Grasim Industries has announced a rights issue of around Rs 4,000 crore with the promoters committed to fully subscribing to their entitlements and to covering any unsubscribed portion. This is to part-fund capital expenditure (capex) of Rs 10,000 crore in a new foray into the paints business. The company has already invested Rs 3,640 crore in the paints business (by Q1FY24). The management has outlined a capex of Rs 5,700 crore for FY24, which includes Rs 4,280 crore allocated for the paints business, of which Rs 1,050 crore has already been spent in Q1FY24.
Higher inflation has again become a matter of concern for fast-moving consumer goods (FMCG) companies. After prices of commodities like sugar and wheat moved higher and stabilised at those levels, the crude oil too surged, adding to FMCG firms' worries. Besides, a dry spell in August in the ongoing monsoon season impacted rural demand.
Irregular rainfall and a pick-up in commodity costs are expected to weigh on the demand and margins of fast-moving consumer goods (FMCG) companies. Most companies reported a sharp expansion in gross margins in the April-June quarter (first quarter, or Q1) of 2023-24 (FY24), given the lower prices of key raw materials and earlier price hikes. Furthermore, there were expectations that cost savings being passed on could reflect in volume growth going forward. However, these hopes could be dashed if demand recovery, especially in the rural segment, stalls, and gains on the raw material front start to recede.
New Yorker Aseem Chhabra is entranced by two Dilli restaurants, one a landmark, the other a new eatery in town.
Diwali is a season in India for sweet-making. A treasure of traditional Diwali recipes from all corners of our India.
Rum Cocktails: Xec Xec. Mury Thai Boxing. Havana Ooh Na Na.
Make chocolate the star of the day, and gift yourself a mid-week boost.
A new cookbook not only aims at enthusing readers prepare delectable dishes by recreating recipes, but also acts as a meal solver and planner.
Celebrate Lohri with traditional Punjabi recipes.
If you are fasting, you must steer clear of processed and packaged foods as they often contain additives, preservatives and excessive salt or sugar which can disrupt the purity and purpose of your diet, says dietician Ruchi Rai.
A traditional homemade Bengali sweet, Rosh Bora is rarely found in sweet shops.
Eat healthy with these nutritious laddoos.
Taruna Deepak's lovely fusion cake is for NYE and other special occasions.
It's that scorching time of the year again when horrid heat waves engulf our beings and nothing except a smack of cool breeze or a chilled glass of refreshment springs us back to life again.
Individual squares of cake, iced on the exterior with a rich chocolate sauce, that gets absorbed by the cake, and then each piece is rolled in a bed of grated desiccated coconut.
Anil Agarwal-led Vedanta's Sterlite Copper has come out with a fresh notification inviting expressions of interest (EoIs) to supply raw materials like copper concentrate, imported thermal coal, rock phosphate and petroleum products, among others, as part of its preparatory measures to restart production at its Thoothukudi unit in Tamil Nadu. This plant is likely to restart operations if a Supreme Court verdict goes in favour of the company. On June 12, the company had invited EoIs for carrying out plant 'restart activities'.
Make a quick, easy, scrumptious breakfast with besan.
Jyoti Negi, expert, Momspresso, shows you how to delight your guests with simple fruit shakes.
Paatra, a popular Gujarati snack, is also known as aloo vadi in Maharashtra and pathrode in Mangalore.
Two varieties of indulgent desserts just for you.
Bored of working from home? Try making these refreshing summer coolers.
He defeated sitting Congress MLA Kanti Sodha Parmar in Anand, the home of world famous Amul dairy brand.
Consume foods that keep you hydrated, are light and easy on the gut, advises Sanya Narang.
The levy of clean energy cess on domestic and imported coal at Rs 50 per tonne can affect select players with captive thermal power plant, and also soda ash producers.
Continue the lower excise duty on various commodities, as similar to FY 09-10, says the glass industry.
Seeks removal of customs duty on soda ash, retain excise duty at current levels and stricter enforcement of ban on use of old bottles in select sectors like pharma, etc.
Two great reasons you'd want to get out of bed on a lazy weekend.
Craving for cake? This delightful recipe from Mumbai food blogger Sangita Agarwal is meant for you.
The dish is packed with aromatic spices and has a great bite to it.
The best summer foods of India
We're fully in winter mode and it's recommended you try out this traditional Gujarati dish with warm rotis and have a feast.
Bethica Das shares her healthy version of the recipe.
Things get murkier and moronic in this staggeringly dumb, dull thriller, feels Sukanya Verma.
At least three students from Maharashtra pursuing medicine in Kharkiv, located in northeast Ukraine, narrated how they had to stand in long queues for a can of water, drink soda, stay in bunkers.
Easy-to-make, fun drinks by Sonali Mullick, mixologist at Hitchki, Mumbai.
Planning a romantic date night dinner? This recipe is meant for you!
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