According to an industry expert, companies such as Trident, Welspun India, Arvind, KPR Mill, Vardhman Textiles, Page Industries, Raymond, and Alok Industries stand to gain, as revenue from the US market accounts for 20-60 per cent of their earnings.
A joint venture of Adani Group and Welspun Enterprises Ltd has discovered natural gas reserves in an area off the Mumbai coast, the two firms said in a statement Monday. The first-ever gas discovery was made in the NELP-VII block MB-OSN-2005/2, Adani Welspun Exploration Ltd (AWEL) said. Spread across 714.6 square kilometers, the block is located in the prolific gas-prone Tapti-Daman sector of the Mumbai Offshore basin where production is already underway by other operators.
'Balancing tunnel developments with ecological realities is a major challenge and, when overlooked, can contribute to mishaps.'
The news that Welspun has run into trouble with one of its biggest US-based clients has stressed its suppliers and investors alike
Welspun now wants to shift focus back on the core business of steel and pipes rather than the big-ticket infrastructure sector.
The sluggish legal system in India makes it extremely difficult for law-enforcing agencies in the ministry of finance to punish violations of foreign exchange laws. Unfortunately, it is not just FEMA. The Prevention of Money Laundering Act too has significant infirmities, say Paranjoy Guha Thakurta and Pranati Mehra.
The Gujarat-based company informed the Bombay Stock Exchange that it would acquire a 40 per cent stake in the joint venture that would provide a wide array of products for onshore and offshore line pipe requirements. \n
Welspun-Gujarat sewed up gains in early trades after the company announced pipeline orders to the extent of US$ 102 million from Iranian oil projects.
The UK retailer earned an EBITDA of 2.7 million in the year ended June 2007 on the back of 17 per cent growth in sales, said Welspun India director Akhil Jindal in Mumbai on Monday. Christy's, which was losing money, customers and market share when it was acquired by Welspun, has reversed the tide by winning back customers, adding new ones and expanding its reach by opening more shop-in-shops.
Welspun Maxsteel, wholly owned subsidiary of the $3-billion Welspun Group, has kept its proposed steel factory plan in Maharashtra on hold due to the shortage of raw material and energy. The delay in environment clearances has also forced the company to keep the project in abeyance for now.
The Welspun group's energy business has plans to set up solar energy parks across four states.
Welspun USA's e-commerce plans comes at a time when only 3-5 per cent of home textile sales in the US is ordered over the Internet. The New York-based company is targeting the mid to upper end of the American home textile market, pegged around $15-17 billion. A couple of established retailers such as JC Penny have built the online retail model over the last decade.
Welspun-Gujarat Stahl Rohren has entered into an agreement to form a joint venture company with US-based Lone Star Technologies for manufacturing spiral welded tubular products for the oil and gas industry.
Taking its first step towards becoming a global home textile company and to access the UK market
A sharp rise can be attributed to the significant changes in India's share buyback tax regime, which will come into effect from October 1, 2024.
With a specific aim on improving her fitness, Indian gymnast Pranati Nayak is hoping to garner success in four World Cup events and an Asian Championship to seal her berth in the Paris Olympics.
It also asked why the data shared pertained to a period from April 2019 even though the scheme for anonymous political funding was introduced in 2017.
From steel tycoon Lakshmi Mittal to billionaire Sunil Bharti Mittal's Airtel, Anil Agarwal's Vedanta, ITC, Mahindra and Mahindra, and a lesser-known Future Gaming and Hotel Services were among the prominent buyers of the now-scrapped electoral bonds for making political donations.
When Vineet Mittal first got into solar power, sometime around 2009, and was planting solar panels in Gujarat, renewable energy looked like a sector ripe for startups. Renewables were clearly the future of energy, and the big boys - Mukesh Ambani's Reliance, Adani Group, and the Tatas - were focusing much more on coal and petroleum. Little did Mittal know that things were going to change drastically.
Textile stocks have exhibited a mixed performance so far this calendar year (CY23), amidst higher domestic cotton prices and tepid global demand. Shares of Page Industries, Dollar Industries, Lux Industries, and VIP Clothing have declined up to 13 per cent so far in CY23, as against a 9 per cent jump in the S&P BSE Sensex. On the contrary, shares of Arvind, Welspun India, Raymond, and Gokaldas Exports have gained up to 51 per cent, during the same period.
Backed by the China-plus-one policy, India's textile and apparel exports have seen a 53 per cent growth during the April-November period of the current fiscal year at around $26 billion. This compares to the figure of $17 billion during the same period in FY21. According to Wazir Textile Index, all major companies including Welspun, Vardhman, Trident, KPR Mills, Indo Count, RSWM, Filatex, Nahar Spg and Indorama have posted higher sales during the first half of the current fiscal year compared to the pre-pandemic year.
'India has a lot of potential, not just in commercial aspects, but also in hiring of people and sourcing of products.'
A video of the CEO dancing along with her staffers is winning the Internet and encouraging other leaders to make workplaces happier.
US-based Apollo Global has picked up stake in Indian firms which are not doing that well financially.
This is the first time India is offering coalmines to private companies for commercial sale.
The list acknowledges the 'inroads women are making in the business world'.
Through a series of structured investments -- in the form of convertible debt and equity -- Apollo will take exposure to Welspun's holding company and its steel and infrastructure subsidiaries.
Stay away from small companies that are easily manipulated.
'In the last few months, we have been pushing ourselves and training hard. Even in the pandemic, we continued to train under the guidance of Gaurav Khanna sir and never deterred from our focus.'
Those Christy towels at Buckingham Palace will soon wear small tags proudly announcing these were "made in India." So will the official Christy towels at Wimbledon.
The shops became a subject of a political controversy last week.
Ajit Mishra, vice president, Research, Religare Broking, answers your stock market queries.
Refuting Tat's charges about Welspun buy, Mistry said to even suggest that the Tata Sons board including the nominee directors of the Tata Trusts had not been adequately informed is contrary to the factual record
Several leading industrialists, including Reliance Industries CMD Mukesh Ambani, Vedanta Resources Limited executive chairman Anil Agarwal, chairman emeritus of Tata Sons Ratan Tata, Mahindra Group chairman Anand Mahindra, Paytm Founder and CEO Vijay Shekhar Sharma, Welspun Group chairman and Assocham president B K Goenka, attended the swearing-in ceremony.
Top companies have grabbed a bigger pie of their sectors in the pandemic period, leading to a further rise in market concentration in many industries as measured by the Herfindahl-Hirschman Index (HHI). The HHI score, which indicates competitive intensity in an industry (or a lack of it), reached a new high in FY21 as bigger firms raised their revenue market shares either organically or through mergers and acquisitions. A higher HHI score indicates a rise in market concentration in favour of a few firms while a lower score means that the industry's revenue is more evenly divided among many companies
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