ABB India's March quarter results (Q1CY24) were led by strong margin performance. Revenue was, however, largely in line with estimates at Rs 3,080 crore (up 28 per cent Y-o-Y and up 12 per cent Q-o-Q). The growth was across electrification (30 per cent Y-o-Y), process automation (73 per cent Y-o-Y) and robotics & motion (8 per cent Y-o-Y).
Sweden has conferred the Royal Order of the Pole Star on Ravi Uppal, vice-chairman and managing director of ABB India, in recognition of his contribution to promoting Indo-Swedish relations over many years.
For patients, the immediate impact is a reduction in the final cost of therapies that often run into lakhs per month.
Power equipment major ABB India on Monday also said it would invest $100 million (Rs 450 crore) over three years in expanding its manufacturing base in the country.
Williams, Bharti join camp, signalling new chapter for Indian football
As order books gain from India's increased capital outlay, some large capital goods and engineering companies are together spending over Rs 11,500 crore in creating new facilities, data shows. Nine engineering and capital goods companies, where data was available, including Siemens, Larsen & Tourbo (L&T) and KEC International, have a combined capital expenditure (capex) of about Rs 11,500 crore or more. Others such as ABB India and Thermax Global are also adding capacities.
Engineering firm ABB India on Tuesday announced it has secured a Rs 289 crore (Rs 2.89 bn) order from Delhi Metro Rail Corporation for supply of electrification package for the second phase of the metro rail project.
Buying stocks during a dip, says Amar Nandu, research analyst, Samco Securities, can lead to higher compounding returns when the uptrend begins.
ABB, a leading power and automation technology group, announced on Wednesday its decision to establish a dedicated engineering and operations centre in India.
Amit A Shah holds a stake in 180 listed entities, according to data disclosed in his election affidavit.
Sukanya Verma lists 15 scenes that reveal facets of Salman outside the formula.
'Our factories are world-class and are becoming increasingly attractive for our global business leaders to use to serve other markets.'
ABB, a global power and automation technology group, will offer shareholders of ABB Ltd, its listed subsidiary in India, Rs 900 per share to increase stake in the company to 75 per cent from the present 52.1 per cent.
Ola's factory will create 10,000 jobs and serve as the company's global manufacturing hub for India and international markets.
Leading stock exchange NSE has tweaked the constituents of its major indices with Adani Group's two companies -- Adani Wilmar and Adani Power -- all set to make their way into some of the Nifty indices from March 31, 2023. Adani Wilmar will be part of Nifty Next 50 and Nifty 100 indices, while Adani Power will be included in Nifty 500, Nifty 200, Nifty Midcap 100, Nifty Midcap 150, Nifty LargeMidcap 250, and Nifty Midsmallcap 400 indices. All the changes in the indices will be effective from March 31 this year, the exchange said in a late night statement on Friday.
India Inc could be embarking upon a new phase of capital expenditure (capex) cycle, observed analysts, and suggest its revival would lead to a rerating of industrial stocks. Assisted by a property upcycle, analysts at Jefferies said several government initiatives were likely to drive capex. Indicators, they said, include a private project announcement at Rs 25 trillion for 2022-23 (up 150 per cent from pre-pandemic levels) and credit growth at about 16 per cent, which is closer to pre-pandemic highs.
Operating margins have been the primary driver of corporate earnings in India in recent quarters, despite revenue growth suffering from weak consumer demand. Companies across sectors have reported a sharp improvement in earnings before interest, tax, depreciation, and amortisation (Ebitda) margins over the past two years, benefiting from lower commodity and energy prices. Higher margins more than compensated for slower revenue growth, resulting in double-digit growth in net profit for five consecutive quarters.
Among the 30 Sensex companies, Larsen & Toubro, Power Grid, NTPC, State Bank of India, Reliance Industries and HDFC Bank were the biggest laggards. Sun Pharma and Nestle were the only gainers.
At present, less than one per cent of manufacturing GDP comes from automation in India.
'If we chose to do the right things, it is possible to avoid job losses at a mass scale,' ABB MD Sanjeev Sharma tells Raghu Krishnan.
Capital goods stocks rallied nearly 16 per cent since January on purchases by foreign institutional investors and in anticipation of a change of government at the Centre.
Operating margins for some companies dipped in Q3, 2021-22 but this sector could be nearing the bottom of the cycle in terms of profits.
Sectoral index up 10% in past month, as market takes hope from higher order book, revenue and operating margins in September quarter.
Hyderabad will be the first time a major international racing event
Maharashtra Chief Minister Eknath Shinde was in element at the Gateway of India.
Debutant Akash Kumar (54kg) secured India's first medal at the AIBA World Boxing Championships in Belgrade on Tuesday after advancing to the semi-finals with a superb win over former Olympic silver-medallist Yoel Finol Rivas of Venezuela.
Hyderabad will host India's first ever ePrix on February 11.
The engineering and construction (E&C) sector delivered an excellent performance in the last two financial years (FY2021-22 or FY22 and FY23's nine-months) and there's reason to believe that FY24 will also see outperformance. The sector has emerged from the pandemic with stronger balance sheets and more rational cost structures. It has a big order book and it should see new order flows accelerate in FY24.
The reason for digital and IT interventions increasingly being adopted is not just the change in ways commuters move but also the mode on which this transport moves, says Jyoti Mukul.
Asserting that the self reliant India programme will help revive the global economy, Prime Minister Narendra Modi on Thursday told global business community that his government aims to transform the country through access, inclusion and empowerment while also ensuring complete data security. Addressing the World Economic Forum's online Davos Agenda Summit, where he also interacted with global business leaders, Modi also said India offers a predictable and friendly environment from tax regime to FDI norms. He said Aatmanirbhar Bharat movement is committed to global good and global supply chain while the country's digital profile has been completely transformed.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
For some, India has become critical to global operations. It accounts for 10 per cent of StanChart's top line as well as bottom.
The US Drug maker requested the court to pass an order to restrain DRL from commercially manufacturing, using, offering for sale, selling, marketing, distributing, or importing DRL's generic paricalcitol injectable products prior to the expiration of said patents.
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