Mumbai bids adieu to its iconic red double-decker buses.
India's economy could also suffer some ill-effects without necessarily triggering retaliation via higher tariff barriers against Indian goods, says Devangshu Datta.
Prices of all metals - from steel to copper, aluminium, zinc and lead - have shot up by about 5-11 per cent in the past month. Commodity inflation is raising its head, forcing companies to consider price hikes.
While Vedanta Aluminium, Balco and Cairn India confirmed the job cuts, sources said Sesa Goa too had slashed jobs.
India's fifth-largest aluminium maker Madras Aluminium Company plans to expand the capacity of its smelter by 14 per cent in the current fiscal year to March by removing bottlenecks, a group company official said on Tuesday.
Home-grown automotive players like Tata Motors, Ashok Leyland, Bajaj Auto, Hero Honda, TVS Motors and Maruti Suzuki are augmenting the use of plastics in engine components in an ambitious effort to reduce dependence on key metals like steel and aluminium, all of which have witnessed stupendous rise of 35-50 per cent in the past 5 months.
Currently, the public sector major has an inventory of 20,000 tonnes as against the usual level of 5,000 tonnes. Analysts expect the inventory to reach 25,000 tonnes by March-end. "We expect aluminium prices to remain below the cost of production for the next six to nine months," said Vipul Shah, an analyst with Mumbai-based brokerage K R Choksey Shares. "The outlook for aluminium is grim," he said.
Outbound shipments of engineering products in June to these nations doubled to $1.32 billion in June 2020, from $653.52 million in June 2019.
The National Aluminium Company (Nalco), India's second largest producer of the base metal, avoided a production cut by offering discounts to its key clients that helped it boost sales and trim rising inventory.
London-listed Vedanta Resources has cut its capital expenditure by $5 billion to counter the sharp fall in prices of non-ferrous metals.
While NSE is exploring 8-10 new agri-commodities, BSE is eyeing as many as 15, most of which aren't traded on any other online derivative exchange in India.
Vedanta Resources, the UK-listed mining group, is planning to invest $20bn in India in the next four years to expand its metals, mining and electricity generation operations in the country.
Investors should await consistent growth metrics before looking at an investment in the company.
Confident with the popularity of its Canvas phones, Micromax launched its first 'premium' 8-inch tablet.
The broad-based NSE Nifty, after shuttling between 10,296.70 and 10,211.90, finally ended 15.80 points, or 0.15 per cent down at 10,226.85.
With the United States adopting protectionist policies and hiking import duties, a trade war like situation has emerged.
A V Metals -- the A V Birla group's Canada-based special purpose vehicle -- will infuse $3.5 billion to finance Hindalco Industries' proposed acquisition of the Atlanta-based aluminium downstream major Novelis Inc.
Chairman says turnaround has begun in sector expects 10% growth in firm's core business this year.
The latest hike is likely to be followed by another such move next month, said industry players. Before the latest hike, companies had initiated price hikes to the tune of 12-13 per cent in 2021 but they weren't able to fully cover the increase in costs.
The environmentally conscious sleeping arrangements were put on display for the media for the first time on Thursday at a mock apartment in the Tokyo 2020 headquarters
The operating margin of India Inc is likely to drop in the December quarter with a 100-120 bps year-on-year decline, as 27/40 sectors are set to see crimped margins despite higher revenue, according to a report. Surging commodity prices and price hikes may help companies report a healthy 16-17 per cent revenue growth to Rs 9.1 lakh crore during the quarter ending December, the Crisil report said on Tuesday. Software major TCS will open the earnings season Wednesday.
Survival International, a London-based NGO, has appealed to the director of the Hollywood blockbuster Avatar, James Cameron, to lend his support in fighting against London-listed mining and metals major Vedanta Resources from setting up its aluminium plant in Orissa.
The FPI holding in India's top 100 companies, which are part of the Nifty 100 index, declined to 24.23 per cent on average at the end of March this year, from a high of 27.5 per cent at the end of March 2021. This is the lowest FPI holdings in India's top listed companies in at least three years. A general sell-off by FPIs has weighed on stock prices and the benchmark S&P BSE Sensex is down 8.5 per cent, from its 52-week high made in October 2021. Most analysts expect FPI flows to remain weak in FY23 as well, given rising bond yields in the US and an expected earnings slowdown in India due to high inflation and commodity prices.
The group also has plans to spend Rs 50,000 crore (Rs 500 billion) on power generation. The London-listed giant will spend Rs 43,000 crore (Rs 430 billion) to enhance its capacity, in addition to its Rs 50,000-crore (Rs 500-billion) plan in power generation.
The sharp increase in commodity prices on account of the Russia-Ukraine war has put automakers in a fix. After the frequent price hikes in the current fiscal, manufacturers fear that any more price increases may further dent the already weak demand in certain segments. "We have taken several hikes and cannot immediately do it again. "We will have to closely watch the situation and act accordingly," said an official at an auto firm, declining to be identified. Even for companies like Tata Motors Passenger Vehicles, which has had a strong volume run and a robust order book, passing on the entire costs has been tough.
Commodity markets have been out- of-sync and moved up as other assets depreciated. What's more, this is true for several ranges of commodities. Crude and other fuel sources have hit successive record levels.
Reminiscent of desi culture, a hotel staff was serving tea in normal glasses while standing next to a bicycle.
'It really doesn't matter that investors getting allotments sell their IPO stock holdings on listing day because a new set of investors are entering.' 'This explains the continued rise in stock prices even after the first day of listing.'
A study of the top ten mutual funds' equity portfolios as on March 30 reveals that funds bought huge chunks of metal major SAIL, engineering stock KEC Infrastructures, while diluted their exposure to FMCG major ITC.
Planning to buy the Nexus 6P? Read this first
The Vedanta group, the eighth largest mining and metal company in the world, is all set for a gold rush in India.
International metals major Sterlite Industries has approached the government seeking to acquire the latter's 49 per cent residual stake in aluminium major Balco.
These together account for 40 per cent of bad loans of around Rs 4 trillion.
The broader Nifty finished at 10,421.40, up 194.55 points, or 1.90 per cent.
