State-owned Indian Oil Corporation said it has earmarked Rs 43,250 crore for capacity expansion over the next five-year period. This was announced by the company's Chairman S Behuria at its annual general meeting in Mumbai
The Hyderabad-based manufacturer uses a proprietary adjuvant Algel-IMDG, which has now proven to be a safe and effective adjuvant, especially to stimulate memory T cell responses.
Looking to cash in on the burgeoning beer consumption in India, the United Kingdom-based SABMiller will invest around Rs 500 crore (Rs 5 billion) to expand production capacities at its breweries in the country.
Electrical Consumer Durable (ECD) companies like Havells India have seen strong Q4FY24 sales and continuing seasonal demand across fans, air coolers, and room air conditioners (RAC) in addition to business-to-business sales of cables, switchgear, and professional lighting, among others. Havells India's Q4FY24 revenue rose 12 per cent year-on-year (Y-o-Y) to Rs 5,400 crore, in-line with consensus. Strong summer demand led to robust volume growth in fans and RAC and volume growth in cable and wires (C&W) due to infrastructure spending and real estate activity.
India Inc on Thursday expressed fear that the RBI's decision to raise key short-term rates will push up the cost of borrowing, making some of their projects unviable and hurting expansion plans.
An increase in the number of outsourcing deals between domestic drug companies and pharmaceutical multinationals has triggered huge capacity expansion programmes in the drug manufacturing sector.
Global chip maker Intel on Monday said it could take a couple of years to address the supply shortage in the semiconductor ecosystem that is witnessing huge demand for tech products, accelerated by the COVID pandemic. Intel CEO Pat Gelsinger noted that the work and study-from-home trends during the COVID-19 pandemic have led to a "cycle of explosive growth in semiconductors" that has placed huge strain on global supply chains around the world. "We have been working diligently with our partners... to address constraints and increase output to meet demand, and we are acting to help ensure capacity to meet the world's needs for this new era... But, while the industry has taken steps to address near-term constraints, it could still take a couple of years for the ecosystem to address shortages of foundry capacity, substrates and components," he said at a virtual session at the Computex event.
Mittal confirmed ArcelorMittal's partnership with ONGC not over, even as there are few projects they are discussing.
Reliance Industries Ltd invested over $125 billion in the last ten years as it undertook massive expansion in hydrocarbon and telecom businesses, a report said, estimating that the conglomerate's investments in the next three years would be in relatively less capex-heavy retail and upstream new energy. Reliance is coming out of a series of long and intensive capex cycles (hydrocarbons and telecom).
The services sector growth in India fell to a one-year low in November on softer expansions in new work intakes and output, despite receding price pressures, a monthly survey said on Tuesday. The seasonally adjusted S&P Global India Services Business Activity Index fell from 58.4 in October to a one-year low of 56.9 in November. Despite witnessing a month-on-month decline, the rate of expansion was stronger than its long-run average.
Tata Steel plans to expand capacity to 10 million tonnes at Jamshedpur by August 2011 from 6.8 million tonnes.
Blue Dart, the express cargo carrier, is planning to expand its fleet. It intends to add two new aircraft at an estimated cost of Rs 60 crore (Rs 600 million), company chairman Tushar Jani said.
Long-term macro trends indicate growth in demand for air travel. Trends from the ticketing website MakeMyTrip indicate a likely annual growth of between 11-17 per cent in Indian air travel demand over FY24-30. Through that period, InterGlobe Aviation or IndiGo may continue to make gains in market share in both domestic and international travel, aided by large fleet additions. IndiGo is the largest global customer of Airbus by far with 950 aircraft orders outstanding.
He feels that the Budget presents a realistic picture of railway finances.
Elaborating on the pricing formula of cars produced by Maruti Suzuki at its facilities in Haryana, the company said it marked up the cost of production of the car to generate profits.
The Reserve Bank of India on Friday revised upwards the GDP growth projection for the current fiscal to 7.2 per cent from 7 per cent on rising private consumption and revival of demand in rural areas. Unveiling the bi-monthly monetary policy, RBI Governor Shaktikanta Das said estimates released by the National Statistical Office (NSO) placed India's real gross domestic product (GDP) growth at 8.2 per cent in 2023-24. "During 2024-25 so far, domestic economic activity has maintained resilience," he said, adding that manufacturing activity continues to gain ground on the back of strengthening domestic demand.
Domestic air passenger traffic grew 5.1 per cent year-on-year to an estimated 138.9 million in May and was significantly higher by around 14 per cent than pre-Covid levels, credit ratings agency Icra said on Thursday. Icra also said the outlook on the Indian aviation industry is stable amid the continued recovery in domestic and international air passenger traffic with a relatively stable cost environment and expectations of the trend continuing in FY2025.
Next year Medica and Manipal will merge, making the amalgamated entity the largest corporate hospital chain in the country, overtaking Apollo Hospitals Enterprises.
The new workforce will primarily take care of the company's proposed expansion with an outlay of Rs 216 crore, which would include capacity expansion for its various product lines, forward integration in the chemical and backward integration in the pharmaceutical divisions to produce raw materials for its flagship product Ibuprofen, besides increasing its cogeneration of power.
'We condemn recent illicit missile launches in the region that violate UN Security Council resolutions. We express serious concern over recent dangerous and aggressive actions in the maritime domain. We seek a region where no country dominates and no country is dominated one where all countries are free from coercion, and can exercise their agency to determine their futures,' the declaration said.
RGPPL has signed a power purchase agreement with the government of Daman and Diu for selling about 98 Mw of power from July.
Indian Railways should aim for a quantum growth in traffic. This will require investments in new infrastructure, including 125 capacity expansion works on the shelf, costing about Rs 35,000 crore.
The Aditya Birla Group company has already spent over Rs 3,000 crore on projects to take its production capacity from 17 million tonnes to 21.9 mt and plans to further scale up till 23.1 mt by June-end. K C Birla, chief financial officer, said, "We will continue to maintain our market share and, if required, we will go ahead with more capacity additions to ensure we don't become a loser in the market."
Tata Motors is considering increasing its capacity for the passenger car business unit and would take a final call on it in the next two years.
The Street expects lower earnings from RIL's shale business to be offset by the sharp uptick in refining margins and the gradual improvement in petrochemical earnings.
'There is no reason why we should break this business up.'
Essar Oil is in the final stages of negotiations to raise $100 million (about Rs 407 crore) through external commercial borrowings for expansion and upgradation of its crude refinery in Khambalia, Gujarat.
With a gradual rise in temperature and the start of heatwave, FMCG and dairy firms selling cola-based fizz drinks, juices, mineral water, ice creams and milk-based beverages expect a spike in sales and have ramped up their production and stocks to meet the anticipated consumer demand. The makers are launching new products keeping in mind the evolving consumer preferences and also investing substantially on promotions and expansion of the channels this season, company executives of beverage and ice cream makers said. Beverages major PepsiCo said summer months are naturally the most favourable season for its category and it is "optimistic" that its portfolio of brands will continue to delight consumers during the period.
Honda Siel Cars, India on Tuesday said it would be investing Rs 700 crore (Rs 7 billion) in the Indian market over the next five years.
Britannia, which holds over 38 per cent of the market in value terms, is investing Rs 130 crore (Rs 1.3 billion) to increase its capacity, 433,000 tonnes of biscuit last year, by 20,000 tonnes.The move is designed to wrest market leadership in volume terms as well, a position now held by rival Parle.
New Delhi-based direct-to-home player Dish TV plans to pump in Rs 500 crore (Rs 5 billion) as part of its expansion plans over the next 18 months.
The dairy major is transforming into a full-fledged F&B and fast moving consumer goods (FMCG) player, reports Vinay Umarji.
Even as there are signs of revival in the industrial sector, Indian industry leaders and economists are unanimous that fresh investment in green field projects is a year or two away at least, as huge capacities were still being under utilised.
Industry players say that the market's appetite to absorb slightly higher fares has improved and around Diwali and between December 15 and January 15 (traditionally peak periods), the fares will be above costs.
