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.
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.
Always interesting, DMK politics is going to get even more absorbing in the days to come, predicts Aditi Phadnis.
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.
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.
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.
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.
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.
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.
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.
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.
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).
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.
Next year Medica and Manipal will merge, making the amalgamated entity the largest corporate hospital chain in the country, overtaking Apollo Hospitals Enterprises.
Liverpool's chief executive says the 60-70-million-pound cost of redeveloping the Anfield Road end of the club's iconic stadium is difficult to justify as a business deal. Ian Ayre told a meeting of Liverpool Supporters' Committee (LSC) that it could take 15 years to pay back, which he said was "not a smart investment for the business". Liverpool opened their redeveloped Main Stand earlier this season, raising seating capacity to more than 54,000, and have outline planning permission to extend Anfield Road by a further 4,800.
The dairy major is transforming into a full-fledged F&B and fast moving consumer goods (FMCG) player, reports Vinay Umarji.
SAIL and RINL at present produce about 18 million tonnes of the commodity. Navratna mining giant NMDC is in the process of setting up a three million tonnes per annum (MTPA)-steel unit in Chhattisgarh. Despite the prevailing economic slowdown, the expansion programmes of these public sector entities are going on full swing, Rastogi said, adding that SAIL is likely to hit the capital market to raise funds for the capacity augmentation.
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.
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.
Mumbai airport, which has limited capacity for expansion, is being expanded to handle 40 million passengers annually by 2010.
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.
Private sector arm of the World Bank, IFC will invest Rs three billion in Max Healthcare over next four years through purchase of equity and preference shares to fund the company's capacity expansion.
'There is no reason why we should break this business up.'
ITC's results for the January-March quarter (Q4) were strong, with robust growth in the fast-moving consumer goods (FMCG) segment and a good performance in hospitality. The tobacco division's performance was on expected lines, with double-digit volume growth, helped by reclaiming of market share from the smuggled trade. There was 60 per cent growth in non-cigarette earnings before interest and tax (Ebit), despite a relatively weak performance in paperboards.
'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.
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.
Steel Authority of India Ltd (SAIL) has accorded its in-principle approval to the expansion plan of Rourkela Steel Plant (RSP) at a cost of Rs 9,869 crore (Rs 98.69 bn), the sources said.
Bharat Petroleum Corporation Ltd is looking at 600 to 800 strategic sites across the country for its retail outlets expansion, a top official of the company said on Wednesday.
After Air India and Jet slashed ticket prices, low-cost carriers respond with 5-20 per cent cuts; likely to spur air travel market's sluggish growth.
SEL will also be setting up an innovation centre in Denmark, which will focus on concepts beyond design and development-related R&D.
'While lower steel prices may impact a part of the quarter, this will be offset by softer raw material prices.'
India's manufacturing sector growth climbed to a 16-year high in March on the back of the strongest increase in output and new orders since October 2020, amid reports of buoyant demand conditions, a monthly survey said on Tuesday. The seasonally adjusted HSBC India Manufacturing Purchasing Managers' Index (PMI) surged to a 16-year high of 59.1 in March, from 56.9 in February, reflecting stronger growth of new orders, output and input stocks as well as renewed job creation. In Purchasing Managers' Index (PMI) parlance, a print above 50 means expansion while a score below 50 denotes contraction.
'Our factories are world-class and are becoming increasingly attractive for our global business leaders to use to serve other markets.'
