UltraTech Cement's third quarter of financial year 2023-24 (Q3FY24) performance saw a combination of 6 per cent year-on-year (Y-o-Y) volume growth and 8 per cent revenue growth coupled with better realisations per tonne. The earnings before interest, taxes, depreciation, and amortisation (Ebitda) stood at Rs 3,250 crore and Ebitda per tonne was Rs 1,191. Profit after tax (PAT) was reported at Rs 1,780 crore. Other income dipped and interest costs rose.
Mittal confirmed ArcelorMittal's partnership with ONGC not over, even as there are few projects they are discussing.
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.
Had you invested Rs 10,000 each in JSW Steel, Titan Company and Bajaj Finance 20 years ago, when they were just penny stocks (trading below Rs 10), you would have become a millionaire by now.
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.
'In terms of incentives, if you think about it, hybrids are a 20-year-old technology.'
'Currently, our individual first premium would be in the Rs 3,000-Rs 3,200 crore range. We want to take that to about Rs 6,000 crore in three years.'
He feels that the Budget presents a realistic picture of railway finances.
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.
India's manufacturing sector growth climbed to a four-month high in January as a sharper upturn in new orders boosted output growth amid mild cost inflation, a monthly survey said on Thursday. The seasonally adjusted HSBC India Manufacturing Purchasing Managers' Index (PMI) recovered from an 18-month low of 54.9 in December to 56.5 in January. The latest reading highlighted the strongest improvement in the health of the sector since last September.
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 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.
RGPPL has signed a power purchase agreement with the government of Daman and Diu for selling about 98 Mw of power from July.
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."
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.
'Factors such as working professionals seeking better lifestyles, traditional housing challenges, community and networking, and urban migration for jobs are driving the growth in the co-living segment.'
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.
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.
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.
Bengaluru-headquartered electric two-wheeler manufacturer Ather Energy is all set to file its draft red herring prospectus within the second week of September to the Securities Exchange Board of India (Sebi) for its maiden initial public offering (IPO), in which it is expected to raise over $450 million. On Tuesday, the fourth-largest electric two-wheeler maker in the country by volume raised Rs 600 crore from its existing investor, the National Investment and Infrastructure Fund (NIIF), catapulting itself into a unicorn with a valuation of $1.3 billion.
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.
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.
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.
Indian Railways has managed to improve its freight volumes each year since the pandemic. However, its inability to add new industries and goods will pose a challenge for the national transporter in the wake of it setting an ambitious target of 45 per cent share in the national logistics by 2030. According to officials, the ministry of railways achieved 114 million tonnes (mt) of miscellaneous goods (classified as balance and other goods) in 2023-24.
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.
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.
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.
Mumbai airport, which has limited capacity for expansion, is being expanded to handle 40 million passengers annually by 2010.
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.
