The government in 2007-08 had announced tax holiday scheme of five years for two-star, three-star and four-star hotels, besides convention centres in NCR.
Vijay Mallya-promoted United Spirits Ltd has told its investors that at its current growth rate of 12 per cent annually, it will become the world's number one spirits company this fiscal.
Supplier of accessories and home furnishings to Armani and some other big names in the world of fashion, Crew B O S, will raise about Rs 14 crore (Rs 140 million) through an initial public offer to fund expansion and move to the next growth orbit.
Tata Motors owned Jaguar Land Rover will start producing its Range Rover and Range Rover Sport in India, marking a first for the iconic models in their 54-year long history, to be rolled out from a country outside of the UK. Till now the two models were only produced in Jaguar Land Rover's Solihull plant in the UK and then exported to around 121 markets globally, including India.
The Delhi airport, the country's busiest airport, on Friday early morning witnessed the collapse of a roof at Terminal 1 amid heavy rains that killed one person, prompting the government to order a detailed probe and an inspection of the structural strength of all airports.
Even as cement companies continue to announce ambitious expansion plans, analysts turn cautious over the sector as incremental supply is expected to coincide with a weak demand growth period, and other headwinds of higher fuel costs, weak monsoons and general elections. In August, JSW Cement said it will take its current 19 million tonnes (MT) capacity to 60 MT in the next five years. The country's top producers have massive expansion plans underway - UltraTech Cement targeting 200 MT, Adani Cement aiming for 140 MT and Dalmia Cement planning for 110-130 MT.
Vedanta group chairman, Anil Agarwal, 69, is well known for his business journey from a scrap dealer from Bihar to a London-based globe-girdling metal and oil and gas conglomerate with revenues of $19 billion. Now his abilities to keep his group from over-leveraging itself will be put to the test. Over the years, Agarwal, now based in London, set up the conglomerate via acquiring iron ore producer Sesa Goa, Cairn's oil producing assets in India, and Electrosteel Steel.
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 Indian services sector expanded at the strongest rate in 12 years in February supported by favourable demand conditions and new business gains, a monthly survey said on Friday. The seasonally adjusted S&P Global India Services PMI Business Activity Index rose from 57.2 in January to 59.4 in February -- its highest level in 12 years. For the 19th straight month, the headline figure was above the neutral 50 threshold. In Purchasing Managers' Index (PMI) parlance, a print above 50 means expansion while a score below 50 denotes contraction.
'I think some of us, like Mukesh Ambani, myself and those of us who head industrial units, ought to really focus on what we can really do to make the world a safer place, maybe 50 or 100 years from now.' 'For instance, how can we deal with climate change and global warming, right now?' 'The effects of it may not be felt now; in fact, we may pay a price for it today, but it will help the generations to follow.'
Undeterred by slowdown in infrastructure and other related sectors, Swiss cement maker Holcim on Tuesday said it will go ahead with its $2 billion India expansion plans for enhancing capacities by 2010.
Steel Authority of India Ltd is poised to outpace its metal sector rivals, including private players giants like Tata Steel and Hindustan Zinc on the stock market radar going forward, the analysts believe.\n
The company has a debt burden of Rs 14,500 crore.
Union Budget 2009-10 has been mildly positive for the power sector.
Budget airlines are now set to explore the non-metro markets. With high growth prospects there, the carriers are pumping in funds and offering attractive packages to lure customers.
In yet another major outsourcing deal, Sunil Mittal-owned Bharti Group on Tuesday entered into a over Rs 580 crore ($125 million) deal with telecom major Nokia to expand the network in eight circles.
Arcelor Mittal will invest $20 billion to set up two steel plants in India, in Jharkhand and Orissa.
Crisil Ratings on Wednesday projected India's GDP growth at 6.8 per cent in the next fiscal and said the country will become an upper middle-income nation by 2031 with the economy doubling to $7 trillion. In its India Outlook report, Crisil said the Indian economy will take support from domestic structural reforms and cyclical levers and can retain -- perhaps even improve -- its growth prospects to become the third largest economy by 2031. "After a better-than-expected 7.6 per cent this fiscal, India's real GDP growth will likely moderate to 6.8 per cent in fiscal 2025," said the Crisil India Outlook report.
As part of its 'Mission 2010,' the cooperative enterprise has drawn up Rs 3,000 crore (Rs 30 billion) investment plan to expand its production capacity and grow inorganically by foraying into commercial banking and power sector.
India's manufacturing sector growth fell to 18-month low in December amid softer increase in factory orders and output, despite minimal inflation, a monthly survey said on Wednesday. The HSBC India Manufacturing PMI survey, conducted by S&P Global, showed that there were softer, albeit sharp, increase in factory orders and output, while business confidence towards the year-ahead outlook strengthened. The seasonally adjusted HSBC India Manufacturing Purchasing Managers' Index (PMI) fell from 56 in November to an 18-month low of 54.9 in December.
RINL wiped out its losses in 2005-06 with money from the government.
Cement companies, so far defiant on cutting prices, could soon be trapped in their own net with their huge investment plans set to result in oversupply by next fiscal
Karnataka Home Minister G Parameshwara on Saturday said the police are conducting in-depth investigation into the bomb blast at the Rameshwaram Cafe and are looking into all angles.
SMILP, despite having an installed capacity to manufacture 100,000 vehicles, sold a little over half that number between April and December last year and 5,753 units in January 2007.
On a surprise visit to Beijing amid speculation that he may unveil Tesla's autonomous driving technology in the burgeoning electric vehicle (EV) market in China, billionaire Elon Musk on Sunday met Chinese Premier Li Qiang and discussed future expansion plans for his automobile.
Hero Honda Motors Ltd on Wednesday said it would pump in Rs 200 crore (Rs 2 billion) this fiscal for capacity expansion and new model launches, including its much-awaited scooter models.
Reliance Industries Ltd has been recognised as the 'International Refiner of the Year' for 2005 by a leading global industry magazine.
The company is also calling back former employees who may want to rejoin the Navratna.
It has a fleet of 47 planes including 17 Airbus A320Neo. The remainder include Airbus A320Ceo planes.
Despite multiple headwinds at the start of 2023, the Indian markets delivered a strong performance, posting 19-20 per cent growth for the year. Even as new records were set, investor sentiment remains strong going into 2024, given the lower inflation, expectations of steady to lower interest rates, higher economic growth, and strong inflows. However, the overriding concern for most brokerages is valuations.
Exide Industries Ltd, the storage battery maker, has planned to tap the Russian market for its submarine batteries and has earmrked Rs 60 crore (Rs 600 million) for capacity expansion.
Korean automaker Hyundai Motor Group (HMG) is vigorously aiming to establish a robust presence in India's electric vehicle (EV) segment through the introduction of new models and the establishment of charging stations under Hyundai Motor India (HMIL) and Kia India. Euisun Chung, executive chairman of HMG, who is currently visiting India, urged both companies to deliver products that not only meet but exceed customer expectations on time, thus driving the achievement of these growth targets. The group is strategically working to elevate Kia's market share from the current 6.7 per cent to an impressive 10 per cent in India in the near future.
