The stock of commercial vehicle (CV) company Ashok Leyland is up 46 per cent in the past three months, gaining despite worries about a slowdown in sales volume. Brokerages have a mixed view on the country's second-largest medium and heavy commercial vehicle manufacturer. The company reported steady March quarter results and its valuation, focus on growth and medium-term prospects are positive, but some brokerages are cautious, given near-term demand concerns and the risk of competition increasing in the industry.
Diversified entity ITC Ltd on Thursday reported a 22.66 per cent rise in consolidated net profit at Rs 5,225.02 crore in the fourth quarter ended March 2023, led by a strong growth momentum across operating segments. The company had posted a net profit of Rs 4,259.68 crore a year ago, ITC Ltd said in a regulatory filing. Its revenue from operations increased 7 per cent to Rs 18,799.18 crore in the period under review against Rs 17,754.02 crore in the year-ago period.
Adani Ports and Special Economic Zone Ltd (APSEZ) on Tuesday announced the acquisition of a 95 per cent stake in Gopalpur Ports in Odisha from Shapoorji Pallonji Group and Orissa Stevedores Ltd at an equity value of Rs 1,349 crore. In Gopalpur Ports, Shapoorji Pallonji Group (SP Group) firm SP Port Maintenance Pvt Ltd has a 56 per cent stake and Orissa Stevedores Ltd (OSL) has a 44 per cent stake. Gopalpur Port is an all-weather deep-water berthing port with a capacity of 20 million tonnes per annum (MTPA) situated in Ganjam district of Odisha.
Maruti Suzuki, which crossed the one-million car production mark last year, will have to produce at least 100,000 additional units this year to meet the demand.
The PSU steel major has now set a target of completing the mega project--aimed at augmenting its annual production capacity to 23.46 million tonne from the present 14.6 MT-- to 2012-13 from the earlier deadline of 2011-12.
Tata Motors, India's third-biggest carmaker, on Wednesday said it would invest a little over Rs 800 crore (Rs 8 billion) this fiscal for capacity expansion, product development and marketing.
Having signed up teen tennis sensation Sania Mirza as brand ambassador for its Getz model, Hyundai Motor India on Monday
Bajaj Auto Ltd would spend Rs 150 crore for new products and capacity expansion, enabling it to surpass the 10-12% two-wheeler industry sales growth expected this year and set up an assembly plant in Indonesia, a top company official said.
Companies are approaching them again with capacity expansion proposals, suggesting a more durable basis for an economic turnaround.
Cadbury India said it will start local manufacturing of parent Kraft Foods' orange drink Tang, while it will also embark on a capacity expansion for its confectionery products.
Villagers and activists had long been alleging over-exploitation and pollution of groundwater and soil by the unit.
Domestic air traffic demand in India grew by around 14 per cent with the airlines enjoying an average load factor of almost 79 per cent in May compared to last year, even as the global traffic rose by 6.8 per cent.
The headline for corporate profit growth has been very encouraging in the July-September quarter (Q2) of 2023-24 (FY24), with the combined net profit of listed companies up by 38 per cent year-on-year. However, the earnings distribution has been very lopsided, with most of the growth coming from public-sector oil-marketing companies (OMCs), banks, non-bank lenders, automobile (auto) companies, and cement producers. By comparison, companies from information technology services, fast-moving consumer goods (FMCG), retail, and consumer durables were disappointed, experiencing a sharp slowdown in net sales growth and a relatively muted increase in reported net profit.
'Modi knows the people here are opposed to this project, but he is using the might of government to push this port down our throats.'
This is largely on the back of Tata Steel's expansion at Kalinganagar, as well as JLR's in China and Brazil
Private carrier Jet Airways is expected to further consolidate its international operations into a major revenue grosser in FY09, to overcome the growing turbulence in the domestic sector. The general economic scenario does not bode well for capacity expansion on domestic routes, with some of these struggling on account of overcapacity, and only yesterday some airlines were pushed to hike fares to make up for higher aviation turbine fuel prices.
Due to unseasonal rains, the second quarter of financial year 2023-24 (Q2FY24) was disappointing for the room-air conditioner (RAC) segment and Q3FY23 was also slow. While general consumption demand was low in Q3FY24, the low base and the pent-up demand from the first half of financial year 2023-24 (H1FY24) seem to have driven an off-season demand for RACs.
'We have not done budgeting yet for the coming year.'
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.
The third-quarter financials didn't excite market watchers. But equity investors can still make money if they invest in the right stocks.
'Our objective is to reach a localisation rate of 50% in the span of five years.'
The court observed that the criterion is absolutely arbitrary and outrageous and a clear dent on a woman's dignity and right to privacy guaranteed under Articles 14 and 21 of the Constitution of India.
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.
Manufacturing sector activities in India moderated for the second straight month in July as rates of expansion in output and new orders eased slightly, a monthly survey said on Tuesday. The seasonally adjusted S&P Global India Manufacturing Purchasing Managers' Index (PMI) eased to 57.7 in July from 57.8 in June. Despite the fall, the Indian manufacturing sector maintained strong growth momentum at the start of the third quarter amid ongoing buoyant demand, the survey said.
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.
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 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.
The home loan top-up, a kind of secured multipurpose personal loan, is on the regulator's radar, points out Tamal Bandyopadhyay.
