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.
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.
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.
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.
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.
The third-quarter financials didn't excite market watchers. But equity investors can still make money if they invest in the right stocks.
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.
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.
'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.'
Arcelor Mittal will invest $20 billion to set up two steel plants in India, in Jharkhand and Orissa.
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.
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.
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.
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
RINL wiped out its losses in 2005-06 with money from the government.
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.
'Our objective is to reach a localisation rate of 50% in the span of five years.'
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.
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 company is also calling back former employees who may want to rejoin the Navratna.
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.
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.
It has a fleet of 47 planes including 17 Airbus A320Neo. The remainder include Airbus A320Ceo planes.
India's second-biggest commercial vehicle maker Ashok Leyland plans to tap foreign markets to raise upto $100 million, a top company official said on Wednesday.
Utility vehicle and tractor manufacturer Mahindra and Mahindra on Monday said it will invest Rs 100 crore (Rs 1 billion) on capacity expansion
The home loan top-up, a kind of secured multipurpose personal loan, is on the regulator's radar, points out Tamal Bandyopadhyay.
The major area of expansion has been identified as the mobile phones and a 60 million tender for GSM lines has been floated by the company.\n\n
