Having signed up teen tennis sensation Sania Mirza as brand ambassador for its Getz model, Hyundai Motor India on Monday
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.
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.
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).
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.
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.
Always interesting, DMK politics is going to get even more absorbing in the days to come, predicts Aditi Phadnis.
'There is no reason why we should break this business up.'
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.
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.
'We have not done budgeting yet for the coming year.'
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 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.
'While lower steel prices may impact a part of the quarter, this will be offset by softer raw material prices.'
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.
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.
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.
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.
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.
'Our factories are world-class and are becoming increasingly attractive for our global business leaders to use to serve other markets.'
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.
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.
Arcelor Mittal will invest $20 billion to set up two steel plants in India, in Jharkhand and Orissa.
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.
'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.
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
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.
