'Favourable product mix, sales recovery, and cost saving initiatives are expected to support margins going ahead while focus on debt reduction (target of debt free by FY24) will aid balance sheet strength'
'I don't think there will be a direct reaction to the fuel price hike on air ticket prices.'
United States President Joe Biden will travel to India from September 7 to 10 to attend the G-20 Leaders' Summit during which he will discuss with other leaders a range of global challenges, including the Ukraine conflict, the White House announced on Tuesday.
Hinduja Group flagship Ashok Leyland has lined up investment worth Rs 5,250 crore (Rs 52.5 billion) to enhance its production by 1,40,000 units over a period of next four to five years.
'We are expected to grow at above 28 per cent this year, higher than the industry.'
Watchdogs of the economy have not been barking and it is high time we noticed it, says Shreekant Sambrani.
Since its results, the stock of bottling and beverage distribution company Varun Beverages (VBL) is up 7 per cent on the back of a strong 2022-23 January-March quarter performance, robust outlook, and revision in profit estimates. Given the sharp uptick, it is now part of the trillion-rupee club, with its market capitalisation at Rs 1.01 trillion. The stock is one of the best performers in the consumer space as well as the S&P BSE 200, of which it is a constituent.
Post-bribery disclosure, Cognizant is not pursuing greenfield expansion in the country and relying on leased facilities for new demands. The incident, which came to light in 2016, is also said to have claimed 200-300 jobs so far mainly in areas like administration, legal, and procurement.
The cement sector may be looking at better realisations and higher volume offtake going by the trends of the October-December quarter of the 2022-23 financial year (Q3FY23), a recent price hike, and the promise of a continued infrastructure thrust in FY24. In Q3, revenues rose by an aggregate of 17 per cent year-on-year (YoY), but Ebitda (earnings before interest, tax, depreciation and amortisation) per tonne, fell by 14 per cent YoY while profit after tax (PAT) rose by 23 per cent YoY. Expenses were up 30 per cent per tonne YoY - power and fuel costs in particular - and that's no surprise given the rise in fossil fuel prices.
Consolidated earnings of Bharat Forge in Q3FY23 missed estimates, largely due to higher-than-expected interest burden, although operational numbers (including standalone numbers) were close to consensus. Still, the management guidance was positive and appeared to be based on logic.
These five stocks, which have lagged the markets over the last two years, have doubled in value since March 23.
US-based boutique investment firm GQG Partners along with other investors on Wednesday bought an 8.1 per cent stake in Adani Power Ltd for over Rs 9,000 crore ($1.1 billion) as the marquee investor shrugged off damning report of a US short seller to invest in billionaire Gautam Adani's group.
'Now that we are a pure-play India business, many investors are open to investing.'
Barclays said the refinery would, however, now need to find new sources for the energy for its internal uses.
Some of the country's leading FMCG companies they include Nestle, Coca-Cola and Tata Coffee - are investing over Rs 1,800 crore (Rs 18 billion) in the next few months to expand capacity or for inorganic growth.
Adani Enterprises, the flagship company of the Adani Group, reported a profit after tax of Rs 557 crore for the first quarter ended June 30, 2014 on the back of a 43 per cent jump in revenue.
'Our endeavour with season two was to be more grand with the weddings and deeper with the characters.' 'So, it is a more nuanced and layered look at the themes that we did in season one.'
Brokerages lowered their earnings estimates following muted results in Q1FY24. While analysts remain optimistic about the stock's medium-term prospects, they highlight near-term concerns stemming from lower realisations due to changes in the product mix and margin pressures resulting from new plane additions.
India is poised to be the fastest-growing major economy in the world and an engine of global growth despite global headwinds, says leading industrialist and Aditya Birla Group Chairman Kumar Mangalam Birla. The economic activity in India has witnessed a sharp recovery to pre-pandemic levels on the back of a rapid and widespread rollout of the vaccination programme, Birla said in the latest annual report of UltraTech Cement Ltd. "A strong digital ecosystem, fiscal and monetary policy and various government schemes helped small and medium enterprises and the worst affected sections of the population to survive while reviving demand and bringing the economy back on track," said Birla while addressing UltraTech's shareholders.
Maharashtra Deputy Chief Minister Ajit Pawar-led Nationalist Congress Party has informed the Election Commission that he has been elected national president of the party.
The engineering and construction (E&C) sector delivered an excellent performance in the last two financial years (FY2021-22 or FY22 and FY23's nine-months) and there's reason to believe that FY24 will also see outperformance. The sector has emerged from the pandemic with stronger balance sheets and more rational cost structures. It has a big order book and it should see new order flows accelerate in FY24.
'The Indian govt's initiatives on EVs are very strong and customers want to buy EVs. This will make the country's conversion to EVs faster than other markets, and I hope even faster than the US'
Days after completing a $6.5 billion acquisition of Ambuja Cements and ACC, billionaire Gautam Adani said his group has planned to double cement manufacturing capacity and become the most profitable manufacturer in the country. He saw a multifold rise in cement demand in India on the back of record-breaking economic growth and the government's infrastructure creation push, which will give significant margin expansion. In a speech made at an event to mark the completion of the acquisition on September 17, the Adani Group founder and chairman said the ports-to-energy conglomerate has in a single stroke become the second largest cement manufacturer in the country.
The EV industry is at an inflection point and batteries will play a critical role ahead -- batteries and related components typically constitute 35-45 per cent of an EV's costs.
Biscuits major Britannia Industries on Monday said it would increase capacity by 20 per cent by expanding existing operations and going to new sites.
Large retailers are allegedly importing apparel made of Chinese fabric from Bangladesh at nil duty, under our free trade agreement with the latter country. However, the same agreement does not permit duty-free export from here.
Indian customers will have wider travel options as airlines introduce new flights from the end of March. While Malaysian Airlines and Turkish Airlines are resuming passenger flights to India after a gap of two years, Air France-KLM and Lufthansa Group will scale up their existing service in a graded manner in the summer schedule. Emirates, the largest foreign airline operating in India, too, is looking to restore its pre-Covid-19 schedule of 172 flights per week.
The Vadinar refinery in Gujarat currently operates at a capacity of 7.5 million tonnes and it is expected to reach its full capacity of 10.5 million tonnes by October.
Billionaire Mukesh Ambani's children -- Isha, Akash and Anant -- on Monday were appointed on the board of his energy-to-technology conglomerate Reliance Industries Ltd, in what is seen as a clear path of succession planning at India's most valuable company.
China is expanding its nuclear force and is likely to have a stockpile of about 1,500 warheads by 2035, up from the current estimated number of 400, the Pentagon has said in a report that notes that Beijing aims to expand its national power through both domestic and foreign policy initiatives.
'The ministry of home affairs has all records of money coming in from abroad.' 'Are they saying money is coming in without their knowledge?' 'Does the governor doubt the MHA?'
In another tweet, he congratulated his own government for completing the construction work on time.
'Building a whole product with the railways was challenging; we had to figure out how to load and unload a train when it stops for only about five minutes at a station.' 'We also helped them understand the revenues this would generate for them.'
Industrial metals (ferrous and non-ferrous) suffered great volatility once the Ukraine War began in February 2022. First, there was a sharp price rise due to fears of supply disruption, followed by weak global demand. China's weakness and rolling lockdowns have hit production and demand.
With a revival in demand and consumption, FMCG companies are looking forward to 2022 with positivity and hopes of sustaining a healthy growth trend across both rural and urban markets while gearing up to cater to the ever-increasing digitally active consumers and tackle the challenge of higher commodity prices. Health and wellness and convenience are going to remain key trends and FMCG companies are strengthening their core brands, driving premiumisation across their portfolios with targeted innovations as consumers are gravitating towards trusted brands looking for quality, purity and hygiene, in continuation of the trend that started since the pandemic last year. FMCG makers are accelerating digitalisation and are investing in building capability in e-commerce and Direct-to-Consumer channels, identifying it as a key vector of their growth as the threat of a possible third wave is still not away.
A four-member panel of secretaries is likely to submit its report on a new gas pricing mechanism to the government by Wednesday.
Mumbai-based pharma major Lupin will invest over Rs 200 crore (Rs 2 billion) this year to create additional manufacturing capacities.
India's largest oil firm IOC will build the nation's first 'green hydrogen' plant at its Mathura refinery, as it aims to prepare for a future catering to the growing demand for both oil and cleaner forms of energy. Indian Oil Corporation (IOC) has drawn a strategic growth path that aims to maintain focus on its core refining and fuel marketing businesses while making bigger inroads into petrochemicals, hydrogen and electric mobility over the next 10 years, its chairman Shrikant Madhav Vaidya said. The company will not set captive power plants at all its future refinery and petrochemical expansion projects and instead use the 250 MW of electricity it produces from renewable sources like solar power, he told PTI in an interview.
