It was August 2007. Tata Steel was turning 100. Jamshedpur, its hometown, had an air of celebration. The line-up for the special event included the launch of Air Deccan's commercial flight connecting Kolkata and Jamshedpur, and release of Russi Lala's new book, Romance of Tata Steel. There was also the screening of The Spirit of Steel, a 20-minute documentary directed by Zafar Hai showcasing Tata Steel's legacy, and a corporate anthem penned by Javed Akhtar and composed by Shankar, Ehsaan and Loy.
Coca-Cola India on Wednesday said it has reduced the overall costs by up to 40 per cent per case over the last three years and that the launch of smaller five-rupee pack has reaped rich dividends in terms of sales.
Exports contracted by 2.6 per cent to $34.47 billion in September even as the country's merchandise trade deficit narrows to $19.37 billion during the month under review, according to the government data released on Friday. Easing commodity prices helped in cutting down the country's import bill by 15 per cent to $53.84 billion in September, the 10th consecutive month of decline. During April-September this fiscal, exports contracted by 8.77 per cent to $211.4 billion.
The red carpet at the British Fashion Awards 2022 saw a parade of flawlessness.
There was an acceptable domestic performance in India but there continues to be concerns about the Europe business and that overshadows the local performance. The consolidated revenues for the Q2FY24 stood at Rs 55,682 crore with an operating profit of Rs 4,315 crore and an operating profit margin of 8 per cent.
The sector may be overcrowded with a fair number of large players and the entry of the Adani Group through its two key acquisitions, followed by the takeover of majority stake in Sanghi Industries via Ambuja Cements. Since every major player is in expansion mode, there could be a capacity surplus and hence, price wars.
Villagers and activists had long been alleging over-exploitation and pollution of groundwater and soil by the unit.
Rising prices of international coal - both coking and thermal - used in the making of ferrous and non-ferrous metals, respectively, are expected to have an impact on margins of metals companies in July-September quarter (Q2) as steel companies may see margins getting eroded, while the base firms could stand to benefit, said brokerages.
A call by the Traders Federation in Tamil Nadu to ban sales of Coca Cola and Pepsi soft drinks came into effect on Wednesday with its president A M Vikrama Raja declaring drinks as 'toxic' for consumption.
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.
After the Ukraine war, coke prices just soared and most units don't have money left to buy raw material. Customers are not absorbing the price escalation'
A few days ago, Reliance Retail surprised the market by acquiring the Campa brand from Delhi-based Pure Drinks Ltd for Rs 22 crore. A successful cola brand in the eighties, especially in North India, Campa Cola thrived when Coke exited India in the late seventies. When the Atlanta-based major returned and PepsiCo set base in India, it went down fighting.
Sarkar made his directorial debut with Parineeta in 2005. He also directed Laaga Chunari Mein Daag (2007), Lafangey Parindey (2010), Mardaani (2014) and Helicopter Eela (2018).
Contracting for the third month in a row, India's exports declined by 8.8 per cent to $33.88 billion in February due to slowdown in global demand, even as the trade deficit touched about a year low of $17.43 billion during the month, according to official data released on Wednesday. Imports also declined by 8.21 per cent to $51.31 billion as against $55.9 billion recorded in the corresponding month last year. Cumulatively, however during April-February this fiscal, the country's overall merchandise exports rose by 7.5 per cent to $405.94 billion.
The American, who moved from US Navy to the corporate world, is considered best suited for this role because of her understanding of both production and distribution. Arnab Dutta & Viveat Susan Pinto report.
India's exports in January dipped by 6.58 per cent to $32.91 billion, as against $35.23 billion in the same month last year, according to the data released by the commerce ministry on Wednesday. Trade deficit in January stood at $17.75 billion.
Exports declined for the fourth-consecutive month by 10.3 per cent year-on-year to $34.98 billion in May, while the trade deficit widened to a five-month high of $22.12 billion. According to the data released by the commerce ministry on Thursday, key export sectors recording negative growth include petroleum products, gems and jewellery, engineering goods, ready-made garments of all textiles and chemicals. Imports also declined 6.6 per cent, six-month in a row, to $57.1 billion against $61.13 billion in the same month last year, the data showed.
Traders' body says retailers have supported boycott; eateries, supermarkets seek more time to decide.
Union Minister Jyotiraditya Scindia on Tuesday pitched for policy guidelines to utilise scrapped vehicles as raw material for steel production, saying there are close to about one crore such vehicles in the country. Scindia, who also holds steel portfolio, said the time is not far away when the country will have to move towards green steel, and therefore, the option of iron ore and coking coal will not be available. Green steel is manufactured without using fossil fuels.
"Lady candidates need not apply." So read the postscript in a job notice from Telco (now Tata Motors) on a notice board in the corridors of the Indian Institute of Science, Bangalore (now Bengaluru), in 1974. Irked, Sudha Murty, who was then pursuing her masters in computer science at the institute, wrote a postcard to JRD Tata, expressing her surprise at this gender discrimination, especially since the Tata Group were pioneers on many fronts. Shortly, Murty became the first woman on the firm's shop floor.
'There were many experts around me,' A Ganesh Nadar discovers at the India-Pakistan hockey game. 'One of them was explaining to his neighbour, that fellow is a good dragger and flicker, that fellow is a penalty corner specialist, that fellow is a penalty specialist, that fellow is a very good defender, etc, freely dispensing with his expert knowledge.'
Ms Marvel's first episode did not bore me, but it made me question the very existence of the first Muslim superhero, observes Subhash K Jha.
PepsiCo has tie-ups with KFC, Pizza Hut, Domino's, Burger King, and Subway in India, while Coca-Cola has a partnership with McDonald's only
Coca-Cola Company on Thursday replaced its corporate website with Coca-Cola Journey, which is a digital magazine that focuses on social causes and company news.
Russia's war on Ukraine has sent steel prices soaring to its highest levels in the domestic market since November 2021. But there is little cheer in the industry. That's because input costs are spiralling out of control, leaving the big boys nearly as high and dry as the small, medium and secondary steel producers. Russia and Ukraine are major providers of steel and raw materials to the world.
Tata Steel has a very British problem. The performance of Europe dragged the steel major's October-December (Q3FY23) performance with the UK business accounting for a major part of the operating loss; on the bottom line, the overhang of the British Steel Pension Scheme (BSPS) showed. And a nearly three-year discussion with the UK government on a support package for a green transition resulted in an offer that fell short of the ask.
Raw material prices had been on the rise, but since Russia waged war on Ukraine, prices have surged.
The officials said that families of the illegal miners are yet to report to the authorities, fearing police action.
The March quarter (Q4) of the ongoing financial year (FY23) may see cement companies report better financial numbers as input costs ease, pricing action resumes, and cement demand remains firm. While companies have been cautiously optimistic about their outlook, analysts and sector experts remain bullish. In its latest report on the cement sector, brokerage IDBI Capital said that it expected earnings before interest, tax, depreciation, and amortisation (Ebitda) per tonne for cement companies to improve by Rs 200-300 sequentially in Q4.
Exports rose by 24.22 per cent to a monthly record high of $38.19 billion in April on account of healthy performance by sectors like petroleum products, electronic goods and chemicals, even as trade deficit widened to $20 billion during the month, the commerce ministry said on Tuesday. Imports during the month under review grew by 26.55 per cent to $58.26 billion. The trade deficit in April 2021 was at $15.29 billion.
India's exports rose marginally by 1.62 per cent to $33.92 billion, while trade deficit more than doubled to $27.98 billion in August due to increased crude oil imports, commerce ministry data said on Wednesday. The revised data showed that imports rose by 37.28 per cent to $61.9 billion in August this year. The preliminary data released by the ministry on September 3 had shown a 1.15 per cent decline in exports to $33 billion in August.
India always faces a Hobson's choice as far as feeding coal-fired generators goes - even if the government is reluctant to admit it. The country cannot do without shipping in the world's most polluting fuel from overseas. And it will continue to do so unless it decides to reduce demand by forcing citizens, farmers and businesses to live without electricity for part of the day, or use diesel generators to fire facilities.
'It's an open secret that the UK business is structurally not in a great place.'
Notwithstanding expectations of a pick-up in construction activity during a seasonally strong January-March quarter (fourth quarter) of 2022-23 (FY23), analysts are cautiously optimistic about the building material sector - encompassing paints, pipes, wood panels, tiles, metals, and cement - as volatile input costs, coupled with fears of a global slowdown, are making demand projections uncertain. Against this backdrop, analysts suggest investors stay selective and pick stocks of companies with stronger brand recall, expanding distribution network, diversified product profile, healthier balance sheet, and sustainable cash flow. "The government's various proposals under Budget 2023-24 (FY24) may lead to the building material segment growing between 8 per cent and 12 per cent for the next five years.
Coca-Cola will sell off its bottling business in India in the next few years.
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.
Remember those scenes in Zindagi Na Milegi Dobara where Abhay Deol, Farhan Akhtar and Hrithik Roshan run ahead of rampaging bulls in Pamplona?
India's exports contracted 12.2 per cent to $34.48 billion in December 2022, mainly due to global headwinds, and the trade deficit widened to $23.76 billion during the same period, according to official data released on Monday. Imports in December 2022 also declined 3.5 per cent to $58.24 billion as against $60.33 billion in the year-ago period. In December 2021, exports stood at $39.27 billion and the trade deficit was at $21.06 billion.
India's exports rose by 2.14 per cent to $36.27 billion in July while the trade deficit almost tripled to $30 billion during the month due to over 70 per cent rise in crude oil imports, according to official data released on Friday. Imports shot up by 43.61 per cent to $66.27 billion in the month compared to July 2021, the data showed. The trade deficit was $10.63 billion in July 2021.
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