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.
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.
Maturity extension for redeemable preference shares stuck due to lack of directions in FDI rules.
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.
Remember those scenes in Zindagi Na Milegi Dobara where Abhay Deol, Farhan Akhtar and Hrithik Roshan run ahead of rampaging bulls in Pamplona?
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.
'It's an open secret that the UK business is structurally not in a great place.'
Beverages major, Coca-Cola India, will use the might of Mumbai dabbawallas to lure customers to sample its orange juice drink, Minute Maid Pulpy Orange.
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.
Global soft drink giant Coca-Cola has made a pre-merger filing with the US anti-trust regulators regarding a possible acquisition of energy drink maker Glaceau, in which India's Tata Group holds a 30 per cent stake.
Coca Cola has launched a communication programme for 2007 summer based on the theme Sabka Thanda Ek.
'You've to wait for the correct project and the right character.'
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.
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.
When the world was upended by the Covid-19 pandemic, metals got its shine back. In the last two years, infrastructure spending by major economies spurred demand, energy transition and intermittent supply disruptions fuelled a scorching rally in metals after a downturn during the first Covid wave. Now, Russia's war on Ukraine is ensuring that elevated prices stay the course.
The Perumatty panchayat in Palakkad district in Kerala, which had last week issued a licence to multinational beverage company Coca Cola to operate its Plachimada plant for three months, on Monday rejected the cola company's request to operate for tw
In a rebuff to Coca Cola's plan to reopen its plant at Plachimada near Palakkad in Kerala, the Perumatty Panchayat has rejected the soft drink company's application to renew its licence on the basis of the Kerala High Court order permitting it to dra
Acceleration in demand, together with marginal price hikes of about 2-3 per cent by cement companies in the October-December quarter (third quarter, or Q3) of 2022-23, may not be enough to cushion the impact of high input costs on the bottom line, reveal Bloomberg consensus estimates for the quarter. Year-on-year (YoY) net sales growth in Q3 will come in at nearly 7 per cent, shows Bloomberg data, while bottom-line growth will show a sharp decline of 25 per cent from a year ago. The earnings before interest, tax, depreciation, and amortisation (Ebitda) will likely decline by nearly 5 per cent versus a year ago, shows data.
Despite the onslaught of international brands -- Coke and Pepsi -- the fizz has not gone out of India's very own cola brand, Surajeet Das Gupta.
India's exports recorded a flat growth of 0.59 per cent to $31.99 billion in November, even as trade deficit widened to $23.89 billion during the month, according to the data released by the government on Thursday. Exports stood at $31.8 billion in November last year. Imports rose by 5.37 per cent to $55.88 billion in November as compared to $53.03 billion in the corresponding month a year ago, the data showed. During April-November 2022, exports rose by 11 per cent to $295.26 billion as against $265.77 billion in the same month last year.
It is also testing a concept sourced in Australia, storing local fruit in an ice dispenser, freezing it and offering it to consumers as a sorbet without any artificial sweeteners or flavours.
Coca-Cola's sports-loving CEO on the strategy that has helped him steer the soft drinks giant out of various crises.
The company is also focusing on its Georgia tea and coffee brand. The company recently launched energy drink 'Burn' in selected markets of Delhi, Goa, Mumbai and Bangalore. Singh said India was a strategic market for Coca Cola.
By refusing to follow the pack and remain politically correct, Aamir Khan has paid a price. A fascinating excerpt from Shobhaa De's new book, Insatiable.
India's merchandise exports in June rose by 16.78 per cent year-on-year to $37.94 billion while the trade deficit ballooned to a record $25.63 billion on account of a steep increase in gold and crude oil imports, according to the government's preliminary data released on Monday. The export growth in June moderated from 20.55 per cent in May and 48.34 per cent in June 2021. During the month under review, exports of engineering, pharmaceutical and plastic products recorded negative growth.
Exports in June rose by 23.52 per cent to $40.13 billion while the trade deficit ballooned to a record level of $26.18 billion mainly due to jump in gold and crude oil imports, the government data said on Thursday. The country's export growth in May was 20.55 per cent. Imports expanded by 57.55 per cent to $66.31 billion in June compared to the year-ago month, the data showed.
'Sex is such a healthy thing that your first encounter with it should be good, otherwise it scars you for life, it disturbs you for life.'
Soft drink major Coca Cola said on Tuesday it will launch a new advertisement campaign from Wednesday as part of its marketing communication strategy for 2007.
PepsiCo will file a petition in the Kerala high court on Friday challenging the Kerala government's August 11 order banning the sale of some of its products in the state.
Pledging support to anti-Cola struggles, former Union Minister George Fernandes demanded the permanent closure of the Coca Cola plant at Plachimada in Kerala's Palakkad district.
PepsiCo said on Monday its long-term investment plans for India would not be affected by the pesticide-in-cola controversy that prompted several state governments to ban its products.
Do you agree with our lawmakers that consuming cola is nothing short of slow poisoning?
The Centre for Science and Environment on Wednesday came out with a fresh study claiming the presence of 'pesticide cocktail' in 11 brands of soft drink giants Coca Cola and PepsiCo.
How expensive was this 'picture of the century'?
Ms Marvel has some super heroic stuff and emphasises that there are no limitations from one's religion if one wants to follow one's dream, applauds Saarah Aslam.
Village panchayat unanimously passed a resolution declaring it would not allow the MNC to go ahead with its plans.
The Bombay High Court on Wednesday stayed the order of income tax authorities attaching bank accounts of Coca-Cola for recovery of outstanding tax dues to the tune of Rs 77 crore.
