As the political uncertainty settles down, investors are reviewing their assumptions about the power sector. Demand here is likely to continue to grow strongly in the long-term at around 5-6 per cent CAGR (compounded annual growth rate) during the next 6-7 years. Given policy continuity, several trends will persist.
Mahindra & Mahindra (M&M) reported very strong results for the January-March quarter of the last financial year (Q4FY24), beating consensus comfortably. The margins of the automobile business improved 170 basis points (bps) year-on-year (Y-o-Y) to 8.8 per cent, while FES (Farm Equipment Sector) margins improved to 15.8 per cent (up 60 bps Y-o-Y), despite a decline in volumes due to cost optimisation and lower raw material costs.
'There cannot be anyone like Air Marshal Keelor -- he was so difficult to emulate.' Air Commodore Nitin Sathe (retd) salutes War Hero Air Marshal Denzil Keelor PVSM, KC, AVSM, VrC who passed into the ages last month.
'When you look at reviving private sector capex, I don't think there's a better story than steel.'
Delhi and Punjab are ruled by the AAP and these are the only two states that have free electricity supply, he said.
Here are list of some of the big ticket announcements.
'It was specifically mentioned in the Gadgil Committee report that this particular area where the colossal landside happened now should be in the Environmentally Sensitive Area under Zone 1.' 'Zone 1 is the most important and ecologically sensitive area, and that it has to be protected entirely.' 'At least 90% of the Wayanad disaster is man-made.'
Delhi Chief Minister Arvind Kejriwal, who was sent to Tihar Jail after a court remanded him in judicial custody in the excise policy case, is spending most of his time meditating, reading books and doing yoga in his cell, sources said on Thursday.
Considering the government's promise of electricity for all by 2012, the only specific mention in the entire Union Budget for the power sector includes the allocation of Rs 7,000 crore (Rs 70 billion)for RGGVY and Rs 2,080 crore (Rs 20.8 billion) for the RAPDRP programme, Indian Electrical and Electronics Manufacturers Association, said. IEEMA welcomes the continuation of reforms, abolition of the fringe benefit tax and proposed introduction of GST on April 1, 2010.
'Arithmetic could decide the Haryana election given the presence of multi-cornered contests.'
Notwithstanding the recent sharp decline in the stocks of public sector companies, analysts at Jefferies remain bullish on this segment. State Bank of India, Coal India, and NTPC are their top picks in this space, they said in a recent note. The public sector undertaking (PSU) or state-owned enterprise (SOE) index, with a 70-percentage-point outperformance versus the National Stock Exchange Nifty50 over the past 12 months, comes after a decade of underperformance before 2020.
Passenger vehicle wholesales in India witnessed a marginal growth in May on account of high base effect and muted demand due to general elections. The overall passenger vehicle dispatches from companies to dealers stood at 350,257 lakh units last month as compared to 335,436 in the same month a year ago, registering a growth of 4 per cent.
Passenger vehicle sales are expected to experience muted growth in the current financial year.
Corporate India is starting to step up its capital expenditure plans amid government incentives and signs of rising demand, company executives and analysts have indicated. This coincides with the Reserve Bank of India (RBI) recently citing a double-digit growth in private capital expenditure. Healthy balance sheets of banks and corporates, along with increasing capacity utilisation and improving business sentiment, are contributing to a favourable environment for sustained growth in private sector investments, the RBI said in its policy last week.
Reliance has a 24 per cent conversion rate of 'oil-to-chemicals' at present and may be targeting 70 per cent conversion.
Adani Green Energy Ltd, the renewable energy arm of billionaire Gautam Adani's conglomerate, plans to raise $409 million through US dollar-denominated bonds to repay a debt obligation falling this year. In a regulatory filing, the company said the bond will have a door-to-door tenor of 18 years. The proceeds will be used to redeem the $500 million 6.25 per cent senior secured notes due 2024, it said adding these notes were issued on June 10, 2019.
TVS Motor Company launched its first electric scooter, Scooty Teenz Electric, in Bangalore on Wednesday. Run on the Valve-Regulated-Lead-Acid (VRLA) battery, the vehicle is powered by a 800 watt motor and can carry up to 130 kg of load. It can deliver an average range of 40 km per nine hours of battery charge. The maximum speed the vehicle can clock is 40 kmph. It is targetted at is teenage girls who use vehicles to travel short distances ranging between 15 and 25 km per day.
A digital economy can only work with uninterrupted electricity supply. So, states now face the unpleasant task of telling their citizens that electricity rates need to be hiked. Subhomoy Bhattacharjee reports.
Posco Daewoo, the South Korean conglomerate whose Cielo sedan and Matiz hatchback were once the pride of Indian car owners, is looking to re-enter India. And its return journey is riding on plans to sell electric bikes and e-cycles. The company termed India's robust economic growth and surging consumer demand as reasons behind its comeback plans, saying they make India "one of the world's most promising consumer markets," according to Y S Choi, general manager, Posco Daewoo South Korea.
In his letter to the Congress National President, Mallikarjun Kharge, Lovely said that all unanimous decisions taken by the senior Delhi Congress leaders have been unilaterally vetoed by the AICC general secretary (Delhi in-charge).
'The ministry may like to consider setting up an ombudsman similar to electricity ombudsman and insurance ombudsman, to ensure a time-bound resolution of consumer issues within the airline sector.'
Prime Minister Narendra Modi on Friday identified agriculture, education and health as three sectors where he believes technology can play a big role, and highlighted efforts of his government.
Siemens delivered a strong margin performance and also reported high other income to beat consensus in the January-March quarter (Q2) of FY24 (the company's year-end is September 30). In addition, it has opted to demerge the energy vertical with a 1:1 award of shares in the newly demerged entity which will be listed by the end of this year (CY25).
Key infrastructure sectors -- from railways to power, and from coal to petroleum -- will not only be part of the achievements but promises too, as the BJP fights to get a third term at the Centre.
Petrol pumps in Mumbai, Nagpur and other parts of the state witnessed long queues on Tuesday as people came to fill up their vehicle tanks fearing shortage of fuel amid the protest by truck drivers.
'MNCs now recognise India's capacity for innovation and its pivotal role in substantive contributions to global product development.'
'Like every Budget, this time, too, there is chatter around tinkering with the long-term capital gains tax.' 'Investors may not want to jump into the markets until there is clarity on this front.'
A total of 1,016 candidates -- 664 men and 352 women -- have qualified in the examination and have been recommended by the Union Public Service Commission for appointment to various services.
This was the first general election in the valley after the abrogation of Article 370 and the enactment of the Jammu and Kashmir Reorganisation Act, 2019, the EC said in a statement.
Aizawl has been cut off from the rest of the country due to a landslide on National Highway 6 at Hunthar.
Notwithstanding robust volume growth and a strong performance from Jaguar Land Rover (JLR), Tata Motors, the country's second-largest automobile (auto) manufacturer by market capitalisation, disappointed the Street with its January-March quarter (Q4) results for 2023-24 (FY24). While consolidated revenues saw a 13 per cent increase, lower-than-expected realisations in the Indian operations weighed down overall performance.
Bajaj Auto's market capitalisation (market cap) hit Rs 2 trillion mark for the first time. The stock of the two and three-wheeler major rallied 6 per cent to hit a new high of Rs 7,420 on the BSE in Tuesday's (January 9) intraday trade after its board approved Rs 4,000 crore share buyback at Rs 10,000 per share. The stock ended the day at Rs 7,093.75, up 1.55 per cent and its market cap a shade above Rs 2 trillion.
Hyundai Motor India expects SUV sales to account for 65 per cent of its overall volumes in 2024, while it gears up to enter the EV segment early next year, aiming to garner 20 per cent of its total sales by 2030, its COO Tarun Garg said on Tuesday. The automaker, which got around 60 per cent of its overall volumes from sports utility vehicle (SUV) sales last year, plans to invest Rs 7,000 crore on its second plant at Talegaon, according to Maharashtra Deputy Chief Minister Devendra Fadnavis. The company officials however declined to comment on the matter.
Power Grid Corporation (PGCIL) intends to ramp up its capex substantially through the next two financial years. The Public Sector Undertaking (PSU) utility posted flat consolidated revenues of Rs 10,700 crore in the third quarter of the current financial year (Q3FY24) and reported 7 per cent year on year (Y-o-Y) growth in net profit to Rs 4,000 crore. The Q3FY24 capex stood at Rs 3,440 crore and capitalisation at Rs 1,780 crore, taking the 9MFY24 total to Rs 8,700 crore capex and Rs 5,800 crore capitalisation, respectively.
Many individual states experienced higher inflation than the all-India figures during the financial year 2023-24 (FY24). Retail inflation figures in Telangana, Haryana, Rajasthan and Dadra and Nagar Haveli have been higher than national numbers every month of this financial year, shows a Business Standard analysis of state-wise figures, after the March inflation data was released on Friday. Experts noted that persistent high food inflation along with differences in the weights of rural and urban indices plays into the regional variation in inflation rates.
'This is what happens to a party when it gets trapped in the vicious circle of nepotism and dynastic politics'
'In April, we saw a 10 per cent growth in our own volumes.'
Prime Minister Modi's visit saw India and the US signing several major deals to boost cooperation in key areas such as defence, space and trade.
Indian policymakers must realise that in buying small quantities of equipment, it becomes hard to start manufacturing them in India, explains Ajai Shukla.
Applicants for Indian citizenship under the Citizenship (Amendment) Act 2019 (CAA) can submit any of nine documents, including valid or expired passport, ID cards and land tenancy records, to prove he or she is a national of Afghanistan or Bangladesh or Pakistan.
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