Toyota Kirloskar Motor (TKM) has reported a consolidated net profit of Rs 4,787 crore for 2023-24 (FY24) - more than three times the earnings recorded the previous year. This growth can be attributed to robust demand for its vehicles, particularly hybrid models and cross-badged cars from the Toyota-Suzuki alliance.
Given the high priority accorded to the manufacturing sector, several policy initiatives around the theme of Atmanirbhar Bharat have been set in motion to address its competitiveness and growth. Some notable examples include the PLI scheme and the employment-linked incentive scheme announced in the recent Union Budget. The Budget also announced the setting up of 12 industrial parks under the National Industrial Corridor Development Programme (NICDP).
Estimated to cost $44 billion, the project was expected to be commissioned by 2025.
The UN Security Council on Tuesday failed to adopt a resolution calling for humanitarian ceasefire in the Israel-Hamas war after a veto by the US.
IndiGo has delivered impressive operating performance in the past six quarters as it navigated cost and capacity challenges. It has managed to mitigate the impact of faulty engine-related groundings. The airline has also managed costs related to grounding, expensive secondary leasing, increasing airport charges, and pilot compensation inflation and delivered stronger yields and spreads.
India to play against England and Netherlands in World Cup warm-ups
Gadkari is credited with the construction of more than 90,000 km of national highways and 30,000 km of new roads in the country in the last 10 years.
BPCL is a high revenue-earning public-sector undertaking (PSU) and plans to privatise it are completely off the table, Petroleum and Natural Gas Minister Hardeep Singh Puri said on Tuesday after assuming charge of the ministry for the second time. "Why would we divest ourselves of highly successful Maharatnas like BPCL," Puri said, arguing the Centre was not in favour of divesting its stake in oil PSUs.
Net inflows were $18.4 billion for the rolling 12-month period ended January 2024 compared to $32.7 billion for the rolling 12-month period ended January 2023.
The hosts' first warm up game against England also met with a similar fate in Guwahati last week.
'With the deployment of a higher degree of mechanisation, awarding contractual mining to MDOs and operational efficiency, we feel confident of achieving the desired target.'
After some enforced slowdown in offtake during April-May 2024 due to elections, the cement sector is looking at a possible demand rebound which may help it to push up prices. The April'24 offtake was muted while May'24 saw some improvement with a likely 5-6 per cent rise in demand month-on-month (MoM). In June, some price hikes seem to have been taken, which suggests more sustained improvement in demand.
'When there are no good roads and no buses plying to villages, your spending on development is skewed.'
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.
Prime Minister Narendra Modi virtually laid the foundation stone for a Rs 27,000-crore semiconductor assembly and test facility in Assam's Morigaon district on Wednesday. Chief Minister Himanta Biswa Sarma, who was present at the event organised at the site of the facility in Jagiroad, said today is a landmark day for Assam and the North East. "Hon'ble Prime Minister Shri Narendra Modi Ji is laying the foundation stone for the Rs 27,000 crore Tata Semiconductor Assembly and Test facility at Jagiroad," the chief minister posted on 'X'.
Chip giant Qualcomm chief executive Cristiano R Amon and billionaire Gautam Adani on Monday discussed role of AI, semiconductors and edge appliances across markets in the fast changing global technology space. The two leaders met in Mumbai on Monday morning to discuss India's potential around semiconductors, AI and mobility, according to a social media post by Adani. While Qualcomm is big on designing and manufacturing semiconductors and wireless telecommunications products, Adani group had in 2022 bought a small quantity of fifth generation or 5G spectrum for private captive network deployment in ports, logistics and power generation among others.
Ahead of the ODI World Cup, an inspection team from the International Cricket Council is checking the readiness of venues that will host the quadrennial extravaganza in October-November this year.
Devon Conway scored a half-century to guide New Zealand to a seven-run victory over South Africa in a rain-affected World Cup warm-up game on Monday.
'I might have to compete in para category, but all that I will know when my injury report is made after four weeks," the shooter, who hails from Baghpat district in Uttar Pradesh.'
The United Nations Security Council on Monday passed a resolution demanding an immediate ceasefire in Gaza for the month of Ramzan, a breakthrough coming after more than five months since the start of the Israel-Hamas conflict.
Adani Ports and Special Economic Zone Ltd (APSEZ) on Tuesday announced the acquisition of a 95 per cent stake in Gopalpur Ports in Odisha from Shapoorji Pallonji Group and Orissa Stevedores Ltd at an equity value of Rs 1,349 crore. In Gopalpur Ports, Shapoorji Pallonji Group (SP Group) firm SP Port Maintenance Pvt Ltd has a 56 per cent stake and Orissa Stevedores Ltd (OSL) has a 44 per cent stake. Gopalpur Port is an all-weather deep-water berthing port with a capacity of 20 million tonnes per annum (MTPA) situated in Ganjam district of Odisha.
The resolution, sponsored among others by Algeria, Bahrain, Iraq, Kuwait, Oman, Qatar, Saudi Arabia, United Arab Emirates and Palestine, demanded an immediate humanitarian ceasefire in Gaza and reiterated its demand that all parties comply with their obligations under international law, "notably with regard to the protection of civilians."
'Now that we are a pure-play India business, many investors are open to investing.'
In FY23, Indian operations accounted for 41.6 per cent of the consolidated revenue of India's top five multinationals, up from 34 per cent in FY18 and 33.2 per cent and 34.2 per cent in FY21.
Poor turnout for the third and final ODI in Thiruvananthapuram, on Sunday raised serious questions about the relevance of the 50-over format
The first leg of Micron's semiconductor play in Sanand is crucial for the company to sprint towards India's goal of joining the chip race.
The Indian Navy, which was earlier looking towards the US for design expertise, technical know-how and operational practices, is now considering the advantages of working with the Royal Navy.
ITC highlighted that legal cigarettes account for 9 per cent of tobacco consumption in India, but 80 per cent of tax collection is from tobacco products. While illicit cigarettes account for roughly one-third of the market share, legal cigarette volumes have recovered to around 96 per cent of peak FY13 volumes, after dipping to 70 per cent in FY21.
The resolution proposed by Russia that called for a humanitarian ceasefire in Gaza but made no mention of Hamas' attack on Israel.
The Greenfield stadium has a capacity of 55,000 seats and the KCA said on Monday that 2,000 tickets for the opening T20I are still up for grabs.
The third ODI, a day-night match, will be held on Sunday at the Greenfield International Stadium in Thiruvananthapuram.
In a bizarre incident, a national-level shooter recently lost his left thumb when the 10m air pistol cylinder he was filling exploded, at the Karni Singh Range.
The United Nations Security Council has called for urgent humanitarian pauses and corridors throughout Gaza to allow unhindered humanitarian access in the strip, finally overcoming deadlock and adopting a resolution in the month-long Israel-Hamas conflict.
The Centre is unlikely to offer new direct tax incentives for units operating in special economic zones (SEZs) and may instead allow the grandfathering of previous exemptions that such units were entitled to, according to proposed amendments to the SEZ Act, 2005, people aware of the matter said. The amendments, proposed by the commerce department, will soon be considered by the Cabinet for approval. This represents a departure from the department's earlier plan to introduce these changes through the Development Enterprises and Services Hubs (DESH) Bill, 2023, which faced strong criticism from the ministry of finance.
'To sustain our growth trajectory, we must continue to explore and capitalise on growth opportunities.'
Richest Indian Gautam Adani-led group's flagship firm on Wednesday filed an offer letter with stock exchanges for a proposed Rs 20,000 crore follow-on public offer (FPO). The FPO of Adani Enterprises Ltd (AEL) is planned to open on January 27 and close on January 31, according to the offer letter. Of the Rs 20,000 crore proceeds of the FPO, Rs 10,869 crore will be used for green hydrogen projects, work at the existing airports and construction of a greenfield expressway.
South Africa pacer Kagiso Rabada believes Proteas have all the strength to shake the 'chokers' tag and get their hands on the coveted ICC Men's Cricket World Cup trophy for the first time.
'Interim Budget has ignited the entrepreneurial spirit.'
'After the first ball that hit him, he wanted to play his shots, be aggressive and take on the bowling.'
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