The combined net profit of "early bird" companies, those that have declared their quarterly results, rose for the third consecutive quarter in July-September 2023 (Q2FY24). But the figures suggest a continued slowdown in revenue growth and stagnation in earnings over recent quarters. This slowdown is severe for companies in the manufacturing and non-financial service sectors.
Petrol price was tonight hiked by about 35 paise per litre in line with firming raw material cost.
Manufacturing activities in India touched a three-month high in March boosted by faster expansions in new orders and output amid demand resilience and easing of cost pressures, according to a monthly survey. The seasonally adjusted S&P Global India Manufacturing Purchasing Managers' Index (PMI) rose from 55.3 in February to 56.4 in March, signalling the strongest improvement in operating conditions in 2023 so far. The March PMI data pointed to an improvement in overall operating conditions for the 21st straight month.
'Kerala isn't as dependent on agriculture like Bihar or Odisha or even other southern states.' 'Economic losses would not be too intense, unlike other states.' 'The floods could, at best, impact India Inc's earnings for a quarter or two.'
After visiting those being treated at Villupuram government medical college hospital, Chief Minister MK Stalin told reporters Villupuram that investigation into the matter would be transferred to the CB-CID and he assured tough action.
Taking cue from holy book Bhagwad Gita, the draft telecom bill has equated spectrum to the soul which remains immortal and has used the analogy to propose its use for continuity of telecom service of entities that face insolvency.
Rupee breaching the 58 to a dollar will negatively impact companies like Adani Power and Tata Power.
"We do not have it anywhere else other than the Jharia coal fields in Jharkhand. The quality is also not very good for steel-making. So the Indian steel industry will continue to depend on imported coal," says Arun Kumar Jagatramka, MD, Gujarat NRE Coke.
From raw material shortage to environmental activists and high debt, Vedanta Resources is up against a lot.
Factories, shops closed for four days; list of dead now 38.
The company had entered into a pact with state run miner Odisha Mining Corporation (OMC) to source bauxite from the ecologically fragile Niyamgiri hills with deposits of around 70 million tonne.
The panel headed by Justice (retired) Ritu Raj Awasthi has submitted its report to the government, calling for an exhaustive overhaul of the law.
Abolition of customs duty and special additional duty on man-made fibres as it would help the industry to source fibres from global markets during the time of shortage or a sharp increase in domestic prices.
As many as 267 of 453 companies from the BSE500 index are trading above their consensus price targets, according to the data compiled by Bloomberg. Not all companies in the BSE500 index are tracked by analysts.
Despite near-term headwinds of rising input costs and the possibility of lower demand for products as Covid dented rural & urban India, and impacts both production & consumption, analysts remain bullish on stocks of fast moving consumer goods (FMCG) companies and expect the index to relatively outperform its peers in the second half of fiscal 2021-22 (FY22). In the past one year, prices of key commodities such as groundnut oil, mustard oil, Vanaspati, soya oil, sunflower oil and palm oil have shot up in the range of 20 per cent to 60 per cent, data show. The FMCG sector macros in this backdrop, according to analysts, have further deteriorated because of weakness in consumer demand and likely margin pressure due to elevated crude oil, palm oil and global food prices.
Parts suppliers hit by vehicle manufacturers' production cut, raw material shortage.
This will also give an impetus to the National Manufacturing Policy.
'For the first time ever it has come below 1 per cent, at 0.97 per cent.'
Most of the labourers in manufacturing plant are migrant workers. With them moving back to native places, there is going to be a huge challenge.
500 million doses per annum from its two sites in Hyderabad and 200 million doses each from its Ankleshwar and Kolar facilities.
While the past year has been full of controversies, the next promises a better regulatory regime.
An over-capacity situation in China would dent India's drive to ramp up exports.
A muted revenue performance in the September quarter and weak management commentary weighed on the stock of consumer major Marico which shed 8.5 per cent to Rs 542 from its intraday highs on Tuesday. The company indicated that demand trends were similar to that of the June quarter with instances of increasing food prices and below-normal rainfall distribution in some regions impeding the anticipated recovery in rural demand.
The Russian-Ukraine war can hit the global supply chains that are already constrained due to the pandemic and the worst impact will be on ongoing chip shortage because the warring nations brutally control supplies of key raw materials that go into making semiconductors, warns a report. Since Russia controls as much as 44 per cent of global palladium suppplies, Ukraine produces a significant 70 per cent of the global supply of neon -- the two key raw materials that go into making chips. The markets can expect the global chip shortage, that began with the pandemic, to worsen if the military conflict lingers on, says a Moody's Analytics report on Friday.
Prime Minister Manmohan Singh, in his remarks after discussions with US President George W Bush, said "For 34 years, India has suffered from a nuclear apartheid. We have not been able to trade in nuclear material, nuclear reactors, nuclear raw materials. And when this restrictive regime ends, I think a great deal of credit will go to President Bush."
To address the shortage of COVID-19 jabs in the country, the government is exploring the possibility of boosting production of vaccines, including identifying manufacturing sites for indigenously developed Covaxin outside India, sources said.
While several export-oriented Indian companies such as Cipla and Reliance Industries Ltd (RIL) are rejoicing at the prospects of the rupee falling further, others that are importing raw materials such as coal and oil might see a big hole in their bottom line.
The cost of open cells has seen an average increase of between 3 and 20%, and is higher for larger screen TVs in July, according to manufacturers of televisions
India can become the number one automotive manufacturing hub in the world within five years, but auto companies need to enhance safety features to reduce deaths due to road accidents, Union Minister Nitin Gadkari said on Thursday. In his inaugural address at the Auto Expo 2023 here, the minister for road transport and highways asserted that the government's target is to reduce these accidents by 50 per cent before the end of 2024 while asking the auto industry to take suo moto action for road safety as the government doesn't want to make anything mandatory. Gadkari's sentiments were also echoed by Minister of Heavy Industries Mahendra Nath Pandey, who lamented that while India has only 1 per cent of the total overall vehicles, the country accounts for 11 per cent of the total global deaths due to road accidents.
The company has not indicated the exact rise in prices of its models
A German brand just launched a bag that has been run over by a Merc.
The pace of hiring by private sector companies was also slowest in seven months, as per a monthly HSBC India survey of services sector managers.
A special investigating team on Tuesday arrested three more persons here in connection with planting of pipe bomb allegedly targeting Bharatiya Janata Party leader L K Advani during his 'Jan Chetna Yatra' in 2011.
The Rajkot-based auto component industry, which was doing well last year, has hit multiple road blocks -- rupee depreciation, high interest rates and high petrol prices.
While analysts remains overweight on financials, property, discretionary, industrials and materials, they maintain a neutral stance on pharma, telecom and energy; and underweight on staples, utilities, and IT services.
Policy could end land acquisition and green nod problems, and encourage foreign investors.
The industry is facing scarcity of raw material and steel import is on a rise.
The high court's order, which says refunds paid on service inputs can be restricted, runs contrary to Gujarat HC verdict and could complicate matters.
While tukkal salers claim that their business has doubled this season, kite makers and retailers say that business has been down by around 25 per cent.
