Companies plan another round of price hike to offset high input cost.
"2.3 million tons of purified terephthalic acid (PTA) plant at Dahej (in Gujarat) with the ability to increase it by another 1.15 million tons of PTA at a later stage," the company said in a press statement.
Facing a steep rise in raw material and interest costs, pharmaceutical companies have sought an increase in prices of regulated medicines, saying otherwise they may be forced to curtail production of certain medicines that have become unprofitable.
Billionaire Mukesh Ambani's Reliance Industries has signed a pact to invest an undisclosed amount in a giant petrochemical hub being built in the UAE. The oil-to-telecom conglomerate will join the recently-formed Ta'ziz joint venture of Abu Dhabi state energy giant Adnoc and state holding company ADQ for developing the Ruwais Derivatives Park in western Abu Dhabi. A company statement said an agreement has been signed for Reliance to invest in the project but did not give details. Unconfirmed reports put the investment at about $1.5 billion.
Seeks declared goods status to Natural gas; extension of tax holiday benefits to find and sale of natural gas
Petrol and diesel prices were cut by Rs 2 per litre each as state-owned oil companies ended a nearly two-year-long hiatus in rate revision, just hours before the general election schedule was announced.
Finance Minister Nirmala Sitharaman will attend the G-20 joint finance and health ministers' meeting in Rome on October 29, which among other things will discuss COVID pandemic prevention and response. "Union Finance Minister Smt. @nsitharaman embarks on an official visit to attend #G20 Joint Finance & Health Ministers meeting in #Rome to discuss measures to strengthen #COVID19 #PandemicPrevention, #preparedness & #response. The meeting precedes #G20RomeSummit," the Finance Ministry tweeted. Finance and health ministers will discuss how to keep momentum in response to the pandemic and build on further coordination arrangements between the ministries.
Finance Minister Pranab Mukherjee presented the Union Budget 2011-12 in Parliament on Monday. While the finance minister made the tax payers slightly happy by raising the exemption limit to Rs 180,000, he made many others unhappy.
Domestic producers of hot rolled steel, the intermediate that is used by automobile and consumer durables manufacturers, have emphatically ruled out the possibility of dropping prices ahead of the imposition of a safeguard duty on imports.
For instance, Dr Reddy's Laboratories has six active pharmaceutical units in Andhra Pradesh. The waste streams from the API units mostly contain potassium sulphate, caustic lye, potassium chloride, potassium sulphate and sodium sulphate salts.
With Prime Minister Pushpa Kamal Dahal 'Prachanda' resigning over the issue of sacking of the army chief Gen Rookmangud Katawal, the land-locked country plunged into street protests and strikes affecting business. Strike in the Tarai region, the lifeline of Nepal, has hampered businesses heavily.
With Prime Minister Pushpa Kamal Dahal 'Prachanda' resigning over the issue of sacking of the army chief Gen Rookmangud Katawal, the land-locked country plunged into street protests and strikes affecting business. Strike in the Tarai region, the lifeline of Nepal, has hampered businesses heavily.
The company is already in talks with Indian oil refiners to buy paraxylene which is developed from naphtha, a refining byproduct. The company plans to use paraxylene as a raw material to make purified terephthalic acid (PTA), a petrochemical product used in polyester and plastic.
Costly inputs, dearer loans, volatile rupee squeeze profits, margins in Q2.
Costly inputs, dearer loans, volatile rupee squeeze profits, margins in Q2.
The hike in prices of these items has come about over and above milk, onion, garlic, and other vegetables which have become expensive in the past few weeks.
Pursuit of raw material had landed Bhushan Steel in the coal block allocation scam.
The automobile sector has started seeing volume growth, the crucial economy segment included. Maruti Suzuki India (MSIL) could be a big beneficiary as the country's largest passenger vehicle (PV) maker has seen several favourable developments including volume recovery. Demand for its new sports utility vehicles (SUVs) appears to be good, and the company has 4 lakh outstanding orders by April 2023, (up from 3.6 lakhs in January 2023). Siam (Society of Indian Automobile Manufacturers) estimates that passenger vehicle demand would grow by 5-7 per cent in the 2023-24 financial year (FY24) and MSIL is likely to beat the market growth.
The medium-term scenario for oil marketing companies (OMCs) is high risk due to the surging crude and gas prices. Apart from OPEC-plus cutting production, the Hamas-Israel conflict has caused fears of supply disruption. The July-September quarter of 2023-24 (Q2FY24) saw positive surprises for OMCs. Strong gross refining margins (GRMs) more than offset weak marketing margins.
Last Friday, the Supreme Court in a ruling allowed auction of 1.5 million tonne of iron ore a month.
Maruti Suzuki India Ltd is not contemplating any price raise, despite a 20-30 per cent surge in raw material prices in recent months.
While FMCG companies were not barred from carrying out their operations during the 21-day lockdown, since most manufacture staples and essential products, capacity utilisation remained poor, owing to the restricted movement of raw materials, finished goods, and labour.
The BSE Realty index fell 11 per cent over the last month and eight per cent over the week as real estate companies reported margin pressures in the September quarter.
Consumption of cement, steel, and bitumen is to get a boost of Rs 42,000 crore (Rs 420 billion), as the National Highways Authority of India has announced to award 7,994 km of highway projects in the current financial year.
The steel plant will be closed down in 25 days unless an investor takes it over, operative executive director of the Bulgarian metallurgic enterprise Plamen Stoyanov told the Bulgarian media. Bulgaria's biggest steel plant has already shut down some of its production facilities, including two of its blast furnaces, and plans to stop operations completely by the end of this month.
The contract would come into effect in 2009, Tata Steel said.
The US Congressional committee, which is inquiring into the country's Food and Drug Administration's handling of drug-marketing approvals of India's leading drug-maker Ranbaxy, has extended its probe into similar permissions given to Iceland's Actavis.
When Hitesh Harisinghani and Jahnavi Patel hit the streets of Mumbai after Modi's demonitisation announcement, here's what they found.
The Bharatiya Janata Party-led state government is acquiring groundnut at Rs 4,500 per quintal; the market price is Rs 3,500 per quintal
With disposable incomes rising and more and more people aspiring to own cars, global auto majors want to grab a share of the market.
His innovation to churn out low-cost sanitary napkins is a double boon to poor women of rural India - they are hygienic and help them earn their living.
Fast moving consumer goods (FMCG) companies are changing the product formulation, including alternative raw materials, to make soaps, detergents and personal care products. The move is aimed at cutting costs by as much as 10 per cent and boosting margins.
Engineering is a diverse industry with a number of segments. A company from this sector can be a power equipment manufacturer (like transformers and boilers), execution specialist or a niche player (like providing environment friendly solutions).
Hinduja Group flagship company Ashok Leyland on Tuesday announced a price hike of its entire range of commercial vehicles by up to Rs 50,000 on account of rising input costs with immediate effect.
India's fight against the growing market share of manmade fibers is beginning to get global support, especially from the Cotton Council International (CCI).
Two major steel producers Tata Steel and SAIL, however, have maintained their prices according to their commitment to the government. But according to market sources, value-added products continued to remain out of the price control purview, resulting into frequent price hikes of products like blooms, power channels and other high-tensile steel products, which are import substitutes.
Sources said a meeting with industry representatives may be held at the Finance Ministry to discuss price-related issues of the petrochemicals sector and seek the industry's views before a policy decision is taken. While official sources were not available for comment, it is understood that the meeting will have representation from leading Indian petrochemical companies.
According to the data compiled by the international fund- tracking firm, EPFR Global, all Asia -- excluding Japan -- equity funds surrendered $365 million in early July although they remain committed to investing in India and Russia. At the country level, investors removed $424 million from China Equity Funds and $244 million from Brazil Equity Funds.
The government on Monday reduced basic customs duty on influenza vaccine and nine other specified life-saving drugs used for treating breast cancer, hepatitis-B, rheumatic arthritis, etc.
The models of the company include flagship sedan City, hatchback Jazz, premium sedan Civic and sports utility vehicle CR-V.
