The minister said to protect the interest of domestic steel producers appropriate fiscal measures to curb the threat of cheap steel import and dumping should be taken soon.
The study has been conducted by Ernst & Young on behalf of EEPC-India, the apex body of engineering goods exporters.
The demand for oil and raw materials from the world's fastest growing economies -- China and India -- is providing a counterbalance against the slowdown in the US and in turn will lead to continued surge in commodities prices and trading volumes globally, a latest report says. Upheaval in equity markets and the continuing credit crisis would ensure the steady stream of investment into commodity markets, as financial players are attracted by the higher returns.
Pantaloon Retail, the country's largest retailer, is looking at increasing the prices of its apparel products up to 18 per cent, to improve margins in the coming quarters, said a top group executive.
The downslide on bourses on wiped off over Rs 1,22,000 crore from the market wealth, including that of company promoters and public investors, as huge losses were seen in blue-chip stocks like RIL, ITC and TCS.
Exports of 13 APIs - including paracetamol, tinidazole, metronidazole, vitamin B1, vitamin B6, vitamin B12, acyclovir, progesterone - along with formulations made from these APIs, would be restricted.
The sudden surge in raw material prices has forced steel companies abroad to raise prices considerably but Indian counterparts have been unable to do so at such a pace. This has eroded the premium that Indian steel makers enjoyed and they're actually selling at a discount to international prices.
NPPA will begin analysing pricing trends of 74 bulk drugs that come under the government-notified price-controlled list every quarter.
ITC's results for the January-March quarter (Q4) were strong, with robust growth in the fast-moving consumer goods (FMCG) segment and a good performance in hospitality. The tobacco division's performance was on expected lines, with double-digit volume growth, helped by reclaiming of market share from the smuggled trade. There was 60 per cent growth in non-cigarette earnings before interest and tax (Ebit), despite a relatively weak performance in paperboards.
Former Citibanker and MphasiS founder wants to provide affordable housing to low-income buyers. What's his business model?
As many as 2,431 firms in manufacturing and services sectors post their biggest-ever net profit decline of 42.45 per cent.
Central Excise - Kerosene used for extraction of paraffin retrospective exemption to returned kerosene no unjust enrichment refund entitled : Madras High Court
Large quantities of fertilizers are smuggled through Nepal to China, where they are used as raw material for making explosives used to blast rocks for laying roads, a top secret intelligence report to the prime minister has revealed. Farmers are reeling under acute shortage of fertilisers because of this, the report said, estimating the illegal export from ten border districts of Bihar and Uttar Pradesh to the tune of Rs 1500 crores.
Enthused by rising potato prices after a prolonged slump, Pradeep Sharma was planning to sow the crop on his 15-acre farm near Agra slightly earlier than usual. The delayed departure of the southwest monsoon also prompted his decision, since the good soil moisture would have saved at least one initial irrigation. But the acute shortage of diammonium phosphate (DAP), a crucial nutrient ahead of the sowing season for potatoes, nipped those hopes in the bud. DAP is the second-most used fertiliser in the country after urea.
The government has no immediate plans to raise petrol and diesel prices even though raw material costs have surged to their highest level this year, Petroleum Secretary R S Pandey said on Thursday.
Of the top-10 global biotech companies, the biggest two -- Amgen and Biogen -- have already set up wholly owned subsidiaries in the country.
A global steel producer is putting up 14-million-tonne capacity, Essar Steel aims to achieve a global capacity of 20-25 mt.
Indian Oil Corporation (IOC), Bharat Petroleum and Hindustan Petroleum may post a combined loss of Rs 10,700 crore in June quarter on selling petrol and diesel at rates below cost, a report said on Monday. While the raw material (crude oil) prices soared in April-June, petrol and diesel prices were not revised, leading to marketing losses which offset strong refining margins, ICICI Securities said in the report. The three state-owned oil marketing companies -- IOC, BPCL and HPCL -- control 90 per cent of the retail petrol and diesel sales in the country.
State-owned NTPC is likely to pick up stake in two coal mines in Indonesia, a move that would help the company secure its raw material requirement.
The stock of two wheeler maker Eicher Motors was the highest gainer among BSE 100 stocks, rising 6.6 per cent in trade on Friday. The gains came on the back of better than expected performance in the March quarter of the 2022-23 financial year (Q4FY23) and earnings upgrades by brokerages. Standalone revenues (Royal Enfield) were up 19.9 per cent year-on-year (YoY), led by an 18 per cent growth in volumes and a marginal uptick in realisations.
'From data on enquiries, we can build what we call a data lake or a data warehouse where data is classified into various cohorts and then we use AI and ML tools to predict demand down the line.'
A large number of items including petrol, diesel, gold, silver, cigarettes, fully-imported cars and split air conditioners will become more expensive due to hike in taxes, as proposed by Finance Minister Nirmala Sitharaman in the Union Budget for 2019-20.
After signing on Tata Steel in 2007 and Brazil's CSN in 2009, Riversdale has roped in China's Wuhan Iron and Steel Corporation (Wisco).
India is the highest consumer of heroin in South Asia and also appears to be producing its own opium poppy, which is the raw material for heroin, according to the latest report of the United Nations Office on Drugs and Crime (UNODC).
Industrial metals (ferrous and non-ferrous) suffered great volatility once the Ukraine War began in February 2022. First, there was a sharp price rise due to fears of supply disruption, followed by weak global demand. China's weakness and rolling lockdowns have hit production and demand.
Customs collections are six per cent higher during April-June this year over the previous quarter, mainly on account of higher imports of raw materials and capital goods, Central Board of Excise and Customs chairman P C Jha told PTI. Stating that collections are higher on account of improved imports of raw materials and capital goods, he said, this certainly would lead to improvement in manufacturing sector, though the results would be seen 2-3 months later.
Tyre companies are stepping up on exports to offset declining volumes from domestic OEMs.
How India's curry powder major Eastern Group has used state of the art technology to emerge as the largest producer of the various varieties of spice powders.
An interview with Jaykrishna D Pathak, president of the Bombay Yarn Merchants Association & Exchange.
Exporters say their capacity utilisation has reached almost 70 per cent and that big firms have brought it up to as high as 85 per cent.
The numbers suggest the earnings performance of the broad market has been worse than that of the narrow market. For a sample of nearly 1,000 companies, excluding banks and financial services, net profits for the March 2009 quarter are down a very sharp 20 per cent year-on-year. That's not surprising because operating profit margins have come off by nearly 200 basis points, indicating that India Inc's problems have more to do with costs because the top line has held up well.
The Reserve Bank of India on Monday said that despite an improvement in the operating environment, performance of the manufacturing sector is expected to be lower in the April-June 2008 quarter (Q1) compared with that in the same period of 2007.
The Central Public Works Department, responsible for awarding these projects, which include construction of stadiums, a media centre and a hostel, among others, has failed to get contractors for these projects due to the government's inability to address their concerns over the unprecedented rise in prices of key raw materials.
The increase in prices by the country's largest steel producer is effective from April 1.
Tata Steel's greenfield projects -- in Orissa, Chhattisgarh and Jharkhand -- were significant for Corus, which incurred high cost on raw materials, said sources close to Tata Steel.
Indian industry will have to deal with high raw material prices, and user industries will see their costs rising though with a lag in some cases.
All car makers passed on the two per cent hike in excise duty to consumers soon after the Budget.
State-owned oil companies are all set to hike petrol prices by around Rs 3 per litre which will be effective from midnight on Friday.
Reserve Bank of India Governor Shaktikanta Das on Monday stressed on achieving 100 per cent self-sufficiency in banknote manufacturing in the near future. He was speaking after dedicating Varnika, the ink manufacturing unit of Bharatiya Reserve Bank Note Mudran Private Limited (BRBNMPL), to the nation in Mysuru. BRBNMPL, a wholly-owned subsidiary of the RBI, has set up Varnika with an annual ink manufacturing capacity of 1,500 MT to enhance the security of banknotes.
Classic motorbike maker Royal Enfield on Thursday said it will raise prices of all its models by Rs 2,200 due to rise in input costs.
