Ficci has demanded cuts in excise duties and interest rates to lift the manufacturing sector. It also calls for appropriate raw material policies.
UPL, the country's largest agrochemical company, had a weak July-September quarter (Q2), reporting a sharp fall in revenues across geographies. Overall, the revenues were down 19 per cent on the back of lower agrochemical prices and inventory destocking. While the overall volumes were down 7 per cent, prices fell by 15 per cent. Volume decline in the European market was on the back of high channel inventory and product bans while in India the fall by 27 per cent was on account of muted demand for segments such as cotton and pulses.
Taxi and bus fleet owners and contractors providing raw materials, electrical work and furniture in civil construction are likely to come under the presumptive income tax net from 2008-09.
"I believe England have the raw materials to build another very strong side. The area of concern for me is mental; they need toughening up," Hussain said in an interview for the February issue of The Wisden Cricketer magazine.
The inspection at Marion Biotech started at around 12 pm and continued for over 10 hours during which six more samples of the syrup were taken, they said.
On an average most commodities are up between 20-30 per cent compared to a year ago levels.
The Indian steelmaker, which bought the Mozambique project with Australia-listed Riversdale Mining, sees the mine as essential in ensuring it has a sustainable supply of coking coal.
Under pressure from increasing input costs and shrinking margins, leading two wheeler manufacturer Hero Honda on Monday announced an increase in prices of its motorcycles by Rs 500 to Rs 2000 across various models.
State-owned oil firms may hike petrol price by about Rs 0.50 per litre from June 16 as last month's steep increase in rates is not enough to cover the cost of raw material (crude oil).
The 204 million-tonne industry is under pressure due to excess capacities coming onstream across the country. Imported coal prices, which touched $200 a tonne in the first half of the current financial year, have now come down drastically.
The manufacturing sector (excluding petroleum sector) would report a 24.3 per cent PAT growth mainly on account of low raw material prices and soft interest rates, CMIE said, adding PAT of the financial and non-financial services would rise by 32.2 per cent and 20.4 per cent, respectively.
At least three steel companies-JSW Steel, Jindal Stainless and Bhushan Steel-have decided to wait for the financial storm to pass before they take up their expansion plans. Ministry may not achieve target to cross 100 MT output by 2012.
Sugar firms see no problem in RIL foray in ethanol production.
The added burden on manufacturers for recycling e-waste is expected to impact their margins, which may further lead them towards hiking prices of other items.
Two armed ultras stormed the Topadihi railway station and asked the assistant station manager not to allow any goods train pass through the route
Maruti Suzuki's contribution to the sales revenue of its Japanese parent, Suzuki Motor Corporation (SMC), has touched the highest-ever figure during April-December of FY23. According to SMC's results declared on Tuesday, Maruti's share in its global revenues jumped from 33.42 per cent in April-December of FY22 to 40.93 per cent in the corresponding period of FY23.
The third-quarter financials didn't excite market watchers. But equity investors can still make money if they invest in the right stocks.
The below-average monsoon this year and the subsequent shortfall in the production of sugarcane in India will see the prices of Indian Made Foreign Liquor increase by 10-15 per cent in the next financial year, say industry experts.
Tax concessions in Uttarakhand are encouraging auto majors from Hero Honda to Tata Motors to shift a larger part of their manufacturing to the state to counter rising raw material costs and increase their flexibility to offer consumers cheaper models in a competitive market.
From a single private firm with a Rs 1,000-crore (Rs 10 billion) net profit, there are 28 such companies now.
India, the US and 12 other members of the IPEF grouping have signed a supply chain resilience agreement that would help mitigate risks of economic disruptions from supply chain shocks and improve crisis coordination. The agreement would help member countries like India to reduce their dependence on China and provide timely information to the IPEF member countries about potential supply disruptions. The COVID outbreak severely disrupted the global supply chain, as most countries were dependent on China for various products like pharma raw materials.
A sample of 1,248 companies saw net sales rise a whopping 39 per cent in the quarter ended June 2008 over that a year ago, as compared to 28 per cent in the quarter ending March 2008 and 16 per cent for the quarter ending December 2007.
Ratan Tata, chairman of Tata Motors said that rising costs of fuel and raw materials are the biggest worry for the automobile industry. Tata also warned of tough times for the company as its market share slid in the last financial year.
Early onset of monsoon has raised the hopes of rainwear manufacturers. Wholesalers have already started stocking and they expect good demand despite rising prices of rainwear products.
Cheap imports from China threaten to punch a huge hole in the business of local automobile component makers.
The $66 million (Rs 272.8 crore) Leiner Health Products is likely to sue DRL for the early divorce (the agreement has lasted only four years) from the alliance.
Developers are battling sales slowdown due to rising interest rates and tighter lending norms, spurt in input costs and a lending squeeze from banks hurts.
Large steel producers had reduced prices up to Rs 4,000 per tonne on request of Prime Minister Manmohan Singh on May 7. They had also agreed to hold the price line for the next three months. The three-month price moratorium expires in August.
The government's decision to lean on primary steel producers to fight inflation while doing precious little to curb iron ore prices has produced an anomalous situation. Earlier this month steel producers agreed to hold prices for three months and roll back some of the recent price rises. But no such exercise has been undertaken for iron ore, the key raw material needed to produce steel and accounting for as much as 35 per cent of steel manufacturers' costs.
With cement companies refusing to cut prices, the government on Tuesday abolished all duties on import of portland cement
This financial year will not be easy, mainly due to lack of pricing opportunities. Still, if volume growth remains robust, profit expansion will be good, says Dabur India CEO Sunil Duggal.
The only element of demand for gold likely to be affected by a recession is investment demand, "but that in turn will depend on the 'type' of recession,". Recessions can be bad for commodity prices, as consumer and business confidence falls, demand for goods and services is cut, weighing on demand for raw materials and depressing prices.
Shaheen International, a Pakistani business group, is exploring the possibility of forming a joint venture with Reliance Industries Ltd to set up a petrochemical complex in Pakistan.
Coal consumers across the country sourcing coal from Coal India Limited through the e-auction mode are sore over the recent rise in earnest money deposit for procurement of coal and also the bulk transport of e-auction coal through the road route which has pushed up the cost of the raw material.
Auto companies are now grappling with a slowdown in sales, triggered by pent up demand due to the COVID-led lockdown easing a bit and supply-side issues for raw material.
