Petrol price was freed from government control in June 2010 but public sector companies continue to informally consult their parent Oil Ministry before taking a decision.
India enjoys unique advantages in having a large pool of English-speaking professionals with degrees in engineering, science or mathematics, who are capable and flexible to learn new skills fast given the right opportunity and reward structure.
Tata Steel plans to invest nearly Rs. 600 crores on limestone deposits in Oman.
The stock has gained over 10 per cent in the last month but it could still have an upside, with valuations between Rs 5,200 and Rs 5,700 from several analysts and strong 'buy' consensus.
The New Year will begin on a costly note for car buyers with major players, including Maruti Suzuki, Hyundai Motors and General Motors, planning to increase prices of the vehicles by as much as Rs 12,000.
Tata Steel has built an iron ore chest of nearly 600 million tonnes (mt) and will look for more as it prepares for life beyond 2030 when its legacy captive mines come up for auction. The lease for four of its existing iron ore mines -- Joda East, Noamundi, Katamati, and Khondbond -- that feed the domestic operation with low-cost iron ore is going to expire in 2030, following changes in mining regulations. The year will also coincide with Tata Steel's ambitious target of doubling steelmaking capacity in India to 40 mt, increasing the need for iron ore. The company is pushing the pedal to ensure that it has enough resources to meet enhanced needs.
Demand for steel and its prices have declined of late due to the global economic downturn. Globally, steel prices have almost halved from the peak of $1,200 per tonne earlier this year.
The farmers' agitation against new agri laws will lead to economic loss of over Rs 70,000 crore in the December quarter owing to supply chain disruptions, particularly in Punjab, Haryana and border areas of Delhi, the PHD Chamber of Commerce and Industry said on Thursday. The chamber's president Sanjay Aggarwal said "the 36 days farm agitation so far will have more than Rs 70,000 crore economic loss in the Q3 FY 2020-21 due to...disruption in supply chains and day-to-day economic activities particularly in the progressive states of Punjab and Haryana and border areas of national capital Delhi."
The average price of Indian basket of crude oil during 2007-08 (upto August) has increased to $68.34 per barrel as compared to 62.46 dollars a barrel during 2006-07.
Cement companies witnessed speculative support from investors through FY23 amid hopes of a rebound. After capex announcements in the FY24 Budget, there was further interest due to expectations that government expenditure would boost earnings, besides a generic macro-recovery. Cement earnings were under pressure in FY22 and FY23 due to high raw material and fuel costs; muted demand prevented them passing on the higher cost.
Leather exporters have chalked out plans for setting up five special economic zones for giving a much-needed boost to the sector by availing tax incentives offered under the SEZ Act.
A sharp hike in global commodity prices meant that India Inc's raw material costs rose 38 per cent and, since they constitute 41 per cent of sales revenues, this lowered profits growth to 35 per cent (from 62 per cent in Q3).
Government's focus on infrastructure is the biggest positive for the Indian economy, followed by the improvement in tax collections and good consumption recovery.
Computers, mobile phones, tractors and gas stoves will become cheaper with the lowering of duties proposed in the Union Budget 2004-05 while imitation jewellery, steel, cakes and pastries and scented supari will become costlier.
Cement companies, so far defiant on cutting prices, could soon be trapped in their own net with their huge investment plans set to result in oversupply by next fiscal
Passenger vehicle wholesales in India witnessed a decline of 41 per cent year-on year in September as automobile manufacturers struggled to produce adequate units owing to semiconductor shortage, auto industry body SIAM said on Thursday. Passenger vehicle sales last month stood at 1,60,070 units as compared with 2,72,027 units in the year-ago period. As per the latest data by Society of Indian Automobile Manufacturers (SIAM), two-wheeler dispatches to dealers also witnessed a dip of 17 per cent at 15,28,472 units, compared to 18,49,546 in September 2020.
The finance ministry has decided to take stringent measures against pan masala and gutka (chewing tobacco) units indulging in clandestine excise duty evasion estimated at about Rs 1,800 crore (Rs 18 billion) annually across the country.
'Just because of my background and poor academic qualifications, most people disbelieve what I have done.'
Faced with rising input costs and increasing competition, Steel Authority of India Ltd has embarked on a Rs 400 crore (Rs 4 billion) cost-reduction exercise in the current fiscal in areas of raw material usage, energy and refractory consumption.
The government on Wednesday said Indian drug makers Ranbaxy and Cipla have approached it for assistance in manufacturing Tamiflu to fight bird flu
Maruti Suzuki India on Thursday said it is likely to raise in the next few weeks, the price of its entry level sedan Swift DZire to offset high input costs.Based on the Swift platform, Maruti has priced this entry level Sedan in Mumbai from Rs 4.70 lakh for petrol and at Rs 5.60 lakh for diesel (ex-showroom).
Excise duty relief brought in by the Budget may wither away on input cost pressure for cars in India. In light of these details, Indian car makers are contemplating hiking car prices, although none of them has confirmed the exact hike. Top executives from the auto industry have said the hike could be around 3-5 per cent. Most of the car manufacturers had already slashed prices (on small cars) in the beginning of March following the Budget announcement of a cut in excise duty.
Many imported things became costlier as Finance Minister Arun Jaitley on Thursday hiked customs duties on these products in the Union Budget 2018-19.
Security of supply of raw materials is thus an important issue, said Jairam Ramesh, minister of State of Commerce. India now imports close to $8 billion of rough diamonds.
The argument about inverted import duty structures is just a red herring.
Unlike the finance ministry which takes a larger view, the commerce ministry only looks at exporters' interests.
'Investors should look to incrementally allocate towards equity from a medium-to-long term horizon.'
With schools closing down, many girls and their female family members in rural and urban areas now don't have access to sanitary pads.
The WTO's quarterly outlook indicator, comprising seven trade parameters, stood at 96.3, the lowest since March 2010 and down from 98.6 in November. Exports from India would be hit if there is a slowdown in world trade.
