The global semiconductor shortage is turning into a headache for automotive (auto) and appliance manufacturers. But it is proving to be a boon for equity investors. Semiconductor stocks are among the best performers this year. The PHLX Semiconductor Index has gained more than 35 per cent year-to-date.
Thermax reported 13 per cent Y-o-Y revenue growth with operating profit margin decline in Q1FY25. It took a hit of Rs 70 crore on specific projects. The company enjoys a strong order pipeline across sectors like power, steel, refining and petrochemicals.
As India's electricity demand soars, the power ministry on Tuesday reviewed the power supply situation to ensure 'zero load shedding' during the summer months. The ministry has drafted plans ranging from delaying planned maintenance of thermal power stations to mandatory operations of imported coal-based and gas-based stations till September. In a series of meetings with industry stakeholders, Union Minister for Power, New, and Renewable Energy R K Singh emphasised the importance of adequate planning to avoid situations where one state has surplus power while another state faces shortages.
Leading carmakers Maruti Suzuki and Hyundai witnessed a double-digit drop in sales in October on account of the global semiconductor shortage impacting production. Kia India, Honda Cars and MG Motor also saw a fall in dispatches last month as compared with October 2020. However, companies like Tata Motors, Mahindra, Nissan and Skoda managed to post positive numbers last month despite the supply chain challenges.
The Delhi high court said on Saturday that if any official at the central, state or local administration was obstructing in the picking up or supply of oxygen, then it would 'hang' that person.
Passenger vehicle retail sales in the country rose 40 per cent in June indicating an improvement in semiconductor supplies even as demand, especially for SUVs, remained robust, auto dealer' body FADA said on Tuesday. According to the Federation of Automobile Dealers Associations (FADA), passenger vehicle (PV) registrations rose to 2,60,683 units last month, as compared to 1,85,998 units in June 2021, registering an increase of 40 per cent. "The PV segment continued to see robust growth. An increase in dispatches clearly shows that semiconductor availability is now getting easier," FADA president Vinkesh Gulati said in a statement.
The chief minister raised these issues when Modi called him up to discuss the state's COVID-19 situation and the measures being taken to tackle the crisis, according to an official statement issued here.
Is it a case of poor targeting of a welfare scheme, or is it a reflection of the government's desire to expand the scope of this benefit to secure greater electoral dividends? asks A K Bhattacharya.
Tata Motors recently cut the sales forecast of its luxury car brand, JLR, due to chip shortages, scaling down its production numbers from the earlier 120,000 units to 60,000-65,000 units by September, and leading to an almost 10 per cent fall in the company's stock. In May this year, Bosch India, too, had stated that chip shortfalls would impact its production, as supply chains were getting disrupted.
Nearly 200 of the 789 aircraft of Indian carriers are expected to be grounded by the end of March due to ongoing supply chain issues, according to the report released on Monday by CAPA India. At present, 161-166 aircraft are grounded. "More aircraft will be on the ground than expected due to serious supply chain issues, which were supposed to improve but actually deteriorated," it noted.
Passenger Vehicle makers are likely to see their cumulative earnings at an operating level erode by Rs 1,800-2,000 crore in the year ending March 2022 on account of the shortage of semiconductors, rating agency Icra said at a webinar on Wednesday. The industry, it pointed out, is estimated to lose production of 500,000 units at the end of FY22 due to the chronovc shortage the chip, which is critical in safety, entertainment and the various other smart features of a car. "In absence of the chip crisis, the industry volumes are likely to have exceeded the all-time peak annual volumes." Icra has pared its growth estimates for the PV market from the earlier 10-14 per cent to 8-11 per cent now in FY22.
Chief Minister Siddaramaiah after a Cabinet meeting here on Wednesday said that the government has decided to go for open market tender to procure rice, whose process will start from Thursday.
Farmers' organisations are demanding a hike of Rs 5 per litre in milk procurement price and have decided to suspend the supply to Mumbai and Pune from Monday.
Sonia called for cancelling all public gatherings and poll rallies in view of the rising number of coronavirus cases.
Coal shortage at thermal power plants is lingering on, with 59 non-pit head projects having the dry fuel stocks for less than four days as on Wednesday, according to official data. The number of such projects having less than four days of coal (supercritical stock) stood at 61 on October 19, the latest data from the Central Electricity Authority (CEA) showed. The count of the plants having supercritical stocks was at 64 on October 13.
Some states have flagged the shortage of vaccines and expressed their inability to start vaccination of people above 18 years from Saturday
'The state government is putting Maharashtrians in danger by letting people escape institutional quarantine mandate for the sake of their personal vasuli'
Vardhan said that 9.1 crore vaccine doses have been utilised, while 2.4 crore are in stock and 1.9 crore vaccines are in the pipeline, indicating there are sufficient doses available for all states.
About 2,000 petrol pumps, mostly in western and northern India, have run out of fuel stocks as the strike by some truckers' associations entered the second day on Tuesday.
The Supreme Court on Thursday directed the Himachal Pradesh government to release 137 cusecs of surplus water available with it for Delhi, which is grappling with water crisis.
WHO has urged people at risk to keep up with their vaccinations with boosters.
Karnataka Medical Education Minister K Sudhakar tweeted that as soon as he came to know about the shortage of oxygen at the KIMS, a private hospital, directions were issued to shift patients by ambulance to Victoria, Bowring and Rajiv Gandhi hospitals in the city.
Power and Coal Minister Piyush Goyal warned that it would take years to alleviate coal supply shortages, which have reduced stocks at thermal power stations to their lowest since a huge blackout in 2012 cut off 620 million people.
'There is no shortage of any APIs (active pharmaceutical ingredients) in the country'
He also said that there were around 620 cases of black fungus or mucormycosis in the city, but there is a shortage of Amphotericin-B injections used in its treatment.
India may have to lean more on West Asian nations for supplies of liquefied petroleum gas (LPG), a cooking fuel, in the coming years after Indian state-run refiners drew up big plans to diversify into producing more profitable petrochemicals. This shift leads to reduced LPG output, Indian refining executives said. The mantra for state-run oil companies, from Indian Oil Corporation (IndianOil) to liquefied natural gas (LNG) importer Petronet LNG, which are looking to diversify their businesses from lower-margin fuels, has been value-added petrochemicals.
Goyal added the central government did mapping in a meeting with governments of 12 states and union territories most affected by COVID-19 and 6,177 metric tonnes of oxygen will be given to these states.
For automakers, the festive season is about raking it in through ramped up sales and attractive consumer offers. However, despite the robust demand, what may spoil the party this year is a global shortage of semiconductors.
UltraTech Cement's announcement that it would snap up a controlling stake in India Cements may only be a sign of more to come. In the wake of one of the country's most expensive deals in recent times, cement majors may slug it out to add smaller firms from the region to their portfolio. UltraTech's buy is the latest in the four deals the southern market has seen in less than a year, with Adani Cement being the other buyer.
The Tata group is looking to make a foray into semiconductor (also known as chips) manufacturing and it has set up a business to seize the opportunity, Chairman N Chandrasekaran said on Monday. "At the Tata group, we have already pivoted into a number of new businesses like electronics manufacturing, 5G network equipment as well as semiconductors, in all probability," he said while speaking at the annual general meeting of the IMC Chamber of Commerce and Industry. Chandrasekaran said global supply chains, currently heavily dependent on China, would see a big change in a post-pandemic world with businesses shifting their reliance to other countries.
Will syringe shortage puncture India's Covid vaccine plans?
The health ministry further informed that in addition to 162 plants already sanctioned, the states have requested Centre for more than 100 such additional plants which are also being sanctioned.
Amid Israel's retaliation against the Hamas' surprise attack on October 7, hospitals in the Gaza Strip are nearing collapse without electricity and basic supplies and doctors have to decide on which patients get ventilators, who gets any medical treatment at all or who gets resuscitated, The New York Times reported.
When the landslide hit, Sruthi's house was washed away, along with its inhabitants. She lost her entire family and some relatives. All she had left for a close confidante was her fiance Jenson. Days after the landslide and the loss of her family, Jenson died in a road accident that also left Sruthi with serious injuries. News of the accident and Sruthi's backdrop as the lone surviving member of a family wiped out in the July landslide, was picked up by the media, and people rushed to help.
Gorbachev was the last leader of the Union of Soviet Socialist Republics (USSR).
Many inoculation centres in Maharashtra are being shut due to the shortage of coronavirus vaccine, Health Minister Rajesh Tope said on Wednesday, adding the state now has 14 lakh doses which would last just three days.
'2019 was fought on delivery. But in 2024, you can see the before and after effects.'
With mercury soaring in Maharashtra and the onset of monsoon still a fortnight away, as many as 1,998 villages and 2,607 hamlets are reeling under acute water shortage where about 2,358 tankers are being used to supply drinking water.
Earlier, the district administration had issued an order that hospitals should not be asking patient's relatives to arrange the Remdesivir injection from outside, and instead, they should themselves procure it from chemists based on their requirement and use it for treatment.
The Delhi high court had directed the Centre on Tuesday to show cause as to why contempt should not be initiated against it for failing to comply with its order.
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