ADDITIONAL DEPRECIATION
VRL Logistics outlook: Should you buy this stock? Know why analysts are bullish on this stock
VRL Logistics: Analysts are confident about VRL Logistics due to its aggressive expansion and investment plans, and the promising outlook of the logistics industry. The buoyant prospects of logistics industry will continue to support the company’s growth. The company has multiple differentiators to sustain its growth momentum. An Emkay May 2024 report states that its business model will help reap benefits of operating leverage due to owned assets and branch expansion plans.
UltraTech to retain edge over competition amid cost efficiency, capacity addition
During an earnings call after the quarterly result announcement, the company's management stated that it would reduce the cost of production per tonne by Rs200-300 in the next three years by focussing on a series of initiatives such as increasing investments in green power, reducing lead distance by improving distribution channel, and improving clinker-cement conversion.
Indian Oil Q4 Net Dives 52% to Rs 4,838 cr
Indian Oil's Q4 profit declines sharply to ₹4,838 crore, with revenue at ₹2,19,876 crore. Declares a final dividend of ₹7 per share. Operating margin reduces to 3.05%. LPG cylinders sale loss affects overall profit.
Satya Nadella interview; Zomato's restaurant onboarding push
Artificial Intelligence will not only help solve India’s unique structural challenges and help increase productivity and societal benefits, but those solutions for India may turn out to be relevant for the rest of the world as well, Nadella told ET.
Varun Beverages Q4 Results: Pepsi India bottler's Q4 profit surges 77% on upbeat demand
Pepsi India bottler Varun Beverages reported a nearly 77% surge in its quarterly profit on Monday, as it saw double-digit volume growth across domestic and international markets even as higher costs of essentials weighed on consumers.
Puneet Dalmia to take on additional role of CEO and MD at operating company Dalmia (Cement) Bharat
Puneet Dalmia, the managing director and chief executive officer of Dalmia Bharat Limited, will also take on the additional role of CEO and MD of Dalmia (Cement) Bharat Limited. Dalmia Bharat Limited reported its quarterly results for the December quarter of financial year 2023-24, achieving sales of Rs. 3600 crore and EBITDA of Rs. 775 crore. The company's cement business saw a 6.8% YoY growth in sales volumes, and its cement capacity increased to 44.6 million tonnes. Dalmia Bharat's margins have improved, with net debt to EBITDA remaining at 0.16x.
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Focus on subscriber additions could be hurting Jio's ARPU
Jio's ARPU remained flat sequentially at ₹181.7 in the quarter ended December 2023. The telco added 11.2 million users in the quarter, largely driven by strong adoption of the sub-₹1,000 JioBharat feature phone.
Electric vehicles are cheaper than ever. That’s bad for EV owners
Tesla cuts Model 3 prices in China, making them more affordable; Hertz sells part of its EV fleet and buys gasoline-powered vehicles instead; falling EV costs benefit consumers but hurt fleet owners; Hertz's decision to buy 100,000 Model 3s looks foolish; depreciation risk for rental companies; EV price parity with gasoline cars causes depreciation headache; consumer demand for EVs may saturate as production ramps up; ideal time to buy for rental companies and individual car owners.
Chennai flood sweeps away cars: Here's how to insure your vehicle against flood damage
Flood-related damages can encompass engine, gearbox, electric and electronic, and upholstery damage. Repairing or replacing a water-damaged engine alone can cost between Rs 75,000 to Rs 15 lakh.
Independence Day: How the rupee went from less than 4 a dollar in 1947 to 83 today
The Indian rupee opened on Monday below the 83-mark against the US dollar, the lowest for the currency since October 2022 when it dipped to a historical low of 83.26. The depreciation can be attributed to a positive dollar and a weak tone in domestic markets. India has transformed from a food-deficit country importing grains to becoming an influential player in the global financial landscape, with the rupee becoming one of the top 15 most-traded currencies globally.
Indus Towers rules out dividend payment over Vodafone Idea dues issue
At its fiscal first quarter earnings call on Friday, Indus' top management also said the tower company is constantly pushing its key customer, Vi, to clear its massive past dues, estimated at ₹9,500 crore.
Debt-to-earnings ratio of steel producers to remain below 2 times in FY24: Crisil Ratings
Research firm Crisil Ratings on Monday said it expects the net debt-to-EBITDA ratio of domestic steel manufacturers to stay below the level of 2 times in the financial year 2023-24. Healthy demand growth, coupled with high operating rates, is driving the need to add capacity by the players.
AMNS India to invest $7.4 billion on capacity expansion, value addition
ArcelorMittal and Nippon Steel's joint venture, AMNS India, will invest $7.4bn in capacity expansion and increased value-added capabilities. The investment includes increasing the Hazira-based plant's upstream capacity to 15 million tonnes by 2026, alongside increased downstream facilities costing $1bn to meet rising demand from automobiles. The 9 million-tonne-per-year capacity plant will also establish slurry pipelines to link its mines with its beneficiation plants. AMNS India's Q1 sales increased by nearly 6% while crude steel production rose by 9%, and earning before interest, tax, depreciation and amortisation more than doubled year on year.
Bhopal gas tragedy: Supreme Court dismisses Centre's plea seeking additional compensation
The Supreme Court on Tuesday dismissed Centre's plea seeking additional compensation of Rs 7,400 crore from the successor firms of Union Carbide Corporation (UCC) for the victims of 1984 Bhopal gas tragedy.
Bhopal gas tragedy: Depreciation of rupee can't be ground for "top-up" of settlement amount, UCC successor firms to SC
Senior advocate Harish Salve, appearing for the respondents, told the bench, also comprising Justices Sanjiv Khanna, Abhay S Oka, Vikram Nath and JK Maheshwari, the Government of India never suggested at the time of the settlement that it was inadequate.
Mobile phone tariff hikes likely mid-2023: Analysts
Considering the telcos have committed large annual payouts on spectrum cost, and are investing in their 5G network rollout, they will need to ensure growth in ARPU, said analysts. While 5G uptake is expected to improve ARPU, it will take a few quarters if not more, and in the meantime, tariff hikes are the more viable option.
Appliances, consumer electronics industry aim double-digit growth, production capacity expansion in 2023
Learning the hard way in the wake of the global supply chain disruptions caused by the coronavirus pandemic and prolonged lockdown in China, leading companies in the sector are focusing on enhancing production capacity as well as domestic supply chain to reduce dependence on imported components.
Missed inflation target, digital currency pilot mark RBI's 2022 map; growth vector to dominate ahead
The Reserve Bank of India failed to deliver on its contracted inflation target for the first time, started fiat digital currency pilot and finally saw its efforts to improve bank balance sheets see fruition in 2022, making it a mixed year for the central bank.
Exporters seek fewer loans on signs of slowing global trade
Exports contracted in October after a gap of 19 months. Merchandise exports slipped below the level of $30 billion for the first time in the last 20 months. This marked a contraction of 16% on a sequential basis and a hefty 17% on an annualised basis.
'Earnings recovery for domestic airlines set to be slow-paced due to elevated ATF prices'
The airlines' capacity deployment in November 2022 was slightly higher (less than nearly 1 per cent) than in November 2021. However, it was lower by about 12 per cent than the pre-Covid levels.
From Rupee depreciation and GST to India’s outward remittances - a look at top headlines dominating the Indian import sector
A look at some of the top headlines dominating global and domestic markets that could potentially impact the Indian import sector
About Rs 400 cr tax deposited by filing updated ITRs so far
New form ITR-U was made available in May this year for taxpayers to update their income tax return (ITRs) with any income or earnings that may have been skipped in the original filings for fiscal years starting 2019-20 (the assessment year 2020-21).
Fitch affirms Bharti Airtel's 'BBB-' rating, reflecting solid balance sheet
Fitch Rating has affirmed the outlook on Bharti Airtel's long-term foreign-currency issuer default rating (IDR) and senior unsecured as stable, affirming its rating at 'BBB-'.
Domestic airline industry could report Rs 15,000-17,000 crore loss this fiscal, says ICRA report
Credit rating agency ICRA, in a new report, pointed to an 8% dip in traffic compared to pre-pandemic levels and the elevated prices of aviation turbine fuel (ATF) as the major threats to earnings and the liquidity profile of airlines in the near-to-medium term.
Diamond companies, banks in a tussle as rupee dips
Banks fix the overall export credit in rupees. However, with a depreciating currency eating into the quantum of loans sanctioned by local banks, diamond firms are left with less and less money for import of rough stones which are cut in India. More than 90% of the world's diamonds are cut and polished in India before the polished ones are shipped to world's leading markets like the US and China.
Why rate hike by RBI may not compromise growth
In my view, RBI has front-loaded the increase to aggressively target inflation and manage the currency. With this increase, the rates are back around the pre-pandemic levels. Post this announcement, as expected, the currency reacted positively. Surely, some of the RBI objectives are fulfilled.
Positive impact likely on IT companies’ margins as rupee depreciates against US dollar
Operating margins at IT services providers have been under pressure due to the impact of wage hikes and other costs in the April-June quarter.
Runaway depreciation of rupee unlikely, USD/INR to trade in 78-81 range
Our trade deficit this fiscal is tracking 8 per cent of GDP on account of higher crude prices (India imports 85 per cent of its crude oil requirement). Our trade deficit is usually around 5-5.5 per cent of GDP.
Rupee depreciation, reforms, returns pull NRIs towards Indian real estate
The rising interest from NRI homebuyers is being witnessed across segments, from mid-income projects to premium and luxury segments and plotted developments.
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