BUSINESS
JSPL acquires Monnet Power’s power plant for Rs 410 crore
The plant was auctioned last month following a company law tribunal order.
BUSINESS
JSPL acquires Monnet Power’s power plant for Rs 410 crore
The plant was auctioned last month following a company law tribunal order
BUSINESS
Analysts largely neutral on Gland Pharma’s acquisition of Cenexi Group
Gland Pharma’s management expects to close the transaction by February/March 2023 and to fund the deal through internal accruals
MARKETS
Road ahead for D-Street: Nifty picks its growth drivers to scale new highs
Bajaj Finserv, Bharti Airtel, Axis Bank, Adani Enterprises and Tata Motors will see the biggest earnings growth among Nifty constituents in FY24
MARKETS
Export duty rollback — sentimentally positive but not a big driving factor: Brokerages
Most brokerages do not see the government move to cut export duty boosting domestic steel prices in a big way as they are already at a 15-20 percent premium to landed imports. Say broad-based policy stimulus in China would be the key determinant.
INDIA
India scraps export tax on low grade iron ore, some steel intermediates
In the notification, which takes effect on November 19, the government also removed the 15 percent export tax on some steel intermediates
BUSINESS
Vedanta’s potential exit from steel business: A change of strategy to curb debt?
A sale of Electrosteel will lower the company’s debt and provide it more muscle to aid the finances of its parent company
ANNOUNCEMENTS
LTIMindtree’s $5 billion revenue target too optimistic: Jefferies
Brokerages are awaiting clarity on the merged entity’s plans and strategies.
ANNOUNCEMENTS
Hindalco to plan new projects strictly in line with cash flows, won't borrow: MD Satish Pai
Satish Pai says that macroeconomic headwinds and the price of coal need to abate for its US and Indian businesses to breathe freely once again
BUSINESS
JSPL might not be able to reduce debt level in H2 of FY23: MD Bimlendra Jha
The company wants to completely meet its debt obligations and borrow only for future businesses
MCMINIS
What is driving the commodities rally?
ANNOUNCEMENTS
Hindalco drops over 4.3% intra-day, its steepest fall since 26 September
Hindalco ‘s subsidiary Novelis trims capex guidance and expects tough H2FY23
BUSINESS
Moody’s stands by Vedanta Resources' rating downgrade after latter terminates services
The negative outlook reflects the company’s persistently weak liquidity profile and our concerns over the elevated refinancing risk arising from holdco VRL's looming debt maturities, says the international rating agency.
BUSINESS
What’s next for cement sector after multi-year low margins in September quarter?
As construction resumes after the monsoon and input costs start cooling, the next two quarters are likely to be good for the sector.
BUSINESS
Huge dividend payout expectation lifts Vedanta to highest intra-day gain since mid-September
Vedanta's indebted London-based parent Vedanta Resources has terminated rating agency Moody’s services after its debt was downgraded deeper into junk territory. This fueled the expectation of a huge dividend payout by the Indian entity to fund parent's debt
BUSINESS
‘Deleveraging’ no longer the most important thing for Tata Steel: Koushik Chatterjee
Deleveraging will happen in the natural course, as soon as the company starts generating free cash flows in excess of what’s required, he said.
BUSINESS
Vedanta scales back FY23 capex guidance by 20%; expects lower cost of production in H2FY23
Vedanta trims aluminium and power division capex by 40 percent.
INTERVIEW
NHAI InvIT to increase fundraising in next round by February: Chairman
The money raised through this route will support the government’s plan to monetise assets and encourage retail investors to take part in building the nation’s infrastructure.
BUSINESS
JSW Steel sticks to sales, capex projections despite weak Q2
It’s on course to clock sales of 24 million tonnes, and will incur a capex of Rs 15,000 crore for the year.
BUSINESS
JSW Steel expects better H2FY23 after one of the weakest quarters in its history
The steelmaker expects to maintain its volume guidance of 24-25 million tonnes for the full FY and also hopes for better margin performance going ahead, said Joint Managing Director and Group CFO Seshagiri Rao
BUSINESS
Energy costs to come down In H2FY23; open to inorganic growth: UltraTech Cement CFO
Ultratech Cement reported an at least ten-quarter low EBITDA/tonne performance for the quarter ended September 30, 2022.
MCMINIS
Why cement prices will rise post festive season
ANNOUNCEMENTS
Expect better financial performance for H2: Shree Cement’s Chairman
We want to grow 10 million tonnes from acquisitions over the next five years. Because of the complexity of multiple operations, we chose the ex CEO of ACC and Ambuja Cements as our new MD designate.
ANNOUNCEMENTS
Shree Cement looking to hike cement prices after November 15: HM Bangur
To offset escalating costs, the company is expecting to undertake a price hike of Rs 15/bag for the remaining part of the financial year
