BUSINESS
Vedanta in a more comfortable position to manage debt, says chairman Anil Aggarwal
The company has raised $1.3 billion via loans and is also betting on dividends, royalty and cash raised from the sale of non-core assets to repay lenders.
BUSINESS
MC Exclusive | No child's play, but India need to set up semiconductor capacity: Vedanta Chairman
India needs semiconductor capacity to compete with the first world, Agarwal said.
BUSINESS
Vedanta’s oil unit to invest $4 billion to boost exploration, says Chairman Anil Agarwal
Talking on the sidelines of India Energy Week 2024, Agarwal said the recent geopolitical tensions, including the Hamas-Israel conflict, has highlighted the need for countries like India to scale up their energy production
BUSINESS
MC Interview | Private sector no more jittery, but being measured about capex: L&T CFO
The private sector has always been investing in industries like cement, steel, electronics, construction materials and automobiles. This will continue to be the case, although it may be more careful spending.
BUSINESS
L&T plans to increase its workforce by about 10% next year, says CFO R Shankar Raman
The engineering major is looking to expand its staff strength in West Asian countries, especially Saudi Arabia, where it has set up fabrication shops and is encouraging local engineering graduates to train with it
BUSINESS
Government has shown continuity in policy, confidence that it will return to power in Budget: L&T CFO
Shankar added he expects the government to improve on the Rs 11.11 lakh crore capex for the infrastructure segment once it returns to power.
ECONOMY
Infrastructure sector gets no big bang announcements from Union Budget but support continues
Interim Budget 2024 has increased capex for 2024-25 by 11 percent to Rs 11.11 lakh crore, which, though lower than the 15 percent hike expected by many from the industry, is still significant and will spur infrastructure growth.
BUSINESS
Infrastructure sector to gain from 11% higher capex in Budget, execution in focus
The government has put in place a system for effective and timely delivery of programmes and of large projects, Finance Minister Sitharaman said in her budget speech
BUSINESS
Upcoming election will not be fought on an Interim Budget 2024, says Infravision's Vinayak Chatterjee
Asset monetisation in infrastructure has not been a satisfying story. The total disinvestment across sectors as well as infrastructure monetisation has been far below expectations. But we can’t expect these announcements in the budget
BUSINESS
We need to be cautious in the Budget for 2024-25 as steel imports are increasing: JSW Steel Joint MD
Economic growth is our primary driver because a lot of steel consumption comes from the economic movement in India, Jayant Acharya said.
BUSINESS
MC Interview | Steel demand may see blip in election quarter in India but otherwise likely to remain strong: JSW Joint MD
The company continues to scout for acquisitions to secure raw materials, Joint MD and CEO Jayant Acharya said.
BUSINESS
Budget 2024: Continue focus on infra, keep an eye on unfair steel imports: Tata Steel MD
Not only would a focus on infrastructure aid the demand for steel, it would also help reduce logistics costs. TV Narendran also hopes that the government will focus on ease of doing business in Budget 2024.
BUSINESS
MC Interview | India demand will be strong, Netherlands will see recovery from the current quarter: Tata Steel MD
The company will miss its target to reduce debt by $1 billion in fiscal year 2023-24 by a mile, TV Narendran told Moneycontrol.
BUSINESS
MC Interview | Infra co boards reluctant to invest, revamp of PPP model may help assuage concerns: Vinayak Chatterjee
To meet India's aspirations of building quality infrastructure, a minimum 8% gross capital formation in infrastructure as a percentage of GDP is needed, he says.
BUSINESS
MC Exclusive Interview |T&D segment growth seen at 25%; hope MS Dhoni as ambassador will help boost polymer business brand and margins: Skipper ED
Capex seen at Rs 300 crore-400 crore over next three years starting FY25, Sharan Bansal says.
BUSINESS
Adani Green completes JV with TotalEnergies, raises $300 million
This follows the binding agreement announced between AGEL and TotalEnergies in September 2023. The JV houses the 1,050 MW portfolio comprising a mix of already operational (300 MW), under construction (500 MW), and under development assets (250 MW) with a blend of both solar and wind power projects in India.
BUSINESS
CG Power inks pact with K Raheja to redevelop headquarter building in Mumbai's tony Worli area
The company and the developer will be entitled to 50% share of the leasehold right and the developed building.
BUSINESS
MC Interview: Hindalco has ability to invest in commodity downcycle; $4.4 billion capex on track: MD
Pai expects India demand for aluminium and copper to remain strong despite lingering concerns over global macroeconomic factors.
BUSINESS
MC Exclusive: COP28 has been “practical”, aluminium industry committed to reduce greenhouse gas emission: Hindalco MD
Hindalco aims that 30 percent of its aluminium production will be low carbon by 2030.
BUSINESS
COP28: Global climate targets will not be met unless governments ramp up NDCs, says ReNew Chairman
Sumant Sinha said that the new MoU with ADB, and older pacts will take care of the company’s debt financing needs for expansion and new businesses.
BUSINESS
ReNew Energy inks MoU with Asian Development Bank for $5.3 billion
The money will be used to finance decarbonisation-related projects between 2023 and 2028.
BUSINESS
Cement industry ‘under construction’ as leader protects market amid high M&A activity
Analysts expect the bigger players will continue to buy up smaller companies and consolidate to protect and gain market share on expectations of robust demand.
BUSINESS
UltraTech to take over Kesoram Industries’ cement biz; sources peg enterprise value at Rs 7,600 cr
The transaction is expected to be completed within 9-12 months, subject to regulatory approvals
BUSINESS
IREDA IPO: Will increase lending to new clean energy segments, says CMD
Chairman and Managing Director Pradip Kumar Das says IREDA is India's largest pure-play green financing entity, and the company is eyeing new business opportunities and requires a fair amount of capital. The IPO opens on Nov 21 and closes on Nov 23.
