BUSINESS
Even before China’s stimulus, the steel market may have started healing itself
While China’s monetary measures are more substantial than earlier ones, falling steel output in the largest steel producer may have already begun trimming surplus output
BUSINESS
Strengthening of group audits should benefit investors
When consolidated financials are more material than standalone financials, the audit quality of group entities gains importance. The accounting regulator is seeking to reform how that’s done
BUSINESS
Chart of the Day: Will higher duties curb edible oil imports?
Farmers and processors may be the intended beneficiaries of the duty hikes but it comes at a cost given there isn’t sufficient domestic output to support demand
BUSINESS
FMCG margins to gain from lower costs, but sales growth faces a big risk
Commodity prices remaining stable or soft is what FMCG majors would like, when material costs decline sharply there’s an acute risk of smaller players stealing a march over the bigger ones
BUSINESS
Mario Draghi’s recommendations to strengthen CBAM pose a risk to domestic metal producers
A part of his report on improving the EU’s economic competitiveness deals with the Carbon Border Adjustment Mechanism, identifying risks in the design for EU producers and then recommending changes that could hurt exporters such as India
BUSINESS
The policy twists that lie in wait for investors in sugar mills
A new sugar control order is in the making, even as the govt has removed caps on sugar diversion for ethanol in the new season but is it all hunky-dory?
BUSINESS
Chart of the Day: Kirana’s FMCG channel share is steady in 2024, so where’s the threat?
Overall market share appears stable but the real story lies in other metrics such as growth within online shopping, and the number of shopping trips and spend per trip
BUSINESS
Chart of the Day | Imports playing bigger role in domestic aluminium consumption
Between FY19 and FY24, the share of imports in domestic aluminium consumption has stepped up and even within imports the share of non-scrap aluminium has risen
BUSINESS
Retrospective effect of SC mining judgement casts shadow over companies’ earnings
Affected metal and mining companies should come forward to report their estimated liability, so that investors get clarity on the expected hit, both from retrospective and prospective liabilities
BUSINESS
Chart of the Day | Will ethanol deliver for sugar mills in FY25?
Initial estimates point to a slight cut in the sugarcane output. The government too appears to be signalling mills to diversify into alternate feedstocks for ethanol, perhaps, a sign of times to come
BUSINESS
India’s steel producers are caught between China and a hard place
China’s weak economy is pressuring iron ore prices and in turn depressing global steel prices and instead of cutting output its steel producers are exporting more, thereby turning the heat on Indian steel producers
BUSINESS
ITC’s cigarettes business helps it sail through rough seas
As the company’s FMCG business faces rough weather due to a heatwave and the general malaise in consumption, the cigarettes business lends a shoulder to sales and profit growth
BUSINESS
SC judgement allowing states to tax mineral rights poses risk to industry
States' ability to tax mineral rights is likely to see costs for miners and user industries increase, but much depends on whether the impact can be absorbed or will be ruinous for margins
BUSINESS
Chart of the Day | Corporate Tax Rates: Old 30 percent tax rate is giving the new 22 percent rate a run for its money
While the new lower 22 percent tax rate still accounts for more than half of corporate income offered to tax, its share has fallen. The 30 percent tax gained ground with income under this tax rate rising by 60 percent, twice that of the 22 percent tax rate
BUSINESS
No major consumption boost in Budget, but Street remains optimistic
The Budget 2024 did not contain measures that could directly benefit consumer demand, preferring to invest in building blocks that could lead to future consumption opportunities
BUSINESS
Rural Consumption: Where are the gaps, asks Economic Survey 2023-24
The key takeaway from the Survey about rural consumption is that it is doing as well as it can and the main efforts should be focused on providing the masses with the right infrastructure, business opportunities, diversifying away from problem areas and encouraging more private investment in agriculture
BUSINESS
What Asian Paints' results say about its tryst with competition
The paint major’s volume sales growth disappointed and margins shrank, but competition was not to blame, said its management. The festival season should give more robust answers to how it is faring in the face of competition
BUSINESS
The value from Patanjali Foods’ acquisition of promoter business lies in the future
While Patanjali Foods will turn into a more complete FMCG company post-acquisition, the transaction structure involving a royalty and slower market growth implies the gains will not be instant
BUSINESS
Moneycontrol Pro Panorama | China’s shadow on global manufacturing refuses to shorten
In today’s edition of Pro Panorama: New Budget’s priorities, China hand in inflation, rains playing a cat and mouse game, road ahead for Indian bonds, and more
BUSINESS
Dilution of voluntary delisting norms a blow to minority shareholders
Minority shareholders will be disappointed with SEBI’s move to dilute the current voluntary delisting norms
BUSINESS
What stopped the copper rally in its tracks?
Copper prices crossed $10000 a tonnes in May and it looked like nothing could stop it. But as June draws to a close, prices are sharply off their peak levels
BUSINESS
Chart of the Day: India’s steel output slows down even as consumption stays strong
May was the second successive month in which India’s crude steel output grew by less than 4 percent, sharply lower from its trend in earlier months
BUSINESS
Signals from MSP hikes for the FY25 Kharif season
It comes in the backdrop of a slow start to the monsoon, with all eyes on whether farm output will give a boost to rural income in the current fiscal
BUSINESS
Is private sector capex turning a corner?
Capital work-in-progress data show manufacturing sector investments stepping up. For overall capex to grow, more sectors need to join the chorus
