BUSINESS
ITC plans investment outlay of Rs 20,000 crore in next five years: CMD Sanjiv Puri
The capital allocation plan includes approximately 35 percent to 40 percent going into the FMCG sector, another 35 percent into paper boards and packaging, and the rest into other businesses, including corporate.
BUSINESS
ITC to launch health and nutrition brand 'Right Shift' in next 10 days: CMD Sanjiv Puri
"The brand is expected to launch in a week or next 10 days and will offer targeted dense nutrition for strength and energy building," announced the chairman and managing director Sanjiv Puri of ITC at a media interaction post-annual general meeting on July 26.
BUSINESS
Aditya Birla Group launches Rs 5000 crore jewellery business brand 'Indriya'
On July 27, Indriya to open 4 stores in three cities Delhi, Indore, and Jaipur. The plan is to open another 11 stores in next six months. The company also states that 15000 SKUs have been crafted by 3500 artisans.
BUSINESS
V-Guard targets 15% CAGR top-line growth in 4-5 years: CFO
Sudarshan Kulkarni, CFO of consumer electronics firm V-Guard Industries, expects product costs to rise 2-3% on commodity price pressure in the next few months.
BUSINESS
Thums Up, Maaza lead Coca-Cola’s bounce back in Asia Pacific
India had 'good double-digit growth of volume' in the second quarter and the company remains very bullish on the Indian market, Coco-Cola CEO James Quincey has said
BUSINESS
HUL expects low-single-digit price growth in 2nd half of FY25, says CFO Ritesh Tiwari
Hindustan Unilever net profit rose three percent year-on-year to Rs 2,538 crore in Q1FY25 from Rs 2,472 crore in the same quarter of the previous financial year. The company's domestic volume growth came at 4 percent.
BUSINESS
Gold jewellery to get cheaper by 9% due to customs duty cut
Finance Minister Nirmala Sitharaman announced today that she had slashed the basic customs duty on gold to six percent from 15 percent in her budget 2024 announcement. The reduction in customs duty will be effective July 24, 2024.
BUSINESS
Rural demand gets a Rs 2.66 Lakh Crore boost in Union Budget
An additional 3 crore houses under the PM Awas Yojana will be constructed in rural and urban areas across the country, with necessary allocations being made, announced the Finance Minister Nirmala Sitharam.
BUSINESS
Double whammy for EV makers as copper prices rally amid declining sales
Analysts predict a 7-8 percent increase in copper prices this financial year, which will push up cost of manufacturing EVs, a worry for the industry battling declining sales
BUSINESS
Explainer: What the apex court stay in the Adani ports land case means for the company
The apex court's order has come as a shot in the arm for APSEZ which is planning a Rs 45,000 crore expansion for the Mundra port.
BUSINESS
BUDGET 2024-25: SME industry body says no to 45-day payment rule relaxation
SME Chamber of India President Chandrakant Salunkhe says that relaxing the rule would be a retrograde step, while also seeking easier access to credit, reduction of import duties, and freedom from GST notices for MSMEs in the Union Budget.
BUSINESS
Dixon Technologies in talks with global laptop, tablet makers, to start manufacturing next fiscal
The company plans to drive growth more through joint ventures and partnerships rather than mergers and acquisitions. It aims to capture a 15 percent to 20 percent IT hardware market share over the next two to three years.
BUSINESS
AC industry faces raw material shortage, supply chain issues: Bluestar MD
According to B Thiagarajan, it is not as simple as an explosion in demand for cooling products brought on by the unprecedented spell of high temperatures.
BUSINESS
86% of CFOs anticipate demand revival in next six months: Moneycontrol CFO sentiment survey
Nearly 82% CFOs anticipate an increase in private capital expenditure in the latter half of FY25, showed the survey.
BUSINESS
Smaller companies to be biggest beneficiaries of GST penalty, interest waiver
In the 53rd GST council meet held on Saturday, the government decided to exempt both penalty and interest provided they pay the principal tax demand by March 31, 2025
BUSINESS
Have money. Will travel: Indians splurge $30 billion on foreign trips in last 2 years
Between FY18 and FY21, overseas travel spending ranged from $4 billion to $6 billion annually. It sharply increased in FY22 to $7 billion and $13.6 billion in FY23
BUSINESS
Need to enhance rural investment through public capex: CII President Sanjiv Puri
Puri says that India's GDP will grow by 8 percent in FY24-25 because of a better performance by the agriculture sector.
BUSINESS
Need to boost formalised skilling, social infrastructure in budget '24: CII President Puri
Puri noted that skilling is a critical area and given India's demographic, the share of formalised skilling has to go up significantly, as it's quite low.
BUSINESS
Use a part of Rs 2.1 lakh crore RBI dividend windfall to raise capex in FY25, says CII President Sanjiv Puri
In the 14-point CII policy agenda for the new government, Puri suggested the rationalisation of capital gains by bringing consistency in tax rates. On the indirect tax front, Puri suggested reforms to simplify GST and including petroleum products, electricity and real estate under GST.
BUSINESS
GST rate rationalisation gets tricky for NDA 3.0
The NDA 3.0 government faces an uphill task in simplifying GST rates, a move that analysts warn would increase the cost of living for the poor.
BUSINESS
How Modi’s coalition government could propel FMCG companies
Consumer non-durables firms anticipate a resurgence in rural demand in 2024, bolstered by sustained government expenditure, price adjustments and improving macroeconomic conditions.
BUSINESS
India Inc pitches for consistency in policy making despite complexities of coalition rule
Expects the new government to persist in prioritizing infrastructure spending and bolstering domestic manufacturing in crucial sectors through initiatives like production-linked incentives.
