Capex Recovery

The increased capex on infrastructure in the budget will spur domestic steel demand, attract investments and create job opportunities, industry players and experts said. Finance Minister Nirmala Sitharaman presented her sixth Budget on Thursday in which she announced a Rs 11.11 lakh crore spending on infrastructure among other proposals for sectors like solar and startups. "This focus on infra will result in robust domestic steel demand, attract investments and create job creation. The coming 5 years will see again the unprecedented growth and development and steel will be a key driver in this development," Alok Sahay, Secretary General, Indian Steel Association (ISA) told PTI. Kamdhenu CMD Satish Kumar Agarwal said the budget addressed one of the most important needs of the middle class that is housing. The government's commitment to build 20 million houses for the poor in the next five years and the announcement of a scheme to help deserving sections of the middle class buy or bui

DCM Shriram, which has a presence in sugar, fertiliser and chemical businesses, has raised a Sustainability Linked Loan (SLL) of Rs 200 crore from HSBC India to fund its capex plan in Gujarat. This strategic financial move is aimed at supporting the company's ongoing capital expenditure programme in Bharuch, Gujarat, it said in a statement. "This is our first Sustainability Linked Loan obtained from HSBC India, marking our unwavering dedication to our Environmental, Social, and Governance (ESG) objectives," Amit Agarwal, Executive Director & Group CFO of DCM Shriram Ltd, said. "We have embarked on projects worth approximately Rs 3,500 crore, predominantly within our sugar and chemical divisions. Notably, projects in our sugar business have already been commissioned, while those in the chemicals business are nearing completion," he said. Ajay Sharma, Head-Commercial Banking at HSBC India, said it is committed to providing financing to support and incentivise the transition to a ...

The note said there could be a market opportunity of Rs 1.6 trillion for domestic procurement by FY26 due to overall solid defence capex growth and low imports due to indigenisation

The Standing Committee, headed by Jayant Sinha, highlighted the need for forward-looking surveys by industry and region to anticipate future trends

Budget 2023: PAN cards will be used as a common identifier for all government schemes, the FM said in her Budget speech

Improving demand along with stable competitive intensity, and peak capex is expected to trigger linear growth for the Indian Tyre industry

However, low demand in the economy has been arresting fresh investments, and experts tracking India Inc have not seen any major announcement in this zone

Data from Controller General of Accounts shows capital expenditure for April-June 2020, at Rs 88,273 crore, was 40% higher than a year ago, though the gap narrowed to just 4% by July-end

The rating agency - in its Infrastructure Yearbook 2019, released on Tuesday - said most of the sub-sectors in infrastructure have shown stress this year, compared to the previous year

Back in February when most capital goods companies showed improved capacity utilisation, it pointed to early signs of turnaround for the sector. Now that belief has gathered more strength, thanks to a strong March quarter performance from ABB India and Siemens India. Even as their net profit took a hit due to change in accounting norms, the key takeaway was the eye grabbing growth in order inflows. For ABB India, the 28 per cent year-on-year growth in order inflow came from power transmission and distribution (T&D) segment, while pockets such as renewable energy and railways also supported it. A similar case entails for Siemens India. The spike in order inflow (up 61 per cent year-on-year) in March quarter derives additional strength from cement, steel and automotive (construction equipment) sectors as for modernisation, maintenance and expansion is underway in these industries. This has prompted a few analysts to believe that these could be early signs of turnaround in capacity ..