Page 12 - Capex

Coal India's capital expenditure rises 33% to Rs 7,027 crore in Apr-Sep

Coal India Ltd on Wednesday said its capital expenditure grew 33 per cent to Rs 7,027 crore in April-September FY23 as compared to the year-ago period. The company's capex in the year-ago period stood at Rs 5,300 crore. The two coal evacuation infrastructure heads - setting up of coal handling plants (CHP)/silos and railways lines - together accounted for 36 per cent or Rs 2,547 crore of the total capex in the period under review, CIL said in a statement. "Capex push is essential for long-term growth prospects. To align the increasing production with robust transportation logistics, CIL is fast-tracking the development of its coal evacuation system. This would help in handling the seamless movement of coal in future," a senior executive of the PSU said. Construction of CHPs/silos under first mile connectivity was the major capex head at Rs 1,489 crore during the six-month period of FY23, as compared to Rs 614 crore a year ago. This affirms the company's intention to put in place

Ramco Cements to spend Rs 731 cr on capex in H2FY23, posts Rs 11 cr Q2 PAT

Its cement capacity has gone up to to 21 mtpa with clinker capacity of 14 mtpa

Cement firms raise FY23 capex amid cost pressure, aluminium cos trim plans

While UltraTech, ACC, Ambuja intend to go ahead with capex, Analysts point to volatility in global aluminium prices for Vedanta arm's revised capex guidance

Less than 50% capex planned for FY23 utilised, says Tata Steel CEO

Tata Steel has spent less than half of the capex planned for ongoing 2022-23 fiscal year, its CEO T V Narendran said. The company had planned Rs 12,000 crore of capex for the year, of which about Rs 8,500 crore was for India and the balance for Europe. "We have spent a little less of the 50 per cent (of the planned capex) till now," Narendran told PTI in reply to a question related to capital expenditure plan for FY23. For September quarter, Tata Steel reported 90 per cent drop in consolidated net profit to Rs 1,297 crore as against Rs 12,547.70 crore in the year-ago period. In India, Tata Steel acquired Odisha-based steel maker Neelachal Ispat Nigam Ltd (NINL) for Rs 12,000 crore in a bidding process in July. In the UK, the company is seeking 1.5 billion pounds from the UK government to execute its decarbonisation plans. Tata Steel owns the UK's largest steelworks at Port Talbot in South Wales and employs around 8,000 people across all its operations in the country. Narendran h

Dr Reddy's lines up Rs 1,500 cr capex, to focus on biosimilars, injectables

Dr Reddy's Laboratories has earmarked a capex of around Rs 1,500 crore for FY23 with major part of it slated to go into building capacities for its biosimilar and injectable businesses, according to CFO Parag Agarwal. The Hyderabad-based drug major also plans to utilise the capital for adding capacities to existing plants, firm up R&D activities and further invest in digitisation projects. "The capex for the full year is likely to be around Rs 1,500 crore in that range, and a lot of this capex is towards building capacity for our biosimilar business and for our injectable business," the chief financial officer said in an analyst call. He was replying to a query about the company's capex plans for ongoing financial year. "When we say capex, obviously, it is not all going into building new plants. So, there will be several additions to existing plants, there will be maintenance capex, there will be capex on digitalisation projects, on R&D facility. So, it is all put together," .

Maruti Suzuki lines up over Rs 7k cr capex for current financial year: CFO

Maruti Suzuki India plans to invest over Rs 7,000 crore this year on various initiatives, including the construction work of its new plant in Haryana and new model launches, according to company CFO Ajay Seth. The country's largest carmaker has already commenced work at the new facility in Sonipat district. The Kharkhoda-based plant, the company's third set-up in the country, is expected to be operational by 2025 with an installed production capacity of 2.5 lakh units in the first phase. Currently, Maruti Suzuki India (MSI) has a cumulative production capacity of over 22 lakh units per annum across its two manufacturing plants in Haryana and parent Suzuki Motor's facility at Gujarat. The two plants in Haryana -- Gurugram and Manesar -- together roll out around 15.5 lakh units per annum. In May, the auto major had announced to invest Rs 11,000 crore in the first phase of the Sonipat facility. "We will be spending upwards of Rs 7,000 crore this year," Seth said in an analyst ...

Central government to introduce 7-8 PLI schemes in next Budget: Report

The new PLI schemes will likely cover segments like textiles, electronic components, furniture, toys and leather

Asian Paints announces Rs 2,400-cr capex plans for two manufacturing units

Asian Paints on Thursday announced Rs 2,100 crore of phased investment to set up a new plant to produce vinyl acetate ethylene emulsion (VAE) and vinyl acetate monomer (VAM) in the country. The company also announced another Rs 550 crore of investment to set up a white cement plant in the UAE in partnership with two local firms there. The board has approved setting up of a manufacturing facility for VAE and VAM in the country. The company will invest around Rs 2,100 crore in the plant over the next three years, which includes the cost of land, the company informed the stock exchanges without giving other details like the location of the plant among others. The statement also said the plan is subject to entering into definitive agreements, including technology licence agreement from the US-based Kellogg Brown & Root, for manufacturing VAM and VAE and obtaining the necessary regulatory and other approvals. The proposed plant will have an installed capacity of 1 lakh tonne per annum .

Adani Enterprises to raise Rs 1,000 cr via public issue of debentures

CareEdge has assigned 'A+' to the proposed issuance of debentures. It also reaffirmed ratings for long-term bank ratings 'A+' and short-term facilities 'A1+'

Street Signs: Bank Nifty interestingly poised, 3.4x upside in IRB, and more

Engineering and capital goods companies are likely to see revenue growth momentum, led by robust order backlog and pick-up in execution

13 states can incur capex worth Rs 7.4 trillion in FY23: ICRA report

Spending space available without pressure to their fiscal profile, says agency

Telecom's share in overall capex may rise in next 5 years on 5G push

Capex of telcos in FY18-22 went up nearly two and a half times to Rs 3.45 trn

Delhi International Airport to raise up to Rs 1,600 cr via debentures

Tweaks plans to opt for Debentures as alternative to lease financing

Top Headlines: PM Gati Shakti plan, broad-based rules for PE/VCs, and more

Under a 100-trillion-rupee ($1.2 trillion) mega project called PM Gati Shakti Modi's administration is creating a digital platform that combines 16 ministries

Capex on new projects declines further in Q2 amid higher borrowing costs

Higher global borrowing costs are expected to affect growth prospects

A shift towards indigenisation: 'Make in India' fortifies defence spending

An analysis of defence capex over the past 12 years shows a noticeable shift towards indigenisation

Govt orders, private capex fuel KEC's order book by Rs 6,000 crore

The company reported Rs 23,716 crore of orderbook in the fiscal year ended March 2022, up by 18% over the previous year and plans to bid for Rs 1.1 trillion of orders, which are in the pipeline

Top Headlines: Stricter framework for FPI owners, India Inc's capex, & more

The Securities and Exchange Board of India (Sebi) is mooting a stricter framework for identifying "beneficial owners (BOs)" of foreign portfolio investment (FPI) in the country

India Inc's FY22 capex rises 9.1% YoY but lags pre-Covid growth

The rise in corporate assets, also called gross block, was largely led by top companies and industry leaders; small and medium firms lagged in capex terms

Tata Power assures quality power to industries, to invest Rs 5k cr in capex

A day after Odisha Chief Minister Naveen Patnaik appealed to investors from across the country to take advantage of the state's business ecosystem, Tata Power Discoms on Thursday announced to invest Rs 5,000 crore to ensure reliable and quality electricity supply to industries. This was stated by Tata Power's T&D, President, Sanjay Banga during an interaction with PTI here. "We are fully committed to realise the Odisha government's vision of Make in Odisha through reliable and quality power supply to industries," he said, adding that Tata Power Discoms serve 9 million customers across the state. Banga said that Tata Power Odisha Discoms will soon be in a position to provide new industrial connections in a week to 10 days' time based on availability of network . "Thus, we will be supporting the ease of doing business in the state. The company has already extended the facility of availing new service connection through WhatsApp and missed call services to its customers," he ...