Page 5 - Capex

Interim Budget 2024-25: Infrastructure likely to get a capex thrust

Increase in outlay in line with industry expectations

Interim Budget: FM sticks to fiscal consolidation path in Budget speech

Interim Budget: FM Sitharaman said that the fiscal deficit in 2023-24 is expected to be 5.8%, lower than the earlier estimates of 5.9%

Govt spending must pursue evidence-based policy for best outcomes

It's important to see the quality of spending and missing gaps in resource provision

Interim Budget to reduce fiscal deficit, focus on capex, suggests poll

The government is aiming to narrow the fiscal deficit to 4.50 per cent of GDP by the end of the 2025-26 fiscal year (FY) from 5.90 per cent in the current year to end-March 2024

Budget 2024: Centre may increase FY25 capex target for CPSEs by 12-13%

The government aims to propel economic growth with a higher capital expenditure target for central public sector enterprises (CPSEs) in the upcoming financial year

Supreme Industries Q3 results: Profit rises 22% to Rs 256.17 crore

Plastic products maker Supreme Industries Ltd on Friday reported an increase of 22 per cent in its consolidated net profit to Rs 256.17 crore in the third quarter ended December 2023. The company had posted a net profit of Rs 210.03 crore in the October-December period a year ago, according to a regulatory filing. Its total revenue from operations was up 6 per cent to Rs 2,449.10 crore in the October-December quarter. It was at Rs 2,310.71 crore in the corresponding period of previous fiscal. Total expenses of Supreme Industries were at Rs 2,152.66 crore, up 3.82 per cent in the December quarter. Supreme Industries' total income, which includes other income, was at Rs 2,469.81 crore, up 6.5 per cent in third quarter of current fiscal. Over the outlook, its Managing Director M P Taparia said, "The company remains optimistic for business opportunities and continues to commit more capex in line with its growth plans. "Total commitments including acquisition of business of Parvati A

Centre may peg FY25 fiscal deficit at 5.3% in interim budget: Goldman Sachs

Interim Budget 2024: The Centre will keep a focus on increasing the capital expenditure but it will most likely be at a slower pace than earlier, says Goldman Sachs

Economy to grow 6.2% on favorable factors, positive credit momentum: Report

The Indian economy is likely to grow at 6.2 per cent in the next fiscal, mainly due to the favourable combination of neutral policy settings, positive credit momentum, and manageable macros amid a 15-year high household debt levels, a foreign brokerage report said on Tuesday. Despite the rising external headwinds, India is likely to grow 6.2 per cent next fiscal against a consensus of 6.3 per cent to USD 3.9 trillion from USD 3.57 trillion in FY24 on a likely 7 per cent growth, as consumption growth is likely to stabilise at 4.7 per cent from 4.5 per cent in FY24, Tanvee Gupta-Jain, the UBS India chief economist, said in a note. A pick-up in capex is expected to become more broad-based in FY25, led by marginally moderate public capex but higher private corporate capex after elections, Jain said. Another growth driver will be the residential housing sector along with exports, which may marginally improve, depending on global growth. "We expect India to maintain medium-term growth of

Saint-Gobain plans to invest Rs 3,400 cr across segments in Tamil Nadu

Glassmaker and a player in housing solutions business Saint-Gobain India has committed investments worth Rs 3,400 crore in Tamil Nadu across business segments, which includes setting up of green and brownfield investments. The company exchanged documents with state government officials in the presence of Chief Minister M K Stalin during the Global Investors Meet held in the city. "We are investing Rs 3,400 crore across different businesses - glass wool, gypsum, plasterboard, plaster, acoustic ceiling, float glass, adhesives, sealants, in our next phase of expansion in Tamil Nadu," said B Santhanam CEO, Asia Pacific and India Region and Chairman, Saint-Gobain India. The Memorandum of Understanding entails green and brownfield investments in several manufacturing sectors in Tamil Nadu, taking Saint-Gobain India's total investment to over Rs 8,000 crore, a company statement said on Tuesday. "As trailblazers in Light and Sustainable construction, we are well poised to provide building

Bharat Forge to invest Rs 1,000 cr in Tamil Nadu to enhance production

Auto components major Bharat Forge on Tuesday said it has inked an MoU with the Tamil Nadu government to invest Rs 1,000 crore over a period of five years to expand manufacturing footprint in the state. The company has entered into a memorandum of understanding (MoU) with Guidance, the nodal agency of the state government as part of the Tamil Nadu Global Investors Meet 2024, it said in a regulatory filing. The MoU is non binding and at present does not have a material impact on operations of the company, it added. Bharat Forge shares were trading 1.09 per cent up at Rs 1,271.10 apiece on BSE.

Will govt compromise on capex for fiscal consolidation ahead of polls?

National Democratic Alliance governments have not compromised on capex for fiscal consolidation so far, at least in their concluding years

Sustained rise in pvt capex is imminent with strong corporates' books: MCA

According to government data, private companies account for 95.6 per cent of the total active companies as of November 2023

Ind-Ra ups FY24 GDP growth estimate to 6.7%, warns of fiscal challenges

On inflation, the Ind-Ra report said it expects retail inflation to cool off to 5.1 per cent and 4.7 per cent, respectively, in the third and fourth quarter of this fiscal, respectively

Govt project announcements, capex at new low, completion rates slow

It was at Rs 26,987 crore in the three months ended December, according to data from project tracker Centre for Monitoring Indian Economy (CMIE)

States to boost fiscal health in FY24 with high revenue, capex: RBI report

The proportion of states' revenue in gross state domestic prod­uct (GSDP) is projected to reach 8.2 per cent in FY24, the highest sin­ce 2018-19

Capex on national highways rose to Rs 2.4 trl in 2022-23: Nitin Gadkari

Nitin Gadkari provided this information in a written reply in the Lok Sabha on Thursday. The NH network in the country has risen from 91,287 km in March 2014 to about 0.14 million km in 2023

Star Cement's Rs 2200 cr capex expansion drive on fast track: CEO

In a bid to capitalise on the anticipated growth in cement demand in East and Northeast India, Star Cement is fast-tracking its expansion plans in both greenfield and brownfield projects, so that the total capacity reaches 9.7 million tonnes per year by 2025-26, an official said on Friday. The largest player in the Northeast at present, Star Cement's current installed capacity is 5.5 million tonnes. "By the end of 2023, our capacity will be 7.7 million tonnes, and by 2025-26, it will reach 9.7 million tonnes," said Star Cement CEO Vineet Kumar Tiwari told PTI. He was speaking on the sidelines of the 6th Cementing India conference organised by the Indian Chamber of Commerce. The total investment for the expansion plan is around Rs 2,200 crore, of which Rs 1,000 crore has been invested so far, Tiwari said. Speaking about Guwahati brownfield expansion, he said it is rolling out a two million-tonne fresh annual grinding unit that will commence commercial production by December. The .

Adani Group net profit up 107% in first half of FY24 but sales slow down

Capex at Rs 20,000 cr as ports-to-airports conglomerate grows after controversy over Hindenburg Research's report

Steelbird lines up Rs 250 crore capex for new plant in Tamil Nadu's Hosur

Leading helmet maker Steelbird Hi-tech India aims to invest over Rs 250 crore to set up a new manufacturing facility in Hosur, Tamil Nadu, as it looks to scale up capacity to cater to rising demand, according to a top company official. The company, which has four plants each in Baddi (Himachal Pradesh) and Noida, is looking to roll out over 20,000 units from the Hosur plant in two years time. In an interaction with PTI, Steelbird MD Rajeev Kapur said the plant has been envisaged to cater to the aftermarket and demand from various OEMs (Original Equipment Manufacturers) based in South India. "In the initial phase, we are looking to invest Rs 100 crore in the project. The total capex spread over two years would be in the range of Rs 250 crore," he noted. The plant is expected to be functional over the next two years, Kapur said. The company is in the final stages of acquiring the land for the facility, he added. Steelbird is also expanding its manufacturing capacity at existing pla

Haier's IITGNL unit receives govt approval, Rs 400 cr investment expected

The phase two expansion of Haier Appliances unit in the Integrated Industrial Township of Greater Noida Limited (IITGNL) has been approved, government officials said on Friday. The company is expected to make an investment of Rs 400 crore and generate employment opportunities for 1,000 people in the second phase of development, the officials said. The development comes after a recent visit of UP Industrial Development Minister Nand Gopal Gupta, who noted that several investments in Greater Noida were stuck due to pending map approvals of companies. "Haier Appliances, located in the Integrated Industrial Township of IITGNL, after constructing the first phase unit and starting production, is now going to start the construction of the second phase unit," Greater Noida Authority CEO NG Ravi Kumar said. "The map has been approved for the construction of Haier's Phase 2 unit. Now construction is going to start soon," Kumar, also the managing director of IITGNL, said. According to the ..