Page 2 - Growth

Sustained momentum

Private consumption remains a weak spot

Expectations of fresh round of private capex to fuel growth: RBI Bulletin

The Indian economy continues to sustain the momentum achieved in the first half of 2023-24 and expectations of a fresh round of capex by the corporate sector is likely to fuel the next leg of growth, the Reserve Bank Bulletin said on Tuesday. "The likelihood of the global economy exhibiting stronger than expected growth in 2024 has brightened in recent months, with risks broadly balanced," said an article on 'State of the Economy' published in the bulletin. It further said the Indian economy continues to sustain the momentum achieved in the first half of 2023-24, going by high frequency indicators. "Expectations of a fresh round of capex by the corporate sector is likely to fuel the next leg of growth," said the article authored by a team led by RBI Deputy Governor Michael Debabrata Patra. The central bank has projected the GDP growth for 2024-25 at 7 per cent. On inflation, it said consumer price inflation came off its November-December spikes in its January 2024 reading, while c

Meghalaya needs to sustain 11.5% GSDP growth to become $10 bn economy: CM

Meghalaya Chief Minister Conrad K Sangma on Saturday asserted that the state needs to sustain 11.5 per cent annual GSDP growth to achieve the ambitious target of becoming a USD 10 billion economy by 2028. Addressing a gathering after laying the foundation of a Rs 100 cr bulk water supply project at Ballonggre in West Garo Hill district, Sangma said that the state is at present a Rs 45,000 crore economy and that needs to be improved. "It is a herculean task but the state government has charted out a roadmap to achieve the target," he said. The CM asserted that his government has a vision for the state and investments are being made to build better and sustainable infrastructure, create jobs through entrepreneurship and adopt innovative policies and programmes to increase farmers' income. He said a thrust has been laid on improving rural economy by focusing on enterprises that will leverage the potential of the rich natural resources of the state. He asserted that Meghalaya has won

Volume outlook remains strong for Varun Beverages after stellar Q3 results

The Indian market led on the volume front, experiencing a growth of 19 per cent, while international markets posted a 16 per cent growth

Future India expansion will have Tier-II, -III focus: Verma and Wang

VINEET VERMA, managing director, WTC Bengaluru, and SCOTT WANG, vice-president, Asia-Pacific-WTCA, share their insights into the organisation's growth drivers

Investing for growth

Private-sector investment revival is crucial

Auto-tech solutions firm CarDekho Group expects 60% growth in 2024

"After maintaining a growth rate of over 60 per cent in the last three years, the Group projects similar favourable growth in the upcoming year," said the company

UP govt distributes loans worth Rs 1.72 trn in FY24 to boost MSME sector

The MSME advances clocked Rs 1.5 trillion in FY23 against the target of Rs 78,000 crore, proliferating by 191 per cent

Godrej Consumer expects to deliver mid-single digit volume growth in Q3

FMCG major Godrej Consumer Products Ltd (GCPL) on Friday said it is expecting to deliver a "mid-single digit volume growth" on a consolidated basis in the December quarter. In the domestic business, GCPL's organic business delivered steady underlying volume growth of mid-single digits and its inorganic business as Park Avenue and KamaSutra reported a double-digit volume growth. "Growth was broad-based across both home care and personal care. Park Avenue and KamaSutra brands continue to perform well and are on track to achieve full-year ambition," the Godrej Group FMCG arm said in a quarterly update on Friday. The company said its Indonesia business -- the second biggest market after India for GCPL -- continues to deliver "compelling performance" with close to double-digit volume growth and high-single-digit constant currency sales growth. "The GAUM (Godrej Africa, US, and Middle East) business had a flattish to mild decline in volume growth. This was driven by trade destocking in .

Slew of launches, robust pipeline to drive growth for Godrej Properties

With inventory levels still declining, and pricing strong, developers are pushing for new launches in 3Q to capitalize on the demand, says Jefferies Research

Corruption, nepotism replaced by growth & development in last 10 yrs: Shah

Union Home Minister Amit Shah on Friday said a golden future awaits the country's youths as corruption, nepotism and casteism have been replaced by growth and development in the last 10 years. Speaking at the inauguration of the Akhil Bharatiya Vidyarthi Parishad's (ABVP) national conference at Burari here, he said education is not just for shaping careers but also for nation building. A golden future awaits the country's youths. In the last 10 years, great changes have taken place in the country with corruption, nepotism and casteism replaced by growth and development, Shah said. Youth power is the backbone of the country and drives its growth and development, he said. "India's time has come and the whole world looks up to it for solutions to various problems," he added. Conserving cultural heritage and development are not contradictory. No one believed the Ram temple could be constructed in Ayodhya, the minister said. Lauding the ABVP, Shah said it has not only struggled agains

LIC targets double-digit growth, plans 3-4 products for FY24: Chairman

Insurance behemoth Life Insurance Corporation (LIC) has lined up 3-4 product launches in the coming months with a view to achieve double-digit growth in new business premium in the current financial year. "We are projecting double-digit growth over the last year. We are going to achieve that because a recent trend is showing uptick in individual retail business. In order to further reinforce our commitment, we are going to launch some new attractive products," LIC Chairman Siddhartha Mohanty told PTI in an interview. LIC is going to launch one product in the first week of December, he said, hoping that it will attract a lot of traction in the market. Sharing some features of the new product, Mohanty said it will provide assured returns and after maturity, the policyholder will get 10 per cent of the sum assured life long. He exuded confidence that the new product will create disruption in the market as everybody wants to know how much he or she is paying and the returns one would g

Growth and margin uptick critical for gains in Divi's Laboratories

Motilal Oswal Research is factoring in 25 per cent net profit growth annually over the FY23-25 period adjusting for Covid-led business in FY23

Godrej Interio aims Rs 450 crore revenue from north India by FY26

Godrej Interio, a leading furniture and interior solutions brand, said it aims to generate Rs 450 crore revenue from northern India by FY26. Besides, it also looks to almost double its market share in the organised furniture sector in Delhi-NCR, the biggest market in north zone, within the next three years, said a statement from the company, owned by Godrej Group flagship company Godrej & Boyce. The company is expanding its sales network in the northern market, adding 15 new stores in current fiscal, taking the total number of stores to 35 across the northern market. "At present, we have 18 per cent market share of the organised furniture sector in Delhi-NCR, and we intend to attain a 35 per cent share within the next three years. We aim to generate revenue of around Rs 450 crore from northern India by FY26," said Godrej Interio Senior Vice President (B2C) Dev Sarkar. Moroever, with the introduction of specialised home furniture and home storage solutions, the company is ...

Ceat Q2 PAT jumped 32-fold, helped by better product mix, price hikes

The company declared results post market hours. The company's stock was down marginally (1.7 per cent) on the BSE to Rs 2,101 apiece

NTPC logs 83% growth in coal production in first half of this fiscal

State-run power giant NTPC on Tuesday reported an 83 per cent rise in coal production in April-September period of this financial year, compared to a year ago. NTPC Ltd has reported a substantial growth of 83 per cent in coal production from its captive mines during H1 FY 2023-24, as compared to the corresponding period in the previous year, a company statement said. The company achieved a coal production of 16.05 million metric tonnes (MMT) during H1 FY24, as compared to 8.76 MMT in H1 FY23 (April-September 2022). In addition, NTPC has also achieved a coal despatch of 17.20 MMT in H1 FY24, marking a significant 94 per cent increase over the previous year for the same period. Till date, NTPC has produced more than 85 million metric tonnes (MMT) of coal from its four operational captive coal mines i.e Pakri Barwadih & Chatt-Bariatu Coal Mines in Jharkhand, Dulanga Coal Mine in Odisha and Talaipalli Coal Mine in Chhattisgarh. Further, mine operations have also started from Kerendari

Bharat Biotech plans to invest Rs 3,000-4,000 crore in post-Covid shift

Not thinking about an IPO as of now, says chairman

India is the top market in terms of growth rate in APAC for Lacoste

Meyer added that the buying power of the Indian consumer is on the rise in India, thus also pushing up disposable incomes, and expects it to grow much further

Mutual funds debt exposure to finance companies rose 60.1% in July

The exposure through investment in commercial paper of NBFCs crossed the Rs one trillion mark, last seen in August 2019, it said

AB InBev India hits 30% volume growth in H1, expects to maintain it in H2

Brewer Anheuser-Busch InBev (AB InBev) India has reported a 30 per cent increase in sales with gains in some markets in the first half of 2023 and expects the momentum to continue in the second half, its India President Kartikeya Sharma said. The company, which is a leading player in the premium and super premium beer segment with brands like Budweiser, Hoegaarden and Corona, has reported 200-300 basis points upside in growth in large markets such as Karnataka, Maharashtra, Uttar Pradesh, Haryana and West Bengal, he said. "The beer industry grew 20 per cent from January to June 2023... We grew ahead of the industry by almost 50 per cent. So our growth was closer to 30 per cent, said Sharma in a media roundtable here. However, there are some challenges from the urban market, which is witnessing some tapering off in the demand at urban centres but Sharma is confident in maintaining the growth rate. The challenge is for us to see how in H2 we are going to sustain and expand the share