All stories by Amritha Pillay
After KCM revival, Vedanta seeks greener pastures in India, abroad
Rediff.com27 Aug 2024UK-based Vedanta Resources is looking to start copper production at its Konkola copper mines (KCM) in Zambia and is eyeing to serve global and Indian markets, according to company executives. Promoted by billionaire Anil Agarwal, the miner in November 2023 regained control of the copper mines and smelter, which the Zambian administration had seized in 2019, but needed to pay creditors of the mines to revive operations. The conglomerate was locked in a legal battle over the ownership of the KCM mines prior to a September 2023 Zambia government decision to reinstate the group as owners of the mines.
RIL net may see sequential dip
Rediff.com15 Jul 2024Consolidated earnings for oil-to-telecom conglomerate Reliance Industries (RIL) may report sequential weakness, and modest year-on-year (Y-o-Y) growth in the June 2024 quarter (Q1FY25), said analysts. Lower refining margins are expected to moderate gains made from other businesses. RIL is slated to report its financial performance for Q1FY25 on July 19.
Capital goods cos may see rise in profit, dip in orders
Rediff.com15 Jul 2024Fresh order wins for capital goods and industrial companies may have seen a major slump due to Lok Sabha polls in the first quarter of the current financial year (Q1FY25). At the same time, revenue and profit growth trajectory is expected to have stayed the course, according to brokerage firms. Elara Capital, Motilal Oswal, and InCred Equities expect this sector universe to report a 12- 21 per cent growth in revenue, 21 -36 per cent growth in Ebitda and 24-38 per cent growth in profit on a year-on-year (Y-oY) basis.
'Fire Is Always A Concern In Mumbai'
Rediff.com29 Jun 2024'As the city grows, so do its fire incidents.'
Related-party transactions: Rs 2.68 trn awaits shareholder nod this week
Rediff.com24 Jun 2024Shareholders of industry giants Adani Enterprises, Reliance Industries, and Tata Motors - the latter two are part of the Sensex - will decide on combined related-party transactions of more than Rs 2.68 trillion proposed for this financial year and later. Related-party transactions for BSE 500 companies touched at least a six-year high of Rs 42.1 trillion in FY23, the Capitaline data shows. The Rs 42.1 trillion includes related-party transactions both at balance-sheet and profit-and-loss levels.
Adani Praises Manmohan, Modi...
Rediff.com20 Jun 2024'If the period between 1991 and 2014 was about laying the foundations and building the runway, the period from 2014 to 2024 has been about the aircraft taking off.'
As order books grow, capital goods, engg companies firm up capex plans
Rediff.com5 Jun 2024As order books gain from India's increased capital outlay, some large capital goods and engineering companies are together spending over Rs 11,500 crore in creating new facilities, data shows. Nine engineering and capital goods companies, where data was available, including Siemens, Larsen & Tourbo (L&T) and KEC International, have a combined capital expenditure (capex) of about Rs 11,500 crore or more. Others such as ABB India and Thermax Global are also adding capacities.
Adani, Tata eye bigger pie in Mumbai power distribution
Rediff.com6 May 2024As Mumbai's real estate and electric vehicle penetration grows, two of the city's private power distribution companies, Adani Electricity and Tata Power, are eyeing a bigger business pie, particularly betting on high-value customers. Adani Electricity Mumbai (AEML), the subsidiary which houses Adani Energy Solutions' Mumbai distribution business, recorded a six per cent growth in total units sold in the financial year 2023-24 (FY24), the company's presentation shows. This gain came at over 13 per cent growth in the year-ago period.
Adani Power revives old ambitions as power demand surges in India
Rediff.com10 Apr 2024Adani Power, part of the Adani group, plans to add close to 6 gigawatts (Gw) of new power assets in the next five years, according to an investor presentation by the company. That is clearly meant to ride on India's burgeoning power demand. But there is another side to it: All of this new capacity is expected to be thermal power, or power produced from coal.
'India is a bright spot. Lot of hope for next two decades'
Rediff.com29 Mar 2024'China is somewhat disappointing in its recovery, and slow growth, and India is reporting strong growth numbers.'
L&T takes on global peers with electrolyser play
Rediff.com27 Feb 2024Engineering conglomerate Larsen & Toubro (L&T) is preparing the ground to begin the commercial sale of electrolysers in September, which would be 50 per cent cheaper than its European counterparts, a senior company executive has said. An electrolyser is a key equipment required for the generation of green hydrogen. Last quarter, L&T manufactured its first electrolyser as a prototype.
'Rural consumers also driving power demand'
Rediff.com24 Feb 2024'This was earlier driven by industries and the commercial sector.'
Now, It's Shah Rukh Vs Sunny Deol
Rediff.com17 Feb 2024Of the top four companies, which collectively hold more than half of India's market share, two have pitted Shah Rukh Khan and Sunny Deol against each other.
'Private capex will depend on demand and supply situation'
Rediff.com14 Feb 2024'The private sector will look to the budget to check whether there are any headwinds or tailwinds.'
Indian companies look to cash in on bulging infrastructure order book
Rediff.com6 Feb 2024Investments worth more than Rs 80 trillion are expected in roads, railways and urban infrastructure between now and FY30 and the supply chains helping to build this core infrastructure are also readying to cash in on the growth. In the first half of the current financial year, orders worth more than Rs 2.6 trillion were tendered in the roads and railways segment alone, according to data sourced from ICRA Ratings and Research. "India's transportation infrastructure sector is in high gear, and we enjoy a sizable share of it," said S V Desai, whole time director and senior executive vice president (Civil Infrastructure) for Larsen & Toubro.
Q3FY24 earnings preview: Consumer business to boost RIL's earnings
Rediff.com23 Jan 2024Reliance Industries' (RIL's) consumer business is expected to lead earnings growth in the Q3FY24 performance, according to analysts. While the energy business is expected to show sequential weakness, the consumer business, especially retail, is estimated to show strong growth. The oil-to-telecom conglomerate will announce its Q3FY24 financial results on Friday.
Yet another healthy showing likely for capital goods in Q3
Rediff.com17 Jan 2024Earnings growth trajectory for India's capital goods firms is likely to stay buoyant for the December 2023-ended quarter (Q3 FY24), said analysts. Guidance on margins, ordering activity in an election year and export-related demand would be key monitorables. Brokerages - Motilal Oswal, Nuvama, Kotak Institutional Equities and Prabhudas Lilladher - estimated revenue growth for their capital goods universe to be 11-16 per cent year-on-year (Y-o-Y).
Corporate bosses' message for 2024: Focus on people, tech, geopolitics
Rediff.com2 Jan 2024Asia's richest man, Mukesh Ambani, signed off an address to employees last week by assuring them that 2024 would be better than 2023 for both Reliance Industries and India. Ambani isn't an exception. Promoters and their representatives from several other conglomerates have expressed similar optimism.
RIL's new energy business piques analysts' interest
Rediff.com18 Dec 2023For the company's latest energy initiative to expand its green energy and storage portfolio, some analysts are beginning to suggest a closer look at some of its segments. In his address to shareholders in the company's FY22 annual report, billionaire Mukesh Ambani, chairman and managing director of the company, said: "The green energy value holds great promise to outshine all our existing growth engines in just 5-7 years." The company has marked an investment of Rs 75,000 crore towards its new energy plans, which include solar energy value chain, green hydrogen, energy storage and other similar businesses.
100 deaths at BSE50 Companies
Rediff.com11 Dec 202374 of these fatalities were reported by 8 companies: Coal India (21), L&T (14), Vedanta (13, of which Hindustan Zinc reported 7), Tata Steel (7), Power Grid Corporation of India (7), JSW Steel (6), and ONGC (6).