Page 4 - Capex Spending

Timken India soars 10% on plans to set up Gujarat manufacturing facility

The company will set up new manufacturing facility at Bharuch, Gujarat to manufacture Spherical Roller Bearings (SRB), Cylindrical Roller Bearings (CRB), and other components

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

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

Top Headlines: Run-up to Budget 2023-24, India Inc's Q2 earnings, and more

The July-September quarter (second quarter, or Q2) of 2022-23 (FY23) could mark the end of the period of an unprecedented rise in India Inc's earnings in the aftermath of the pandemic

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

Higher global borrowing costs are expected to affect growth prospects

Private sector capex likely to lift off this fiscal, says RBI study

Loan sanctions at Rs 1.4 trn vs all-time high of Rs 4 trn in FY11

India on the verge of capex recovery in coming years: Prabhudas Lilladher

The FY23 budget has increased the capex plans of the Centre by 10.6 per cent to Rs 12.2 trillion

Sensex soars over 1,000 points: Top 5 reasons driving investor sentiment

Analysts believe that the US Fed's confidence about strong labor markets and dismissal of recession brought respite to the investors

Centre's capital expenditure outlay in Q1 could be close to Rs 1.5 trillion

It is in the July-September quarter (Q2) of FY23 that capex is expected to pick up, when a bulk of the long-term capex loans to states are expected to be expended

FM Sitharaman reveals how the govt will build its way to economic revival

In an interview with Business Standard, FM Nirmala Sitharaman spoke on why she sees better days ahead, and why spend on capital assets may be a better bet than sector-specific fiscal steps

Housing, roads among biggest capex gainers in FY22, PMAY urban lags

FM Sitharaman had allocated Rs 48,000 cr to PMAY (urban and rural) for FY23. The govt then extended the deadline for the rural by two more years, and may have to do the same for urban

Cement stocks under pressure as UltraTech announces Rs 12,866 cr capex plan

Shares of cement companies like UltraTech Cement, Dalmia Bharat, JK Cement, The Ramco Cements and Shree Cement were down in the range of 2 per cent to 6 per cent.

Not all states are so financially weak that they can't announce freebies

However some such as Punjab and West Bengal are not on sound financial ground

ONGC, IOC, others to spend Rs 1.11-trn capex in FY23

ONGC has planned a capital expenditure (capex) of Rs 29,950 crore in FY23, marginally lower than the revised estimated expenditure of Rs 30,500 crore in the current fiscal

Noodles to chips: Global capex booms as companies prep for post-Covid era

Corporate capital expenditure will jump globally by 13% this year, according to S&P Global Ratings, with growth in all regions and broad sectors.

Dr Reddy's lines up Rs 1,000 cr capex for current fiscal on growth outlook

Dr Reddy's Laboratories has earmarked a Capex of around Rs 1,000 crore for the current fiscal as it remains positive about sustaining its growth trends in the current fiscal, top company official said

mRNA Covid vaccine maker Gennova lines up Rs 250-crore capex: Crisil

The Emcure Pharma arm has tied up with Seattle-based HDT Biotech Corp for the vaccine, on which animal trials have been completed. Phase-I and II trials likely to be completed in 2-3 months

L&T, ABB India: Analysts bet on capex-related plays amid economic revival

"Valuations for consumption stocks now appear stretched while the industrials sector still trades at historical averages," wrote Amish Shah of BofA Securities

60% of govt 'spending spree' inevitably goes towards committed outlay

With schemes like MGNREGA and cash support via PM-KISAN given priority in allocation from the remainder, govt is forced to dip into capital receipts from disinvestment and borrow from the market

Budget showcases govt's strong strategic push for growth-oriented roadmap

The sharp and targeted focus on infrastructure, capex, health, education, financial sector reforms and fiscal credibility have been the key takeaways from this Budget