Page 11 - Capex

GM to invest $1 bn in Flint plants to boost heavy-duty truck production

General Motors plans to invest more than USD 1 billion in two Flint, Michigan manufacturing plants for the production of the next-generation internal combustion engine heavy-duty trucks. Gerald Johnson, executive vice president, Global Manufacturing and Sustainability, said Monday that the company will build internal combustion vehicles throughout this decade, in addition to making electric vehicles. GM has a goal of building only electric passenger vehicles in the United States by 2035. The Detroit automaker reported a 38 per cent year-over-year increase in heavy-duty pickup sales last year, with nearly 288,000 trucks sold. GM will invest USD 788 million in the Flint assembly plant, with updates including a body shop building expansion, general assembly conveyor expansion, and new tooling and equipment. The company will invest USD 233 million in the Flint metal center for new stamping dies to support production of its next-generation ICE heavy-duty trucks, as well as press ...

Godrej Group arm to invest Rs 100 cr to acquire material handling equipment

Godrej & Boyce on Tuesday said it will be investing Rs 100 crore over the next three years to acquire material handling equipment. Demand for renting the equipment is high and the capital investments will be by Godrej Rentrust eyeing a share of the same, a statement said. Pegging the overall market at Rs 2,200 crore, the company said it is eyeing business in the auto, engineering, chemicals and pharma, food and beverages, fast-moving consumer goods, logistics, ecommerce and retail sectors. In the January-March period, it received 100 orders from companies for deploying equipment, the statement said. Renting equipment has become a preferred option for businesses seeking managed services and bypassing high upfront costs, the company said, adding that it has grown at over 20 per cent per annum over the last five years.

JSW Steel eyes coking coal assets to beef up raw material security

Target is to have 25% linkages in the next few yrs: Acharya

Mahindra & Mahindra increases capex outlay for FY22-24 to Rs 15,900 cr

Mahindra & Mahindra on Friday said it has revised upward the capital expenditure (capex) outlay for the three years cycle of FY22-FY24 to Rs 15,900 crore from Rs 15,075 crore. An additional Rs 1,600 crore will go into the conventional ICE (Internal Combustion Engine) vehicles for the anticipated regulatory changes and capacity expansion, the company said. Of the Rs 15,900 crore revised capex for FY22-FY24 cycle, an additional Rs 1,600 crore will go into the ICE vehicles for the anticipated regulatory changes and capacity expansion while an additional Rs 1,125 crore for the electric vehicle segment to produce vehicles with changing requirements, the automaker said in a presentation. Another Rs 500 crore has been earmarked for auto and farm investments, said the Mumbai-based company which on Friday reported an 18 per cent jump in its consolidated profit at Rs 2,637 crore in the March 2023 quarter and highest-ever annual profit of Rs 10,282 crore in FY23. The company continued to ...

New phase of capex cycle to start soon, say analysts. Top stocks to bet on

Helped by a property upcycle, analysts at Jefferies believe various government initiatives are likely to drive capex going ahead

General Atlantic to deploy up to $1 bn in new investments in India

The private equity firm manages about $71 billion of assets globally

States used Rs 82K cr of Rs 1 trillion capex support allotted in FY23

The Centre has provided 50-year, interest-free loans to states to augment their capital expenditure requirements in the past three Budgets

Centre to infuse equity in 3 OMCs after they announce capex plans: Report

OMCs, however, are concerned that equity infusion might impact their share price, market valuation and market perception

After debt resolution, Essar Oil lines up Rs 1,200-crore capex

Post implementation of its resolution plan in December 2022, the company has been making debt repayments for the last two quarters ended March 2023

Paint companies to log 10-12% growth in revenue this fiscal: Report

Continuing healthy demand from construction, real estate and automobile sectors will help the paint sector register a 10-12 per cent revenue growth this fiscal against an 18 per cent estimated rise in the just-concluded fiscal, according to a report. Volume expansion and the resultant cash generation will help paint companies maintain healthy balance sheets, which will also buffer credit profiles despite the rising capex, Crisil said in a report on Wednesday. The top five companies have announced Rs 12,000 crore capex in fiscal 2023 and 2024 on the back of Rs 7,000 crore they incurred in the previous four fiscals. New players are expected to add nearly one-third of the total existing capacity of 4.2 billion litres by fiscal 2025-end, the report added. Paint companies are likely to close FY23 with a robust 18 per cent revenue growth, primarily led by higher realisations on the back of a 6 per cent price hike during the year, along with the full impact of a 20 per cent price hike ...

Finolex Cables to invest Rs 200 cr to expand manufacturing capacity this yr

Finolex Cables, a leading manufacturer of electrical and telecommunication cables, on Wednesday announced a Rs 200-crore capex to expand its manufacturing capacity this fiscal. The Pune-based company said the Rs 200-crore capex will be deployed over the next few months to enhance the manufacturing capabilities at its Urse plant near Pune. The plant serves the solar power, automotive and optical fibre sectors. The Urse plant deploys radiation technology equipment to produce solar cables, using controlled electron e-beam technology. This will enable the company to produce high-quality solar cables and add value to the solar power industry. Apart from electrical and telecom cables, the company also manufactures lighting products, electrical wiring accessories, switchgear, fans and water heaters. It has manufacturing facilities in Pimpri and Urse as well as in Goa and Uttarakhand.

DVC raises capex by 36% to Rs 2,800 cr in FY24, plans to import coal

Damodar Valley Corporation has raised its capital expenditure target for the 2023-24 fiscal to Rs 2,800 crore, a 36 per cent increase over the previous year, to support expansion plans, a top official said on Thursday. The entity owned jointly by the Centre, West Bengal and Jharkhand governments, achieved the highest power generation in its 75 years of existence, with a nearly 6.5 per cent year-on-year rise to 43.32 billion units in 2022-23. Its sales stood at Rs 24,522 crore in the year, the official said. "Capex (capital expenditure) in the 2022-23 fiscal was 102 per cent of the target of Rs 2,055 crore. In the current financial year, the capex target is Rs 2,800 crore. The funds will be utilised in placing new expansion orders, mining and renewable energy," DVC chairman Ram Naresh Singh said. DVC has ambitious expansion plans, intending to add a total of 9,654 MW of capacity to its existing 6,700 MW from all sources, with a goal of increasing its generation capacity to ...

Reserve Bank likely to help states to analyse, frame their capex numbers

As of now, the states are handicapped because there is no format they can borrow from the centre to guide them on tracking their capex except the financial support

CPSEs achieve revised capex target of Rs 6.46 trn in FY23: Govt official

Some firms yet to provide their data for March

CMS Info Systems aims 3 times revenue of Rs 5,000-crore by FY30

It is looking to start new business lines like collection and recover services

Hindalco recalibrates capex to $4.5 bn from $8 bn, cites challenges

Hindalco's stock closed flat at Rs 403.35 apiece on the BSE on Wednesday

MOIL's output grows 6% to 1.3 MT in FY23, 14% higher capex utilised

State-owned MOIL has registered a 6 per cent rise in its manganese ore production to 13.02 lakh tonnes (LT) in 2022-23. The company also utilised 14 per cent higher capital expenditure in the financial year that ended March 31 over 2021-22, the Ministry of Steel said in a statement. MOIL Ltd recorded its second-highest production since inception, registering a 6 per cent growth to 13.02 lakh tonnes in FY23 over the previous year. During FY23, MOIL carried out its best-ever exploratory core drilling of 41,762 metres which is 2.7 times of the average exploration achieved in the last 5 years. MOIL, under the Ministry of Steel, is the largest producer of manganese ore in the country, contributing 45 per cent of the domestic production. It operates 11 mines in Maharashtra and Madhya Pradesh.

India Inc planning to increase capex, hire more in FY24: BS Poll

Most top executives appear to be upbeat about sales and profit

CPSEs spent 85% of capex target by February, says finance ministry

By comparison, CPSEs had exhausted only 79.28% of the Rs 5.95-trillion target during the same period in the previous fiscal year

States' capital budgets: Spending, classification can be variable exercise

Most of the other major states, including Gujarat, Uttar Pradesh, Karnataka, Kerala, Rajasthan, Telangana and Haryana, hew close to either extreme