Page 16 - Capex

Asian Paints announces Rs 2,400-cr capex plans for two manufacturing units

Asian Paints on Thursday announced Rs 2,100 crore of phased investment to set up a new plant to produce vinyl acetate ethylene emulsion (VAE) and vinyl acetate monomer (VAM) in the country. The company also announced another Rs 550 crore of investment to set up a white cement plant in the UAE in partnership with two local firms there. The board has approved setting up of a manufacturing facility for VAE and VAM in the country. The company will invest around Rs 2,100 crore in the plant over the next three years, which includes the cost of land, the company informed the stock exchanges without giving other details like the location of the plant among others. The statement also said the plan is subject to entering into definitive agreements, including technology licence agreement from the US-based Kellogg Brown & Root, for manufacturing VAM and VAE and obtaining the necessary regulatory and other approvals. The proposed plant will have an installed capacity of 1 lakh tonne per annum .

Adani Enterprises to raise Rs 1,000 cr via public issue of debentures

CareEdge has assigned 'A+' to the proposed issuance of debentures. It also reaffirmed ratings for long-term bank ratings 'A+' and short-term facilities 'A1+'

Street Signs: Bank Nifty interestingly poised, 3.4x upside in IRB, and more

Engineering and capital goods companies are likely to see revenue growth momentum, led by robust order backlog and pick-up in execution

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

Telecom's share in overall capex may rise in next 5 years on 5G push

Capex of telcos in FY18-22 went up nearly two and a half times to Rs 3.45 trn

Delhi International Airport to raise up to Rs 1,600 cr via debentures

Tweaks plans to opt for Debentures as alternative to lease financing

Top Headlines: PM Gati Shakti plan, broad-based rules for PE/VCs, and more

Under a 100-trillion-rupee ($1.2 trillion) mega project called PM Gati Shakti Modi's administration is creating a digital platform that combines 16 ministries

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

Higher global borrowing costs are expected to affect growth prospects

A shift towards indigenisation: 'Make in India' fortifies defence spending

An analysis of defence capex over the past 12 years shows a noticeable shift towards indigenisation

Govt orders, private capex fuel KEC's order book by Rs 6,000 crore

The company reported Rs 23,716 crore of orderbook in the fiscal year ended March 2022, up by 18% over the previous year and plans to bid for Rs 1.1 trillion of orders, which are in the pipeline

Top Headlines: Stricter framework for FPI owners, India Inc's capex, & more

The Securities and Exchange Board of India (Sebi) is mooting a stricter framework for identifying "beneficial owners (BOs)" of foreign portfolio investment (FPI) in the country

India Inc's FY22 capex rises 9.1% YoY but lags pre-Covid growth

The rise in corporate assets, also called gross block, was largely led by top companies and industry leaders; small and medium firms lagged in capex terms

Tata Power assures quality power to industries, to invest Rs 5k cr in capex

A day after Odisha Chief Minister Naveen Patnaik appealed to investors from across the country to take advantage of the state's business ecosystem, Tata Power Discoms on Thursday announced to invest Rs 5,000 crore to ensure reliable and quality electricity supply to industries. This was stated by Tata Power's T&D, President, Sanjay Banga during an interaction with PTI here. "We are fully committed to realise the Odisha government's vision of Make in Odisha through reliable and quality power supply to industries," he said, adding that Tata Power Discoms serve 9 million customers across the state. Banga said that Tata Power Odisha Discoms will soon be in a position to provide new industrial connections in a week to 10 days' time based on availability of network . "Thus, we will be supporting the ease of doing business in the state. The company has already extended the facility of availing new service connection through WhatsApp and missed call services to its customers," he ...

India Inc hesitant to invest as doubts remain on demand recovery: Analysts

They say high commodity prices, geopolitical uncertainty, and uneven consumer demand may have prompted firms to defer capex plans

Largest Ibuprofen API maker eyes double revenue in next four years

As part of de-risking their business, they have started reducing the share of ibuprofen in their overall turnover, and add more popular products to the portfolio

Govt seeks to improve disclosures by PSUs, asks for monthly data on capex

New details such as CSR, gender-wise reporting of contractual workers, unused land, and profit share in joint venture companies have also been added in the list of disclosures

Centre's fiscal deficit at 5.2% of GDP in Q1; experts say it may widen

Expect capex to pick up in the second half of the year and inch closer to 6.4% Budget estimate for full year

Vedanta not to prune $2-bn capex target for FY23: CEO Sunil Duggal

Oil-to-metals conglomerate Vedanta Ltd on Wednesday said that it will not prune its USD 2 billion capex target for the current financial year despite falling metal prices. Vedanta has planned a total investment of around USD 2 billion in its zinc, oil and gas, and aluminium businesses in FY23. "We are going ahead (with the capex target for the current fiscal). We cannot stop the project in between and these are all the brownfield projects where the returns are very good and this will make our operation more effective, more productive, more efficient," Vedanta's Chief Executive Officer Sunil Duggal said. Duggal told reporters here on the sidelines of the second day of the conference on the Indian minerals and metals industry organised by NMDC and FICCI. The metal prices, Duggal said, have come down on account of various geopolitical events. Asked whether the metal prices will shoot up in the coming days, he replied, "If the fundamentals are strong than naturally the prices are goin

Hindalco Industries earmarks about $8-bn capex over next 5 yrs: K M Birla

Hindalco Industries Chairman Kumar Mangalam Birla on Tuesday said the company has earmarked a total capital expenditure of about USD 8 billion over the next five years in its arm Novelis and India. Novelis has found potential investment opportunities of USD 4.5 billion. Birla was speaking at the Hindalco's AGM. He said the company has identified potential investment opportunities of nearly USD 3 billion in India. Birla further said that 70 per cent of the company's consolidated cash flows will be allocated towards high-growth downstream segments , including EVs, mobility, batteries and Consumer durables. "On the back of solid financial performance and a strong balance sheet, your company is well-positioned to drive a new wave of transformational growth fuelled by organic expansion." The company plans to achieve a renewable capacity of 300 MW by FY'25, including 100 mw solar power capacity with hybrid storage.

Capex loan disbursement to states may rise to Rs 70,000 cr by Q2 end

This is lower than Finance Minister Nirmala Sitharaman's expectation Rs 1 trillion would be released by end of September