Page 8 - Capex

Recalibrating spend

RBI paper redefines the capex-revenue debate

Hindalco Industries subsidiary Novelis files draft papers for US IPO

Novelis will not receive any proceeds from share sale

India Inc must get its act together on capex: RBI's state of economy report

Unsecured loans rise despite higher risk weighting

Cairn to double annual capital expenditure to $1 billion for 5 years

The oil and gas major plans to kick-start 12 projects in the country in FY25

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

Nifty hits new high as winning streak extends to 5th day; Sensex up 282 pts

Sensex still 620 points shy of record close; India market cap nears Rs 400 trillion

Bidding pipeline in West Asia remains very strong: Larsen & Toubro

Analysts tracking L&T noted the company was an L1 bidder for a $2.5 billion contract related to this expansion project

Emphasis on capex is the highlight of Interim Budget: FM Sitharaman

She also informed the Rajya Sabha that the unemployment rate in rural areas has decreased from 5.3 per cent in 2017 to 2.4 per cent in 2023

High capex, railway corridors, focus on seafood to boost India's exports

Announcements of measures in the interim Budget such as high capex, three major economic railway corridors, and a target to increase seafood exports would help boost the country's overall outbound shipments, exporters say. The government has proposed to step up the implementation of Pradhan Mantri Matsya Sampada Yojana (PMMSY) by enhancing aquaculture productivity from existing 3 tonne to 5 tonne per hectare, and setting up five integrated aqua parks. CII National Committee on Exports and Imports Chairman Sanjay Budhia said that the announcement of a Rs 1 lakh crore corpus for innovation with a 50-year interest-free loan for long-term financing, refinancing at no or nil interest rates will encourage the private sector to scale up R&D and innovation in sunrise domains and new age technologies. "There is a reinforcement of continued thrust on exports. Announcement of three economic corridors, multi-modal connectivity, emphasis on additional airports, etc. and doubling the target of .

Mukesh Ambani to Gautam Adani: Big guns firing on the capex front

In the Interim Budget speech on Thursday, Union Finance Minister Nirmala Sitharaman said "private investments are happening at scale"

SAIL's IISCO steel plant may infuse Rs 20,000-24,000 cr in Bengal

Steel Authority of India Ltd (SAIL) may invest Rs 20,000-24,000 crore in setting up a four-million-tonne greenfield steel plant at its IISCO plant in West Bengal, officials said. It plans to produce high-end flat hot rolled coil (HRC), including for automotive applications, at its existing site at Burnpur and has received in-principle approval, they added. "We have received in-principle approval for the greenfield plant which will produce flat HR coils, targeting grades like API (American Petroleum Institute) and automotive among others," IISCO steel plant director-in-charge Brijendra Pratap Singh told PTI. "Board approval is still awaited, but expected shortly," he said. Singh added that the exact capex and investment details would be finalised after the tendering process. After numerous delays and discussions regarding potential foreign partners for a joint venture, SAIL has finally decided to undertake the flat steel expansion project independently, likely relying on imported .

Interim Budget 2024: 'Prudence has taken precedence over populism'

Backed by robust collections in both direct and indirect taxes and a growing domestic demand, the finance minister asserted a strong commitment to pursuing the path of fiscal consolidation

Decadal perspective of Modi govt: Crowding in private investments

Though better than before, cost overruns remain a concern. Higher allocations for capital expenditure in FY25 despite the emphasis on prudence

Interim Budget 2024-25: Infrastructure likely to get a capex thrust

Increase in outlay in line with industry expectations

Interim Budget: FM sticks to fiscal consolidation path in Budget speech

Interim Budget: FM Sitharaman said that the fiscal deficit in 2023-24 is expected to be 5.8%, lower than the earlier estimates of 5.9%

Govt spending must pursue evidence-based policy for best outcomes

It's important to see the quality of spending and missing gaps in resource provision

Interim Budget to reduce fiscal deficit, focus on capex, suggests poll

The government is aiming to narrow the fiscal deficit to 4.50 per cent of GDP by the end of the 2025-26 fiscal year (FY) from 5.90 per cent in the current year to end-March 2024

Budget 2024: Centre may increase FY25 capex target for CPSEs by 12-13%

The government aims to propel economic growth with a higher capital expenditure target for central public sector enterprises (CPSEs) in the upcoming financial year

Supreme Industries Q3 results: Profit rises 22% to Rs 256.17 crore

Plastic products maker Supreme Industries Ltd on Friday reported an increase of 22 per cent in its consolidated net profit to Rs 256.17 crore in the third quarter ended December 2023. The company had posted a net profit of Rs 210.03 crore in the October-December period a year ago, according to a regulatory filing. Its total revenue from operations was up 6 per cent to Rs 2,449.10 crore in the October-December quarter. It was at Rs 2,310.71 crore in the corresponding period of previous fiscal. Total expenses of Supreme Industries were at Rs 2,152.66 crore, up 3.82 per cent in the December quarter. Supreme Industries' total income, which includes other income, was at Rs 2,469.81 crore, up 6.5 per cent in third quarter of current fiscal. Over the outlook, its Managing Director M P Taparia said, "The company remains optimistic for business opportunities and continues to commit more capex in line with its growth plans. "Total commitments including acquisition of business of Parvati A

Centre may peg FY25 fiscal deficit at 5.3% in interim budget: Goldman Sachs

Interim Budget 2024: The Centre will keep a focus on increasing the capital expenditure but it will most likely be at a slower pace than earlier, says Goldman Sachs