(HT) India’s top consumer goods makers Hindustan Unilever (HUL) and Nestle India reported weaker fourth-quarter profits on Thursday, with HUL cutting its margin forecast amid high input costs and sluggish urban demand. A surge in the cost of living and slow wage raises in India have eroded urban consumers’ purchasing power, forcing them to cut back on buying packaged goods and pressuring earnings of consumer goods makers already reeling from high input costs. Both companies reported shrinking profit margins. Maggi instant noodles-maker Nestle India’s margin dropped to 16% from 18% in the previous year, according to a back-of-the-envelope calculation by Reuters,…
Author: Aruna Sharma
(HT) India Inc’s revenue growth will remain flat at about 5-6% in the March quarter, but profitability will widen, a domestic rating agency said on Thursday. Crisil Ratings said the operating profit margins are seen at 8%, a widening of up to 0.60%, when compared with the year-ago performance. The agency analysed over 400 companies accounting for over 50% of NSE’s market capitalisation to arrive at its estimates. Some companies, especially in the information technology sector have already announced their earnings. Improved showing by the consumer-driven sectors excluding staples will be a key contributor for the topline growth, while the…
(HT) India’s National Bank for Financing Infrastructure & Development, or NaBFID, is planning to enter the overseas credit market for the first time, and aims to raise as much as $2 billion through loans and bonds this financial year, according to people familiar with the matter. Initially, the state-owned infrastructure lender plans to raise at least $250 million through an external commercial borrowing loan with a tenor of three-to-five years, said the people, asking not to be identified because the information is private. The agency is engaging with rating companies to obtain a rating, they said. NaBFID didn’t respond to…
(HT) Days ahead of the Char Dham Yatra, the state health department has launched an extensive medical infrastructure and health initiatives along the Char Dham Yatra route this season, officials familiar with the matter said. Acting on the directives from chief minister Pushkar Singh Dhami and health minister Dhan Singh Rawat, health secretary Dr R Rajesh Kumar chaired a review meeting on Wednesday evening with chief medical officers (CMOs) from across the yatra region at the Secretariat. “To provide pilgrims with clear and easily accessible health information, a multilingual health advisory is being prepared in 13 languages. These advisories will…
(BS) Indian miner NMDC is exploring coking coal assets, key ingredient used for making iron ore and steel, in Indonesia and Australia, Chairman Amitava Mukherjee said on Thursday. India, the world’s second-largest producer of crude steel, meets 85 per cent of its coking coal requirements through imports. Australia accounts for more than half of the country’s coking coal imports. The company is looking at this as a business opportunity, Mukherjee said. “They (explorations) are in different stages of negotiations.” He did not disclose the details of these talks due to confidentiality. State-owned NMDC is India’s largest iron ore miner with…
(FE) In an attempt to accelerate underground coal mining, the government on Thursday introduced incentives such as waiving off the upfront payment and a reduction in floor revenue share for the investors. The move comes in line with the government’s goal of sustainable development and modernisation of the coal ecosystem. Underground mining is a capital- and tech-intensive activity. The share of underground mines in India’s coal production continues to be very low, despite efforts being taken to give a boost to the sector that holds tremendous potential. While the domestic coal output crossed 1 billion tonnes in FY25, the share…
(PIB) India Steel 2025 was inaugurated today at the Bombay Exhibition Centre with a dynamic Day 1 that set the tone for three days of ground breaking dialogues, collaborations, and innovations. The biennial event, jointly organized by the Ministry of Steel, Government of India, and FICCI (Federation of Indian Chambers of Commerce and Industry), has once again cemented its status as the country’s premier platform for the steel industry. The inaugural session was addressed by Hon’ble Prime Minister Shri Narendra Modi through a video message and he emphasized India’s strategic vision to enhance domestic steel production, reduce carbon emissions, and…
(HT) The escalating global trade war stoked by US tariffs may open up new business opportunities for India’s solar industry, according to local manufacturers. Steep barriers on Chinese goods and the latest round of duties targeting solar exports from four South East Asian nations hosting Chinese factories are set to squeeze China’s dominant companies out of the US solar market. That may boost India’s export prospects, especially for solar cells that the US needs to feed its growing module making capacity. Trade tensions “could prove to be a net positive for India,” said Deepesh Nanda, president of the Indian Solar…
(HT) Heat wave conditions are likely to continue over Central India and plains of northwest India until April 29, with eastern regions affected until April 26, the India Meteorological Department (IMD) has warned. Maximum temperatures are expected to rise gradually by 2-3°C across northwest and east India over the coming week, while the northeast braces for heavy rainfall until April 27. “Winds have changed to westerly and north-westerly direction so we are expecting a gradual increase in temperatures. Heat wave conditions may set in. Delhi is likely to record up to 42°C maximum temperature. Heat wave is expected over parts…
(HT) The maximum temperature in the Capital is expected to rise by two to three degrees Celsius by the weekend due to a combination of clear skies and dry westerly winds, the India Meteorological Department (IMD) said, as it issued a yellow alert for a possible heatwave on Friday and Saturday. On Wednesday, Delhi clocked a maximum of 39.6°C, which was two degrees above normal. According to forecasts, the maximum is set to be in the 40-42°C range on Friday and Saturday, officials said. “A gradual rise in temperature is expected…with the maximum possibly touching 42-43°C by Saturday,” an IMD…