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Demand yet to improve, says FMCG major Emami

Operating margin was at 16.2% during the quarter. Last year, with total expenses exceeding sales, Trent had posted negative Ebitda (earnings before interest, tax, depreciation and amortisation).

Trent back in black with Rs 115-cr profit

Trent operates its retail business under flagship brand Westside.

By FE Bureau

August 12, 2022 3:45 am

Digital lending apps operating without either a banking or an NBFC licence, will now be either forced to shut shop or suspend operations indefinitely until they are compliant with the new regulations.

Lenders may see rise in compliance costs: Digital lending norms to make industry responsible, cautious

“Unregulated entities or a small section of the loan apps that may be rogue players will have to course correct…

By Salman SH

August 12, 2022 3:15 am

However, despite the price increases, margins will continue to remain under pressure since price hikes do not match commodity inflation and companies are forced to absorb some of the increase, lest they lose out on demand and volumes. Also, there will be some roll-over price increases, with companies continuing to hold high cost inventory.

Margins still under pressure: FMCG price hikes to stay, as firms continue to feel cost impact

Emami, the maker of Boroplus and Navratna oil, said the company took a 4-5% blended average price increase during the…

By Shubhra Tandon

August 12, 2022 3:00 am

Other bankers, who will make presentations via videoconferencing to the department of investment and public asset management (Dipam) before the opening of their financial bids on Friday, are --HDFC Bank, IIFL Securities and Axis Capital, according to official notification.

SBI Caps, Citi Group among six bankers in race to manage HZL stake sale

Bankers to make presentations to Dipam on Friday

By FE Bureau

August 12, 2022 2:30 am

Separately, the tribunal concluded that the income on which the AO sought to levy MAT, were not included in the books of accounts drawn by the Mumbai bank branch as per the Banking Regulations Act, 1949 and the question of levying MAT on these amounts did not arise.

Tax appellate tribunal ruling: FPI income not subject to MAT provisions

FPIs typically operate through a banker, broker, custodian or tax advisor in India who are independent service providers and their…

August 12, 2022 2:15 am

The consolidated order book was up 20% year-on-year to Rs 2,611 crore. Pump production increased 103% during the quarter under review.

Kirloskar Brothers profit up 31.4%

Sanjay Kirloskar, chairman and managing director, Kirloskar Brothers, said the top-line grew at a healthy pace, driven by improved product…

By FE Bureau

August 12, 2022 2:00 am

Managing director Ashwath Ram said there had been double-digit growth in demand from the real estate, pharma, biotech and data centre businesses.

Cummins India demand surges, but supply chain a constraint

In the Indian market, the road construction sector saw a drop in activity because of the monsoon, but is expected…

By FE Bureau

August 12, 2022 1:45 am

IiAS, Paytm, Paytm news, paytm latest, One 97 Communications, Vijay Shekhar Sharma, paym parent company

IiAS flags 5 resolutions of Paytm parent One 97 Communications

The advisory comes ahead of the company’s annual general meeting convened for August 19

By Rajesh Kurup

August 12, 2022 1:05 am

Operating efficiencies boosted Ebitda (earnings before interest, taxes, depreciation, and amortisation) 771% y-o-y to Rs 297.8 crore from Rs 34.2 crore.

Page Industries’ profit zooms in Q1 on strong sales

Ebitda margin was 22.2%, compared to 24%. Cash and cash equivalents rose to Rs 314.4 crore during the quarter, up…

By FE Bureau

August 12, 2022 1:00 am

The studio enables artistes to launch and partner in monetising their music on a host of platforms.

Airtel launches distribution platform for independent artistes

“The biggest challenge the pandemic created was loss of jobs, so most artistes had to connect digitally with fans. We…

By Vaishali Dar

August 12, 2022 12:15 am

Srei group, Srei group of companies, Srei, Srei news, Srei insolvency resolution

Srei creditors extend resolution plan deadline till August 19

Three bids have so far been received for the Srei group companies from New York-based investment firm Arena Investors, VFSI…

By Mithun Dasgupta

August 12, 2022 12:05 am

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Adani Group to invest Rs 57,575 crore in alumina mill in Odisha

In a press statement, the Adani Group said it will set up a 4-million tonnes a year alumina refinery near…

By PTI

Updated: August 11, 2022 9:58 pm

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The sums of money to be channelised for this transition are very significant as a proportion of India’s current and projected GDP.

Getting green-finance right

This is the US’s most ambitious effort ever to address climate change—it is good for India and the world, and it deserves to be lauded.

The US reclaims its seat at the climate table

India is confident of having a deal with the UK despite political uncertainties in that country, with a new prime minister in office by early September.

India Inc’s FTA fondness

While large companies benefited, small industries continue to remain vulnerable on interest coverage despite various measures taken by the government and the Reserve Bank of India, such as the Emergency Credit Line Guarantee Scheme.

Data Drive: Keeping the debt date

Currently, around 0.35 million hectare (MH) is under palm plantation. Under the mission launched last year, an additional area of 0.65 MH will be brought into palm plantations by 2025-26.

Govt plans to reduce import dependence on palm oil by 25-30%

In May, the government had mandated GAIL to procure and mix LNG in the CGD pool and supply the same at uniform base price to all CGD entities. This pooled price for August came to $10.5 per mmBtu. In comparison, the gas from regulated fields of ONGC is priced at $6.1 per mmBtu.

CGD players may cut prices as APM gas supply hiked

While it will leave trusts sponsored by private sector out of its investment ambit, up to 5% of its fresh accretions might go to AAA-rated PSU-sponsored issues, sources said.

EPFO to start investing in InvITs & REITs, leave out pvt-sector trusts

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