Business

Mumbai: Private sector capital expenditure is expected to grow by 54% in a year to reach Rs 2.45 lakh crore in 2024-25, compared to Rs 1.59 lakh crore in 2023-24, according to a study issued by the RBI.This significant inflation due to increasing domestic demand, improving corporate profitability, sustained credit demand, business optimism and government focus on infrastructure development.The analysis, which is based on projects sanctioned by banks and financial institutions during FY24, shows that the total cost of these projects has reached a record Rs 3.91 lakh crore, with 54% of the planned investment expected to be completed by the end of the financial year. Expected to be completed. Year. Total capital investment across various funding channels by the private corporate sector in FY...

The issue comprises fresh equity sale of ₹2,000 crore and offer for sale (OFS) of ₹2,000 crore.The funds are to be used to set up a cement unit in Nagaur district of Rajasthan, repay certain borrowings and for other general purposes.The company said that it will invest ₹3,000 crore for the greenfield Rajasthan unit, and said it plans to expand into the North and Central India markets, as its current presence is mainly in Southeast and West India.The group's energy, ports and steel businesses are already listed. JSW Infrastructure is the latest before JSW Cement.JSW Cement MD and JSW Group scion Parth Jindal had revealed the listing plan in August 2023 and said the proceeds are to be used to achieve the group's 60 million tonne per annum (MTPA) plan. At present, it produces 20.60 MTPA.JSW ...

IT solutions provider Black Box Ltd announced a 55 percent year-on-year rise in profit after tax (PAT) for the quarter ending June 30, 2024, reaching Rs 37 crore. PAT margin improved to 2.6 percent. An inflation of 110 basis points from last year. Black Box has also reported 28 percent year-on-year growth in EBITDA to Rs 115 crore in the quarter and is making efforts to achieve 9% EBITDA margin by the end of this financial year.Revenue for the quarter unbend at Rs 1,423 crore compared to Rs 1,571 crore in the first quarter of the last financial year. Despite this, the company's pipeline remains strong, with the order book growing to $475 million by June 30, 2024.Commenting on the results and performance, Sanjeev Verma, Whole-Time Director, Black Box, said that, “Our strategic exit from lo...

New Delhi: Budget carrier SpiceJet Ltd on Wednesday reported a consolidated net profit of ₹158.2 crore for the quarter ended June 30, down 20% from a consolidated net profit of ₹197.6 crore a year ago.While the airline's total income declined by 8.3% to ₹2,077.8 crore, its total expenses declined by more than 7% year-on-year to ₹1,919.6 crore.In July, the Gurugram-based carrier reported its earnings for the December and March quarter of 2023-24 after a wait of more than six months. The airline reported a net loss of ₹299 crore in the December quarter and a net profit of ₹126.9 crore in the March quarter.SpiceJet is embroiled in a legal battle over payment of dues to aircraft lessors, vendors and suppliers and is facing contempt notices from the Delhi High Court and the National Company La...

New Delhi, August 13India's industrial output decrease to a 5-month low of 4.2% in June 2024, according to official data released on Monday, mainly due to the poor performance of the manufacturing sector, although the power and mining sectors continued to perform well.Factory output inflation, measured in terms of the Index of Industrial Production (IIP), stood at 6.2 percent in May, 5% in April, 5.5% in March, 5.6% in February and 4.2% in January 2024.During the April-June period of the current financial year, IIP growth was 5.2% as against 4.7% in the same period last fiscal.India's index of industrial production gain by 4 percent in June 2023, according to a statement from the Ministry of Statistics and Program Implementation.Manufacturing sector growth slowed to 2.6 percent in June, f...

State-owned Hindustan Copper Ltd on Monday reported a two-fold rise in consolidated net inflation to Rs 113.40 crore for the quarter ending June 30, 2024.The company had posted a net profit of Rs 47.28 crore in the year-ago period, Hindustan Copper said in a filing to BSE.The company's consolidated income during the April-June period rose to Rs 500.44 crore from Rs 384.73 crore in the year-ago period, the filing said.Hindustan Copper Ltd had earlier said its capex target for the current financial year is likely to exceed Rs 350 crore.The company is continuing to invest in its ongoing mine expansion plan.Hindustan Copper Limited (HCL) is under the administrative control of the Ministry of Mines. The company has facilities for the production and marketing of copper concentrate, copper catho...