Sruthi Thomas News Today

Robust growth bolstered by private capex over the next few years could push the profit cycle to historical peak and beyond, but near-term may remain volatile

Indias corporate capex spending is rising due to rising cash flows and improving balance sheets, with three out of four companies from a sample of 373 of the S&P BSE 500 index reporting year-on-year improvement in gross fixed assets for FY23. Mainly oil and gas, metals and power firms form a major part of incremental GFA.

India Inc is gradually stepping up capital expenditure, buoyed by improving balance sheets and rising cash flows, an ETIG analysis shows.

Tata Motors market share for medium and heavy commercial vehicles in India dropped to a 10-year low in Q1 FY24, according to data from SIAM. The companys market share fell to 44%, down 560 basis points from the previous year. While bus volumes rose 42%, sales of goods vehicles fell 1.5%. The preference for higher tonnage commercial vehicles has impacted Tata Motors, a key player in the light and small commercial vehicle categories. In contrast, Volvo Eicher Commercial Vehicles and Ashok Leyland ...

According to ICRA, total investments made by the CV industry were estimated at nearly Rs 3,200 to Rs 3,500 crore during last fiscal, and a similar amount is expected for FY24 as well

India Inc's operating profit margin narrowed by a sharp 2.37 per cent in the December quarter to 16.3 per cent on an annual basis due to inflation and rising energy costs, ratings agency Icra said today.

Despite the fact that it was a seasonally strong quarter due to the holiday season, sequential revenue growth was relatively muted due to inflationary headwinds weighing on consumer sentiments and an uneven sectoral trend

The interest coverage ratio for the agencys sample adjusted for sectors with relatively low debt levels like IT, FMCG and pharma witnessed a moderation in Q3FY23 to 4.3 times from 5.1 times on a sequential basis.

India Incs profit margin has narrowed in Dec quarter on high inflation, say Icra

Margin compression was attributed to the supply chain disruptions triggered by the war in Ukraine.