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Business Standard
12 hours ago
- Business
- Business Standard
Suzlon Energy allots Equity Shares
Under ESOPSuzlon Energy has approved allotment of 36,44,500 fully paid-up equity shares of the Company having a face value of Rs.2/- each aggregating to Rs.3,30,95,500/- for cash at a premium in dematerialised form to the option grantees, pursuant to the exercise of the options granted to the eligible employees of the Company and its subsidiaries under ESOP by Capital Market - Live News
Time of India
5 days ago
- Business
- Time of India
Cement stocks set to rise due to these four reasons
March quarter tailwinds Academy Empower your mind, elevate your skills Mid-to-long term view Birla Corporation The company reported an excellent performance in the March 2025 quarter, with revenue and net profit exceeding Reuters-Refinitiv estimates by 5% and 92% respectively. While the volumes jumped 17%, realisations registered 7% growth on a sequential basis. This, coupled with cost optimisation measures, aided EBITDA, which grew 115% quarter-on-quarter. The capex plan of Rs.4,340 crore is aimed at increasing grinding and clinker capacity, which will increase production capacity from 20 MMT (million metric tons) currently to 27.6 MMT by 2028-29. The funding of capex will be through internal accruals, which will restrict the expansion of net debt. The management has guided that the net debt to EBITDA ratio shall remain below 2 for the next two years. An Elara Capital report says that the company's limited presence in the surplus market of south India, continued incentive income, focus on premiumisation, and savings from coal mines bode well for long-term performance. Dalmia Bharat Aided by lower costs and operating leverage benefits, the firm posted a decent operating performance despite muted revenue growth. While revenue missed Reuters-Refinitiv estimates by 4.7%, net profit exceeded estimates by 40%. Decline in volumes impacted revenue growth, whereas higher other income and lower than expected depreciation boosted net profit. The management is strengthening the dealer network and distribution channels as well as investing in brand building. It anticipates demand recovery in 2025-26, led by increased government spending and pent-up demand. The planned capex of around Rs.3,500 crore for 2025-26 is marked for expansion projects in Karnataka and Maharashtra. The company¡¦s capacity is lower than its peers and capacity expansion plans will address such concerns to some extent. A Motilal Oswal report says that Dalmia Bharat is among the low-cost producers in the cement industry, backed by a higher blending ratio (the proportion of different materials used to produce cement), green power share, and lower freight costs. Moreover, the recent price hikes in its core markets may help improve margins. It reported a strong performance in the March 2025 quarter, aided by volume growth and lower operating costs. Revenue and net profit surpassed Reuters-Refinitiv estimates by 9.1% and 10.3%, respectively. Market share gains in the central India region boosted volumes, which grew 16% year-on-year. On the other hand, reduction in pet coke prices and operating leverage gains led to cost reduction. The ongoing capacity expansion plans will boost production capacity from 24.3 MMT in 2024-25 to 30.3 MMT in 2025-26. The company¡¦s ability to generate strong operating cash flows will help limit the expansion of net debt. An Elara Capital report says that JK Cement is well-positioned for healthy volume growth, aided by a strong pipeline of ongoing capacity expansion projects. It lists steady price trend in north India, cost-saving measures, and its plans to enter the high-margin Kashmir market as the key growth catalysts. The company met the revenue estimates compiled by Reuters-Refinitiv in the March 2025 quarter, aided by decent volume growth and modest realisations. Decline in operating costs (including raw materials, power, and fuel) and increase in green power mix supported EBITDA, which grew by 12% year-on-year. The management has announced a capex plan of Rs.1,500 crore, aiming for efficiency projects in India Cements and Kesoram Industries (acquired companies). Such projects are expected to aid overall profitability in the future. While the company¡¦s net debt swelled due to acquisitions, the ability to generate strong operating cash flows will help reduce net debt over the next two years. A Systematix report maintains a positive outlook on the company¡¦s long-term growth potential, driven by its strong market leadership, disciplined cost management, and ambitious capacity expansion plans. The firm's focus on deleveraging and integration of recently acquired assets are other positives. Ambuja Cements It reported a strong operating performance in the March 2025 quarter, aided by volume growth and better realisation. Revenue surpassed Reuters-Refinitiv estimates by 2.5%. While volume growth of 13% year-on-year was aided by the ramp-up of acquired assets (Sanghi Industries and Penna Cement), cost efficiencies and sequential decline in raw materials and fuel costs supported EBITDA, which grew by 110% quarter-on-quarter. The management has reiterated its cost reduction guidance of Rs 500 per ton by 2027-28 by increasing the share of green power and long-term supplier agreements. A Prabhudas Lilladher report expects the company to keep gaining market share, aided by the ramping up of Penna/Sanghi assets. Moreover, the gradual improvement in the green power mix and targeted synergy benefits will support EBITDA growth over the next few years. After a weak first half in 2024-25, cement companies saw improved volumes and revenues in the March 2025 quarter. Data from Reuters-Refinitiv covering 27 cement firms (with market capitalisation of over Rs.500 crore) shows aggregate revenue rising 11% year-on-year, from 4.4% in the December 2024 the first half of 2024-25, the sector's performance was affected by the general elections, extreme heatwave, and labour shortages. Muted demand also pressured prices and realisations, weakening concerns are evident in share price performance. Over the past year, the group of 27 companies delivered an equal-weighted average return of -4.8%, lagging the Nifty 500's 7% gain. Sixteen stocks posted negative returns, and 19 underperformed the index. Returns are as of 10 June like pent-up demand, increased government spending, revival in rural demand, a low base, and selective price hikes aided the performance in the March 2025 quarter. However, despite stability in prices, the realisations for most companies declined on a year-on-year basis due to market resistance and year-end demand triggers, lower operational expenses—especially power and fuel costs supported by stable pet coke and diesel prices—drove a sequential improvement in EBITDA margins. Margins improved for 21 of the 27 companies in the March 2025 quarter compared to the three months ended December revival of construction activities across key markets led to a sharp jump in the cement prices in April 2025. Though the increase in prices moderated in May, the current prices are the highest in the past 15-17 months. In the first two months of 2025-26, all India average prices have jumped by 7-8% year-on-year, according to data compiled from a JM Financial saw the sharpest sequential rise in the southern and eastern regions, while remaining largely flat elsewhere. The price hikes, along with cost efficiencies, are expected to support cement companies' financial performance in the June 2025 Elara Capital and JM Financial flagged near-term concerns due to an early monsoon potentially curbing demand growth, reports from Axis Securities, Centrum Broking, PhillipCapital, Nuvama, Systematix, Prabhudas Lilladher, and ICRA remain constructive on the sector's long-term growth prospects. The ICRA report expects cement volumes to grow by 6-7% year-on-year, backed by demand from the housing and infrastructure in residential and commercial real estate, recovery in rural spending, and increased urbanisation are the factors driving cement demand. Moreover, government investments in infrastructure and programmes such as the Smart Cities Mission, Bharatmala Pariyojana, PM GatiShakti, and Housing for All will provide additional support to the the adoption of green technologies by cement companies (waste heat recovery, alternative fuels etc) is expected to support margins by imparting cost of efficiencies. In addition, the ongoing capacity expansion by key players will boost industry volumes. A Centrum Broking report says that the industry will see additional organic capacity additions over the next 2-3 years and that it expects the industry's capacity utilisation levels to increase from 74% to 77%. Here are the five cement companies with decent analyst coverage and with good buy ratings.
Time of India
5 days ago
- Business
- Time of India
Your credit card can take you places: Turn everyday spending into free flights and luxury hotel stays
Perks and points Lifestyle cards take the cake Over a decade ago, when I was still courting my (then) future wife, I shared a mantra with her that I followed. As a road warrior, the most points I was earning wasn't by flying, but by using the right credit card s for my spending. I advised her to do the same. As Indians, we are raised to be wary of credit. 'Credit card' is a bad term as people equate it with losing self-control and going on a spending binge with no money to pay dues. However, if you resist that urge, credit cards can be the best way to earn points for travel. By replacing cash or UPI spends with credit cards, you spend the same amount of money, but get rewards in the process, and some form of purchase protection, which makes it a better form of spending money for programmes often join hands with card issuers to bring out co-branded credit cards, which provide users with perks as well as points on spending— but only with the loyalty programme they 'co-brand' with. Jet Airways and Vistara used to run very successful co-branded credit cards. Now, all eyes are on Air India and IndiGo to launch their cobranded credit cards, where spending gives airmiles that can be used for future India has witnessed the launch of hotel co-branded cards. Marriott and HDFC Bank offer one that costs Rs.3,000 in annual fees, allowing a free night's stay at Marriott hotels the world over and redemption of up to 15,000 points. The cash value of the stay could be as low as Rs.10,000 and all the way up to Rs.20,000. So it is a handsome investment. On the other hand, the HSBC Taj Credit Card costs Rs.1,10,000 a month, but provides access to the Taj Chambers, free meals, and complimentary stays at Taj Hotels and Palaces across airlines, too, have been making a beeline to launch their credit cards in India, though they mostly target existing members of their loyalty programmes. Etihad and Singapore Airlines offer co-branded cards with SBI Cards; Qatar Airways and British Airways with IndusInd Bank; Emirates with ICICI Bank; and Lufthansa with Axis Bank . These cards turn your daily spends into miles, which can supplement the airmiles you earn by flying with the respective credit cards are premium options that may soon take over as the largest generator of points, which can be redeemed as airmiles or hotel rewards. Back in the day, Citi and American Express offered customers the option to transfer points to various loyalty programmes. HDFC Bank , which became the exclusive partner of Diners Club in India, joined in as well, with all firms using their international contracts to offer this 2022, Axis Bank introduced conversion of points from its EDGE Rewards/EDGE Miles accounts to 20 different airlines and hotel partners. Among the cards with this facility, Magnus for Burgundy, Atlas, and Olympus provide very attractive conversion ratios. HDFC Bank launched a similar offering for its Infinia and Diners Club Black cardholders. HSBC, too, has started conversion of points this year to over 20 airline and hotel cards are a better way to earn and spend rewards as you can move the points around depending on your use case. For instance, if you need to fly for a meeting in Japan, you may transfer your points to Japan Airlines for redemption and booking tickets. But if you wanted to fly to the US, you could transfer points with Air India, Air Canada and many other carriers for the same process. HDFC Bank also has the Smartbuy website, where you can use points for revenue ticket redemptions for up to 70% of the ticket most people don't travel daily, but continue to spend money on a regular basis. So, if you get the right credit cards, you can use them to convert reward points into subsidised travel on an ongoing basis. This is what I call having your cake and eating it too!The author is founder of and loyalty programme consultant.
Indian Express
11-06-2025
- Automotive
- Indian Express
Highest package, Dubai placement on cards: Three from Govt Polytechnic Nagpur secure Rs 12.72 lakh package after engg diploma
In a first, three Diploma students from government polytechnic, Nagpur have secured an annual package of Rs.12.72 lakh by Voltas limited. All three of them, including one girl, are students of Diploma in Mechanical Engineering and will be placed as technicians outside of India, most probably in Dubai. Calling it to be 'historic placement record by any polytechnic' Dr. Vinod Mohitkar, Director at the DTE said, 'This proves that diploma students with quality education can also bag high-paying jobs with skill-oriented and industry-relevant training. This development is opening major opportunities for rural students through diploma education. Industry is looking for relevant talent having focused training.' According to Mohitakar, on an average, Diploma students from Polytechnic get approximately Rs.3 lakh per annum. And the Government Polytechnic in Nagpur has been one of those institutes which have shown good placements for their students for the past few years. This polytechnic also allows other institutes from nearby localities to participate in placements. Principal of the government Polytechnic in Nagpur Dr. Rajendra Mogare, emphasized the importance of the strong existence of Training and Placement Office (TPO) at their institute for effective relations with potential recruiters. 'Additionally, thanks to DTE, in the past few years, various changes have been brought to the curriculum of Diploma in engineering to make our students ready to work in industry. Irrespective of the branch of Diploma a student is pursuing, they are given knowledge of artificial intelligence. Furthermore, we have a Centre for Excellence at our institute where real-time industry projects are worked upon allowing a great exposure to our students,' said Mogare adding that out of approximately 600 students from the institute 582 participated for placements and all of them were placed successfully. 'Students have bagged pay-packages in range from Rs.1.82lakh to Rs.3.3lakh per annum. These three students bagged the highest pay-package offered. After taking additional training by the company in thier Mumbai office for a few days, these students will then head to Dubai for jobs. The company required trained mechanics who have all new-age skills,' said Mogare. The Government Polytechnic in Nagpur also has a unique tie-up with companies such as Tata Motors and Wipro wherein select students from their institute are hired by these companies and get to pursue engineering degree in relevant branches at a reputed engineering institute.
Business Recorder
11-06-2025
- Business
- Business Recorder
Pakistan govt offers tax relief, cuts rates for salaried class
ISLAMABAD: The government has announced substantial tax relief measure in the federal budget (2025-26) for salaried class taxpayers, and reduced tax rates across all income slabs for salaried individuals, aiming to provide much-needed financial respite amid economic challenges. Tax rates for salaried individuals for income slab upto Rs.3,200,000 has been reduced to provide relief to lower and middle tiers income bracket. Similarly, surcharge rate is proposed to be reduced from 10% to 9% for salaried individuals only. The Finance Bill (2025-26) introduced a revised tax structure for salaried individuals, significantly lowering tax rates and amounts across various income brackets. Federal budget 2025-26: Cut in taxation rates for salaried people likely Income between Rs600,000 and Rs1.2 million: The tax rate has been set at 1%, with the tax liability on an income of Rs1.2 million reduced from Rs30,000 to Rs6,000. Income between Rs1.2 million and Rs2.2 million: The 15% tax rate imposed on annual income between Rs1.2 million and Rs2.2 million has been reduced by 4%. The new tax is set at 11%. This means, an employee earning up to Rs 2.2 million, who used to pay a maximum of Rs330,000 annually in tax, will now pay Rs242,000. Income between Rs2.2 million and Rs3.2 million: The tax rate has been lowered from 25% to 23%, providing relief to higher-earning salaried individuals. An employee earning up to Rs2.2 million, whose maximum tax was previously Rs550,000 per year, will now have Rs506,000 deducted annually. These reductions across all tax slabs reflect the government's commitment to supporting the salaried class, which has faced significant economic pressures due to inflation and rising living costs. When contacted, tax lawyer Waheed Shahzad Butt informed that salaried individuals, earning between Rs600,000 and Rs1.2 million annually, will get the largest relief as the Pakistan government proposed a one percent tax rate from the earlier five percent. The proposal means that individuals earning Rs1.2 million will pay Rs6,000 in taxes, down from Rs30,000. Additionally, the Pakistan government has proposed 11 percent income tax on taxpayers earning up to Rs2.2 million annually, a sharp four percent decline from the earlier 15 percent. Copyright Business Recorder, 2025
