Indholdsfortegnelse for 18 August 2024 i Business Today

With the Narendra Modi-led NDA government’s sharp focus on infrastructure creation, one of the sectors being keenly watched is cement. Some years ago, India’s cement industry was fragmented, barring a few large players. Then, in 2005, Swiss cement major Holcim entered by acquiring Ambuja and ACC. This made Holcim the largest player, followed by the Kumar Mangalam Birla-led UltraTech Cement. But another development—the global merger of Holcim with Lafarge of France in 2014—impacted its India operations, slowing it down considerably. Meanwhile, UltraTech decided to step on the gas and up its M&A game, acquiring assets aggressively to increase its capacity. Cut to 2022, and Gautam Adani’s Adani Group threw its hat in the cement ring by acquiring Ambuja and ACC in a $10.5-billion deal that, in one stroke, made it…

Imagine a company that started its journey in a small garage office in Delhi with a bold vision of making financial services access easy and enriching worldwide in the late 1980s and, over the next thirty plus years, grew to become a global leader in banking and financial services technology. That's the story of Nucleus Software - a tale of relentless innovation, unwavering commitment, and transformative growth. From launching India's first online ATM to managing over $1200 billion in loans worldwide today, Nucleus Software has been a beacon of excellence dedicated to the BFSI sector. At the heart of Nucleus Software is a mission to revolutionize the banking and financial services sector. Guided by visionary leadership of Mr. Vishnu R Dusad, the company has grown into a trusted partner for…

FOR STANDARD CHARTERED, India is not just a very profitable franchise; it is the third-largest contributor to the bank’s operating income. It’s also where a lot of incubation of innovative ideas happens and these innovations are not just in people’s practices, but also with customers, products, and sustainable finance. In an interview with BUSINESS TODAY, 46-year-old Tanuj Kapilashrami, Chief Strategy & Talent Officer at Standard Chartered, says the unique and special aspect of the India franchise lies in its soft power. Edited excerpts: Does Gen AI have the potential to disrupt the banking industry? Banking has always been at the forefront of technology, disrupting business and work models. This revolution, especially with Gen AI, is quite special because it democratises access to technology. It allows individuals to augment their productivity, efficiency,…

UltraTech Cement ▸ EXISTING CAPACITY 155 mtpa ▸ TARGET 200 mtpa ▸ CAPEX OUTLAY ₹32,400 crore* ▸ PRESENCE Pan-India ▸ REVENUE FOR FY24 ₹69,810 crore ▸ NET PROFIT FOR FY24 ₹7,005 crore ▸ STRATEGY Capitalise on a strong brand and grow through an organic and inorganic strategy. A sound understanding of the commodity business will stand it in good stead. A foray into paints will complement the existing cement business SOURCE COMPANY ANNOUNCEMENTS, ANNUAL REPORT, ICRA NOTE *TO INCREASE GRINDING CAPACITY BY 42.7 MTPA BY FY27 “There is a sharp focus on our supply chain management, specifically logistics operations. We must continue to optimise costs and ensure improved customer response time”K.C. JHANWAR MANAGING DIRECTOR, ULTRATECH CEMENT Ambuja Cements ▸ EXISTING CAPACITY 79 mtpa ▸ TARGET 140 mtpa ▸ CAPEX OUTLAY…

Union Budget focusses on employment, skilling, MSMEs, and the middle class Underlines commitment to fiscal consolidation, lowering debt to GDP ratio Announces special schemes and assistance for Andhra Pradesh and Bihar Pedal on capital expenditure, revenue spending also hiked Disinvestment strategy to be maintained But with just seven months of FY25 remaining, implementation will be a monitorable…

JUST AROUND FOUR years ago, the term quick commerce was unheard of, and consumers were content with their local kirana stores or the scheduled grocery delivery services provided by e-commerce giants and then-grocery players like Grofers (now Blinkit) and bigbasket. However, driven by the Covid-19 pandemic-induced lockdowns and a shift towards instant gratification, quick commerce with its promise of 10-minute deliveries has seen rapid growth. It has skyrocketed from a gross merchandise value (GMV) of a mere $0.10 billion in FY20 to an impressive $3.3 billion in FY24, per advisory firm Redseer. And that’s just the start. The total addressable market for quick commerce is $45 billion, according to investment banking firm JM Financial. That potential hasn’t gone unnoticed. Investors are flocking to this space, pouring in big money. Zepto…

KEEP THE FOCUS Sometimes you need an oasis of peace on a noisy campus to concentrate. For those occasions, get this pair of noise-cancelling headphones from Sony. Besides cutting out the din, the pair is comfortable to wear for hours because of its ergonomic design. Plus, it excels during multiple use cases—online classes, listening to lectures/podcasts, video calls for collaboration, and of course, listening to music. The touch controls are a delight to use, and the battery lasts for 40 hours with noise cancellation on. Available on: sony.co.in BALANCED POWER A capable and lightweight laptop on campus can make life a breeze; add battery life to the mix, and you have a winner. This 15.6-inch OLED laptop from ASUS offers a balance between processing and battery efficiency thanks to its Intel…

ZORAWAR, THE INDIGENOUS LIGHT TANK JOINTLY DEVELOPED BY DRDO AND L&T IN LESS THAN TWO YEARS, IS LIKELY TO BE INDUCTED INTO THE INDIAN ARMY BY 2027, ENHANCING INDIA’S FIREPOWER, ESPECIALLY IN MOUNTAINOUS TERRAIN 25 tonnes Maximum weight of the tank being developed for deployment in the high-altitude regions of Ladakh and other border areas ₹17,500 crore Estimated cost of the 354 Zorawar tanks the Indian Army plans to procure ₹1.72 lakh crore Capital outlay for defence services in the Union Budget 2024-25—9.7% higher than the Budget allocation in 2023-24 SOURCE PIB, MAKEININDIADEFENCE.GOV.IN, CMIE ECONOMY OUTLOOK, MEDIA REPORTS.…

New asset class may give higher-risk investors access to regulated opportunities without the high minimum thresholds of PMS and AIFs Such investment options can be complex and may require substantial investor education to grasp the risks and benefits Investment strategies also include products like inverse ETFs, which will allow investors to bet on market declines New asset class could enable PMS to implement hedging and tactical strategies without directly participating in the F&O market…

“UltraTech targets production capacity of 200 mtpa to reinforce our position as one of the largest cement firms in the world”KUMAR MANGALAM BIRLA CHAIRMAN, ADITYA BIRLA GROUP, AT ULTRATECH’S 2023 ANNUAL GENERAL MEETING “Cement is an attractive and interesting adjacency for us, and we see it hitting a capacity of 140 mtpa in the next five years”GAUTAM ADANI CHAIRMAN, ADANI GROUP, AFTER ACQUIRING HOLCIM INDIA’S ASSETS IN 2022 THE UPENDING OF India’s cement market in May 2022 could have been foretold in November 2021 when Switzerland’s Holcim announced its ‘Strategy 2025’. For Holcim, the world’s largest cement producer then, there seemed nothing unusual in the catchline ‘Accelerating Green Growth’ since making cement is a dirty business carbon-wise, and green initiatives are welcome. But Holcim had figured that its India business,…

THE UNION BUDGET 2024-25 is a transformative and progressive blueprint for India’s future. Emphasising employment generation, fiscal prudence, and economic reforms, this Budget caters to all aspects of the economy and the lives and livelihoods of our people. It addresses key pillars essential for moving towards Viksit Bharat—a futuristic, inclusive, and balanced India. This visionary and growth-oriented Budget not only responds to the present day needs of the country but also aligns with Prime Minister Narendra Modi’s long-term vision of Viksit Bharat by 2047. By balancing policymaking with the judicious use of resources, the Budget builds on the foundation of the last decade, pivoting growth from one that is investment-led to one that is consumption-led. It is particularly noteworthy that the Budget has prioritised employment generation—including the doubling of the…

RISING FISCAL COMFORT INDIA’S FISCAL DEFICIT HAS DECLINED OVER THE PAST THREE YEARS, ALLOWING THE GOVERNMENT TO CREATE ASSETS RE REVISED ESTIMATES BE BUDGET ESTIMATES SOURCE CMIE ECONOMIC OUTLOOK, BUDGET DOCUMENTS ₹38.2 LAKH CRORE TOTAL BUDGETARY ALLOCATIONS FOR CAPEX IN THE PAST FIVE FINANCIAL YEARS, INCLUDING ₹11.11-LAKH CRORE IN BUDGET 2024-25 11.2 PER CENT SURGE (YOY) EXPECTED IN THE NET TAX REVENUE OF THE GOVERNMENT AT ₹25.83 LAKH CRORE (BUDGET ESTIMATES) FOR FY25 ₹59,000 CRORE WORTH OF INFRASTRUCTURE PROJECTS ANNOUNCED FOR BIHAR IN THE UNION BUDGET 2024-25 ₹15,000 CRORE ALLOCATED IN THE UNION BUDGET 2024-25 TO ANDHRA PRADESH FOR DEVELOPING THE CAPITAL CITY OF AMARAVATI SURGING TAX INFLOWS THE INCREASE IN TAX REVENUES HELPS SUPPORT THE GOVERNMENT’S DEVELOPMENT PROGRAMMES PA IS PROVISIONAL ACTUALS SOURCE ECONOMIC SURVEY THE LION’S SHARE ROADS,…

“PEOPLE REMEMBER HOW Maruti [Suzuki India] grew after its IPO (initial public offering), so we wanted to bring that for the public investors, to be part of our journey if they wish to,” Bhavish Aggarwal, Founder of Ola Electric Mobility, said in a recent podcast, drawing a comparison to Maruti’s IPO 20 years ago. Market analysts, however, think that Ola Electric Mobility, which is hitting the capital markets soon, must reach profitability first. This will be the first public listing by a domestic electric vehicles (EV) company. The public offer, which will open from August 2-6, is a combination of a fresh issue of ₹5,500 crore and an offer for sale of up to 84.94 million equity shares by the promoters and investors. The company will raise up to ₹6,146…

THE JUNE 2024 (Q1FY25) quarter results of information technology (IT) majors, which have been going through a rough patch in recent times, indicate no major change in the demand environment amid the ongoing macro uncertainties. However, there are some signs of improvement, such as strong order books, successful client acquisitions, and positive commentary from the IT majors. “The earnings of the IT sector so far have been mixed on revenue growth, but on the positive side, most companies indicated green shoots in their expenditures on discretionary projects as well as some large verticals like BFSI,” says Meeta Shetty, Fund Manager at Tata Asset Management. In Q1FY25, IT behemoth Tata Consultancy Services (TCS) registered an 8.72% year-on-year (YoY) increase in its consolidated net profit of ₹12,040 crore, while reporting a decline…

1 Holcim entered India in 2005 through the acquisitions of Ambuja and ACC, making it the largest player, followed by UltraTech Cement 2 Lafarge and Holcim merged globally. The restructuring slowed down Holcim in India, leading to limited organic growth and no buyouts 3 UltraTech then entered the M&A game and quickly acquired assets, boosting capacity and market share 4 The Adani Group bought over Holcim India’s assets in 2022 for $10.5 billion 5 Since then, there has been a frenetic M&A race between Ambuja Cements and UltraTech, with the South in focus…

INDIA IS ON an exciting journey towards achieving the vision of ‘Viksit Bharat’ which focusses on inclusive and sustainable growth. This initiative aligns with the current socio-economic agenda, emphasising key areas like employment, rural development, and infrastructure improvement. As India aims to become a $10-trillion economy by 2035, prioritising inclusive policies and sustainable practices is essential for creating a balanced development path that uplifts marginalised communities while promoting overall economic progress. EMPOWERING RURAL INDIA Empowering rural India is a central theme in the recent Budget, with an allocation of ₹2.66 lakh crore dedicated to rural development, including rural infrastructure projects. By improving roads, electricity, and communication networks, the government aims to create a thriving environment for economic activities in rural areas. This initiative will generate significant employment opportunities, improve living…

In early April, Kolkata-based cocktail bar AMPM organised a Spring Tea Trail aimed at showcasing the rich cultural heritage of the Himalayan region around North Bengal and crafting a foraging experience to curate a cocktail event at 4,800 ft above sea level. The team, along with a few guests, had the opportunity to visit the Glenburn Tea Estate in Darjeeling, where, under the able guidance of the Bacardi team, they learnt the art of infusing gin with various herbs, spices, and tea to create unique and flavourful cocktails. Back home in Kolkata, the bar launched a menu with four cocktails inspired by the trip. Tea can add complexity to a cocktail in a way that only a few other ingredients can. From green, oolong, and black tea to chai and…