Wheels India net more than doubles to ₹21 cr.
The Hindu
Firm raises capex on export demand
Wheels India Ltd. (WIL) has scaled up capital expenditure plans for the current fiscal by 37% to ₹136 crore to help service strong export demand, after the company reported profit more than doubled last quarter.
“We have seen six continuous quarters of growth in exports; this trend... in exports is likely to continue,” said Srivats Ram, MD.
“Our exports [now] constitute 25% of total sales. We expect it to inch towards 30% by the end of the current fiscal. Demand outlook for exports and domestic markets is broadly positive,” he added. The auto parts maker had in March pegged capital expenditure at ₹99 crore; this was raised due to a rise in global demand in the construction equipment and windmill segments.
RBI Governor Shaktikanta Das admitted to hospital for monitoring, no official information available yet.
Fitch puts Adani Group bonds on watch for downgrade after U.S. bribery charges, impacting financial stability and investments.
Google is fighting to beat back another attack by the U.S. Department of Justice alleging monopolistic conduct in its ad tech.
Meta will face trial in April over the U.S. Federal Trade Commission’s allegations that the social media platform bought Instagram and WhatsApp to crush emerging competition.
HUL shareholders to receive shares in new ice cream business entity, subject to approvals, maximizing value for all.
Vedanta launches $500 million bond issue post-Adani crisis, with Citigroup, JPMorgan, Deutsche Bank declining to comment.
USFDA reports Dr Reddy's and Lupin Pharmaceuticals recalling products in the US due to manufacturing issues.
EPF inoperative accounts rise to ₹8,505.23 crore in 2023-24, EPFO to return funds to beneficiaries, awareness campaigns planned.
S&P Global Ratings revises India's economic growth forecast due to high interest rates and lower fiscal impulse.
Indraprastha Gas Ltd raises CNG prices in select cities, while MGL hikes rates in Mumbai post-elections.
Adani group stocks surge on BSE, NSE; clarifies on Kenya deals amid bribery charges, airport project cancellation.