Search Result for : Capex

The Dollar Business Bureau The Goods and Services Tax (GST) will have adverse impact on the oil and gas sector as it will have to conform to the current tax regime as well as to GST, the ICRA-ASSOCHAM report said. The GST regime is expected to be rolled out from July 1, 2017. The next meet of GST Council is to be held on June 18, in which it will decide upon the lottery tax and e-way bill. “The oil and gas industry would have to comply with both the current tax regime as well as the GST regime leading to double compliance cost because five petroleum products viz crude oil, natural gas, motor spirit, high-speed diesel and aviation turbine fuel have been excluded from the GST, while other ...

The Dollar Business Bureau With overseas business making up 70 per cent of Tata group's revenue, Chairman Cyrus Mistry remains optimistic about acquisitions -- both within and outside India -- as also growth through the organic route. He wants his companies to have speed and agility to adapt to "turbulent times". Each of the group companies is charting its own strategy and growth story, with a focus on sustainable and profitable growth, Mistry asserted. "We continue to remain open to growth opportunities in India and overseas, through the organic route and acquisitions," he said. The group invested Rs 4,15,000 crore (USD 79 billion) in capex over the last decade. Of this, Rs 1,70,000 crore (USD 28 billion) was invested in the last three years alone. In ...

The Dollar Business Bureau Apparel Export Promotion Council of India is hoping for Rs.5,000 crore investments to be flown in the apparel industry in current fiscal. The investments may create over two million job opportunities. Terming the recently announced Rs.6,000 crore booster package by government as ‘game changer,’ AEPC Chairman Ashok Rajani stated that the industry may see Rs.5,000 crore capex in near future. The apparel sector hasn’t witnessed any major investments over the years. The additional investment has capacity to give way to two million jobseekers. Ashok Rajani added that the move may almost double the capital subsidy to 25% of investment. Speaking on the target set by the government to create 10 million jobs and earn $30 billion through exports by 2020, Rajani ...

The Dollar Business Bureau Vedanta Resources has planned to invest $500 million in its zinc business. The investment amount is about half of the total capex for the current fiscal 2016-17. The company led by Anil Agarwal is one of the largest integrated zinc-lead producers. Their output during the financial year 2015-16 was 1,115- kilo tonnes (KT). In its annual report, Vedanta Resources said, “Going forward, our current requirements are low, with 2016-17 capex expected to be around $1 billion, half of which would be across the high-return zinc projects at Gamsberg and Zinc India.” The firms said that its capex was optimized to a reduced level of $600 million in 2015-16. A majority of this was invested in projects like Mangala EOR ...

The Dollar Business Bureau Essar Oil UK Ltd, a wholly owned subsidiary of Essar Energy Ltd, said it will focus on fuel retailing in the UK by opening 400 more outlets. The decision comes after the company recorded a net profit of $244 million in financial year 2015-16, its highest-ever and a three-fold jump from $70 million during the previous year. Currently, Essar Oil UK manages seven retail outlets and said that its retailing expansion plan is a part of its strategy to further enhance its margins. While speaking to journalists, Naresh Nayyar, Executive Chairman, Essar Oil UK, said, "Retail sales can help us in pushing our refined fuel margins by $2-3 a barrel, as the company can benefit on the commissions of ...

Source: PTI Vedanta Resources on Friday said it has reduced capital and operating expenditures in the July- September quarter as the mining conglomerate tries to tackle volatile market conditions as well as subdued metal prices globally. Billionaire Anil Agarwal-led mining giant said market conditions are expected to remain “challenging in the short term”. Presenting its production figures for the second quarter of 2015-16, Vedanta Resources Group CEO Tom Albanese said: “We are continuing to drive efficiency improvements and optimise opex and capex across the business. “While the near-term market outlook is challenging, we believe we have the right mix of commodities to benefit from future demand in India and globally.” He added however that the Group's diversified asset portfolio has delivered ...

Source: PTI IHH Healthcare Berhad, a Malaysian healthcare provider, has signed a definitive agreement to acquire a 73.4% stake in Hyderabad-based GE Medical Associates Private that runs Global Hospitals, for Rs.1,284 crore. According to a release issued by IHH, pending necessary approvals and satisfaction of certain conditions, the deal is expected to close within 3 months. As part of this transaction, IHH will use Rs.265 crore to fund the hospital chain’s capex requirements and optimise its current cost of borrowing. Founded in 1999, Global Hospitals operates a chain of five hospitals – supported by three feeder centres – with approximately 1,100 operational beds in Hyderabad, Bangalore, Chennai and Mumbai. The number of operational beds is expected to go up to approximately 1,900 ...