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<keyword id="6378916" type="General" weightage="100" keywordseo="cement" source="Orion">Cement</keyword> companies are planning to hike the price between Rs 10 and Rs 30 per bag in November after a increase of about Rs 3-4/bag last month, said <keyword id="141615" type="General" weightage="80" keywordseo="emkay-global" source="Orion">Emkay Global</keyword> Financial Services Ltd. Emkay Global in a recent sectoral report said the average pan-India cement price increase was about Rs.3-4/bag in October 2022. On a month-on-month (MoM) basis, prices rose by 2-3 per cent in the East and South, and about one per cent in the West; while declining 1-2 per cent in the northern and central regions, the report said. "Cement companies are attempting price hikes of Rs10-30/bag across regions in November 22. Absorption of these price hikes will be uncovered over the next few days," said Emkay Global. Industry volumes likely to have declined by a high single-digit YoY and a low double-digit MoM, in October 22, owing to a high base, as the festive season was spread across October-November last year. According to the report, a delayed exit of monsoons and labour shortage owing to festive holidays impacted demand in October 22. The demand is expected to improve in upcoming weeks, with all major festivals ending and given the onset of a busy construction season. The cost pressure is expected to ease in coming quarters for the industry players and the industry margins are expected to bottom out in Q2, with peaking of costs, higher exit of cement prices and pick-up in construction activities in coming quarters, said Emkay Global. The international petcoke prices are down by about 30 per cent from the peak of $195/tonne. Further the dip in the fuel prices are expected to provide cost savings of at least Rs 150-200/tonne from Q3FY23, Emkay Global said. SEE ALSO: <a href="https://www.businessinsider.in/science/health/news/myositis-the-condition-affecting-actress-samantha-prabhu-is-more-common-among-adult-women-say-doctors/articleshow/95304784.cms">Myositis – the condition affecting actress Samantha Prabhu – is more common among adult women, say doctors</a> <a href="https://www.businessinsider.in/india/news/delhi-pollution-air-quality-severe-for-3rd-straight-day-noida-records-529-aqi-gurugram-at-478/articleshow/95313876.cms">Delhi pollution: Air quality 'severe' for 3rd straight day; Noida records 529 AQI, Gurugram at 478</a> <a href="https://www.businessinsider.in/business/corporates/news/kv-kamath-appointed-independent-director-of-reliance-industries-jio-financial-services/articleshow/95313728.cms">KV Kamath appointed independent director of Reliance Industries, Jio Financial Services</a>

Cement companies plan price hike of ₹10-30 per bag

The power generation in first two months of the second quarter of current financial year rose marginally by 1.5 per cent on-year due to heavy rainfall during these months, <keyword id="105309" type="General" weightage="50" keywordseo="emkay-global-financial-services" source="Orion">Emkay Global Financial Services</keyword> said in a report. This was sharply lower than 16 per cent growth in the first quarter of the current financial year, which had the impact of low base due to Covid-19. August generation has been less than 1 per cent. On a 3-year CAGR basis, growth for the two months has been 3.5-5 per cent. "A closer look into the electricity demand pattern suggests that heavy rains during July-August 2022 (up 30 per cent <keyword id="63194" type="General" weightage="80" keywordseo="yoy" source="Orion">YoY</keyword>) might be the main reason for the same. Both residential and agricultural demand has high corelation to weather conditions. As the rainy season recedes, we believe growth in power demand will normalize to the medium-term figure of ~5 per cent," the report said. <keyword id="209265" type="General" weightage="50" keywordseo="hydro" source="Orion">Hydro</keyword> growth has been strong at 10 per cent, while Thermal and RE growth stood flat to moderate at 2 per cent. While, coal production reported 11.4 per cent and 8.3 per cent YoY growth for July and August, respectively. Coal dispatch is up 8.5 per cent/5.4 per cent YoY for the two months, although there was some tapering in growth. As per report, overall coal dispatch has been ~7 per cent for these two months, the power sector has received ~14 per cent higher coal in August 2023 as against August 2022 - YTD numbers stand at 20 per cent. This is good compared to last year, when India faced good demand upsurge during Sep-Oct and many thermal units did not have enough inventory. SEE ALSO : <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/satellite-internet-provider-hughes-communications-india-on-monday-announced-the-commercial-launch-of-indias-first-high-throughput-satellite-hts-broadband-service-powered-by-the-indian-space-research-organisation-isro-as-the-elon-musk-run-spacex-abandoned-its-affordable-internet-project-starlink-in-the-country-/articleshow/94151236.cms">Hughes, ISRO launch satellite internet service in India as Musk's Starlink disappears</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/lenskart-and-mirae-asset-capital-sign-up-with-razorpay-for-online-transactions/articleshow/94150744.cms">Lenskart and Mirae Asset Capital sign up with Razorpay for online transactions</a>

Power generation rises marginally in July-Aug on heavy rain: Emkay Global

The price of cement is hardening across the country and since August this year, the rates have gone up by ₹16/per bag, said <keyword id="152070" type="General" weightage="20" keywordseo="Emkay-Global-Financial-Services-Ltd" source="Orion">Emkay Global Financial Services Ltd</keyword>. According to a report by the company, in November the prices went up by about ₹6-7/bag. While the prices remained flat in Western and Central parts of the country, the rates hardened in Northern, Eastern and Southern regions, Emkay Global said. According to the report, the cement companies are attempting further price hikes of ₹10-15/bag across the country this month. "Absorption of the price hikes will get revealed over the next few days. With the financial-year change (from December to March) by ACC and Ambuja, volume push by these companies is likely to be limited in December. This is positive for the pricing trend in the near term," Emkay Global said. "We expect the industry's profitability to increase by move r than ₹200/ton QoQ (even higher for Eastern region players) in Q3FY23, with improving cement prices along with peakout of operating cost in Q2FY23," it added. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/only-half-of-indian-listed-companies-set-net-carbon-emissions-commitments-wtw/articleshow/96032489.cms" style="">Only half of Indian listed companies set net carbon emissions commitments: WTW</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/indian-beauty-brand-rene-cosmetics-raises-25-million-in-series-b-funding-led-by-evolvence-india-edelweiss-group/articleshow/96031563.cms" style="">Indian beauty brand RENÉE Cosmetics raises $25 million in Series B funding led by Evolvence India, Edelweiss Group</a>

Cement makers plan to hike price by ₹10-15 per bag

At a time when there are many risks and uncertainties in the global economy, a 20 per cent allocation to <keyword id="18712" type="General" weightage="20" keywordseo="gold" source="Orion">gold</keyword> ETFs in an investment portfolio during Diwali is ideal, said <keyword id="594214" type="General" weightage="100" keywordseo="quantum-amc" source="Orion">Quantum AMC</keyword>. In a statement issued on Monday, Quantum AMC said the correction in the gold prices from the peak has made the metal affordable this festive season. "To make the most of the correction, we recommend investing in efficient products such as gold ETFs (exchange traded funds) to maximize the benefits," Quantum AMC said. Owning physical gold comes with additional costs such as making charges, retail premiums, storage concerns, and lower buyback value. On the other hand, gold ETFs are highly liquid, incur no making charges, and ensure exposure to insured pure gold. Also, the buy-sell spreads are tight making ETFs price efficient. The rise in the US interest rates and the likelihood of the hawkish stance of the <keyword id="6355253" type="General" weightage="50" keywordseo="federal-reserve" source="Orion">Federal Reserve</keyword> converting itself into rate hikes which may go well into the next year as well may keep gold prices at the lower end of the range, <keyword id="105309" type="General" weightage="50" keywordseo="emkay-global-financial-services" source="Orion">Emkay Global Financial Services</keyword> said in a recent report. "The current spell of gold weakness may continue till there is more concrete information on the state of the economy in the major economies, especially against the background of an aggressive central bank trade-off unfavourable to growth and promoting stability," Emk ay Global remarked. Generally, gold is considered as a hedge against inflation but this time around it does not seem so. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/pvr-reports-net-loss-of-71-23-crore-in-q2-attributes-it-to-bollywood-hollywood-flops/articleshow/94917917.cms">PVR reports net loss of ₹71.23 crore in Q2, attributes it to Bollywood, Hollywood flops</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/news/rupee-falls-19-paise-to-82-38/usd-as-foreign-outflows-weight-on-investor-sentiment/articleshow/94916562.cms">Rupee falls 19 paise to 82.38/USD as foreign outflows weight on investor sentiment</a>

20% allocation in gold ETF a better investment strategy: Quantum AMC

The <keyword id="14184962" type="General" weightage="20" keywordseo="Indian-currency-rupee" source="Orion">Indian currency rupee</keyword> breached the Rs 78 mark against the dollar for the first time ever on Monday, hitting a new lifetime low against the US dollar. The rupee closed Monday's trade at Rs 78.04 per US dollar, after depreciation as low as Rs 78.29 in intra-day deal. "There is no fresh trigger to predict if the rupee will be 79 or 80 unless and until there is a conflict between US and China with regards to Taiwan, other than that there shouldn't be any correction towards 77 or 77.50 in the spot," said <keyword id="105309" type="General" weightage="20" keywordseo="Emkay-Global-Financial-Services" source="Orion">Emkay Global Financial Services</keyword> in a note. The rupee might see more weakness ahead of the US monetary policy review meeting starting later this week, where the <keyword id="117388" type="General" weightage="80" keywordseo="us-fed" source="Orion">US Fed</keyword> is expected to hike rates and showcase a more aggressive action, said <keyword id="14184963" type="General" weightage="80" keywordseo="jigar-trivedi" source="Orion">Jigar Trivedi</keyword>, <keyword id="162421" type="General" weightage="80" keywordseo="research-analyst" source="Orion">Research Analyst</keyword>, Commodities &amp; Currencies Fundamental, Anand Rathi Shares &amp; Stock Brokers. However, runaway depreciation might not happen amid the central bank's intervention, Trivedi said. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="http://www.businessinsider.in/stock-market/news/indian-equity-markets-wiped-out-127-billion-investor-wealth-in-just-two-days/articleshow/92181381.cms">Indian equity markets wiped out $127 billion investor wealth in just two days</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="http://www.businessinsider.in/tech/enterprise/news/simplilearn-is-looking-to-hire-800-people-including-160-freshers-this-year/articleshow/92181229.cms">Edtech startup Simplilearn bucks the trend — to hire 800 people this year</a>

Rupee breaches the ₹78 mark against the dollar for the first time ever

As in 2022, gold is expected to log double digit gains this year as per indications, said experts. "The yellow metal has already posted over three per cent gains in the month of January, 2023. The current setup seems to indicate a re-run of 2022. Gold seems to be poised to open a new chapter in term of its price trajectory," Emkay Global Financial Services said in a report. According to Quantum Mutual Fund report, gold started the new year on a cheery note, up about six per cent in January in dollar terms and about four per cent in rupee terms. Underpinning the rally was annual <keyword id="22195" type="General" weightage="20" keywordseo="inflation" source="Orion">inflation</keyword> in the US slowing for a sixth straight month to 6.5 per cent in December, raising hopes of smaller rate hikes from the Federal Reserve in Q1'23 and rate cuts later in the year, Quantum Mutual Fund said. In the last one year, gold purchases in the international markets was about 4,000 tonne of which 1,400 tonne took place in the last quarter, said Emkay Global. Apart from institutional buying, jewellery demand in China revived with the Covid restrictions being relaxed there. China is one of the biggest consumers of gold, accounting for over 30 per cent of global jewellery demand, Emkay Global said. "The yellow metal benefitted from a softer USD environment and lower US Treasury yields. Physical demand from China during the Lunar New Year celebrations, central bank gold buying and increase in net long positioning in gold by global money managers also supported prices,a Quantum Mutual Fund said. The general expectation that there will be a slowdown in economic activity in the major economies also is helping gold though the high inflation never propelled gold to higher levels, said Emkay Global. In India, with a duty cut now out of the picture for the foreseeable future, down moves in gold on account of that are no longer expected. But prices could see some headwinds from developments on the <keyword id="442659" type="General" weightage="20" keywordseo="US-monetary-policy" source="Orion">US monetary policy</keyword> front. Investors can stagger their purchases over the next few months to build their gold allocation, Quantum Mutual Fund said. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/entertainment/news/business-of-nostalgia-reruns-aim-to-bring-india-back-to-the-silver-screens/articleshow/98060436.cms">Business of nostalgia: Reruns aim to bring India back to the silver screens</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/fiis-pump-in-6000-crore-in-5-sessions-as-emerging-markets-turn-attractive-again/articleshow/98017229.cms">FIIs pump in ₹6,000 crore in 5 sessions as emerging markets turn attractive again</a>

Gold expected to log double digit gains this year say experts

The <keyword id="6354335" type="General" weightage="50" keywordseo="reserve-bank-of-india" source="Orion">Reserve Bank of India</keyword>'s (<keyword id="30067" type="General" weightage="100" keywordseo="rbi" source="Orion">RBI</keyword>) move to relax regulations to boost foreign exchange inflows will not have any material change in receipts, but certainly helpful in directional forex signalling to speculators, said <keyword id="141615" type="General" weightage="80" keywordseo="emkay-global" source="Orion">Emkay Global</keyword> Financial Services Ltd. Reacting to RBI's moves on Wednesday, Emkay Global in a report said: "While these measures to boost capital account are helpful, they may not have a material impact on flows. Nonetheless, they will still ease the pressure of the RBI to intervene to some extent." According to Emkay Global, with low forward premia, this mobilisation may still make some sense for banking entities. The timing of RBI's move coincides with the typically strong remittance/deposit season that comes with the beginning of the festive season. This can take the pressure off banks to raise domestic deposits amidst accelerating credit growth, and also somewhat cool-off domestic borrowing rates, Emkay Global said. The easing of all the available channels of foreign portfolio investors (<keyword id="725142" type="General" weightage="50" keywordseo="fpi" source="Orion">FPI</keyword>) investments in debt may not lead to material change in FPI flows given the free limits that are already available. However, the new tenors added in Fully Accessible Route (FAR) securities are fairly active. "Thirdly, the all-in cost ceiling under the <keyword id="60971" type="General" weightage="50" keywordseo="ecb" source="Orion">ECB</keyword> (external commercial borrowings) framework is also being raised by 100 bps, subject to the borrower being of investment grade rating, however we seek more clarity on this front as to whether it leads to any change in caps (from existing 450bps), and if it makes sense for domestic good investment-grade borrowers to borrow in foreign currency, except when they are facing a credit crunch back home," the report said. While it is debatable if these steps can lead to significant flows, they could be effective in preventing speculative attacks on the currency and giving directional policy signals to the markets, Emkay Global added. The key measures announced by RBI on Wednesday were: 1. Cash Reserve Ratio + Statutory Liquidity Ratio (CRR+ SLR) exemptions: Incremental FCNR Bank and Non-Resident External (NRE) deposit liabilities now exempt from <keyword id="626944" type="General" weightage="50" keywordseo="net-demand-and-time-liabilities" source="Orion">Net Demand and Time Liabilities</keyword> (NDTL) computation for maintenance of CRR and SLR. Transfers from Non-Resident Ordinary (NRO) accounts will not qualify for this relaxation. This relaxation is available till November 4, 2022. 2. Interest rates on FCNR and NRE deposits: Banks are temporarily allowed to raise fresh FCNR(B) and NRE deposits without having to adhere to the regulations on interest rates on these deposits. 3. FPI debt investment: Easing all the available channels of FPI investments: (i) All new issuances of 7-year and 14-year G-secs (including fairly active current issuances of 7.10 per cent GS 2029 and 7.54 per cent GS 2036 <keyword id="1351125" type="General" weightage="50" keywordseo="ato" source="Orion">Ato</keyword> be now covered under Fully Accessible Route (FAR). At present, 5-year, 10-year and 30-year tenors are covered. (ii) FPI investments in G-secs and corporate debt will not be subject to the short-term limit, i.e., not more than 30 per cent of investments in G-secs and corporate debt can have a residual maturity less than one year. (iii) FPIs can invest in commercial papers and non-convertible debentures with an original maturity of up to one year as against earlier mandate of at least one year. These investments will not be included as part of the short term limit on investments in corporate securities. 4. Foreign currency lending by banks: Banks can utilise overseas foreign currency borrowings (OFCBs) for lending for a wider set of purposes, not just export finance. The measure is expected to facilitate foreign currency borrowing by a larger set of borrowers who may find it difficult to directly access overseas markets. 5. ECB limits: The limit for ECBs under the automatic route has been raised from $750 million to $1.5 billion per financial year. The all-in cost ceiling has also been raised by 100bps. The measures 2-5 above are valid till 31st October 2022, Emkay Global said. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/stopped-russian-imports-in-april-says-essar-oil/articleshow/92714422.cms">Stopped Russian imports in April says Essar Oil</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/science/space/news/elon-musk-is-confident-that-humanity-will-reach-mars-in-our-lifetime/articleshow/92714414.cms">Elon Musk is confident that humanity will reach Mars in our lifetime</a>

RBI's moves to boost forex inflows could have an impact on domestic borrowing rates

Mumbai, Apr 13 () The coronavirus outbreak and inventory correction before transition to BS-VI emission norms are expected to pull down aggregate revenue of some of the auto and auto ancillary companies by 26 per cent in March quarter even as the near-term weakness in demand is likely to continue as COVID-19 persists, a report said on Monday.Besides, the higher discounts and operating de-leverage are expected to contract aggregate margins by 240 basis point year-on-yea, Emkay Global Financial Services, said in its report on the auto and auto ancillaries. Most of the manufacturing activities, including in the auto sector, are suspended since March 25 when the government implemented a 21-day lockdown to contain the spread of coronavirus.States like Maharashtra, Punjab, Odisha, Telangana and West Bengal have already announced the extension of lockdown till April 30. "Aggregate revenue (in March quarter) is likely to decline 26 per cent year-on-year, owing to the Covid-19 outbreak and inventory correction before BS6 transition. Firms that are likely to record a steep fall in revenue are deep cyclicals or companies with global linkages," Emkay Global said.The March quarter topline of the companies covered under the report are likely to be weak with 28 per cent year-on-year fall , it said adding the decline will be sharp for deep cyclicals and companies with global linkages.The auto makers included in its analysis are Tata Motors, M&amp;M Ltd, Maruti Suzuki India, Hero MotoCorp, TVS Motors, Ashok Leyland, Bajaj Auto, Eicher Motors, Escorts and Atul Auto. Apollo Tyres, Amara raja, Exide, Motherson Sumi and Bharat Forge were among the ancillary makers. The report said it expects the rebound in sales to be sooner in passenger vehicles, premium motorcycles and tractors segment."Although near-term weakness is expected to continue as the Covid-19 outbreak drags, a gradual recovery is likely from H2FY21 led by a low base, better rural sentiment and pent-up demand. We believe recovery to be sooner in PVs, premium motorcycles and tractors," Emkay Global said in the report. IAS SHW ANUANU

COVID-19, inventory correction before BSVI transition to hit auto revenues in March qtr

An analysis by ET Intelligence Group has revealed that Indian manufacturing became less profitable over the past decade even though there was a marginal drop in the proportion of raw material cost in net sales. 
 
The analysis was done of over 2,000 publicly listed companies across sectors. 
 
Decreasing profits makes it even more necessary for companies to seek for a lower interest rate regime. 
 
The analysis showed that the aggregate operating margin before depreciation (EBITDA margin excluding other income) for the sample of 1,758 companies fell to a 10-year low of 11.4% in FY15 from 15.2% in FY05. 
 
The wholesale inflation, due to which the profit is shrinking, dropped for the eighth straight month in June 2015. 
 
"Clearly, these trends indicate continued weak pricing power among manufacturing sector even as it increased at the intermediary level, specially in the services sector," Dhananjay Sinha, economist and strategist, Emkay Global Financial Services told ET. 
 
(Image: Reuters)

India’s manufacturing sector is sick and low raw material cost isn’t of any help either!

Mumbai, May 13 () The rupee appreciated by 5 paise to 75.46 (provisional) against the US dollar on Wednesday as fiscal stimulus by the government bolstered investor sentiment.Forex traders said Prime Minister Narendra Modi's Rs 20 lakh crore economic stimulus package enthused investors.However, risk sentiments are negative and investor sentiments remain fragile over coronavirus concerns, they added.At the interbank foreign exchange, the rupee opened on a strong note at 75.31, but during the day the domestic unit lost most of its gains and finally settled at 75.46 against the US dollar, registering a rise of 5 paise over its previous close.During the trading session rupee witnessed an intra-day high of 75.30 and a low of 75.50.On Tuesday, the rupee had settled at 75.51 against the US dollar.In a big push to revive the COVID-hit economy, the Prime Minister on Tuesday announced massive new financial incentives on top of the previously announced packages for a combined stimulus of Rs 20 lakh crore."The surprise move of fiscal stimulus by the government had a positive impact on rupee. However, globally, risk sentiments are negative and we have no clarity over the government expenditure plan," Emkay Global Financial Services Head of Research- Currency Rahul Gupta said.Gupta further noted that "positive comments by Finance Minister Nirmala Sitharaman may cheer rupee but it will be short-lived as the fragility over coronavirus still continues". DRR BAL

Rupee settles 5 paise higher at 75.46 against US dollar

Mumbai, Apr 9 () The Indian rupee settled 6 paise higher at 76.28 (provisional) against the US dollar on Thursday tracking higher equities.The local unit had settled at an all-time low of 76.34 against the greenback on Wednesday.Forex traders said the rupee traded in a narrow range as higher opening in domestic equities supported the local unit while concerns over coronavirus outbreak weighed on the local unit.At the interbank foreign exchange market, the local currency opened at 76.11, but witnessed heavy volatility and touched a low of 76.55 against the American currency.The domestic unit finally settled at 76.28 against the greenback, up 6 paise over its previous close.Traders said concerns over the impact of coronavirus outbreak on the domestic as well as the global economy continued to haunt investors.There are more than 15.18 lakh declared cases of coronavirus worldwide. In India, the tally of confirmed coronavirus cases has crossed the 5,700-mark."Uncertainty and fragile market sentiments over COVID-19 will continue to keep the rupee under pressure. Further pressure will come from the uptick in crude and surge in the dollar index," said Rahul Gupta, Head of Research- Currency, Emkay Global Financial Services.Gupta further said, "also, OTC timings have been trimmed to 10AM-2PM, and it is an illiquid, pessimistic market at this point in time and won't be surprised if 77.50 is breached next week." DRR MR

You Searched For "Emkay Global Financial Services Ltd" and got 11 results

Cement companies plan price hike of ₹10-30 per bag

IANS

Power generation rises marginally in July-Aug on heavy rain: Emkay Global

IANS

Cement makers plan to hike price by ₹10-15 per bag

IANS

20% allocation in gold ETF a better investment strategy: Quantum AMC

PTI

Rupee breaches the ₹78 mark against the dollar for the first time ever

IANS

Gold expected to log double digit gains this year say experts

IANS

RBI's moves to boost forex inflows could have an impact on domestic borrowing rates

IANS

COVID-19, inventory correction before BSVI transition to hit auto revenues in March qtr

PTI

India’s manufacturing sector is sick and low raw material cost isn’t of any help either!

BI India Bureau

Rupee settles 5 paise higher at 75.46 against US dollar

PTI

Rupee settles 6 paise higher at 76.28 against US dollar

PTI

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