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The Economic Times

Limited Impact of Bangladesh's developments on India's FMCG, footwear & soft luggage sector: CRISIL

Recent developments in Bangladesh have had a limited impact on India's trade, according to a CRISIL report. Sectors like FMCG, cotton yarn, and footwear may see minor effects, while ship breaking and readymade garments could benefit. Prolonged disruptions could affect export-oriented industries with ties to Bangladesh.

Business Standard

Jai Corp board OKs Rs 118-cr share buyback

The steel-to-spinning yarn manufacturer announced that its board has approved share buyback of upto Rs 117.77 crore at a price of Rs 400 per equity share through tender offer route.

Business Standard

Birla Corporation Q1 results: Net profit declines 45% to Rs 33 cr

M P Birla group flagship firm Birla Corporation on Thursday posted a 45 per cent decline in its net profit to Rs 33 crore during the first quarter of the 2024-25 fiscal as compared to Rs 60 crore in the year-ago period. A company statement said that revenue of the company during the April-June period also decreased by 8.9 per cent at Rs 2,207 crore as against Rs 2,423 crore in the similar previous quarter It said weak cement prices coupled with sluggish demand have weighed down the profitability of the June quarter. Sales volumes also declined marginally in the face of contracting demand. Faced with challenging market conditions, the Kolkata-headquartered company focused on reducing variable costs in cement production across its units. The jute division of the company registered a cash loss of Rs 3.9 crore in the quarter under review against a cash profit of Rs 6.4 crore in the similar previous period. Realisation of cement sales per tonne during the first three months of the curr

The Economic Times

Indian cotton spinning industry expected to recover in FY25: ICRA Report

ICRA predicts the domestic cotton spinning industry will recover in FY2025, with 6-8% growth driven by increased volume and mild realisation gains. Following two years of decline, improved domestic demand and stabilised exports will boost the industry. Cotton yarn prices are expected to rise slightly, supporting better profit margins and reduced leverage levels.