Capex Recovery

Budget 2023: PAN cards will be used as a common identifier for all government schemes, the FM said in her Budget speech

Improving demand along with stable competitive intensity, and peak capex is expected to trigger linear growth for the Indian Tyre industry

However, low demand in the economy has been arresting fresh investments, and experts tracking India Inc have not seen any major announcement in this zone

Data from Controller General of Accounts shows capital expenditure for April-June 2020, at Rs 88,273 crore, was 40% higher than a year ago, though the gap narrowed to just 4% by July-end

The rating agency - in its Infrastructure Yearbook 2019, released on Tuesday - said most of the sub-sectors in infrastructure have shown stress this year, compared to the previous year

Back in February when most capital goods companies showed improved capacity utilisation, it pointed to early signs of turnaround for the sector. Now that belief has gathered more strength, thanks to a strong March quarter performance from ABB India and Siemens India. Even as their net profit took a hit due to change in accounting norms, the key takeaway was the eye grabbing growth in order inflows. For ABB India, the 28 per cent year-on-year growth in order inflow came from power transmission and distribution (T&D) segment, while pockets such as renewable energy and railways also supported it. A similar case entails for Siemens India. The spike in order inflow (up 61 per cent year-on-year) in March quarter derives additional strength from cement, steel and automotive (construction equipment) sectors as for modernisation, maintenance and expansion is underway in these industries. This has prompted a few analysts to believe that these could be early signs of turnaround in capacity ..