Page 2 - Financial Year
All-India electricity demand may grow 7% to 1,480 bn units in FY23: Icra
The all-India electricity demand is expected to grow 7 per cent to 1,480 billion units (BU) in the ongoing financial year, according to Icra. In the preceding 2021-22 fiscal, the all-India power demand was at 1,380 BU, the ratings agency said on Monday. "All-India electricity demand to remain healthy at over 7 per cent in FY23 despite growth slowdown post Q1 of this fiscal, and grow at 5-5.5 per cent in FY24," Icra said in a report. The estimates are based on the fact that all-India electricity demand increased 10.6 per cent year-on-year in first eight months of FY2023, amid a severe heat wave in north and central India, it said. Girishkumar Kadam, Senior Vice President & Co-Group Head - Corporate ratings, Icra, said, growing energy demand along with subdued capacity addition in the thermal segment is leading to an improvement in average thermal PLF (plant load factor) level for gencos/IPPs (power generation companies/independent power producers) at all-India level.
 "All-India electricity demand may grow 7% to 1,480 bn units in FY23: Icra")
Capex by CPSEs accelerates to 60% of annual target during Apr-Nov period
CPSEs are likely to achieve their target as they tend to rush up their spending in March quarter
 "Capex by CPSEs accelerates to 60% of annual target during Apr-Nov period")
More risk in our book helps us become more agile: MD, Bajaj Allianz Life
In a Q&A, Tarun Chugh dwells on how his firm became the fastest growing in its space, recent Irdai initiatives, and the company's future plans
 "More risk in our book helps us become more agile: MD, Bajaj Allianz Life")
'Our gross NPAs may fall below 8% this FY if there's NARCL resolution'
'After coming out of four years of losses, we want to grow qualitatively'
 "'Our gross NPAs may fall below 8% this FY if there's NARCL resolution'")
Consumer durable demand outlook likely to remain weak in Q3FY23
While input costs have eased, lower volumes could impact margins
 "Consumer durable demand outlook likely to remain weak in Q3FY23")
Zetwerk set for over $1-billion revenue in FY23 on China Plus One
Zetwerk's acquisition of Unimacts will provide the company with immediate access to marquee solar and wind-power customers
 "Zetwerk set for over $1-billion revenue in FY23 on China Plus One")
Price hikes may not stall cement companies' profit dip: CareEdge
Operating profit margins likely to contract by 320-380 basis points to 16.3-16.8 per cent in FY23, says CareEdge Ratings, as input cost pressures remain
 "Price hikes may not stall cement companies' profit dip: CareEdge")
Near-term headwinds likely to keep staffing solution companies muted
But valuations have turned attractive after sharp corrections since January
 "Near-term headwinds likely to keep staffing solution companies muted")
Irdai draft norms do away with specific caps on commissions to agents
Proposes that commissions to agents can't exceed management expense limit
 "Irdai draft norms do away with specific caps on commissions to agents")
Vedanta Group notifies third interim dividend of Rs 17.50 per share
Vedanta Group approved the third interim dividend of Rs 17.50 per share or 1750 per cent for the financial year 2022-23, on Tuesday November 2022
 "Vedanta Group notifies third interim dividend of Rs 17.50 per share")
Indian gaming to add 100,000 jobs in FY23, grow five-fold in 7 years: Study
Industry expected to attract Rs 780 crore in foreign investment, says TeamLease Digital report
 "Indian gaming to add 100,000 jobs in FY23, grow five-fold in 7 years: Study")
RIL, Tata firms top LIC's equity portfolio as insurer's valuation rises
The value of investments in Adani firms more than double in the past year
 "RIL, Tata firms top LIC's equity portfolio as insurer's valuation rises")
NFRA aligning to global standards but industry awaits more clarity
Experts want the authority to set some limit on the time it would spend on on-site visits
 "NFRA aligning to global standards but industry awaits more clarity")
Bank credit to grow 15% YoY in FY23, FY24 on corporate demand: CRISIL
Lenders may have to raise deposit rates at faster pace, says senior executive of agency
 "Bank credit to grow 15% YoY in FY23, FY24 on corporate demand: CRISIL")
LIC has edge over private insurers: Gains market share in FY23
Top private insurance firms shed 447 bps as national insurer gets aggressive in group biz
 "LIC has edge over private insurers: Gains market share in FY23")
Investors react positively to LIC's good showing in second quarter
LIC posted a record rise in the Q2 profit after tax (PAT) to Rs 15,950 crore, up 10x year-on-year (YoY) compared to Rs 1,433.71 crore a year ago
 "Investors react positively to LIC's good showing in second quarter")
Ashok Leyland posts Rs 199 crore net profit in Q2, revenue up 85% YoY
The company has also achieved a market share of 32 per cent in Q2FY23
 "Ashok Leyland posts Rs 199 crore net profit in Q2, revenue up 85% YoY")
Jubilant FoodWorks net rises 10% in July-Sept quarter on high demand
This was owing to uptick in demand across all formats
 "Jubilant FoodWorks net rises 10% in July-Sept quarter on high demand")
Godrej Properties net profit up 54% to Rs 55 cr, net income grows 13%
Company says it has added 6 new projects with a total saleable area of 6.34 million sq ft
 "Godrej Properties net profit up 54% to Rs 55 cr, net income grows 13%")
Birla Corp posts Rs 56.4-crore net loss in Q2, appoints new MD & CEO
The company said profitability was impaired by a sharp increase in power and fuel costs, which could not be passed on to consumers
 "Birla Corp posts Rs 56.4-crore net loss in Q2, appoints new MD & CEO")
