Connect with us

Business

Q4 manufacturing outlook positive: Ficci survey

Published

on

FICCI-WEFORNEWS-min

New Delhi, March 11: The outlook for the country’s manufacturing sector for the current fourth quarter (Q4) ending March 31 is positive, industry chamber Ficci said on Sunday.

Ficci cited an increased percentage of its survey respondents reporting higher production in the ongoing quarter as compared to the previous one.

Releasing its latest quarterly survey on Indian manufacturing, Ficci said the positive outlook for the sector in the fourth quarter (January-March) has increased significantly to 55 per cent from 47 per cent in October-December 2017.

“This positive outlook is notable as Q-4 2017-18 witnessed the highest percentage of respondents (55 per cent) expecting higher production since Q-2 of 2016-17,” said a Ficci statement.

“The percentage of respondents reporting low production has also come down to 11 per cent in the fourth quarter from 15 per cent in Q3 of 2017-18.”

Ficci’s latest survey assessed the expectations of manufacturers for the current quarter in 12 major sectors while responses were drawn from over 300 units in large as well as small and medium (SME) segments, with a combined annual turnover of over Rs 3 lakh crore.

“In terms of order books, 51 per cent of the respondents in Q4 are expecting higher number of orders as against 42 per cent of Q3 which again is a sign of revival,” the survey said.

According to Ficci, there are “visible signs of revival in capital goods and improvement is seen in export outlook also”.

“The future investment outlook remains pessimistic as 64 per cent respondents reported that they are not planning any capacity additions for the next six months,” the industry body said.

“High raw material prices, low domestic and export demand, exchange rate appreciation, increasing imports, excess capacities and shortage of working capital finance are some of the major constraints which are affecting expansion plans of the respondents.”

Noting that overall capacity utilisation in manufacturing remains low, the survey reported that “the average capacity utilisation for the manufacturing sector is about 77 per cent for Q3 2017-18 which is similar to that of Q2”.

The outlook for exports is marginally positive as 47 per cent of the participants are expecting a rise in exports during the quarter in consideration.

“Rupee appreciation has also affected exports during Q3 as 80 per cent of the respondents reported that the exports were affected by upto 5 per cent due to rupee appreciation,” Ficci said.

“Hiring outlook for the sector remains subdued in the near future as 70 per cent of respondents mentioned that they are not likely to hire additional workforce in next three months.”

Reflecting the rising inflation, the survey reported that the cost of production as a percentage of sales “has risen significantly for 62 per cent respondents in Q3 2017-18.

“This is primarily due to increase in cost of raw materials, increased wages, power cost and higher GST rates on certain products.”

IANS

Auto

2018 Ducati Multistrada 1260 launched in India at Rs 15.99 Lakh

Published

on

2018 Ducati Multistrada 1260

New Delhi, June 18: Ducati India has just launched the 2018 Multistrada 1260 in the country at Rs 15.99 lakh (ex-showroom), while the Multistrada 1260 S has been priced at Rs 18.06 lakh (ex-showroom). Ducati India announced the launch through its social media on Tuesday.

The 1260 is the company’s flagship adventure-tourer and comes with a number of changes over the model it replaces. These updates include additional power, a revised chassis and new equipment.

The Multistrada gets a new 1,262cc, liquid-cooled, L-Twin motor. It produces 158hp at 9,500rpm, a 6hp increment over the 2017 Multistrada. Torque, too, has gone up by 1.5Nm, bringing the total up to 129.5Nm, which is delivered at 7,500rpm. The new engine features what Ducati calls Desmodromic Variable Timing (DVT), which, combined with Desmo valve actuation, results in good low-end torque. This tech also helps make the engine Euro-IV emission norms compliant.

The DVT on the Ducati Multistrada 1260 combines variable timing with desmo valve actuation which delivers an ideal combination of horsepower, low-rpm torque as well as meets Euro-4 emission norms. The Multistrada 1260 DVT engine is now capable of 160 PS at 9,500 rpm and 129.4 Nm at 7,500 rpm. However, it now gets a very flat torque curve, delivering 85 percent of peak torque from as low as 3,500 rpm, something ADV riders will greatly appreciate.

Internationally, the Multistrada 1260 is available in four variants, the 1260, 1260 S, the S D|air and the Pikes Peak – the last two will only come to India later, if at all.

To make the most of the new engine, the chassis has been retuned as well. The steering rake has been increased from 24 to 25 degrees, adding 5 mm of trail, and the swingarm is 48 mm longer.

This takes the wheelbase to 1,585 mm from 1,530 mm on the earlier model. The longer wheelbase should be able to facilitate more comfortable riding and better stability. The Multistrada 1260 has 48 mm inverted forks up front and a rear shock by Sachs, both fully adjustable.

The 1260 S also receives a new high-definition colour TFT display, navigation, semi-active Ducati Skyhook Suspension (DSS), as well as barrage of rider assist options including a vehicle hold control, as well as four riding modes – sport, touring, urban, and enduro.

WeForNews

Continue Reading

Business

Weak global cues subdue equity indices; Sensex down over 200 points

Published

on

Sensex Nifty Equity

Mumbai, June 19: Weak global markets suppressed the key Indian equity indices on Tuesday afternoon with the benchmark 30-scrip Sensex of the BSE losing over 200 points so far.

Benchmark global markets were weighed down by signs of a resurgent trade war after US President Donald Trump on Monday reportedly threatened to impose tariffs on additional $200 billion worth of Chinese goods.

According market analysts, heavy selling pressure was witnessed in auto, metal and consumer durable stocks.

At 1.16 p.m., the wider Nifty50 of the National Stock Exchange (NSE) traded at 10,719.10 points, down 80.75 points or 0.75 per cent from the previous close of 10,799.85 points.

Similarly, the BSE Sensex, which had opened at 35,552.47 points, traded at 35,312.50 points (1.17 p.m.) — down 235.76 points or 0.66 per cent — from its previous session’s close of 35,548.26 points.

The Sensex has so far touched a high of 35,552.47 points and a low of 35,290.96. The BSE market breadth was bearish with 1,859 declines and 598 advances so far.

The top gainers on the Sensex were ONGC, HDFC Bank, Bharti Airtel, Asian Paints and ITC whereas Vedanta, Tata Motors (DVR) and Bajaj Auto, Adani Ports and State Bank of India were the major losers.

On the NSE, Gail, Bajaj Finance and HDFC Bank were the highest gainers while Vedanta, Hindalco Industries and Indian Oil Corp lost the most.

IANS
Continue Reading

Business

Chanda Kochhar goes on leave, ICICI names Sandeep Bakhshi as COO

Published

on

New Delhi, June 19:ICICI Bank appointed Sandeep Bakhshi, who heads the bank’s life insurance arm, as chief operating officer.

The board of directors of ICICI Bank allowed its CEO Chanda Kochhar to go on leave until a probe into her role in an alleged conflict of interest in sanctioning loans to the Videocon Group was completed.

Bakhshi, who was the deputy MD of ICICI Bank before he was made the group’s insurance head, would run the bank during the absence of Kochhar.

All executive directors on the board of ICICI Bank and the executive management will report to him, the bank said.

Monday’s statement said Kocchar will remain in her role as MD and CEO of ICICI Bank and Bakhshi will report to her.

Earlier in the day, shares of ICICI Bank rose as much as 4 per cent, amid reports of reshuffle of top management. The stock gained 3.61 per cent to settle at Rs 292.50 on BSE. In intra-day trade, it surged 4.10 per cent to Rs 293.90.

Continue Reading

Most Popular