Market News
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Duty waiver on petrochemical products extended till July 15
Indian manufacturers will continue to benefit from a full customs duty exemption on imported petrochemicals until July 15. This extension aims to stabilize input costs for sectors like plastics, packaging, and textiles, which are still navigating supply chain recovery post-West Asia conflict. The move ensures a steady flow of essential raw materials, bolstering domestic production and market availability as global supply chains gradually normalize.
Realtors eye margin relief as US-Iran peace deal raises hopes of lower fuel costs
A potential peace deal between the US and Iran offers hope for India's real estate and construction sectors. Developers are watching oil prices closely. A ceasefire could lower crude oil costs, easing supply chain worries. This may gradually reduce construction expenses and improve project margins. Stability in the Gulf region could also boost housing demand from non-resident Indians.
Tata's Apple iPhone factory in Tamil Nadu may get shut down over farmland water contamination; pollution body seeks explanation
An Indian pollution regulator has accused Tata Electronics, a key supplier for Apple's iPhones, of contaminating groundwater near its Hosur factory. The regulator found wastewater discharge from the plant polluted farmland wells. Tata faces a potential shutdown unless it provides a satisfactory explanation. This adds to recent issues faced by Apple's Indian supply chain.
Consumer goods companies chart new manufacturing and sourcing course as West Asia crisis hits supply chain
Indian consumer goods firms like Dabur, Britannia, Tata Consumer Products, and Emami are rerouting manufacturing and sourcing away from West Asia due to the Iran conflict and Strait of Hormuz disruptions. Companies are shifting production to India, Egypt, and Turkey, and exploring new export routes to mitigate business impacts and ensure supply chain stability.
No happy hour yet: Alcohol makers flag cost shock, seek state price hike
Alcoholic beverage makers are urging state governments for price increases. Rising costs for cans and bottles are impacting production. Supply chain disruptions, particularly from the West Asia crisis, have led to significant price surges for glass, paper, and other materials. Manufacturers face potential shutdowns.
Magnum plans three more factories to cash in on India's ice cream craze
Magnum Ice Cream is significantly expanding its operations in India. The company plans to increase its factories from one to four to meet surging demand. This expansion comes as Magnum revamps its India business with dairy-based products and lower prices. Despite current profitability challenges, the company is investing in supply chains and cold-chain infrastructure.
Ola Electric plans Rs 2,000 cr fundraise for battery arm
Ola Electric is raising up to Rs 2,000 crore by selling a stake in its battery unit, Ola Cell Technologies. This move aims to strengthen its finances and restructure operations. The company's battery plant in Tamil Nadu is set to expand its capacity. This development is crucial for India's domestic EV supply chain and energy storage solutions.