Ad Here  
January
February
March
April
May
June
 
 
Realty sector takes a break... Brand leaders come forward... Investor friendly Japan Tata Steel commence operations at Kalinganagar Climate change may change the way businesses work... Innovation that helped Chennai port Realising double digit growth in Tamil Nadu BRICS development bank An American alliance in the chemical industry? OBO Bettermann for better lightning protection Chennai will soon get its World Trade Centre Hero Motocorp - smooth ride TOP 10 CEO Compensation TCS’ revenues cross Rs 100,000 crore Durga - India’s largest blast furnace; now operational Reality bytes Secured NCDs from Shriram City Industry-well poised to invest on expansion TN budget pragmatic and moderate on fiscal deficit Connecting the unconnected TVS Logistics – another acquisition to sharpen the business model Economic issues take a back seat at G20 summit Inclusive and forward moving... Indigo stays leader with 40 per cent share Dynamic e-commerce scenario An aerospace-defence cluster in Tamil Nadu… STFC raises money European crisis is a global crisis! Murugappa- a year of consolidation ISRO's 100th mission LVB gears to become a financial supermarket Automotive Vision Plan II... Nigeria comes nearer Celebrating 180 years of relevance - Is Indian telecom industry heading for a monopoly? Adding Zest to Scooty Hyundai excites again WABCO’s second Chennai plant Chennai Port is at last decongested! Waste, a gold mine Smart controls for cooling large multi-zone spaces ... Indian Bank – global businesses crosses Rs 3 lakh crore... Changing dynamics in human resource management Auto test tracks launched at GARC Oragadam campus Time to fast-pace the logistics sector TiE applauds innovative entrepreneurs Curbing steel imports will hurt small business... Need to focus on ease of doing business... Flexible labour laws… Three more leather clusters… Blue Star plans a new plant in south Carrefour’s quick exit Well-refined – RIL’s refinery margins zoom Ridley marathon to India A global plastic event in India Apple maps – finding its way Chola MS launches motor app People Flow Day- Safety Make way for the new and dynamic railways ECGC expands operations Purdue and IIT-M sign the dotted line World labour laws at a glance Four daughters and a proud father Celebration time at MS Chola ALL to launch electric busses Chennai to get a roundabout Metro Pharma market dozes Techies trip to India Veritas Finance- financing the unfinanced ALL-two launches in a row On the ‘milky’ way Big-ticket investments march towards Punjab Creating Tamil Nadu Banana brand Downsizing spree... IFCI to raise NCDs upto Rs 2000 crore Striking cords for 25 years… Business Breif Rating of states to be released soon The new look- 4s Verna ALL – truck industry is recovering from degrowth Nothing to hide... Research needs more funding AirAsia India infuses funds to fight out competition Scoot offers just Rs.13,500 to ANZ... Business Briefs More gensets and diesel engines from TAFE Economic, business and social sustainability Bridging the skill deficit in pharma industry Placing the right shoe forward... Applauding enterprise... Towards peace of mind SumInfra- corridor based development... Steel loses its sheen Airlines wage price war TII’s single largest investment at Thiruthani Gem of social service... Digital retail transactions stabilise at higher level… TII-challenging year with flat growth Holiday Inn opens in OMR Chennai Sun Edison launches solar pumps Focus on self-certification and third party inspection Illicit markets a concern to growing economy CUB: towards card-less withdrawal Chola MS net crosses 100 crores Housing Innovation Challenge, 2015 Backpack laboratory Strategy war escalates between Hero and Honda Schwing Stetter India joins hands with US-based Gomaco When Centre visits the state
 
Industry-well poised to invest on expansion

Murugappa Group Chairman, A Vellayan expects industry to go for expansion from later this year: “manufacturing units have been operating at high levels of capacity-utilisation. By the end of the year there are prospects for reaching full capacity. Then there will be need for capital investments for capacity expansion,” he said.

Vellayan was on a visit to the US and expressed happiness over a favourable investor sentiment.

Performance of the group companies engaged in agri business, engineering, financial services and insurance had registered record performance in terms of growth, profits and other financial parameters. Vellayan expressed particular satisfaction over the 50 per cent jump in market capitalization to $ 8 billion.

All the companies of the group – EID Parry, Cholamandalam MS General Insurance, Cholmandalam Investments & Finance, Coromandel International, Tube Investments, Carborandum Universal and other businesses – together recorded a turnover of Rs 30,023 crore; significantly, all the units reported significant jumps in EBITDA.

Vellayan has particular reason to feel happy over the sugar industry recording handsome profits after two years of poor performance. There was a 21 per cent jump in revenue of the sugar division to 

Rs 4156 crore. In line with other major sugar producing states accepting reforms, he expressed the hope for Tamil Nadu falling in line.

The financial services business, including insurance, has been registering handsome growth in terms of gross sales and profits. The operations have spread across the country. Vellayan referred to a vaster spread of general insurance thanks to the new initiatives.

Exports of the group registered a handsome growth to Rs 3400 crore (Rs 2700 crore).

Addressing the media, Vellayan pointed to the Central government introducing several reforms like the direct transfer of  fertilizer subsidy to farmers.

The group is thus well-positioned to expand capital expenditure and on new initiatives. Vellayan pointed to the prospects for such expansion in all the states where the group has manufacturing activity.

Author :
Reported On :
Sector :
Shoulder :
RELATED NEWS
ABOUT IE
IE, the business magazine from south was launched in 1968 and pioneered business journalism in south. Through the 45 years IE has been focusing on well-presented and well-researched articles. When giants in the industry stumbled to keep pace with the digital revolution, IE stayed affixed embracing technology.
Read more
 
PRIVACY POLICY
Economist Communications Ltd is committed to ensuring that your privacy is protected.
Read more
TERMS AND CONDITIONS
You agree that your use of this Website and the purchase of the magazine will be governed by these terms and conditions.
Read more
 
CONTACT US
S-15, Industrial Estate,
Guindy,
Chennai - 600 032.
PHONE: +91 44 22501236
EMAIL: indecom1968@gmail.com