Sandeep Kumar, MD, Tata Metaliks, says there have been issues with funds in government projects, which have started impacting EPC contractors and, thus, ductile iron pipe players like his company. Excerpts from an interview with ET Now. Your pig iron segment has once again being very weak, and segmental growth has fallen by a solid 25 per cent. Walk us through what exactly hurt your performance in third quarter? I thought it is the reverse. The pig iron performance has been stellar, and the overall increase in profitability has almost doubled compared with last quarter. We are at about Rs 55 crore in terms of profit before tax, compared with say Rs 23 crore in quarter two and this has been led primarily by the pig iron business. It has been due to much more efficient operation, improved fuel rate, improved coal injections, no shutdowns and sales volumes. So all and all, it is the pig iron business which led the show and the growth in the ductile iron pipe segment has been a little … [Read more...] about Tata Metaliks had a stellar Q3 show in pig iron business: MD
Businesses to start that are profitable
Sky News has obtained a letter from Marc Meyohas, a partner at the investment firm Greybull Capital, to the chair of the Transport Select Committee, in which he acknowledges a "moral obligation [if we make a profit]...to defray the costs incurred by the Department for Transport (DfT) in repatriating Monarch customers". … [Read more...] about Former Monarch owner makes profit-share pledge to taxpayers
An independent regulator and an inflation cap on rent increases (included in Labour’s last election manifesto) would help renters. But the real need is for the massive investment in social housing that looks increasingly necessary to many, but which this government will not contemplate. It remains wedded to long-standing Conservative doctrines, even as so many of the properties sold under Thatcher’s right-to-buy scheme are rented out privately. Rogue landlords are an extreme manifestation of the underlying problem: the transformation of housing into a financial instrument, which exists to produce a profit rather than provide a home. … [Read more...] about The Guardian view on rights for renters: only the start
But the business model based on the principles of a sustainable economy hasn't produced a large amount of investment products yet. At least this is the sober analysis that the participants of the latest "Fair Finance Week" conference in Frankfurt, Germany, have come up with. … [Read more...] about Just how important are sustainable investments?
In 2016, Bloomberg’s new energy think tank predicted that electric and plug-in hybrid vehicles would make up about 35 percent of the world's auto market by the year 2040. This year, the group upped that figure considerably: by 2040, analysts now say that 54 percent of all cars sold on the planet will be electric. France’s environmental minister said yesterday his country would ban the sale of all fossil fuel-burning vehicles by 2040. And Volvo said it would stop selling gas-only cars by 2019. … [Read more...] about Everything you need to know about Tesla Model 3, which is starting production