5 Minutes Read

Impact of steel export duty cut to translate by March, says Jindal Stainless

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

 Listen to the Article (6 Minutes)

Summary

CNBC-TV18 spoke to Union steel minister Jyotiraditya Scindia who said that time was right to remove steel export duty. “It is only after many iterations of discussions and very long deliberations that we arrived at the conclusion that we are in favour of lifting these export duties,” Scindia said.

The government has withdrawn export duties on most steel and iron ore products levied in May this year. The steel ministry says that the rollback decision was taken on the back of a steep fall in steel exports in October.

Vijay Sharma, Director, Jindal Stainless welcomes this consideration by the central government and believes that the impact of this duty withdrawal is likely to be seen in February or March.

“Export duty imposition was also very sudden and withdrawal is also very sudden. Though we are very happy with that, we are working on it. However, stabilizing the total supply chain will take a couple of months. So this financial year, the export volume impact – post this duty withdrawal – is likely to be seen in February or March,” he said.

CNBC-TV18 spoke to Union steel minister Jyotiraditya Scindia who said that time was right to remove steel export duty. “It is only after many iterations of discussions and very long deliberations that we arrived at the conclusion that we are in favour of lifting these export duties,” Scindia said.

He added that the steel industry was facing a lot of pressure on the pricing front. “We were apprehensive that commodity prices, also as international forecasters had put in place, may start rising again. So there will be multiple pressures on the steel industry with regards to pricing. So we were dynamically monitoring that and I had committed to the steel industry that we will take a view one way or the other in November, and through multiple deliberations we concluded on the view that the time has come now to remove this export duty,” he said.

As per the Finance Ministry notification, exports of iron ore lumps and fines less than 58 percent Fe will attract zero duty while exports of iron ore lumps and fines greater than 58 percent Fe will attract 30 percent duty. Export of iron ore pellets will attract zero duty.

Also Read: Industry welcomes export duty withdrawal on iron and steel items

The company is confident of maintaining the earlier guidance of EBITDA/tonne at Rs 18,000 despite global uncertainties as there is stability in volumes on the domestic front.

Overall debt of Jindal Stainless has been reduced by 40 percent in the last two years or so and it currently stands at Rs 2,750 crore.

However, the company is in the expansion mode. Jindal United Steel Ltd (JUSL) acquisition is, which is likely to happen within this financial year, will add about Rs 2,000 crore debt to the company’s existing debt levels.

So the total debt of Jindal Stainless by the end of FY23 will be at Rs 4,750 crore.

Sharma is hopeful that the merger will happen within this financial year.

Also Read: Steel export duty cut is good but not immediately, say analysts

For the full interview, watch the accompanying video

Catch all the latest updates from the stock market here

Check out our in-depth Market CoverageBusiness News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18CNBC Awaaz and CNBC Bajar Live on-the-go!

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

 Daily Newsletter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Previous Article

Oil Fluctuates as Traders Assess China’s Vow, Unrest in Libya

Next Article

Shanghai residents turn to NFTs to record COVID lockdown, combat censorship

LIVE TV

today's market

index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
Quiz
Powered by
Are you a Crypto Head? It’s time to prove it!
10 Questions · 5 Minutes
Start Quiz Now
Win WRX (WazirX token) worth Rs. 1500.
Question 1 of 5

What coins do you think will be valuable over next 3 years?

Answer Anonymously

Should Elon Musk be able to buy Twitter?

 5 Minutes Read

HAL adding new capacity for helicopter production with export targets in mind

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

 Listen to the Article (6 Minutes)

Summary

Second line of Tejas manufacturing programme also has been operationalised. In addition to that, Hindustan Aeronautics Ltd (HAL) is also trying to develop the private ecosystem by outsourcing many of the work packages to the four major vendours in the private sector.

[wealthdesk shortname=”Hindustan Aeron” isinid=”INE066F01012″ bseid=”541154″ nseid=”HAL” sector=”Diversified” exchange=”nse”]

Hindustan Aeronautics Ltd (HAL) has added a new plant in Tumakuru, Karnataka for helicopter production, which is getting operationalised soon. The company can manufacture upto 60 helicopters here and also has an established facility in Bengaluru, manufacturing close to 30 helicopters a year.

“Depending on the type and requirement of the helicopters, the company could manufacture upto 90 helicopters per annum in the near future,” said CB Ananthakrishnan, CMD, HAL.

Ananthakrishnan also discussed the outlook and the opportunities for India’s big defence localisation push.

The second line of the Tejas manufacturing programme has also been operationalised. In addition to that, the company is also trying to develop the private ecosystem by outsourcing many of the work packages to the four major vendors in the private sector.

The company has delivered a good set of numbers for the second quarter of this financial year. The order book is looking very strong at around Rs 8,400 crore.

The repair overhaul and manufacturing ratio for the first half of the current financial year FY23 are 60:40. This trend is expected to continue in the next year as well.

“FY25 onwards the manufacturing contracts will get executed and then the ratio will change. For FY25 the repair overhaul and manufacturing ratio is expected to be at 50:50,” he said.

Also Read: Hindustan Aeronautics top pick in largecap defence stocks, says Elara Capital’s Harshit Kapadia

For the full interview, watch the accompanying video

Catch all the latest updates from the stock market here

Check out our in-depth Market CoverageBusiness News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18CNBC Awaaz and CNBC Bajar Live on-the-go!

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

 Daily Newsletter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Previous Article

Oil Fluctuates as Traders Assess China’s Vow, Unrest in Libya

Next Article

Shanghai residents turn to NFTs to record COVID lockdown, combat censorship

LIVE TV

today's market

index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
Quiz
Powered by
Are you a Crypto Head? It’s time to prove it!
10 Questions · 5 Minutes
Start Quiz Now
Win WRX (WazirX token) worth Rs. 1500.
Question 1 of 5

What coins do you think will be valuable over next 3 years?

Answer Anonymously

Should Elon Musk be able to buy Twitter?

 5 Minutes Read

RHI Magnesita India to acquire Dalmia Bharat Refractories’ Indian refractory business

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

 Listen to the Article (6 Minutes)

Summary

“We believe that steel industry will keep on growing at 7-8 percent compounded annual growth rate (CAGR) in coming 6-7 years’ time,” said Parmod Sagar, MD and CEO at RHI Magnesita India.

[wealthdesk shortname=”RHI Magnesita” isinid=”INE743M01012″ bseid=”534076″ nseid=”RHIM” sector=”Cement – Products & Building Materials” exchange=”nse”]

RHI Magnesita will acquire the Indian refractory business of Dalmia Bharat Refractories Limited (DRBL), Dalmia OCL (DOCL), for around Rs 1,700 crore in a move to strengthen its presence and offer in key growth markets.

Post the acquisition of Dalmia and Hi-Tech’s refractory business, the company’s market share is expected to go upto 33-34 percent versus its earlier market share of 22-24.5 percent.

“Before taking over Hi-Tech, the market share of the company was 22 percent and after Hi-Tech it was 24.5 percent and with this deal, it will reach 33-34 percent,” said Parmod Sagar, MD and CEO at RHI Magnesita India.

With this acquisition, the debt of RHI Magnesita India will be around Rs 1,300 crore and the management reckons that the debt-equity ratio will still remain at 1:1.

RHI Magnesita has kept aside roughly Rs 200 crore for the modernisation of the Dalmia Bharat Refractory business which will be spent in the next four-five years.

“We believe that the steel industry will keep on growing at 7-8 percent compounded annual growth rate (CAGR) in the coming 6-7 years’ time,” he said.

The current capacity utilization of the company is around 55-60 percent and it will be ramped up. Sagar expects the margins to be in the range of 15-16 percent by FY24

For the full interview, watch the accompanying video

Catch all the latest updates from the stock market here

Check out our in-depth Market CoverageBusiness News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18CNBC Awaaz and CNBC Bajar Live on-the-go!

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

 Daily Newsletter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Previous Article

Oil Fluctuates as Traders Assess China’s Vow, Unrest in Libya

Next Article

Shanghai residents turn to NFTs to record COVID lockdown, combat censorship

LIVE TV

today's market

index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
Quiz
Powered by
Are you a Crypto Head? It’s time to prove it!
10 Questions · 5 Minutes
Start Quiz Now
Win WRX (WazirX token) worth Rs. 1500.
Question 1 of 5

What coins do you think will be valuable over next 3 years?

Answer Anonymously

Should Elon Musk be able to buy Twitter?

 5 Minutes Read

OnMobile Global bets on ONMO and Challenges Arena for growth after subdued earnings

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

 Listen to the Article (6 Minutes)

Summary

Sanjay Baweja, Managing Director and global CEO is betting on Challenges Arena and ONMO – new products in games.

[wealthdesk shortname=”OnMobile Global” isinid=”INE809I01019″ bseid=”532944″ nseid=”ONMOBILE” sector=”Telecommunications – Service” exchange=”nse”]

Mobile Entertainment and gaming company OnMobile is betting on the success of two of its products, ONMO and Challenges Arena, to help shore up their numbers in the second half of the current financial year. ONMO is a social esports mobile cloud gaming platform while Challenges Arena is focused on immersive experiences in quizzing etc.

Sanjay Baweja, Managing Director and Global CEO of onMobile told CNBC-TV18 after its second-quarter earnings that the company is hopeful on these two products to drive earnings.

The company posted a sluggish second quarter with revenue continuing to remain flat. The EBITDA margin dipped sharply over the same period a year ago.

OnMobile launched Challenges Arena about 18 months ago and the management says that it is growing rapidly. The live customer number has more than doubled in the last 7-8 months.

Also Read: View | Games of skill or chance — A decision please!

Challenges Arena revenue grew by 20 percent on a quarter-on-quarter (QoQ) basis.

“Challenges Arena today is at 8 percent of our revenues and it is going to be close 15 percent of our revenue at around the end of quarter four,” Baweja explained.

He expects the net subscribers on Challenges Arena to grow from the current 2.3 million approximately to 2.9 million by the end of the ongoing quarter (Q3).

Also Read: Games24x7 says 28% GST on entire entry fee will make the business unviable

For the full interview, watch the accompanying video

Catch all the latest updates from the stock market here

Check out our in-depth Market CoverageBusiness News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18CNBC Awaaz and CNBC Bajar Live on-the-go!

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

 Daily Newsletter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Previous Article

Oil Fluctuates as Traders Assess China’s Vow, Unrest in Libya

Next Article

Shanghai residents turn to NFTs to record COVID lockdown, combat censorship

LIVE TV

today's market

index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
Quiz
Powered by
Are you a Crypto Head? It’s time to prove it!
10 Questions · 5 Minutes
Start Quiz Now
Win WRX (WazirX token) worth Rs. 1500.
Question 1 of 5

What coins do you think will be valuable over next 3 years?

Answer Anonymously

Should Elon Musk be able to buy Twitter?

 5 Minutes Read

KEC International looks to ride its first Mumbai Metro order

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

 Listen to the Article (6 Minutes)

Summary

KEC International is a global infrastructure EPC major operating in the verticals of Power Transmission and Distribution, Railways, Civil, Urban Infrastructure, Solar, Smart Infrastructure, Oil & Gas Pipelines, and Cables.

[wealthdesk shortname=”KEC Intl” isinid=”INE389H01022″ bseid=”532714″ nseid=”KEC” sector=”Power – Transmission & Equipment” exchange=”nse”]

KEC International’s order book is up 25 percent and they currently have the highest-ever order book plus L1 position (lowest bidder) of Rs 34,000 crore, according to the management.

The global engineering, procurement, and construction major company, a part of the RPG Group, has managed to secure its first order from Mumbai Metro.

It has also secured new orders worth Rs 1,294 crore for its various businesses.

KEC’s Brazilian subsidiary SAE Towers has secured a large order for the supply of towers in the Americas. The company said that this order is one of the largest tower supply orders it has received and it significantly enhances its international T&D order book.

“Around 60 percent is from the T&D sector. It is largely the Brazil order and around 35 percent is from the railway and the balance is cables,” said Vimal Kejriwal, MD and CEO at KEC International.

The other orders include two orders for Ballastless Track (BLT) works from Chennai Metro and Mumbai Metro.

The company has also secured several orders for various types of cables in India and overseas.

The execution will start next year onwards for all the orders, he said.

With these orders, the company’s overall order intake for the current financial year stands at Rs 11,800 crore.

Also Read: Nine businesses recognised as India’s “Best Managed Companies” by Deloitte

It was an operationally weak second quarter for KEC International. The company’s profit is down over 30 percent and margin has seen a sharp contraction to 4.4 percent versus the 7.1 percent last year.

KEC International is a global infrastructure EPC major operating in the verticals of Power Transmission and Distribution, Railways, Civil, Urban Infrastructure, Solar, Smart Infrastructure, Oil & Gas Pipelines, and Cables. KEC is currently working on infrastructure projects in over 30 countries and has a footprint in over 110 countries.

For the full interview, watch the accompanying video

Catch all the latest updates from the stock market here

Check out our in-depth Market CoverageBusiness News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18CNBC Awaaz and CNBC Bajar Live on-the-go!

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

 Daily Newsletter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Previous Article

Oil Fluctuates as Traders Assess China’s Vow, Unrest in Libya

Next Article

Shanghai residents turn to NFTs to record COVID lockdown, combat censorship

LIVE TV

today's market

index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
Quiz
Powered by
Are you a Crypto Head? It’s time to prove it!
10 Questions · 5 Minutes
Start Quiz Now
Win WRX (WazirX token) worth Rs. 1500.
Question 1 of 5

What coins do you think will be valuable over next 3 years?

Answer Anonymously

Should Elon Musk be able to buy Twitter?

 5 Minutes Read

World’s largest camera lens maker focuses on growing India business

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

 Listen to the Article (6 Minutes)

Summary

India is one of the top 10 markets for SIGMA globally and growing ‘dramatically,’ Kazuto Yamaki, CEO of SIGMA, who recently came calling, told CNBC TV18. And Japan’s family-run lens maker is more focused on quality rather than volumes here. Also, find out Yamaki’s rather surprising take on the smartphone camera vs real camera debate, among other things.

Even a decade ago, taking photographs meant having a dedicated camera — be it a point-and-shoot gadget or a full-fledged professional kit. But now, with nearly every smartphone sporting a capable camera setup boosted by computational photography, how do companies that manufacture cameras, such as Nikon, Canon, etc, keep up? Well, according to Kazuto Yamaki, CEO of SIGMA — one of the world’s largest camera lens makers — dedicated camera kits still hold the edge.

Yamaki, who recently visited India to take stock of SIGMA’s business here, said professionals, advanced amateurs and hobbyists will always prefer shooting on a professional camera kit to a smartphone.

“They are really interested in the high-end products. I realised that the picture quality of the smartphone has been improving so rapidly but our main target customers are more interested in the professional gears, cameras and lenses. I think we can co-exist — smartphone and professional camera and lenses,” he said.

One big reason smartphones are seen as catching up with DSLRs — at least in terms of instant image quality — is the under-the-hood wizardry that is known as computational photography. Basically, the smartphone’s imaging processor uses software to enhance the photographs regardless of the actual quality of the lenses.

He likes computational photography

One might think professional camera-makers scoff at software giving photographers a leg-up, but Yamaki says he is actually in favour of using computational photography to enhance image quality. “Smartphones use technology aggressively in their image creation, which has improved image quality significantly. I think high-end cameras and lenses should use similar technology that smartphones use,” he said.

To prove his point, he said SIGMA already has mirrorless cameras in its line-up and will continuously release newer products using such technology more aggressively. “Our target customers are photo/imaging enthusiasts, including professionals and amateurs. Our goal is to satisfy all such customers with the best quality products and services,” he said.

Also Read: Google Play introduces UPI Autopay payment option for subscription-based purchases in India

SIGMA’s market in India has grown at a scale of 20-25 percent over the last three years. This year itself, it has seen a growth of at least 20 percent. The lens maker introduced SIGMA Global Lenses in 2012 and it comprises three lines — art, contemporary and sports — with 48 lenses in total. It also launched its CINE lenses in 2016, which include 25 lenses under the categories of FF zoom, high speed zoom, FF high speed prime and FF classic prime.

India is one of the top 10 markets for SIGMA globally. SIGMA’s prime lenses sell the most in the Indian market, the art series lenses made for mirrorless cameras have the largest market share compared to other products in India.

Primarily a lens maker, SIGMA also has a range of innovative interchangeable and integrated lens digital cameras, including the SIGMA fp series, SIGMA sd Quattro and SIGMA dp Quattro.

“We do some OEM business, it’s not our main area of work, and is just a small part of our business,” he explained.

Focus on India

Yamaki had initially planned to visit India in 2019, but then a typhoon hit his country. He postponed it to 2020, but then the COVID-19 pandemic broke out. So he was finally able to make it to India in October, 2022, and based on his visit, is quite pleased with the India story — so much so, he says, that they have plans to expand here.

“Yes, we definitely have plans to increase business in India. At present, SIGMA’s Indian market is increasing dramatically,” he said, adding that India is one of the top 10 markets for SIGMA globally.

However, that does not meet the company is necessarily focusing on increasing its physical footprint.

“We have a reliable and trustworthy partner in India already, so we don’t have the plan to increase the distributors. Together with the current distributor, I believe we can effectively expand our business in India. Having said that, we will focus on the quality of the products and services rather than increasing the volume. As long as we maintain and deliver high-quality services, the volume should follow,” he added.

A family-run business

SIGMA manufactures 100,000-900,000 units per year from its factory in Aizu, Japan. A family-run business, Yamaki said in the 90s or early 2000s they could have moved manufacturing off-shore for lower labour cost, but they decided to stay in Japan to enhance the quality of the product. “Analogue technology requires a lot of experience in the people, so we really need people who have worked for the company for many years. So we decided to stay in Japan,” he said, adding that they decided to remain in Japan also to protect their employees’ jobs.

Surviving the chip shortage

Being a family-owned business, how did Sigma tide over the semiconductor shortage, which is only just showing signs of easing?

Talking about how the lens maker tided over the semiconductor shortage, Yamaki said that the suppliers, with whom the company has good relations for many years, prioritised SIGMA. “Also, the engineers worked hard. If we found that some semiconductor (component) will not be available for a long time, they worked hard to change the design to be compatible with alternative parts. So we did everything to survive in such conditions,” he explained.

Yamaki said it was very challenging and the situation is improving a bit. “Compared to other countries we did better.. We have a relatively flexible production system,” he said.

Also Read: Tech Eagle is the first in the world to transport animal vaccines via drones

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

 Daily Newsletter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Previous Article

Oil Fluctuates as Traders Assess China’s Vow, Unrest in Libya

Next Article

Shanghai residents turn to NFTs to record COVID lockdown, combat censorship

LIVE TV

today's market

index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
Quiz
Powered by
Are you a Crypto Head? It’s time to prove it!
10 Questions · 5 Minutes
Start Quiz Now
Win WRX (WazirX token) worth Rs. 1500.
Question 1 of 5

What coins do you think will be valuable over next 3 years?

Answer Anonymously

Should Elon Musk be able to buy Twitter?

 5 Minutes Read

Unseasonal rains hit chemical and fertilizer sector: Deepak Fertilizers

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

 Listen to the Article (6 Minutes)

Summary

DFPCL posted strong quarterly earnings  with revenue rising 52 percent and margin expanding to over 18 percent. However, there was some weakness when compared sequentially.

[wealthdesk shortname=”Deepak Fert” isinid=”INE501A01019″ bseid=”500645″ nseid=”DEEPAKFERT” sector=”Fertilisers” exchange=”nse”]

The unseasonal and excessive rains impacted the chemical as well as fertilizer sector with a little shift this time, said Shailesh C Mehta, CMD at Deepak Fertilizers and Petrochemical Corporation (DFPCL). He, however, believes that this should even out by the end of the year.

Mehta was referring to the seasonally weak quarter for the chemical segments.

DFPCL posted strong quarterly earnings  with revenue rising 52 percent and margin expanding to over 18 percent. However, there was some weakness when compared sequentially.

Typically, quarter two of the financial year was a lean quarter for the company too.

“The topline of the company has jumped 52 percent and the bottomline has jumped 192 percent over the last year. First half of the year has surpassed the whole of last year. So, from that perspective it is a very strong positive traction that is emerging,” Mehta said.

“The industry has witnessed a huge price hike on the raw material side and the company has been very successful in passing it through to the customers. That is the reason the delta has improved over the last year,” he explained.

The revenues from the ammonia plant are expected to kick in from May 2024.

Once this kicks in, the company is expected to cross the revenue of Rs 15,000 crore in next two-three years. There are three projects, which will aid this revenue going forward, he said.

The peak debt of the company should be around Rs 5,000 crore.

For the full interview, watch the accompanying video

Catch the latest stock market updates with CNBCTV18.com’s blog

Check out our in-depth Market CoverageBusiness News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18CNBC Awaaz and CNBC Bajar Live on-the-go!

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

 Daily Newsletter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Previous Article

Oil Fluctuates as Traders Assess China’s Vow, Unrest in Libya

Next Article

Shanghai residents turn to NFTs to record COVID lockdown, combat censorship

LIVE TV

today's market

index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
Quiz
Powered by
Are you a Crypto Head? It’s time to prove it!
10 Questions · 5 Minutes
Start Quiz Now
Win WRX (WazirX token) worth Rs. 1500.
Question 1 of 5

What coins do you think will be valuable over next 3 years?

Answer Anonymously

Should Elon Musk be able to buy Twitter?

 5 Minutes Read

Rajat Kapoor: I don’t do much preparation, I’m not that kind of an actor

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

 Listen to the Article (6 Minutes)

Summary

In this exclusive interview, the veteran actor talks about his new SonyLIV show Tanaav, working with director Sudhir Mishra after 15 years, why he doesn’t believe in preparing for a role, and considers filmmaking his primary passion and profession.

In the last two years, Rajat Kapoor has featured in five web series and three films,  two of which he has also directed. Ask him how he manages to stay this prolific and he’ll make you believe that acting is a cakewalk, especially when compared to the all-consuming task of filmmaking.

He is currently busy promoting his latest show Tanaav, an action thriller that dares to delve into the thorny subject of Kashmir. Directed by Sudhir Mishra and Sachin Krishn, it is based on the 2015 Israeli television series Fauda. The new SonyLIV series also features Arbaaz Khan, Shashank Arora, and Zarina Wahab in important roles.

In this exclusive interview, Kapoor talks with great candour about Tanaav, working with Mishra after 15 years, shooting with the locals in Kashmir, his love for filmmaking, and why, for him, costume defines a character.

In a career spanning over 30 years, you have done a wide variety of roles. What makes you say yes to a project?

Primarily the script. If the script has value, coherence, some craft, and vision. After that, I look at the role that is being offered and then the director who is going to make it.

Your choices have been really interesting for somebody who has been in the industry for so long. You don’t seem to be too bothered by the scale of the project or the length of your character.

Yea, I don’t get bothered by that. It’s not really about the length of the character. Sometimes it’s interesting to just be a part of a very interesting project if my presence can help it in any way. For me, it’s important to work with people who are passionate about what they are doing. So that also makes a big difference.

Why Tanaav? What made you come on board for this?

Primarily Sudhir Mishra, because he was making it. I wasn’t very sure about this one, I must tell you. Because people from Applause (Entertainment; the studio that has produced Tanaav) approached me first and I’d just done Scam 1992. I didn’t want to play another role that had the danger of being in the same zone. But they kind of convinced me. And then there was Sudhir Mishra directing the show. So I said yes.

How was it working with him?

It was an absolute pleasure. I’d worked with him 15 years ago in Khoya Khoya Chand. And I have known him for 15 years before that. So it was like working with a friend and getting to know them all over again. That was very nice. One can spend hours and hours talking cinema. It’s always very joyous. We were in Jammu and when you’re outdoors, you get to spend more time with your team. We got lots of time to catch up, me and him.

Could you tell me a bit about your role in Tanaav and how did you prepare for it?

The truth is I don’t do much preparation; I’m not that kind of an actor. What does one do to prepare, I really want to know. If you are going to put on 30 kg or lose 10 kg, I understand that. But again, I’m not an actor who can change my body weight. So I admire very much if Aamir Khan puts on 30 kg or Joaquin Phoenix loses 20 kg for Joker; it’s fantastic. But I don’t think I’ve got a role that has demanded of me to do that. And if I got a role like that, would I say yes? I’d probably not. I don’t think I can lose 8 kg or put on 15 kg. I don’t think my body will allow me to do that.

So then how do you prepare for a role? What do you do? I want to know. If I have to learn a new language, maybe yes, that would take some time. Other than that, what? For me, the look becomes very important. What are the clothes the character wears? What kind of face does he have? What kind of hair? For me, very often, the costume defines the character. Costumes make the person.

When I act, I don’t think I’m playing somebody outside of me. For me, this idea itself is flawed that there is a character that exists and you’re going to be him. I really think that’s wrong. Because there is nobody else outside of you. There is no character; it doesn’t exist for you to play it. So how do you prepare for that? There is no such person, no Jagjit Malik (his character in Tanaav) in existence as of now. It’s in somebody’s head. Now what they have done to create that character is written some lines and situations on a piece of paper. The character will be created only when you play it. So for me, it’s about finding that moment within you, and then with the effort of everybody—the costume team, the camera team—together you create someone who becomes Jagjit Malik.

So what is important for me is that you be as authentic as possible in that moment of shooting, that you, the director, and the cameraperson are trying to capture the truth of that moment. If you manage to do that, then I think people say, okay, it was an interesting performance or they felt it or whatever.

But workshops have become a thing lately.

I think most of them are quite silly. I don’t know. I don’t work like this. I don’t believe in this. I don’t believe in backstories being created for actors. It might upset some people if I say it but I think it’s of no importance at all. I don’t want to know the backstory of Jagjit Malik. I don’t care whether he has married five times or not married at all or if his father beat him up as a child. It doesn’t help me. I want to know what he is saying now and how he is saying it. So it’s silly. It doesn’t matter what the backstory is. What is important is that you are in front of the camera now.

So who is this Jagjit Malik?

He is an officer with the intelligence forces. He is what he is; he is doing his job, which is to get intel. And for that, he’ll use whatever means are at his disposal. You know, jaise bolte hai na saam daam dand bhed. By any means possible, he will get what he needs. For more, you’ll have to watch the show.

A lot of it has been shot in Kashmir with the locals. What was the experience like?

Incredible. I think the USP of this show is the faces that Sudhir, Sachin (Krishn; co-director), and the team have managed to get. That brings such authenticity to what it is. Of course, Kashmir and the people are beautiful but when I met the people who are acting in the film, the choices they made with casting, it was stunning. Every character is real. MK Raina sahib, we haven’t seen him in years, and he’s looking so gorgeous. That’s just one face, there are so many. I think that’s really the remarkable part of this series.

Other than acting, you also direct and write for the screen. Of the three, what do you enjoy doing the most?

My primary passion is to make films; that’s what I do. It’s also my primary profession. I also act once in a while but I would say, for example, 90 percent of my time goes into making my film, which means writing it, trying to raise money for it, making it, then trying to sell it, and releasing it. Even after you release it, you are still going around showing the film in small festivals just so that 50 more people will watch it. That is my primary work and I enjoy that very much.

Having said that, acting is a great job. I enjoy it; I love being on a set. It’s a stress-free job for me at least. I have great fun acting. You don’t have to worry about whether the food has come on time or the next shot or if the car is not working; you don’t have to worry about anything. Do your thing, get off, and get a cheque at the end of the day. Wow, what a job.

Even after dedicating 90 percent of your time to making films, how do you continue to remain such a prolific actor?

Because it does not take very long. Unlike making a film which takes about two years straight out of your life, acting takes nothing. Fifteen days of acting and five days of promotion, that’s all it takes sometimes. It looks like you’ve done some substantial work but in actual time, it’s not that much. Unless you’re playing the main role in a big-budget film, then it’s another matter. If you are in a Sanjay Leela Bhansali film, then you have to give 150 days, but even that is just five months, which is nothing compared to how long everyone else spends on the film.

Read other pieces by Sneha Bengani here.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

 Daily Newsletter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Previous Article

Oil Fluctuates as Traders Assess China’s Vow, Unrest in Libya

Next Article

Shanghai residents turn to NFTs to record COVID lockdown, combat censorship

LIVE TV

today's market

index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
Quiz
Powered by
Are you a Crypto Head? It’s time to prove it!
10 Questions · 5 Minutes
Start Quiz Now
Win WRX (WazirX token) worth Rs. 1500.
Question 1 of 5

What coins do you think will be valuable over next 3 years?

Answer Anonymously

Should Elon Musk be able to buy Twitter?

 5 Minutes Read

Deepak Nitrite tracking Europe+1 theme, will take around 6 months to play out

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

 Listen to the Article (6 Minutes)

Summary

Deepak Nitrite’s net profit declined over 30 percent from last year. Revenue increased 17 percent but the growth was capped due to the underperformance of the company’s Phenolics business.

[wealthdesk shortname=”Deepak Nitrite” isinid=”INE288B01029″ bseid=”506401″ nseid=”DEEPAKNTR” sector=”Chemicals” exchange=”nse”]

Shares of Deepak Nitrite fell as much as 10 percent on Thursday after the company reported another weak quarterly performance, which was impacted due to high cost inventory, significantly high energy cost and partial operations in one of its main plants. However, the company is hopeful of a recovery as it is eyeing large outsourcing as well as  market opportunities emerging in the Europe.

According to Maulik Mehta, CEO and ED of Deepak Nitrite, there is a trend to look at Europe+1 theme.

“One cannot underestimate the size of the European chemical industries. A lot of the European companies are looking at outsourcing part or all of their targeted production outside of Europe into countries such as India. Europe is also a large consumer of chemicals and there is also an opportunity,” says Mehta.

Over the next six months, certainly there will be a lot more clarity as far as these opportunities are concerned, he added.

Explaining the quarter that was impacted, Mehta said that;  “In terms of strength, by and large all the segments were strong in terms of volumes. However, price increase was largely on account of significant cost increases.”

According to the company,  India did witness slowdown in demand in the textile segment during the September quarter. However, the company was able to offset this to certain extend by exporting significant volumes where earlier Deepak Nitrite was used as a second supplier and Europe as a primary supplier.

“We were able to get a far larger volumes at about the same times as freight rates were normalising,” the CEO said.

Therefore, the company was able to protect its gross margins at the expense of its percentage, however, the management is bullish in the overall sense about demand for its standalone businesses.

During the 2nd quarter, the company’s net profit declined over 30 percent as compared to the same period a year ago.  Revenue increased 17 percent but the growth was capped due to the underperformance of the company’s Phenolics business.

Revenue from the Phenolics business may have increased 12 percent year-on-year but its operating performance or EBIT more than halved, declining 53 percent from last year to Rs 102 crore. Even when compared to the June quarter, the Phenolics business EBIT was down 45 percent, the company said.

At present, more than half of Deepak Nitrite’s revenue comes from the Phenolics business

For the overall business, the EBITDA also declined 30 percent in the September quarter while margin contracted over 900 basis points to 13.8 percent.

Mehta believes that the price of petrochemicals skyrocketed because of paucity of crude available for cracking and a drop in the demand for phenol because it became a distant second priority. “This is an abnormal situation. Normally you will find both of these moving maybe with a month’s lag but today because of the very high price of benzene,” he said.

While there is a global slowdown, India is a far more growth opportunity than the rest of the world. “Domestic consumption was there, though slower than normal or more cautious than normal, but it allowed us to manufacture at a rate exceeding 120-130 percent while Korea and China were operating at 30-40 percent,” he explained.

The stock was down 8.32 percent in the last one week and 4.64 percent in the past month.

For the full interview, watch the accompanying video

Check out our in-depth Market CoverageBusiness News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18CNBC Awaaz and CNBC Bajar Live on-the-go!

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

 Daily Newsletter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Previous Article

Oil Fluctuates as Traders Assess China’s Vow, Unrest in Libya

Next Article

Shanghai residents turn to NFTs to record COVID lockdown, combat censorship

LIVE TV

today's market

index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
Quiz
Powered by
Are you a Crypto Head? It’s time to prove it!
10 Questions · 5 Minutes
Start Quiz Now
Win WRX (WazirX token) worth Rs. 1500.
Question 1 of 5

What coins do you think will be valuable over next 3 years?

Answer Anonymously

Should Elon Musk be able to buy Twitter?

 5 Minutes Read

Indian steel sector upswing is largely propelled by domestic demand

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

 Listen to the Article (6 Minutes)

Summary

Jindal Steel and Power credits domestic demand for the growth of India’s steel sector on the back of initiatives like Atmanirbhar Bharat and Make in India

[wealthdesk shortname=”Jindal Steel” isinid=”INE749A01030″ bseid=”532286″ nseid=”JINDALSTEL” sector=”Steel – Sponge Iron” exchange=”nse”]

The Indian steel sector is the best among major economies given the “favourable situation” in the country, Jindal Steel and Power Limited’s (JSPL) managing director Bimlendra Jha said on Friday.

He credited domestic demand on the back of initiatives like Atmanirbhar Bharat and Make in India for the growth of the country’s steel industry.

JSPL MD said that steel companies should think from the perspective of partaking in India’s growth story against all the doom visible across the globe.

“There are customers in India who are in the infrastructure and construction space where most of our products go in and that is a booming sector,” he explained and added that JSPL is working very closely with the sector to reap benefits.

He, however, didn’t suggest focusing too much on exports unless it is an opportunity that “makes a lot of sense” from the financial perspective.

Jha’s remarks came after the JSPL’s financial results for the July to September quarter during which the firm’s adjusted EBITDA and standalone EBITDA/tonne came in below Street estimates though topline was better than expectations, even as an exceptional item weighed down profit.

JSPL’s volumes went up by 15 percent and costs declined by 8 percent. However, the net sales realisation slipped by 12 percent. Also, the company made a significant reduction in its inventory from quarter one to quarter two.

Jha believes that cash is a reality and profit is an opinion in the business. “We are focusing on cash and as far as that journey is concerned, we are on a positive territory,” he said.

Also Read: Indian steel is likely to get cheaper than imported ones

JSPL’s net debt declined to about Rs 7,000 crore. However, the company has a large capex lined up. On the existing businesses, the company looking to constantly reduce its need for cash from any external source, which is being reflected in its net debt and gross debt position, he said.

“We are committed to invest in the future and constantly keep our balance sheet healthy enough so that we are able to invest in the right projects at the right time,” he said, adding that the company’s primary goal is to continuously create more value, which could come from brownfield, greenfield or any inorganic opportunity.

For the full interview, watch the accompanying video

Catch the latest stock market updates with CNBCTV18.com’s blog

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

 Daily Newsletter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Previous Article

Oil Fluctuates as Traders Assess China’s Vow, Unrest in Libya

Next Article

Shanghai residents turn to NFTs to record COVID lockdown, combat censorship

LIVE TV

today's market

index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
Quiz
Powered by
Are you a Crypto Head? It’s time to prove it!
10 Questions · 5 Minutes
Start Quiz Now
Win WRX (WazirX token) worth Rs. 1500.
Question 1 of 5

What coins do you think will be valuable over next 3 years?

Answer Anonymously

Should Elon Musk be able to buy Twitter?