UltraTech Cement, the country’s premier cement manufacturer whose share price ₹10,165.60, has disclosed a robust expansion strategy, earmarking a capital expenditure of ₹32,400 crore over the next three years. This investment seeks to elevate its production capacity to approximately 200 million tonnes per annum (MTPA), further cementing its market dominance. The initiation of two Greenfield projects in Chhattisgarh and Tamil Nadu, contributing an added 5.4 MTPA, is poised to raise the company’s total capacity to 151.6 MTPA. These are part of UltraTech’s extensive expansions at 16 sites, which are set to augment its capacity by 35.5 MTPA.
Parallely, Zee Entertainment’s CEO, Punit Goenka, has opted for a voluntary 20% salary cut as a testament to the company’s broader initiative towards cost efficiency. There share price is ₹155.55 and by adopting a grounded approach to financial stewardship, Goenka’s gesture highlights his resolve to lead from the front. This step aligns with the company’s agenda to streamline its operations in anticipation of future growth.
On the financial services front, Mahindra and Mahindra Financial Services has shared optimistic performance forecasts for FY 2023-24 and reached at price point of ₹293.25, underscored by a 13% year-on-year surge in disbursements. This growth reflects the firm’s solid market position and operational prowess.
Moreover, JSW Energy with share price ₹554.60 is poised to raise ₹5,000 crore through a Qualified Institutional Placement (QIP), targeting affluent investors. While the precise allocation of the proceeds is yet to be disclosed, this strategic endeavor is expected to fuel the company’s growth ambitions.
Elsewhere, Zomato confronts a regulatory hurdle with a service tax demand exceeding ₹184 crore for the period from October 2014 to June 2017. The company has resolved to contest the order, indicating impending legal confrontations.
These unfolding events mirror the vibrant dynamism within India’s corporate sector, underscoring firms’ endeavors to navigate challenges, bolster growth, and adhere to economic sensibility in a fiercely competitive environment.
