Voltas- consumer durables

The construction of the new manufacturing facility is spread over 150 acres

Blue Star

The company will also announce its March quarter and FY23 earnings on Thursday.

Orient Electric- Cloud 3 Fan

As summer sets in with predictions of harsh temperatures, CK Birla firm Orient Electric expects a good growth in revenue in FY24 from its fans and cooler business, MD & CEO Rakesh Khanna said.
With summer approaching, Orient Electric Ltd (OEL) expects a "natural drift" in growth coming from the fan segment, housing segment and the replacement market.
"Lighting will also grow well for us as in B2B, we are growing fast. Coolers, in the last three years, have faced headwinds because of COVID and this is the first year after COVID... Summer is likely to be very good, so cooler is going to do very well," Khanna told PTI.
Asked about early trends from its dealers and channel partners, he said for cooler, growth is taking place. "For fan, January was muted but now it is taking off."
OEL operates in consumer durables, lighting and switchgear products. In 2021-22, its revenue from operations was Rs 2,448 crore.
It has two segments, Electrical Consumer Durables (ECD), which contributed 73 .

air cooler

The Department for Promotion of Industry and Internal Trade (DPIIT) is looking to bring air coolers, bicycles and bottled water dispensers under the quality norms, a move aimed at containing the import of sub-standard goods and boosting the domestic industry.
The department has floated draft control orders (QCOs) for 16 products.
The other light-engineering industry products for which these norms are under consideration include pumps, door fittings, cookware and utensils, electrical accessories, communication cable and water meters.
"All the industry, apex industry/ associations, sectoral industry/ association, regional industry/ association, respective administrative ministries, concerned R & D institutions/ organizations are requested to furnish their comments on the draft QCOs to this department by January 15," it said.
The items under these orders cannot be produced, sold/traded, imported and stocked unless they bear the Bureau of Indian Standards (BIS) mark.
The DPIIT is in .

Launched in October 2006, Croma now has 100 outlets across 20 major cities of India

As per Croma's 'Unboxed Summer 2022' report, sales of refrigerators have shot up more than 100 per cent over 2021, while those of air conditioners (ACs) jumped by three times

Not only are air coolers cheaper than ACs, but also more energy efficient and easier to maintain. Some varieties are portable and most enable user mobility as well

heatwave

This increase in demand amounts to over 28 per cent from April 1, 2022, when the city clocked 4,469 MW power demand

Cooling is hot business for Symphony

The world's largest manufacturer of air-coolers is not only witnessing a spike in share of e-commerce platforms such as Amazon and Flipkart in its domestic sales but also from its D2C website

Notably, the company has also gained share in the inverter AC segment which aided segment margins

Voltas Ltd on Friday reported 24.93 per cent decline in The Tata group firm had posted a consolidated net profit of Rs 128.64 crore for the year-ago period, Voltas said in a regulatory filing

chart

Air conditioners and refrigerators use hydrofluorocarbons, which heat up the earth.

Earth temperature, ACs, high temeperature, summers, hotter summers, Voltas, Blue Star, Johnson Controls-Hitachi, Lloyds, Symphony, Crompton Greaves Consumer Electricals, HSBC Global Research, heat in June, Blue Star and Hitachi, Crompton Greaves Cons

The Tata group firm had posted a consolidated net profit of Rs 81.77 crore in the April-June quarter last fiscal, Voltas said in a regulatory filing.

Symphony launches world's first wall-mounted air cooler

The management expects gross margin on domestic sales for FY22 to be back to normal margin of around 50 per cent

coronavirus

Delhi airport had as many as 80 flight cancellations, infuriating passengers. It would interest you to know that Delhi airport was supposed to handle around 380 domestic flights today

Water purifier

Livpure has also launched smart and energy-efficient air coolers and air conditioners

Air cooler makers are expecting a double-digit growth in sales this season, led by north and central Indian market as acute heat wave continues across the country.
Branded air cooler makers are offering latest technologies which include IoT (Internet of Things), touch digital control panel, multistage air purification, high efficiency cooling pads, intelligent remote, anti-bacterial tank in several sub-categories such as personal, window, tower and desert air coolers.
Besides, they are also spending a good amount on branding to promote their products.
Air cooler makers expect a shift in leading markets with a huge replacement demand for branded coolers.
"This year the market is showing higher traction, compared to last year, due to a strong summer, and is expected to grow in double digit," Voltas MD & CEO Pradeep Bakshi told PTI.
He further said: "The market for air cooler in west and south is growing faster. However, the volumes are more in north and central India."
Echoing the 

Stocks to watch on Thursday, September 28 2023: Telecom stocks too may see some action after Trai data for July showed considerable new subscriber additions for Jio and Airtel; and loss of market shar

BSE, stock market, sensex

Closing Bell on September 28, 2023: 
Tech M, which sank 4 per cent, was the top laggard on the benchmarks after Morgan Stanley downgraded the stock to 'underweight'

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Vedanta Ltd.'s parent, Vedanta Resources, will remain the holding company, the people said. Deliberations are ongoing and no final decisions on the structure or timing of the de-merger have been made

Vedanta refinery

As markets anticipate inclusion of the debt in other indexes, including the Bloomberg Global Aggregate, the flows could rise to $50 billion by the end of next year

ICICI Bank

RBI says widening due to higher trade deficit, lower surplus in net services and decline in private transfer receipts

current account deficit

Here is the best of Business Standard's opinion pieces for today

Trade talks

According to Ravi Nathani, an independent technical analyst, one should adopt a 'Buy on Dips' strategy for Nifty Private Bank index, while a 'Sell on Rise' strategy in case of the PSU Bank index.

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Former bureaucrat Amit Khare was on Monday given extension as advisor to Prime Minister Narendra Modi, a Personnel Ministry order said.
He was appointed to the post for two years in October 2021.
Khare, a 1985-batch (retired) Indian Administrative Service (IAS) officer of the Jharkhand cadre, had superannuated on September 30, 2021. He last served as the higher education secretary.
The Appointments Committee of the Cabinet (ACC) has approved the extension in Khare's tenure, on contract basis on the usual terms and conditions as are applicable in the case of re-employed officers of secretary-level in the government of India, beyond October 12, 2023 for a period "co-terminus with the term of Prime Minister", the order said.
In another order, the ACC has approved the extension in tenure of Rajesh S Gokhale as secretary, Department of Biotechnology, for a period of two years -- with effect from November 1, 2023.

Amit Khare

NGOs registered under the Foreign Contribution Regulations Act (FCRA) will now have to provide details of moveable and immovable assets created by them using foreign funds.
The need for mandatory declaration of assets by the NGOs by the end of every financial year (March 31) came after the Ministry of Home Affairs (MHA) on Monday issued a gazette notification modifying the rules that govern the NGOs which receive foreign funding.
According to the law, all NGOs receiving foreign contributions have to be registered under the FCRA.
The MHA made the changes in the Foreign Contribution Regulation Rules, 2010, by inserting two clauses -- (ba) details of movable assets created out of foreign contribution (as on March 31 of financial year) and (bb) details of immovable assets created out of foreign contribution (as on March 31 of financial year) -- in Form FC-4.
Form FC-4 is filled by NGOs and associations granted FCRA licences for filing their annual returns.
The MHA also decided to exte

Foreign funds

The Biden administration announced Monday that it is offering a $2 billion loan to Poland, which has been a hub for weapons going into Ukraine, to support the ally's defense modernisation.
The State Department said in a statement that Poland is a stalwart ally of the U.S. whose security is vital to the collective defense of NATO 's eastern flank, and that such funding is reserved for Washington's most important security partners.
The U.S. government is also providing Warsaw up to $60 million for the cost of the loan in Foreign Military Financing (FMF) which would support urgent procurements of defense articles and services from the United States, the State Department said. The $60 million is a loan subsidy meant to ensure that Warsaw can secure favourable terms for the loan.
Poland has been a staunch supporter of Ukraine since Russia's full-scale invasion of the country, handing over large numbers of its own tanks, fighter jets and other equipment. It has also been a hub for most of

poland flag

International credit agency Moody's Investors Service has made sweeping assertions against Aadhaar without citing any evidence, the Unique Identification Authority of India (UIDAI) said on Monday.
The UIDAI issued a strong rebuttal to Moody's Investors Service which claimed that the Aadhaar system often results in service denials and the reliability of biometric technologies, especially for manual labourers, in hot and humid climates is questionable.
"A certain investor service has, without citing any evidence or basis, made sweeping assertions against Aadhaar, the most trusted digital ID in the world. Over the last decade, over a billion Indians have expressed their trust in Aadhaar by using it to authenticate themselves over 100 billion times," the UIDAI said in a statement.
The unique id Aadhaar's custodian said that the report in question does not cite either primary or secondary data or research in support of the opinions presented in it.
"The investor service did not make any

Adhaar, UIDAI

Is inflation hurting FMCG companies' pockets? Can Indian e-gaming survive the tax demand? Is it time to book profit in real estate stocks? Why has the Cauvery dispute flared up again? Answers here

A (then) pan-masala chomping man notorious for putting down management theories, strategic thinking, and all the stuff that agencies thought was going to save them

Piyush Pandey

Tata Steel on Thursday said it has signed an agreement with Indian Oil Corporation Limited and its business associate to further reduce carbon footprint at its Ferro Alloys plant.
The agreement encompasses LPG supply, installation of LPG facilities, and the operation and maintenance of the same at the company's Ferro Alloys Plants in Gopalpur of Ganjam and Athagarh of Cuttack districts in Odisha, the steel major said in a statement.
Tata Steel has decided to transition from Furnace Oil and High-Speed Diesel to a more sustainable fuel option - Liquified Petroleum Gas (LPG) in response to the pressing environmental concerns and the global imperative to reduce carbon emissions.
This eco-friendly move is expected to bring about a considerable reduction in carbon emissions, it said.
Tata Steel's Ferro Alloys and Minerals Division Executive-In-Charge Pankaj Satija said, "The agreement, which is a part of our sustainability initiatives, will help us in reducing the carbon footprint at our

tata steelwork, tata, tata group

Normal life is likely to be affected, especially in the southern part of the state, with pro-Kannada and farmers' organisations calling for Karnataka Bandh' on Friday to protest the release of Cauvery water to Tamil Nadu.
Kannada Okkuta', an umbrella organisation for Kannada outfits including factions of Karnataka Rakshana Vedike, Kannada Chalavali (Vatal Paksha) and various farmers' bodies have given a call for the statewide dawn-to-dusk shutdown.
There will be a massive protest procession from Town Hall to Freedom Park in the city, in which people from all walks of life are likely to participate, the organisers said.
They have said that the bandh is for the entire Karnataka and that they will try to shut highways, toll gates, rail services, and also airports.
The opposition BJP and JD(S) too have extended their support to the bandh, as also hotels, autorickshaws and hail riders associations in Karnataka.
"Autorickshaw Drivers' Union and Ola Uber Drivers and Owners' Association .

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India's top 75 brands have a combined brand value of $379 billion, a decline of 4 per cent from 2022

Indian Army's Regiment of Artillery is looking to use the expertise of Indian Industry to produce 155 mm/52 calibre Towed Gun System

Air Coolers

Voltas Tamil Nadu facility plan on track, to invest Rs 500 cr for room ACs

Blue Star jumps 5% on plans of bonus shares; board meet on May 04

Orient Electric expects good growth from fans, coolers as summer approaches

DPIIT considering quality control norms for air coolers, water dispensers

Cooling items in hot demand; refrigerator, AC sales jump: Croma report

Air coolers to beat the heat and maintain room freshness wherever you are

Heatwave pushes Delhi's power demand to 5,735 MW, highest ever in April

Symphony bets on e-commerce, D2C for resurgent summer sales of air-coolers

Voltas third quarter consolidated net profit down 25% to Rs 97 crore

How air cooling technologies are making rising global temperature worse

Voltas Q1 net up nearly 50% to Rs 122 cr; revenue up 36% to Rs 1,860 cr

Symphony dips 5% on disappointing Q1 results

AC major Blue Star hopeful of improving business from second quarter

Here's how the first day of resumption of domestic flights panned out

Livpure to launch two new products in water purifier segment in FY21

Heat wave fans business for air coolers; companies expect sale to double