Sunday, October 18
Alcoholic beverage (alcobev) manufacturers in the country will see revenue grow 8-10% to Rs 5.3 lakh crore in fiscal 2026, keeping up momentum after a compound annual growth rate (CAGR) of 13% over the three preceding fiscals, said a Crisil report. The operating profitability will increase 60-80 basis points (bps), supported by continuing premiumization. Consequently, credit profiles will remain strong, driven by healthy accruals, deleveraged balance sheets, and absence oflarge debt-funded capital expenditure (capex).A study of 25 liquor companies, accounting for about 12% of the organised alcobev industry revenue, indicates as much. The industry is dominated by spirits, which contribute 65-70% of total revenue, with the remaining coming from beer, wine and country liquor. Spirits are alco
Pune-based auto component manufacturer Belrise Industries has fixed the price band for its Rs 2,150 crore initial public offering (IPO) at Rs 85–90 per share. The IPO will open for subscription on May 21 and close on May 23, with anchor bidding scheduled for May 20.Investors can bid for a minimum of 166 equity shares and in multiples thereafter.This will be the third mainboard IPO of the current financial year, following Ather Energy and Borana Weaves.The entire issue comprises a fresh offer of 23.89 crore equity shares, with no offer-for-sale (OFS) component. Of the total offer, 50% is reserved for qualified institutional buyers (QIBs), 15% for non-institutional investors (NIIs), and 35% for retail investors.Belrise plans to utilise Rs 1,618.1 crore from the net proceeds to repay debt,
IndusInd Bank on Thursday stated that a whistleblower had complained regarding the "other assets" and "other liabilities" entries in the book of the bank, following which the audit committee of the Hinduja-promoted lender reviewed these transactions.The bank stated that unsubstantiated balances aggregating to ₹595 crore in "other assets" accounts of the bank were set off against corresponding balances appearing in "other liabilities" accounts in January 2025. The bank also disclosed that with regards to the microfinance loan book, a cumulative amount of ₹674 crore was incorrectly recorded as interest over three quarters of FY24-25, which was fully reversed as on January 10, 2025.The disclosures were made by the bank in response to an ET report on Thursday that a whistleblower letter ha
Kolkata consumers have major reasons for cheer just ahead of the oncoming wedding season as prices of gold, a staple in Indian marriages, have fallen quite a bit -- by almost Rs 9,000 per 10 grams. Till about three weeks ago, the precious metal was ruling at around Rs 1,00,000 not just in Kolkata but in other cities too.Over the past 24 days, the steep price reset has brought gold down to Rs 91,750/10 grams levels (May 15 price data).This significant drop, one of the most considerable in recent history, has offered major respite to consumers just as the wedding season approaches, The Times of India reported. On April 21, the price of 10 grams of 24 carat gold surpassed the Rs 1 lakh threshold for the first time. The price continued to rise in the following days leading up to Akshay Tritiya
