On A Roll!
In 2023, the India Off-the-Road Tyre (OTR) Market Report by IMARC captured the growing OTR/construction tyre industry as the market size reached 11.3 million units. Just as two or more wheels move the automotive sector, the use of OTRs tyres, utilised for large-scale machinery at construction, mining and other sites with no roads, is growing owing to increasing infrastructural, construction, mining, agriculture and forestry activities.
India’s off-highway tyre market is designed for heavy equipment used in the construction industry and able to withstand harsh conditions such as roug..
Gatishakti: Five key infra projects recommended
The Prime Minister's ambitious infrastructure initiative, Gatishakti, has taken a significant step forward with the recommendation of five key projects for approval. These projects, spanning various sectors crucial for India's development, were proposed during the recent meeting of the National Infrastructure Pipeline Task Force. The projects recommended for approval encompass diverse areas such as road construction, urban development, and energy infrastructure.
One of the highlighted projects is the development of an expressway connecting Delhi with Dehradun. This strategic road link..
India's National Infrastructure Pipeline Set at Rs 109 trillion
In a significant development, India revealed its National Infrastructure Pipeline with a whopping outlay of Rs 109 trillion, underscoring the government's dedication to catalysing urban infrastructure development. The substantial investment is poised to play a pivotal role in fostering economic growth and addressing the burgeoning infrastructure needs of the nation.
The National Infrastructure Pipeline encompasses a diverse range of projects across urban and rural areas, spanning sectors such as transportation, energy, water resources, and social infrastructure. This comprehensive appr..
L&T subsidiary opens new manufacturing unit in Saudi Arabia
L&T Valves Ltd., a subsidiary of Larsen & Toubro, established a new manufacturing plant in Al Jubail, Saudi Arabia, next to the Dammam-Abu Hadriyah Highway. One of Saudi Arabia's main providers of on-off valves is L&T Valves.
The manufacturing facility is being opened with the intention of satisfying the increasing demand from the Middle East. In keeping with Saudi Vision 2030, Anil V. Parab, Whole-time Director and Senior Executive Vice President, Heavy Engineering and L&T Valves, emphasised that the new facility will greatly improve local manufacturing capabilities..
LIC Housing Finance net profit dips 9.14% in Q4 of FY24; Rs 10.8206 bn
LIC Housing Finance disclosed a 9.14 % decline in its net consolidated profit for the quarter ending March 31, 2024. Its profit after tax reached Rs 10.8206 billion in Q4 FY24, down from Rs 11.9088 billion in the corresponding period of the previous fiscal, as per the company's filing with BSE. The net consolidated total income for Q4 FY24 amounted to Rs 69.4861 billion, marking an 8.04% increase from Rs 64.3123 billion in the same quarter last year.
Tribhuwan Adhikari, MD & CEO said, "Our focus on reduction in NPA and control over cost of funds have enabled us to close the year with a..