Red Sea Diversions Emit Carbon Equal to 9 Million Cars

ICRA predicts 4-6% growth in FY25 tyre sales

Icra stated that domestic tyre sale volumes are expected to experience a moderate growth of 4-6 per cent in this fiscal year, following an estimated pace of 6-8 per cent in the previous financial year. The growth in the last fiscal, it was said, had been driven by factors such as elevated base and subdued growth in the commercial vehicle (CV) segment. However, Icra anticipated that domestic demand from original equipment manufacturers (OEMs) in certain consumer segments like PV (passenger vehicle) and two-wheeler, as well as for replacement, would remain healthy, supporting overall tyre volume..

Kajaria Ceramics: Q4 FY24 sees 5.2% slide in net profit

Due to rising expenses and sluggish demand, Kajaria's consolidated net profit decreased 5.2% year over year to Rs 1.02 billion in the fourth quarter. LSEG data shows that analysts had anticipated earnings to increase to Rs 1.26 billion on average.

Kajaria Ceramics, the top tile manufacturer in India, releases results for the January March quarter. Analysts suggest that the Red Sea crisis dampened exports and that there was little domestic demand for tiles during the January March quarter. In the first three quarters of fiscal 2024, the tile industry had very little volume increase,..

Maersk: Red Sea impact reduces Q2 capacity by 15%-20%

Maersk stated that the disruption to container shipping traffic in the Red Sea was worsening and was expected to decrease the industry's capacity between the Far East and Europe by approximately 15%-20% in the second quarter. Last week, the company, seen as a gauge of world trade, had mentioned that shipping disruptions caused by attacks on vessels in the Red Sea by Houthi militants are anticipated to persist at least until the year's end.

According to Maersk's advisory to customers, the risk zone had expanded, and attacks were extending further offshore. The company mentioned that thi..

Indian container cargo set to expand by 8% in FY25 amidst Red Sea crisis

CareEdge Ratings forecasts that Indian container cargo volume will experience an 8% growth, reaching 342 million tonnes (mt) in FY25. They also anticipate the risk of a prolonged Red Sea crisis. In a sectoral report, the agency mentions that the connection of the Dedicated Freight Corridor to Jawaharlal Nehru Port Trust (JNPT) in FY26, coupled with capacity expansions by ports, will likely propel the growth in container volumes in the medium term. According to the report, significant adverse movements in charter rates affecting cargo volumes, as well as vessel additions by shipping lines, will..

Nalanda Capital Sells Stake in Great Eastern Shipping

Nalanda Capital has divested a 1.4% stake in Great Eastern Shipping, a prominent player in the ports and shipping industry, for a total sum of Rs. 1.90 billion. This move comes amidst evolving market dynamics and reflects Nalanda Capital's strategic realignment of its investment portfolio.

The sale of shares in Great Eastern Shipping represents a calculated decision by Nalanda Capital to optimise its investment holdings and capitalise on market opportunities. The transaction, valued at Rs. 1.90 billion, underscores the investor's confidence in realising returns while maintaining flexibi..