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<ul><li>Among Sensex shares, <keyword id="6357147" type="General" weightage="50" keywordseo="tata-steel" source="Orion">Tata Steel</keyword>, Larsen &amp; Toubro, ICICI Bank, HCL Technologies, <keyword id="6354512" type="General" weightage="50" keywordseo="infosys" source="Orion">Infosys</keyword> and Axis Bank were among the winners.</li><li>Bharti Airtel, Hindustan Unilever, IndusInd Bank, HDFC and Bajaj Finance were among the laggards.</li><li>The market was also bolstered by expectations on Q2 results session, with improvement in sectors like metal, IT, and realty. </li></ul> <keyword id="2825469" type="General" weightage="50" keywordseo="benchmark-bse-sensex" source="Orion">Benchmark BSE Sensex</keyword> rose by 156 points while the <keyword id="6354813" type="General" weightage="80" keywordseo="nifty" source="Orion">Nifty</keyword> closed above the 17,300 level on Thursday after gains in metal, IT and capital goods shares amid foreign capital inflows. Rising for the second straight session, the 30-share <keyword id="35140" type="General" weightage="80" keywordseo="bse" source="Orion">BSE</keyword> benchmark advanced 156.63 points or 0.27 per cent to settle at 58,222.10. The index opened higher and later jumped 513.29 points or 0.88 per cent to a day's high of 58,578.76 on gains in metal, FMCG, IT and oil stocks. However, profit booking in select banking and teck stocks in the closing session trimmed the gains. The broader <keyword id="372424" type="General" weightage="50" keywordseo="nse-nifty" source="Orion">NSE Nifty</keyword> advanced 57.50 points or 0.33 per cent to end at 17,331.80 as 27 of its shares ended in the green. Among Sensex shares, Tata Steel, Larsen &amp; Toubro, ICICI Bank, HCL Technologies, Infosys and Axis Bank were among the winners. However, Bharti Airtel, Hindustan Unilever, IndusInd Bank, HDFC and Bajaj Finance were among the laggards. <keyword id="224336" type="General" weightage="50" keywordseo="vinod-nair" source="Orion">Vinod Nair</keyword>, Head of Research at Geojit Financial Services said, "The Indian market is maintaining its resilience despite mixed cues from global equities and surging oil prices. Both domestic and foreign investors are supporting the rally." The market was also bolstered by expectations on Q2 results session, with improvement in sectors like metal, IT, and realty, Nair added. "Weakness in European indices and <keyword id="90570" type="General" weightage="50" keywordseo="sgx-nifty" source="Orion">SGX Nifty</keyword> slipping into the red prompted investors to cut their bullish bets. But key domestic benchmarks still ended in the green thanks to traders betting big on IT, metal and realty stocks. "However, inflationary concerns worldwide and central banks hiking interest rates persistently has spooked markets and kept investors on tenterhooks on worries of a global slowdown," <keyword id="131488" type="General" weightage="50" keywordseo="shrikant-chouhan" source="Orion">Shrikant Chouhan</keyword>, Head of Equity Research (Retail), Kotak Securities Ltd, said. In the broader market, the BSE smallcap gauge jumped 1.30 per cent and midcap index climbed 1.13 per cent. Among the BSE sectoral indices, metal jumped 3.89 per cent, capital goods (2.34 per cent), realty (2.15 per cent), industrials (1.96 per cent), commodities (1.67 per cent) and power (1.61 per cent). FMCG and telecommunication were the laggards. Elsewhere in Asia, markets in Seoul and Tokyo ended higher, while Shanghai and Hong Kong settled lower. Stock exchanges in Europe were trading in the negative territory in mid-session deals. The US markets ended marginally lower on Wednesday. The domestic equity markets were closed on Wednesday for the Dussehra festival. In the previous session on Tuesday, the BSE benchmark had jumped 1,276.66 points or 2.25 per cent to settle at 58,065.47. The Nifty rallied 386.95 points or 2.29 per cent to end at 17,274.30. Meanwhile, the international oil benchmark Brent crude futures climbed 0.14 per cent to 93.50 per barrel. Foreign institutional investors were net buyers as they bought shares worth Rs 1,344.63 crore on Tuesday, according to data available with BSE. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/pepsicos-quaker-oats-cuts-down-sugar-content-by-30-to-make-breakfast-cereals-more-healthy/articleshow/94684033.cms">PepsiCo’s Quaker Oats cuts down sugar content by 30% to make breakfast cereals more healthy</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/world-bank-downgrades-indias-economic-growth-forecast-to-6-5-for-fy23/articleshow/94684137.cms">World Bank downgrades India's economic growth forecast to 6.5% for FY23</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/banks/news/bank-of-baroda-enables-digital-loans-through-the-account-aggregator-framework-heres-what-it-means-and-how-to-use-it/articleshow/94683894.cms">Bank of Baroda enables digital loans through the Account Aggregator framework – here’s what it means and how to use it</a>

Sensex gains 156 points led by metal, IT and capital goods amid foreign capital inflows

<div style="float: right; margin: 15px 0 20px 20px;"><table border="0" cellspacing="0" cellpadding="0"><tbody><tr><td colspan="2"><a href="https://static-ssl.businessinsider.com/category/chart-of-the-day"> </div></div></div> <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/nationwide-insurance-industry-loss-ratio-2015-2">Nationwide's Super Bowl commercial about dead children is about corporate profits ... in a way that we can all appreciate</a></h3> <div> <div> <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="9rbTk0czrPq8J40cVbMQn_BvP7NgiiIY" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div> </div> </div> </div>

The oil sector is destroying overall capital goods spending

In the ongoing “<keyword id="6354869" type="UNKNOWN" weightage="100" keywordseo="make-in-India">Make In India</keyword>” week, the government has introduced a National <keyword id="3072376" type="UNKNOWN" weightage="100" keywordseo="capital-goods-policy">Capital Goods Policy</keyword> to encourage the capital goods sector and ensure its active participation in the Make in India initiative. 
 The policy was unveiled by <keyword id="311415" type="PERSON" weightage="100" keywordseo="Anant-Geete">Anant Geete</keyword>, the Union Cabinet Minister for Heavy Industries and Public Sector Enterprises. Geete said that the policy was a part of the government’s plans to turn India into a world class hub for capital goods. 
 
The policy has been launched with an objective of increasing production of capital goods to Rs. 7.50 lakh crore by 2025. In 2014-15, the production was Rs. 2.30 lakh crore. It also aims to raise direct and indirect employment in the capital goods sector from the current 8.4 million to 30 million. 
 
With the launch of the policy and its correct implementation, India can become a net exporter of capital goods and with improved technology across sub-sectors. It will also increase the skill availability, while ensuring mandatory standards and promoting growth and capacity building of MSMEs. 
 
Mr. Geete was addressing a seminar on capital goods sector which was organized by the Confederation of Indian Industry (CII) in partnership with Department of Industrial Policy and Promotion (DIPP) and the Government of Maharashtra. 
 
The policy recommends strengthening DHI’s existing scheme on enhancement of competitiveness of capital goods sector; this would be done by increasing the budgetary allocation and scope of the scheme which would further enhance the global competitiveness in various sub sectors of the capital goods industry. 
 
Another scheme called Heavy Industry Export and Market Development Assistance Scheme (HIEMDA) would be launched for increasing the export of Indian made capital goods. 
 
"The capital goods sector is currently going through many challenges and issues and to address those challenges, the government has launched the comprehensive policy document, the National Capital Goods Policy, today," Mr Geete addressed the reporters at the 'Make in India Week' seminar yesterday. 
 
<a href="https://www.google.co.in/search?q=heavy+industries+india&amp;biw=1366&amp;bih=667&amp;tbm=isch&amp;source=lnms&amp;sa=X&amp;ved=0ahUKEwjF8O2gmPzKAhXFNJQKHXIMDjQQ_AUICCgC&amp;dpr=1#q=heavy+industries+india&amp;tbm=isch&amp;tbs=isz:l&amp;imgrc=pWH3G-D1HPWveM%3A">Image source</a>

Ahead of Budget 2016, first-ever policy for capital goods introduced

The year 2023 has witnessed huge <keyword id="6355120" type="General" weightage="20" keywordseo="investment" source="Orion">investment</keyword> by FPIs thanks to the sharp uptick in flows in December, says V K Vijayakumar, Chief Investment Strategist at Geojit <keyword id="6354241" type="General" weightage="20" keywordseo="financial-services" source="Orion">Financial Services</keyword>. <keyword id="725142" type="General" weightage="20" keywordseo="fpi" source="Orion">FPI</keyword> inflows which were negative in the previous 3 months have sharply turned positive in December with total buying of Rs Rs 66134 crores. This figure includes the buying through stock exchanges and investment in the primary market. The total FPI inflows in 2023 stand at Rs 171106 crores, he said. The steady decline in <keyword id="476164" type="General" weightage="20" keywordseo="us-bond-yields" source="Orion">US bond yields</keyword> has caused this sudden change in the strategy of FPIs. In December, FPIs were big buyers in financial services which explains the resilience of this segment in December. FPIs also bought in sectors like <keyword id="6425437" type="General" weightage="20" keywordseo="autos" source="Orion">autos</keyword>, <keyword id="81793" type="General" weightage="20" keywordseo="capital-goods" source="Orion">capital goods</keyword> and telecom. Since 2024 is expected to witness further declines in U.S. interest rates, FPIs are likely to increase their purchases in 2024 too, particularly in the early months of 2024 in the run up to the General elections, he said.

Huge investments by FPIs in 2023 at Rs 1.71 lakh crore

<keyword id="725142" type="General" weightage="20" keywordseo="fpi" source="Orion">FPI</keyword> <keyword id="48677" type="General" weightage="20" keywordseo="inflows" source="Orion">inflows</keyword>, which were negative in the previous three months, have sharply turned positive in December, says V.K. Vijayakumar, Chief Investment Strategist at Geojit <keyword id="6354241" type="General" weightage="20" keywordseo="financial-services" source="Orion">Financial Services</keyword>. Total FPI inflows in December through 22nd is Rs 57,313 crore including the buying through stock exchanges and primary market. The steady decline in the <keyword id="476164" type="General" weightage="20" keywordseo="us-bond-yields" source="Orion">US bond yields</keyword> have caused this sudden change in the strategy of FPIs, he said. FPIs were big buyers in financial services. This explains the resilience of this segment in recent days. FPIs also bought in sectors like <keyword id="6425437" type="General" weightage="20" keywordseo="autos" source="Orion">autos</keyword>, <keyword id="81793" type="General" weightage="20" keywordseo="capital-goods" source="Orion">capital goods</keyword> and telecom, he said. Since 2024 is expected to witness further declines in the US interest rates, FPIs are likely to increase their purchases in 2024 too.

FPIs big buyers in financial services

The Supreme Court has dismissed the customs department appeal against <keyword id="76451" type="General" weightage="100" keywordseo="adani" source="Orion">Adani</keyword> Power Maharashtra Ltd. (<keyword id="334816" type="General" weightage="80" keywordseo="apml" source="Orion">APML</keyword>), Adani Power Rajasthan Ltd. (<keyword id="14511074" type="General" weightage="80" keywordseo="aprl" source="Orion">APRL</keyword>) and others in alleged over-valuation of imported goods matter. A bench comprising Justices Krishna Murari and <keyword id="1726232" type="General" weightage="50" keywordseo="sanjay-karol" source="Orion">Sanjay Karol</keyword>, after hearing detailed arguments in the matter from both sides, dismissed the appeal filed by the customs department against APML, APRL and others. According to the counsel familiar with the development, the apex court found that the project cost of APML and APRL was either similar or lower than the price of peers/competitors. The counsel added that the price was lesser than the benchmark per megawatt cost fixed by Central Electricity Regulatory Commission (CERC) and the contract was an EPC contract awarded to the lowest bidder following worldwide bidding called International Competitive Bidding (<keyword id="318416" type="General" weightage="80" keywordseo="icb" source="Orion">ICB</keyword>). According to the counsel, the apex court upheld the findings of both the lower authorities, i.e., adjudicating authority as well as appellate tribunal and confirmed that there was no overvaluation in import of capital goods. The top court dismissed the custom's appeal on Monday. APML &amp; APRL following ICB, imported goods required for setting up of thermal power projects in Maharashtra and Rajasthan. Likewise, consortium led by PMC Projects (India) pvt. ltd., which was awarded the contract following ICB, imported goods for setting up of transmission line and substation package for Maharashtra Eastern Grid Power Transmission Co. Ltd. (MEGPTCL). The Directorate of Revenue Intelligence (DRI), in May 2014, issued show cause notices (SCNs) to APML, APRL, MEGPTCL and others alleging over-valuation in import of capital goods. The adjudicating authority of DRI in 2017, the same authority which issued the SCNs after dealing with it in detail, held that all the imports were genuine and concluded that the value declared is correct and is not required to be re-determined. Later, SCNs were dropped. In 2022, the appellate tribunal dismissed the plea filed by the customs department and confirmed that there was no overvaluation while importing the equipment by Adani. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/fashinza-raises-30-million-from-mars-growth-capital-and-liquidity-group/articleshow/99057241.cms">Fashinza raises $30 million from Mars Growth Capital and Liquidity Group</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/indias-covid-cases-show-a-slight-drop-with-only-1539-new-infections-and-four-deaths-in-the-last-24-hours/articleshow/99057573.cms">India's Covid cases show a slight drop, with only 1,539 new infections and four deaths in the last 24 hours</a>

SC dismisses custom's plea claiming overvaluation in import of capital goods by Adani

New Delhi, Dec 16 () Union Minister Dharmendra Pradhan on Monday urged global capital goods companies to set up manufacturing units in the country.
Indian steel sector is in expansion mode, the steel minister said while pointing out that capital goods worth Rs 10 lakh crore will be required in setting up new capacities by 2030.
As per the National Steel Policy 2017, India has an ambitious target of ramping up capacity to 300 million tonne.
The industry must take a note of what other countries are doing when it comes to import of steel, Pradhan said while addressing domestic steel and mining players at CII India Steeling Summit here.
Citing an example, he said JSW Steel has set a steel plant in the US to sell its products there.
"Then why should we alow outside steel to come in India. We need to think in this direction. Capital goods worth Rs 10 lakh crore will be required by 2030 to ramp up capacity to 300 MT. It is our responsibility now to ask those companies from whom we buy capital goods, those technology companies to set up manufacturing units In India," the minister said.
India does not want manufacturing of machinery outside the country and just assembly process in the country.
"If you people will ask them, they will agree as where will the capital goods manufacturers will get such a huge market, such huge orders. It is India where capacities in such a big number is going to come. In no other country, such kind of growth will be seen in steel sector, so why not leverage it," Pradhan said.
The recently launched Steel Import Monitoring System (SIMS), he said, is a "weapon" developed by the Commerce and Industry Ministry and sought industry's collective support in achieving the objectives of the new system.
SIMS provides to government and other stakeholders, including producers and consumers, advance information about steel imports to have effective policy interventions. ABI BAL
BAL

Pradhan asks global capital goods manufacturers to set up units in India

<div type="image" title="grocery store cashier coronavirus" height="1333" width="2000" msid="76292634" hostid="261"></div><ul class="summary-list"><li>The Harris Poll and <keyword id="9375000" type="UNKNOWN" weightage="60" keywordseo="just-capital">Just Capital</keyword>, an independent research firm founded by the billionaire investor Paul Tudor Jones, <a href="https://justcapital.com/reports/survey-what-americans-want-from-corporate-america-during-the-response-reopening-and-reset-phases-of-the-coronavirus-crisis/">surveyed 1,000 people</a> on their thoughts about capitalism amid the <keyword id="1754604" type="PERSON" weightage="60" keywordseo="coronavirus">coronavirus</keyword> pandemic.</li><li>Only 25% of respondents said they believed that our current form of capitalism ensures the greater good of society.</li><li>More Americans are calling for reform, such as higher wages for hourly and contract employees, as well as health insurance for all workers.</li><li>This post is part of Business Insider's ongoing series on <a href="https://www.businessinsider.com/better-capitalism/">Better Capitalism</a>.</li></ul>More people are calling capitalism into question amid the coronavirus pandemic, a new survey shows.In May, the Harris Poll and Just Capital, an independent research firm founded by the billionaire investor Paul Tudor Jones, <a href="https://justcapital.com/reports/survey-what-americans-want-from-corporate-america-during-the-response-reopening-and-reset-phases-of-the-coronavirus-crisis/">surveyed 1,000 people</a> on their thoughts about capitalism amid the pandemic. Only 25% of respondents said they believed our current form of capitalism ensures the greater good of society.For many this doesn't come as a surprise. Prominent voices ranging from <a href="https://www.businessinsider.com/harvard-economist-now-is-time-for-business-leaders-reimagine-capitalism-2020-5">a top Harvard economist</a> to the billionaire hedge-fund manager <a href="https://www.businessinsider.com/jamie-dimon-mark-cuban-ray-dalio-billionaires-inequality-coronavirus-2020-5">Ray Dalio</a> have warned that capitalism would soon face a crisis because of the massive <keyword id="6411412" type="UNKNOWN" weightage="60" keywordseo="inequality">inequality</keyword> exposed by the pandemic.Temporary hazard pay has shown how little grocery employees, food-delivery workers, and other essential workers are being paid (not to mention that many don't get health insurance). The national closure of childcare centers also laid bare the <a href="https://www.businessinsider.com/pandemic-child-care-closures-could-be-terrible-for-womens-careers-2020-5">unpaid work women</a> do in the household. <a href="https://www.businessinsider.com/black-women-hurt-by-coronavirus-pandemic-survey-lean-in-data-2020-4">Black people, specifically Black women</a>, were most at risk of layoffs and furloughs, and were less likely to survive (pay for groceries or rent) without work, according to research from Lean In, Facebook COO Sheryl Sandberg's nonprofit.The crisis that business leaders have been warning about has arrived. Now the majority of Americans are calling for change, including paid sick leave and higher wages for frontline workers, the data shows.Some 70% of respondents said they thought companies should offer at least 14 days of paid sick leave to all employees, including hourly and contract workers, instead of going back to more limited leave. And 67% said they believed that companies should keep in place higher hourly pay for employees of essential businesses (for example, grocery- and convenience-store workers), rather than go back to the lower hourly pay rate in place before the pandemic."Americans are looking for companies to take the lead on key policy issues like paid sick leave, paid family leave, wage increases, healthcare, and increased flexibility to work from home," the report said.The poll also indicated that companies would remember how businesses treated their employees during these difficult times. A whopping 84% said they would remember the companies that did the right thing by their workers by ensuring their health and safety, or by doing their best to avoid layoffs.This echoes the words of billionaire Mark Cuban, who said that millennials and Gen Zers would send a company's brand "<a href="https://www.businessinsider.com/billionaire-mark-cubans-message-ceos-focus-on-your-employees-coronavirus-2020-3">straight into the toilet</a>" if its leaders lay off employees during the pandemic."Americans overwhelmingly agree that we as a society need to use this crisis as an opportunity to fix what's broken and find a better way of living," the report said.

Only 25% of Americans think capitalism is good for society

Here's what Just Capital's CEO presented at IGNITION 2018 about investing in companies 'for good'

<div class="KonaFilter image-container display-table"><div><div class="image on-image">Business InsiderJust Capital CEO Martin Whittaker presents on stage at IGNITION 2018.</div></div></div><ul class="summary-list"><li><a href="https://www.businessinsider.com/category/just-capital">Just Capital</a> CEO Martin Whittaker gave a presentation on investing in "good" companies at Business Insider's IGNITION 2018 conference on Tuesday.</li><li>Whittaker shared ways that investors could put their money into companies that are "ethical, honest, and fair" using Just Capital's rankings.</li><li>The presentation, titled "The Business Case for Being JUST," can be seen in full below.</li></ul>There's investing in a company to get a profit, and then there's investing in a company to make an impact - but Martin Whittaker, CEO of the nonprofit Just Capital, says it's possible to put your money in companies that do both.That's the idea behind Just Capital's rankings of companies that are "ethical, honest, and fair," Whittaker said in a presentation Tuesday at Business Insider's IGNITION 2018 conference. Using this information, Whittaker said, investors can fund companies that prioritize issues that " Americans care about most," including income inequality, job creation, environmental impact, community work, and treatment of workers and customers."Businesses are becoming essentially social organizing forces," Whittaker said on stage Tuesday. "We think there's a movement happening here."Check out Whittaker's full IGNTION 2018 presentation on "ethical, honest, and fair" investing by scrolling down:Visit <a href="http://markets.businessinsider.com/">Markets Insider</a> for constantly updated market quotes for individual stocks, ETFs, indices, commodities and currencies traded around the world. <a href="http://markets.businessinsider.com/">Go Now!</a>

You Searched For "capital goods" and got 10 results

Sensex gains 156 points led by metal, IT and capital goods amid foreign capital inflows

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The oil sector is destroying overall capital goods spending

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Ahead of Budget 2016, first-ever policy for capital goods introduced

BI India Bureau

Huge investments by FPIs in 2023 at Rs 1.71 lakh crore

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FPIs big buyers in financial services

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SC dismisses custom's plea claiming overvaluation in import of capital goods by Adani

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Pradhan asks global capital goods manufacturers to set up units in India

PTI

Only 25% of Americans think capitalism is good for society

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Here's what Just Capital's CEO presented at IGNITION 2018 about investing in companies 'for good'

Here's what Just Capital's CEO presented at IGNITION 2018 about investing in companies 'for good'

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