More than a month after Finance Minister Nirmala Sitharaman announced cuts in corporate tax, the automobile industry has decided to use the savings to fuel capex, boost marketing and to offer discounts to consumers.The minister slashed effective corporate tax to 25.17 percent, inclusive of cess and surcharges, applicable from April 1, 2019, translating to an annual revenue loss of Rs 1.45 lakh crore to the exchequer.With the exception of car market leader Maruti Suzuki, no other automobile company has reduced prices of their models due to the tax cut. Delhi-based Maruti reduced prices by Rs 5,000 on 10 models including the Swift, Brezza and Baleno in September.Close Its peers are using the tax benefit in other ways. Mahindra & Mahindra has indicated that it will use the money to get its capex cycle going. Managing Director Pawan Goenka has said the corporate tax reduction translated to a saving of less than 1 percent per model, thereby making it ineffective for being … [Read more...] about Auto cos chart ways to use corporate tax savings; capex, marketing get the boost
Cs electric limited
Gaurav GargAfter the announcement of Q2 FY20 results, most of the OMCs announced below estimate bottomline along with muted revenues. Factors that impacted performance were low demand, lower diesel to petrol price parity and struggling auto sector. Let’s look at these in detail to get a perspective.Crude oil prices surged briefly after explosive drones cut Saudi Arabia’s oil production by half, but it remained in lower range for most part of the quarter. In Q2, Brent Crude prices traded in the range of $57-$70 a barrel. Brent Crude closed at $62.22 on November 11th, 2019. Lower crude prices generally mean, higher GRMs and in turn higher profitability for OMCs.Close Indian economy grew at its slowest pace in more than four years in the March quarter and the risk of a wider fiscal deficit threatens government spending as private investment falls, leaving the outlook for infrastructure and construction activities to be uncertain over the near to medium term. related news … [Read more...] about Why OMC’s Q2 results failed to meet street’s expectations?
The carbon footprint of beef, including the emissions from growing feed for cows, along with cow belches, energy use, and deforestation of land for grazing, is so massive that some researchers have made the case for a tax on the meat as a way to meet climate goals. So when McDonald’s–one of the world’s largest purchasers of beef–announced today that it plans to begin reducing its greenhouse gas emissions at the rate that climate science says is necessary to have a chance of avoiding catastrophic global warming, it wasn’t a minor goal. advertisement advertisement By 2030, the company plans to work with suppliers and franchisees to cut emissions 36% compared to 2015, even as the chain grows. The “emissions intensity,” or the emissions per ton of packaging or food, will also drop 31%. The change is expected to avoid 150 million metric tons of emissions over the next 12 years, roughly equivalent to taking 32 million cars off the road for … [Read more...] about McDonald’s Says It Will Cut Its Carbon Footprint Enough To Actually Make A Difference