Concrete

Core sectors output growth remain negative for Nov 2020

Published

5 years ago

July 1, 2021

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In November 2020, the eight core sectors output growth remained in a negative trajectory for the ninth successive month. Rather after showing an improvement in September 2020, it has been deteriorated persistently in October 2020 and November 2020. During the month, the eight core sectors output contracted by 2.6 per cent year on year as against the 0.7 per cent growth in the same month of last year. The output growth during the month was also lower than the 0.6 per cent de-growth in October 2020. The decline in growth can be ascribed to persistent fall in crude oil, refineries, natural gas, steel output.

For October 2020, the core sector growth has been revised upwards from -2.5 per cent (prov.) to -0.9 per cent (first revision) on account of improved production in steel, cement and electricity sector.

The cumulative index of eight core sector during April ??November 2020 contracted by 11.4 per cent indicative of the adverse impact on industrial production during the lockdown period compared with the 0.3 per cent growth in the corresponding period of last year. There was a broad based contraction across sectors during this period barring fertilizer, the output of which grew by 3.8 per cent due to favourable monsoon and sowing season this year.

Key highlights:

Coal production growth slowed in November 2020 and the output grew by 2.9 per cent at a four month low (11.7 per cent growth in October 2020). However, it was better when compared with the 3.5 per cent contraction in the same month of FY20. Revival in demand for power post easing in lockdown and resumption of industrial activities has along with favourable base has led to increase in output in coal.

Crude oil production contracted for three successive years. In November the crude oil production declined at a slower 4.9 per cent compared with the 6 per cent de-growth in November 2020. Fall in production can be ascribed to low realisations due to Covid restrictions/lockdown, technical mishaps due to Covid-19 implications, reservoir issues and shut in of wells and reduced off take.

Natural gas production also declined for nearly 2 years. In November 2020, the natural gas output contracted by 9.3 per cent, higher than the 6.4 per cent decline in November 2019. Closure of Gas wells in western offshore due to Hazira Plant shutdown, low upliftment/demand of gas by the major customers like power plants, bandhs/blockade by local people and associations, etc. after the Baghjan Blowout among others weighed on overall production during the month.

Refinery production, having high weightage in eight core (28 per cent), contracted for successive 9 months in a row. However, the pace of contraction moderated in November 2020 to -4.8 per cent compared with the -17 per cent de-growth in the previous month. In November 2019, however, the refinery output had grown by 3.1 per cent. Low capacity utilisation and low product demand due to Covid impact led to decline in production during the month.

Fertilizer output, grew by 1.6 per cent in November 2020, lower than the 13.6 per cent growth in November 2019 and 6.3 per cent in October 2020. Expected increase in demand during the ongoing Rabi season might have supported the growth during the month.
Output of steel sector contracted for the first time in the past 4 months in November 2020 by 4.4 per cent as against the 7 per cent growth in November 2019 and 4 per cent growth in October 2020. Low demand from automobile sector, high raw material costs and relatively muted construction activities with lockdown imposition in parts of the country must have weighed on the steel production.
After witnessing a revival in October 2020, the cement production took a hit in November 2020 and contracted by 7.1 per cent compared with the 4.3 per cent growth in November 2019 on account of likely muted construction activities with resurgence in infection cases and subsequent restrictions on activities.
Electricity production grew by 2.2 per cent albeit at a slower pace by 2.2 per cent in November 2020 than the 11.2 per cent growth in the previous month but was better than the 4.9 per cent contraction in the same month of last year.

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Going ahead, the eight core sectors growth would be contingent on the ease in restrictions along with high base effect. On account of fall in eight core sector growth the IIP growth for this month could see only marginal improvement between 0 to 1 per cent.

Courtesy: CARE Ratings

ABOUT THE AUTHOR

Dr Rucha Ranadive, Economist, CARE Ratings. Can be contacted at: rucha.ranadive@careratings.com | Tel: +91-22-6837 43406

Disclaimer: This report is prepared by CARE Ratings Ltd. CARE Ratings has taken utmost care to ensure accuracy and objectivity while developing this report based on information available in public domain. However, neither the accuracy nor completeness of information contained in this report is guaranteed. CARE Ratings is not responsible for any errors or omissions in analysis/inferences/views or for results obtained from the use of information contained in this report and especially states that CARE Ratings has no financial liability whatsoever to the user of this report.

Concrete

NDMC Rolls Out Intensive Sanitation Drive Across Lutyens Delhi

Municipal body intensifies cleaning and monitoring across the capital

Published

1 day ago

March 13, 2026

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The New Delhi Municipal Council has launched an intensive sanitation drive across Lutyens’ Delhi, aiming to raise cleanliness standards in the capital’s central precincts. The programme will combine enhanced manual sweeping with mechanised cleaning and systematic waste removal to cover parks, heritage precincts and prominent thoroughfares. Authorities described the initiative as a sustained effort to improve public hygiene and reduce environmental hazards while maintaining the area’s civic image.

Operational teams have been instructed to prioritise drain clearing and litter hotspots, with special attention to markets and transit nodes that attract heavy footfall. Coordination with city utilities and waste processing units will be stepped up to ensure timely collection and disposal, and supervisory rounds will monitor adherence to cleaning schedules. Officials also intend to use data-driven planning to deploy resources efficiently and to identify recurring problem areas.

The council plans to engage resident welfare associations and business stakeholders to foster community participation in maintaining cleanliness and to support behavioural change campaigns. Public communication will be amplified through notices and outreach to encourage responsible waste handling and to inform residents about collection timings and segregation norms. Enforcement measures for littering and unauthorised dumping will be reinforced as part of a broader strategy to deter violations and sustain cleanliness gains.

The move reflects a focus on urban sanitation that officials link to public health priorities and to the city administration’s commitment to maintaining civic amenities. Monitoring mechanisms will include regular reporting and inspections to review outcomes and to recalibrate operations where necessary, according to municipal sources. The council emphasised that continued community cooperation will be essential for the drive to deliver lasting improvements in the appearance and hygiene of the capital’s core areas.

Concrete

UltraTech Appoints Jayant Dua As MD-Designate For 2027

Executive named to succeed current managing director in 2027

Published

4 days ago

March 10, 2026

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UltraTech Cement has appointed Jayant Dua as managing director (MD) designate who will take charge in 2027, the company announced. The appointment signals a planned leadership transition at one of the country’s largest cement manufacturers. The board has set a clear timeline for the handover and has framed the move as part of a structured succession plan.

Jayant Dua will be referred to as MD after assuming the role and will be responsible for overseeing operations, strategy and growth initiatives across the company’s network. The company said the designation follows established governance norms and aims to ensure continuity in executive leadership. The appointment is expected to allow a phased transfer of responsibilities ahead of the formal changeover.

The decision is intended to provide strategic stability as UltraTech Cement navigates domestic infrastructure demand and evolving market dynamics. Management will continue to focus on operational efficiency, capacity utilisation and cost management while aligning investments with long term objectives. The board will monitor the transition and provide further information on leadership responsibilities closer to the effective date.

Investors and market observers will have time to assess the implications of the announcement before the change is effected, and analysts will review the company’s outlook in the context of the succession. The company indicated that it will communicate any additional executive appointments or organisational changes as they are finalised. Shareholders were advised to refer to formal filings and company releases for definitive details on governance or remuneration.

The leadership change will be managed with attention to stakeholder interests and operational continuity, and the company reiterated its commitment to delivery on ongoing projects and customer obligations. Senior management will engage with employees and partners to ensure a smooth handover while maintaining focus on safety and compliance. Further updates will be provided through official investor communications in due course.

Concrete

Merlin Prime Spaces Acquires 13,185 Sq M Land Parcel In Pune

Rs 273 crore purchase broadens the developer’s Pune presence

Published

1 week ago

March 6, 2026

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Merlin Prime Spaces (MPS) has acquired a 13,185 sq m land parcel in Pune for Rs 273 crore, marking a notable expansion of its footprint in the city.

The transaction value converts to Rs 2,730 mn or Rs 2.73 bn.

The parcel is located in a strategic area of Pune and the firm described the acquisition as aligned with its growth objectives.

The deal follows recent activity in the region and will be watched by investors and developers.

MPS said the acquisition will support its planned development pipeline and enable delivery of commercial and residential space to meet local demand.

The company expects the site to provide flexibility in product design and phased development to respond to market conditions.

The move reflects an emphasis on land ownership in key suburban markets.

The emphasis on land acquisition reflects a strategy to secure inventory ahead of demand cycles.

The purchase follows a period of sustained investor interest in Pune real estate, driven by expanding office ecosystems and residential demand from professionals.

MPS will integrate the new holding into its existing portfolio and plans to engage with local authorities and stakeholders to progress approvals and infrastructure readiness.

No financial partners were disclosed in the announcement.

The firm indicated that timelines will depend on approvals and prevailing market conditions.

Analysts note that strategic land acquisitions at scale can help developers manage costs and timelines while preserving optionality for future projects.

MPS will now hold an enlarged land bank in the region as it pursues growth, and the acquisition underlines continued corporate appetite for measured expansion in second tier cities.

The company intends to move forward with detailed planning in the coming months.

Stakeholders will assess how the site is positioned relative to existing infrastructure and connectivity.