Sembcorp's Indian unit has filed a lawsuit in Bengaluru to prevent Siemens Gamesa from selling its Indian business before resolving an arbitration dispute over a defaulted wind power project contract. The dispute involves a Rs 816 crore claim by Sembcorp's subsidiary, GIWEL, against Siemens Gamesa, which has counterclaimed for Rs 1957 crore.
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FPIs have turned net buyers, purchasing ₹14,828 crore worth of equities in June, a reversal from their net selling of ₹25,586 cr in May. Experts attribute this shift to the resolution of election uncertainties, supportive economic data, and rate cut expectations in the US. However, FPI inflows are concentrated in select stocks and may remain constrained due to high Indian equity market valuations.
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Bluestar has increased prices by 2-3% in June due to rising raw material costs, particularly copper. The industry has seen a 3-5% price hike across various brands. Bluestar expects 60% sales growth in Q1 FY25 and 30% growth in FY25. However, supply chain kinks, geopolitical issues, and rising raw material prices pose challenges. A 10% rise in copper prices could impact the industry by Rs 600 cr.
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