The Tata group is close to acquiring Wistron's $600-million factory in southern Karnataka by next month, according to reports. The Wistron unit makes iPhones for the Cupertino-based company. Sources said that Wistron will continue to provide the Tatas technical know-how on assembling the phone and keep back some personnel during the transition process.
Even as top Pegatron executives went to the factory near Chennai on Tuesday to make an assessment of the fire damage to decide on a possible date for resuming operations, sources said the impact of the closure will be minimal for Apple's iPhone production. Late in the evening sources said that the factory might be operational soon-but said they are waiting for a final update. It will also not impact the availability of the newly-launched iPhone 15 and iPhone 15 Plus, they said.
Having rung in the New Year with two major acquisitions in the metals space, India Inc is set to execute more such deals, albeit in automotive, pharma and IT sectors, with companies in Europe being the targets.
Rahul Gandhi spoke about his vision of empowering women and giving voice to the people of billion-strong nation.
Food inflation fell to a four-month low of 9.18 per cent for the week ended March 26, even as wholesale price inflation stood at 8.31 per cent in February.
Stocks of Indian companies with exposure to Europe fell on Tuesday amid concerns about the impact on their sales in case the Russia-Ukraine crisis worsens and the US and its allies impose economic sanctions on Russia. While top conglomerates, including Reliance Industries, the Tata group, and Aditya Birla Group, said they did not have any significant exposure to Russia, executives of some of the oil and gas, pharmaceutical, and tea companies said they were monitoring the situation closely as they earned substantial income from the region. Russian President Vladimir Putin on Monday ordered troops into two breakaway regions of eastern Ukraine after announcing that Russia would recognise their independence.
A sharp hike in global commodity prices meant that India Inc's raw material costs rose 38 per cent and, since they constitute 41 per cent of sales revenues, this lowered profits growth to 35 per cent (from 62 per cent in Q3).
'Instead of making this a four-year phenomenon, when you look at us and get thrilled, do it more regularly.'
The immediate concern for all companies is to prepare themselves - and their vendors and suppliers - for the new GST return filing mechanism, being test piloted from April 1.
A dedicated commercial court for Bengaluru Urban District has directed micro-blogging site Twitter to block the handles of the Indian National Congress (INC) and its 'Bharat Jodo Yatra' till the next date of hearing.
Congress candidate Elangovan secured 1,10,156 votes (64.58 per cent), which is 20.29 per cent more than the 2021 assembly election as the then INC candidate secured 66,300 votes and won the seat.
The government's plan to cut the corporation tax rate while phasing out exemptions may be sound, but it may not mean a reduced tax burden for India Inc.
Industry body Assocham said the focus continues to be on rising inflation and not on the country's economic growth.
Firms in rush to raise capital but those putting in money at new valuations might be left holding the can.
Antony, along with his wife Elizabeth, reached Chandy's residence in Thiruvananthapuram to bid adieu to his trusted lieutenant during trying times of their decades-long political career.
Mamata-wary corporate heads hope economics wins over politics in Budget.
India Inc has said the decision to hike in diesel price was "inevitable" and this would help in fiscal consolidation.
Women leaders, succession planners and lawyers say doors in family businesses are opening but a stronger push is needed.
The party said it was 'an inexcusable slip-up', for which responsibility was being fixed and action would be taken.
'Earnings will be the catalyst for markets to march higher from here on out.'
Business leaders, among others, ask govt to let go of fiscal target, seek stimulus, and direct cash transfer.
If financials and oil sectors were removed, India Inc has done quite well.
Though the Indian aviation sector is finding it tough to glide smoothly due to the rise in operating cost, Indian Inc seems to be flying high with new aircraft buys
The earnings are, however, expected to be down around 2 per cent on a sequential basis due to pent-up demand getting exhausted and the adverse impact of rising metals and energy prices on consumer goods and manufacturing companies.
India's harsh lockdown has left companies grappling with temporary closure, chaotic supply chains and depressed demand. Consequently, business plans have been modified.
Shareholders have given approval to the appointment of Ambani scions Akash, Isha and Anant on board of Reliance Industries, the company said in a stock exchange filing.
Twitter has replaced its recognisable bird logo with the letter 'X' as its new official mark marking the latest major shift since Elon Musk's takeover of the social media platform.
Across the country, companies have stepped up their act to contain the crisis. IT and other new economy firms seem to have taken a lead.
The Rajasthan government has suspended Jaipur Heritage Municipal Corporation Mayor Munesh Gurjar following her husband's arrest in a bribery case related to the issuance of land deeds, a development she termed a 'political conspiracy' against her and her family.
Recession-hit India Inc may not have done well in terms of Profit After Tax (PAT) growth in the previous fiscal, but FY 10 could see it clocking a robust over 77 per cent growth in PAT, an economic think-tank forecast in its latest report.
Transparency is more than welcome, but govt should not look vindictive.
At the Ficci meet, the Gujarat chief minister says 'tax terrorism' in the country is inherently venal; calls for discussion on economic reforms.
Tesla Inc, the world's largest electric car producer, is looking to make a significant investment in India, said its chief Elon Musk, who saw India as holding more promise than any other large country around the globe. Musk, after meeting Prime Minister Narendra Modi, said he plans to visit India in 2024. "I am confident that Tesla will be in India and we will do so as soon as humanly possible," Musk told reporters after the meeting.
RBI is expecting the rupee to stay close to Rs 75 to a dollar, as COVID-19 forces foreign funds to withdraw from emerging markets.
It may be the season for corporate matchmaking but India Inc's record of managing partnerships is far from impressive, says Shailesh Dobhal.
Corporate India's merger and acquisition deal activity in February stood at $2.3 billion taking the total M
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