In the technology (tech) world, especially storage, Sanjay Mehrotra is a well-known name. Co-founder of SanDisk, a flash memory storage company in 1988, it was eventually acquired by Western Digital in 2016 for a whopping $19 billion. For a boy from Kanpur, who went on to pursue higher studies in the US, becoming the chief executive officer of Micron Technology, Inc - one of America's largest memory chip makers - and now setting up the company's first plant in India, it has been quite a ride.
Japan World Cup match a big draw for viewers in Japan, less so in Germany
In peace and at war, firms remain tethered to promoter families in a uniquely Indian way.
It plans an investment Rs 20 crore.
Tata Consultancy Services (TCS), the group's biggest cash generator, overtook Vedanta to become the highest dividend payer in India in FY23. The IT services major paid Rs 42,090 crore for FY23, up 167.4 per cent from Rs 15,738 crore for FY22. The 10 biggest payers together shelled out Rs 2.06 trillion for FY23, more than double the Rs 98,371 crore for FY22.
Over the past three trading sessions, the stock of Cummins India has gained about nine per cent on strong January-March quarter (Q4) results and good near-term prospects. Its Q4 performance was led by a healthy 29 per cent revenue growth over the year ago quarter. This was largely on the back of a 33 per cent jump in domestic revenues while exports witnessed a growth of 17 per cent.
The manufacturing sector (excluding petroleum sector) would report a 24.3 per cent PAT growth mainly on account of low raw material prices and soft interest rates, CMIE said, adding PAT of the financial and non-financial services would rise by 32.2 per cent and 20.4 per cent, respectively.
Domestic equity investors' wealth eroded by more than Rs 4.43 lakh crore on Monday as fears of a financial contagion triggered by one of the biggest bank failures in the US roiled market sentiments. After a strong opening, Indian stocks went into a tailspin with the benchmark 30-share BSE Sensex tumbling nearly 900 points to close at 58,237.85 points -- sliding for the third straight trading session. The NSE Nifty too declined 258.60 points to end at 17,154.30 points.
The resurgence in confidence in Indian manufacturing was borne out by many examples of Indian companies going global.
Jobs are back and India Inc is witnessing an upsurge of 15 per cent in hiring trend, thanks to the improving economic climate. However, experts say it is too early to say that the situation has returned back to 'normalcy'.
Some companies say they will pass on the cost to customers.
Indian companies had raised $2.39 billion from foreign markets in May 2015.
Even as India Inc talks of increasing corporate governance norms after the Satyam scam, a study by global consultancy firm Ernst & Young has said that more than half of the companies surveyed do not take into account risk of frauds in their annual audit plans.
M&As are back on the radar for Indian companies, but with two vital changes. First, the average size of the deals are much smaller compared to the earlier years; and second, overseas acquisitions have taken a backseat.
Walmart-owned digital payments app Phonepe on Thursday said it has raised $350 million at a valuation of $12 billion in a funding round led by private equity firm General Atlantic. "Marquee Global and Indian investors are also participating in the round," PhonePe said in a statement adding the investment marks the first tranche of an up to $1 billion total fundraise that commenced in January 2023. The fundraise follows PhonePe's recently announced change of domicile to India and full separation from Flipkart.
"Outsourcing is also a concern and I hope it will be addressed soon," Godrej Group Chairman Adi Godrej told reporters on the sidelines of the World Economic Forum on India in Gurgaon.
The doll wears the same shimmering gown Harnaaz wore during the Miss Universe pageant.
An unstable government is the worst thing that can happen to the Indian economy grappling with the global downturn, say business leaders.
For most companies this would mean extending medical coverage to same-sex partners, say legal experts.
The Ficci Survey for the second quarter of 2008-09, which was carried out during November and December 2008, revealed 52 per cent of companies feel that the overall economic conditions would weaken further in the coming six months. Further nearly 90 per cent of the 412 companies surveyed in the report feel that the economic situation has deteriorated over the last six months.
No business delegation has been cleared yet for Prime Minister Narendra Modi 's visit to America from Friday.
Senior Congress leader Ghulam Nabi Azad on Friday resigned from all party positions, including its primary membership, delivering another blow to the embattled party that has seen a series of leaders leave it.
In its latest report for the office market, property consultant Cushman and Wakefield said the total seats leased by enterprises could cross 50,000 during the 2021 calendar year. Enterprises had leased 18,213 seats in the first six months of the 2020 calendar year and 36,255 desks during the entire last year.
India Inc is likely to witness a continuing surge in merger and acquisition activities after a record number of M&A deals in the first half of 2006 -- aggregating to more than $25 billion.\n\n
As India Inc steps up the gas to expand in the global arena, it faces the risk of stumbling on frauds, the levels of which were far higher compared to global levels, according to international consulting firm Ernst and Young.
The private security industry expects to grow manifold in the next five years, with India Inc enhancing the protective measures after the Mumbai attacks.
A glance back at some of the important ups and down Indian Inc faced in 2018.
Data with the Department of Industrial Policy and Promotion reveals that between April 2005 and July 2008, Japan Inc pumped in 50 per cent of the total investments inflows between April 2000 and July 2008. In fact, between June and October this year, Japanese companies said they would pump in $8 billion. Experts say this is not a knee-jerk reaction by the Japanese, who are known to be very meticulous with their investments.
India Inc said the Foreign Trade Policy would give a significant push to manufactured goods and agriculture- and labour-intensive exports.
Sharma had applied for the licence which has been granted after assessing threats and following due procedure, they said.
India's unemployment rose to a three-month high in March to 7.8 per cent as the country's labour markets deteriorated, according to data from the Centre for Monitoring Indian Economy (CMIE). Unemployment rate in the country surged in December 2022 to 8.30 per cent but declined in January to 7.14 per cent. It edged up again in February to 7.45 per cent, the CMIE data released on Saturday showed. During March, the unemployment rate in urban areas was at 8.4 per cent while in the rural areas it was at 7.5 per cent.
Indian firms mop up a meagre Rs 63 cr against Rs 247 cr raised in May.
India's job market looks bullish with 44 per cent of companies planning to add more staff in the next three months as corporates gear up to bring workers back after the pandemic, a survey said on Tuesday. According to the latest ManpowerGroup Employment Outlook Survey released by ManpowerGroup India, employers report a Net Employment Outlook of 44 per cent - the most optimistic outlook in seven years. The Net Employment Outlook is derived by subtracting the percentage of employers expecting a decrease in hiring activity from the percentage of employers anticipating an increase in hiring activity.
Foxconn means serious business in India. Its delegation to India was led by its Chairman Young Liu who met Prime Minister Narendra Modi.
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