"It is a fair assumption that INC possesses the material/empirical/verifiable evidence based on which these specific/explicit 'facts' have been published, an action which can fairly be assessed to embed knowledge, motive and intent to do so by the author," the EC notice read.
Indian companies' market capitalization has grown at the fastest pace last year among major economies despite contraction in GDP, economists from SBI said, flagging the risks to financial stability it poses. Further, retail investors have shown higher interest in markets and their numbers have increased by 1.42 crore in FY21 and another 44 lakh in April and May, they said in a note, wondering if this will be a lasting behavioural change or is transitory. The economists at the country's largest lender attributed the growth in equity markets to lower returns on other financial instruments amid a low rates regime, increase in global liquidity, and even a tendency to spend more time at home because of mobility restrictions which led many to trade more.
The depreciating Indian rupee (the currency touched a record low for the second day in a row and closed at 53.22/23 to the dollar on Tuesday) has brought the foreign fund-raising cost for India Inc on a par with the domestic borrowing cost.
Law minister clears Sebi's regulation on put and call options.
Regretting that the concept of voluntary CSR has not picked up in India, Corporate Affairs Minister Veerappa Moily on Wednesday said the new Companies Bill would make it mandatory for corporate to earmark part of their profit for corporate social responsibility (CSR) initiatives.
India Inc on Monday saw signs of turnaround in the economy with the GDP showing a growth of 6.1 per cent in the first quarter of the fiscal 2009-10.
Besides the pandemic that resulted in higher interest rates, the default by Future Retail has dealt a blow to investor sentiment.
Industry chamber Confederation of Indian Industry said successive hikes in interest rates have had a dampening impact on industrial growth.
'This solid verdict would further strengthen his resolve to drive forward the economic agenda to ensure that the fruits of the economic momentum continue to reach the poor, so visible during the last five years.'
The Railway Budget was a mixed bag for India Inc with industry bodies cautioning that the hike in freight charges will fuel inflation, while other chambers said some proposals if implemented could set the growth multiplier in motion.
From being a net earner of foreign exchange ten years ago, India Inc turned into a net spender of forex.
Hailing Narendra Modi's victory, India Inc hopes the incoming government would boost economic growth and create jobs.
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.
Global Pharma Healthcare is recalling entire lots of eye drop linked to vision loss in the US, according to the US Food and Drug Administration. The Chennai-based company is recalling all lots of artificial tears lubricant eye drops distributed by EzriCare, LLC and Delsam Pharma to the consumer level due to possible contamination, the US health regulator said in a statement. "The Centres for Disease Control and Prevention (CDC) alerted FDA to an investigation of a multi-state cluster of Verona Integron-mediated Metallo--lactamase (VIM)- and Guiana-Extended Spectrum--Lactamase (GES)- producing carbapenem-resistant Pseudomonas aeruginosa (VIM-GES-CRPA) infections possibly associated with the use of the artificial tears manufactured by Global Pharma Healthcare," USFDA said.
The handsome 25 per cent rise in corporate profits in the September quarter amid a sharp contraction in GDP was on the back of wage squeezes, leading to rise in inequalities in India, economist Nouriel Roubini said on Thursday. This rising inequality is "dangerous" politically and socially because only a few people in the economy are benefitting, the economics professor at New York's Stern School of Business said. Roubini said earnings of listed entities have risen 25 per cent in the September quarter, which means that wages and income are getting "squeezed, if not collapsed".
USIBC wants Obama to raise America Inc's concerns with Manmohan Singh.
At present, when Indian corporates declare dividends, a dividend distribution tax is slapped at 15 per cent.
Initial projections, at least, suggest that things are not looking good enough for India Inc, as margins are expected to soften further.
Results of 138 firms show revenue growth has declined further, but net profits are up
Vikramaditya Singh had joined the PDP in August 2015 and was a member of the state Legislative Council.
In FY23, the State Bank of India (SBI) reported a 57.4 per cent jump in its net profit to Rs 55,684.17 crore. But the chairman of the country's largest bank, Dinesh Khara's annual pay for this creditable performance was just Rs 37 lakh (his peers at state-run banks are no better off). Look at his private bank rivals - most pocketed in excess of Rs 7 crore annually - plus stock options.
Global sales of soccer gear were up more than 700% for the 2022 World Cup in Qatar versus the 2018 World Cup in Russia across the Fanatics network of online stores.
The economy is likely to log in a tepid 6 per cent growth next fiscal, in line with the consensus estimates, rating agency Crisil said on Thursday. The agency also sees the economy averaging a growth rate of 6.8 per cent over the next five fiscals. Crisil further said it expects the corporate revenue to log in double-digit rise again next fiscal.
'This has become a necessity now to kick start the investment cycle'
Rising commodity prices are set to hurt margins of India Inc in the on-going fourth quarter of FY 11, even though revenues are seen higher than the previous year, ratings agency Crisil said on Monday.
India Inc on Tuesday described Finance Minister Pranab Mukherjee as industry's Sachin Tendulkar saying the veteran leader was steering the economy "with ease of a seasoned player" in difficult times.
Gujarat Chief Minister Narendra Modi today came in for fulsome praise from India Inc with RIL chairman Mukesh Ambani hailing him as a leader with "grand vision" and his younger brother Anil Ambani of ADAG putting him in the league of Mahatma Gandhi and Sardar Patel.
Index measuring this at six-quarter high; however, economic & political volatility a concern.
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.
Ratan Tata, an iconic corporate leader, retired as Chairman of the $100-billion Tata Group on Friday after a 50-year run, on his 75th birthday.
With political uncertainty reaching a new high, India Inc gets more anxious.
Ashok Soota has cited 4 challenges that India Inc is facing. He stressed on a robust risk management strategy for Indian companies. He also stated responding to changes in market environment, resolving legal and regulatory differences and encouraging leadership and accepting cultural diversity as other challenges. Highlighting the challenges faced by the India Inc, experts said globalisation is essential to pursue growth opportunities and leverage comparative advantage.
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