According to staffing company Teamlease for the first quarter of this fiscal year, the overall net employment outlook index made a smart turnaround to recover lost ground.
India Inc has lost all the gains of the current fiscal in its market value with a depreciation of close to Rs 2 trillion (about $50 billion) on Monday amid a fall of over 500 points in the benchmark Sensex in less than six hours of the day's trading.
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Q1 results indicate more pain ahead, as slowdown has spread to more sectors, pricing power has come down and rising interest cost is eating into profits.
'While most companies were bullish before the second wave of double-digit sales growth in FY22, that may not be the case now.'
According to the quarterly report, hiring sentiment saw a marginal improvement with the employment outlook index for the January to March quarter standing at 47 index points, one per cent higher than the previous quarter.
Prime Minister Narendra Modi is making his inaugural address on the 95th Annual Day of Indian Chamber of Commerce via video conferencing.
Unperturbed by the change of guard at the Centre, India Inc on Thursday exuded confidence that economic reforms would continue to be the focal point of the new government even as it emphasised on stability.\n\n\n\n
Companies with no or little debt account for three-fourths of m-cap of BSE 200, excluding financial firms.
Many CEOs said they plan to give special leave to women employees so as to encourage their participation in the workforce.
In the backdrop of cement players refusing to cut prices, Finance Minister P Chidambaram on Saturday asked India Inc to look beyond their balance-sheets and play a role in helping the government ensure macro economic stability.
The employees, who took part in this study, agreed that monetary transaction at 39.2 per cent is the most prevalent form of corruption.
Capex plans for the next six months imply a 20 per cent increase in calendar 2010.
Several fiscal and monetary incentives since December 2008 helped the industry to recover into a growth trajectory. The 10 per cent plus growth in manufacturing, basic goods, mining, electricity has been buoyed by these measures, Confederation of Indian Industry said.
India Inc on Friday expressed the hope that the robust 17.6-per cent industrial growth in April will help the economy grow by 8.5 per cent in this fiscal, even though factory output growth may moderate after June.
India Inc's order-books swelled to Rs 37,666 crore (Rs 376.66 billion) in the first quarter of the financial year 2008-2009, up 93 per cent from Rs 19,520 crore (Rs 195.2 billion) for the same period last year. In the fourth quarter of 2007-08, the order-book had increased by 121 per cent to Rs 42,545 crore
Tesla Inc chief Elon Musk is set to acquire micro-blogging site Twitter for about $44 billion. Back home, India Inc, too, is seeing aggressive merger and acquisition (M&A) activity with PVR-Inox and HDFC-HDFC Bank announcing their mergers recently. While Axis Bank recently acquired Citi India's India retail business, reports suggest Larsen & Toubro Infotech (LTI) and Mindtree could be eyeing a merger.
It bounced back from the historic low of 41 recorded in the April-June quarter, during the initial days of the pandemic and lockdown.
Domestic new-age companies are making their presence felt at India Inc. According to a study done by Credit Suisse, only 15 per cent of the companies in the BSE500 index were formed after the year 2000. By comparison, nearly 90 per cent of unicorns - a start-up with a value of over $1 billion - were set up after 2000.
Corporate India handed over an average increment of 8 per cent in 2021, and early estimates reveal that average increment for 2022 is expected to increase to 8.6 per cent in line with a healing economy and improving confidence, according to a Deloitte survey. As per the second phase of Deloitte's Workforce and Increment Trends survey 2021, 92 per cent companies gave an increment in 2021 at an average of 8 per cent, compared with only 4.4 per cent in 2020, where just 60 per cent companies had extended a pay hike. For 2022, average increment is expected to increase to 8.6 per cent, at par with the pre-pandemic levels of 2019, the survey said, adding that about 25 per cent companies surveyed have projected a double-digit increment for 2022.
For most companies this would mean extending medical coverage to same-sex partners, say legal experts.
Some sectors like aviation, hospitality, travel and tourism, and automobile have witnessed zero cash flow since the lockdown began.
A glance back at some of the important ups and down Indian Inc faced in 2018.
Operating margins improve, but sales still sluggish
By 2025, Uber projects that 25,000-30,000 cars -- or 12 to 16 per cent of vehicle additions -- would be EVs, reports Surajeet Das Gupta.
According to a mid-year survey on 'Performance & Reward Trends' by Hewitt Associates, companies across industries are strongly differentiating rewards on the basis of performance but majority of them are not considering any layoffs or severe salary cuts in current fiscal. The survey revealed that 16 per cent of the companies surveyed have a salary freeze and were mainly organizations in the financial services, IT and ITeS sector.
The drop in growth rate is subsequent to the corporate sector cutting investments by nearly Rs 90,000 crore (Rs 900 billion) in 2011-12 compared to 2010-11, according to the pre-Budget Economic Survey tabled by Finance Minister P Chidambaram in Parliament on Wednesday.
Tax liability insurance is a key negotiation tool used by companies and advisers when a potential tax exposure has been identified and neither party is willing to bear the risk.
India Inc has raised a whopping Rs 237.3 billion (Rs 23,730 crore) through initial share sales in April-January, which is nearly 10 times than that mobilised during the corresponding period last fiscal.
Industry body Confederation of Indian Industry said with the government having announced a clear road map for fiscal consolidation and non-food inflation demonstrating a secular decline, conditions are conducive for RBI to have intervened with a repo and cash reserve ratio reduction.
A survey showed as much as 95 per cent of CEOs and MDs were against Sebi's mandatory guidelines the company's to declare their quarterly performance, Assocham said in a statement.
As per Hewitt's annual Salary Increase Survey 2009-10, the double-digit hike in salaries are anticipated for this year led by sectors like telecom, engineering, pharma and energy.
Elon Musk, the owner of Twitter, said he has "killed" the new 'official' label for certain verified Twitter accounts just hours after the feature was visible on multiple handles of governments, politicians, officials and media houses. Just hours after the feature went live, he hinted that it simply didn't work. "I just killed it," he said in a tweet replying to a web video producer Marques Brownlee's tweet of the 'official' label vanishing after a brief appearance.
Two B-1B Lancer supersonic heavy bomber jets of the US Air Force on Tuesday joined the American exhibits at Aero India at the Yelahanka air base, in a reflection of the deeper strategic ties between the two countries.
With the rupee showing a freefall and hitting a 28-month low against the dollar, India Inc has yet another headache.
Even the best of government policies rarely satisfy the corporate sector. So, it is perhaps surprising that the year 2006 saw a scheme over which all business houses -- big and small alike -- were falling head over heels.
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