Here's a look at how the new corporate governance norms will affect India Inc boardrooms.
Rahul Gandhi spoke about his vision of empowering women and giving voice to the people of billion-strong nation.
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).
We are already seeing pressure of inflation, we also seeing slowdown in manufacturing, hope excise rates are not increased because that will get passed to the consumer.
Corporate India's merger and acquisition deal activity in February stood at $2.3 billion taking the total M
The environment looks conducive for growth for corporate India and thus we believe that equities would continue to deliver decent returns over the long term. \n\n
A study of 435 companies listed on the Bombay Stock Exchange, which provide their capital-employed data on a quarterly basis, shows capex grew by a meagre 3.4 per cent in the nine months ending December 2009, compared to the level in March 2009.
Mamata-wary corporate heads hope economics wins over politics in Budget.
Industry body Assocham said the focus continues to be on rising inflation and not on the country's economic growth.
Some of India's biggest employers are testing for antibodies to either comply with regulatory norms or gauge the effectiveness of precautionary measures.
India Inc has said the decision to hike in diesel price was "inevitable" and this would help in fiscal consolidation.
Union Minister of Commerce and Textiles Piyush Goyal has stirred up a hornet's nest by taking on India Inc, specifically the Tata group, which is among the companies that lobbied against the Modi government's pro-consumer draft e-commerce policies. While Goyal's comments, made at a Confederation of Indian Industry (CII) event, were streamed live on YouTube, the industry lobbying body later edited the video and subsequently withdrew the entire speech. Goyal had said the Tata group and other Indian companies often lobbied for their interest, while ignoring national interest.
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.
The infrastructure sector, however, felt the package was insufficient and wanted additional measures. "The government's package is inadequate. We expected at least $20 billion relief package, giving emphasis to the infrastructure sector.
Firms in rush to raise capital but those putting in money at new valuations might be left holding the can.
Profitability and cash reserves have halved since the global financial crisis.
India Inc, while welcoming the Reserve Bank of India's move to cut the key interest rate, expressed doubts on lenders' response to pass on the benefits to customers.
Many firms have asked those joining on April 1 to delay their on-boarding by 2-3 months. The outlook for the airline, tourism, hotel, and media industries is bleak too.
Grant Thornton's international business report claims India Inc to be most optimistic about economy.
India's traditional companies are now moving full scale into the renewable and alternative energy space that had been dominated by smaller players over the past decade. Companies such as government-owned NTPC and the Adani and the Tata groups restructured their businesses well in time to become major players in the green space. At the same time, other conventional companies, such as Larsen & Toubro and Reliance Industries Ltd (RIL), which have a presence both in the energy sector as well as myriad other activities - construction, technology and retailing - are tying up with new-age companies to hitch a ride to a greener path.
At the Ficci meet, the Gujarat chief minister says 'tax terrorism' in the country is inherently venal; calls for discussion on economic reforms.
"Namaste...Saal Mubarak...Diyas (Dipawali lights)... Diwali... Mumbaikars and Dharavi" were some of the expressions and words that Obama used in his interaction with a select group of leading industrialists.
India Inc is rearranging its investment itinerary with little known investment destinations like Bihar, Assam, West Bengal and Orissa gaining a place on the country's economic roadmap.
There have been several, high-profile name changes in 2007 and interestingly, many of these have been corporate rebrandings, rather than consumer product name changes.
Has liberalisation squeezed the personality out of India Inc's leaders?
With the government considering a new Bill to make the Indian Institutes of Management answerable to Parliament, India Inc leaders say the time has now come to grant complete autonomy to these institutes.
72 per cent of the revenue of Indian firms (India Inc) is derived from the domestic / home market - the sixth highest in percentage terms in the emerging market (EM) and the Asian region, said a recent report by Morgan Stanley. The balance, according to the report titled 'Global Exposure Guide 2021' co-authored by analysts led by Jonathan F Garner, their chief Asia and emerging market strategist, is split between the developed markets (DMs) and other EMs. The report is based on an analysis of 3,300 companies globally that have revenue exposure in 17 different regions.
The lower sales growth rate is on account of single-digit growth in sales by Reliance Industries (6.3 per cent), Reliance Energy (9.53 per cent), Hero Honda (5.48 per cent) and Biocon (7.52 per cent). Companies that posted a decline in sales included two-wheeler giant Bajaj Auto (- 3.03 per cent), pharmaceutical major Ranbaxy (-4.79 per cent) and Madras Aluminium (-11.13 per cent).
Murthy, the chief mentor of IT bluechip Infosys, said fairness, transparency and accountability were the "three pillars" of corporate ethics which companies should adhere to.
Prime Minister Narendra Modi on Friday said both public and private sectors need to leverage synergies and think out of the box to seize opportunities arising as a result of the emerging global environment. While interacting with noted economists and experts at NITI Aayog ahead of the Union Budget, the prime minister also applauded the success of the India Digital story and the rapid adoption of fintech across the country, an official statement said. During the meeting, economists offered suggestions on ways in which India can sustain its development momentum, it added.
A vast majority of the business leaders believe that the Production Linked Incentive (PLI) schemes have been beneficial and expect an extension to other sectors in the coming years, a Deloitte Survey said on Friday. An overwhelming number of survey respondents hope the budget will fuel growth across industries by building strong domestic demand and focussing on capital expenditure and believe that it would define the 'Amrit Kaal'. "Critical to this growth will be the pace of capital expenditure, infrastructure development, and the need to boost infrastructure financing through private partnership. 60 per cent of respondents suggested raising funds through Indian Government Bonds," the survey said.
The sales growth rate has been a 10-quarter low, dragged by slowdown in the key sectors -- capital goods, construction, infrastructure, non ferrous metals, steel and telecom -- that had contributed to India Inc's growth story in the past.
RBI moves will further add to corporate woes. Harsh Mariwala, the president of industry body Ficci, said, "I am afraid that with such a hawkish monetary stand, the investment environment would become even more difficult. Growth and employment targets will certainly not be achieved."
If viewed rationally, the report should, thus, somewhat defuse the panic around "unique levels" of corruption in India, revealing that the country and its private sector have relatively robust processes in place, allowing for the eventual revelation of corrupt practices.
Corporates' forex borrowings have grown at a CAGR of 15.6% since 2008.
Transparency is more than welcome, but govt should not look vindictive.
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