For stressed loans, the need is to prevent disruption in cash flows from a systemic perspective, conserving employment and assets in untainted enterprises with the potential for recovery, says Shyam Ponappa.
Most of the changes have come about in the last four years and ITC is now reaping the dividends - standalone revenues from the non-cigarettes FMCG business have grown 40 per cent from FY17 to Rs 14,728.21 crore in FY21 and pre-tax profits 30 times to Rs 823.69 crore. The business accounted for 30.58 per cent of gross revenues and 4.85 per cent of pre-tax profits in FY21. "In the last four years, our margins in FMCG have gone up by 640 basis points (bps) and EBITDA margins have been moving up consistently. "We created levers that enabled a sustained growth trajectory," said ITC chairman and managing director Sanjiv Puri. Puri took charge as the chief executive officer in 2017; in 2018, he was redesignated managing director and effective May 2019, he became chairman.
'PNB had confirmed compliance with the RBI's prescription in its circular of August 3, 2016, which has now turned out to be factually incorrect,' Minister of State for Finance Shiv Pratap Shukla said in Rajya Sabha on Tuesday.
Substantial gains can still be made with good policies and initiatives.
Obama also said he had emphasised the need for religious tolerance and the right to practise one's own faith during closed door talks with Prime Minister Narendra Modi during his last trip to India in 2015.
Asked whether the IAF can play a role in smashing terrorist training camps across the Line of Control in Jammu and Kashmir, he did not rule out such a possibility.
Chidambaram has been magnanimous in endorsing my book, says the former RBI Governor D Subbarao.
Tens of thousands of people on Sunday braved heavy rains to bid a teary adieu to Singapore's founding leader Lee Kuan Yew in a grand funeral attended by many world leaders, including Prime Minister Narendra Modi
Alex Gardega installed Pissing Pug, alternatively known as Sketchy Dog -- a small sculpture of a urinating dog - at the leg of the 'Fearless Girl' statue as an act of defiance.
'With English the most rapidly growing medium of instruction in India's schools and accounting now for more than one-sixth of the total (next only to Hindi, which accounts for a half), India is not about to turn its face away from a language that has global currency,' notes T N Ninan.<
'The telecom companies are our lifeline now, despite having nearly collapsed under debt because of ill-advised policies.' 'Perhaps our obvious dependence on telecom services will spark well-conceived policies for this sector,' says Shyam Ponappa.
With the O2C business outlook on the mend, the Street is also looking forward to news on RIL's proposal to sell up to 20 per cent of the O2C business to a strategic investor like Saudi Aramco.
"This august forum witnessed a new low on its 75th anniversary. The leader of Pakistan today called for those who incite hate and violence to be outlawed. But as he went on, we were left wondering, was he referring to himself?" First Secretary in the Permanent Mission of India to the UN Mijito Vinito said, making India's Right of Reply.
Reliance announced a rights issue of Rs 53,125 crore, which it said was the biggest in India.
In the domestic market, the Tata Group has lost ground in the passenger car business.
Simplilearn said the pandemic had accelerated demand for skills in areas such as artificial intelligence, cloud computing, data science and cybersecurity.
Help your employees remember the vision and the goals of your exponential organisation and why they decided to be there, suggests Kunal Sood.
Accenture -- considered as one of the top-most employers in India among the global technology services companies -- is believed to have over 150,000 workers in India, next to IBM.
Finance Minister P Chidambaram, while addressing the Carnegie Endowment for International Peace on "Recapturing India's Growth Momentum" in Washington on Thursday, said that the leading think tank need not launch an initiative to explore how India will vote in 2014, declaring that the Indian polity will vote the Congress back into power.
The policy proposes a single-window platform for facilitation of the Indian software product industry, to help fast-track legal and regulatory issues over import and export, as well as setting up and winding up enterprises.
Analysts sceptical whether company will sustain rise in operating profits.
Experts said if the slowdown, and subsequent weakness in GST mobilisation, continued, it would curtail the Centre's resources to a considerable extent in the current financial year.
Stupidity knows no boundaries just like smartness, oxygen, and maybe football, says Maharaj Damodardas.
In the first of a two-part series, Tamal Bandyopadhyay explains why the ICICI Bank's board first rushed to deny all allegations against Kochhar and then took the extreme steps against her.
4 Ranbaxy facilities in India have been barred from exporting to US.
Soon after Prime Minister Modi's assertion, the G20 countries also came down heavily on terrorism.
In a statement, Fortis said under the accepted offer, IHH would infuse Rs 4,000 crore through subscription to the preferential allotment at a price of Rs 170 per share. The Malaysian firm will then make a mandatory open offer to public shareholders for 26 per cent of the outstanding shares post issuance.
Saudi Aramco had right from the beginning resisted the price tag Reliance had put for the 20 per cent stake in O2C business, which comprises the company's twin refineries at Jamnagar in Gujarat, petrochemical plants and 51 per cent in fuel retailing venture.
Sixteen companies in the group registered a turnover of over $500 million, with ten of these registering a turnover of over $1 billion
Instead of targeting global imbalances per se, the narrative must change to the structure and direction of such asymmetries.
Sterling was last at $1.4450, having carved out a massive range of $1.4000 to $1.5022.
Singh asserted that the domestic challenges of India's economy were daunting in their complexity and devastating in their impact on the society.
While players in the financial ecosystem are opening up to the idea of receivables funding for the sector, this market needs a regulator, which a Parliament panel feels only RBI can provide.
RBI Governor Shaktikanta Das said the central bank saw economic growth slowdown in February, prompting it to cut rates ahead of the curve and wondered why markets were surprised with the decision to pause rate reduction. Noting that there is a need for an "informed and objective discussion" on the country's economy, Das said the RBI would do "whatever is necessary" to address growth slowdown, spikes in inflation as well to ensure good health of banks and non-bank lenders. The apex bank went for five consecutive rate cuts starting in February this year, making it a cumulative reduction of 1.35 per cent.
This would provide a major boost to the indigenous design and construction capability of submarines in India.
For Hero MotoCorp, India's largest two-wheeler company, it's a calculated gambit to revive Harley-Davidson whose ride in India has been anything but easy since it got here.When automotive firms embark on alliances, it's a roll of the dice on how such marriages will play out.
Buoyed by fast-paced growth in financial services vertical, Mastek Ltd, a first generation Indian software company and a global provider of IT solutions and integration services, is mulling expansion in the European market.
Central banking is a science, not an art, Tamal Bandyopadhyay tells RBI Governor Shaktikanta Das.
Mayank Rautela distils his 20-odd years of experience in human resources management to tell you how you can ace in your career.
The boom in organised retail will set the tone for major economic overhaul. The ripple effect will be improved supply chains, volume output, integration into global commerce, and higher tax collection, notes T N Ninan.
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