He succeeds Adi Godrej, Chairman of the Godrej Group.
He did not see any difficulty in recovery as most of the good companies were growing at 10-12 per cent.
Geithner and Bernanke held talks with India's major multinational corporations.
The sector has been going through a slowdown.
The sale of Nature's Basket, Godrej's chain of food stores in west India, is the second exit by a big group in a year in the category
"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.
Easily the biggest high-power gathering and by far the starriest event staged in Gujarat, concluded at the Reliance petro township in Jamnagar on Sunday.
Former CII president R Sashsayee, Jamshed Godrej of the Godrej Group and Suresh Neotia, Chairman of the Gujarat Ambuja, will be among the small group of industrialists meeting the prime minister. Besides the Satyam saga, the World Bank has initiated action against five Indian entities, including Wipro Technologies, for violating the guidelines of the multilateral lending agency on checking fraud and corruption.
No single real estate company holds even 5 per cent of the total market share.
Most business groups in India, including Godrejs, Tatas and Mahindras, have seen patience tested in JVs, with some of them winding up quickly
Led by a new generation of entrepreneurs, India's family offices are shifting from traditional investments in physical and tangible assets like real estate to investing in technology, healthcare, and retail stocks. This new wave of family offices is engaging in stock market investments, including pre-IPO placements and secondary market operations. "Born into a world of technology, the next generation, especially those born after 2000, view technology as equally crucial as finance for running a business.
Most brokerages are betting that the new government will shift to a policy focussing on boosting rural incomes and consumption since that has clearly been a pain point.
Even while the entire world is grappling with a downturn, we are maintaining a solid growth rate of 6 to 7 per cent. That's simply commendable.
'Defence and aerospace show huge potential thanks to the government's Make in India push.'
At present, Godrej Sara Lee's portfolio largely consists of household insecticide brands like Hit and Good Knight in India, apart from Sara Lee's air purifier brand, Ambi Pur.
Independent directors of Satyam Computers, who agreed to the company's proposal of buying out two promoter-related companies, failed to be independent in 'spirit', industry captains said.
How effective are these strikes to solve an issue as vexing as this? Aren't strikes a bane for a nation already reeling under a heavy dose of inflation? Don't strikes put more pressure on an inflationary economic structure like India's?
As record stock market rally continues, the value of shares directly owned by next-generation business leaders at 20 major corporate houses has soared over 18 per cent to Rs 17,000 crore.
In an upbeat mood on good results, Adi Godrej, chairman of the Godrej group, tells Business Standard's Sapna Agarwal he is looking forward to a good year, as the fast-moving consumer goods sector remains unaffected by the general slowdown.
ISB has introduced this concept, christened "Shadow a CEO", to mobilise funds for charity and allow its students to work with the Who's Who of India Inc for a day. Some 16 CEOs have agreed to participate. "We not only want to put the money generated for benefit of the society, but also let our students experience the joy of operating with a CEO for a day," said Ajit Rangnekar, Dean of ISB.
Natures Basket's acquisition will make Spencer's Retail a national player, giving it access to the western parts of India through its 36 stores in prime locations in Mumbai, Pune and Bangalore.
Consumer businesses come to the rescue of large conglomerates in the midst of a meltdown in commodities.
The stock of Godrej Consumer Products Limited (GCPL) fell about 3.7 per cent in trade after its Q3FY24 earnings disappointed brokerages and led to downgrades. Further, the stock, after a 15 per cent run-up over the past month prior to Monday's correction, had already factored in the upside from the business front. Its peer in the consumer space, Marico, too, saw a 4 per cent drop in its stock price.
'What happens in the real estate market is that once the prices go up it goes on to stay at that level.' 'It might not increase and at the same time the prices will not come down too.'
Christopher Wood, global head of equity strategy at Jefferies has rejigged his equity portfolios. In his Asia ex-Japan long-only portfolio, he has added Axis Bank (5 per cent weightage) and increased holding in Larsen & Toubro (L&T) by one percentage point. This, Wood said, will be paid for by removing the investment in ICICI Lombard General Insurance and reducing the investments in HDFC Bank and Reliance Industries (RIL) by one percentage point each.
Irregular rainfall and a pick-up in commodity costs are expected to weigh on the demand and margins of fast-moving consumer goods (FMCG) companies. Most companies reported a sharp expansion in gross margins in the April-June quarter (first quarter, or Q1) of 2023-24 (FY24), given the lower prices of key raw materials and earlier price hikes. Furthermore, there were expectations that cost savings being passed on could reflect in volume growth going forward. However, these hopes could be dashed if demand recovery, especially in the rural segment, stalls, and gains on the raw material front start to recede.
Leading FMCG companies in the country are expecting their sales growth numbers in high double digit in the April-June quarter, a period when the broader market was severely impacted by the second wave of the COVID-19 pandemic. FMCG companies such as Godrej Consumer Products Ltd (GCPL) and Marico, in their quarterly updates to bourses, informed about double-digit sales growth. While Tata Consumer Products Ltd (TCPL) MD and CEO Sunil D'Souza in an interview had told PTI, the Tata Group FMCG firm expects higher growth in the Q1/FY'22 over Q4/FY'21.
West Bengal Chief Minister Mamata Banerjee's maiden visit to the financial capital Mumbai drew an enthusiastic response from India Inc with industry captains queuing up to attend the meeting called by her.
Mukesh Ambani, the patriarch of Reliance Industries (RIL), and Gautam Adani, the chairman of Adani Group of companies, have secured the top positions on the Fortune India Rich List, created in partnership with Waterfield Advisors, with respective wealth of $99.7 billion and $63.71 billion. With a wealth of $34.6 billion, the Mistry family of Shapoorji Pallonji Group holds the third position on the list, while the Poonawalla family, owners of vaccine maker Serum Institute, with a wealth of $32.9 billion, stands fourth. Stockbroker and founder of D-Mart-branded grocery stores, Radhakishan Damani, claims the fifth spot on the India Rich List with a wealth of $23.4 billion
While weather forecasters remain divided on how the monsoons will play out in India over the next few months, analysts believe the news at the current juncture - at best - can trigger a knee-jerk reaction in the markets. They believe it is too early to say whether the sub-par monsoon on account of El Nino can seriously dent the market sentiment in the short-to-medium term. "These are just initial forecasts and we will have another round / status update from the weather forecasters a month down the line.
The Parsi community runs India's respected corporate houses like the Tata, Wadia and Godrej groups.
CLSA has downgraded select real estate stocks and expects most counters from this sector to consolidate in the months ahead after the sharp run seen in them in the last few months. Most positive factors in terms of a pick-up in housing demand and office space absorption, it said, are already priced in. "We expect housing industry demand to grow around 12 per cent in 2024 and for large developers to outpace industry to grow at 15 - 20 per cent.
Chennai's Great Lakes Institute of management (GLIM) has equipped its students with some knowledge of Mandarin, Chinese history and culture.
A strong supporter of the new tax regime, Adi Godrej tells Viveat Susan Pinto the second half of FY18 will be even better for consumer goods companies as challenges abate.
Renewed inflationary pressures, led by a spike in prices of vegetables and cereals, have cast a spell on the equity markets in the past month. The BSE Sensex and Nifty50 have declined up to 2 per cent each during the period, clipping the 13 per cent rally from the March lows, shows data from ACE Equity. Investors typically consider shares of fast-moving consumer goods (FMCG) companies as defensive bets, putting their weight behind them in a falling market.
Realty major DLF's chairman Rajiv Singh remains the wealthiest Indian real estate entrepreneur with a wealth of Rs 59,030 crore, according to GROHE-HURUN India. With a wealth of Rs 42,270 crore, Mangal Prabhat Lodha and his family of Mumbai-based Macrotech Developers (Lodha Group) is at the second position. Arjun Menda & family of Bengaluru-based RMZ Corp debuted at the third position on the list, with a wealth of Rs 37,000 crore.
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