From helping their employees infected with the Covid-19 virus to vaccinating them or supporting the families of those who might have succumbed to the infection, several companies in India are trying to do their bit in this difficult time. Some have even widened their support net to include all stakeholders as well as an extended community. To the families of the employees it lost to Covid-19, Noida-headquartered IT services and consulting company HCL Technologies is, for instance, paying salary for a year, medical insurance for three years and extending support for their children's education for five years.
The BSE Realty index-a gauge of real estate stocks-rose 4.2 per cent on Monday, extending its two-day advance to 7.8 per cent. The latest gains came on the back of robust sales posted by realty developers in the March quarter of financial year 2022-23 (Q4FY23). On Thursday, the rate-sensitive index had gained 2.9 per cent following the Reserve Bank of India's decision to pause interest rate hikes in its latest monetary policy review.
India Inc has pitched for rate cut to boost economic activities.
The FMCG sector is generally considered to be a safe haven during difficult times as people never stop buying soap and toothpaste. However, weak rural and semi-urban demand has been a factor since the lockdowns of 2020-21 while rising inflation has also impacted margins. While the FMCG majors have survived on the basis of price hikes and good management practices, they have seen growth slowdowns and experienced margins being squeezed as raw materials and transport costs rose. The FMCG sector witnessed positive volume growth in the fourth quarter of the 2022-23 financial year (Q4FY23) after five consecutive quarters of decline, and the rebound in demand was led by urban markets.
'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.'
One thing has remained constant through the Indian economy in the last seven decades: the dominance of family-owned businesses. Krishna Kant reports.
'The main thing Cyrus left is to tell us that you can be a business leader by being good.' 'He practiced that in all of his dealings, in all of his decisions -- in the way he thought, the way he behaved and indeed as he spoke.'
Inflation and asset prices have eroded the value of money.
Carnival group buys project in Chandigarh from L&T for Rs 1,785 cr.
Registration of housing properties in the Mumbai municipal region increased 35 per cent year-on-year to 7,556 units during this month on rising demand, according to Knight Frank. The registrations for September 2021 were 87 per cent higher compared to the pre-pandemic period of September 2019. "Mumbai BMC region (Churchgate to Dahisar and Colaba to Mulund) recorded its best September month performance. Recording 35 per cent YoY growth in property registrations in September 2021, 7,556 units is a 10-year best performance in the month of September," Knight Frank said in a statement.
India's residential market is expected to sustain demand momentum despite rise in mortgage and property rates as sales this year across the top 7 cities are likely to breach pre-pandemic level of 2.62 lakh units, industry players said. After braving four back-to-back disruptions in form of demonetisation, RERA, GST and COVID-19 in the last 6 years, industry experts feel the housing market is going through a lot of structural changes and is now at the start of a long-term upcycle. Homebuyers body FPCE gives credit to the Real Estate Regulatory Authority (RERA) under the Real Estate (Regulation & Development) Act, 2016 for this improved buying sentiment.
CEOs are not happy with scorecard so far but are ready to invest more as they think one year is too short a time to revive the economy
Cooler weather meant that demand for milk products and value-added items like buttermilk and ice-cream did not show the usual rise.
Transparency is more than welcome, but govt should not look vindictive.
The combined networth of India's 100 wealthiest is $381 billion (nearly Rs 25.5 lakh crore), a rise of 10 per cent from $ 345 billion in 2015
Laughter was a component of Parmeshar Godrej's large-hearted Punjabi spirit, recalls Sunil Sethi.
Others in the top 10 include Uday Kotak at the 6th place with a wealth of Rs 94,100 crore, Cyrus S Poonawalla at 7th position with Rs 88,800 crore assets, Cyrus Pallonji Mistry at 8th spot with a wealth of Rs 76,800 crore, Shapoor Pallonji at 9th position with a net worth of Rs 76,800 crore and Dilip Shanghvi at 10th slot with Rs 71,500-crore wealth.
It includes a session with Gadkari on analysing the initiatives needed to bridge the $1 trillion infrastructure deficit in the country.
The government plans to take India into the top 50 ranks in ease of doing business in the next two years with efforts such as shifting all applications for industrial licenses online.
Jaitley slammed lack of ethics in certain sections of businesses and said multiple layers of auditing system chose to either look the other way or did a casual job.
'It is inconceivable that there are no gays working in Indian corporations but obviously, the subject remains taboo enough in the workplace for those of alternate sexual orientation to feel safer remaining in the closet,' notes Kanika Datta.
'We all wanted a strong Centre with a decisive mandate from the people, to allow them to take bold decisions.'
Women have been and continue to be an integral part of Tata Global Beverages' business, across the world, says Cyrus Mistry.
The school was run on strict Gandhian lines, with stress on students doing things themselves. Physical comforts were minimal, in keeping with the relatively backward geographical area. But it had a staff of teachers dedicated to educating their students, not just imparting them book-learning, remembers Shreekant Sambrani.
Across the country, companies have stepped up their act to contain the crisis. IT and other new economy firms seem to have taken a lead.
Fast cars, marathons, golfing and shooting - nothing stops these high-power tycoons from pursuing their passion.
Akhilesh Yadav is now seeking to devote the remaining 18 months of his tenure in casting the state in a new mould.
States have been told to prepare in advance to counter any impact of an adverse southwest monsoon.
The Adani group has the maximum number of companies in the trillion club at five, followed by the Tata group (four).
Richest 10 account for 41% of promoter wealth, up from 33% in December 2018, says Krishna Kant.
The office, spread over 52,775 square feet carpet area, in Mumbai's suburban financial centre Bandra Kurla Complex, is on the fourth floor of the building 'Jet Airways Godrej BKC'.
Some of the country's largest listed real estate developers - DLF, Prestige Estates, and Puravankara - are foraying into the Rs 50,000-crore residential property market of Mumbai, where home prices are among the highest in the world. All of them are set to launch residential projects in the financial capital of the country, where the market is dominated by players such as Runwal, Lodha, and Oberoi Realty, among others. Leading the race is Prestige, which has lined up 6 million square feet (msf) of new launches in the city across Mulund and Byculla in the third quarter of this financial year (2021-22).
Women leaders, succession planners and lawyers say doors in family businesses are opening but a stronger push is needed.
'If the authorities go about completing this project the way they have proposed, this is going to cause a HUGE environmental impact not only on Malabar Hill but also on the rest of the city.'
India's real estate industry staged a rebound from 2020's downturn, with housing sales seen rising by over 50 per cent. The performance, though short of pre-COVID levels, has property developers hoping for stronger gains in the New Year and the beginning of a long upcycle. A strong foundation has been laid this year for revival in the Indian real estate sector, which is projected to reach $1 trillion mark by 2030 from $200 billion in the pre-pandemic year.
Though the intent has been hailed as good for the economy, teething problems remain with a five-rate structure for various goods and services
Dr Ashok Ganguly, former chairman of Hindustan Lever and a Rajya Sabha MP, and one of the signatories to the recent open letter to the government by a group of 14 eminent people, speaks about the issues raised in the letter.
Age and experience not less relevant but firms are gradually moving towards younger leadership teams
Shapoorji, Kalpataru, Godrej pursuing Rs 60,000 crore opportunity in the region
Ajit Mishra, vice president, Research, Religare Broking, answers your stock market queries.
