Cooler weather meant that demand for milk products and value-added items like buttermilk and ice-cream did not show the usual rise.
'The impact of CEO transition is fairly even for stocks, with about half (53 per cent) of the events not producing any change in the relative performance of the stock.'
The S&P BSE Realty Index has emerged as one of the top-performing sectors, yielding a remarkable 45 per cent return over the past six months. The three leading players, listed by market capitalisation, have substantially enriched investor wealth by 43-70 per cent during this period. If the second quarter (Q2) of 2023-24 (FY24) updates from Macrotech Developers (Lodha) and Sobha, along with industry data for the quarter, serve as any indication, the trend of strong bookings for larger players is expected to continue.
Women leaders, succession planners and lawyers say doors in family businesses are opening but a stronger push is needed.
The Parsi community runs India's respected corporate houses like the Tata, Wadia and Godrej groups.
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'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.
Govt to play enabler not handler, India never had more decisive government: PM Modi Prime Minister Narendra Modi on Monday cited his dispensation's push for wide-ranging reforms, including the privatisation of Air India, to assert that the country never had a more "decisive government". Launching the Indian Space Association (ISpA), an industry body aspiring to be the voice of the country's space sector, Modi noted that fields like mining, coal, defence and space have been opened to private players, and said his government's clear policy about public sector enterprises is to open those to private industry where its presence is not required. While opening a host of sectors, the government has built a regulatory environment in which priority has been given to national interest as well as the interests of different stakeholders, he said.
The latest hike is likely to be followed by another such move next month, said industry players. Before the latest hike, companies had initiated price hikes to the tune of 12-13 per cent in 2021 but they weren't able to fully cover the increase in costs.
"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.
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.
With political uncertainty reaching a new high, India Inc gets more anxious.
Ratan Tata, an iconic corporate leader, retired as Chairman of the $100-billion Tata Group on Friday after a 50-year run, on his 75th birthday.
The Kanakia group, from which Mapletree did the purchase, had bought the plot from India Tube Mills and Metal Industries for Rs 363 crore in 2018.
Consumer businesses come to the rescue of large conglomerates in the midst of a meltdown in commodities.
However, rural demand continued to remain a concern for FMCG companies during the quarter.
States have been told to prepare in advance to counter any impact of an adverse southwest monsoon.
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.
Vijay Mallya, Adi Godrej, Anil Ambani and Anand Mahindra have fallen for the charms of a yacht.
'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.'
Forty Indians entered the billionaires' club in the pandemic-stricken 2020 to take the number of those in the coveted list to 177 people, a report said on Tuesday. Mukesh Ambani continued to be the wealthiest Indian with a networth of $83 billion. The head of Reliance Industries witnessed a 24 per cent jump in fortunes and climbed up one spot to be the eighth richest globally, as per the Hurun Global Rich List. Gautam Adani from Gujarat, who has had a spectacular rise in fortunes in the last few years, saw his wealth almost doubling to $32 billion in 2020 and climbed 20 places to be the 48th richest person globally and the second wealthiest Indian.
CEOs have complained that high interest rates have blocked their investment decisions. At the same time, customers are also deferring their purchases for new consumer durables, cars, and homes.
India offices of MNCs like DHL, Google and Marriott ranked among the top workplaces in Asia.
Finance Minister Nirmala Sitharaman on Tuesday unveiled a Rs 39.45 lakh crore Budget with a view to fire up the key engines of the economy to sustain a world-beating recovery from the pandemic. This was Sitharaman's fourth Budget. While the taxpayers were left in the lurch, once again, was she able to cheer Corporate India?
Partnership between Israel and India is doing wonders, the visiting prime minister tells business leaders.
Polling for the 288-seat Assembly is being held in a single-phase on Wednesday.
Feeble demand in rural areas of the country has affected sales of fast-moving consumer goods (FMCG) in September as compared to August, which saw heavy stocking ahead of the festival season, according to the data of Bizom, a retail intelligence platform. Sales in rural India fell 14.3 per cent while urban sales growth stood at 1.1 per cent in September as compared to the previous month. Overall FMCG sales fell by 9.6 per cent in September as compared to August.
'In India we have a lot of superstar worship.' 'If we lose a match, but Tendulkar hits a century people are happy that their star did not let them down.' 'This should change. People should support the team and the sport and not individuals.'
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.
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.
Pharmaceuticals, along with software and services, also added the most new entrants on the rich list 2018.
With the dizzying rise in the number of Covid-19 cases in the country, India Inc has transitioned from a wait-and-watch policy to full-on emergency mode, bringing back remote and flexi work, stringent safety protocols, and allowing only essential travel. Companies - especially in metros like Delhi, Mumbai and Kolkata - that had adopted a hybrid work model during the last few months when the caseload remained low, are either switching back entirely to work-from-home (WFH), or calling skeletal staff to office on select days. Take the case of cigarettes-to-hotels major, ITC, which had been on a hybrid work model over the last few months.
From auto, refrigerator, and mobile handset makers to real estate firms, companies are tying up with banks to dole out attractive finance schemes and discounts to make buying more affordable.
These entities did not apply for renewal of their FCRA licence. In addition, the Union home ministry also rejected renewal applications of 179 organisations, officials said.
Godrej and some other firms are frustrated at what they say is the slow execution of projects and lack of government support, which are hampering India's efforts to compete with China and Russia as a cheaper option for launching satellites.
If capital flight took place in the country in the direction of some other countries and then imports took place for consumption here, then it would be worse for the Indian economy, the noted industrialist said.
This is India's greenest building and one of the most eco-friendly buildings in the world.
Rajan has a great track record abroad.
Whether it is DLF in the National Capital Region, or Godrej Properties and Oberoi Realty in Mumbai or Sunteck Realty, Prestige Estates and Sobha Realty in Bengaluru, most top players have launched or lined up a slew of new project launches during this season.
The combined dividend payout by early-bird companies -- those that have declared their results for FY21 -- is up 8.9 per cent, lower than the 21.9 per cent rise in in FY20 but ahead of the underlying growth in India Inc business last year. Combined net sales of these early birds were down 1.8 per cent last financial year while net profit was up 27.3 per cent in FY21. Some top companies that have stepped up dividend payout in FY21 include Hindustan Unilever, Indus Towers, Tata Steel, Ultratech Cement, Larsen & Toubro, Dabur, Asian Paints, and UPL. In contrast, banks have skipped dividends under an RBI diktat while companies such as Marico, TCS, Maruti Suzuki, and Godrej Consumer are paying lower dividends for FY21.
