With political uncertainty reaching a new high, India Inc gets more anxious.
Consumer businesses come to the rescue of large conglomerates in the midst of a meltdown in commodities.
Geithner and Bernanke held talks with India's major multinational corporations.
The main risk to the fiscal deficit arises from subsidies, which are threatening to far exceed the provision made for them in the Budget.
Marico's chief executive officer (Consumer Products Business) Saugata Gupta, too, affirmed that his company was being cautious in dealings with such retailers. FMCG companies work on tight credit cycles. On the other hand, modern trade retailers such as Aditya Birla Group's More, RPG's Spencer, Mukesh Ambani group's Reliance Fresh, Subhiksha and Vishal have been expanding aggressively over the last couple of years.
India produced 179 more super-rich people this year led by Adani Group's Gautam Adani who amassed a whopping wealth of Rs 365,700 crore or more than Rs 1,000 crore daily, and the number of such individuals has crossed the 1,000-mark. Geographically, five more cities are home to super-rich taking the total number of super-rich cities to 119 and these 1,007 individuals cumulatively added 51 per cent more wealth in 2021. The average wealth increased by 25 per cent this year that also saw the livelihoods of thousands of people being hit by the coronavirus pandemic.
"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.
Adi Godrej says he hopes the government would address industry's apprehensions over some of the Budget taxation proposals on stalled reforms and so on.
As the second wave of the pandemic ebbs and the daily caseload falls, the struggles of the urban poor have come into focus. Many have suffered income and job losses after two successive waves. The second wave, in particular, has seen the poor being hit hard on account of lack of medical and financial help. For the fast-moving consumer goods (FMCG) companies this has meant that an important segment is under severe distress.
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.
Indian consumer durable market faces competition from Korean dealers.
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.
Makers of air conditioners, beverage and ice-cream are hopeful of a boost in sales
FMCG CEOs indicate that the market should stabilise post the general elections and that some growth should make its way back especially in rural areas
Polling for the 288-seat Assembly is being held in a single-phase on Wednesday.
Fardeen Khan hasn't been seen in these parts for a long time.
The chat show queen was in her element during her Mumbai visit.
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.
The actress met with the American talk show host at Parmeshwar Godrej's party on Monday evening.
The actress met with the American talk show host at Parmeshwar Godrej's party on Monday evening.
The country's top FMCG stocks, such as Hindustan Unilever, ITC, Nestl, Britannia, Godrej Consumer Products, and Dabur, among others, are currently trading at around 41x their trailing 12-month earnings, down from their peak P/E multiple of around 48x at the end of December 2018.
'The mental issues are too complex to be handled.' 'It is hitting us hard for one reason.' 'We have such a high level of fear about this disease.'
Indian Defence Minister A K Antony is 'very suspicious of the private sector', leading Indian business baron Jamshyd N Godrej has said.
The Indian IT services sector is scrambling to retain talent since digitisation-led transformation has increased the demand for a digitally skilled workforce. As a result, the pull for jobs for tech professionals is also coming from non-IT sectors, leading to higher attrition among IT companies. The average number of tech jobs from non-IT sectors has seen a 41 per cent uptick in March-May'21 versus March-May'19, according to data from Naukri.com.
"Both domestic and international business grew well this quarter. Growth in net sales of the domestic business was close to 50 per cent, while the international business saw nearly a three-fold growth during the same period. Our international acquisitions have played a role in helping us register good numbers this quarter."
The US-India Business Council (USIBC) in coordination with the Confederation of Indian Industry (CII) and Federation of Indian Chambers of Commerce & Industry (Ficci) is preparing a list of invitees for the business summit to be addressed by visiting US President Barack Obama.
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.
Chocolate and confectionery maker, The Hershey Company, is finally set to enter the Indian market by acquiring the stakes in Mumbai-based Godrej Beverages and Foods.
CLSA says any correction in the market due to poll related uncertainty could be a buying opportunity.
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.
Godrej Upstream Limited is recruiting Customer Service Representatives.
Partnership between Israel and India is doing wonders, the visiting prime minister tells business leaders.
There has been an uptick in interest in the FMCG sector after a long time and results were pretty good this quarter.
Age and experience not less relevant but firms are gradually moving towards younger leadership teams
Vijay Mallya, Adi Godrej, Anil Ambani and Anand Mahindra have fallen for the charms of a yacht.
Ajit Mishra, vice president, research, Religare Broking, answers your stockmarket queries.
The heiresses chose to live a low key life, spending much of their time trying to live up to their family's legacy.
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?
