Age and experience not less relevant but firms are gradually moving towards younger leadership teams
The heiresses chose to live a low key life, spending much of their time trying to live up to their family's legacy.
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.
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.
Ajit Mishra, vice president, research, Religare Broking, answers your queries.
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?
Partnership between Israel and India is doing wonders, the visiting prime minister tells business leaders.
'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.'
CLSA says any correction in the market due to poll related uncertainty could be a buying opportunity.
Inflation and asset prices have eroded the value of money.
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.
Consumer durable firms, including Haier, Whirlpool, Panasonic, Godrej Appliances and Daikin, are increasing prices of their products by up to 5 per cent following the withdrawal of excise duty sops, coupled with high input costs.
Today, when you buy a door or a window in wood, you are not aware that you are depleting forests. Tomorrow, your wood will have to be certified that it is from a sustainable forest, says R Parasu Raman, Vice Chairman, WGBC.
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.
India offices of MNCs like DHL, Google and Marriott ranked among the top workplaces in Asia.
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.
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.
Rajan has a great track record abroad.
Apartment prices at Planet Godrej, a premium residential property developed by Godrej Properties in the tony Mahalaxmi area of Mumbai, had come down to as low as Rs 17,000 to Rs 18,000 a sq ft in the property market slowdown last year.
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.
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.
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.
For most companies this would mean extending medical coverage to same-sex partners, say legal experts.
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.
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.
Listed Mumbai developers are battling higher inventory levels.
'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.'
Shift to new business model to help companies cut capital cost, increase margins.
Business heads of three leading Indian firms from as many sectors - automaker Mahindra and Mahindra, consumer goods major Godrej and biotechnology firm Biocon - on Monday said they were looking at acquisitions in overseas markets as the rupee appreciation had made such plans a good-value proposition.
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.
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.
According to sources, government officials have asked industry bodies and manufacturers to submit key concerns and requirements to begin manufacturing activity.
The revised offer will mean the lenders will have to write off 60 per cent of their dues.
Gautam Adani, who is diversifying into many businesses, saw a 48 per cent rise in his wealth to Rs 1.40 lakh crore and moved up two places in rankings to being the fourth richest Indian. Hinduja Brothers and HCL's Shiv Nadar were ranked 2nd and 3rd. Wipro's Azim Premji slipped two places to fifth place.
The government was hoping to roll out the GST regime from April 2016.
As many as 14 Indian families have made it to the inaugural list of Forbes' 50 richest families in Asia.
Analysts, however, suggest investors remain selective on realty stocks and buy only where there is revenue visibility and a credible promoter backing.
Developers announce new projects, vacant land being unlocked
