As Covid-19 cases recede, India Inc is once again tweaking work rules. Big tech companies such as TCS, Wipro and Infosys have either begun or are in the process of calling employees back to office in a staggered manner. A survey by Aon, a global professional services firm, has found that 60 per cent of tech firms now expect every second employee to come to office. More than half of the employees working in engineering and manufacturing firms are also being asked to return to work.
India Inc may give salary hikes in the range of 9-12 per cent in the coming financial year to retain talent amid revival in the job market, according to consultancy Ernst and Young said.
The database of 194 companies has shown a revenue contraction of 2.6%.
Private credit is fast emerging as a major source of finance for projects in India as several entrepreneurs are looking for short-term debt to bridge the funding gap due to difference in pricing for equity dilution, top officials at PwC India said. They said while new private equity (PE) investments during the past two years have declined, several public market exits by PEs were observed during that period. Several companies are likely to approach capital markets in the near future to provide liquidity to PE fund investors.
The Dun & Bradstreet Composite Business Optimism Index stands at 81.1 during the 2nd quarter of 2016
The charm of foreign shores as source of funds is getting stronger in India, with domestic firms already having raised over $13 billion (Rs 60,837 crore) from global debt markets, surpassing the 2005-figure.
The earnings of India Inc hit a record high in the 2022-23 (FY23) January-March quarter (fourth quarter, or Q4), compared with their poor showing in the previous two quarters of the financial year. The rise in earnings, however, is exclusively led by banking, financial services, and insurance (BFSI) companies. A better-than-expected showing by banks and non-bank lenders in Q4FY23 more than compensated for the earnings contraction in the non-BFSI space.
Some of India's biggest employers are testing for antibodies to either comply with regulatory norms or gauge the effectiveness of precautionary measures.
India Inc hailed the Railway Bugdet on Monday as promising and said measures, especially those on containers and freight services, will not only help the industry but benefit the general public as well.
India Inc's quarterly profit registered its biggest drop since the stock market regulator made it mandatory for firms to announce quarterly results in March 1998.
Many firms have asked those joining on April 1 to delay their on-boarding by 2-3 months. The outlook for the airline, tourism, hotel, and media industries is bleak too.
Brokerages expect India Inc to report an upturn in earnings for the March quarter of 2022-23, after a relatively muted showing in the previous two quarters. This growth is expected to be led by banking, financial services and insurance (BFSI) companies, FMCG firms, and automobile makers. The combined net profit of the Nifty50 companies (excluding Adani Enterprises) is expected to have grown 15.6 per cent to Rs 1.77 trillion in Q4FY23, from Rs 1.53 trillion a year ago.
India Inc on Tuesday sought tax cuts in the forthcoming Budget, even as it asked the government to move towards an effective goods and services tax rate of 15 per cent in the next few years.
A robust growth in revenue notwithstanding, analysts are sceptical about the first report card of India Inc in the current fiscal and expect the continuing cost pressures to lead to a fall in their first quarter profitability.
Profitability and cash reserves have halved since the global financial crisis.
India Inc's fund raising spree for expansion and growth plans has pushed up the figure of loans gathered by companies to a record $7.3 billion (about Rs 29,600 crore) so far this year, a latest report says.
Companies with no or little debt account for three-fourths of m-cap of BSE 200, excluding financial firms.
The government, industry and civil society groups agree they have no data, which they admit are the building blocks for any action for inclusive growth.
The drop in growth rate is subsequent to the corporate sector cutting investments by nearly Rs 90,000 crore (Rs 900 billion) in 2011-12 compared to 2010-11, according to the pre-Budget Economic Survey tabled by Finance Minister P Chidambaram in Parliament on Wednesday.
It works like this. There is a section in the US called 144A securities, which was launched in August 15, 2007. Trading in 144A securities takes place only among qualified brokers, dealers and QIBs. Retail investors cannot participate in this segment.
India has become the second biggest borrower in Asia Pacific by borrowing over $3.7 billion for project financing since the beginning of 2006, taking a big jump from its 10th position last year.
Aided by the $57.8-billion merger of HDFC Bank and HDFC, India Inc reported its highest ever mergers and acquisitions in calendar 2022 at $171 billion as against deals worth $145 billion announced last year. The acquisition by the Adani group across cement, media and ports dominated the headlines with the conglomerate making its foray into the cement sector by buying Swiss materials firm Holcim's stake in Ambuja Cements for $6.5 billion. The Adani family's additional $4-billion open offer for Ambuja did not get a response because shareholders preferred to stay invested with the new owner.
President A P J Abdul Kalam on Wednesday called upon India Inc to come together and create a separate rural development fund for bridging the urban and rural divide.
Average salary of the 100 best-paid directors is 1% of their companies' net profit.
Naukri.com's monthly Job Speak index declined to 701 in August as compared to 727 in July, recording a drop of 3.6 per cent. However, the three-month moving average index indicates a positive trend and has inched up by 1.7 per cent to 715 in August from 703 in July.
A back-of-the-envelope calculation suggests that the total mobilisation through share issues (including rights, initial and follow-on issues) will be at least Rs 1.04 lakh crore (Rs 1.04 trillion).
In a culture where children take up the profession of their father, her becoming a politician was seen as natural and acceptable.
The early results from corporate India for the first quarter of 2015-16 are in, and these strongly suggest that a cyclical recovery is underway.
Indian firms mop up a meagre Rs 63 cr against Rs 247 cr raised in May.
According to data compiled by global consultancy firm Grant Thornton, the volume of M&A deals by Indian companies in countries like Brazil, Scotland, Netherlands and Canada is greater than that in the UK. The value of the nine deals in the UK clinched by Indian firms so far this year stands at just $58.50 million, while India Inc acquired four companies in Canada for a total of $166.70 million, one deal in Scotland for $80 million and another in Brazil for over $33 million.
Differing with Prime Minister Manmohan Singh, who feels the corporate sector has been harsh in blaming the government, leading players in India Inc say a policy paralysis in the government and its inability to push reforms have indeed led to an economic slowdown and Singh's criticism is not justified.
India Inc has mobilised a whopping Rs 23,252 crore (Rs 232.52 billion) through private placement of bonds in the first three months of current fiscal, even as government entities witnessed a decline in such borrowings.
Events to keep an eye out for...
India Inc's share of the global public and additional offerings was unchanged at 2.30 per cent in 2006 with 125 Indian firms mopping up $12.97 billion.
The stellar rise in corporate earnings in financial year 2021-22 (FY21) and FY22 did not result in a corresponding boom in capital expenditure (capex), with listed companies' investment in fixed assets rising just 2.3 per cent year-on-year (YoY) in FY22, growing at the slowest pace in the last six years. In comparison, the firms' combined net profit jumped 63.5 per cent YoY in FY22, while net sales increased 31.1 per cent - the fastest pace in over a decade. The 955 non-financial companies in Business Standard's sample reported combined net profit of Rs 7.18 trillion in FY22, compared with Rs 4.39 trillion in FY21 and Rs 2.59 trillion in FY20.
Enthused by Prime Minister Manmohan Singh's proposed visit to world's premier New York Stock Exchange on Wednesday, analysts say it will have a 'positive impact' and revive India Inc's dream for overseas listing.
