Unperturbed by the change of guard at the Centre, India Inc on Thursday exuded confidence that economic reforms would continue to be the focal point of the new government even as it emphasised on stability.\n\n\n\n
India Inc has suffered a massive loss of over Rs 43,000 crore (Rs 430 billion), in the recently concluded financial year due to non-availability and mismanagement of power, a study says.
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
A survey showed as much as 95 per cent of CEOs and MDs were against Sebi's mandatory guidelines the company's to declare their quarterly performance, Assocham said in a statement.
The net profit of 82 firms up 20.2%, but topline growth slows to 14.7% on muted show by manufacturing firms.
India Inc's investment spirit is down. A majority of leading CEOs expect domestic investments and money infusion abroad by Indian companies to grow by less than 10 per cent or to decline during 2012, in view of the current economic slowdown.
India's economic growth remained subdued at 4.7 per cent in 2013-14 and at 4.6 per cent in the fourth quarter of the financial year, mainly due to a decline in manufacturing and mining output.
So let's stop focusing the Modi agenda on India Inc and the capital markets, and let's start focusing on the Modi development agenda for the average Indian.
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.
'If the government was serious about co-opting the corporate sector meaningfully in the fight against COVID-19, it could have specified activities beyond cheque-writing,' notes Kanika Datta.
The Business Confidence Index formulated by NCAER stood at a seven-year low of 91.4 points in January 2009, plummeting 41 per cent compared to a year ago period. On a quarterly basis, the index lost 24 per cent compared to October 2008. 'This (BCI) is the lowest since January 2002,' the NCAER said in its quarterly review of the business expectations survey. It said the slowdown in the markets appears to be a leading factor in influencing the fall in business expectations.
As Covid-19 cases surge in India, companies have realised it's a tightrope walk between maintaining production and ensuring employee safety.
India Inc (excluding trading and financial services companies) was sitting on a cash mountain of Rs 456,700 crore (Rs 4,567 billion) as on September 30, up 21 per cent from the same time a year before.
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Q1 results indicate more pain ahead, as slowdown has spread to more sectors, pricing power has come down and rising interest cost is eating into profits.
India Inc seems to be doing a good job of protecting investors' interests following a crackdown by the market regulator earlier this year, as the number of complaints relating to non-receipt of refunds and allotment letters have nearly halved.
The database of 194 companies has shown a revenue contraction of 2.6%.
Nine of 10 bankers who attended the meeting admitted their sanctioned loan pipeline was shrinking fast due to tepid demand.
'Historically, the markets tend to perform well during election years as governments aim to increase spending and call attention to growth.'
Corporate India is joining the AIDS battle.
Since its launch in late March after India went into a lockdown, concerns about transparency have been expressed about the PM-CARES Fund
The message is clear: The 60-year-old wise uncles need to handhold the 40-year-old entrepreneurs when, obsessed with ambition and greed for growth, they become a victim of hubris, points out Tamal Bandyopadhyay.
The employees, who took part in this study, agreed that monetary transaction at 39.2 per cent is the most prevalent form of corruption.
The slowdown is showing on the balance-sheet. During the quarter ended March 2008, India Inc reported the lowest net profit growth in the last nine quarters, after the state-owned oil marketing and power companies declared poor results.
Several fiscal and monetary incentives since December 2008 helped the industry to recover into a growth trajectory. The 10 per cent plus growth in manufacturing, basic goods, mining, electricity has been buoyed by these measures, Confederation of Indian Industry said.
Volatility in local share markets have hit India Inc's equity fund-raising plans, with the total deal value this year set to fall below the level seen in 2008.
Majority of respondents feel that the government in the forthcoming Budget will increase the standard deduction and give more incentives for housing loans.
Declining value of the rupee, widening Current Account Deficit (CAD) and the impact of likely tapering of US bond purchases are some of the key issues which will keep Raghuram Rajan busy.
Industry chamber Ficci said, Japan as a nation would overcome the calamity to reassure its place in the comity of most prominent economies of the world.
Commerce and Industry Minister Piyush Goyal has visited the manufacturing facility of US-based electric vehicle major Tesla at Fremont, California and said that the company would be doubling its auto components imports from India. The minister is in the US on a four-day visit. The world's largest electric car producer Tesla Inc's chief Elon Musk met Prime Minister Narendra Modi in June in New York and after the meeting Musk had said that he planned to visit India in 2024.
If we basically expect the government to use taxpayers' money to intervene every time when there are some 'sunsets,' then I think you introduce possible moral hazards: Subramanian.
India Inc has lost all the gains of the current fiscal in its market value with a depreciation of close to Rs 2 trillion (about $50 billion) on Monday amid a fall of over 500 points in the benchmark Sensex in less than six hours of the day's trading.
As India Inc steps up the gas to expand in the global arena, it faces the risk of stumbling on frauds, the levels of which were far higher compared to global levels, according to international consulting firm Ernst and Young.
Finance Minister P Chidambaram announced the Union Budget 2013-14 in Parliament on Thursday.
Coal, land, insurance bills are cited as govt's commitment to reforms.
As per Hewitt's annual Salary Increase Survey 2009-10, the double-digit hike in salaries are anticipated for this year led by sectors like telecom, engineering, pharma and energy.
The Year of India in Russia - as 2009 is officially known - has helped India Inc get into a long bear hug with the Russian consumer. They are lapping up everything - from Ratan Tata's marquee cars to Vijay Mallya's whisky.
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