The government is drawing up a relief package for industry with steps such as relaxation of asset-classification norms by banks, thus allowing companies to delay the repayment of loans, and tax holidays for the worst-hit sectors like aviation and hospitality. But it might not be enough to stop more bankruptcies from getting filed.
At a time when the global job scenario is gloomy, India Inc is expected to increase salaries up to eight per cent this year with infrastructure and FMCG sectors likely to see the maximum hikes, global HR consultancy Mercer says.
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.
The government has unleashed a slew of reforms to attract greater investments including higher foreign direct investment in defence and opening up the railways infrastructure sector, relaxed labour laws, launched campaigns like the Make in India for re-invigorating manufacturing, Clean India and Digital India, among others.
According to assurance, tax and advisory firm Grant Thornton, corporates in the country announced 458 deals in the January-November period amounting to $26.76 billion.
Top companies across sectors -- automobile maker Maruti Suzuki, consumer electronics giant Samsung to IT giant Infosys -- have reopened factories and offices as India took its first steps towards resuming economic activity after weeks under a near-total coronavirus lockdown.
India and China are the only two countries who have reported a slight dip in pay hike.
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.
Blue chip Indian companies are letting go human resource to attain cost-efficiencies.
India Inc on Thursday expressed fear that the RBI's decision to raise key short-term rates will push up the cost of borrowing, making some of their projects unviable and hurting expansion plans.
Overall business confidence index is at 6-quarter high: Ficci survey
A majority of the CEOs are expecting the economy to show growth in the next financial year on the back of rising consumer spending and a sharp turnaround in rural India.
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The rate cut, the industry chambers argued, could have given a positive signal to the manufacturing sector, which is undergoing difficult times.
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.
The government on Tuesday extended till March 15 the deadline for corporate to file Income Tax returns for the fiscal ended March 2021. The deadline to file tax audit report and transfer pricing audit report for 2020-21 fiscal too has been extended till February 15. This is the third extension given to corporate for filing the income tax return for 2020-21 fiscal.
Aggregate figures for a sample of 43 companies (excluding oil & gas PSUs as well as those in the banking, telecom and software sectors) in the BSE 100 index suggest that operating profit margins (OPMs) were down by 63 basis points (bps) year-on-year in the December quarter and that there appears to be no major causes for concern.
Corporate India's deal activity in the period between January till March this year was better than last year.
There, however, has been an improvement in operating margins.
While some such as Hindalco, JSW Steel, India Cements, Essar Oil, Tata Steel and Jet Airways have already announced plans to raise a combined Rs 70,000 crore, there are many who are redrawing proposals to enter the market to raise money.
According to the survey by Hong Kong-based HR Business Solutions, Asia Pacific's average pay increase (expected) for 2010 is 4.8 per cent, higher than an actual pay increase of 3.2 per cent in 2009.
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.
Govt has decided to suspend Sections 7, 9, and 10, which are used to trigger insolvency proceedings for six months or a period not exceeding one year from the date they commence.
Experts say the focus is on preserving liquidity as there is uncertainty over the duration and impact of the 21-day nationwide lockdown imposed to check the spread of COVID-19.
The stimulus packages should continue for another year or at least till October 31, he said, pointing out that the economy is yet to achieve the pre-crisis level of nine per cent.
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.
At least 150 companies, including some from the Tata Group, have started collecting data about their SC/ST employees, as India Inc is no more "caste blind", according to a CII paper on affirmative action.
Starting April 1, a non-executive director of 75 years or more can be appointed or re-appointed only by way of a special resolution, which requires 75 per cent 'for' votes.
The party said it was 'an inexcusable slip-up', for which responsibility was being fixed and action would be taken.
Stressed MSME borrowers would be eligible for restructuring of debt, if their accounts were classified standard.
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.
The lockdown has taught companies a lesson or two on running business with fewer human resources. These lessons are unlikely to be forgotten, observes Mahesh Vyas.
According to the Icra report, earnings before interest, tax, depreciation and amortisation margin of its sample declined by 44 basis points on a YoY basis and 23 basis points on a quarter-on-quarter basis to 16.6 per cent.
Yunus will teach India Inc why and how social business is not charity but business wherein a surplus is passed on to the target group of beneficiaries in the form of lower prices, better service and greater access
June indicates a change in trend from previous quarters in terms of how much companies are spending on employees. The worst hit sectors included steel, air transport service and automobile firms.
Introduction of GST would make Indian products competitive in the domestic and international markets.
Prime Minister Narendra Modi is making his inaugural address on the 95th Annual Day of Indian Chamber of Commerce via video conferencing.
In a survey by BS reporters across India, a majority of the 25 CEOs who responded said they expected the FM to introduce amendments to the I-T Act which would reduce litigation in tax disputes between firms and the revenue authorities.
The rumour verification process would now be triggered by changes in price or 'material price movements', as the paper defines it. What this means is that companies would need to verify rumours only if the share price moves significantly.
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