India Inc's net profit as a percentage of the country's gross domestic product (GDP) is just shy of reaching 5 per cent, bolstered by strong earnings growth in the second quarter of 2023-24. Analysts interpret this as an indication that a corporate profit upcycle is in progress, with projections suggesting that this share could exceed 8 per cent within the next five years, driven by bullish earnings growth expectations. "We believe we are only halfway through a profit cycle, with the profit share in GDP rising from a low of 2 per cent in 2020 to about 5 per cent currently, and likely heading to 8 per cent in the coming four to five years. "This implies about 20 per cent compounding of earnings growth. "Underscoring this forecast is the start of a new private capex cycle, under-geared balance sheets, a healthy banking system, lower corporate tax rates, improving terms of trade, and structural consumption demand outlook albeit somewhat offset by likely consolidation in government deficit," said Ridham Desai, managing director, head of research, Morgan Stanley India in a note.
'Netflix, Amazon Prime Video, Crunchyroll, and Disney+ Hotstar are continuously expanding their Anime libraries.'
'The Budget must be pro-growth, focusing on infrastructure creation while also managing the fiscal deficit.'
Hemant V Shivsaran/Rediff.com does a deep dive and lists the winners with the highest and lowest margins in the recent Lok Sabha elections.
'We are getting to understand the mind of this generation.' 'Minor tweaks are being made to ease the process as we go along.'
US short-seller Hindenburg Research has said it is not under investigation by the US SEC as it rubbished alleged links of its founder to a hedge fund for preparing reports targeting companies.
We the people are left in the wind, waiting on the whims of an unengaged president and an oligarch with a nearly bottomless wallet, observes Sree Sreenivasan.
US senators have alleged that TikTok, owned by the Chinese Communist Party, has interfered in elections of various countries, including India, and called for extending the deadline for a ban on the platform in the US. They applauded India's ban on the social media platform, citing concerns about Chinese propaganda and data harvesting. Lawmakers, including Democrats and Republicans, introduced legislation to delay the ban by 270 days, arguing it would allow for a more thorough review of the implications and potential alternatives to a ban. They also criticized the rushed nature of the ban and its potential impact on free speech and the livelihoods of American users.
Finance Minister Nirmala Sitharaman on Tuesday sought to know from industry what is holding it back from investing in manufacturing, even though foreign investors show confidence in India. Drawing parallel between India Inc and mythological character 'Hanuman', Sitharaman said the government is willing to engage with the industry and take policy action. "This is the time for India... We cannot miss the bus," she added.
Under the National Apprenticeship Promotion Scheme, close to 1 million apprentices will be trained in FY24.
The Enforcement Directorate (ED) on Saturday said it has detected alleged irregularities after it conducted raids in a money laundering case to probe 'black marketing' of tickets for two 'highly anticipated' music concerts by British rock band Coldplay and actor-singer Diljit Dosanjh.
'The message is loud and clear: "If you're not falling in line, we will open a line of understanding with the MNS, and then the Shiv Sena will be in trouble".'
The results of the assembly elections will be announced on October 8.
Mallika gets nostalgic... Manushii is caught on set... Ranveer shows us what his day is made of...
"I'm amazed channels are bothering with exit polls especially after the fiasco of the recent general elections. I'm ignoring all the noise on channels, social media, WhatsApp etc. because the only numbers that matter will be revealed on the 8th of Oct. The rest is just time pass," Abdullah, a former chief minister, wrote on X.
The Election Commission on Wednesday dubbed the 'Haryana results unacceptable' statement of senior Congress leaders as 'unheard in the rich democratic heritage' of the country and far from a legitimate part of free speech.
The post-Covid pandemic boom in corporate revenues appeared to have faded away in 2023-24. Yet, companies have reported a sharp recovery in their profits in FY24, driven by high margins. Their combined net sales, including gross interest income for lenders, rose by a modest 4.8 per cent year-on-year (Y-o-Y) in FY24.
In the June quarter of 2024-2025, smartphone exports hit $2 billion, well ahead of non-industrial diamond exports, which stood at $1.44 billion.
The Indian National Congress, India's oldest political party, is moving from its longtime headquarters at 24 Akbar Road to a new building called Indira Gandhi Bhawan. The move marks the end of an era for the Congress, which has been headquartered at 24 Akbar Road for nearly 50 years.
Who says fast food places know how to make burgers best. You can too. And well.
'Retail investors, who had not seen such a massive correction in the SMID universe since COVID-19, are witnessing something like this for the first time. Panic profit booking may continue.'
From installing water-saving aerators on taps to using cans for washing hands and dishes, Bengaluru is adopting diverse strategies to tide over the water crisis. While several citizens have taken to social media to urge Karnataka Chief Minister Siddaramaiah to make work from home mandatory for IT companies, it appears that hybrid mode will continue to be the norm for most - although with new water conservation measures in place. Co-working space provider Urban Vault has, for instance, installed smart water meters to detect leakage.
Dalal Street had a roller coaster ride in 2024 from shattering record after record to facing heavy correction off-late but equity markets still rewarded investors with positive returns, driven by a surge in domestic fund flows and a resilient macro landscape. The first half of the year saw robust corporate earnings, a surge in domestic flows, and a resilient macro landscape, driving the Nifty to an all-time high of 26,277.35 in September 2024, according to Motilal Oswal Wealth Management.
'Not paying workers enough will end up being self-destructive or harmful for the corporate sector itself.'
'It will bring the next wave of awareness and pursuit of excellence from people who want to take chess as a game or a competitive sport or even as a career.'
After winning the double gold medals at the Chess Olympiad, Telangana Chief Minister, Revanth Reddy, on Friday announced a cash reward of Rs. 25 lakhs for each Indian chess grandmaster, Arjun Erigaisi and Harika Dronavalli.
Group Captain Shubhanshu Shukla and Group Captain Prasanth Balakrishnan Nair have been selected for an upcoming Indo-US mission to the International Space Station (ISS), the Indian Space Research Organisation (ISRO) announced on Friday.
Corporate India reported high double-digit growth in net profit for the fourth consecutive quarter in October-December 2023 (Q3FY24), driven by margin gains from lower prices of raw material and energy.
The Congress on Friday hit out at the Election Commission after it rejected allegations over irregularities in the Haryana assembly polls, saying if the poll panel's goal is to 'strip itself of the last vestiges of neutrality', then it is doing a 'remarkable job' at creating that impression.
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.
Dhoni endorses 42 brands to Bachchan's 41 and SRK's 34.
Newcastle United's clash with AFC Wimbledon was postponed after flooding damaged the Wimbledon pitch on Monday.
'In addition, we have geopolitics and politics and all the other things that will affect commodity prices.'
Prime Minister Narendra Modi urged CEOs of US majors to take advantage of India's growth story as the country is making all efforts to become the third largest economy of the world in his third term. India is currently the fifth largest economy of the world after the US, China, Germany and Japan with a GDP of around $3.9 trillion. India has been the fastest growing large economies of the world with GDP growth rate of over 7 per cent for the last three consecutive years.
The banking sector emerged as an outlier when the rest of India Inc witnessed a slowdown in earnings in FY23. The combined net profit of listed public and private sector banks was up 39.4 per cent year-on-year (YoY) last financial year and their share in India's gross value added (GVA) or gross domestic product (GDP) at factor cost rose to a record high of nearly 1 per cent up, from 0.8 per cent a year ago. Listed banks' combined net profit grew to Rs 2.36 trillion in FY23, from Rs 1.69 trillion a year ago. In comparison, India GVA at current prices was up 15.2 per cent YoY at Rs 247 trillion in FY23; it was around Rs 214 trillion a year ago.
In a sign of the expanding Apple supplier ecosystem in India, American multinational Jabil Inc will set up an electronics manufacturing facility in Tiruchirappalli, Tamil Nadu with an investment of Rs 2,000 crore. Jabil is one of the 14 Apple suppliers in India, of around 200 globally, while another 14 have reportedly received preliminary clearance to form joint ventures with Indian companies to set up facilities. Interestingly, of the 14 existing manufacturing units in the Apple supply chain, seven are already in Tamil Nadu.
Foreign currency loans raised by Indian companies nosedived to $210 million in the September quarter (Q2), 93.3 per cent less than the year-ago period when five firms raised $3.1 billion. The Q2 amount is the lowest since December 2003 quarter when India Inc raised $191 million. Companies cited volatility in the currency markets, sharp rise in interest rates in the United States, and fund availability in India as the main reasons behind the sharp fall.
In the Union Budget for Financial Year 2023-24 (FY24), Finance Minister Nirmala Sitharaman had held forth on the need for better governance and investor protection in the banking sector. She had proposed certain amendments to the Reserve Bank of India Act (RBI Act), 1934; the Banking Regulation Act (BR Act), 1949; and the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970.
US lenders on Tuesday said that the Delaware Supreme Court ruling has affirmed that Byju's defaulted on Term Loan B while the edtech firm asserted that it has no impact on legal proceedings going on in India. Byju's US-based lenders on Tuesday said the Delaware Supreme Court (SC) in its September 23 order affirmed the previous ruling by the Delaware Court of Chancery and said an event of default had occurred under the credit agreement and entitled Byju's lenders and their administrative agent, GLAS Trust, for action against the company.
US lenders represented by Glas Trust have countered Byju's founder Byju Raveendran's claim on verified debt on the company being merely around Rs 20 crore, and have said that the beleaguered edtech firm will have to pay the entire $1.2 billion Term Loan B along with interest. The founder of Think and Learn (TLPL) and owner of Byju's brand, Byju Raveendran, had about a week ago said that verified debt on the company is only Rs 20 crore as per insolvency proceedings and he may not have to pay any money to the US lenders represented by Glas Trust.
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