Corporate India at present is more indebted than all state govts put together.
A study of 435 companies listed on the Bombay Stock Exchange, which provide their capital-employed data on a quarterly basis, shows capex grew by a meagre 3.4 per cent in the nine months ending December 2009, compared to the level in March 2009.
The sales growth rate has been a 10-quarter low, dragged by slowdown in the key sectors -- capital goods, construction, infrastructure, non ferrous metals, steel and telecom -- that had contributed to India Inc's growth story in the past.
Talking corporate heads are a barometer of the business community's engagement with the economy. If they have nothing to say now there should be cause for concern.
Finance Minister Nirmala Sitharaman on Thursday said the government will consider the Production Linked Incentive (PLI) scheme for Chemicals and Petrochemicals sector to make India a manufacturing hub for such products. In view of stringent pollution control regulations and rising labour cost, she said, global manufacturers in the chemical industry are looking at diversifying their products and production capability and India stands out as an alternative destination for manufacturing. Besides, India offers a large domestic market, she said while addressing the third edition of the summit on 'Global Chemicals and Petrochemicals Manufacturing Hubs in India'.
'He doesn't need to play eye candy or a boy next door. He has found his mark.' 'Brands like him because he understands them and he emotes appropriately for them.'
A fundraising boom in the domestic market and tightening of the regulatory framework for overseas issues are responsible for this trend.
If viewed rationally, the report should, thus, somewhat defuse the panic around "unique levels" of corruption in India, revealing that the country and its private sector have relatively robust processes in place, allowing for the eventual revelation of corrupt practices.
'With this revamp the anonymous journey of the user will begin wherein he will not have to sign in every time he accesses the app.'
Our caste warriors will not even ask these questions, let alone explore better solutions to address the problems of inequality and skewed life outcomes, argues R Jagannathan.
This was even as the country's economy grew by 7.3%.
US-based retail giant Walmart is looking to source toys, shoes and bicycles from Indian suppliers as the company is targeting to increase its exports from India to USD 10 billion annually by 2027. The company also wants to develop new suppliers in categories such as food, pharmaceuticals, consumables, health and wellness, and apparel and home textiles, a company spokesperson told PTI. Officials from the Bentonville-headquartered firm recently held a virtual meeting with several domestic toy manufacturers in India.
Leading drug firms Aurobindo Pharma, Sun Pharma and Jubilant are recalling different products in the US market for various reasons, as per the latest enforcement report by the US Food and Drug Administration (USFDA). While Aurobindo Pharma is recalling Cyanocobalamin Injection, which is used to treat and prevent lack of vitamin B12, Mumbai-based Sun Pharma is recalling a drug used to increase the production of natural tears in eyes. Similarly, Jubilant Cadista is recalling a drug which is used to treat different inflammatory conditions.
The overtures by CPI-M state secretary MV Govindan had upset the Congress that had, subsequently, accused the Left party of turning the UCC into a Hindu versus Muslim issue for gaining political mileage.
The infrastructure sector, however, felt the package was insufficient and wanted additional measures. "The government's package is inadequate. We expected at least $20 billion relief package, giving emphasis to the infrastructure sector.
Most of the Adani Group companies fell in the morning trade on Friday and flagship Adani Enterprises tumbled 10 per cent after index provider MSCI decided to reduce the weightage of four firms in its indices following a review. Amid volatile trading in the market, seven Adani Group firms were in the negative territory while three others were in the green. Adani Enterprises plunged 10 per cent to Rs 1,734.60 per share, its lower price band on the BSE, and the company's market valuation dropped to Rs 2.14 lakh crore.
Corporates understand that the PMO drives all key decisions in this government.
All these male politicians are unlikely to risk their sinecures to speak up in support of a bunch of women wrestlers who have chosen to challenge a politician who appears to have the ruling regime in a stranglehold, points out Kanika Datta.
The move to ban Rs 500 and 1000 notes may not curb the root cause of black money.
Corporates' forex borrowings have grown at a CAGR of 15.6% since 2008.
The survey revealed that unethical behaviour still persists, with a majority of respondents justifying unfair actions undertaken to survive the economic downturn.
CEOs have complained that high interest rates have blocked their investment decisions. At the same time, customers are also deferring their purchases for new consumer durables, cars, and homes.
"Namaste...Saal Mubarak...Diyas (Dipawali lights)... Diwali... Mumbaikars and Dharavi" were some of the expressions and words that Obama used in his interaction with a select group of leading industrialists.
Several leading industrialists, including Reliance Industries CMD Mukesh Ambani, Vedanta Resources Limited executive chairman Anil Agarwal, chairman emeritus of Tata Sons Ratan Tata, Mahindra Group chairman Anand Mahindra, Paytm Founder and CEO Vijay Shekhar Sharma, Welspun Group chairman and Assocham president B K Goenka, attended the swearing-in ceremony.
US-based electric vehicle maker Tesla is looking to source components worth around $1.9 billion this year against $1 billion last year, Commerce and Industry Minister Piyush Goyal said on Wednesday. The minister said that going forward, demand for electric vehicles will increase and it will help in pushing the growth of the sector. "Tesla already last year bought one billion dollars of components from I think all of you sitting here.... I have the list of companies who supply to Tesla.
Has liberalisation squeezed the personality out of India Inc's leaders?
Esmark Inc. has entered into a joint venture with Brazilian iron-ore producer Companhia Vale do Rio Doce and Ukrainian steelmeker Industrial Union of Donbass Corp to purchase the plant.
There is deep angst and growing concern by America Inc, over India's Preferential Market Access policy and fears that as a quid pro quo, lawmakers in the US Congress may limit or even prohibit the free movement of Indian technical professionals, including quashing efforts to expand the H-1 B visa program.
Drug major Sun Pharma is recalling over 34,000 bottles of a generic medication, used to treat high blood pressure, in the US market due to failed dissolution testing. As per the US Food and Drug Administration's Enforcement Report, the US-based arm of Sun Pharmaceutical Industries is recalling lots of Diltiazem Hydrochloride extended-release capsules which are used to treat angina, high blood pressure and some types of irregular heartbeats.
The environment looks conducive for growth for corporate India and thus we believe that equities would continue to deliver decent returns over the long term. \n\n
Besides INC's documents for the year 2010-2011, the court also summoned AJL's documents for the same assessment year.
India's stiff labour laws were one key issue that Apple CEO Tim Cook discussed with Prime Minister Modi on his recent visit.
Just before the 2008 financial crisis made headlines, Indian companies were on a global buying spree. In the fifth part of the series, Dev Chatterjee and Krishna Kant discuss how the crisis came as a black swan event for some, changing the mood from exuberance to despair.
India Inc, while welcoming the Reserve Bank of India's move to cut the key interest rate, expressed doubts on lenders' response to pass on the benefits to customers.
RBI moves will further add to corporate woes. Harsh Mariwala, the president of industry body Ficci, said, "I am afraid that with such a hawkish monetary stand, the investment environment would become even more difficult. Growth and employment targets will certainly not be achieved."
The cuts will occur across the company, throughout both business division and newsrooms.
Congress leader Rahul Gandhi on Tuesday claimed that people in his office, several party and other opposition leaders have been sent a warning by Apple of state-sponsored attackers targeting their phone, and alleged that as soon as the Adani issue is touched, probe agencies and snooping are deployed.
Some are treating the price correction as akin to a fiscal stimulus that could kick-start a new demand cycle in the economy.
Sales grow 5.3 per cent in third quarter; profit just 1.9%; margins continue to contract.
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