In 2020-21, Indian firms offered to buy back shares worth Rs 39,295 crore, or 97% more than Rs 19,972 cr proposed in the previous financial year.
Capex plans for the next six months imply a 20 per cent increase in calendar 2010.
India's corporate sector is likely to report a slowdown in revenue growth and earnings for the July-September 2023 period (Q2FY24), according to earnings estimates by brokerages, after the country's top listed companies posted higher than expected profits for the first quarter. The combined net profit of Nifty50 companies, based on brokerage estimates, is expected to have grown by 19.6 per cent year-on-year (Y-o-Y) to Rs 1.75 trillion in Q2FY24 - a sharp deceleration from 37.6 per cent Y-o-Y growth in the combined earnings of index companies in the April-June 2023 period. According to estimates, the combined earnings in the second quarter would be down 8.8 per cent on a quarter-on-quarter (Q-o-Q) basis and the lowest in the past three quarters.
India Inc's initiative to adopt Industrial Training Institutes (ITIs) across the country is facing problems because of low level of cooperation on the field as well as red-tapism, industry lobby groups have claimed.
India Inc on Friday expressed the hope that the robust 17.6-per cent industrial growth in April will help the economy grow by 8.5 per cent in this fiscal, even though factory output growth may moderate after June.
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.
The issue regarding remuneration of company CEOs will be debated by the parliamentary standing committee.
The first such interaction would be in Mumbai on Monday.
India Inc has raised a whopping Rs 237.3 billion (Rs 23,730 crore) through initial share sales in April-January, which is nearly 10 times than that mobilised during the corresponding period last fiscal.
The Ficci Survey for the second quarter of 2008-09, which was carried out during November and December 2008, revealed 52 per cent of companies feel that the overall economic conditions would weaken further in the coming six months. Further nearly 90 per cent of the 412 companies surveyed in the report feel that the economic situation has deteriorated over the last six months.
Expressing concern over high debt exposure of many companies in India, global rating agency Standard & Poor's on Tuesday warned India Inc that high oil prices can trigger inflationary pressures, trim corporate profits and slow down industrial activit
The private security industry expects to grow manifold in the next five years, with India Inc enhancing the protective measures after the Mumbai attacks.
India Inc's deal making saw a sharp decline in 2009 with just $24 billion worth of mergers and acquisitions and private equity deals taking place, but 2010 is likely to be a year of "opportunity," according to a report by a consultancy firm.
A total of 635 companies have declared their third-quarter results and reported 22 per cent rise in revenue and 47.3 per cent growth in net profit on an average.
Even as India Inc talks of increasing corporate governance norms after the Satyam scam, a study by global consultancy firm Ernst & Young has said that more than half of the companies surveyed do not take into account risk of frauds in their annual audit plans.
India Inc is set to post an 18-20 per cent revenue growth for July-September as compared to the year-ago period, domestic rating agency Crisil said on Thursday ahead of the filing of quarterly earnings by companies. The handsome growth in the topline will be driven by both higher volumes and higher commodity prices, the rating agency said. However, the rising input prices may have capped operating profit margin expansion for companies when compared to the preceding quarter, the agency said.
Major Indian automobile companies like Tata Motors, Bajaj Auto and Mahindra & Mahindra seem to have put up a robust performance in Q3 FY 10, paying advance tax of Rs 100 crore (Rs 1 billion), Rs 320 crore (Rs 3.2 billion) and Rs 195 crore (Rs 1.95 billion), respectively.
An unstable government is the worst thing that can happen to the Indian economy grappling with the global downturn, say business leaders.
Leading political rallies or taking charge in boardrooms, the next-gen woman is taking it all in her stride.
Net profit of FMCG, IT and pharma firms was up 33 per cent in the third quarter, accounting for nearly half of India Inc's profits ex-financials and oil.
The manufacturing sector (excluding petroleum sector) would report a 24.3 per cent PAT growth mainly on account of low raw material prices and soft interest rates, CMIE said, adding PAT of the financial and non-financial services would rise by 32.2 per cent and 20.4 per cent, respectively.
RBI has cut the rates thrice so far in 2015 by 25 bps each.
Corporate India has raised over 8 billion dollars through syndicated loans by way of 33 deals in the first half of this year led by Reliance Industries, which alone mopped up a whopping 2.7 billion dollars.
M&As are back on the radar for Indian companies, but with two vital changes. First, the average size of the deals are much smaller compared to the earlier years; and second, overseas acquisitions have taken a backseat.
Sonia Gandhi's publicly-aired concern over the acquisition of fertile farmland for special economic zones has evoked a prompt response from corporate India, which does not want to delay showing its farmer-friendly face.
The net profit of 82 firms up 20.2%, but topline growth slows to 14.7% on muted show by manufacturing firms.
A fundraising boom in the domestic market and tightening of the regulatory framework for overseas issues are responsible for this trend.
One of the Rajus, chairman of non-banking finance company Nagarjuna Finance, K S Raju, was arrested for defaulting on repayments of public deposits worth around Rs 100 crore (Rs 1 billion).
Nine of 10 bankers who attended the meeting admitted their sanctioned loan pipeline was shrinking fast due to tepid demand.
Corporate earnings got a big boost from the fall in commodity and energy prices in July-September 2023 (Q2FY24) despite a slowdown in revenue growth during the quarter. The combined net profits of 3,123 firms that have declared their results so far were up 38 per cent year-on-year (Y-o-Y) to Rs 3.07 trillion in Q2FY24, up from Rs 2.24 trillion a year ago. Earnings were, however, down 3.5 per cent on a sequential basis from Rs 3.18 trillion in April-June (Q1) FY24.
Not surprisingly, equity investors are bidding-up stock prices across sectors and the broader market is now more valuable than pre-Covid levels.
Finance Minister P Chidambaram announced the Union Budget 2013-14 in Parliament on Thursday.
Industry believes economy could grow well but worries about hampering by lack of infrastructure.
The immediate concern for all companies is to prepare themselves - and their vendors and suppliers - for the new GST return filing mechanism, being test piloted from April 1.
The growing caution among hospitals is being driven by a rise in double-extortion ransomware attacks, AI-enabled phishing, deepfake fraud, and vulnerabilities in connected medical devices.
The study revealed that 83 per cent of Indian business leaders believe to have fair to good understanding on the issue of climate change. However, just under half of these respondents stated they have a clear strategy in place to respond to these issues. There is a significant gap between good intentions and action as only 21 per cent have measured their current carbon footprint, which is one of the first steps in defining a strategy to deal with the issue, the study noted.
In the first half of 2008, Indian companies accounted for a total of 34 US-bound acquisitions worth over $5.1 billion, US-based Virtus Global Partners said in its latest report on US bound acquisition by Indian companies. However, the volume of deals dropped 15 per cent to 34, from 40 in the H1 of 2007. Over 70 per cent of the transactions involved acquisition of 100 per cent stock for cash consideration.
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