India Inc on Friday said it is looking forward to a repo rate cut in future as cost of funds has to come down in coming times, and expects continuation of accommodative policy stance by the Reserve Bank of India (RBI). The RBI decided to leave the benchmark interest rate unchanged at 4 per cent but maintained an accommodative stance, as the economy faces the brunt of the second COVID-19 wave. Sanjay Aggarwal, president of PHD Chamber of Commerce and Industry, said the RBI has maintained an accommodative stance as long as necessary to revive and sustain growth on a durable basis and to mitigate impact of COVID-19, apart from an aim to keep inflation within the target.
Capital expenditure by Indian companies is likely to see an uptick in the upcoming quarters as capacity utilisation has surpassed the critical threshold of 75 per cent, and numerous companies have deleveraged their balance sheets, according to analysts. The first quarter of the current financial year has shown improved profitability, driven by a decrease in input prices. This, according to analysts at Care Ratings, should stimulate a revival in the private capex cycle.
India Inc's share of the global public and additional offerings was unchanged at 2.30 per cent in 2006 with 125 Indian firms mopping up $12.97 billion.
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.
Enthused by Prime Minister Manmohan Singh's proposed visit to world's premier New York Stock Exchange on Wednesday, analysts say it will have a 'positive impact' and revive India Inc's dream for overseas listing.
The Indian economy continues to sustain the momentum achieved in the first half of 2023-24 and expectations of a fresh round of capex by the corporate sector is likely to fuel the next leg of growth, the Reserve Bank Bulletin said on Tuesday. "The likelihood of the global economy exhibiting stronger than expected growth in 2024 has brightened in recent months, with risks broadly balanced," said an article on 'State of the Economy' published in the bulletin.
No business delegation has been cleared yet for Prime Minister Narendra Modi 's visit to America from Friday.
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.
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's move to set up a regulator for the coal sector would help bring in transparency, encourage exploration and enhance quality of the dry fuel, India Inc said on Friday.
Indian companies are planning to increase investments in the new year to expand capacity, acquire companies, and go on a hiring spree, a survey of top executives showed. They, however, cited rising costs, weak consumer demand, and increasing interest rates as major concerns for 2023 which may impact their plans.
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.
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
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.
The diplomatic exercise aimed at presenting India's stance against Pakistan on terror comes in the wake of Operation Sindoor -- the Indian offensive against terror camps in Pakistan and Pakistan-occupied Kashmir following the April 22 terror attack in Pahalgam in which 26 people, mostly tourists, were killed.
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.
India Inc has too much on its plate to ensure double digit growth in FY16.
Hailing Prime Minister Narendra Modi's Make in India campaign and the emphasis on ease of doing business, India Inc today said the initiative mirrors the country's ambition to sprint ahead in the global manufacturing race, thereby creating jobs and boosting economic growth.
In peace and at war, firms remain tethered to promoter families in a uniquely Indian way.
India Inc is expected to post 35-45 per cent rise in net profit in the fourth quarter ended March 31.
Across the country, companies have stepped up their act to contain the crisis. IT and other new economy firms seem to have taken a lead.
Indian pharmaceutical companies may have units abroad as part of "distributed manufacturing" across various locations, according to industry veterans. This may come about over the next five to 10 years.
A strong performance by sectors including banking raised the profits of Indian companies by 28 per cent in the three months ended March 2022. The rate of growth is, however, lower than the 30 per cent seen in December. Growth in net sales was also lower than what was seen in the December quarter for the sample under consideration.
India Inc has mobilised a record over Rs 32,000 crore (Rs 320 billion) through issue of shares on rights basis in fiscal 2007-08, driven by the mega issues from State Bank of India and Tata Steel, a latest report says. Corporate India has raised Rs 32,518 crore (Rs 325.18 billion) through right issue in the last fiscal, a jump of over eight-fold as compared to Rs 3,703 crore (Rs 37.03 billion) that was raised in FY 2006-07.
India needs to be technologically and militarily prepared to defend itself from both Pakistan and China, alerts Ramesh Menon.
'While investors believe in India's long-term growth story and resilience amid global uncertainty, they see near-term risks around the direction of a global trade war.'
India Inc is likely to post a whoping 63 per cent growth in net profit in the second quarter, thanks to four oil marketing companies which are expected to post a combined net profit of Rs 2,730 crore (Rs 27.30 billion) in the quarter ended September.
India's harsh lockdown has left companies grappling with temporary closure, chaotic supply chains and depressed demand. Consequently, business plans have been modified.
Corporate India's deal activity in the period between January till March this year was better than last year.
External commercial borrowing and short-term credit from abroad, which met more than 20 per cent of India Inc's credit needs in the 2007-08 fiscal, have contributed only 8.2 per cent of the financing needs. However, bank credit has increased by nearly Rs 38,000 crore (Rs 380 billion) in the current fiscal, meeting 61 per cent of fund requirement for companies.
The slowdown in capital expansion is clearly seen in the current financial year. Large sectors such as cement, metal, oil and gas, power and telecom have provided negligible funds in the first quarter for their capex plans.
Stresses on need to boost investor sentiment through stable regulation.
A statement issued by the parliamentary affairs ministry earlier on Saturday said the all-party delegations will project India's national consensus and resolute approach to combating terrorism in all forms and manifestations.
The Congress party announced its intention to challenge the constitutionality of the recently passed Wakf (Amendment) Bill, 2024 in the Supreme Court. AICC general secretary Jairam Ramesh stated that the party will "very soon" file a petition, citing concerns about the bill's impact on constitutional principles. Ramesh highlighted the Congress's ongoing legal challenges against other legislation, including the Citizenship Amendment Act (CAA), amendments to the Right to Information (RTI) Act, and changes to the Conduct of Election Rules. He emphasized the party's commitment to defending the Constitution's principles, provisions, and practices.
16 national and regional industry bodies and sectoral business lobbies video-conferenced with Commerce and Industry Minister Piyush Goyal on Saturday and raised key concerns facing Indian industry in the wake of the 21-day lockdown over coronavirus.
India Inc on Friday said Prime Minister Manmohan Singh's assertion that the government will not impose capital controls, although reassuring to investors, must be supplemented with tough reform measures.
Business leaders, among others, ask govt to let go of fiscal target, seek stimulus, and direct cash transfer.
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