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.
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.
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.
The inclusion of a "no-contest" clause in Ratan Tata's will has caught the attention of India Inc, prompting a wave of interest among promoters of listed companies and business families. Legal advisors and estate planners are seeing a noticeable uptick in queries, as wealthy individuals look for ways to shield their legacies from courtroom battles.
Business leaders, among others, ask govt to let go of fiscal target, seek stimulus, and direct cash transfer.
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.
Tesla's official entry into the Indian market is expected in the final quarter of the current financial year.
Smartphones, for the first time, emerged as India's largest individual export commodity by value over 10 months of any financial year, during the April-January period of FY25, based on harmonised system (HS) codes. During the period under review, smartphone exports from India reached $18.31 billion, according to data from the Department of Commerce, surpassing automotive diesel fuel exports, which stood at $16.04 billion.
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Net profit grew 25.4% in Q4 but revenue growth, lower at 8.5%, suggests lack of volume expansion.
Wishlist for new PM includes growth boosters, reining in inflation, faster project clearance and reversal of Land Acquisition Act
Union Minister of Commerce and Textiles Piyush Goyal has stirred up a hornet's nest by taking on India Inc, specifically the Tata group, which is among the companies that lobbied against the Modi government's pro-consumer draft e-commerce policies. While Goyal's comments, made at a Confederation of Indian Industry (CII) event, were streamed live on YouTube, the industry lobbying body later edited the video and subsequently withdrew the entire speech. Goyal had said the Tata group and other Indian companies often lobbied for their interest, while ignoring national interest.
Passenger fares and freight rates were left untouched
India Inc on Thursday pitched for continuation of reforms while ensuring tax and policy stability in the forthcoming Budget to prop up the economy hit hard by the COVID-19 pandemic. In the virtual pre-Budget consultation held with Finance Minister Nirmala Sitharaman, industry chambers said that government measures will help firmly entrench the nascent signs of recovery being currently seen in private investment. Capital expenditure by the government through enhanced infrastructure spending should in the meantime continue to support growth, CII president TV Narendran said.
Assocham estimates offices are facing staff crunches of 15 to 25 per cent with the various strains of fever.
Though the Indian aviation sector is finding it tough to glide smoothly due to the rise in operating cost, Indian Inc seems to be flying high with new aircraft buys
Early-bird results for the January-March 2025 quarter (Q4FY25) suggest a slowdown in earning growth for India Inc, despite a benign cost environment that has led to an improvement in margins. The combined net profit (adjusted for exceptional gains and losses) of 175 early-reporting companies rose by 3.8 per cent year-on-year (Y-o-Y) in Q4FY25, marking the slowest growth in 17 quarters.
Relax fiscal consolidation, boost public capex and reduce cost of finance, industry tells Centre
India Inc seems to be in top gear when it comes to raising funds from the domestic and overseas markets with plans to accumulate over 10 billion dollars in the month of June alone.
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.
One of India Inc's top demands is the abolishing of the MAT.
'This solid verdict would further strengthen his resolve to drive forward the economic agenda to ensure that the fruits of the economic momentum continue to reach the poor, so visible during the last five years.'
In his first interaction with business leaders after becoming Congress vice president, Rahul Gandhi urged India Inc to work together to build this brave, empowered new India. Here's the text of his speech
Some big ones hoard cash unduly and others borrow to keep up payments to shareholders
Industry leaders, including Mahindra Group chairman Anand Mahindra, RPG Enterprises chairman Harsh Goenka and Biocon Ltd chairperson Kiran Mazumdar-Shaw on Monday came out in support of the Agnipath scheme, saying it has large potential for employment of youth in the corporate sector. Mahindra also expressed dismay over the violence against the scheme while asserting that the farm equipment to aerospace conglomerate welcomes the opportunity to recruit trained, capable and young people under the programme. The Agnipath scheme, announced on June 14, provides for the recruitment of youths between the age bracket of 17-and-half years to 21 for only four years with a provision to retain 25 per cent of them for 15 more years.
No capital came in through the approval route, while the rest of $9,86,681 was by way of issuance of rupee denominated bonds.
Average global growth prospects for the next 12 months and the next three years are 35 per cent and 49 per cent, respectively.
Decisions taken during the meeting of Prime Minister Narendra Modi and US President Barack Obama will take the bilateral strategic ties to an "altogether new high", India Inc said.
Foreign banks and private credit funds are queuing up to fund acquisitions by Indian companies who are buying out their local rivals. The Adani Group, Torrent Group, and the Hindujas have approached several foreign banks and private equity (PE) firms to fund their acquisitions. Global investors have about $2 trillion of funds to invest, and about $100 to $150 billion is set aside for India, according to an estimate by JP Morgan.
Companies put in strict disclosure, job switch clauses in HR policies.
India Inc on Tuesday expressed disappointment over the Reserve Bank increasing the key rate by 0.25 per cent and hoped that banks would refrain from hiking lending rates as such a move will scuttle economic recovery.
Households may be feeling the pinch of higher inflation but corporate India is enjoying record high margins and profits. The combined quarterly net profit of listed companies scaled a new high in the April-June 2023 quarter owing to a sharp rise in operating and net profit. The expansion in margins more than compensated for the slowdown in revenue growth, which slipped into single digits in Q1FY24 after a gap of nine quarters.
Welcoming the launch of the Bharatiya Mahila Bank, India Inc on Wednesday said the initiative will propel women's financial inclusion, encourage female entrepreneurs and empower women in the country.
Yes Bank said it is set to unveil a branch to be operated exclusively by women.
A group of current and retired faculty members at the Indian Institute of Management-Bangalore (IIM-B) has asked leaders of corporate India to "de-fund" the spread of misinformation and hate speech through news channels and social media.
Ahead of the Budget, India Inc has asked Centre to up divestment target to at least Rs 25,000 crore (Rs 250 billion).
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