Reliance Industries, which sold stake worth $21.7 billion in Jio Platforms, kept the league tables moving in spite of the pandemic.
Amid current geopolitical challenges and a slowdown in global growth, veteran emerging market investor Mark Mobius called India a safe haven for investors, backed by a stable government. The renowned investor, who is excited about the opportunities available in India, said the country is now the second largest in the portfolio of Mobius Capital Partners after Taiwan. Calling India a "land of opportunities and innovation", he said that his optimism about India is driven by the stable government and young demographic, with an average age of 27 years.
The banking regulator was uncomfortable with the runaway pace at which consumer credit was growing.
Retail giant Walmart on Thursday said it is inviting select Indian sellers to join Walmart marketplace, a curated sellers community that serves more than 120 million US shoppers each month. India is already one of the top sourcing markets for Walmart and the retail major has set an ambitious goal of exporting $10 billion from India each year by 2027. "This initiative expands on over 20 years of Walmart's engagement with Indian exporters," said a statement from Walmart. Walmart is seeking new sellers from India as part of a global drive to attract international sellers and expand the marketplace's product assortment.
A vast majority of the business leaders believe that the Production Linked Incentive (PLI) schemes have been beneficial and expect an extension to other sectors in the coming years, a Deloitte Survey said on Friday. An overwhelming number of survey respondents hope the budget will fuel growth across industries by building strong domestic demand and focussing on capital expenditure and believe that it would define the 'Amrit Kaal'. "Critical to this growth will be the pace of capital expenditure, infrastructure development, and the need to boost infrastructure financing through private partnership. 60 per cent of respondents suggested raising funds through Indian Government Bonds," the survey said.
Global Pharma Healthcare is recalling entire lots of eye drop linked to vision loss in the US, according to the US Food and Drug Administration. The Chennai-based company is recalling all lots of artificial tears lubricant eye drops distributed by EzriCare, LLC and Delsam Pharma to the consumer level due to possible contamination, the US health regulator said in a statement. "The Centres for Disease Control and Prevention (CDC) alerted FDA to an investigation of a multi-state cluster of Verona Integron-mediated Metallo--lactamase (VIM)- and Guiana-Extended Spectrum--Lactamase (GES)- producing carbapenem-resistant Pseudomonas aeruginosa (VIM-GES-CRPA) infections possibly associated with the use of the artificial tears manufactured by Global Pharma Healthcare," USFDA said.
Bankers said the outlook of M&As in India in 2024, especially in the second half after the Lok Sabha election, seems relatively better.
The general elections in April/May 2024 are expected to add volatility to the Indian markets, keeping investors on their toes.
As Covid-19 cases recede, India Inc is once again tweaking work rules. Big tech companies such as TCS, Wipro and Infosys have either begun or are in the process of calling employees back to office in a staggered manner. A survey by Aon, a global professional services firm, has found that 60 per cent of tech firms now expect every second employee to come to office. More than half of the employees working in engineering and manufacturing firms are also being asked to return to work.
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.
Bharti Airtel Chairman Sunil Bharti Mittal said India has lost one of the finest political leaders and a legal luminary.
'Most of the bot attacks have originated from outside India.' 'Our firewalls are resilient and withstood the attacks.'
Finance Minister Nirmala Sitharaman on Tuesday unveiled a Rs 39.45 lakh crore Budget with a view to fire up the key engines of the economy to sustain a world-beating recovery from the pandemic. This was Sitharaman's fourth Budget. While the taxpayers were left in the lurch, once again, was she able to cheer Corporate India?
The Virat Kohli-Anil Kumble fiasco proves that two power centres don't work whether it's Team India or Indian companies, says Shyamal Majumdar.
During the hearing, petitioner Upadhyay submitted that while individuals cannot seek vote in the name of religion or caste, political parties can be formed using religious connotations which cannot be permitted.
By winning the New Hampshire primary after the Iowa Caucus, Trump has made the strongest ever case to be the Republican party's nominee for the November presidential elections.
The message is clear: The 60-year-old wise uncles need to handhold the 40-year-old entrepreneurs when, obsessed with ambition and greed for growth, they become a victim of hubris, points out Tamal Bandyopadhyay.
While margins contracted by 30 basis points on y-o-y basis, they fell a sharper 120 basis points on a sequential basis to 16.8 per cent. Profitability was impacted adversely due to subdued demand, tepid realisations in commodity sectors, and negative operating leverage.
Not surprisingly, equity investors are bidding-up stock prices across sectors and the broader market is now more valuable than pre-Covid levels.
Commerce and Industry Minister Piyush Goyal has visited the manufacturing facility of US-based electric vehicle major Tesla at Fremont, California and said that the company would be doubling its auto components imports from India. The minister is in the US on a four-day visit. The world's largest electric car producer Tesla Inc's chief Elon Musk met Prime Minister Narendra Modi in June in New York and after the meeting Musk had said that he planned to visit India in 2024.
Stocks of Indian companies with exposure to Europe fell on Tuesday amid concerns about the impact on their sales in case the Russia-Ukraine crisis worsens and the US and its allies impose economic sanctions on Russia. While top conglomerates, including Reliance Industries, the Tata group, and Aditya Birla Group, said they did not have any significant exposure to Russia, executives of some of the oil and gas, pharmaceutical, and tea companies said they were monitoring the situation closely as they earned substantial income from the region. Russian President Vladimir Putin on Monday ordered troops into two breakaway regions of eastern Ukraine after announcing that Russia would recognise their independence.
India Inc on Tuesday expressed deep reservations over the supplier liability provision -- the contentious Clause 17(b) -- in the Civil Liability for Nuclear Damages Bill, 2010, saying it would seriously hinder nuclear commerce.
India Inc has started lobbying with the government to compensate them by giving tax incentives on the funds spent on CSR.
72 per cent of the revenue of Indian firms (India Inc) is derived from the domestic / home market - the sixth highest in percentage terms in the emerging market (EM) and the Asian region, said a recent report by Morgan Stanley. The balance, according to the report titled 'Global Exposure Guide 2021' co-authored by analysts led by Jonathan F Garner, their chief Asia and emerging market strategist, is split between the developed markets (DMs) and other EMs. The report is based on an analysis of 3,300 companies globally that have revenue exposure in 17 different regions.
Interrupting a two-month streak of decline, outward foreign direct investment (FDI) rose sequentially to $1.85 billion in July over $1.07 billion in June, an increase of 73 per cent. However, it was lower than the $2.18 billion in July last year, according to the Reserve Bank of India data. Outbound FDI, expressed as financial commitment, has three components - equity, loans, and guarantees.
'Kerala isn't as dependent on agriculture like Bihar or Odisha or even other southern states.' 'Economic losses would not be too intense, unlike other states.' 'The floods could, at best, impact India Inc's earnings for a quarter or two.'
Microsoft Chairman and CEO Satya Nadella along with Alphabet Inc and its subsidiary Google CEO Sundararajan Pichai are also among those from trade and industry who have been awarded the Padma Bhushan for their distinguished services.
74 of these fatalities were reported by 8 companies: Coal India (21), L&T (14), Vedanta (13, of which Hindustan Zinc reported 7), Tata Steel (7), Power Grid Corporation of India (7), JSW Steel (6), and ONGC (6).
The country's largest bourse National Stock Exchange (NSE) has put the NSE Prime initiative in cold storage following lukewarm response from India Inc, said people aware of the development. Inspired by Brazil's Novo Mercado, NSE had announced a separate platform which any listed company could be part of by voluntarily adopting a stricter corporate governance code. Launched in December 2021, NSE Prime was to formally take off within a year after empanelling companies.
Tesla Inc, the world's largest electric car producer, is looking to make a significant investment in India, said its chief Elon Musk, who saw India as holding more promise than any other large country around the globe. Musk, after meeting Prime Minister Narendra Modi, said he plans to visit India in 2024. "I am confident that Tesla will be in India and we will do so as soon as humanly possible," Musk told reporters after the meeting.
Making strong inroads in the global acquisition arena, Indian companies have won many big ticket deals and acquisitions.
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.
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.
RBI is expecting the rupee to stay close to Rs 75 to a dollar, as COVID-19 forces foreign funds to withdraw from emerging markets.
'We failed as a country because those who should have been there to say goodbye did not show up.'
The rumour verification process would now be triggered by changes in price or 'material price movements', as the paper defines it. What this means is that companies would need to verify rumours only if the share price moves significantly.
CERT-In has started its probe in the Apple threat notification issue raised by opposition MPs, and a notice has been sent to the company, IT Secretary S Krishnan said on Thursday.
India's traditional companies are now moving full scale into the renewable and alternative energy space that had been dominated by smaller players over the past decade. Companies such as government-owned NTPC and the Adani and the Tata groups restructured their businesses well in time to become major players in the green space. At the same time, other conventional companies, such as Larsen & Toubro and Reliance Industries Ltd (RIL), which have a presence both in the energy sector as well as myriad other activities - construction, technology and retailing - are tying up with new-age companies to hitch a ride to a greener path.
Trinamool Congress MP Mahua Moitra on Wednesday wrote to Lok Sabha Speaker Om Birla flagging alerts received by several opposition leaders about 'state-sponsored' attacks on their iPhones, and urged him to provide them protection to continue doing their duties.
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