India Inc's investment spirit is down. A majority of leading CEOs expect domestic investments and money infusion abroad by Indian companies to grow by less than 10 per cent or to decline during 2012, in view of the current economic slowdown.
Besides the pandemic that resulted in higher interest rates, the default by Future Retail has dealt a blow to investor sentiment.
'Indian equity valuations, although not very expensive, are not cheap either.'
Riding high on the buoyant economy, an overwhelming majority of the India Inc lists innovation among the top three strategic priorities as compared to their global counterparts, a survey says.
Corporates' forex borrowings have grown at a CAGR of 15.6% since 2008.
The depreciating Indian rupee (the currency touched a record low for the second day in a row and closed at 53.22/23 to the dollar on Tuesday) has brought the foreign fund-raising cost for India Inc on a par with the domestic borrowing cost.
Corporate India at present is more indebted than all state govts put together.
Media rights for the Indian cricket team is always a prized scalp and it was Viacom18 who bagged the deal on Thursday to broadcast India's home matches for the 2023-28 cycle.
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).
From being a net earner of foreign exchange ten years ago, India Inc turned into a net spender of forex.
Corporates understand that the PMO drives all key decisions in this government.
USIBC wants Obama to raise America Inc's concerns with Manmohan Singh.
India Inc on Tuesday described Finance Minister Pranab Mukherjee as industry's Sachin Tendulkar saying the veteran leader was steering the economy "with ease of a seasoned player" in difficult times.
Ashok Soota has cited 4 challenges that India Inc is facing. He stressed on a robust risk management strategy for Indian companies. He also stated responding to changes in market environment, resolving legal and regulatory differences and encouraging leadership and accepting cultural diversity as other challenges. Highlighting the challenges faced by the India Inc, experts said globalisation is essential to pursue growth opportunities and leverage comparative advantage.
Index measuring this at six-quarter high; however, economic & political volatility a concern.
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.
In its complaint against Shah, the Congress told the EC that the home minister claimed in a speech in Chhattisgarh's Rajnandgaon on October 16 that "...Bhupesh Baghel's government, for appeasement politics and vote bank politics, lynched Chhattisgarh's son Bhuneshwar Sahoo and got him killed..."
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.
In a move that would make it the country's largest career website, Monster Inc on Tuesday announced the acquisition of Indian jobs portal jobsahead.com for about Rs 40 crore (Rs 400 million).
India Inc has couter attacked claims by US presidential candidates about the drain of jobs from US to India.
Transparency is more than welcome, but govt should not look vindictive.
Is the worst over for Indian banks? The past two years saw them ride on treasury trades as deposits soared and credit growth dipped sharply. Gross and net non-performing assets (NPAs) moved south, and the provision coverage ratio (PCR), capital buffers, and profitability indicators are back at pre-pandemic levels. So, what's the plot ahead?
The average attrition rate grew at 21 per cent in Indian firms during July-September quarter, a rise of 4 percentage points from the preceding quarter (April-June).
'We failed as a country because those who should have been there to say goodbye did not show up.'
Rising crude oil prices along with hardening interest rates in the domestic market have taken a toll on India Inc's growth outlook in the first quarter of the current fiscal.
The changes in the domestic and global economy following the outbreak of the Covid-19 pandemic are altering the corporate profit league table in India. Reliance Industries (RIL), which topped the India Inc profit chart for more than a decade, lost out to State Bank of India (SBI) in the 2023-24 (FY24) April-June quarter (first quarter, or Q1). India's biggest lender reported a consolidated net profit (adjusted for exceptional gains and losses) of Rs 66,860 crore during the trailing 12-month (TTM) ended in June this year, ahead of RIL's TTM adjusted net profit of Rs 64,758 crore in the quarter.
The 2009 Budget had raised the rate of MAT to 15 per cent. The industry wants it to be lowered to at least 10 per cent in the forthcoming Budget.
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.
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.
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'.
Reliance Industries Ltd on Monday announced an agreement to invest alongside Brookfield Infrastructure and Digital Realty in special purpose vehicles developing data centres in India. Reliance will hold a 33.33 per cent stake in each of the five Indian special purpose vehicles and become an equal partner, the company said in a statement. Digital Realty Trust, Inc is the largest provider of cloud and carrier-neutral data centre, colocation and interconnection solutions globally with 300+ data centres across 27 countries.
'We will see a lot of investments from the private sector.' 'As long as we are not impacted by some global events, I think we will be in a strong place.'
The quarterly global survey asked more than 6,000 firms in 30 countries that whether they were hiring at managerial and professional level and planned to do so in the coming quarter as well.
High interest rates have been discouraging fresh investments and dragged industrial production down for nearly two years now.
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.
A new dimension will be added to the India's growth story by Bharti Airtel's acquisition of Kuwait's Zain Telecom, besides enhancing the country's brand equity
India's harsh lockdown has left companies grappling with temporary closure, chaotic supply chains and depressed demand. Consequently, business plans have been modified.
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