Three senior executives have resigned from Byju's at a time when the most valuable edtech company has been trying to address challenges such as due diligence issues, legal battles with lenders, challenges in raising fresh capital, and a markdown in its valuation by investors. Prathyusha Agarwal, the chief business officer of Byju's, has quit, according to sources. They said Himanshu Bajaj, business head of Byju's tuition centres, and Mukut Deepak, business head for Class 4 to 10, have also moved on.
Local residents say until about two months ago, this board carried the name of Motorola, which once had a manufacturing unit in Sriperumbudur, 40-odd km from Chennai in Tamil Nadu. In May 2020, Luxshare Precision Industry Co, a China-headquartered AirPods and iPhone assembler, had entered into a deal with the Tamil Nadu government to take over the defunct Motorola unit.
CEOs have complained that high interest rates have blocked their investment decisions. At the same time, customers are also deferring their purchases for new consumer durables, cars, and homes.
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.
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.
Vikramaditya Singh had joined the PDP in August 2015 and was a member of the state Legislative Council.
High interest rates have been discouraging fresh investments and dragged industrial production down for nearly two years now.
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.
Even as cyber threats continue to rise in India - the second-largest global active internet user base - the country is currently facing a big skill gap in the cybersecurity domain and represents just six per cent of global cybersecurity jobs, finds a report. As of May 2023, the industry had about 40,000 open opportunities, indicating the growing demand for skilled cybersecurity professionals. However, the demand-supply gap stood at 30 per cent, projecting a major skill challenge in the industry, finds the study by tech staffing firm TeamLease.
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
Industry sources told India Abroad they wouldn't shed any tears if the legislation died in the House.
The US Chamber of Commerce has written the President complaining of India's discrimination against a wide range of US exports.
The Election Commission on Monday asked the Karnataka Bharatiya Janata Party to provide "verifiable and traceable" facts by Tuesday evening regarding its newspaper advertisement describing the Congress as "the most corrupt party in the world".
"It is a fair assumption that INC possesses the material/empirical/verifiable evidence based on which these specific/explicit 'facts' have been published, an action which can fairly be assessed to embed knowledge, motive and intent to do so by the author," the EC notice read.
This was even as the country's economy grew by 7.3%.
India Inc on Tuesday welcomed the 0.25 per cent interest rate cut by the Reserve Bank saying it would help revive confidence of industry and hoped for further cuts in the coming days.
With the exception of infra, IT & ITes - the employment outlook seems flat across sectors.
Prices of key inputs up 44% to 74%; analysts expect earnings squeeze after a quarter or two.
India Inc is seeking at least quarterly interactions with senior government representatives to establish a channel of communication and help change the opinion at the highest level.
HDFC chairman Deepak Parekh on Friday exuded confidence that the synergies between HDFC Bank and the group companies will deepen with the bank taking on the mantle of ownership of the group following the reverse merger likely to be effective from Saturday. As chairman of HDFC Ltd, Parekh in the last message to the shareholders said home loans will now be complemented with HDFC Bank's core strengths -- its sales engine, execution capabilities at scale and deep insights on consumer behaviour. The reverse merger of parent HDFC Ltd with HDFC Bank is expected to be effective from July 1.
The US corporate world wanted India to address issues relating to foreign investment in infrastructure and insurance sectors.
India Inc expects huge business opportunities to open up with the Nuclear Supplier's Group sanctioning an India specific waiver on Saturday.
That's because India does not have a serious venture capital industry with an appetite for risk, observes T N Ninan.
Indian-American business leader Ajay Banga is poised to become the next President of the World Bank after the nomination period closed and no country proposed an alternate candidate for the prestigious post. In February, President Joe Biden announced that the US would be nominating Banga to lead the World Bank because he is "well equipped" to lead the global institution at "this critical moment in history." The World Bank on Wednesday closed a month-long window for nominations for its next president, with no alternatives announced to 63-year-old Banga.
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.
Rather than a blind reproduction of the government template, a more productive way of enforcing affirmative action in the private sector could be to emulate an American model, suggests Kanika Datta.
Indian companies raised over $3.41 billion overseas in December through external commercial borrowings (ECBs) and foreign currency convertible bonds (FCCBs), the Reserve Bank of India (RBI) has said.
The move to ban Rs 500 and 1000 notes may not curb the root cause of black money.
Corporate India lags the rest of its Western and Asian peers by a wide margin when it comes to the presence of women on their boards, with just 17.3 per cent of the large companies having them on their key decision making bodies, an international report said on Tuesday. However, this is a near 6 percentage points improvement between 2015 -- when it was only 11.4 per cent -- and 2021, Swiss brokerage Credit Suisse said in the report, which covered over 33,000 executives from more than 3,000 companies across 46 countries, including over 1,440 firms across 12 Asia-Pacific markets. Female representation on boards of large Indian companies has increased by 5.9 percentage points from 11.4 per cent in 2015 to 17.3 per cent in 2021.
'We are in a sweet spot.' 'Equity, on a standalone basis, will continue to remain the asset class to stay invested in.'
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The debt-equity ratio was as high as 1.4 times the net worth as certificates of deposit and inter-corporate deposits gained popularity.
Prime Minister Narendra Modi is making his inaugural address on the 95th Annual Day of Indian Chamber of Commerce via video conferencing.
Prime Minister Narendra Modi on Wednesday said that the country's economic growth is picking up pace again and the domestic industry needs to enhance its risk-taking appetite. Noting the recent reforms taken by the government, the Prime Minister said that bringing reforms is a matter of conviction for his government, which is ready to take all risks in the national interest. "We have taken bold decisions. Reforms continued even during pandemic. "The government is doing reforms not out of compulsion but out of conviction," he said while addressing the CII's annual meeting.
The sharp rally in the markets thus far in fiscal 2023-24 (FY24) has left analysts struggling to find investment-worthy themes. The S&P BSE Sensex has surged nearly 7 per cent thus far in FY24 and hit a fresh 52-week high of 63,601.71 levels on June 22, mostly led by foreign institutional (FII) flows. "The Indian market has seen a broad rally in the past few months but headline indices have seen more modest performance. "We are not very clear about the reasons for the rally and the divergent performance and struggle to find ideas in the consumption, investment and outsourcing sectors after the sharp run-up in several of our favored sectors and stocks in the past two months," wrote Sanjeev Prasad, co-head, Kotak Institutional Equities, in a recent co-authored note with Anindya Bhowmik and Sunita Baldawa.
India Inc on Monday expressed optimism that the Congress-led government at the Centre would carry forward the reforms, and the stock market crash was a result of "complete nervousness" among investors, which would recede after the Common Minimum Prog
RBI has cut the rates thrice so far in 2015 by 25 bps each.
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