The slowdown in corporate revenue growth over the last one year has begun to reflect in India Inc's capital expenditure, or capex. The country's top listed companies are going slow on fresh investment in capacity expansion, in line with a deceleration in their top line growth. The combined fixed assets of the listed companies, excluding banking, finance services and insurance (BFSI) and the government-owned oil & gas firms, were up 10.1 per cent year-on-year (Y-o-Y) during April-September 2023 (H1FY24) - the slowest in 18 months - as against 21.1 per cent Y-o-Y growth in H2FY23 (October 2022-March 2023) and 11.6 per cent growth in the April-September 2022 period (H1FY23).
Modi told the probationers to have a 'sensitive' and 'humane' approach to the job.
Shares of Tata Consultancy Services (TCS) fell by 4 per cent on worries that growth may be muted.
From croissants to Galouti kebabs and Medu vada, Indian carriers, both low-cost and full-service, are revising their in-flight menus to offer passengers a differentiated fare as competition is heating up amid the boom in air travel with the waning of Covid-19. On Monday, Air India, which was taken over by the Tata Group on January 27, unveiled its new domestic in-flight menu comprising gourmet meals, new appetizers, desserts, and local dishes. Air India's economy class passengers would now be served dishes such as Mushroom cheese omelette, Dry jeera aloo wedges, and Garlic tossed spinach and corn for breakfast, and Vegetable biryani, Malabar chicken curry, and mixed vegetable poriyal for lunch.
Tata Consultancy Services (TCS) has been ranked the third most-valued IT services brand globally, after Accenture and IBM, according to a report by Brand Finance. Four Indian IT services companies -- TCS, Infosys, HCL and Wipro -- secured spots in the top-10 global tally.
The Supreme Court on Monday sought a response from the Centre and others to a plea challenging the third extension granted to Enforcement Directorate (ED) chief Sanjay Kumar Mishra.
India on Friday made a strong pitch for a sovereign rating upgrade with Moody's and also questioned the parameters based on which the US-based agency accords ratings, sources said on Friday. Ahead of its annual review of the sovereign rating, Moody's Investors Service representatives met Indian government officials during which the officials highlighted the reforms and strong fundamentals of the Indian economy. A higher rating for India would mean the nation is less riskier, translating into lower interest rates on borrowings.
Indian industry snubbed Google Play's decision to cut by half its commission for developers when they make $1 million in annual revenue for in-app purchases, saying the US tech giant may continue its "abrasive & monopolistic abuse" as it owns the Android system. Google Play said Tuesday that beginning July 1 it would slash its 30 per cent billing fee to 15 per cent for developers globally when they make the first $1 million of their annual revenue.
Continuing with the remarkable double-digit growth, Indian IT and ITeS revenues is expected to exceed $28 billion in 2004-05 from $21.5 billion in 2003-04 with ITeS-BPO as the fastest growing segment in the wake of changing global services landscape,
Now that the economy is growing at a higher-than-expected rate, it is time to accelerate the pace of fiscal consolidation, and the Budget could be a good starting point, argues Rajesh Kumar.
Corporate India reported high double-digit growth in net profit for the fourth consecutive quarter in October-December 2023 (Q3FY24), driven by margin gains from lower prices of raw material and energy.
The mandatory use of the Indian flag on SCI's ships has been a bone of contention with prospective buyers, on account of the costs it will entail in terms of taxation and vessel registration.
While discretionary spend by global enterprises is likely to negatively impact all Indian IT firms, more revenues from products and less exposure to financial services segment are likely to lessen the impact for HCL Technologies and Tech Mahindra.
The earnings of the players who took part in the Indian Premier League's (IPL) second edition in April-May this year would be taxed at 15 per cent by the South African Revenue Service, the BCCI said.
The six service lines that Infosys is focusing on include manufacturing, retail, consumer packaged goods, logistics, lifescience, energy, communications, financial services and insurance.
Billionaire Mukesh Ambani's Reliance Industries Ltd climbed two spots to No. 53 on Forbes' latest Global 2000 list of public companies worldwide. Forbes Global 2000 ranks the largest companies in the world using four metrics: sales, profits, assets and market value, Forbes said releasing the 2022 ranking of the world's top 2,000 companies. Reliance is the top-ranked Indian firm on the list, followed by State Bank of India at No. 105, HDFC Bank at No. 153 and ICICI Bank at No. 204.
BPO revenues in India is likely to touch Rs 8500 crores according to a survey by CyberMedia's Dataquest.
Buoyed by steady recovery in demand for technology services, the Indian IT-BPO sector is estimated to grow 19 per cent in 2010-11 to $76 billion in revenues, software industry body Nasscom said.
In the last couple of months, top Indian IT services providers, including TCS, Infosys, Wipro and HCL Tech have announced setting up cyber threat management centres in the US and Europe.
Currency volatility to have negative impact of 275 bps
Asked to share details of income from all its 16 zones, especially through tatkal, ticket cancellation and bed roll charges
Global funds, according to Christopher Wood, global head of equity strategy at Jefferies, are now beginning to pay more attention to India with the market now offering 30 companies with a market capitalisation over $25 billion.
IRCTC used to charge Rs 40 per ticket for bookings in AC classes, Rs 20 per ticket in sleeper class
While the corporate sector has benefited from massive capital expenditure, leading to sky-rocketing stock prices, investors would do well to keep an eye on the macroeconomic picture and government finances, not just corporate profits, for signs of trouble, alerts Debashis Basu.
IT major Accenture's second straight cut in its revenue growth forecast for FY23 suggests there is more pain ahead for the Indian IT sector, say analysts. Accenture has lowered the top end of its FY23 growth guidance in constant currency (CC) to 9 per cent from 10 per cent earlier. The firm, which follows a September-August fiscal cycle, expects a 2-6 per cent CC growth in Q4 of FY23 (June-August 2023) versus the 6-10 per cent prior guidance.
Every bank offers a different slab of minimum balance to customers, based on which 'free services' are provided
In fact, firms like NIIT Technologies and EXL Services are already reaping the benefit of the first- mover advantage with over 20 per cent of their revenues coming from non-linear business in the quarter ended September 30. A non-linear business' focus moves away from the tendency to measure growth on the basis of headcount or the concept that the more the number of people working, the more the revenue.
"Sunita never comes in the picture but she is always there.'
The rising goods and services tax (GST) and personal income-tax collections may bolster the Narendra Modi government's ability to announce new schemes or enhance existing ones.
To check digital frauds, the government has disconnected 70 lakh mobile numbers so far involved in cybercrime or financial frauds, Financial Services Secretary Vivek Joshi said on Tuesday. Emerging from a meeting to discuss issues related to financial cyber security and increasing digital payment fraud, Joshi, who chaired the meeting, said banks have been asked to strengthen the system and processes in this regard. More such meetings would take place, he said, adding the next meeting is scheduled in January.
GST collection grew by 12 per cent in April to Rs 1.87 lakh crore, the highest monthly mop-up since the rollout of the indirect tax regime. The gross GST revenue collected in the month of April 2023 is Rs 1,87,035 crore of which CGST is Rs 38,440 crore, SGST is Rs 47,412 crore, IGST is Rs 89,158 crore (including Rs 34,972 crore collected on import of goods) and cess is Rs 12,025 crore, the finance ministry said in a statement. The previous high collection of Rs 1.68 lakh crore was in April last year.
Successful demonetisation will help in raising revenues on sustained basis as more and more people will come under the tax net, says a World Bank report.
With three key subscription drivers -- F1, IPL and HBO -- gone, can Disney+Hotstar depend only on its chart-topping originals like Criminal Justice and Rudra: Edge of Darkness to hit both scale and profitability?
'This government will be toppled in 2024.'
Women candidates have bagged the three top slots in the prestigious Civil Services examination to select Indian Administrative Service and Indian Police Service officers among others.
Indian software services firm Digital GlobalSoft is targeting revenue of over Rs 1,200 crore (Rs 12 billion) for the fiscal year to March 2005 and over Rs 2,050 crore (Rs 20.5 billion) two years later.
The Jammu and Kashmir administration has sacked three employees, including the Kashmir University public relations officer, for allegedly working with Pakistan-based militant outfits, raising finances for them and propagating their ideology, officials said on Monday.
The June quarter turned sour for MindTree as forex losses pushed the company into the red despite logging strong growth in revenues.
Adani group opened a $1.2 billion copper plant, bought a port in Odisha, raised stakes in a cement company and stitched an alliance with rival Mukesh Ambani's Reliance Industries, all in a matter of one week in signs that the apples-to-airport conglomerate has shrugged off the Hindenburg effect and is back to rapid expansion spree. In the last one week, Adani group has through regulatory filings and press statements announced expansions and investments in its mainstay ports business, diversification into metal refining, fund infusion into a two-year-old cement foray and continuing progress in the commissioning of its mega solar project.
'IT companies do not have a large presence there either in terms of market and team. So, the impact of the war will be minimal. But West Asia is an emerging economy.'
