As India's biggest Unified Payments Interface (UPI) app PhonePe prepares to list, the updated draft red herring prospectus (DRHP) shows the impact of regulations on the business, and concentration of payments-linked revenue even as UPI lacks MDR (merchant discount rate).
The industry urged the central bank to consider a rate even before the next monetary policy review on July 30.
The decision by the Reserve Bank of India to introduce a unified regulatory framework on connected lending for all the regulated entities (RE) is expected to reduce the influence of business conglomerates in the Indian lending space, said bankers and experts. "Connected lending pertains to lending to related parties within the same business group. "While the RBI might appear more agreeable to allowing business conglomerates to own banking licenses, it deems it crucial to bolster regulations that would prevent conglomerate-owned banks from gaming the system," said Shivaji Thapliyal, head of research and lead analyst, YES Securities.
The Crisil study covered 600 companies excluding financial services and oil companies, representing 71 per cent of the overall market capitalisation of India Inc.
Embedded redemption premium and 36 per cent depreciation in five years will realise forex losses worth Rs 67.2 billion.
In fact, the companies have already raised $8.9 billion even before this year-end as against $9 billion raised last year, says Dealogic.
Industry bodies called for implementation of measures announced in the Budget to arrest inflation, saying these would pave the way for a stable inflation regime.
Narendra Modi has earned a ranking of eight out of 10 in an India Inc survey.
A strong performance by sectors including banking raised the profits of Indian companies by 28 per cent in the three months ended March 2022. The rate of growth is, however, lower than the 30 per cent seen in December. Growth in net sales was also lower than what was seen in the December quarter for the sample under consideration.
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.
Corporate earnings got a big boost from the fall in commodity and energy prices in July-September 2023 (Q2FY24) despite a slowdown in revenue growth during the quarter. The combined net profits of 3,123 firms that have declared their results so far were up 38 per cent year-on-year (Y-o-Y) to Rs 3.07 trillion in Q2FY24, up from Rs 2.24 trillion a year ago. Earnings were, however, down 3.5 per cent on a sequential basis from Rs 3.18 trillion in April-June (Q1) FY24.
Key events that rocked India Inc in 2014 and one of them is Vishal Sikka taking over reins at Infosys.
India seeks greater market access for its products including textiles, pharmaceuticals and bovine meat.
The first spending item on the chopping block is capital expenditure, followed by operating costs and overheads, including sales and marketing expenses.
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.
The court is hearing appeals against a CCI order imposing a penalty on Meta and WhatsApp.
Suresh Prabhu has announced a slew of measures to improve servcies in trains and railway stations
Capital expenditure by Indian companies is likely to see an uptick in the upcoming quarters as capacity utilisation has surpassed the critical threshold of 75 per cent, and numerous companies have deleveraged their balance sheets, according to analysts. The first quarter of the current financial year has shown improved profitability, driven by a decrease in input prices. This, according to analysts at Care Ratings, should stimulate a revival in the private capex cycle.
Fraud is a big concern among many board members.
Polling for the 288-seat Assembly is being held in a single-phase on Wednesday.
Hailing the announcement of Raghuram G Rajan as the new RBI Governor, India Inc on Tuesday said the appointment of the former IMF Chief Economist will help bring the economy back on growth path.
Welcoming the UK government's move to scrap the controversial 3,000-pound visa bond scheme, India Inc on Tuesday said this would further help in boosting trade and investments between the countries.
The rupee has depreciated by 0.95 per cent in two days.
Firms generated free cash flows in 2013-14, for the first time since the 2008 Lehman crisis
More than 80 executives participated in the survey that was done from April to June this year.
India Inc raised Rs 47,720 crore (Rs 477.20 billion) through various debt instruments during the first six months of the fiscal 2004-05 even as central public sector undertakings lagged behind the private sector and state-level undertakings in the re
MakeMyTrip, RBL Bank, Inox wind and IRCTC are among the firms that have made it to the Fortune Next 500 list of Indian companies.
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.
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The Companies Bill asked for promoting gender diversity by specifying induction of a minimum number of women directors
The Congress party in India has expressed "grave concern" over the US action in Venezuela, stating that settled principles of international law cannot be violated unilaterally. India has also voiced "deep concern" and called for a peaceful resolution through dialogue.
There's no change in Apple Inc's India strategy, said a top government source. 'It can only be enhanced'.
In a culture where children take up the profession of their father, her becoming a politician was seen as natural and acceptable.
The investments were a mix of issuance of guarantees ($2.53 billion), loan ($257.60 million) and of equity ($232.59 million).
India Inc raised $2.78 billion from overseas markets in October this year, up 44 per cent from a year ago, according to the Reserve Bank data released on Friday.
India and China are the only two countries who have reported a slight dip in pay hike.
The post-Covid pandemic boom in corporate revenues appeared to have faded away in 2023-24. Yet, companies have reported a sharp recovery in their profits in FY24, driven by high margins. Their combined net sales, including gross interest income for lenders, rose by a modest 4.8 per cent year-on-year (Y-o-Y) in FY24.
Reliance Industries chairman Mukesh Ambani might have made news for purchasing the most expensive beach-side villa in Dubai recently, but he is not the only Indian eyeing the city for investment. Since Dubai allowed foreign investors full ownership in specific sectors in June 2021, a horde of Indian companies have moved or expanded into the desert city. The list even includes a kindergarten, an elementary and middle school, and a hotel that has sought 100 per cent ownership.
On the profitability front, Crisil foresees a 0.5 per cent basis points y-o-y jump in EBITDA (operating profit) margins in Q2 FY15.
In a move towards gender inclusion, Tamil Nadu has partnered Godrej Consumer Products (GCPL) to offer a 5 per cent job reservation for LGBTQAI+ and people with disabilities at GCPL's upcoming fast-moving consumer goods manufacturing unit in Thiruporur in Chengalpattu district. According to industry experts and activists, while companies acknowledge transgender communities, this is the first time the entire spectrum of gender minorities, including lesbian, gay, bisexual, transgender, queer/questioning (one's sexual or gender identity), asexual and intersex, is receiving such a notable share of job participation in the private sector while signing memoranda of understanding with states.
As the Modi government enters the fourth year of its tenure, it is looking more confident, shedding its earlier inhibitions about offering sops or new opportunities to big business, says A K Bhattacharya.
