Crisil Ratings on Wednesday said a broad-based recovery is on for India Inc currently, and upgraded its credit quality outlook to 'positive' from the earlier 'cautiously optimistic'. The rating agency said the credit ratio, which illustrates the number of upgrades to downgrades, rose to over 2.5 times in the first four months of the fiscal, as compared to 1.33 times in the second half of FY21, it said in a statement. The rating agency said it has also done a study of 43 sectors, excluding the financial sector, accounting for 75 per cent of the overall Rs 36 lakh crore in outstanding debt, which shows that the current recovery is broad-based.
Exit polls predict a BJP victory in Assam and an edge in West Bengal, a DMK government in Tamil Nadu, and a Congress-led UDF comeback in Kerala.
Prime Minister Narendra Modi is addressing the India Inc on ways to deal with the spread of coronavirus and also boost economic activity.
United States Secretary of State Hillary Clinton on Saturday had a breakfast meeting with top honchos of India Inc at the iconic, sea-facing Taj Hotel in Mumbai. Amongst those from India Inc who were present at the meeting included Ratan Tata, chairman of Tata Group and Reliance Industries' Mukesh Ambani. Others present were the chiefs of India's two largest banks, O P Bhatt of State Bank and Chanda Kochhar of ICICI Bank, Swati Piramal and Sudha Murthy.
Making strong inroads in the global acquisition arena, Indian companies have won many big ticket deals and acquisitions.
The environment looks conducive for growth for corporate India and thus we believe that equities would continue to deliver decent returns over the long term. \n\n
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).
Welcoming the government's move to name new members on Satyam's board, industry on Sunday exuded confidence that the new directors would help shape the future of the scam-hit company and restore the global investors' confidence in India Inc.
In absolute terms, capex spending has risen by Rs 228,000 crore (Rs 2,280 billion), despite declining profits and a 37 per cent decline in fund flow from financial markets in 2008-09. The capital-intensive sectors of India Inc do not find the current environment a deterrent to push ongoing expansion and so they continue with capex plans. The study looks at 323 listed companies whose capex spending data for 2008-09 is available.
Having rung in the New Year with two major acquisitions in the metals space, India Inc is set to execute more such deals, albeit in automotive, pharma and IT sectors, with companies in Europe being the targets.
Corporate results confirm worst fears about growth trajectory.
Indian investigators are tracing the supply chain of a US-manufactured GoPro camera found with Lashkar-e-Taiba terrorists, revealing a potential external logistics network supporting terror outfits in Jammu and Kashmir.
The Delhi High Court has recognised an individual's 'right to be forgotten', ruling that search engines cannot perpetually display judicial records in name-based searches for private cases or those ending in acquittal.
India Inc's investments abroad in April-June 2015 have once again risen to $1.3 billion.
A survey, with over 3,700 respondents across digital platforms, found that transparent taxation has been one of the most significant initiatives of the government followed by the production-linked incentives (PLI) scheme, equalisation levy and new labour codes.
The Indian industry is paranoid about the USA's plan to impose reciprocal tariffs and wants early conclusion of a bilateral trade agreement, sources said on Wednesday. They said that the talks for the proposed bilateral trade agreement are going well.
India Inc's quarterly net profit reached a record high of Rs 1.64 trillion in the third quarter ended December 31, 2020, mainly due to gains from higher commodity prices and a big swing in banks' earnings. The combined net profit of 3,323 listed companies that have declared results so far was up 68.6 per cent year-on-year (YoY). In comparison, earnings were up six times (534 per cent) in the second quarter and 6.5 per cent in the corresponding period last year.
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.
Cybersecurity breaches have emerged as the top risk shaping organisational performance, with 61 per cent of respondents identifying it as the primary risk, said a Ficci and EY report.
Onestruction Inc and DataKaveri Systems have signed an MoU to establish a framework for strategic and technical collaboration in urban and built environment data exchange.
India Inc has started lobbying with the government to compensate them by giving tax incentives on the funds spent on CSR.
'It is inconceivable that there are no gays working in Indian corporations but obviously, the subject remains taboo enough in the workplace for those of alternate sexual orientation to feel safer remaining in the closet,' notes Kanika Datta.
Corporate India's merger and acquisition deal activity in February stood at $2.3 billion taking the total M
Demand on rise as companies look to expand in Asian, European markets
Grant Thornton's international business report claims India Inc to be most optimistic about economy.
India Inc, while welcoming the Reserve Bank of India's move to cut the key interest rate, expressed doubts on lenders' response to pass on the benefits to customers.
Murthy, the chief mentor of IT bluechip Infosys, said fairness, transparency and accountability were the "three pillars" of corporate ethics which companies should adhere to.
Food inflation fell to a four-month low of 9.18 per cent for the week ended March 26, even as wholesale price inflation stood at 8.31 per cent in February.
'As re-industrialisation gathers pace across regions like Asia, Europe and the US, a wide range of products and inputs will see demand.'
Tata Consultancy Services' (TCS) annual dividend payout declined to a four-year low of approximately 39,820 crore in FY26, marking its steepest decline in a decade and potentially adversely affecting Tata Sons' finances, which heavily rely on TCS's dividend income.
With the hardening of global interest rates, India Inc appears to be less attracted to foreign currency convertible bonds and is instead looking to public issues in global and domestic markets to raise funds.
Despite optimism about export prospects, investments and recruitment in the next six months, India Inc's business confidence index fell in the fourth quarter of fiscal 2004-05 compared to the previous period, a FICCI survey said on Monday.
India's captains of industry said they were disappointed at the exit of Reserve Bank of India Governor Raghuram Rajan.
The infrastructure sector, however, felt the package was insufficient and wanted additional measures. "The government's package is inadequate. We expected at least $20 billion relief package, giving emphasis to the infrastructure sector.
