Expressing concern over high debt exposure of many companies in India, global rating agency Standard & Poor's on Tuesday warned India Inc that high oil prices can trigger inflationary pressures, trim corporate profits and slow down industrial activit
India Inc has raised a whopping Rs 237.3 billion (Rs 23,730 crore) through initial share sales in April-January, which is nearly 10 times than that mobilised during the corresponding period last fiscal.
The earnings of India Inc hit a record high in the 2022-23 (FY23) January-March quarter (fourth quarter, or Q4), compared with their poor showing in the previous two quarters of the financial year. The rise in earnings, however, is exclusively led by banking, financial services, and insurance (BFSI) companies. A better-than-expected showing by banks and non-bank lenders in Q4FY23 more than compensated for the earnings contraction in the non-BFSI space.
The private security industry expects to grow manifold in the next five years, with India Inc enhancing the protective measures after the Mumbai attacks.
India Inc's deal making saw a sharp decline in 2009 with just $24 billion worth of mergers and acquisitions and private equity deals taking place, but 2010 is likely to be a year of "opportunity," according to a report by a consultancy firm.
A total of 635 companies have declared their third-quarter results and reported 22 per cent rise in revenue and 47.3 per cent growth in net profit on an average.
Even as India Inc talks of increasing corporate governance norms after the Satyam scam, a study by global consultancy firm Ernst & Young has said that more than half of the companies surveyed do not take into account risk of frauds in their annual audit plans.
Major Indian automobile companies like Tata Motors, Bajaj Auto and Mahindra & Mahindra seem to have put up a robust performance in Q3 FY 10, paying advance tax of Rs 100 crore (Rs 1 billion), Rs 320 crore (Rs 3.2 billion) and Rs 195 crore (Rs 1.95 billion), respectively.
An unstable government is the worst thing that can happen to the Indian economy grappling with the global downturn, say business leaders.
Leading political rallies or taking charge in boardrooms, the next-gen woman is taking it all in her stride.
The manufacturing sector (excluding petroleum sector) would report a 24.3 per cent PAT growth mainly on account of low raw material prices and soft interest rates, CMIE said, adding PAT of the financial and non-financial services would rise by 32.2 per cent and 20.4 per cent, respectively.
Net profit of FMCG, IT and pharma firms was up 33 per cent in the third quarter, accounting for nearly half of India Inc's profits ex-financials and oil.
Corporate India has raised over 8 billion dollars through syndicated loans by way of 33 deals in the first half of this year led by Reliance Industries, which alone mopped up a whopping 2.7 billion dollars.
Sonia Gandhi's publicly-aired concern over the acquisition of fertile farmland for special economic zones has evoked a prompt response from corporate India, which does not want to delay showing its farmer-friendly face.
M&As are back on the radar for Indian companies, but with two vital changes. First, the average size of the deals are much smaller compared to the earlier years; and second, overseas acquisitions have taken a backseat.
RBI has cut the rates thrice so far in 2015 by 25 bps each.
In 2020-21, Indian firms offered to buy back shares worth Rs 39,295 crore, or 97% more than Rs 19,972 cr proposed in the previous financial year.
One of the Rajus, chairman of non-banking finance company Nagarjuna Finance, K S Raju, was arrested for defaulting on repayments of public deposits worth around Rs 100 crore (Rs 1 billion).
Brokerages expect India Inc to report an upturn in earnings for the March quarter of 2022-23, after a relatively muted showing in the previous two quarters. This growth is expected to be led by banking, financial services and insurance (BFSI) companies, FMCG firms, and automobile makers. The combined net profit of the Nifty50 companies (excluding Adani Enterprises) is expected to have grown 15.6 per cent to Rs 1.77 trillion in Q4FY23, from Rs 1.53 trillion a year ago.
The net profit of 82 firms up 20.2%, but topline growth slows to 14.7% on muted show by manufacturing firms.
Nine of 10 bankers who attended the meeting admitted their sanctioned loan pipeline was shrinking fast due to tepid demand.
Industry believes economy could grow well but worries about hampering by lack of infrastructure.
A fundraising boom in the domestic market and tightening of the regulatory framework for overseas issues are responsible for this trend.
Finance Minister P Chidambaram announced the Union Budget 2013-14 in Parliament on Thursday.
The study revealed that 83 per cent of Indian business leaders believe to have fair to good understanding on the issue of climate change. However, just under half of these respondents stated they have a clear strategy in place to respond to these issues. There is a significant gap between good intentions and action as only 21 per cent have measured their current carbon footprint, which is one of the first steps in defining a strategy to deal with the issue, the study noted.
Finance Minister Nirmala Sitharaman on Tuesday unveiled a Rs 39.45 lakh crore Budget with a view to fire up the key engines of the economy to sustain a world-beating recovery from the pandemic. This was Sitharaman's fourth Budget. While the taxpayers were left in the lurch, once again, was she able to cheer Corporate India?
In the first half of 2008, Indian companies accounted for a total of 34 US-bound acquisitions worth over $5.1 billion, US-based Virtus Global Partners said in its latest report on US bound acquisition by Indian companies. However, the volume of deals dropped 15 per cent to 34, from 40 in the H1 of 2007. Over 70 per cent of the transactions involved acquisition of 100 per cent stock for cash consideration.
With the exception of infra, IT & ITes - the employment outlook seems flat across sectors.
A slowdown in the global economy and the rupee appreciation are expected to hit India Inc's job recruitment plans as the country's employment outlook dipped by six points to 74 points in the April-June 2008 quarter. The business outlook dropped by 9 per cent to 70 points, according to staffing agency TeamLease Services' quarterly Employment Outlook Report.
Declining value of the rupee, widening Current Account Deficit (CAD) and the impact of likely tapering of US bond purchases are some of the key issues which will keep Raghuram Rajan busy.
'Byju's founders reserve all rights to bring actions against those parties that have caused damage to them personally and to their businesses.'
Ahead of Prime Minister Manmohan Singh's visit to the US, India Inc. has revealed it has high expectations from the tour, which it also felt would firm up strategic ties between the two nations.
Tax liability insurance is a key negotiation tool used by companies and advisers when a potential tax exposure has been identified and neither party is willing to bear the risk.
The immediate concern for all companies is to prepare themselves - and their vendors and suppliers - for the new GST return filing mechanism, being test piloted from April 1.
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.
Ambani vs Ambani, Tata vs Birla, Ambani vs Mittal, the fights came in all permutations and combinations, making 2007 arguably the most happening as well as a tumultuous period for the Indian industry that stamped its authority overseas with about 250 acquisitions worth over $32 billion.
Corporate India has put together a whopping $20 billion (Rs 90,000 crore) so far this year to fund its merger and acquisition bills abroad, surpassing all previous full year totals.
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