Corporate India's credit quality showed a sharp improvement in the second half of FY22, but high input prices and withdrawal of pandemic-related relief measures can pose pressures in the new year, rating agencies said on Friday. Crisil Ratings, which rates a large number of financial sector entities, reported an improvement in the credit ratio -- the number of upgrades to downgrade -- to 5.04 times in the second half of this financial year, from the 2.96 per cent in the first half of the fiscal. It attributed the improvement to a sustained rebound in demand, which lifted revenues of most sectors to pre-pandemic levels and proactive relief measures by the government that cushioned the pandemic blow.
A fundraising boom in the domestic market and tightening of the regulatory framework for overseas issues are responsible for this trend.
Leading political rallies or taking charge in boardrooms, the next-gen woman is taking it all in her stride.
A plea that the banking regulator's stress should be on the strategic role of boards and an increase in the remuneration of independent directors were among the issues put forward to the Reserve Bank of India's (RBI's) top brass in its interaction with the full boards of state-run banks held on Monday. The meeting, the first leg of first-of-its-kind interactions with the boards of state-run banks, will now be followed by those of private banks in Mumbai on May 29. The RBI's press release, issued late on Monday, did not refer to the specific points that found mention in the deliberations, but top sources told Business Standard the twin concerns were taken up in the open-house interaction with the banking regulator's brass.
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.
If we basically expect the government to use taxpayers' money to intervene every time when there are some 'sunsets,' then I think you introduce possible moral hazards: Subramanian.
The Eternal Gandhi Museum is the only Gandhi-related museum in the United States, dedicated to Gandhi, to preserve and promote his ever-lasting legacy of nonviolent conflict resolution.
'This solid verdict would further strengthen his resolve to drive forward the economic agenda to ensure that the fruits of the economic momentum continue to reach the poor, so visible during the last five years.'
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
Rishad Premji, chairman of IT services major Wipro, saw his compensation for FY23 decline by almost 50 per cent year-on-year, due to a fall in the firm's profit. According to the Form 20-F, filed with the US Securities and Exchange Commission by Wipro, Premji's compensation for FY23 was $951,353, down 50 per cent from $1,819,022 in FY22. "Rishad A Premji is entitled to a commission at the rate of 0.35 per cent on incremental consolidated net profits of Wipro Limited over the previous fiscal year. However, in light of the fact that the incremental consolidated net profits for fiscal year 2023 was negative, the Company determined that no commission was payable for fiscal year 2023 to Mr Rishad A. Premji," said the company in the filing.
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.
Japan World Cup match a big draw for viewers in Japan, less so in Germany
India's stiff labour laws were one key issue that Apple CEO Tim Cook discussed with Prime Minister Modi on his recent visit.
In the technology (tech) world, especially storage, Sanjay Mehrotra is a well-known name. Co-founder of SanDisk, a flash memory storage company in 1988, it was eventually acquired by Western Digital in 2016 for a whopping $19 billion. For a boy from Kanpur, who went on to pursue higher studies in the US, becoming the chief executive officer of Micron Technology, Inc - one of America's largest memory chip makers - and now setting up the company's first plant in India, it has been quite a ride.
India Inc's hiring activity was up 17 per cent in February with telecom and auto sectors leading the rebound, a report by leading job portal Naukri.com said.
Just before the 2008 financial crisis made headlines, Indian companies were on a global buying spree. In the fifth part of the series, Dev Chatterjee and Krishna Kant discuss how the crisis came as a black swan event for some, changing the mood from exuberance to despair.
The first leg of Micron's semiconductor play in Sanand is crucial for the company to sprint towards India's goal of joining the chip race.
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.
The move to ban Rs 500 and 1000 notes may not curb the root cause of black money.
India Inc (excluding trading and financial services companies) was sitting on a cash mountain of Rs 456,700 crore (Rs 4,567 billion) as on September 30, up 21 per cent from the same time a year before.
Apple is hoping to assemble in India 25 per cent of all iPhones produced globally to reduce its heavy dependence on China.
At a time when Apple delivered its flagship line of new products on schedule despite battling a year of supply-chain turmoil, India could account for at least 12 per cent of the free-on-board (FoB) value of Apple Inc's iPhones manufactured by its vendors globally by 2025-26 (FY26). The number represents a significant shift for the Cupertino-based company's over-dependence on China, where 95 per cent of its phones are still being made. India's growing importance can be seen from the fact that in 2021-22 (FY22) - the first year of the production-linked incentive (PLI) scheme (the scheme was extended by a year due to the pandemic) - the FoB value of iPhones made in the country was $1.75 billion, translating into less than 2 per cent of the global value.
'As long as ASUS continues to introduce new products into the market, we still have a chance to grow our business in India.'
Exit polls have a way of going horribly wrong, as they did in 2004. And India Inc is hoping it stays that way this time, too. That's because industry is concerned that the fractured verdict predicted by various media channels on Thursday would mean continued uncertainty on the economic policy initiatives that need to be taken up on a war-footing.
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.
That's because India does not have a serious venture capital industry with an appetite for risk, observes T N Ninan.
In a pre-Budget meeting with Finance Minister Nirmala Sitharaman, the corporate leaders highlighted several issues, including certain income tax matters which were coming in the way of mergers and acquisitions or slowing them down and roles that need to be played by state businesses to prosper at the ground level.
The government will investigate a claim that WhatsApp accessed the microphone of smartphone users while the phone was not in use, Minister of State for Electronics and Information Technology Rajeev Chandrasekhar said on Wednesday.
Global sales of soccer gear were up more than 700% for the 2022 World Cup in Qatar versus the 2018 World Cup in Russia across the Fanatics network of online stores.
'We are in a sweet spot.' 'Equity, on a standalone basis, will continue to remain the asset class to stay invested in.'
'As the Indian economy continues to expand over the next three years, mid- and small-caps should do well as they have higher exposure to the domestic economy than large-caps.'
Indian employers have robust hiring intentions for the next three months, with 49 per cent of companies planning to add more staff in the January-March quarter, as employers are positive about achieving sustained post-pandemic recovery, a survey said on Tuesday. According to the latest ManpowerGroup Employment Outlook Survey, hiring sentiment in India is the strongest reported in eight years, improving by five percentage points in comparison with the prior quarter and by 43 percentage points when compared with this time one year ago. The survey of 3,020 employers noted that 64 per cent expect to increase their staffing levels, 15 per cent anticipate a decrease and 20 per cent do not anticipate any change, resulting in a seasonally adjusted Net Employment Outlook of 49 per cent.
Find out which companies, which industries, and which regions are fueling the entrepreneurial economy.
Assocham expressed concern over the precarious situation that the manufacturing sector is in, observing that if the trend does not reverse with monetary and fiscal measures it would be difficult for the industry to generate jobs.
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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.
Employees of some top Indian companies were in for a pleasant surprise when they received a mail from their HR team announcing a hike in salaries and bonuses. Led by IT firms and start-ups, HR managers say that while some have offered cash and stock options, others are in a wait-and-watch mode and add the trend will pick up in other sectors. For example, IT giant Cognizant - which had an attrition rate of 19 per cent in the December quarter - has established a $30-million employee retention fund in order to bring down the high attrition rate.
Companies have activated a comprehensive pandemic response plan with requisite risk mitigation protocols for keeping networks working as telecom is an essential service.
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