Domestic equity investors' wealth eroded by more than Rs 4.43 lakh crore on Monday as fears of a financial contagion triggered by one of the biggest bank failures in the US roiled market sentiments. After a strong opening, Indian stocks went into a tailspin with the benchmark 30-share BSE Sensex tumbling nearly 900 points to close at 58,237.85 points -- sliding for the third straight trading session. The NSE Nifty too declined 258.60 points to end at 17,154.30 points.
The EC had on Saturday issued a notice to the Karnataka Congress over its "corruption rate card" advertisements published in newspapers in the run-up to the May 10 state polls and sought "empirical evidence" to prove its allegations by Sunday evening.
Companies have activated a comprehensive pandemic response plan with requisite risk mitigation protocols for keeping networks working as telecom is an essential service.
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.
Find out which companies, which industries, and which regions are fueling the entrepreneurial economy.
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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.
In fact, India's investment activity growth is also estimated to touch a 17-year low in FY20. With overall demand not showing signs of revival, investment activity may take longer to recover, economists said.
The Indian markets have seen a good run in the last three months with the S&P BSE Sensex rising around 7 per cent and the Nifty50 moving up 7.5 per cent. The next leg of the market rally from here on, analysts suggest, will be driven by a growth in corporate earnings over the next few quarters. That said, they do not expect material / sharp downgrades to India Inc's earnings estimates despite headwinds for the economy.
As Covid-19 cases surge in India, companies have realised it's a tightrope walk between maintaining production and ensuring employee safety.
Tata Consultancy Services (TCS), the group's biggest cash generator, overtook Vedanta to become the highest dividend payer in India in FY23. The IT services major paid Rs 42,090 crore for FY23, up 167.4 per cent from Rs 15,738 crore for FY22. The 10 biggest payers together shelled out Rs 2.06 trillion for FY23, more than double the Rs 98,371 crore for FY22.
Over the past three trading sessions, the stock of Cummins India has gained about nine per cent on strong January-March quarter (Q4) results and good near-term prospects. Its Q4 performance was led by a healthy 29 per cent revenue growth over the year ago quarter. This was largely on the back of a 33 per cent jump in domestic revenues while exports witnessed a growth of 17 per cent.
The Reserve Bank on Friday accepted most of the recommendations of its working group on corporate ownership of private sector banks, by allowing unrestrained promoter shareholding in the first five years of operations and hiking the same to 26 per cent after 15 years from the extant 15 per cent and also the new capital requirements. The move will benefit leading banks like Kotak Mahindra Bank and IndusInd Bank, among others, which have been seeking more time from the regulator to divest their stakes for many years now. Accepting 21 of the 33 recommendations of the internal working group, the central bank said the remaining suggestions are under its consideration.
The Year of India in Russia - as 2009 is officially known - has helped India Inc get into a long bear hug with the Russian consumer. They are lapping up everything - from Ratan Tata's marquee cars to Vijay Mallya's whisky.
CEOs are not happy with scorecard so far but are ready to invest more as they think one year is too short a time to revive the economy
Indian-American business leader Ajay Banga is poised to become the next President of the World Bank after the nomination period closed and no country proposed an alternate candidate for the prestigious post. In February, President Joe Biden announced that the US would be nominating Banga to lead the World Bank because he is "well equipped" to lead the global institution at "this critical moment in history." The World Bank on Wednesday closed a month-long window for nominations for its next president, with no alternatives announced to 63-year-old Banga.
Punjab's Deputy Chief Minister Sukhjinder Singh Randhawa has said a probe would be carried out to ascertain whether Aroosa Alam, a Pakistani journalist who has been visiting former chief minister Amarinder Singh for several years, has links with the ISI.
With the management of most State-owned banks hardly having time to concentrate on big-ticket business, growing the business of loan disbursals has been pushed down the priority order.
The issue regarding remuneration of company CEOs will be debated by the parliamentary standing committee.
Sejal Gulati, CEO of Time Analytics Services, Bangalore talks about earning every penny by herself, making big mistakes and learning from them.
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.
The lockdown has taught companies a lesson or two on running business with fewer human resources. These lessons are unlikely to be forgotten, observes Mahesh Vyas.
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.
Two B-1B Lancer supersonic heavy bomber jets of the US Air Force on Tuesday joined the American exhibits at Aero India at the Yelahanka air base, in a reflection of the deeper strategic ties between the two countries.
Service Tax Commissioner Gautam Bhattacharya asked India Inc to be more pro-active in sharing inputs with government officials.
Assocham estimates offices are facing staff crunches of 15 to 25 per cent with the various strains of fever.
RBI has cut the rates thrice so far in 2015 by 25 bps each.
India Inc said the Foreign Trade Policy would give a significant push to manufactured goods and agriculture- and labour-intensive exports.
Ajay Banga was on Wednesday appointed the next president of the World Bank, becoming the first-ever Indian-American to head the global financial institution which said it looks forward to working with him at a time when it's tackling the toughest development challenges facing developing countries. "The executive directors of the World Bank today selected Ajay Banga as president of the World Bank for a five-year term beginning June 2, 2023," the bank said in a press statement. In February, President Joe Biden announced that the US would be nominating Banga, 63, to lead the World Bank because he is "well equipped" to lead the global institution at "this critical moment in history."
A bench of justices S K Kaul, Dinesh Maheshwari and Hrishikesh Roy reserved its verdict after lawyers representing Facebook official, Delhi assembly and the Centre wrapped up submissions on the plea of Mohan challenging summons issued by the Peace and Harmony committee for failing to appear before it as witness in connection with the north-east Delhi riots matter.
Finance Minister Pranab Mukherjee on Tuesday admitted the Reserve Bank of India's move to hike short-term lending and borrowing rates will hurt growth in the near-term, but exuded confidence that economic expansion will gather pace later as a consequence.
'Raghuram Rajan's contribution to the country's economy is "exemplary" and he would always be remembered for his outstanding work.'
In FY23, the State Bank of India (SBI) reported a 57.4 per cent jump in its net profit to Rs 55,684.17 crore. But the chairman of the country's largest bank, Dinesh Khara's annual pay for this creditable performance was just Rs 37 lakh (his peers at state-run banks are no better off). Look at his private bank rivals - most pocketed in excess of Rs 7 crore annually - plus stock options.
In its latest report for the office market, property consultant Cushman and Wakefield said the total seats leased by enterprises could cross 50,000 during the 2021 calendar year. Enterprises had leased 18,213 seats in the first six months of the 2020 calendar year and 36,255 desks during the entire last year.
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.
CII suggested the policy measures required to ease the tight liquidity situation by cutting CRR by at least 50 basis points.
These pics will unleash a love for shorts that will never die.
Analysts say that retail offers a big opportunity and acquisitions are a way to grow rapidly; there is also the need to deploy this money gainfully.
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