Indian corporate are fast tapping the international bonds market to raise funds for their operational expenses even as they reduce their presence in the rupee bond market. As bonds are costlier for companies and investors are more sceptical than the banks, chief financial officers say they are looking at other avenues for raising funds in the coming months as dollar bond rates are lower in the range of 100 to 250 basis points. "For corporate with reasonable credit quality, the Indian bond market has become less of an option from a cost point of view. "In addition, conditions imposed in the Indian bond market by investors post Franklin episode have also become very onerous," said Prabal Banerjee, president-finance of Bajaj group. "Hence very few corporate are looking at the local bond market for resource mobilisation, since both, bank loans and the overseas bond markets are much more attractive," he said.
Rising prices of international coal - both coking and thermal - used in the making of ferrous and non-ferrous metals, respectively, are expected to have an impact on margins of metals companies in July-September quarter (Q2) as steel companies may see margins getting eroded, while the base firms could stand to benefit, said brokerages.
Domestic deals were the flavour of the month as there were 20 such transactions worth $2.77 billion in June 2015.
"India's middle class, small traders and farmers are the lifelines of its economic growth. By catering to these ambitions #Budget2019 infuses hopes for millions of dreams."
With the dizzying rise in the number of Covid-19 cases in the country, India Inc has transitioned from a wait-and-watch policy to full-on emergency mode, bringing back remote and flexi work, stringent safety protocols, and allowing only essential travel. Companies - especially in metros like Delhi, Mumbai and Kolkata - that had adopted a hybrid work model during the last few months when the caseload remained low, are either switching back entirely to work-from-home (WFH), or calling skeletal staff to office on select days. Take the case of cigarettes-to-hotels major, ITC, which had been on a hybrid work model over the last few months.
Under current laws, a company cannot sell mines but only transfer leases when it is acquired by another firm.
India Ratings expects long products demand growth to be sharp, supported by a demand push from the government-led infrastructure investments in affordable housing, railways, rural electrification and road networks.
'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.'
Chinese alumina refining and metal smelting technologies have emerged as a match for the best anywhere in the world. In fact, Vedanta and Hindalco have bought technologies from China. Our aluminium makers will be haunted by twin fears of rising imports and low metal prices squeezing margins over a long time.
Besides the manufacturing industry, voices in favouring the need for protectionism have also been heard from local start-ups, which at times find it tough to compete with global players that entered India with deep pockets.
In 2017, a consortium led by Russian state oil company Rosneft agreed to buy Essar Oil for $12.9 billion in India's biggest foreign acquisition of a homegrown company. Rosneft's buyout of Essar's assets was meant to herald a wave of energy investments in India - over six decades after Esso, Caltex and Shell invested in India's refining sector in the 1950s. But the government has tripped up in its efforts to sell Bharat Petroleum Corporation Ltd (BPCL), formerly Burmah Shell, a blue chip public sector company. Bidders include a couple of global funds and resources firm Vedanta.
All this is happening at a time when aluminium prices in the world market are firming up.
From 5G to Tesla to Covid vaccine, 10 things will shape India's future.
India's harsh lockdown has left companies grappling with temporary closure, chaotic supply chains and depressed demand. Consequently, business plans have been modified.
Largest deal in thermal power space; Lanco to use proceeds to lower debt.
As oil minister, he has overseen India's petroleum and natural gas needs. But now he also runs the environment ministry, where he has issued permits for 100 stalled projects in a month-long spree that has delighted industry but shocked green activists.
DDT is levied on dividends that a company pays its shareholders out of its profits. It is currently charged at the rate of 20.55 per cent, including a surcharge and education cess. Government may instead tax the shareholders receiving dividends, in a bid to help improve investor sentiment by addressing the multiplicity of taxes and bring down the effective tax rates for companies.
Govt diverts Rs 253-crore subsidy savings to the poor.
SC judges suspected a lack of objective criteria in the selection.
'I joined the protest on the 100th day to show solidarity with the farmers.' 'I was outside the collector's office when people started running.' 'I was wondering what had happened when I felt a pain in my hand and it began bleeding.'
The work will finish by end of the year.
Market cap of government companies has remained unchanged in the past 8 years.
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Mayank Ashar talks about India's business environment.
Women are considered to be very serious about their performance in their respective companies.
Verdict to decide fate of Vedanta Aluminium's Rs 40,000-cr projects in Odisha that will source bauxite from Niyamgiri.
Sensex may remain under pressure this week due to weak global factors.
Modi made a strong case for a partnership between the producers and consumers in the oil market as it exists in other markets.
One crucial revenue source that can help the government achieve its fiscal-deficit target is the proceeds from the sale of its stakes in public sector companies.
Cairn said it had initiated arbitration.
Why did such a 'socially conscientious' people adapt to cash-for-votes and the like, as fish to water? N Sathiya Moorthy offers an explanation.
The Supreme Court-mandated ban on all mining operations in Goa -- the second in less than a decade -- will disrupt the livelihoods of tens of thousands in the state, points out P K Mukherjee.
Markets finished lower for the sixth consecutive day as hopes of the Goods and Services tax (GST) bill being passed in the current session of the Parliament faded considerably.
'"Life-changing" clearly denotes an exceptionally high level of regard for Narendra D Modi.' 'One has to find out if the UGC used such an adulatory term for any other speaker, whether from politics or from academe,' says Amulya Ganguli.
The task of Union Finance Minister Arun Jaitley to keep inflation under check, even when the country reeled under severe drought for two years in a row, and reduce the current account deficit, was made easier by low crude oil prices.
A large chunk of the Rs 8.8 lakh crore of investments the Patnaik government had attracted is in uncertain territory.
'The Budget has maintained fiscal prudence while announcing a number of steps to boost growth, particularly in infrastructure and rural sectors.'
The markets had been on an upward trajectory since August 2013.
'The economy will pick up in 2020 or a little later... When it picks up, will it reach 10%, 8% or still lower? It all depends on how realistic are the diagnosis and the prescriptions that follow,' says Professor K J Joseph.
No stock on BSE Sensex ended in red while only 3 stocks in the broader Nifty50 index settled the day negative
Modi government has to come up with a robust economic agenda to impress the masses.
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