Cheering the rebound in India's economy which grew 5.7 per cent in the April-June quarter, highest in the past two-and-a-half years, India Inc on Friday said it expects the GDP to pick up further on the back of conducive investment policies and execution of reforms by government.
The diplomatic exercise aimed at presenting India's stance against Pakistan on terror comes in the wake of Operation Sindoor -- the Indian offensive against terror camps in Pakistan and Pakistan-occupied Kashmir following the April 22 terror attack in Pahalgam in which 26 people, mostly tourists, were killed.
Presenting the Narendra Modi government's maiden Rail Budget, Railway Minister Sadananda Gowda announced setting up of logistic parks and private freight terminals on PPP model.
India Inc did not perform well during December quarter.
At the sector level, commodity linked sectors (energy, materials and utilities) and industrials reported the strongest revenue growth, while telecom, consumer discretionary saw the most decline in net profits.
Expressing disappointment over the hike in repo rate by the RBI, India Inc on Friday said a rate cut by the bank would have helped ameliorate sentiments as businesses are "reeling" under a tight liquidity crunch due to high cost of capital.
India Inc on Saturday cheered the road map for lowering corporate taxation.
Encouraged by softening inflation, the RBI on Thursday decided to cut the benchmark interest rate by 0.25 per cent to 7.75 per cent with a view to boost growth.
The Congress party announced its intention to challenge the constitutionality of the recently passed Wakf (Amendment) Bill, 2024 in the Supreme Court. AICC general secretary Jairam Ramesh stated that the party will "very soon" file a petition, citing concerns about the bill's impact on constitutional principles. Ramesh highlighted the Congress's ongoing legal challenges against other legislation, including the Citizenship Amendment Act (CAA), amendments to the Right to Information (RTI) Act, and changes to the Conduct of Election Rules. He emphasized the party's commitment to defending the Constitution's principles, provisions, and practices.
India continues to rank as the third top source of overall malicious activity including spam, malware, phishing hosts and bots
Revenues of Indian companies, excluding those engaged in banking and oil, are expected to grow marginally at 5-6 per cent in the first quarter of this fiscal.
There has been a sharp recovery in the headline corporate earnings in the April-June 2023 quarter (Q1FY24), after a dismal showing by early bird companies. The combined net profit of the 983 listed companies that have declared their quarterly results, so far, was up 64.7 per cent year-on-year to record a high of Rs 2.68 trillion in the first quarter, but growth in earnings remained lopsided because most of the incremental gains came from a handful of companies. Moreover, the quarterly numbers showed a continued slowdown in revenue growth.
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 country's largest consumer goods company Hindustan Unilever says it has been able to reduce its water use by regular metering, monitoring and controlling of utilities consumption at all its manufacturing sites
'While investors believe in India's long-term growth story and resilience amid global uncertainty, they see near-term risks around the direction of a global trade war.'
'If the government was serious about co-opting the corporate sector meaningfully in the fight against COVID-19, it could have specified activities beyond cheque-writing,' notes Kanika Datta.
He lauded the government's 'minimum government and maximum governance' policy.
Aam Aadmi Party swept the Delhi polls with 67 seats.
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.
83% of the CEOS plan to hire more in the new year.
Since its launch in late March after India went into a lockdown, concerns about transparency have been expressed about the PM-CARES Fund
The Boxing Federation of India (BFI) elections have been put on hold after conflicting orders from the Delhi and Himachal Pradesh High Courts.
The new Land Acquisition Act to provide just and fair compensation to farmers came into force from January 1, 2014.
The RBI had lowered policy rates by 0.50 per cent between January-March to prop up economic growth.
A statement issued by the parliamentary affairs ministry earlier on Saturday said the all-party delegations will project India's national consensus and resolute approach to combating terrorism in all forms and manifestations.
When it comes to key hands-on management positions, India Inc is still largely run by men.
India Inc has an impressive report card to show for the first quarter of this financial year.
A glance back at some of the important ups and down Indian Inc faced in 2018.
Tight liquidity will hit over-leveraged and cash-hungry companies, spare conservative ones
CII suggested the policy measures required to ease the tight liquidity situation by cutting CRR by at least 50 basis points.
Besides the pandemic that resulted in higher interest rates, the default by Future Retail has dealt a blow to investor sentiment.
The benefit coming in from the Rs 1.45 lakh crore tax giveaways will also help companies to cut prices by up to 5 per cent to boost consumer demand, which has been sagging and is one of the prime reasons for the deepening slowdown.
Experts said a future rate cut would depend on the inflation.
The higher than expected growth in the second quarter of 2013-14 is an indication of recovery in economy but some key sectors still need to perform better, India Inc said on Friday.
Industry chamber Confederation of Indian Industry said successive hikes in interest rates have had a dampening impact on industrial growth.
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.
The handsome 25 per cent rise in corporate profits in the September quarter amid a sharp contraction in GDP was on the back of wage squeezes, leading to rise in inequalities in India, economist Nouriel Roubini said on Thursday. This rising inequality is "dangerous" politically and socially because only a few people in the economy are benefitting, the economics professor at New York's Stern School of Business said. Roubini said earnings of listed entities have risen 25 per cent in the September quarter, which means that wages and income are getting "squeezed, if not collapsed".
In order for life insurance customers to attain maximum benefits, it is crucial for the persistency ratio to be far higher than its current level, top executives of the industry said at the Business Standard BFSI Insight Summit on Thursday. The persistency ratio is a metric that measures the number of policyholders who continue paying renewal premium and is gauged at varying stages in the life of a policy. A higher persistency ratio is seen as an indicator of an insurance product that caters satisfactorily to the needs of a customer.
The earnings are, however, expected to be down around 2 per cent on a sequential basis due to pent-up demand getting exhausted and the adverse impact of rising metals and energy prices on consumer goods and manufacturing companies.
The Karnataka high court has granted an interim stay on criminal proceedings initiated against Bharatiya Janata Party leader Amit Malviya and Republic TV's Editor-in-Chief Arnab Goswami, in connection with allegations of spreading false claims that the Indian National Congress (INC) operates an office in Istanbul, Turkiye.
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