Wishlist for new PM includes growth boosters, reining in inflation, faster project clearance and reversal of Land Acquisition Act
Across the country, companies have stepped up their act to contain the crisis. IT and other new economy firms seem to have taken a lead.
India's corporate sector is likely to report a slowdown in revenue growth and earnings for the July-September 2023 period (Q2FY24), according to earnings estimates by brokerages, after the country's top listed companies posted higher than expected profits for the first quarter. The combined net profit of Nifty50 companies, based on brokerage estimates, is expected to have grown by 19.6 per cent year-on-year (Y-o-Y) to Rs 1.75 trillion in Q2FY24 - a sharp deceleration from 37.6 per cent Y-o-Y growth in the combined earnings of index companies in the April-June 2023 period. According to estimates, the combined earnings in the second quarter would be down 8.8 per cent on a quarter-on-quarter (Q-o-Q) basis and the lowest in the past three quarters.
Passenger fares and freight rates were left untouched
India Inc seems to be in top gear when it comes to raising funds from the domestic and overseas markets with plans to accumulate over 10 billion dollars in the month of June alone.
Though the Indian aviation sector is finding it tough to glide smoothly due to the rise in operating cost, Indian Inc seems to be flying high with new aircraft buys
Assocham estimates offices are facing staff crunches of 15 to 25 per cent with the various strains of fever.
Some big ones hoard cash unduly and others borrow to keep up payments to shareholders
India's harsh lockdown has left companies grappling with temporary closure, chaotic supply chains and depressed demand. Consequently, business plans have been modified.
In his first interaction with business leaders after becoming Congress vice president, Rahul Gandhi urged India Inc to work together to build this brave, empowered new India. Here's the text of his speech
One of India Inc's top demands is the abolishing of the MAT.
Ahead of the Budget, India Inc has asked Centre to up divestment target to at least Rs 25,000 crore (Rs 250 billion).
LG Electronics India made a dazzling market debut on Tuesday, ending 48 per cent higher than its issue price and surpassing its South Korean parent in market value.
India Inc on Tuesday expressed disappointment over the Reserve Bank increasing the key rate by 0.25 per cent and hoped that banks would refrain from hiking lending rates as such a move will scuttle economic recovery.
Average global growth prospects for the next 12 months and the next three years are 35 per cent and 49 per cent, respectively.
Decisions taken during the meeting of Prime Minister Narendra Modi and US President Barack Obama will take the bilateral strategic ties to an "altogether new high", India Inc said.
16 national and regional industry bodies and sectoral business lobbies video-conferenced with Commerce and Industry Minister Piyush Goyal on Saturday and raised key concerns facing Indian industry in the wake of the 21-day lockdown over coronavirus.
India Inc created a new record by mobilising Rs 24,993 crore (Rs 249.93 billion) in FY06-07, which is higher by as much as 5 per cent compared with the previous year's Rs 23,676 crore (Rs 236.76 billion).
Welcoming the launch of the Bharatiya Mahila Bank, India Inc on Wednesday said the initiative will propel women's financial inclusion, encourage female entrepreneurs and empower women in the country.
Relax fiscal consolidation, boost public capex and reduce cost of finance, industry tells Centre
Companies put in strict disclosure, job switch clauses in HR policies.
Business leaders, among others, ask govt to let go of fiscal target, seek stimulus, and direct cash transfer.
Yes Bank said it is set to unveil a branch to be operated exclusively by women.
Corporate earnings got a big boost from the fall in commodity and energy prices in July-September 2023 (Q2FY24) despite a slowdown in revenue growth during the quarter. The combined net profits of 3,123 firms that have declared their results so far were up 38 per cent year-on-year (Y-o-Y) to Rs 3.07 trillion in Q2FY24, up from Rs 2.24 trillion a year ago. Earnings were, however, down 3.5 per cent on a sequential basis from Rs 3.18 trillion in April-June (Q1) FY24.
In a culture where children take up the profession of their father, her becoming a politician was seen as natural and acceptable.
In a survey by BS reporters across India, a majority of the 25 CEOs who responded said they expected the FM to introduce amendments to the I-T Act which would reduce litigation in tax disputes between firms and the revenue authorities.
Several leading industrialists, including Reliance Industries CMD Mukesh Ambani, Vedanta Resources Limited executive chairman Anil Agarwal, chairman emeritus of Tata Sons Ratan Tata, Mahindra Group chairman Anand Mahindra, Paytm Founder and CEO Vijay Shekhar Sharma, Welspun Group chairman and Assocham president B K Goenka, attended the swearing-in ceremony.
'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.'
'Raghuram Rajan's contribution to the country's economy is "exemplary" and he would always be remembered for his outstanding work.'
The post-Covid pandemic boom in corporate revenues appeared to have faded away in 2023-24. Yet, companies have reported a sharp recovery in their profits in FY24, driven by high margins. Their combined net sales, including gross interest income for lenders, rose by a modest 4.8 per cent year-on-year (Y-o-Y) in FY24.
The biggest irony is that nearly two-thirds of these funds are estimated to have come from investors in overseas markets, which themselves were in shambles and where companies were in dire need of capital, forcing them to beg their respective governments for money.
India Inc on Monday said the policymakers in the country must ensure corrective measures at the earliest to rebuild investor confidence.
The decision by the Reserve Bank of India to introduce a unified regulatory framework on connected lending for all the regulated entities (RE) is expected to reduce the influence of business conglomerates in the Indian lending space, said bankers and experts. "Connected lending pertains to lending to related parties within the same business group. "While the RBI might appear more agreeable to allowing business conglomerates to own banking licenses, it deems it crucial to bolster regulations that would prevent conglomerate-owned banks from gaming the system," said Shivaji Thapliyal, head of research and lead analyst, YES Securities.
No capital came in through the approval route, while the rest of $9,86,681 was by way of issuance of rupee denominated bonds.
The mandate will help further the development agenda in these states, with good governance and policy reforms taking centrestage
A strong performance by sectors including banking raised the profits of Indian companies by 28 per cent in the three months ended March 2022. The rate of growth is, however, lower than the 30 per cent seen in December. Growth in net sales was also lower than what was seen in the December quarter for the sample under consideration.
