Mergers and acquisitions are set to become one of the most important trends of 2007 for India Inc, with the total deal value crossing $50-billion mark with one more month still to go. According to data compiled by international consultancy major Grant Thornton, India Inc recorded M&A deals worth $940 million in November, taking the total for first 11 months of 2007 to $50.79 billion.
Riding high on the buoyant economy, an overwhelming majority of the India Inc lists innovation among the top three strategic priorities as compared to their global counterparts, a survey says.
The Rajasthan government has suspended Jaipur Heritage Municipal Corporation Mayor Munesh Gurjar following her husband's arrest in a bribery case related to the issuance of land deeds, a development she termed a 'political conspiracy' against her and her family.
At a time when the overall narrative is around India being an attractive investment destination, the two American multinationals are more specific in projecting India as their centrepiece.
Tata Steel, Suzlon mop up $700 million; Tata Power to raise $250 million. Tata Power also joined the queue on Tuesday and launched its $250-million GDR issue, with an option to retain a higher amount.
India Inc's order book has more than doubled to an all-time high of Rs 73,320 crore in the second quarter of the current financial year, compared to the first quarter.
India Inc on Monday saw signs of turnaround in the economy with the GDP showing a growth of 6.1 per cent in the first quarter of the fiscal 2009-10.
India Inc gave a thumbs up to the UPA-II's last Union Budget before the general elections next year and said Finance Minister P Chidambaram presented a "bold" and "growth-oriented" Budget.
The depreciating Indian rupee (the currency touched a record low for the second day in a row and closed at 53.22/23 to the dollar on Tuesday) has brought the foreign fund-raising cost for India Inc on a par with the domestic borrowing cost.
Regretting that the concept of voluntary CSR has not picked up in India, Corporate Affairs Minister Veerappa Moily on Wednesday said the new Companies Bill would make it mandatory for corporate to earmark part of their profit for corporate social responsibility (CSR) initiatives.
Industry chamber Confederation of Indian Industry said successive hikes in interest rates have had a dampening impact on industrial growth.
Equity investors should thank cash-rich biggies such as TCS, ITC, HUL, Nestl, and Bajaj Auto for this.
Law minister clears Sebi's regulation on put and call options.
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.
The Housing Committee of the Lok Sabha took the decision following which the secretariat of the House wrote to the former Congress president, a Z-plus protectee who has been living in the 12, Tughlaq Lane bungalow since 2005.
Shareholders have given approval to the appointment of Ambani scions Akash, Isha and Anant on board of Reliance Industries, the company said in a stock exchange filing.
The Railway Budget was a mixed bag for India Inc with industry bodies cautioning that the hike in freight charges will fuel inflation, while other chambers said some proposals if implemented could set the growth multiplier in motion.
While salary growth may range from a marginally positive to stagnant or even negative, the increment for some of the "super-specialised" profiles can go beyond 15%.
At present, when Indian corporates declare dividends, a dividend distribution tax is slapped at 15 per cent.
From being a net earner of foreign exchange ten years ago, India Inc turned into a net spender of forex.
Since its launch in late March after India went into a lockdown, concerns about transparency have been expressed about the PM-CARES Fund
Initial projections, at least, suggest that things are not looking good enough for India Inc, as margins are expected to soften further.
Leading drug firms Aurobindo Pharma, Sun Pharma and Jubilant are recalling different products in the US market for various reasons, as per the latest enforcement report by the US Food and Drug Administration (USFDA). While Aurobindo Pharma is recalling Cyanocobalamin Injection, which is used to treat and prevent lack of vitamin B12, Mumbai-based Sun Pharma is recalling a drug used to increase the production of natural tears in eyes. Similarly, Jubilant Cadista is recalling a drug which is used to treat different inflammatory conditions.
USIBC wants Obama to raise America Inc's concerns with Manmohan Singh.
Hailing Narendra Modi's victory, India Inc hopes the incoming government would boost economic growth and create jobs.
Rising commodity prices are set to hurt margins of India Inc in the on-going fourth quarter of FY 11, even though revenues are seen higher than the previous year, ratings agency Crisil said on Monday.
Results of 138 firms show revenue growth has declined further, but net profits are up
It also issued notice to chairman of Sudarshan News, Suresh Chavhanke, Odisha Television Limited, Pittie Media LLP, Bharat Prakashan (Delhi) Limited which is the owner of The Organiser, Voice of the Nation'.
India Inc on Tuesday described Finance Minister Pranab Mukherjee as industry's Sachin Tendulkar saying the veteran leader was steering the economy "with ease of a seasoned player" in difficult times.
Interrupting a two-month streak of decline, outward foreign direct investment (FDI) rose sequentially to $1.85 billion in July over $1.07 billion in June, an increase of 73 per cent. However, it was lower than the $2.18 billion in July last year, according to the Reserve Bank of India data. Outbound FDI, expressed as financial commitment, has three components - equity, loans, and guarantees.
Ashok Soota has cited 4 challenges that India Inc is facing. He stressed on a robust risk management strategy for Indian companies. He also stated responding to changes in market environment, resolving legal and regulatory differences and encouraging leadership and accepting cultural diversity as other challenges. Highlighting the challenges faced by the India Inc, experts said globalisation is essential to pursue growth opportunities and leverage comparative advantage.
'This has become a necessity now to kick start the investment cycle'
