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Q1 results indicate more pain ahead, as slowdown has spread to more sectors, pricing power has come down and rising interest cost is eating into profits.
Unperturbed by the change of guard at the Centre, India Inc on Thursday exuded confidence that economic reforms would continue to be the focal point of the new government even as it emphasised on stability.\n\n\n\n
Companies with no or little debt account for three-fourths of m-cap of BSE 200, excluding financial firms.
In March this year, Worldline India launched Vabox (Voice Alert Box): merchants will now get instant audio alerts on the settlement of UPI (Unified Payments Interface) payments via QR codes in languages of their choice when customers check out. "They needn't worry whether the amount has been credited to their account," says Gulshan Pruthi, the firm's executive vice-president. The French payments giant will roll out 500,000 Vaboxes in the initial phase.
In the backdrop of cement players refusing to cut prices, Finance Minister P Chidambaram on Saturday asked India Inc to look beyond their balance-sheets and play a role in helping the government ensure macro economic stability.
Prime Minister Narendra Modi is making his inaugural address on the 95th Annual Day of Indian Chamber of Commerce via video conferencing.
The employees, who took part in this study, agreed that monetary transaction at 39.2 per cent is the most prevalent form of corruption.
Capex plans for the next six months imply a 20 per cent increase in calendar 2010.
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."
Weeks after it revised the rating outlook of two companies of embattled Adani group, S&P Global Ratings on Wednesday said it is watching for additional information on the conglomerate's governance and funding for any ratings action. Investors, it said, seek clarity on the credit impact of a string of allegations against the group in a short-seller report published in late January, and on the findings of a recently launched Supreme Court investigation. S&P Global published an FAQ-style commentary titled, "Adani Group: The Known Unknowns".
Several fiscal and monetary incentives since December 2008 helped the industry to recover into a growth trajectory. The 10 per cent plus growth in manufacturing, basic goods, mining, electricity has been buoyed by these measures, Confederation of Indian Industry said.
'While most companies were bullish before the second wave of double-digit sales growth in FY22, that may not be the case now.'
India Inc on Friday expressed the hope that the robust 17.6-per cent industrial growth in April will help the economy grow by 8.5 per cent in this fiscal, even though factory output growth may moderate after June.
India Inc's order-books swelled to Rs 37,666 crore (Rs 376.66 billion) in the first quarter of the financial year 2008-2009, up 93 per cent from Rs 19,520 crore (Rs 195.2 billion) for the same period last year. In the fourth quarter of 2007-08, the order-book had increased by 121 per cent to Rs 42,545 crore
The BJP declared a total income of Rs 1917.12 crore during 2021-22 and spent Rs 854.467 crore or 44.57 per cent of it.
The CBI had registered a preliminary enquiry in 2016 which was later converted into a regular case, they added.
Operating margins improve, but sales still sluggish
'A democracy cannot mean the rule of just two people,' said one audience member, who recalled that he too had chanted 'Modi, Modi' when the PM had visited the USA. Many of those gathered admitted to having been Modi supporters. What had changed them was the growing concentration of power. Jyoti Punwani reports from New York.
According to a mid-year survey on 'Performance & Reward Trends' by Hewitt Associates, companies across industries are strongly differentiating rewards on the basis of performance but majority of them are not considering any layoffs or severe salary cuts in current fiscal. The survey revealed that 16 per cent of the companies surveyed have a salary freeze and were mainly organizations in the financial services, IT and ITeS sector.
Tax liability insurance is a key negotiation tool used by companies and advisers when a potential tax exposure has been identified and neither party is willing to bear the risk.
The drop in growth rate is subsequent to the corporate sector cutting investments by nearly Rs 90,000 crore (Rs 900 billion) in 2011-12 compared to 2010-11, according to the pre-Budget Economic Survey tabled by Finance Minister P Chidambaram in Parliament on Wednesday.
For most companies this would mean extending medical coverage to same-sex partners, say legal experts.
India Inc has raised a whopping Rs 237.3 billion (Rs 23,730 crore) through initial share sales in April-January, which is nearly 10 times than that mobilised during the corresponding period last fiscal.
A survey showed as much as 95 per cent of CEOs and MDs were against Sebi's mandatory guidelines the company's to declare their quarterly performance, Assocham said in a statement.
A glance back at some of the important ups and down Indian Inc faced in 2018.
It bounced back from the historic low of 41 recorded in the April-June quarter, during the initial days of the pandemic and lockdown.
Industry body Confederation of Indian Industry said with the government having announced a clear road map for fiscal consolidation and non-food inflation demonstrating a secular decline, conditions are conducive for RBI to have intervened with a repo and cash reserve ratio reduction.
As per Hewitt's annual Salary Increase Survey 2009-10, the double-digit hike in salaries are anticipated for this year led by sectors like telecom, engineering, pharma and energy.
Even the best of government policies rarely satisfy the corporate sector. So, it is perhaps surprising that the year 2006 saw a scheme over which all business houses -- big and small alike -- were falling head over heels.
With the rupee showing a freefall and hitting a 28-month low against the dollar, India Inc has yet another headache.
Some sectors like aviation, hospitality, travel and tourism, and automobile have witnessed zero cash flow since the lockdown began.
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.
India Inc preferred to tap other sources of funds - a cheaper option - even though bank funds were available in plenty.
India Inc's deal making saw a sharp decline in 2009 with just $24 billion worth of mergers and acquisitions and private equity deals taking place, but 2010 is likely to be a year of "opportunity," according to a report by a consultancy firm.
A total of 635 companies have declared their third-quarter results and reported 22 per cent rise in revenue and 47.3 per cent growth in net profit on an average.
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