Engineering and construction conglomerate Larsen & Toubro (L&T) on Monday announced the listing of the country's first environmental, social and governance bonds on the NSE, raising Rs 500 crore through debentures. In a filing to BSE, the company said it "has listed India's first ESG bonds on the National Stock Exchange (NSE), setting a precedent for a greener and more sustainable financial future in India".
While praising the internship scheme announced in the Budget, India Inc wants clarity on how it will be implemented. The scheme is expected to help companies address the skill gap in employment. Dheeraj Hinduja, chairman, auto major Ashok Leyland, said: "We had started an internship programme at our plant in Pantnagar, which we established in 2010 with colleges there.
Chief executive officers (CEOs) across sectors have expressed intentions to expand capacities, expecting the government's target to invest a record Rs 11.11 trillion on infrastructure development will act as a catalyst for a jump in consumer demand. "With the government planning a capex of Rs 11.11 trillion, private sector investment will come in a big way. Companies will be preparing for it right from today," H M Bangur, chairman of Shree Cement, told Business Standard. For the past few years, the investment scene in India has been dominated by government capital expenditures; private investments in the manufacturing sector have remained muted.
'Banks make money because they take the right credit calls. So they need to focus on risk mitigation rather than risk avoidance.'
'The private sector will look to the budget to check whether there are any headwinds or tailwinds.'
India's leading capital goods and engineering firms are in the midst of one of their busiest seasons, with the combined orderbook surging past Rs 8 trillion in value. As on September 30, 2023, 13 of India's top 15 listed capital goods and engineering firms, for which data for the September 2023 quarter was available, had a total orderbook worth Rs 8.45 trillion - a number unseen at least since 2018-19. "This intuitively looks like an all-time high factoring in inflation," said Anupama Arora, a senior independent analyst who tracks the capital goods sector.
'The fact still remains that we will have to deliver, so the pressure is now on us to make sure we get our resources, our supplies lined up at acceptable costs.'
A recent survey discovered that Bengaluru has some of the classiest high streets in our country.
'Policy-sensitive sectors will wait and watch, but policy-agnostic areas will continue based on normal consumption demand.'
Engineering giant Larsen & Toubro (L&T) handed out a pay cheque of Rs 61.27 crore to its chief executive officer (CEO) and managing director (MD) SN Subrahmanyan in the last financial year (FY22), which is a near 115 per cent hike over FY21, as executive compensation at India Inc comes under sharp focus after two years of Covid-19. In fact, the total compensation of L&T's executive directors (including Subrahmanyan) in FY22 was 120 to 670 times the median remuneration of the company's employees, data from its FY22 annual report shows. This points to sharp hikes that the top management saw in their remuneration during the period, experts in human resources said. In FY21, L&T's executive compensation was 56 to 337 times the median remuneration of company employees.
Chairman A M Naik said H2 of 2020-21 will herald better economic and business activity in terms of tendering, good liquidity, as well as revival of labour and supply chains.
With this rejig, Mindtree's board will now have 12 board members from eight.
Over the past few months, macro parameters have improved.
Sukanya Verma looks at the recent spate of book-to-screen adaptations.
After the hit of the pandemic, India Inc is now worried about the adverse impact of inflation and higher commodity prices on their revenues and margins. The inflation scare is the strongest among manufacturers of consumer goods such as automobiles, consumer durables, and fast-moving capital goods (FMCG). Companies across sectors fear they will not be able to pass on the hike in input costs to their consumers due to weak demand, which, in turn, would lead to a hit on margins and profitability in the forthcoming quarters.
Chatterjee said the compNY is not aware of any major client concerns at this point.
Reports had suggested that the construction major had asked Ravanan to step down as the new owners were preparing the grounds for a top management overhaul at the Bengaluru-based company.
The return of private investment now struggles with lack of funds and election-driven uncertainty.
The layoffs have been done in businesses which are moving slowly due to various reasons including delayed execution
'It's all that pain that makes you the artist you are.'
Pankaj Tripathi speaks to Rediff.com about his amazing journey from a village in Gopalganj in Bihar, which had no electricity, to Bollywood's blinding lights.
He would not be part of the day-to-day activities of L&T in his non-executive role. He would, however, be there at important company events.
Over 93% of the orders in the year came from the central and state governments, PSUs, and NHAI.
Banks are clear that lending rates are not going to fall further, say Hamsini Karthik and Anup Roy.
L&T had also sought shareholders' approval to raise $600 million through a qualified institutional placement.
Both the government and RBI have to complement each other if the economy has to revive quickly.
Finance Minister Arun Jaitley last month pointed to the high cost of capital for India's businesses as a key factor behind a manufacturing slowdown.
Sectoral index up 10% in past month, as market takes hope from higher order book, revenue and operating margins in September quarter.
These plantations are not only eating into the land occupied by the region's native forests, they could also disturb the ground water reserve and soil quality
Total debt for listed Indian companies excluding financials fell only 4 per cent to $368 billion in the year ended in March 2015.
Corporates' forex borrowings have grown at a CAGR of 15.6% since 2008.
India's latest GDP numbers do not signal robust economic growth in near term.
Search is on for reliable indicators of underlying activity.
Sreehari Nair presents his Top 20 movies of the decade.
Naik is passionate about protecting India's manufacturing sector from the onslaught of Chinese imports.
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