Page 2 - Indian Companies

India Inc's borrowing costs rise as corporate bond yields harden

Among the key triggers for the sharp selloff in the Indian debt markets were recent rounds of unfavourable cues on interest rates, which caught market participants off-guard

Unicorn club: From 1mg to InMobi, here're 100-plus start-ups in India

Bengaluru-based neo-bank platform 'Open' became India's 100th unicorn in May 2022

Cement demand climbs up, not unusual profitability for Indian cos: Moody's

The infrastructure led investments in India will drive up the demand for cement and other building materials, said Moody's Investors Service in a report.

Budget to help in reducing capital cost for Indian companies: Niti member

Appreciating Finance Minister Nirmala Sitharaman for continuing fiscal consolidation in the Budget for 2023-24, Niti Aayog member Arvind Virmani on Tuesday said it would help in reducing the cost of capital for Indian companies. Virmani further said the large increase in capital expenditures by 33 per cent to Rs 10 lakh crore for infrastructure development will accelerate India's economic growth. "On fiscal consolidation, the Finance Minister has reiterated that she will stay on it (the path of fiscal consolidation). "... So, in a situation where there is a lot of global uncertainty, it is very very important because it will have an effect on interest rates available to Indian companies," he told PTI. Sitharaman in her fifth straight budget has raised the capital expenditure by 33 per cent to Rs 10 lakh crore for infrastructure development in 2023-24. She announced a lower fiscal deficit target of 5.9 per cent for FY24 while retaining it at 6.4 per cent for the current financial .

Novatek in talks with Indian firms on LNG, may consider payment in rupees

Russia supplied Europe with some 17 million tonnes of LNG last year, up about 20% from 2021 volumes, Refinitiv Eikon data showed on Tuesday

Zydus Lifesciences net profit rises 24.48% to Rs 622.9 cr in Dec quarter

Zydus Lifesciences Ltd on Friday reported a 24.48 per cent rise in consolidated net profit at Rs 622.9 crore for the third quarter ended December 31, 2022. The company had posted a consolidated net profit of Rs 500.4 crore in the same period last fiscal, Zydus Lifesciences Ltd said in a regulatory filing. Consolidated total revenue from operations during the quarter under review stood at Rs 4,362.3 crore, as against Rs 3,639.8 crore in the year-ago period, it added. Total expenses in the third quarter were higher at Rs 3,620.7 crore, as compared to Rs 3,096.3 crore in the corresponding period last fiscal. In the third quarter, its business in India comprising formulations as well as consumer wellness registered revenues of Rs 1,643.6 crore, up 13 per cent, while the US formulations business registered revenues of Rs 1,925 crore, up 29 per cent from the year-ago period, the company said. Emerging markets formulations business registered revenues of Rs 307.8 crore, up 15 per cent an

Indian firms raise Rs 5.06 trn via equity, debt during Apr-Nov 2022: Survey

Indian companies mobilised Rs 5.06 lakh crore through the equity and debt routes during April-November 2022, a drop of 8.5 per cent from the year-ago period, the Economic Survey 2022-23 said on Tuesday. Fund mobilisation through debt contributed a lion's share to the overall fund-raising during the period under review. Out of the cumulative Rs 5.06 lakh crore garnered in FY23 (till November 2022), funds totalling Rs 3.92 lakh crore were mopped up from the debt market and Rs 1.14 crore came in through the equity route, as per the data compiled in the survey. In comparison, firms had raised Rs 5.53 lakh crore, including Rs 3.71 lakh crore through debt and Rs 1.81 lakh crore through equity, which comprised Rs 89,166 crore from initial public offerings (IPOs), during April-November 2021. According to the survey, overall, India's capital market had a good year in FY23 though global macroeconomic and financial market developments exercised some influence. "Global macroeconomic uncertain

Company formation, conversion made easier and swifter on new MCA portal

The corporate affairs ministry has made more than 46 forms available on the latest version-3 of its portal on Monday, for easier and faster filing

When shareholders don't buy the numbers

Last month, the resolution to approve the accounts of a direct-to-home service provider was defeated for third time. Regulations need to provide direction regarding the way forward in such instances

Indian startups need to reserve cash, listen to customers to stay afloat

Indian startups fired more than 18,000 employees in 2022 amid a funding winter and macroeconomic uncertainty

BCL Industries board approves raising Rs 201 crore via issuance of warrants

BCL Industries is the only company in India and the South Asian region to have a forward and backward integrated distillery ethanol plant

Global wealth, Indian business

Comparing India and China's Fortune 500 performance may not be entirely fair, but it offers some thought-provoking facts at a time when India is flaunted as the only decent economic game in town

Guyana wants Indian companies to invest in its oil and gas sector: Govt

India is diversifying its crude import sources and in 2021 imported Guyanese Liza crude

India Inc beats US firms in office leasing for first time in 2022: CBRE

Indian companies have overtaken American firms in gross leasing of office space for the first time, with almost a 50 per cent share in the total demand, according to CBRE India. In its report released on Thursday, CBRE said that the gross leasing of office space rose 40 per cent in 2022 to 56.6 million square feet across nine major cities from 40.5 million square feet in the previous year. Out of the total absorption of office space in 2022, 27.73 million square feet area was leased by domestic firms while 20.37 million square feet by American companies, according to CBRE. The total gross leasing of office space in 2022 was the second-highest leasing activity ever after it touched the peak in 2019 with a 65 million square feet area. "In a first, domestic firms overtook American firms in annual leasing, accounting for nearly half of the leasing share in 2022, mainly led by flexible space operators, technology corporates and BFSI firms," CBRE said. Bengaluru, Delhi-NCR and Mumbai ..

Business Standard CEOs poll: Capex tops India Inc's 2023 to-do list

Firms plan to go on a hiring spree; flag rising rates, weak demand as major concerns

Former Tata Sons director Krishna Kumar passes away due to cardiac arrest

Krishna Kumar, well known as K K, served as the managing director (MD) of Tata Global Beverages from May 1991 to January 1998

2022: When mental health invited action, but work needed on shedding shame

Insurance regulator intervened, India Inc stepped up but the road to awareness and acceptance remains long

Mamaearth parent files papers for IPO, co-founders to dilute stake

Honasa Consumer was valued at $1.2 bn in January, making it the first unicorn of 2022

Tata Consumer acquires 23% additional stake in South Africa-based Joekels

FMCG firm Tata Consumer Products Ltd (TCPL) on Thursday said it has acquired 23.3 per cent additional shares of South Africa-based Joekels Tea Packers for Rs 43.65 crore through a step-down subsidiary. Tata Consumer Products Overseas Holdings Ltd (TCP Overseas) -- a step-down wholly-owned subsidiary of the company through Tata Consumer Products UK Group -- "has decided to purchase 23.3 per cent of the share capital of Joekels Tea Packers, Republic of South Africa from its Joint-Venture partners," said a regulatory filing. This is as per the terms of the share purchase agreement and the shareholders' agreement, finalised and executed, amongst TCP Overseas, Joekels and the JV Partners, it added. Over the cost of the acquisition of the stake, the Tata group FMCG arm said it is for a consideration value of Rs 43.65 crore plus the adjustment amount. As a result of the acquisition, the "holding of TCP Overseas in Joekels will increase from 51.7 per cent to 75 per cent" of the equity shar

RBI imposes penalty of Rs 13.9 lakh on Mynd Solutions for non-compliance

Non-promoter shareholding in the company exceeded the 10% ceiling prescribed for TReDS operators