Indian Firms

Opportunities & challenges: The jury is out on what, how India Inc achieves

BS1000 companies' combined revenues rose by Rs 24.5 trillion in FY22, while their net profit was up by Rs 3.24 trillion

Chinese companies may need majority Indian partners to set up plants

Some global players are pushing for a 50-50 equity structure, pointing out that without such a split, most Chinese firms might not want to share their technology at all

India Inc must step up: EAM S Jaishankar on China trade imbalance

External Affairs Minister S Jaishankar on Thursday said the responsibility for the trade imbalance with China rests squarely on businesses as well, blaming Indian corporates for not developing the right sourcing arrangements. Speaking at the Asia Economic Dialogue here, Jaishankar said the government is doing its bit by bringing in policies like the thrust on Atmanirbhar Bharat and made it clear that the "massive external exposure" puts national security at threat. Terming the challenge posed by the trade imbalance with China as very serious and formidable, the career bureaucrat turned politician said the responsibility here is not just of the government, but it is an equal responsibility of businesses as well. "Indian corporates have not developed the kind of backwards (integration), vendor supplies, components and parts, ingredients and intermediates that should be supporting us," he said. With lots of people, including former RBI Governor Raghuram Rajan, asking India to focus on

Only 34% firms meet Sebi's requirement to raise 25% fund via debt: Analysis

Only 34 per cent of the 320 AAA- and AA-rated companies have met their 25 per cent incremental fund raising through debt instruments as of FY22, nearly three years after market regulator Sebi's mandate for such firms, an analysis showed. These companies have an outstanding debt of Rs 34 lakh crore as March 2022, according to an analysis by India Ratings, which says that these companies will have to borrow an additional Rs 6,890 crore by FY24 to meet the Sebi regulation. In FY19, Sebi passed a guideline wherein the listed large corporates with borrowings of Rs 100 crore or more and with credit ratings of AA and above would have to borrow 25 per cent or more of the incremental borrowings through bonds. The regulator allowed them to meet the norm in a contiguous block of two years. And the companies were to meet the criteria beginning FY20. The regulation also sets a penalty of 0.2 per cent of the balance debt amount in case a company fails to raise the required percentage of funds ..

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

PLI scheme to make Indian firms competitive, attract investment: Survey

Benefits of the production linked incentive (PLI) scheme for as many as 14 sectors will help make domestic manufacturers globally competitive, attract investment in cutting-edge technology and make India an integral part of the global value chain, the Economic Survey said on Tuesday. The scheme will benefit the MSME ecosystem in the country, it said. It informed that as of December 31, 2022, 717 applications have been approved under 14 schemes and over 100 MSMEs are among the PLI beneficiaries in sectors such as bulk drugs, medical devices, telecom, white goods and food processing. As per reports of different ministries which are implementing their schemes, about Rs 47,500 crore of actual investment has been made; production/ sales of Rs 3.85 lakh crore of eligible products and employment generation of around 3 lakh has been reported. The government had announced an outlay of Rs 1.97 lakh crore for the Production-Linked Incentive (PLI) schemes for different key sectors, to create .

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

Sheela Foam to buy rival mattress maker Kurl-on for Rs 2,000 crore

The combined entity will have a market share of more than 50 per cent in India's organised mattress space

Flex spaces in demand as 35-40% of firms prefer hybrid working: Awfis study

Survey finds that 45% of companies are looking for new office spaces including conventional and flexible ones, 35% have adopted a multi-office approach by collaborating with co-working spaces

HC asks GST dept to drop notices against firm facing audit proceedings

Calcutta High Court says not clear how parallel proceedings can be conducted by three wings of same department

Top headlines: Adani to build plants in SL, active Indian firms near 1.5 mn

Business Standard brings you the top headlines this hour

Remarketing adoption in India jumps 50% during festival season: Study

Remarketing is a paid marketing tactic that allows users to serve ads to individuals who have previously visited a website or engaged with his (the user's) content on a social platform

Indian firms outpace parent companies in valuations, shows data

Besides valuation differential, the Indian market is considered to be one of the key markets for most of these MNCs

Borrowing costs bite: Interest-rate surge hurts corporate profits

Interest expenses of listed firms (ex-BFSI) were up 18.5% YoY in Q2FY23

Most Indian firms still face key challenges towards net-zero goals: Report

About 63 per cent say the lack of access to peer networks and cross-sector communities is a top challenge impeding climate collaboration.

India Inc moves to Dubai in droves as emirate eases ownership rules

The CEPA aims to boost India-UAE bilateral trade to $100 billion in goods in the coming five years

Asha Ramanathan, new COO; Gayathri Parthasarthy, new FSS lead at PwC India

Asha is a qualified chartered accountant (CA), and Parthasarthy is a Financial Services industry veteran

Brightcom calls off Rs 566-cr deal to acquire MediaMint; to go for alliance

Hyderabad-based digital marketing solutions firm Brightcom has decided to call of its deal to acquire MediaMint for Rs 566 crore and will now go for a strategic alliance with the latter. In December 2022, the Brightcom Group had entered into an agreement to acquire digital consulting firm MediaMint for Rs 566 crore in a cash and stock deal. "Brightcom and MediaMint have jointly decided to change their proposed transaction from acquisition to a possible strategic alliance and provide back-end services to Brightcom's future acquisitions. In this context, they have cancelled the definitive share purchase agreement that was entered into on December 07, 2021," a regulatory filing stated. Some of MediaMint's recent client additions are in the same business as Brightcom, which could impact the growth prospects of the combined business. As a result, the companies determined it was best to pursue independent paths of growth, it explained in the filing. "Under the reworked plan, Brightcom wi

Indian firms must adopt new payment security standard as 5G era begins

The PCI SSC, a global payment security forum, has published version 4.0 of the payment security standard

Poor mental health of employees costs Indian firms $14 bn yearly: Survey

Poor mental health amongst employees costs Indian employers around USD 14 billion annually in absenteeism, lower productivity and attrition, according to Deloitte's Mental Health Survey. Over the years, mental health issues have seen a steady rise globally, accentuated further by the onset of COVID-19. According to World Health Organisation (WHO), India accounts for nearly 15 per cent of the global mental health burden. To analyse the current state of mental well-being amongst Indian employees, Deloitte Touche Tohmatsu India LLP (DTTILLP) undertook a survey titled 'Mental health and well-being in the workplace', it said in a statement. The survey dives into the top stressors from an employee's perspective, along with an estimate of the yearly economic cost to Indian companies arising from poor employee mental health. Around 47 per cent of professionals surveyed consider workplace-related stress as the biggest factor affecting their mental health, followed by financial and COVID-19