Page 24 - Indian Companies

90% of GCCs plan to harness AI, ML in 2-3 years, says ANSR report

Most GCCs in India support critical business goals by using AI, data analytics, robotic process automation, and cloud services

India Inc capital expenditure story gets cement to semiconductor push

The private capex momentum is being led by conglomerates such as Tatas, Reliance Industries and Adani group, among others

TVS SCS announces supplying 500,000 two-wheeler CKD kits to TVS Motor

Work completed in modern warehouse in Hosur to ensure defect-free dispatches, says supply chain company

Private equity firm Bain Capital to sell remaining Axis Bank holding

The price range for the share sale has been set at Rs 1,071 - Rs 1,076 per share, a discount of up to 0.47 per cent to Axis Bank's last close of Rs 1,076 per share

Reliance Industries rally, earnings optimism propel markets to new peaks

Investors making long-term bets in hope of political stability: Analysts

Still early days for GenAI on revenue side, says LTIMindtree CEO & MD

The desired results of the merger have been impacted by the prolonged slowdown that the industry is witnessing

Indian pharmaceutical market registers a growth of 9.5% in March 2024

Moving annual turnover of Rs 1.98 tr between April 2023 and March 2024 marked a 6.5% growth, despite a 1% decrease in domestic market volumes

50% of public service organisations set to use GenAI soon: EY survey

Public organisations recognise that Gen AI will improve the citizen experience and serve as a catalyst to drive innovation

Manipal Health Enterprises nears Rs 1,400 crore deal to acquire Medica

Manipal Health Enterprises (Manipal Hospitals) currently operates 9,500 beds across 33 hospitals in India. Medica has a presence in eastern India with 1,200 beds

ZEE layoffs: CEO Punit Goenka to cut workforce by 15% in a bid to cut costs

Zee Entertainment Enterprises has proposed the implementation of a lean and streamlined management structure to the Board

Aerospike raises $109 mn to accelerate artificial intelligence innovation

According to International Data Corporation (IDC), the AI market is projected to reach $251 billion by 2027

Singapore's Xcelerate picks up strategic stake in governance firm Stirrup

The acquisition by Xcelerate comes at a time when demand for ESG-related advisory and communication services is on the rise following increased regulatory emphasis on ESG disclosures

Byju's seeks arbitration on NCLT trial; hearing adjourned to April 23

The plea for arbitration is interesting, as this will mean that the case will be moved away from NCLT's jurisdiction

Tesla's sales drop, a sign that its grip on the EV market is slipping

The sales decline caught investors off guard as rivals like BYD of China and Kia and Hyundai of South Korea reported increases in electric vehicle sales

Should companies keep the public informed about the health of their CEO?

When and how much should CEOs disclose health-related challenges? Do key management personnel have the right to privacy? These questions often crop up

Indian firms collect Rs 9.41 trn from private placement of corporate bonds

Indian companies garnered Rs 9.41 lakh crore through the issuance of bonds on a private placement basis in 2023-24, a surge of 10 per cent from the preceding fiscal amid surge in credit demand. The 2024-25 fiscal is expected to be very robust as companies will continue to raise capital for capex post-election results. "In an unprecedented era of economic development aided by pro-business reforms and macroeconomic stability, India is set to become the third largest economy globally by 2027 and will continue to see strong flows. "In this backdrop, we expect FY25 to also be a very strong year from a primary capital perspective as companies will continue to look to raise capital for capex post-election results," Neha Agarwal, Managing Director & Head of Equity Capital Markets at JM Financial Ltd, said. According to data compiled by Prime Database, the amount raised through debt private placement in 2023-24 stood at Rs 9.41 lakh crore, up 10 per cent from Rs 8.52 lakh crore in 2022-23.

Despite the challenges, credit quality of India Inc improves in FY24: ICRA

According to the agency, the Credit Ratio in FY24 stood at 2.1 times, with the rating agency upgrading two entities for every entity downgraded, continuing the trend from the last two financial years

Govt raises Rs 16,500 cr by selling stakes in companies in FY23-24

Prime Minister Narendra Modi's ambition of privatising state-run firms has taken a back seat due to general elections that start on April 19

Credit quality of Indian companies stayed healthy in H2FY24, says CRISIL

Rating upgrades surpassed downgrades in H2FY24. Outlook remains robust for H1FY25

Torrent Group's Mehta family pledges Rs 5,000 crore for social causes

The donation, spanning five years, will be directed to the UNM Foundation, focusing on healthcare, education, ecology, and social well-being initiatives