Page 36 - Indian Companies

Corporate India's deal activity jumps 58% to $3.1 bn in Jul: Report

Corporate India's deal activity witnessed a 58 per cent jump in value terms to USD 3.1 billion in July, largely driven by big-ticket transactions, while caution in the private equity world led to a reduction in overall volumes. According to data collated by Grant Thornton, the month of July recorded 95 deals worth USD 3.1 billion, registering a 46 per cent plunge in volume terms and 58 per cent increase in value terms. Shanthi Vijetha, a partner at the consultancy, said the impact of the global slowdown is visible in the deal street which has been subdued since the beginning of the year. While cross-border transactions propelled the surge in deal value, caution in the private equity world led to a reduction in overall volumes, Vijetha said. This surge in deal value was anchored by 29 deals valued at USD 2 billion, where six high-value transactions encompassing traditional sectors like IT, auto, retail, and manufacturing took the centre stage. The deal value was driven by Proximus

Pepperfry co-founder Ambareesh Murty dies of cardiac arrest in Leh

Ambareesh Murty started Pepperfry with Ashish Shah in 2012, which has presence across 100 Indian cities

M&M Ltd Q1FY24 result: Consolidated net profit up 56% YoY to Rs 3,683 cr

The revenue from operations for Q1FY24 came in at Rs 33,406.44 crore, compared to Rs 28,412.38 crore year-on-year

MRF Q1FY24 results: Consolidated net profit jumps 376% YoY to Rs 588 crore

The revenue from operations for Q1FY24 came in at Rs 6,440.29 crore, compared to Rs 5,695.93 crore year-on-year

Aditya Birla Group expands its portfolio, adds four restaurant brands

Aditya Birla New Age Hospitality (ABNAH) has added four restaurant brands, namely Hakkasan, Yauatcha, Nara Thai, and CinCin to its portfolio

Indian companies to soon directly list on IFSC bourses: FM Sitharaman

Sitharaman urges financial regulators to maintain a balance between light-touch regulation and full-fledged supervision

Indian firms can go for listing on foreign exchanges, IFSC: Sitharaman

Finance minister Nirmala Sitharaman on Friday said Indian companies can now go in for direct listing on foreign exchanges as well as on the International Financial Services Centre (IFSC) bourse in Ahmedabad. The nod, which came after three years of announcement as part of the Covid relief package, will enable domestic companies to access foreign funds by listing their shares on various exchanges overseas. A proposal regarding this was first floated as part of the liquidity package announced during the pandemic in May 2020. "A direct listing of securities by domestic companies will now be permissible in foreign jurisdictions. I'm also pleased to announce that the government has taken a decision to enable direct listing of listed and unlisted companies on the IFSC exchange. So, this is a major step forward. This will facilitate access to global capital and better valuation, Sitharmanan said here. The minister was speaking at an event to launch AMC Repo Clearing and a corporate debt ..

Indian organisations' cost of data breach at record high: Report

Cost of detecting and fixing cyberattacks has increased 45% sine 2020, it says

More women in Indian boardrooms, but mainly as independent directors

Overall representation has been increasing since Companies Act 2013

Reliance spin-off Jio Financial valued at $20 billion, above estimates

At a $20 billion valuation, Jio Financial would be one of the top 40 Indian companies by market capitalisation, in a list headed by Reliance at $233 billion

Avoid going overweight on equities, especially hot themes and sectors

Also refrain from exiting the market in the hope of re-entering at a lower valuation

Why some Indian companies still don't trust AI?

According to a PwC report, 38 per cent of Indian companies that participated in the survey have no plans to adopt digital technology for their businesses. Watch the video to know why >

Indian Staffing Federation asks firms to engage with ethical staffing firms

In a statement ISF, the apex body of the staffing industry, said it has a stringent code of conduct for its members

Indian cos look at $176 bn investment in Africa's infra development: Afcons

Indian infrastructure firms are looking at an annual investment of USD 130-176 billion in Africa for infrastructure development, Afcons Managing Director S Paramasivan said on Wednesday. Addressing the 18th CII-EXIM Bank Conclave on India-Africa Growth Partnership, Paramasivan pointed out that there is a funding deficit to the tune of USD 60-160 billion on infrastructure development in Africa, and there is scope for further investment in multiple areas. "Most of us failed to notice, last one decade practically Africa had consistently had an investment of an average of USD 80 billion per year, which I rate as very very significant," he noted. He pointed out that nearly 47 per cent of investments in infrastructure happened between South and East Africa, while about 44 per cent of investments were in East and West Africa. About eight per cent of investments were done in Central Africa, he added. "If you look at sectoral distribution (of investments), energy comes on the top. Next com

Fear of failure? Firms let IPO nods lapse on pricing mismatch, volatility

So far this year , 23 companies have decided to shelve public offers

True account: Why Indian companies don't sweat over high audit fees

One segment accounts for the majority of the industry's income, and it is not complaining

Flexi-staffing growth slows for second consecutive quarter on trot

Earlier, in Q3 the industry had registered a growth of 0.8 per cent.

Poonawalla Fincorp to keep headcount at 3,000 for 5 yrs to build AUM

Eyes Rs 50,000 crore AUM by FY27, up from Rs 16,000 cr currently

163 Indian companies invested $40 bn in US; created 425,000 jobs: Report

As many as 163 Indian companies have invested more than USD 40 billion in the United States so far which has created nearly 425,000 jobs in the country, according to a survey. The survey titled Indian Roots, American Soil of the Confederation of Indian Industry (CII), which was launched on Wednesday by India's Ambassador to the United States Taranjit Singh Sandhu in the presence of US Ambassador-designate to India Eric Garcetti, also revealed that Indian companies spent nearly USD 185 million as corporate social responsibility in the United States and their financing of US-based Research and Development (R&D) projects is nearly USD 1 billion. Indian companies in the US bring strength, resilience and competitiveness to the US. They create jobs, support the local communities, and build capacity and technical know-how. They create virtuous cycles of prosperity, Sandhu said in his address in the presence of a large number of representatives of Indian companies who are currently in the

What is ESG, how is it supporting companies' efforts toward sustainability

From the role and need to challenges faced by Indian companies in its implementation and criticism around it, here is a lowdown on what is ESG