Page 38 - Indian Companies

24% of companies surveyed in India ready to defend cybersecurity threats

Just 24 per cent of organisations surveyed in India have the 'mature' level of readiness needed to be resilient against the modern cybersecurity risks, according to a new Cisco study released on Tuesday. Cisco, in a separate announcement, said it aims to train 500,000 cybersecurity professionals over 3 years across India. Cisco's first-ever Cybersecurity Readiness Index highlighted where businesses are doing well and where cybersecurity readiness gaps will widen if global business and security leaders don't take action. Underlining that readiness is critical, the Cisco study revealed that 90 per cent respondents said they expect a cybersecurity incident to disrupt their business in the next 12 to 24 months. India scored high in the global chart in terms of maturity (24 per cent), performing above the global average of 15 per cent on cybersecurity readiness. About 38 per cent of companies in India fall into the beginner or formative stages. Conducted by an independent third-party,

Weekend Bites: Banking blues, exiting CEOs, and a new Cola War

Suveen Sinha takes you through the dust that might somewhat be settling down on the big news of the week

Beijing monitors share prices of Indian companies linked to Chinese biz

China's financial market regulators are monitoring the over valuation of India-listed companies which have business dealings with Chinese-origin companies in Asia, following a recent dispute settlement of two firms from both countries, informed sources said on Friday. The sources cited a judgement by the Singapore International Commercial Court (SICC) this month, involving India's Kiri Industries and DyStar Global Holdings (Singapore), a subsidiary of the world's largest dye manufacturer from China. The Hong Kong-based sources pointed out that Kiri's hope for a USD 603.8-million buyout of its stake by DyStar is looking dim. The deal, as per the sources, is the buyout of Kiri's 37.57 per cent interest in Dystar which was valued at USD 603.8 million. China's regulatory approvals for such a massive outflow of funds is unlikely, as regulators in Beijing are convinced that the Indian company's stake is highly overpriced due to speculative play in share prices. Hong Kong-based Senda ...

Companies must have audit trail of transactions from next financial year

Will also have to maintain edit log of changes made in books of accounts; experts say no firm will be able to delete an entry, will only be able rectify it

Indian companies need to reduce corporate flying emissions: Report

Globally, only 50 companies out of 322 have set targets to reduce business travel, with technology company Wipro paving the way in India

Fragrance, flavour industry to touch over $5 bn in 3-4 years: Industry body

The fragrance and flavour industry of the country is likely to grow around 12 per cent each year and touch over USD 5.2 billion in three to four years , an apex body of the industry said. This growth will be driven by factors like rising disposable incomes and changing consumer preferences, Fragrances and Flavours Association of India (FAFAI) president, Risabh Kothari, said. "The fragrance and flavour industry is growing very fast in the country. The present size of the industry is USD 3.7 billion in the country, Kothari said. The major user industries of this segment are food and beverages, personal care, homecare, pharmaceuticals and cosmetics, and these include major MNCs, domestic companies and small businesses, the FAFAI president said. Given the growing demand for natural and organic products, consumers are increasingly opting for them which present an opportunity for the fragrances and flavours industry, he stated. Coupled with this, consumers are willing to spend more on

Inflation and business pressure weigh on India Inc growth, says S&P

Along with Brazil and Japan, the S&P Global India business activity net balance slipped to 21 per cent in January

From board permanency to audits, India Inc lags in corp governance: IiAS

Under proposed Sebi norms, firms must get shareholder nod at least once in 5 yrs for each board seat so that promoters aren't able to retain control after losing dominant shareholding

Wipro announces new global business line model to meet client priorities

Wipro Ltd on Monday announced four strategic global business lines as it looks to deepen alignment with clients' evolving business needs and tap emerging opportunities in high-growth segments of the market. The new model sharpens focus on strategic growth areas of cloud, enterprise technology and business transformation, engineering, and consulting, Wipro said in a release. The changes will be effective from April 1, 2023. "Wipro Limited today announced four strategic global business lines to deepen alignment to clients' evolving business needs and capitalise on emerging opportunities in high-growth segments of the market," the company said. Wipro Managing Director and CEO Thierry Delaporte said the company is now doubling down on its strategic bets to take growth to its next phase. "Our transformation journey over the past three years has yielded outstanding growth for our business. So much that we have outgrown the two-business line model that we had set at the beginning of our

M&A deals down 80% so far in CY2023 as buyers seek lower valuation

India acquisitions to remain sluggish till corporate sector margins improve, macroeconomic uncertainties ease

Challenges ease, cement companies may now go from strength to strength

Aided by volume growth, analysts see earnings improving in March quarter

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