Page 4 - Indian Firms

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

70% of Indian firms hit by a ransomware attack in last 3 years: Report

A year ago, a sophisticated attack on a provider of IT management software led to the compromise of scores of MSPs and thousands of downstream customers

AI to eliminate hiring bias, find skilled workers for Indian firms

Whopping 96.5% of recruiters at Indian startups and SMEs in India believe that the use of AI is one of the best ways to improve recruitment process, eliminate bias from hiring process, report showed

Rated Indian firms better placed to withstand rising rates, inflation: S&P

Companies and banks in India could feel the bite of rising rates and inflation, but rated firms are better cushioned to withstand the pressure, S&P Global Ratings said on Tuesday. It said further hike in interest rates is on the cards as the inflation remains above the RBI's upper tolerance limit of 6 per cent despite a 140 basis points increase in policy rate in the current fiscal year. "In a stress scenario we conducted, credit profiles will deteriorate for companies that account for 20 per cent of the outstanding debt analyzed. This is according to a stress test of more than 800 largely unrated companies in India, representing USD 570 billion in debt. Rated issuers are generally better cushioned to withstand rising rates and higher input costs," S&P said in a report. The US-based rating agency said it expects India's continued strong economic growth to positively affect companies' revenues. S&P had in May cut India's growth projections for the current fiscal year to 7.3

Over 50% India firms raise ICT budget, cybersecurity key concern: Report

More than 50% of enterprises in India have significantly increased their information and communications technology (ICT) budget this year compared to 2021, a report showed on Thursday