CORPORATE INDIA
Number of women in top roles rises slower than number of women in company boards
A paper by NCAER economists Ratna Sahay, Navya Srivastava, and Mahima Vasishth has documented these findings while highlighting the progress and shortcomings in gender diversity since the April 2015 mandate, the report said. This paper will be presented at the India Policy Forum.
NIIT appoints Pankaj Jathar as CEO
Jathar has experience in consumer-focused businesses, spanning e-commerce, startups and D2C ventures. He will be responsible for capitalising on new opportunities through the integration of GenAI to drive innovation and growth, the company said in a statement.
Corporate Watch: M&M, Tata Comm among 36 stocks in spotlight this week
Welspun Enterprises and DJ Mediaprint declared dividends with ex-dates on July 5. Escorts Kubota also set July 5 as the ex-date for dividend issuance. Several other companies like Tide Water, SKF India, and Balaji Amines have dividend and ex-date announcements in the same week.
MNCs in India fret as US yet to ratify global tax deal
Tax experts say the international tax treaty, which Republicans strongly oppose and requires a two-thirds majority in the US Senate to pass, faces significant challenges. Without US ratification, meeting the OECD tax deal's implementation conditions to reshape the global tax system becomes extremely difficult. The international tax treaty's implementation needs acceptance by 30 jurisdictions and the inclusion of the headquarters jurisdictions of at least 60% of the most profitable multinationals; given that many of these businesses are located in the United States, US participation is critical to attaining this level.
Stars aligning to create a pathway for corporate India to borrow cheaper: Lakshmi Iyer
No, clearly, if you are looking at the current scenario, whether it is on the fiscal front, whether it is on the inflation front, or whether it is on the flow front, in terms of creating another additional demand lever, the stars seem to be aligned to ensure that the confluence of all of these factors are set to drive interest rates lower further. Of course, we need to have the icing on the cake, which is the policymaking from the central banker, which obviously is impending and may not really manifest itself in a big hurry.
India keen to speed up power grid link talks with Sri Lanka
India is actively pursuing discussions with Sri Lanka to establish a power grid link, focusing on renewable energy for electricity trading. The project includes overhead and under-sea cables, with economic benefits being evaluated by PwC India and plans for a joint consultant for investment decisions.
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Tata Group is India’s most valuable brand: Report
Tata Group has maintained its position as India’s most valuable brand with a brand value of $28.6 billion, according to the latest Brand Finance India 100 2024 report. The group's Taj hotel brand also secured the top spot as India’s strongest brand. Infosys follows as the second-most valuable brand with a brand value of $14.2 billion, showing a steady 9% growth. HDFC Group surged to the third spot with a brand value of $10.4 billion following its merger with HDFC Ltd.
Accumulate NLC India, target price Rs 300: Anand Rathi
NLC India Ltd., incorporated in the year 1956, is a Mid Cap company (having a market cap of Rs 33528.87 Crore) operating in Power sector.
India Inc's CSR spends on sports likely to surge in next few years
The foundations of several companies, such as the Reliance, Tata Steel, JSW, Hindustan Zinc and SKF India, have been supporting sports as part of their corporate social responsibility (CSR) commitments. However, the data on whether there has been an increase in the CSR spend on sports and by which companies is not available. This is due to an MCA notification in September 2022 that no longer requires companies to disclose details of their CSR spends but only the total spends towards CSR.
Essel Group company Shirpur Gold admitted for insolvency
To secure a ₹65-crore loan, SGRL had given an undertaking to Industrial Finance Corporation of India (IFCI) that it would maintain its own excess shares besides those of Zee Media, Zee Entertainment (both promoted by Essel Group) and Dish TV India (which is under Chandra's younger brother) to the extent of ₹32.50 crore. The outstanding dues include a principal amount of ₹65 crore along with accumulated interest of ₹27 crore up to October 14, 2021.
JPMorgan India bank CEO Singh quits before end of term
Prabdev Singh, CEO of JPMorgan Chase Bank in India, has stepped down prematurely from his three-year term. Pranav Chawda, currently heading commercial banking, will expand his role to lead India Corporate Banking. Singh, known as PD, joined JPMorgan in 2010 after a decade at HSBC. JPMorgan has operated in India since 1922, with four branches nationwide.
Vena Solutions expands into India with new headquarters for talent growth
Vena Solutions has established a head office in Indore, Madhya Pradesh, in collaboration with Innogent Technologies, named Vena Solutions India, to recruit talent across India.
US Senators and corporate world bat for stronger India-US relationship
Senator Dan Sullivan said a lot of these countries are motivated by historical grievances. "I think this... new era, it's really a return to the era of authoritarian aggression, is going to be with us for years and decades to come," he said. One needs to deepen, broaden and make more concrete relationships in the different areas of QUAD, he said, referring to the grouping of the US, India, Japan and Australia.
Indian corporates are likely to go slow on overseas dollar loans: BofA
Indian corporates are likely to reduce overseas dollar loans due to expensive current rates. There is a 'huge pent-up demand' for investing in local firms' equity. Borrowing costs in the US have increased sharply, leading to a preference for IPOs and follow-ons in India.
While stepping down, very few independent directors speak up
Till date this year, out of 180 independent directors who resigned from corporate boards citing "personal reasons", only four have mentioned issues such as corporate governance or lack of transparency for doing so. In recent weeks, though, Nisaba Godrej stepped down as independent director on the board of VIP Industries citing accountability issues while Marc Desaedeleer resigned from Suzlon board citing "transparency" issues.
India's top 100 listed companies must verify market rumours in 24 hours
Starting June 1, the top 100 listed companies must confirm or deny market rumors in mainstream media within 24 hours. The rule aims to prevent information leaks affecting stock valuation, enhancing market fairness. Sebi's new framework excludes price volatility for corporate actions, ensuring a level playing field for all investors. This initiative strengthens the market's integrity, making it more attractive to global investors.
Capital needs to remain high for Indian corporates: Moody's
Moody's Ratings reported on Thursday that Indian corporates face high capital requirements for capacity expansion and growth spending. 16 out of 23 rated companies are estimated to need USD 70-100 billion annually over the next two years. While domestic liquidity can cover some needs, offshore funding remains crucial. Strong consumption growth, infrastructure spending, and government targets will continue to drive corporate capital needs.
Public affairs & advocacy - a career choice
Advocacy and Public Affairs have evolved significantly over the past decade, transforming into a strategic function for corporates. The landscape now includes policy analysis, stakeholder engagement, and risk management. The introduction of policies like the Pre-Legislative Consultation Policy has increased public participation in the legislative process, fostering transparency and inclusivity. Public Affairs in India is evolving to champion knowledge-based engagement and inclusive practices, with companies increasingly recognizing the importance of engaging with Public Policy professionals for business decisions.
LinkedIn India, Satya Nadella face MCA penalty: LinkedIn says reviewing fine for next step
LinkedIn is reviewing penalties imposed by the Ministry of Corporate Affairs for violating SBO norms. The Rs 27.1 lakh fines target LinkedIn India, Microsoft's CEO Satya Nadella, CEO Ryan Roslansky, and others. The order requires disclosure of significant beneficial owners, penalizing non-compliance. Appeal options are available within 60 days.
MCA fines LinkedIn India, Satya Nadella and 8 others for violation of Companies Act, 2013
In its order, reviewed by ET, the Registrar of Companies for the national capital region of Delhi and Haryana under the MCA said the company and the officials are liable for penal action for "failure to take necessary steps as per section 90-4A (of the Companies Act) to identify the SBO in relation to the company".
Writing is easy, not living: Challenges in implementing family business constitutions
Numerous families face difficulties in actualizing the principles outlined in the document into practical, everyday reality. We discuss here the key challenges encountered in implementing a family business constitution.
Strategies for effective implementation of family business constitutions
This article explores strategies for the effective implementation and bridging the divide between the aspirational ideals outlined in the constitution and the lived reality of day-to-day interactions, long-term strategies, decision-making processes, and familial aspects of harmony and togetherness.
Family Businesses should be run like trustees for the next generation: DCM Shriram Group
Addressing the session on " Purpose-driven and responsible," Ajay S Shriram, Chairman and Senior Managing Director, DCM Shriram Limited, opened up about family businesses and emphasised that the enterprise needs to balance its approach like trustees for the next generation.
CSR activity transcends compliance boundaries, companies embrace impact investing: Deloitte
Indian companies are expanding their corporate social responsibility (CSR) initiatives beyond compliance, with a focus on strategic impact investing such as social bonds and pay-for-success models, according to a Deloitte India survey. While interest in innovative models is high, navigating complexities remains a challenge. CSR is increasingly seen as a key driver of corporate strategy, with firms re-evaluating their strategies in response to changing regulations and ESG norms.
Indian companies show interest in impact investing but face challenges: Deloitte CSR survey
Deloitte India's CSR preparedness survey reveals that only 28% of Indian organizations feel very prepared for impact investing, despite high interest. The study shows a shift towards CSR as a strategic driver of corporate strategy, with increased investment in technology solutions and focus on accountability.
RBI appoints R. Lakshmi Kanth Rao as new Executive Director
The Reserve Bank of India (RBI) has appointed R. Lakshmi Kanth Rao as its new Executive Director, effective May 10. Rao will oversee the Deposit Insurance and Credit Guarantee Corporation, Right to Information Act (FAA), and Department of Communication. Rao has over three decades of experience in various domains, including Banks and NBFCs regulation, supervision, and consumer protection.
KM Birla's daughter Ananya takes a break from her music gig to devote energy to business
Ananya Birla, founder of Svatantra Microfin, pauses her music career to prioritize business endeavors. Daughter of Aditya Birla Group's chairman, she manages key group companies and advocates mental health awareness through Mpower. With recent significant investments in Svatantra, she focuses on scaling her microfinance venture alongside her home decor brand Ikai Asai.
Private sector's investment share declined to the lowest level in four years in FY23
Public non-financial corporations or public sector companies were the worst performers as their share in investment declined to 9.4%, the lowest level in 12 years. The share of households in investment also declined to 40.5% in FY23 from 41.4% in FY22.
India sees incorporation of 1.85 lakh companies in 2023-24
During FY 2023-24, a total of 1,85,312 companies were registered with a collective paid up capital of Rs 30,927.40 crore, according to the corporate affairs ministry's information bulletin for March.
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