PRIME DATABASE GROUP
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.
Global chips battle intensifies with $81 billion subsidy surge
The concern over China’s rapid advances in key electronics turned into a full-scale panic during the pandemic because chip shortages emphasised the significance of these tiny devices for economic security.
Government gains PSU muscle as stocks climb peaks
The value had touched a high of 22% of total market capitalisation of listed firms in June 2009, dropping to a low of 5.1% in September 2020 before doubling since then, according to data from primeinfobase.com. Re-ratings amid large valuation discounts, high dividend yields, record cash flows and news of possible privatisation triggered a sharp rally in public sector companies over the last three years.
Self-reliance! Mutual funds holding in NSE-listed companies at all-time high in Q4 even as FIIs pull away
The share of FIIs was down by 51 bps quarter-on-quarter (QoQ), resulting in the gap between FII and DII holdings narrowing further to an all-time low in this quarter. The DII holding is now just 9.23% lower than the FII holding.
Big six corner most of auditing business in Nifty-500 universe
According to the report, of all the companies with equity shares listed on the NSE main board, the Big 6 Indian audit firms secured 637 assignments out of 1,961. This accounted for approximately 32.48% of the total, up slightly from 32.14% the previous fiscal year. Auditor details were missing for 47 organisations. A key standout has been the strong performance of Grant Thornton and MSKA affiliates who have established themselves as strong alternatives to the Big Four firms in audit business.
DIIs' ownership of Indian companies may soon overtake FII holdings
Foreign holdings in NSE-listed companies was at 18.19% as of December 2023 down from 19.66% in December 2018 or 19.36% as of December 2013. FIIs holding hit a peak of 21.21% in December 2020.
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Rs 48,000 crore: India Inc's buyback bill in 2023
Data sourced from Prime Database reveals that 48 companies spent ₹48,079 crore on buying back their stocks in 2023 - a year when the benchmark Nifty 50 appreciated over 20%. This is second only to the record of over ₹55,000 crore spent in 2017 when the benchmark index posted a return of 29%.
Pranav Haldea explains the takeaways from 2023 IPO market
“Typically in an IPO cycle, we find that towards the end of the IPO cycle, valuations get slightly stretched, which is what you have seen in 2021, in 2017 and even in 2008. However, this time we are seeing good quality, well-governed companies and the valuations have also been fairly reasonable. ”
Corporate insiders go on a $12 billion selling spree: Could this be a sign D-Street is overvalued?
By reducing their stakes in the companies they founded or manage, insiders are creating space for local and foreign institutional investors to amass the kind of sizable positions they have long been unable to build. This year’s insider sales also point to “a mindset change in India” as founders realize they can retain control of their companies with much less, said Avinash Bharti, India head of equity capital markets at JPMorgan Chase & Co.
Adani Group promoters sold shares worth Rs 37,000 crore in 2023 to raise cash
While the selling in Adani Group companies and Vedanta was meant to raise cash to manage debt, HDFC Life and CIE India saw promoter entities offloading stake for strategic reasons.
Manipur violence: Meitei group meets Rajnath Singh over removal of Assam Rifles
On Thursday the DMCC delegation handed over a memorandum to a Valley based civil society organisation, the Coordinating Committee on Manipur Integrity(COCOMI).
Big 5 auditors handle nearly every 2 out of 3 Nifty500 companies: Report
India's five largest audit firms dominated the audits of Nifty500 companies in FY23, handling almost two out of every three audits. The Indian Big 5 audit firms managed 551 assignments of the 1,869 companies whose equity shares were listed on NSE, accounting for 29.48% of the total, while the top 10 audit firms accounted for 38%. Deloitte led with 19% of the market capitalisation of the companies they audited with KPMG at 17% and EY at 15%. Auditor resignations dropped from 57 in FY22 to 16 in FY23.
With Big Tech ousted, what’s next for internet grouping IAMAI
Earlier this week, the Internet and Mobile Association of India (IAMAI) elected a new 24-member governing council – and from that, a four-member executive council . Dream11 cofounder and CEO Harsh Jain was elected the chairperson with Makemytrip cofounder Rajesh Magow becoming the vice-chairperson and Times Internet vice chairman Satyan Gajwani taking over as the treasurer.
Rs 11,000 cr boon! Not only videshi, but even desi investors bet big in 5 Adani companies in March quarter
In March, the group got a lifeline of Rs 15,000 crore from global investment firm GQG Partners, which picked up stakes in 4 Adani Group companies. This further soothed Dalal Street investors and brought in some stability in the stocks.
Age diversity in focus: India Inc's boardrooms have wisdom in plenty, but much less of young blood
Age diversity is seen as an important aspect of effective board governance. To be sure, the average age of Indian boards is lower than that of companies in the US and UK. According to Prime Database, the average age of directors on Indian boards is 59 years, compared with 63 in the US.
View: Budget envisages Prime Minister Narendra Modi's vision of Amrit Kaal
The new spreadsheet is to be seen in a continuum of earlier budgets that provided the economy with its much-appreciated resilience. It is aimed at pulling massive investments and businesses by introducing a slew of disruptive measures.
Indian banks' fundraising spree to continue in Jan-Mar to enhance capital: Analysts
Apart from credit growth and refinancing, the market condition is conducive, if you look at the long-term rates for bonds," said Soumyajit Niyogi, director, core Analytical Group at India Ratings and Research. "So they are beefing up capital.Indian state-run and private banks raised an aggregate of 611.94 billion rupees ($7.39 billion) in October-December, more than double the 301.34 billion rupees raised in July-September, according to data compiled by Reuters.
LIC listing pushes up govt ownership in NSE cos to 7.15% in Q1
For the past 13 years, (since June 2009), the share of the government in listed companies has been steadily declining, from 22.48 per cent in June 2009, to 7.15 per cent in June 2022, primarily due to divestment, lack of many new listings as also lacklustre performance of many central units relative to their private peers.
Govt will be developing a national database to monitor hawala transactions, terrorist activities: Amit Shah
He said the government under the leadership of Prime Minister Narendra Modi has had a zero tolerance policy against terrorism from the very first day.
Israeli inquiry checking NSO database over police wiretap allegations
NSO, which has denied wrongdoing amid months of spiralling reports in Israel and abroad of privacy violations by government clients using Pegasus, has said its "audit log" database provides accurate information on phones infected by the spyware.
LIC holding in listed stocks hit all-time low in Q3; HNIs' at record high
In rupee value terms though, the holding value of LIC holdings hit an all-time high level of Rs 9.53 lakh crore in the December quarter, an increase of 1.46 per cent over the previous quarter. LIC also continues to command a lion’s share of investments in equities by insurance companies (77 per cent share).
Auditors shifting out of jobs at financial companies to comply with new RBI guidelines
As per Prime Database, more than 30 auditors have already rotated out from their assignments citing the RBI guidelines and multiple auditors have told ET that scores of such conversations are on with audit committees and a spate of resignations can be expected over the next month or two.
Retail ownership in NSE-listed companies at all-time high
Retail ownership of companies listed on the National Stock Exchange (NSE) reached an all-time high in the June quarter, with participation of individual investors in India’s capital markets surging through a period of sustained gains for the broadest benchmark indices.
Separation of powers in companies: Are family-run businesses ready to embrace change?
Companies have time till April 1 to fall in line with Sebi’s diktat that chairperson and MD/CEO are not same or related.
Retail ownership in NSE companies crosses Rs 10 lakh crore for first time
“What is also significant to note is the continuing overwhelming presence of retail investors in mid-cap and smaller companies, which institutional investors typically stay away from,” said Pranav Haldea, managing director, PRIME Database Group.
Rating India Inc becomes difficult as many companies refuse to cooperate amid pandemic
With the Covid stress emerging, there are concerns that more companies could choose not to cooperate with rating agencies fearing a downgrade.
Private promoters’ holdings in stocks at record high, while govt's at record low
Since June 2009, private promoter ownership has been steadily increasing, having risen from 33.61 per cent on June 30, 2009 to 44.43 per cent at the end of June.
Many NSE-listed companies yet to appoint women independent director
Corporate governance experts and board members attributed this to sheer inertia on part of companies in meeting the mandate. Some also said there was a strong bias against women that still existed in the top echelons of the corporate hierarchy.
Equity fund-raising up 28% in 2019
With a 141 per cent jump in fundraising via offers for sale (OFS) at Rs 25,811 crore.
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