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The Economic Times
The Economic Times Finolex Cables plans Rs 500 crore capex, Southeast Asia and Africa expansion, says CFO Mahesh Viswanathan
In an exclusive interview with ETCFO, Viswanathan said the spending would be on the expansion of manufacturing facilities, adoption of cutting-edge technologies, and enhancement of supply chain infrastructure.
The Economic Times Axer Polymers’ Aarasp Bejan Bodhanwala steps down as CFO
Despite stepping down from his executive roles, Bodhanwala will remain involved with the company as a Non-Executive Director.
The Economic Times Easier visa norms in works for non-PLI manufacturers: DPIIT secretary
“We have already got a streamlined process for PLI beneficiaries. We’re trying to get it extended to other non-PLI beneficiaries operating in those same strategic sectors,” Singh said.
The Economic Times Tariff hikes and 5G monetisation moves hint Jio’s headed for IPO
"The stage is now set for the telecom market leader's much awaited IPO in the near future," said Mayuresh Joshi, head of equity research at Indian unit of US-based William O' Neil & Co.
The Economic Times MSMEs are on sustainability path but profitability focus can make the move faster
MSMEs contribute a big part to India’s manufacturing output and hence, it becomes critical they adopt energy-efficient technologies to reduce operational costs.
The Economic Times RBI's bumper payout to limit big ticket divestment; govt to maintain Rs 50k cr target: Report
A record Rs 2.1 lakh crore dividend payout by the RBI is expected to reduce the urgency for major divestments, according to Care Ratings, maintaining the government's Rs 50,000 crore target from divestments. Asset monetisation may be preferred if there is a resource shortfall, with SCI sales aiding in achieving the FY25 target. Potential divestments in SCI, CONCOR, and Pawan Hans are on the horizon, with projected total divestment proceeds reaching Rs 12,500-22,500 crore.
The Economic Times Greaves Finance appoints P. B. Sunil Kumar as CEO to accelerate EV financing
Greaves Finance, a Greaves Cotton subsidiary, appointed PB Sunil Kumar as Executive Director and CEO effective July 3, 2024. He will advance financing for electric two-wheelers via the evfin platform. With 25 years' experience, including positions at Taiki Consulting, Tata Finance Ltd, ICICI Bank, and GE Capital Services India, Kumar is also a chartered accountant.
The Economic Times Former RBI Guv Urjit Patel set to join Britannia Industries board again
Urjit Patel, former RBI governor, joins Britannia Industries board as an independent director. He recommenced after a two-year hiatus following his resignation in 2018. Patel’s diverse experience includes stints in both the private sector and central bank, distinguishing him from his predecessors. As a seasoned professional, he brings a unique perspective to the boardroom, ensuring a blend of regulatory expertise and corporate governance.
The Economic Times CJI Chandrachud advises SEBI, SAT to be cautious, pitches for more tribunal benches
Calling the crossing of the 80,000 points milestone by the BSE as an ecstatic moment, where India is entering a "stratospheric domain", Chandrachud said such events emphasise the importance of regulatory authorities.
The Economic Times Prove lack of funds or face audit: NCLT to Byju's
Several of Byju's employees have still not been paid their full salaries for the months of Feb and March. In an earlier letter to employees, founder and CEO Byju Raveendran had said that the move by a few investors to disable the company from using the funds raised through the rights issue had delayed disbursement of salaries.
The Economic Times DPIIT seeks Angel tax, inverted duty removal in Budget
The Department for Promotion of Industry and Internal Trade (DPIIT) has proposed eliminating the Angel Tax for startups ahead of Budget 2024, said Secretary Rajesh Kumar Singh. Introduced in 2012 under Section 56(2)(viib) as an anti-abuse measure to prevent tax evasion, the tax is levied above 30%. DPIIT asserts this removal could enhance capital formation in India.
The Economic Times Centre sacrificed large amount of GST revenue to compensate states: Former CEA Subramanian
Former Chief Economic Advisor Arvind Subramanian revealed that the Centre has been sacrificing a substantial portion of GST revenue, amounting to 1 per cent of GDP annually, to uphold a 14 per cent compensation guarantee for states since the introduction of the tax regime. Subramanian emphasised the importance of maintaining the current structure of GST, stating that bringing petrol and alcohol under GST would not be advisable.
The Economic Times 2% sustainability fee defeats purpose of GST: Tourism sector
“The tourism industry is highly taxed. If a levy of 2% on every invoice is imposed, our competitiveness will be adversely affected, and the complia nce burden will increase. No other tourism destination in India, including Kerala and Rajasthan, which are our main competitors in the inbound market, levy such a fee,” TTAG said in a letter to the tourism department.
The Economic Times India's employment paradox
India Inc is facing an unprecedented demand for blue-collar workers, far exceeding the available workforce and leading to significant challenges in project execution. The food and e-commerce delivery industries, which are expanding at nearly 20 per cent per year, exemplify this crisis.
The Economic Times What made Nomura turn bullish on Indian IT sector? Abhishek Bhandari answers
Nomura's bullish stance on Indian IT credits G2000 data stabilization, benefiting midcaps like Persistent, Coforge, and Birlasoft. Wipro's new CEO Srini stabilizes leadership and growth. Discretionary cuts stabilize; US rate cuts expected. Coforge-Cigniti deal boosts testing. Annuity-driven businesses grow. Banking portfolios, large deals vital. FY24 saw midcaps grow 10%+. QoQ growth set to improve.
