The Economic Times
The Economic Times CONCOR appoints Harish Chandra as CFO
This development follows the departure of Manoj Kumar Dubey, who served as Director (Finance) & CFO, as he assumed the role of Chairman & Managing Director at Indian Railway Finance Corporation Limited.
The Economic Times Asian Warehousing CFO Sachin Ravilal Dedhia resigns
In a regulatory filing to the BSE, the company stated that Dedhia stepped down due to preoccupation with other work commitments. Dedhia had been with Asian Warehousing since February 25, 2019, when he joined as CFO.
The Economic Times IREDA gets nod to set up retail subsidiary for renewable energy business
This new entity will handle the retail business under key government schemes such as PM-Suryaghar (Rooftop Solar) and PM-KUSUM, along with B2C segments in renewable energy (RE) and emerging sectors like electric vehicles (EVs), energy storage, and green technologies.
The Economic Times Jindal Power, Vedanta and CESC in race for Hiranmaye Energy's ₹1,300 crore assets
Eight companies, such as Jindal Power, Vedanta, and CESC, are vying to acquire Hiranmaye Energy in auction. The Kolkata-based thermal power producer has a reserve price of ₹1,300 crore. The company owns three units, with two operational. It has a 25-year agreement with the West Bengal government for power purchase and coal supply from Coal India.
The Economic Times Ratan Tata's half brother Noel Tata steps up as chairman of Tata Trusts
Already a trustee of the Sir Dorabji Tata Trust and Sir Ratan Tata Trust, entities that together hold a 66% stake in Tata Sons, Noel Tata brings decades of experience within the Tata Group to his new role. He currently holds chairmanship of Trent, Voltas, and Tata Investment Corporation.
The Economic Times India's Adani Enterprises raises $500 million via share sale, sources say
ADANI-ENTR-India's Adani Enterprises raises $500 million via share sale, sources say
The Economic Times If rate cut happens in Feb, it will come with significant downward revision of GDP: Union Bank report
The Reserve Bank of India (RBI) holds the repo rate unchanged, shifting its policy stance to neutral, signaling ongoing inflation concerns. The UBI report suggests no rate cut in December due to rising inflation, with a possible rate cut and GDP forecast revision in Q4-FY25.
The Economic Times India deal lifts TCS Q2 revenue
CEO K Krithivasan cited “some signs of improvement, most notably in financial services in North America,” acknowledging that the “demand outlook continues to remain cautious”, on an analyst call after earnings were announced. A planned press conference was cancelled due to the death of Ratan Tata.
The Economic Times Pressure amps up on Infosys, Wipro to beat high expectations amid correction woes
“While demand is improving, it is not beating existing estimates,” analysts at HSBC Global Research wrote. The recovery seen so far in banking, media and telecommunications won’t be enough to beat consensus views, they said. Commentary on the effects of rate cuts and the finalization of 2025 budgets from some US firms will be key.
The Economic Times Q2 results may be India Inc's worst quarter in 4 years. Investors brace for more downgrades
India's stocks are expected to see their worst quarterly earnings since the 2020 lockdowns. Analysts predict Nifty's earnings will grow only 2% in the September quarter. This slowdown is driven by demand issues. Sectors like BFSI, healthcare, and utilities may see some growth, while commodity sectors struggle.
The Economic Times When Mukund Rajan reminisced about Ratan Tata's vision, humility and foresight
Tata Group's former chief ethics officer Mukund Rajan offered a comprehensive look at Tata's leadership style, marked by curiosity, humility, and strategic foresight of the industry at the ETCFO Leadership Summit last year.
The Economic Times World Bank maintains India's FY25 GDP growth forecast at 7% amid strong agricultural production, employment growth
India's GDP growth forecast for FY25 remains at 7% due to higher agricultural production and robust employment growth. The World Bank predicts India will be the second highest growing South Asian nation, outpacing most emerging markets. The fiscal deficit is expected to reduce by 0.7 percentage point.
The Economic Times New GST amnesty scheme notified: Waiver of interest and penalty on GST tax demand for eligible taxpayers to be effective from November 1, 2024
Waiver of GST tax demand interest and penalty: The Ministry of Finance has notified the rules and conditions to follow if you need to use 128A for waiver of your GST tax demand notice's interest and penalty component. Do note that this new section 128A will only apply on section 73 non-fraud GST demand notices.
The Economic Times GST relief for foreign airlines, academic institutions
Foreign airlines in India gain GST exemption for head office services to branch offices per a government notification. Academic institutions also receive GST relief for research grants. New GST rules, effective October 10, include tax relief and penalty waivers to encourage voluntary compliance and dispute resolution.
The Economic Times Fewer CEOs leaving as boards focus on stability & continuity
India's top 200 companies experienced fewer CEO departures in FY20-24 compared to FY15-19, indicating greater leadership stability. The reduction was seen mainly in industrial and manufacturing sectors. Covid-19 influenced this trend by making boards prioritize business continuity. Notably, the period also saw an increase in women CEOs, reflecting growing diversity.