RISE to the occasion: Capitalism’s purpose must benefit communities, says Mahindra Chairman

Posted on 2020-10-02T23:30:06+05:30 - companies

Anand Mahindra, Chairman, Mahindra Group, writes of how the coronavirus crisis has highlighted valuable lessons for private enterprise, lessons that, if taken on board, will help companies profit themselves and society.

Calcutta High Court gives no interim relief to Lodha

Posted on 2020-10-02T14:11:39+05:30 - companies

The division bench led by chief justice T.B. Nair Radhakrishnan along with Justice Shampa Sarkar clarified that there was a restriction on Lodha from holding office in any of the entities of the MP Birla group during the pendency of a suit “on the strength of shares referable to the estate of Priyamvada Birla”.

Rating agencies see surge in downgrades in second half of current fiscal amid pandemic

Posted on 2020-10-01T21:04:20+05:30 - companies

While Crisil downgraded 296 entities, it upgraded 161 entities. Its credit ratio or ratio of upgrades to downgrades for the first half of the current fiscal ended up at 0.54, the lowest in more than a decade.

Indians are giving more: GiveIndia survey

Posted on 2020-10-01T18:14:54+05:30 - companies

With close to 450 respondents, a key insight that emerged from the data is that India’s appetite for giving has radically increased during the pandemic. 85% of respondents plan to increase their giving, with 74% more inclined to contribute to local communities.

Mahindra Group appoints Mohit Kapoor as Executive VP, Group CTO

Posted on 2020-10-01T13:42:00+05:30 - companies

Kapoor joined the group from DBS Bank where he set up the Asia Hub at Hyderabad, the bank's first technology development center outside Singapore, it stated.

Indian supply-chain sector pivots for profitability: ET-ILC Members

Posted on 2020-09-30T16:46:00+05:30 - companies

Most supply-chain firms have been able to cater to this capacity starting in August. In addition to capacity building, each of them is focused on building a USP that can differentiate them from the rest.

Salary data reveals even Covid couldn't change corporate India's deep disparity

Posted on 2020-09-30T13:47:25+05:30 - companies

The numbers for 2019-20 showed that at a time when company after company executed pay cuts and fired employees during the Covid-ravaged months, there seemed to be little financial hardship for corporate India's top rungs.

SP Group company seeks loan rejig under RBI’s Covid scheme

Posted on 2020-09-30T09:16:50+05:30 - companies

The company, which is the group’s infrastructure and real estate business, has seen its cash flows hit by the Covid-19 pandemic. Although the promoters are well-placed in terms of net worth, they are not able to leverage their assets because of the dispute with the Tata Group.

India’s super-rich see wealth grow 20%, 2x pace of listed cos’ mcap during Covid

Posted on 2020-09-30T09:03:03+05:30 - companies

The cumulative value of the 828 individuals on the list stood at $821 billion (Rs 60,59,500 crore), an increase of $140 billion (Rs 10,29,400 crore) over the 2019 count, a large part of which was due to the rise in share price of Reliance Industries.

First unit of new Mahindra Thar auctioned online for almost Rs 1.1 crore

Posted on 2020-09-29T18:28:02+05:30 - companies

“Less than 2 hours left for the final bids for the Thar#1. It’s now as exciting as a Formula-e race!” Mahindra Group Chairman Anand Mahindra wrote on Twitter earlier. His excitement stemmed from the bidding competition between two people, both of whom were eventually outbid by Arun.

Mukesh Ambani has been making Rs 90 crore an hour since the lockdown began

Posted on 2020-09-29T14:07:18+05:30 - companies

Ambani's recent $20 billion fund-raising spree has already fulfilled his target of making RIL net-debt-free. This gives the tycoon unrivalled clout at a time when most other companies' balance sheets have been decimated by the pandemic. And if the number of companies seeking to hitch a ride with him is any indication, this clout is only set to rise.

Govt to fund, promote startups by Scheduled Caste students

Posted on 2020-09-29T09:06:07+05:30 - companies

Aiming to boost entrepreneurship among students from socially disadvantaged groups, the Centre is set to announce a Rs 100 crore plan to fund implementation of innovative start up ideas by Scheduled Caste category and physically disadvantaged students in the country’s higher education institutes.