BUSINESS
TAFE’s battle should serve as a wake-up call for India Inc
Face-off between TAFE and AGCO encapsulates a set of interrelated problems. Agency capitalism in the US has inadequate oversight. More so, when the largest shareholder is an Indian company demanding accountability and agents can weaponise long-standing commercial ties
TRENDS
An award row shakes up a venerable Carnatic music institution
The Music Academy’s conferment of the Sangita Kalanidhi title on TM Krishna and the divide among the Carnatic music fraternity has spread like wildfire on social media and even stoked political reactions. For Music Academy, an institution whose famed annual Conference held every December in Chennai was long treated as a great mark of recognition in Carnatic music, the boycotts – by an array of distinguished Carnatic musicians – suggest a rocky road ahead
BUSINESS
Sundaram Home Finance to disburse affordable housing loans in small towns
The move follows the Chennai-based company’s diversification into small business loans in October last year.
BUSINESS
Shriram Group to exit Shriram Properties by selling stake to CEO Murali
A source at Shriram Properties has indicated that an agreement on the exit of Shriram group from Shriram Properties could happen within a month or so
BUSINESS
NCLT approves ASG Hospital’s Rs 526 cr resolution plan for Vasan Eye Care
ASG can take over the business after paying Rs 394 crore to stakeholders, employees, and creditors within 30 days. It has to put the rest into the company by way of capex and working capital.
BUSINESS
India Cements plans to spend Rs 1,600 crore to revamp aging plants
Funds for the modernisation project will be raised internally, possible from the sale of land.
BUSINESS
Cutback in MGNREA allocation surprising given its salience
Given its key role in poverty alleviation, the drastic slashing has surprised many.
BUSINESS
Budget unveils slew of measures to give a leg-up to domestic manufacturing
Cut in customs duty on a number of items, boost to local production of Lab Grown Diamonds, and cut in cost of credit to MSMEs among initiatives announced.
BUSINESS
Economic Survey 2023: FDI into manufacturing slows in first half of FY23
FDI into manufacturing slows in first half of FY23
BUSINESS
Economic survey 2023: coal output to jump 17 percent, hit 911 mn tonne
Coal stock at power plants improved to 12 days as of December 2022, compared to eight days of stock a year ago.
BUSINESS
Economic Survey 2023: PLI scheme to attract Rs 3 lakh crore in five years
Has the potential to generate employment for over 60 lakh people.
BUSINESS
Electronics industry on song, says survey
Mobile phones, and consumer and industrial electronics, are the key drivers for the growth of this sector.
BUSINESS
Govt steps moderated pandemic impact on small businesses, says Survey
A bouquet of measures introduced by the government aided the resilience of the MSME sector, according to the Survey.
BUSINESS
Economic Survey 2023: Robust capital, infra goods production marks start of private investment cycle
Strong domestic consumption growth and investment revival are expected to keep industrial production humming, says the Survey.
BUSINESS
Economic Survey 2023 warns of export slowdown and supply chain disruptions due to Covid in China
Easing input cost pressures after a fall in international commodity prices portends well for company margins, per the survey.
POLITICS
MC Explains: The government-governor standoff in Tamil Nadu
Giving a go-by to conventions and established practices does not augur well for a friendly federal ecosystem.
BUSINESS
Shriram Finance in talks with ADB, AIIB to raise $250 mn in long-term debt funds: Executive Vice-Chairman Umesh Revankar
The money raised will be used to diversify the company’s liabilities, and boost growth, he said
TRENDS
CSK sets up subsidiary to nurture talent, get into other sports
CSK’s management is keen to see that the company gains critical mass by diversifying into an array of sports-related activities that would fetch a “steady stream of consistent income.”
TRENDS
Chennai December Music Festival 2022: What not to miss, and why it's the perfect platform to promote 'Destination Chennai'
Over 1,000 concerts (conservative estimate) are held during the season - which comprises the whole of December and a portion of January, the month of Margazhi, according to the Tamil calendar.
COMPANIES
The recovery in our business has been led by the rural market: Sundaram Home Finance MD Lakshminarayanan
Riding a growth wave in Tier-2 and -3 towns, Sundaram Home Finance has ventured into the small business loans segment, targeting chaiwalas, grocery shop owners, tailors and other small entrepreneurs.
BUSINESS
India Cements reports historic loss, MD assures the future is steady
The loss was primarily due to coal costs going from $60 to $300-plus. This affected the fuel cost directly, and indirectly, it pushed up the cost of packaging materials and the like.
BUSINESS
As interest costs rise, auto parts maker Wheels India cuts back capex by 25%
A fairly large chunk of the Rs. 150 crore in capex this year will be for a new machining plant in Thervoy Kandigai.
BUSINESS
India Cements’ sale of Springway Mining may be sign of failed bid to go national
The sale of the subsidiary may also signal that the company is reviewing its business plan for the long term
BUSINESS
TMB listing set to herald era of professional management at Nadar community-founded bank
Tamilnad Mercantile Bank is poised for a new phase after ownership squabbles marred its 10-decade existence
