Business Today 26 May 2024

The relationship between employers and employees has undergone a major shift since the pandemic. With massive disruptions across workplaces the world over, both employees and their employers had to go back to the drawing board to work out the new dynamics of their equation. Consequently, work-from-home, hybrid work and the like became terms which came to be a part of HR jargon in a changed, post-pandemic world. That equation has undergone further alterations as companies seek to nurture and retain the best talent in an uncertain and increasingly challenging business environment. This is also borne out by the India findings of the latest ‘Randstad Workmonitor: The Voice of Talent in 2024’ report, which demonstrates how preferences of the workforce have further changed from just wanting flexibility at work and a…

NOTE: Rainfall <90% of LPA: Deficient; 90-95%: Below Normal; 96-104%: Normal; 105-110%: Above Normal; and >110%: Excess Rainfall SOURCE: CMIE ECONOMIC OUTLOOK, IMD 106% Of the long-period average (LPA) rainfall the country is expected to receive this monsoon, IMD forecasts 31% The probability of occurrence of above-normal rainfall this monsoon season compared to a likelihood of 30% excess rainfall, and 29% normal rainfall 15.1% Decline (year-on-year) in live storage of water in India’s 150 key reservoirs—to 64.6 billion cubic metres (BCM) in March 2024 from 76.1 BCM a year ago…

HEFTY WALLETS THE AVERAGE CEO COMPENSATION IN INDIA HAS INCREASED TO ₹13.8 CRORE, NEARLY 40% HIGHER THAN THE PRE-PANDEMIC YEAR OF 2020 *WITH LONG-TERM INCENTIVES, MOSTLY PAID THROUGH SHARE-LINKED INCENTIVES; FIGURES IN BRACKETS INDICATE CAGR  SOURCE DELOITTE INDIA EXECUTIVE PERFORMANCE AND REWARDS SURVEY 2024 NOTE DELOITTE INDIA EXECUTIVE PERFORMANCE AND REWARDS SURVEY 2024, WHICH FOCUSSED ON B2B COMPANIES EXCLUDING PSUs, THE SURVEY COVERED 400+ INDIAN FIRMS (MOST OF THEM WITH A TURNOVER OF ₹1,000+ CRORE) ACROSS SECTORS 45% OF S&P BSE 200 COMPANIES, EXCLUDING PSUs, HAVE WITNESSED A CHANGE IN CEO OVER THE PAST 5 YEARS 75% OF CEOs IN THE COUNTRY ARE PROFESSIONALS OR NON-PROMOTERS CORNER OFFICE PERKS OVER THE PAST FOUR YEARS, THE NUMBER OF EXECUTIVES EARNING MORE THAN ₹20 CRORE HAS DOUBLED IN THE COUNTRY NOTE SALARY…

BUSINESSES IN INDIA are treading cautiously as they navigate through an uncertain summer, grappling with ongoing geopolitical tensions, muted rural demand, and a pause on policy decisions and investments due to the General Elections. So even as the growth predictions for the economy remain around 7% for this fiscal (FY25), the record-breaking performance of the equity markets and India Inc.’s confidence seem to have abated to some extent, at least for the time being. This is evident in the BT-C Fore Business Confidence Survey of 500 chief executive officers (CEOs) and chief financial officers (CFOs) for the January to March 2024 quarter, which dipped marginally from a record high in the October-December 2023 quarter. The Business Confidence Index (BCI) dipped to 54.3 in the January-March 2024 quarter from 56.5 in…

THE FOURTH QUARTER of FY24 has brought happy tidings for India Inc. A calculation of the results declared till May 6 shows that consolidated net profit rose 30% year-on-year (YoY) in Q4FY24, against a 4% rise in the year-ago period. The top line witnessed a rise of 14% YoY to ₹8.8 lakh crore. A total of 28 companies in the Nifty 50 index had reported their results in Q4FY24 till May 6. While some of them showed resilience and growth, others grappled with challenges stemming from economic uncertainties and shifting consumer behaviour. Let us take a closer look at the sectors. The IT sector reported a mixed set of results. While TCS and Infosys posted 9.14% and 30% YoY growth, respectively, in consolidated net profit, to ₹12,434 crore and ₹7,969…

FAMILY SETTLEMENTS CAN often be complicated, especially when business is involved. In the case of the 127-year-old conglomerate Godrej Group, it took over four years to conclude. As part of the agreement, the group has been split vertically into two entities: Godrej Industries Group (GIG) and Godrej Enterprises Group (GEG). Adi Godrej and his younger brother Nadir get the newly formed GIG, which will house five listed companies—Godrej Industries, Godrej Properties, Godrej Consumer Products, Godrej Agrovet, and Astec Lifesciences. Nadir Godrej will be its Chairperson. GODREJ & BOYCE AND GODREJ PROPERTIES WILL CONTINUE THEIR MOUs FOR DEVELOPING THE LAND PARCEL IN MUMBAI The other set of businesses will come under GEG, which will have the unlisted Godrej & Boyce, its affiliates, and a vast land bank in central Mumbai’s Vikhroli.…