Liquidity crisis and slowing demand shows its effect. Cos are adopting cost cuts and slashing production to remain viable. How much did Billionaires lose? | Top biz families lose $131 bn
Yet another large deal has fallen through due to the ongoing credit crunch.
After a three-year bull run in prices, the current tight credit market and a slowing demand have led foreign buyers of Indian steel press for renegotiation of contracts to include current lower price levels.
KPMG, part of the Big Four, has seen 10 partners from its global network, shift their base to India to assist in cross-border deals.
The shareholding of the promoters of Hindalco Industries, a flagship company of the Aditya Birla group, is likely to increase by about 4.5%.
From interest rates of about 8% to 9% that were prevalent last year - rates at which lending was done for companies - to current rates of about 13%, the financial performance of most companies could be affected.
Apart from advancing efforts to increase its stake in Germany’s REpower to consolidate its position globally as the world’s fifth-largest wind turbine maker, Suzlon Energy has also been recruiting top executives from the industry.
Engineering sector feels it is all set to see a sharp increase in business contracts, thanks to the Nuclear Suppliers Group’s decision that has overturned a three-decade-long ban on India.
Reliance Retail, Birla Retail, Shoppers Stop keen on evaluating business structures with high-end cos. Mall Mania | Career in retail | How to fight when prices bite
Promoters are eager to sell out as they find themselves increasingly unable to grow their firms to the next level.
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