India Inc sitting on cash mountain

India Inc (excluding trading and financial services companies) was sitting on a cash mountain of Rs 456,700 crore as on September 30, up 21 per cent from the same time a year before. Adding back the investment of Rs 114,000 crore in liquid schemes of mutual funds, the total cash pile is Rs 570,700 crore, or 34.7 per cent of total debt. The figure has swelled partly through money raised through public offers and private placement, stake sale to strategic investors and unused cash generated through internal accrual (net profit) after making provision for ongoing capex plans.

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