Analysts and the media have near-unanimously approved the latest monetary policy update of the Reserve Bank of India which has left key interest rates unchanged, while indicating that its accommodative stance will continue until recovery becomes more robust. But it is possible to question whether this halfway house is the right place to be in right now.
The first quarter of the financial year 2009-10 was exceptional for Wipro's consumer care business. Santoor, its flagship soap brand, which contributed close to Rs 850 crore in 2008-09 to the company's coffers, became the number one brand in South India in its category.
The signal is that it is willing, but it is a bit open if it will be able to.
The company, which closed last fiscal with a top line of close to Rs 3,500 crore (Rs 35 billion), is expected to play in the ready-to-drink flavoured milk market targeted at youth, instead of the mass packaged milk segment. Britannia declined to comment in this regard. Industry estimates indicate this market is valued at close to Rs 750 crore (Rs 7.5 billion).
Climate change is not something only 'they' have to worry about because it is 'their' creation, says Subir Roy.
"The entry of other players in this segment will help in reiterating the benefits of the cash-and-carry concept to Indian customers," Metro India Managing Director Martin Dlouhy says. It may be the first time anywhere in the world that Wal-Mart and Metro square off in the cash & carry format. Dlouhy's apparent nonchalance can't hide the fact that Metro may be facing one of its most difficult challenges in the country.
Kingfisher Airlines is looking to roll over close to Rs 800 crore of its short-term debt, even as it finalises the paperwork to borrow another Rs 1,500 crore from a few Indian public sector banks.
What does India need to do to realise the full potential that information technology and outsourced business services?
In 2009, when urban India was in the throes of a slowdown, with growth likely down to 6 per cent and shopping malls going empty, the electorate gave a clear thumbs up.
IT-BPO exports grew at a compound annual rate of 31.6 per cent in the boom years 2004-08. But the rate fell to 16 per cent last year (2008-09) and is likely to be in single digit in the current year.
Like so many other MNCs, it is targeting emerging markets, of which India represents a major chunk, as a critical growth area. But India is also rapidly becoming a key geography where some of the innovative products to address the market at the bottom of the pyramid are being developed.
Bangalore-based Ittiam Systems, which is in the digital signal processing space, is a case in point. Its business model is royalty-driven. It creates intellectual property by way of software and hardware designs, which are used by original equipment manufacturers in areas like mobile internet devices, IP-based networks, video security systems and medical screening.
Redevco, one of Europe's largest real estate investment and development firms, with a $10 billion portfolio, is understood to be looking at investing around Rs 300 crore in various projects of Bangalore-based Sobha Developers.
The bank credit figures for 2008-09 (lowest overall credit and commercial credit growth in five years) provide further evidence, if any was needed, that a credit crunch lies at the heart of the severe slowdown that continues to beset the economy.
What is the future of the industry, is it likely to regain its premium status once the global recession is over and what do the leaders like TCS, Infosys, Wipro and HCL have to do in order to regain their past glory, asks Subir Roy?
The big question being posed is if you need to pay fancy salaries and bonuses to attract the best and the brightest to the financial services. Does the sector need that much of innovation, in relation to the needs of other sectors?
The present offer is a third of Homeland Mining's initial valuation. GMR Energy, a part of GMR Infrastructure, had valued this coal mining firm at $310 million when it acquired a small stake in April 2008. "In our due diligence, we have found out that we had valued this firm much higher based on various factors such as how many layers one has to mine to access the worthwhile coal," a GMR Group official said.
Given its emerging economic size and stock of soft resources, India is a laggard when it comes to innovation.
The JV TACO Sasken Automotive Electronics has been called off and over 100 people working for the JV have been asked to quit. In January 2007, Sasken and Tata AutoComp Systems had formed the JV with a focus on automotive electronics products in the areas of telematics, infotainment and occupant convenience. However sources say that even two years after its formation, the JV could hardly make any progress.
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