The reason is obvious: Both the benchmark indices have almost doubled from their March 2009 levels. The reasons for the stake sales vary from meeting their company's working capital requirements to debt repayment. A few did so for business expansion.
India Inc is likely to post a whoping 63 per cent growth in net profit in the second quarter, thanks to four oil marketing companies which are expected to post a combined net profit of Rs 2,730 crore (Rs 27.30 billion) in the quarter ended September.
India Inc's order book has more than doubled to an all-time high of Rs 73,320 crore in the second quarter of the current financial year, compared to the first quarter.
The morning doesn't always show the day. After the early birds surprised many with their decent increase in net profits, a detailed analysis of the performance of 2,088 manufacturing and services sector companies (excluding banks and finance firms) shows that net profit has indeed gone up -- but only just.
From a single private firm with a Rs 1,000-crore (Rs 10 billion) net profit, there are 28 such companies now.
Operating margins improve, but sales still sluggish
It's actually a problem of plenty for investors now. Buoyed by the success of the three companies that sold their QIP issues within a day of opening, as many as 32 companies have joined the queue, hoping to raise a combined Rs 40,000 crore (Rs 400 billion).
In rupee terms, market capitalisation inches closer to GDP.
Besides coming back to power in the recent elections, the Congress-led United Progressive Alliance (UPA) government has more reasons to smile.
Number of people with net worth of at least Rs 100 crore at 475 now.
The 193 companies have proposed a dividend payout of Rs 16,764 crore (Rs 167.64 billion) for 2008-09 on a net profit of Rs 92,412 crore (Rs 924.12 billion) compared to Rs 15,328 crore (Rs 153.28 billion) paid on a net profit of Rs 84,790 crore (Rs 847.9 billion) earned in 2007-08.
Ripples of Indias largest corporate scam along with poor quarterly performance have made more than half of the actively traded companies on the Bombay Stock Exchange (BSE) opt not to disclose their fourth quarter un-audited results this month. Instead, they would announce only their annual audited results, before the end of June.
The net sales of these outperformers grew by 57.7 per cent, while their net profit rose by 69 per cent in the nine months of the current financial year over the same period of the previous year.
The poor performance of the corporate sector in the current financial year is reflected in the fact that the number of sectors posting net losses has more than doubled quarter-on-quarter -- from seven in the first quarter to 15 in second to 37 in the third quarter.
Foreign currency convertible bonds (FCCBs) are proving to be a double-edged sword with large premiums simply vanishing on account of bear markets and the ghost of redemption at yield-to-maturity (YTM) hanging on.
As many as 2,431 firms in manufacturing and services sectors post their biggest-ever net profit decline of 42.45 per cent.
The slump in corporate earnings has affected interim payouts, with only 95 firms declaring interim dividends in the first nine months of this financial year compared with 144 in the corresponding period last year.
There are very few takers for B Ramalinga Raju's astounding claim that the margin earned by Satyam in the quarter ended September 2008 was just 3 per cent, and not 24 per cent as reported in the results.
The Oct-Dec show is the worst in the last eight quarters. On sequential basis, orders have declined by a record 36 per cent.
Once criticised as inhibitory, India's strict regulatory norms have protected local banks from the global financial tsunami.
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