The US slowdown, service tax on leased and rented premises and imposition of minimum alternate tax are expected to take a toll on the revenue and earnings growth rates of all frontline IT companies in 2007-08.
The appreciation of the rupee, the dividend distribution tax and the hangover of the minimum alternate tax on information technology companies under the Software Technology Parks of India scheme have pulled the prices of IT stocks down.
The market value of the losers declined by an average of 20 per cent, while that of the 45 per cent that gained rose by 35 per cent.
Curiously, it will not be far-fetched to state the contrary, that the global stock exchanges follow the Indian markets' cue
The parent companies, however, performed well on the profitability front, posting 30.93 per cent net profit growth compared to 22.6 per cent by their Indian subsidiaries.
Of the 125 sectors tracked by Business Standard Research Bureau, 62 sectors have lost ground, while 63 others have gained over the May 10 levels.
Riding high on profit growth, India Inc is doling out interim dividends like never before
Rs 1,066 crore capital investment of 41 entrepreneurs has grown to nearly Rs 90,000 crore.
The crorepatis are to be found principally in IT, pharmaceutical and engineering companies
143 million shares valued at Rs 11,000 crore are outstanding with these companies to be offered as stock options in the coming years
Sales of 80 companies climb 43%, operating profit margins up at 28%.
Infosys Technologies has done well by posting its third consecutive quarter with a double-digit growth in dollar terms and increase in operating margins by 0.6 per cent.
India Inc's share of the global public and additional offerings was unchanged at 2.30 per cent in 2006 with 125 Indian firms mopping up $12.97 billion.
The market valuation of Indian stocks is currently the second highest among emerging markets with the Sensex trading at a price-to-earnings multiple of 23.27 times
India Inc's order-book surged 80% to Rs 73,233 crore in 2006.
Data sourced from Bloomberg show that nearly 50 per cent of cross-border deals valued at $710 billion have not yet been completed.
The government owned oil companies have proposed to pay interim dividend for the financial year 2006-07
Market wealth worth Rs 1,06,838 crore (Rs 1,068.38 billion) was eroded on Monday as the 30-scrip BSE Sensex reported a record fall of 400 points in a single day, the highest in the last six months.
The Indian market on Tuesday displaced its South Korean counterpart to attain the fourth position in the market cap rankings for the Asia Pacific region, with a total market cap of $821 billion.
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