Historically, Indian stocks trade at earnings multiple of 17-18 times. At current prices, the earnings multiple for the Sensex is 26 times.
Interested parties are concerned about the possibility of 24 domestic banks and six financial institutions converting to equity Rs 1,480 crore worth of zero-coupon debentures to which they subscribed in 2002-03.
Analysts expect that Bharti Airtel, Reliance Communications (RCom) and Idea Cellular will post over 50 per cent annual growth in revenues (year-on-year) and more than 10 per cent sequential growth (over the previous quarter). Bharti continues to lead in the subscriber addition race (2.1 million in August).
Analysts at stock broking houses Motilal Oswal, Religare Securities, IL&FS Investsmart and Sharekhan say that while Maruti Udyog is doing well, the other biggies Tata Motors and Mahindra & Mahindra would have weak single-digit performances that could lead to a decline in net profit.
Global liquidity, which dried up after the turbulence in the US credit markets, has returned big time following the Fed rate cut of 50 basis points on September 18. In the secondary markets alone, FIIs have pumped in over $4.5 billion in about 11 trading sessions, data from the BSE show.
Four L&T executives, 2 from RIL and 1 from Tech Mahindra own over Rs 100 crore (Rs 1 billion) each in stock options.
Sectors that are insulated from the sub-prime mortgage crisis unfolding in the US are the heavyweights in Indian stock indices. In comparison, sectors like information technology and pharmaceuticals, which depend a lot on the US market, carry less we
However, the income profile shows a classical pyramid-shaped society with only 600,000 households earning above Rs 18 lakh per annum, according to the Mr and Mrs India survey by brokerage firm CLSA Asia Pacific Markets.
The Securities and Exchange Board of India is set to introduce new norms to ensure higher public participation for delisting of company shares.
The seven-day non-stop rally has recouped 75 per cent of the market capitalisation eroded during the preceding free fall as seven in every 10 stocks traded on the Bombay Stock Exchange staged a recovery (BSE).
IT-BPO firms offer end-to-end mortgage origination services and manage servicing activities.
Motilal Oswal and Raamdeo Agrawal, the promoters of leading brokerage house Motilal Oswal Financial Services, will be worth Rs 700-800 crore (Rs 7-8 billion) each, after the company's initial public offer later this month.
World's largest exchange, the New York Stock Exchange is wooing India's showpiece IT firm Infosys Technologies to list its shares on its trading platform.
At a time when software companies were reporting disappointing results on account of this, an unperturbed Chatterjee said Tata Steel would reap significant benefits from the new exchange rate, which would be disclosed with its results.
Under the proposed rules, mutual funds may not be allowed to borrow more than 20 per cent of the net assets of a scheme and the duration of such borrowing would not exceed six months.
The revenue growth rate for Tata Consultancy Services and Infosys Technologies has declined by over 20 percentage points to about 25 per cent from over 45 per cent in the quarter ended June 2006.
This year so far, as many as nine of 50 issues did not see their retail portion fully subscribed.
Analysts say that retail offers a big opportunity and acquisitions are a way to grow rapidly; there is also the need to deploy this money gainfully.
The study predicts that the Sensex companies are expected to show marginal 6 per cent growth in profit, while the growth for the oil companies is likely to be higher at 23.4 per cent.
The New York Stock Exchange has stolen a march over its rival Nasdaq in India.
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