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For TCS, the retail business has been growing at 10-12 per cent over the last three quarters. On a year-on-year basis, the growth rate of the retail business has been impacted due to currency fluctuation and the general slowdown. In dollar terms, the retail business grew 51.6 per cent for the company last financial year.
Sources said that this is a contingency plan, in the event of an exit of the present heads of its two subsidiaries ICICI Prudential and ICICI Ventures. At present, Shikha Sharma is managing director & chief executive officer (CEO) of ICICI Prudential Life Insurance, while Renuka Ramanathan is managing director and CEO of ICICI Ventures.
Capgemini has gone back on its previous expectations of modest growth in the first half of 2009, following a significant deterioration in the wider economic environment since the third quarter, said John O'Brien, senior analyst at advisory and consulting firm Ovum. Capgemini now expects to see a modest decline in the first-half sales, while maintaining an operating margin of 6.5 per cent.
Tata Consultancy Services, the country's largest IT company, has changed its hiring strategy and will focus on just-in-time hiring or real-time talent management."TCS has decided to adopt the policy of real-time management whereby we will hire in the last three months of the final year of graduation rather than a year before," said S Ramadorai, managing director and chief executive officer, TCS.
Meanwhile, 117 Pan-Asian private equity players - with India as focus -- aim to raise funds worth $59 billion, says UK-based Preqin, an alternative assets research and consultancy group. On a global platform, he said, majority of investors remain positive towards private equity. Aditya Birla Private Equity is an example.
Valuations of projects dated, says valuer. Also, angry shareholders could come together to oppose the proposed reverse merger.
While the fall in rates is certainly a good signal, is it a great idea to take a loan to purchase a home or car? Most experts felt that this may not be the right time to do so.
Information technology firms, which are already in trouble due to the slowdown in their key markets, are now facing payment delays. Many firms said collections cycles (receivables) are getting extended.
Most mutual fund players and life insurance companies are planning to bid for appointment as pension fund managers for all citizens after the Pension Fund Regulatory and Development Authority (PFRDA) today decided to seek expression of interest from prospective fund managers.
With a sharp dip in property prices, leading banks, including State Bank of India, are reassessing the value of properties against which loans have been granted.Sources familiar with the developments said that banks are worried that the recent fall could impact their risk valuation, if asset prices continue to fall.Banks are now worried that if rates fall further buyers may lose interest in the property, especially if they are not living in it.
Data from Value Research, a Delhi-based fund tracking firm, show that the category average returns from equity-diversified funds have been 14.5 per cent a year over this period. Banking funds, which invest in banking and other financial sector companies, have given returns of 23.66 per cent.
The category average returns from equity-diversified funds has been 14.5 per cent a year over this period. Banking funds, which invest in banking and other financial sector companies, have given returns of 23.66 per cent. Other categories that have done well are fast moving consumer goods, tax planning and hybrid (equity-oriented) funds.
Venture capitals in India, which traditionally invested in urban segments or technology sector, have begun investing in rural-centric technology firms. Avishkaar India Micro Venture Capital Fund, Acumen Fund, and Rural Innovations Network are showing increased focus on rural markets.
On the back of a global meltdown, big-ticket firms may not be flocking at the premier Indian Institute of Technology campuses. IITians, however, have not lost all hope. Many are looking at start-ups for their first jobs.
The proposal to scrap 'indicative portfolios' has arisen because investors have sometimes found deviations of as much as 80 per cent between the indicative and actual portfolios. In some cases, the entire corpus has been invested in a single instrument. Sebi will also consider Amfi's suggestion of a 3 to 6 per cent exit load for FMPs, a minimum tenure of three months and a faster processing of redemption payouts,
Ben Verwaayen, CEO, Alcatel-Lucent, does not consider India as a low-cost destination. Rather he does not like to use the word offshore in the context of India. "If it is just about cost then I would not have been in India but to some other low-cost country. For me, India is a high talent country," he adds. As the person who was heading British Telecom's operations before taking over Alcatel-Lucent, he has pushed over a billion dollar of outsourcing work to India.
The IT industry, which has already taken a hit of more than Rs 500 crore in the second quarter because of the appreciating dollar against the rupee, will now be hit by adverse cross-currency movements even as they attempt to boost the share of revenue from the UK and the Eurozone. Unfortunately, the hit will be despite attempts by software makers to step up hedging in the pound and the euro. The IT industry earns about 60 per cent of its revenue from the US.
Sebi likely to come out with a policy paper soon.
Industry insiders as well as sector experts said that companies are unlikely to miss this opportunity to rationalise bloated boom-time salaries.
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