The top line is in trouble, but lower prices of inputs have helped companies salvage profitability. That's not helping their bottom lines though - net profits have slipped sharply.
Even as retail consultants continue to roll out the slide about the bright prospects for modern trade, on the ground, sales are sliding
Not all companies are generous with numbers these days - they're willing to share details of their core operations, but many of them are reluctant to let shareholders get even a glimpse of newer ventures
FMCG moves fast, while real estate yields ground and metals lose their lustre. The star of 2008 so far has been Hindustan Unilever; the multinational FMCG player has actually gained 20.45 per cent between January 1, 2008 and December 24, 2008.
Pradip Shah, managing director, IndOcean, feels that although gold has done reasonably well, it doesn't really create too much value in the long run.
The Citi deal should help Wipro beef up its presence in the banking and financial services (BFSI) space. The target company does work in the technology infrastructure services space as also application development and maintenance and the Rs 19,957 crore (Rs 199.57 billion) Wipro should be able to leverage these services with other clients. The assured revenues of $500 million will come in handy at a difficult time.
In an economic downturn such as this, when the markets have crashed, there are many more Satyams which are vulnerable to hostile takeovers because the promoters do not have a controlling stake. Such promoters will be tempted to take cash out of their companies and park it elsewhere.
By entering into related-party deals without shareholder approval, the firm has done irreparable damage to India Inc's reputation. Minority shareholders of Satyam Computer have every reason to feel short-changed. Without so much as by your leave, the management has decided to enter into related party transactions using the company balance sheet.
Over the last weekend, the central bank has tried to address the biggest near-term concern for property companies --bankruptcy -- says a CLSA report. The one-time move, which will allow banks not to classify commercial real estate loans as non-performing loans, will reduce the near-term risks for some property firms.
But industry needs to take up the issue at the highest level, business groups need to set aside their differences and work together, inconceivable as the idea may seem. It would be a pity if the corporate sector were to keep quiet this time.
Fem Care is a good addition to the portfolio because Dabur didn't have a presence in the skin care space. What Fem Care brings to the table is a strong product portfolio -- comprising bleaches, hair removing creams and liquid soaps -- which is complementary to Dabur's Gulabari skin-care range.
Obviously, with the larger corporations in a bit of a spot, ancillaries and vendors are feeling the pinch; others too are finding the going tough. Over the past five years financial leverage helped earnings; it will now work the other way, says Shobhana Subramanian.
Such is her faith in ICICI Bank, its joint MD continues to invest all her savings in the bank's stock and remains unfazed by the hammering it has taken.
Even big public sector investors such as LIC that have very large stakes in companies haven't been known to voice their concerns. If institutions came together to air their grievances in public; that would put more pressure on managements to make more disclosures and do things the right way, says Shobhana Subramaniam.
One was a journalist, the other was trying to make a career out of theatre and quizzing. Siddhartha Basu and Anita Kaul Basu are entrepreneurs, who redefined television viewing in India.
Indian companies have done stunning acquisitions in the recent past. It was widely expected that with their frugal managerial practices, they would soon be able to recover the money spent in these acquisitions. While it has worked in several cases, in some cases it hasn't.
With the US economy in a downturn, it could be a while before the Jaguar and Land Rover business turns around. For the first half of 2008, JLR has posted losses of $383 million on sales of $ 7.07 billion, a disclosure that saw the Tata Motors stock fall 5 per cent on September 23.
The company, distributed lower volumes of petrochemicals but that was made up with price increases. It was the same for LPG where realisations improved by about 40 per cent on account of higher prices but volumes fell marginally.
A sample of 1,248 companies saw net sales rise a whopping 39 per cent in the quarter ended June 2008 over that a year ago, as compared to 28 per cent in the quarter ending March 2008 and 16 per cent for the quarter ending December 2007.
A choppy beginning followed by flashes of good work. Strong pedigree, yet lagging behind peers. That could be actor Abhishek Bachchan or the mobile phone service he endorses, Idea Cellular. The analogy goes further. Just like Amitabh decided to step in and shore up his son's career, Idea's parent, AV Birla Group, has taken the cellular services provider by the scruff in a bid to make it one of the top three in the business.
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