Wipro will announce its FY03 results on April 17, the company said in a release to the Bombay Stock Exchange on Tuesday.
Hexaware Technologies Ltd has posted a substantial jump in its consolidated net profit at Rs 32.88 crore for the year ended December 31, 2003 as against Rs 5.75 crore in the last fiscal.
GTL Ltd has posted a consolidated net profit of Rs 80.26 crore for full year ended March 31, 2003, compared to Rs 109.42 crore registered during the previous year.
Growth in corporate profits needs to be commensurate with wages to boost the economy, Economic Survey 2024-25 said, noting that sharp disparities between the two pose risk to the economy by curbing demand. The document tabled in Parliament on Friday noted that while the labour share of GVA (gross value added) shows a slight uptick, the disproportionate rise in corporate profitsredominantly among large firmsaises concerns about income inequality.
The production of major agricultural crops is likely to drop by 12 per cent for 2002-03, reflecting an adverse impact of poor monsoon, according to the Centre for Monitoring Indian Economy.\n\n\n\n
Pharma major Wockhardt Ltd's consolidated net profit increased 35.6 per cent to Rs 142.5 crore (Rs 1.42 billion) for financial year ended December 2003
HCL Infosystems has reported a 33.81 per cent increase in net profit at Rs 61.73 crore (Rs 617.3 million) the year ended June 30, 2003 when compared with Rs 46.13 crore (Rs 461.3 million) in FY02.
The Centre's Direct Tax collection was up by 20.39 per cent at Rs 82,071 crore (Rs 820.71 billion) during 2002-03 compared to Rs 68,170 crore (Rs 681.7 billion) mopped up in 2001-02.
The finance ministry on Friday ratified the interest rate of 9.5 per cent for about 4 crore subscribers of Employees Provident Fund for 2002-03 and 2003-04.
State-owned Mahanagar Telephone Nigam Ltd has reported a dip in net profit to Rs 877.1 crore (Rs 8.771 billion) for the year ended March 31, 2003 as against Rs 1300.6 crore (Rs 13.006 billion) in the previous year.
IBP & Co Ltd, a subsidiary of Indian Oil Corporation, will invest Rs 350 crore (Rs 3.5 billion) in the current financial year to augment retailing strength of the oil marketing PSU.
Scheduled commercial banks have registered a 21.2 per cent growth in credit offtake at Rs 7,14,622 crore (Rs 7.14 trillion) up to March seven of 2002-03 as against Rs 5,89,723 crore (Rs 5.89 trillion) in FY-02.\n\n\n\n
The government on Thursday said the information technology industry received capital investment worth Rs 2,990 crore (Rs 29.90 billion) in 2002-03, out of which Rs 1,450 crore (Rs 14.50 billion) was foreign capital.
Petro retailer IBP Co Ltd will set up 500 petrol stations during the current fiscal to take its retail strength past 2600, the company's general manager (marketing) K D Makhija said on Wednesday.
Cut throat competition between public sector units and private companies may push up general insurance business by over 25 per cent to Rs 15,000 crore this fiscal.
Indian equity markets have a limited upside potential in the near-term as they negotiate the ensuing cyclical slowdown, wrote analysts at Nomura in a recent coauthored report led by Saion Mukherjee, their managing director and head of equity research for India. He, however, believes that the foundations are in place for sustainable growth over the medium-to-long term, and hence suggests a 'buy on dips' strategy to equity investors. As an investment strategy, Nomura prefers domestic-oriented sectors and companies over exporters, and prefers stocks that provide valuation comfort. Industrials and banks are their overweight sectors, while IT services and consumer discretionary are their underweight sectors.
Punjab National Bank's net profit for last fiscal emerged higher at Rs 1,139.77 crore after it adopted the stringent accounting principle of the United States as against Rs 939.57 crore recorded as per the Indian standards.
The state-owned Hindustan Petroleum Corporation Ltd has posted a 95 per cent increase in the net profit at Rs 1537.36 crore (Rs 15.37 billion) for the financial year ended March 31, 2003 as against Rs 787.98 crore (Rs 7.88 billion) in 2001-02.
If that happens, India's economic size will be just shy of $20 trillion and its annual per capita income will be about $10,000, when the country celebrates its centenary of independence.
For Indian equities, this will a good stabilising hedge against the speculative investor breed, which is largely dominant in Indian equity markets.
In fact, India's investment activity growth is also estimated to touch a 17-year low in FY20. With overall demand not showing signs of revival, investment activity may take longer to recover, economists said.
HDFC and HDFC Bank's merger - touted as India's biggest-ever corporate merger - pumped up shares of the two entities on the bourses. Shares of Housing Finance Development Corporation (HDFC) skyrocketed 9 per cent while those of HDFC Bank zoomed 10 per cent. In comparison, the benchmark S&P BSESensex and the Nifty50 indices settled 2.2 per cent higher on Monday.
Indian software companies have a huge potential to grow. And investors are likely to reap advantages of the same.
Having crossed $1 billion mark in revenues through 20 per cent growth in 2002-03, software major Tata Consultancy Services is targeting a growth rate of over 17 per cent during current fiscal.
Marico Industries' net profit reported an eight per cent increase to Rs 53.08 crore for the year ended March 31, 2003 as against Rs 49.32 crore in FY02.
According to the company, it has provisioned for these losses from FY03 and made the final provision during FY07.
International rating agency Fitch said on Wednesday taht it expects to see increased investor interest in the Indian steel industry with steady balance sheet correction - a major issue confronting the sector.
Needed: Speedy implementation of infrastructure related projects and liberalisation of private sector participation in the infrastructure sector.
Propelled by foreign investment inflows, India's foreign exchange reserves grew by $26.4 billion for the nine-month period ended December 31, 2003, over a rise of $16.3 billion in the corresponding period of previous fiscal.
The industry wants higher FDI in the telecom sector.
Demand for money from infrastructure-related sectors like power, roads, electricity and telecom has witnessed a faster rise.
Progeon has generated revenues of Rs 20.85 crore in the fourth quarter, a company release said on Thursday. It also added one client in the fourth quarter.
The environment looks conducive for growth for corporate India and thus we believe that equities would continue to deliver decent returns over the long term. \n\n
TCS, based on its annualised 9mFY04 earnings, has an EPS of Rs 31.9.
Grasim Industries has reported a 24 per cent increase in net profit at Rs 130.49 crore (Rs 1.3 billion) for the quarter ended June 30, 2003 when compared with Rs 105.47 crore (Rs 1.05 billion) in Q1FY03.
The main concern area, in the medium term, is with regard to the de-regulation of the gas prices and the consequent impact on the same on Indo Gulf's margins.
Riding on the back of easy availability of finance schemes and improved macro economic indicators, the segment has grown by a strong 16 per cent and further strengthened its position in the overall two-wheeler market pie.
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