Base revisions are technical exercises, but history shows they can significantly reshape the narrative around India's growth performance.
The Securities and Exchange Board of India (Sebi) has barred Dewan Housing Finance Corporation Ltd's (DHFL) former promoters Kapil and Dheeraj Wadhawan for five years from the securities market for alleged diversion of funds. They have also been barred from holding any key position in a listed company.
Tata Consultancy Services (TCS), the country's largest player in information-technology (IT) export, has seen a sharp decline in its contribution to the Tata group's market capitalisation in recent years though it remains the most valuable company in the conglomerate. Its 44.8 per cent share in the combined market capitalisation of the listed Tata group companies is the lowest since March 2009 and is down sharply from the all-time high contribution of 74.4 per cent at the end of March 2020.
Gold prices could hit the $3500 an ounce (oz) mark in the next 18 months - up around 13 per cent from the current levels - given the global uncertainties and aided by investment demand, said analysts at BofA Securities in a recent note. Uncertainty around Trump Administration trade policies, BofA said, could continue to push the US dollar (USD) lower, further supporting gold prices near-term.
India's exports grew by 22.9 per cent in FY'08, marginally higher than a 22.6 per cent growth registered in the previous fiscal, the Reserve Bank said.
Foreign investments in India almost tripled in FY' 08 than the capital it received during the same period in last fiscal, the National Council of Applied Economic Research said. The country maintained the trend of attracting funds that also boosted its forex reserves, it added.
Software exports are expected to register a growth of 33 per cent in terms of dollar and 23 per cent in terms of rupee in the current financial year, according to an estimate by the Electronics and Computer Software Export Promotion Council (ESC). In absolute terms, exports during FY08 will workout to $45 billion (Rs 180,000 crore).
With $1 trillion worth of opportunity knocking at its doors, the Indian auto industry with its low cost manpower and homegrown IT advantage is all set to grow its revenues to $5 bn by FY08
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 Indian economy is projected to have grown at a slower pace in 2007-08, as data released today showed industrial production growth during the year moderated considerably over the previous year. The advance estimates for national income for 2007-08 had pegged the growth of gross domestic product at 8.7 per cent. Economists now expect it to be a notch lower.
According to an analysis by Value Research, the 'diversified equity' schemes that are most popular among investors lost an average of 28.3% in the past three months period. Although there were losses in the January-March period, there were huge positive returns in the previous three quarters. Funds in the diversified equity category gained an average of 21.4% over the four quarters in FY 2007-08, with individual schemes returns ranging from a gain of 53.7% to a loss of 7.9%.
In FY23, Indian operations accounted for 41.6 per cent of the consolidated revenue of India's top five multinationals, up from 34 per cent in FY18 and 33.2 per cent and 34.2 per cent in FY21.
The Indian economy is expected to have grown at 9.08 per cent in 2007-08, as against 9 per cent reported earlier, Finance Minister P Chidambaram told Parliament on Tuesday even as the UPA government won the trust vote in the Lok Sabha to remain in power.
The use of electronic channels, including credit cards, to make payments for various transactions, including shopping is growing at a fast clip in India. The value of total electronic payments (e-payments) showed an almost four-fold growth to cross the Rs 10,00,000 crore (Rs 10,0000 billion)-mark at the end of March 2008.
"GDP at factor cost at constant (1999-2000) prices in the year 2007-08 is likely to attain a level of Rs 31,14,452 crore (Rs 31,144.52 billion) as against Rs 28,64,310 crore (Rs 28,643.1 billion) in 2006-07," according to the advance estimates of national income released by the government on Thursday.
The structure of Suzlon's takeover of REpower significantly lessens the financial implications, though the FY08 earnings may still take a hit.
India's textile exports for the year 2007-08 stood at $20.5 billion, falling short of the target set by the government. The government had set a target of $25 billion export target for the textile sector.
"Exports of $150 billion are certain this year. If there is a surge, they could even go up to $155 billion," Commerce Secretary GK Pillai told reporters on the sidelines of a CII meeting on Foreign Trade Policy.
According to analysts, the first two quarters are usually dull for the company historically, hence growth will be higher in the subsequent two quarters. If Wipro Infotech achieves the $1 billion mark, it would make Wipro the first Indian company to touch the figure through its largely domestic market-focussed arm. It derives about 90 per cent of its revenue from India.
The National Council of Applied Economic Research, which had forecast the country's economy to grow by 8.5 per cent in 2007-08, has raised projection to 8.9 per cent on improved performance of agriculture and services sectors.In case of industry, although the investment climate continues to be strong, the slower growth of exports may be a dampening factor, but retained the growth in industrial sector unchanged at 9%.
RBI has retained the GDP forecast at 8.5 per cent for 2007-08; inflation kept close to 5 per cent this year.
Buoyed by tremendous consumer response and with banking on its huge roll-out plan, Anil Dhirubhai Ambani Group's brokerage and distribution arm Reliance Money expects to break-even by the end of the current fiscal.
The personal computer market is set to grow by 22 per cent in this financial year and may record sales of 6.5 million units.
Software major Infosys Technologies on Tuesday announced a consolidated net profit of Rs 4,659 crore (Rs 46.59 billion) for the year ended March 31, a 20.82 per cent growth over the corresponding period a year ago. Infosys had a consolidated net profit of Rs 3,856 crore (Rs 38.56 billion) for the year ended March 31, 2007, the second-largest exporter of software services said in a filing to the BSE.
According to NCAER quarterly review for 2007-08, the high inflationary expectation stems from surging prices of crude oil and hardening metal prices and high economic growth which it forecast at 8.53 per cent for the current fiscal.
It was August 2007. Tata Steel was turning 100. Jamshedpur, its hometown, had an air of celebration. The line-up for the special event included the launch of Air Deccan's commercial flight connecting Kolkata and Jamshedpur, and release of Russi Lala's new book, Romance of Tata Steel. There was also the screening of The Spirit of Steel, a 20-minute documentary directed by Zafar Hai showcasing Tata Steel's legacy, and a corporate anthem penned by Javed Akhtar and composed by Shankar, Ehsaan and Loy.
Airlines in India have suffered a staggering loss of Rs 4,000 crore (Rs 40 billion) in 2007-08, and it could double in the current fiscal depending on which way fuel prices are headed, Civil Aviation Secretary Ashok Chawla said.
Tata Consultancy Services on Monday announced a consolidated net profit of Rs 5,026.02 crore (Rs 50.26 billion) for the year ended March 31, 2008, an increase of 19.3 per cent as compared to the corresponding period a year-ago.The total income of the group stood at Rs 23,349.45 crore (Rs 233.49 billion) for the year ended March 31, 2008, compared to Rs 18,914.26 crore (Rs 189.14 billion) for the corresponding period a last year.
The mobile value added services are poised to grow by over 65 per cent to touch Rs 8,200 crore (Rs 82 billion) by the end of this fiscal from Rs 4,950 crore (Rs 49.50 billion) in the last fiscal, according to an estimate by industry body Assocham.
The use of information technology across all hierarchies of an organisation not only increased but also became more sophisticated in the last one year, according to the observations made by a survey.
Economic think-tank National Council of Applied Economic Research expects India's Gross Domestic Product growth to decelerate to 8.3 per cent during current fiscal
Listed companies' net profit as a percentage of gross domestic product (GDP) has hit a decadal high and is expected to edge even higher over the next two financial years. According to an analysis by ICICI Securities, India's Inc net profit stood at Rs 8.4 trillion, or 4 per cent of GDP of Rs 210 trillion for the trailing 12-month period ending September. This is the highest since financial year 2011-12 (FY12), when it was at 4.6 per cent.
Corporate indebtedness is now twice what it was before the global financial crisis; banks' bad loans ratio is 3.5 times higher.
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.
Its total income, as per Indian GAAP, for Q1FY08 surged 54% to Rs 5,873.52 crore (Rs 58.735 billion) from Rs 3,815.49 crore (Rs 38.154 billion) in Q1FY07.
Indians face COVID-19 with record debt, stalled income.
Profitability and cash reserves have halved since the global financial crisis.
Gross domestic savings as a proportion to GDP fell from a high of 36.8 per cent in FY08 to 30.8 per cent in FY13, according to the Reserve Bank.
Overall, Tata Steel becomes the seventh non-financial firm, including four oil PSUs to report quarterly revenues of Rs 50,000 crore.
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