Analysts have sharply reduced cigarette maker ITC's earning estimates for the next two years, fearing a significant dent in the company's profitability and margins. This is owing to a steep hike in excise duty on tobacco by the government.
Major fund houses report a sharp rise in online transactions, driven by changing investor habits, distributor behaviour, and fast-growing fintech platforms.
The time taken by the income-tax department to process refunds has dropped sharply from 93 days in 2013.
Between FY09 and FY25, 101 IAF fighter jets have crashed, costing the lives of 28 pilots.
According to Knight Frank Research, 1.07 million sq ft of office space was transacted in Q4 FY13, thus showing a fall of 11 per cent compared to the same quarter last year.
Quarterly revenues may be volatile, as spending will be driven by the global macroeconomic situation
Brokerage house Nomura today said the downward revision of FY'13 growth figure by the Central Statistics Office will have a positive base effect for GDP expansion in the current fiscal.
First, TCS is on track to grow faster than the industry's estimated 11-14 per cent growth (in constant currency). The second quarter has seen no major shift in demand or project cancellations, which were big concerns.
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.
The investment banking major has hiked its FY'14 CAD forecast to 4.3 per cent of GDP from 3.8 per cent with slowing global recovery likely to delay export turnaround.
The finance ministry said the sharp inflows last fiscal were due to the government's policy initiatives and economic recovery.
Cement manufacturers have hiked prices after a challenging Q1FY25, and Q2FY25 (so far) when general elections and seasonal factors cut down on construction activity. The August prices are currently around 3-6 per cent above July 2024 but may not be sustainable in the face of weak demand. H2FY25 may see realisation growth which, if it happens, would drive average operating profit/tonne improvements in H2FY25 over a muted H1FY25.
Reliance Industries Ltd invested over $125 billion in the last ten years as it undertook massive expansion in hydrocarbon and telecom businesses, a report said, estimating that the conglomerate's investments in the next three years would be in relatively less capex-heavy retail and upstream new energy. Reliance is coming out of a series of long and intensive capex cycles (hydrocarbons and telecom).
It blamed delay by the Reserve Bank in cutting rates and prop up growth.
Stating that the worst is over for the Indian economy, financial major Citigroup on Friday said the country is likely to clock a growth rate of 5.4 per cent in 2012-2013 fiscal year.
The domestic airlines industry is estimated to have posted losses to the tune of over Rs 10,000 crore (Rs 100 billion) in the previous fiscal, nearly 18 per cent down from a year ago.
ITC highlighted that legal cigarettes account for 9 per cent of tobacco consumption in India, but 80 per cent of tax collection is from tobacco products. While illicit cigarettes account for roughly one-third of the market share, legal cigarette volumes have recovered to around 96 per cent of peak FY13 volumes, after dipping to 70 per cent in FY21.
Trouble started brewing after Cognizant announced that Ravi Kumar, former Infosys president, would take over as the Nasdaq-listed company's CEO.
Kelkar panel says figures awry, fiscal deficit may cross 6% if reforms not undertaken.
The stock of Dixon Technologies (India), the country's largest listed electronic manufacturing services (EMS) player, was up 6 per cent in 10 trading sessions, boosting the gains over the last three months to 21 per cent. The gains came following reports that Dixon will produce laptops in India in partnership with US and Chinese firms under the production-linked investment (PLI) scheme. It recently signed an agreement to make smartphones for Xiaomi India.
In 2011-12, the state attracted new investment commitments in the real estate sector worth over Rs 1,200 crore (Rs 12 billion).
Customer deferrals, ramp-downs in a few large projects, delays in large deal closures due to Hurricane Sandy may cause threat to outlook.
Although it has not been able to sell stake in any PSU so far this fiscal, the government will be able to meet the Rs 30,000 crore disinvestment target set for 2012-13, according to Department of Economic Affairs secretary Arvind Mayaram.
"We are going to add 35,000 more people next year, which includes 13,000 people for the BPO operations," Infosys Member of the Board and Chief Financial Officer V Balakrishnan said.
Subsidy bill on food, petroleum and fertilisers is estimated at Rs 1,79,554 crore.
The government on Friday said the economy may have expanded by 4.5 per cent in 2012-13, compared with the earlier estimate of 5 per cent, on account of subdued performance in agriculture, mining and manufacturing.
Its revenue during the period grew by 65 per cent to touch Rs 9,458 crore (Rs 94.58 billion), as against Rs 5,718 crore (Rs 57.18 billion) during FY12.
Experts believe the surge in illegal mining is due to vested interests of politicians
The full year economic growth for the fiscal year 2012-13 came in at 5 per cent, in line with an official forecast given in February, but its worst in a decade, and a far cry from the 9 per cent annual expansion recorded until two years back.
Infosys CEO and MD S D Shibulal took home a smaller bonus in the past financial year.
According to a research report by Bank of America Merrill Lynch, despite better rains the growth forecast for this fiscal is likely to be around 5.6 per cent.
In the Budget 2012-13, the government had pegged 2012-13 gross domestic product growth at 7.6 per cent (plus, minus 0.25 per cent).
Pawan Goenka did not offer any details on the new models or launch dates.
The government is set to earn an equity dividend of nearly Rs 13,800 crore from the listed public-sector banks (PSBs), all 12 of them, for FY23, up 50 per cent from Rs 9,210 crore in FY22. This will be the highest ever dividend for the government from PSBs. The 12 PSBs in our sample are paying an equity dividend of nearly Rs 21,000 crore for FY23, up 53 per cent from Rs 13,710 crore for FY22.
Market concentration in the country's telecom sector continues to scale new heights despite government bailouts of public-sector Bharat Sanchar Nigam Ltd (BSNL) and Mahanagar Telephone Nigam Ltd (MTNL), and private-sector Vodafone Idea. The combined revenue (or net sales) share of the country's top two telecom operators - Bharti Airtel and Reliance Jio - in the sector's total reached an all-time high of nearly 72 per cent in FY23 from 70.4 per cent in FY22 and around 60 per cent in FY20. The net sales of Reliance Jio and Bharti Airtel India were Rs 1.67 trillion in FY23, up 18.6 per cent from the Rs 1.4 trillion a year earlier.
The banking sector emerged as an outlier when the rest of India Inc witnessed a slowdown in earnings in FY23. The combined net profit of listed public and private sector banks was up 39.4 per cent year-on-year (YoY) last financial year and their share in India's gross value added (GVA) or gross domestic product (GDP) at factor cost rose to a record high of nearly 1 per cent up, from 0.8 per cent a year ago. Listed banks' combined net profit grew to Rs 2.36 trillion in FY23, from Rs 1.69 trillion a year ago. In comparison, India GVA at current prices was up 15.2 per cent YoY at Rs 247 trillion in FY23; it was around Rs 214 trillion a year ago.
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Amid the top 20 states, Kerala is the only state which witnessed a surge in the proposed investments at 10 per cent with two projects worth over Rs 14,200 crore (Rs 142 billion).
NRIs remittances jumped 19 per cent to $66 billion in the last fiscal compared to the previous financial year because of a sharp decline in the rupee value against dollar, Assocham said in a study.
Pawan Munjal, MD & CEO, tells Business Standard that Hero Motor is firming up distributors abroad and considering assembly bases in some countries to sell a million units outside India by 2017.
In 2011-12, when the rupee stood at an average of 47.95 against the dollar, the size of the economy was $1.84 trillion at current prices (including indirect taxes).
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