IT sector may have to face tough times ahead.
A high CAD puts pressure on the rupee, which in turn makes imports expensive and fuels inflation.
It has so far managed to raise only Rs 1,700 crore (Rs 17 billion), by divesting a 5% stake in Steel Authority of India.
India's gross domestic product growth rate slipped to 7%.
Soft crude prices will cut fuel subsidy bill and help contain fiscal slippage this year.
Domestic mutual funds (MFs) have kept their faith in the Indian stock market despite multiple headwinds all through 2022-23 (FY23), with their net flows into equities crossing the Rs 1.5-trillion mark for the second consecutive financial year. MFs pumped a net Rs 1.53 trillion into equities till March 1, 2023, the Securities and Exchange Board of India (Sebi) data shows, as compared to Rs 1.72 trillion in FY22. Since FY15, MFs have been net buyers of equities, except in FY21, when they sold a net Rs 1.21 trillion.
Centre, states clear first hurdle, agree on compensation formula for losses on account of reduction in Central Sales Tax rate.
India's biggest non-bank finance company, Bajaj Finance (BAF), is set to raise capital after a gap of four years. On October 5, the board of directors will meet to approve the fund raise by way of preferential issue and/or qualified institutional placement (QIP) subject to regulatory and shareholder approvals. The move, analysts said, comes ahead of expectations, and could be in the wake of simmering competition in the consumer lending space, especially with the launch of Jio Financial Services (Jio Fin). "While we still do not have finer details on the game-plan of Jio Financial, it has plans to initially foray into consumer and merchant lending.
Experts believe equities and debt will continue to do well.
The country has been clocking a sub-5 per cent growth for the past two financial years, mainly on account of slowdown in investments.
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The RBI said lead indicators point to continuing sluggishness in domestic economic activity in the first quarter of 2014-15.
At 15.05 PM, the 30-share Sensex was up 281 points at 28,238 and the 50-share Nifty gained 86 points at 8,577
In spite of a massive jump in the number of the uber rich and rich becoming richer, their contributions to charity continued to decline during the COVID-19 pandemic when a whopping 200 million-plus were forced into poverty, says a report. While CSR (corporate social responsibility) spends have increased from 12 per cent in FY15 (two years into mandatory CSR spends) to 23 per cent in FY21, charity by the uber rich slipped from 18 per cent of the total funding in FY15 to a paltry 11 per cent in FY21, says global consultancy Bain & Company and charity-focused domestic consultancy Dasra in their India Philanthropy Report 2022. The report said that donation from private foreign companies has contracted from around 26 per cent in overall private giving in FY15 to around 15 per cent in FY21.
The stock of Colgate-Palmolive (India) surged after the company delivered a better than expected operating performance for the March quarter of the 2022-23 financial year (Q4FY23) recently. The stock, however, has given up most of these gains over the last one week as the Street awaits recovery in the core toothpaste segment and sustained recovery in market share. The country's largest listed oral care company posted a gross margin expansion of 100 basis points (bps) on a sequential basis to 66.9 per cent, led by pricing and efficient sourcing.
Chidambaram also hit out at senior BJP leader Yashwant Sinha, saying his performance as finance minister.
For the first time since 2008, first quarter of 2014 (Jan-March) saw signing of 10 mega-contracts worth $100 million in ACV.
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.
On the last day of FY!5, the Sensex ended lower by 18.37 points at 27,957.49.
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.
Right now there are about 30 lakh (3 million) subscribers under the Swavalamban scheme.
In the run-up to the Union Budget, expected to be presented on July 10, this paints a grim picture for Finance Minister Arun Jaitley.
In the capital goods space, Punj Lloyd and KEC International could be in limelight for the expected turnround
The Indian IT outsourcing sector is expected to see exports growing 13-15 per cent in the fiscal year starting in April, an industry lobby group said on Tuesday, with improving US and European economies driving growth.
IT major TCS said 2014-15 will be better than the ongoing fiscal on account of uptick in client spending in the US and Europe and growth in demand for technologies like cloud, mobility and Big Data.
All the 27 public sector banks together have market share of about 70 per cent.
A sudden surge in wealth because of stock market gains after the pandemic could be one of the factors behind the relatively lower share of philanthropy in total wealth.
This was the second consecutive yearly outflow from such funds.
Company says integration of various businesses will reap fruit.
Indian economy to grow at 5.5 per cent in near term.
Infosys management has guided for a seven per cent growth in FY15.
Securities and Exchange Board of India has proposed participation of industry bodies, stock exchanges and depositories in the market regulator's programmes on investor education and awareness.
Corporate India is more dependent than before on exporters of IT services such as Tata Consultancy Services (TCS), Infosys, and Wipro for earning foreign exchange. Such companies account for nearly 43 per cent of the forex revenues of listed firms, up from 22 per cent a decade ago. The listed IT services companies earned nearly Rs 4.2 trillion through exports in FY22, up 15 per cent from the Rs 3.65 trillion a year earlier. In comparison, the forex revenues or exports of the rest of the BSE500 companies were down 11.9 per cent to Rs 5.6 trillion last financial year.
The question is: Will the company have a strong balance sheet to support this massive investment plan?
Indian stock markets have outshined gold and silver in FY15.
The QIP route was a big hit.
Listing out priorities for the Finance Ministry under Arun Jaitley and the Narendra Modi government as a whole, it said the growth rate can pick up to 6 per cent with the extent and pace of reform measures.
Moody's said India's current account deficit (CAD) has narrowed significantly from 4.8 per cent in 2012 to 1.4 per cent in 2014.
In 2013, the government awarded less than 1,500 km of road projects under the EPC mode after it found no takers for PPP projects.
Expect corporate houses to raise funds via IPO in second half of this year.
Government has missed the overall revised tax collection target for both direct and indirect taxes by Rs 2,288 crore.
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