The same set of companies had reported 3.8 per cent annual net profit growth in the previous quarter and 7.5 per cent annual growth in the same quarter last financial year.
Many top corporate groups hit hard, in penalties and sunk investments, beside loss of future revenue
Affected firms note practical problems in getting discoms, consumers to pay for costlier supply; viability shadow on investments
Firms generated free cash flows in 2013-14, for the first time since the 2008 Lehman crisis
The index had risen over 585 points in the previous three sessions.
The market breadth ended weak on the BSE with 2,086 shares declining and 893 shares advancing.
Decades of a state-owned monopoly selling coal at a fixed price has taken its toll on production.
Execs of RIL, Essar, Cairn India, Jubilant Energy, ADAG detained.
CAG may not be the cure-all for the ills that afflict PPP projects and is perhaps a sub-optimal solution to the problem.
It is hoped that the decision of India's apex court will send a signal to politicians and their cronies from the world of business that the rule of the law does eventually prevail, says Paranjoy Guha Thakurta.
The Modi government's e-auction policy for coal, meant to shield the consumer against hike in electricity charges, has already led to serious allegations of cartelisation among the bidding corporates. Matters came to such a pass that the government at one point last week was considering inviting the Central Bureau of Investigation to probe the matter, reports Sheela Bhatt/Rediff.com.
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