The country's current account deficit is likely to decline to 1.1-1.2 per cent of the gross domestic product in the third quarter, say rating agencies.
According to the report, export-oriented sectors like IT services, pharmaceuticals and textiles will, in aggregate, report EBITDA margin expansion of nearly 100 bps, while margin is likely to decline by about 50 bps for other sectors during this period.
HCL Technologies today reported a 58.4 per cent rise in consolidated net profit at Rs 1,496 crore (Rs 14.96 billion) for the second quarter ended December 31, 2013, on the back of growth in manufacturing and infrastructure services.
The higher than expected growth in the second quarter of 2013-14 is an indication of recovery in economy but some key sectors still need to perform better, India Inc said on Friday.
Shares in Infosys Ltd rose as much 6.7 percent on Friday, after the company raised the lower-end of its fiscal 2014 dollar revenue growth guidance.
Converts part of fixed salary component into variable one
HCL Technologies and Infosys should benefit more than TCS and Wipro
'One of the biggest issues the Indian economy faces right now is of job creation...' 'The nexus between growth and employment has to be closed...' 'In the absence of a manufacturing expansion, the alternative is to have the service sector as the driver of both GDP as well as employment growth.'
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