Jain irrigation has come out with a very strong set of numbers.
Public sector Oil and Natural Gas Corporation's net profit in the January-March quarter slid 13 per cent to Rs 2,682 crore (Rs 26.82 billion), but annual net profit rose to a new high of Rs 15,643 crore (Rs 156.43 billion) in 2006-07 fiscal.
The controlling shareholders of smaller and mid-sized companies are reducing their stakes at levels seldom seen since the 2008 global financial crisis. Over 20 per cent of companies listed on BSE MidCap and BSE SmallCap have seen a decline in promoter holdings for five consecutive quarters, reveals data from DSP Mutual Fund, shared with Business Standard. In the latest June quarter, the figure stood at 22.6 per cent.
The environment ministry is likely to soon issue regulations that will mandate automakers to recycle a specified percentage of steel from old vehicles, starting from the next financial year, according to people familiar with the matter. "We recently held a meeting with members of the Society of Indian Automobile Manufacturers (Siam). "The final regulations are likely to be issued in the next 10 days," a government source informed.
On an average, Delhiites pocketed highest incomes of Rs 49,172 followed by Goans who earned Rs 47,507 during the year, even though their per head earnings grew at 6.9 per cent and 6 per cent respectively.
India expects an inflow of $12 billion foreign direct investment into the country during the 2006-07 fiscal, a government official said on Saturday. \n
Satyam Computer Services on Friday said it would invest $75 million in 2006-07 to augment its infrastructure and was looking at a location in the National Capital Region to set up a new development centre.\n\n
Projecting a higher growth rate of 8.3 per cent, the Confederation of Indian Industry on Thursday tempered the optimism with the caution that hardening interest rates, below-normal monsoon and spiralling oil prices could cut-off the crescendo.
The number of high-end taxpayers declaring income of more than Rs 10 lakh per annum have doubled to 1.77 lakh during the assessment year 2006-07, Finance Minister P Chidambaram said. Intervening in the debate on the Finance Bill 2008 in the Lok Sabha, he said there were about 97,000 taxpayers with an income of Rs 10 lakh per annum when the UPA government assumed office in 2004.
The central government has notified the Employees Provident Fund (EPF) rate of interest at 8.5 per cent for 2006-07. The Central Board of Trustees (CBT) of EPF, in July, had recommended interest at 8.5 per cent. The government has now accorded its approval to notify the specified rate of interest for the year.
By posting revenues of Rs 2,135 crore, the training sector also recorded a significant growth, as demand for training within corporations in India and overseas grew.
Automobile sales in India started on a high note this fiscal with cars and bikes witnessing an over 16 per cent surge in demand in April even as commercial vehicles saw numbers gain to the maximum, rising by a whopping 68.5 per cent.
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.
The Reserve Bank of India on Wednesday hiked the expected GDP growth for the year ending March 31, 2007 to 8.5-9 per cent.
Booming manufacturing and services sector is likely to push up India's GDP growth to 7.7 per cent in 2006-07, but inflationary pressure may lead to hike in interest rates
Top 500 firms in India have posted an income of over Rs 19,000 billion in fiscal 2007.
Exports in March this year jumped 15.38 per cent year-on-year to $12.5 billion, pushing the overall exports in 2006-07 to $124.6 billion.
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.
The ongoing credit squeeze in the sluggish two- and three-wheeler markets may affect the March sales targets of the three leading domestic players in the country. Taking the cue from a buoyant FY07 where the two-wheeler industry grew by a healthy 11.42 per cent, companies such as Hero Honda, TVS Motors and Bajaj Auto were hoping to surpass the FY07 target of 7.8 million units this year.
Tata Consultancy Services (TCS) on Wednesday posted a 19 per cent increase in consolidated net profit at Rs 1,326.67 crore (Rs 13.27 billion) for the third quarter ended December 31, 2007 when compared with Rs 1,116.10 crore (Rs 11.16 billion) in Q3 FY07. According to a release issued to the BSE on Wednesday, the total income increased to Rs 6,041.98 crore (Rs 60.41 billion) from Rs 4,910.53 crore (Rs 49.10 billion) in Q3 FY07.
Data released by the Life Insurance Council reveals that the total pension premium for the life insurance industry saw a growth of 159 per cent at Rs 22,268 crore (Rs 222.68 billion) for FY07 compared with Rs 8,568 crore (Rs 85.68 billion) in FY06.
The TCS total income for the quarter stood at Rs 5,203 crore, up 25.2 per cent as against Rs 4,225.62 crore (Rs 42.246 billion) in Q1 FY07.
Further hike will depend on the RBI's assessment
Fall in crude prices has eased interest rate worries and that expectation of good Q2 is already factored in the prices.
Car market leader Maruti Udyog Limited is opting for a new name. The board of directors, at its meeting in New Delhi on Thursday, approved a proposal to change the company's name to Maruti Suzuki India Limited.
Analysts expect robust earnings growth from the financial sector.
In its Strategic Review 2009 report, Nasscom said that in the current fiscal, the exports could touch $47 billion, without giving estimates for 2010.
While there is widespread expectation that excise duty is likely to be raised on revenue considerations, the fast moving consumer goods (FMCG) sector pleads for retaining them at current levels to spur demand.
About 40 top positions in central public sector enterprises have been lying vacant for more than three months due to delay in vigilance clearance and approval of competent authority, Lok Sabha was informed on Thursday.
The telecom sector is likely to garner revenues to the tune of $35 billion by 2010 even though its profit margins have been declining, a study said.
The Indian software and services exports are expected to touch the $40 billion mark in FY08 ($31.3 billion in FY07), contributing nearly 64 per cent to the overall revenue aggregate (including software exports, domestic and BPO segments), according to IT trade body Nasscom's Strategic Review 2008.
Tata Motors, the country's largest automobile house, is looking to foray into the used commercial vehicle market through its extensive dealer network in the country.
Y V Reddy, outlined certain key milestones in the Indian economy's growth story and envisioned the future trajectory
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances