Arguing that the recent elevation in retail inflation is not structural but supply-driven and therefore potentially transitory, a foreign brokerage report has forecast that the benign interest rate regime will continue at least until next June. The assessment comes a day ahead of the third bimonthly monetary policy review on Friday wherein it's widely expected that the monetary authority will leave the key rates unchanged at 4 per cent even though the consumer prices have been on remaining above 6 per cent since May and crude prices have been north of $70 a barrel for months.
SIAM said it expected 10-12 per cent growth in 2012-2013.
According to tax experts, the restructuring would lead to a much lower tax outgo on dividend distribution.
Its revenues went up by 11.6 per cent to Rs 5,418 crore (RS 54.18 billion) from Rs 4,854 crore (Rs 48.54 billion), (QoQ).
The textile sector seeks cut in Excise duty on MMF to provide level playing field and hike in allocation under Technology Upgradation Fund Scheme
Extending credit facilities and introduction of presumptive tax/turnover tax will benefit industry for a better performance.
If excise duties are revised upwards, it will affect the FMCG sector, which is witnessing sequential rise in its input costs.
The total turnover of tyre industry covering 36 companies stood at Rs 22500 crore.
First sequential decline in a decade as 8 of top 15 software firms report drop in manpower
Plans to cover long distance gas pipelines would mean increase in demand for steel pipes and tubes.
Due to paucity of time, the UPA government will drop the traditional scrutiny of the Budget by the Parliamentary standing committees. Instead, Pranab Mukherjee is in touch with BJP and the CPM, while Pawan Kumar Bansal and Anand Sharma have been asked to liaise with the smaller parties to ensure the Budget moves smoothly through Parliament.
Nearly 18 months after the Mahindra Group acquired Satyam Computer Services following the admission of fraud by the latter's then chairman B Ramalinga Raju, the new management of Mahindra Satyam surprised analysts while restating the company's financials for FY09 and FY10.
Mukesh Ambani group firm Reliance Industries on Wednesday said it will issue one bonus share for every share held in the company.
The company, which reported a moderate performance in the third quarter of FY09, had earlier indicated that it could resort to such a step. India's largest software exporter Tata Consultancy Services said on Thursday that it planned to review the variable component of employees' salaries every quarter in an attempt to cut costs.
Remove anomaly of higher customs duty on inputs by cutting the customs duty on natural rubber, other inputs and on tyre manufacturing machinery and / or hike in customs duty on tyres.
Pierre Nanterme, group chief executive of management consultant and transaction-services-provider Accenture, which reported a 6 per cent rise in net revenues to $6 billion in the first quarter of FY09, acknowledges that the environment is tough and clients have become more demanding.
The group had reported a loss of pound 338 million in the previous fiscal due to its write-offs for its acquisition of Borsa Italiana SpA.
The 28 discoveries include Charada structure and Matar field in Cambay basin (Gujarat) and YSAF in KG basin (off Andhra Pradesh coast), the company said. The discoveries made in FY'09 have been notified to the directorate general of hydrocarbons.
The company has invested Rs 193 crore ($45 million) in Infosys Consulting, which includes an investment of Rs 81 crore (Rs 810 million) in FY 08. During fiscal 2005, the company established Infosys Consulting, a wholly-owned subsidiary in Texas, US, to add high-end consulting capabilites to its Global Delivery Model.
Mumbai Metropolitan Region recorded housing sales of nearly 9,200 units in Q3 of calender 2020, against 3,620 units in the preceding quarter, registering a 1.5 times growth which is the highest growth seen any city except Chennai.
The economic slowdown and the accompanying moderation in the pace of revenue growth has adversely hit the financial health of governments, both Union as well as states, in the financial year 2008-09, according to the Reserve Bank of India's quarterly review of the economy.
GJEPC seeks two year Direct and Indirect tax holiday on export earnings of Gems and Jewellery Industry, considering difficult export market faced in the current fiscal
Continue the lower excise duty on various commodities, as similar to FY 09-10, says the glass industry.
In her customary address to the joint sitting of Parliament, President Pratibha Patil said, "Even in the prevailing adverse global environment, our economy, it is hoped, would still register a relatively high growth rate." Official estimates have pegged GDP growth for FY'09 at 7.1 per cent, considered good at a time when most developed economies are facing recession.
The increase in MAT from 10% to 15% is expected to increase the tax liability of the companies and thereby decrease their net profit figures.
Higher defence and agri credit allocation will encourage new vehicle buying which in turn will benefit the industry players.
The increased focus on infrastructure development and housing sector is expected to raise demand for cement,
Higher defence allocation will spur investment in new vehicles.
Considering the sluggish demand in the advanced markets, and the huge working capital needs, the sector seeks funds at or lower than International interest rates
With the small car segment driving growth, the country's domestic passenger vehicle market is likely to grow at a compounded annual growth rate (CAGR) of 13.9 per cent over the next five-years, a survey said.
The growth in two wheelers were triggered by couple of factors such as 4 per cent excise duty cut announced in stimulus package in December 2008, fuel price reduction of Rs 5 per litre in petrol and Rs 2 per litre in diesel as well as the unaffected and untapped demand from the rural market.
Biocon has managed to heal the wound fast. India's largest biotechnology company, which straddles high-end drug research to generics, bet the wrong way on how the rupee will move against the dollar and paid a big price last year.
The January-March quarter results for FY2009 reflect the muted growth of Indian IT companies. A look at what lies in the future for the companies in this sector.
Private carrier Jet Airways is expected to further consolidate its international operations into a major revenue grosser in FY09, to overcome the growing turbulence in the domestic sector. The general economic scenario does not bode well for capacity expansion on domestic routes, with some of these struggling on account of overcapacity, and only yesterday some airlines were pushed to hike fares to make up for higher aviation turbine fuel prices.
The move is under consideration as the cash transaction reports just from commercial banks have shot up from 2.2 million to nearly 6 million for FY08. The number could go up further since data for the full financial year is still being compiled. Similarly, last year, the agency received more than 2,500 suspicious transaction reports from various entities in the financial sector, as compared with 817 in FY07.
Goldman Sachs expects most of the infrastructure investment to be funded by India's domestic savings.
Bank loan defaults rose to Rs 74,685 crore (Rs 746.85 billion) at the end of March 2010, with non-performing assets of public sector banks reaching Rs 57,301 crore (Rs 573.01 billion), Parliament was informed on Tuesday.
Lehman Brothers' bankruptcy filing may well prove to be the last straw for Indian IT firms, which were expecting the second half of FY09 to be better. As a result of the United States' financial market crisis, analysts do not expect Indian IT firms to sign any significant contracts in the banking, financial services and insurance space in the months to come.
The report said that weak global growth prospects have kept company prices in check in the international market and the same sentiments were being reflected in the domestic market. According to CMIE, prices of basic metal and metal products are projected to decline by 10.5 per cent in the current fiscal.
Other than the involuntary attrition, the company has reported voluntary attrition of 11.9 per cent in the third quarter. This has resulted in a drop in the number of employees in the third quarter for the second time in the current financial year. The company started seriously looking at issues such as poor performance and fudged employment details in the second quarter of FY09 when the rate of voluntary attrition suddenly went up from just 0.5 per cent to 2.5 per cent.
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