Oil firms yet to get Rs 18,000 crore (Rs 18 billion) of FY12 subsidy compensation, as estimate for this year's underrecovery swells past Budget allocation.
Salaries are performance-linked and FY12 was good on both counts; now, persistent inflation and patchy rains show on rural market.
Despite a dull macro-economic environment almost all the FMCG companies posted a decent volume growth.
The problem is actually acute in the diamond jewellery industry where there is no uniform criteria of inventory valuation unlike gold, whose prices are uniform and widely quoted.
Even after the government data showed a sharp fall in FY12 growth numbers and the April factory output data at a poor 0.1 per cent, a leading economic think tank on Thursday said it expects a revival in fortune and pegged GDP growth for the current fiscal at 7.3 per cent.
Analysts believe for each of its businesses, RIL has underlined triggers that could boost profitability.
Sharp rupee fall, interest differential on export finance rates may have led to arbitrage in gold.
While the bigger burden of increase in revenue collection would fall upon the indirect taxes, on the direct taxes there could be rationalization & simplification.
For the financial year 2013, the industry will hire around 200,000 of which 100,000 students have already received offer letters. The industry would end FY12 by hiring 230,000.
The performance of the auto component industry was impacted by moderation of vehicle sales in India in 2011-12.
India's merchandise exports crossed the government's target of $300 billion in the last fiscal and reached $303.7 billion. But according to Commerce Secretary Rahul Khullar, the present fiscal is going to be tougher.
"The Index of Industrial Production (IIP) is expected to remain subdued and register below 5 per cent growth during the remaining months of FY'12 as production activity continues to be impacted by the slowdown in investment demand and the weak business and consumer sentiment," D&B said in the latest issue of its 'Economic Observer' report.
"We are going to add 35,000 more people next year, which includes 13,000 people for the BPO operations," Infosys Member of the Board and Chief Financial Officer V Balakrishnan said.
The Nifty index closed at 4,832, up 27 points.
IT major Tata Consultancy Services plans to hire 37,000 professionals for its domestic and overseas markets through campus placements in the next fiscal.
IT major Tata Consultancy Services plans to hire 37,000 professionals for its domestic and overseas markets through campus placements in the next fiscal.
Only six per cent of the respondents expected no change in recruitment activity.
He says there are certain aspects, such as export growth, that are impressive.
The FIIs, after being bearish on India since November 2010, turned positive post the Union Budget presentation, which largely addressed the challenges relating to growth and liquidity despite surging inflation.
Maintaining its growth forecast for the Indian economy at 7.6 per cent for 2011-12, financial services major Citigroup on Monday said higher farm output is expected to offset sluggishness in the industrial sector.
N Chandrasekaran, managing director and CEO of Tata Consultancy Services, talks to Business Standard on the growth outlook and why the current slowdown is unlike the one in 2008.
Foreign institutional investors (FIIs) have returned with a bang. Over the last seven trading sessions, they have pumped in close to $2 billion into Indian equities. Most market players expect this to continue as they see macro headwinds easing.
CDR amount jumps six times in first half; bankers expect things to worsen.
Auto, tourism exceptions but major sectors otherwise saw decline in FY13 inflows.
Bharti Hexacom, a joint venture between Bharti Airtel and TCIL, offers mobile services in Rajasthan. Bharti owns a 70 per cent stake, while the remaining 30 per cent is held by state-run Telecom Consultants of India.
The combined assets of the top five - Tata Consultancy Services (TCS), Infosys Technologies, Wipro, HCL Technologies and Tech Mahindra were down one per cent to Rs 27,7400 crore at the end of 2017-18, from Rs 28,0100 crore a year before.
Automobile industry body SIAM on Monday lowered its vehicle sales growth forecast for FY'12 to 11-13 per cent from 12-15 per cent announced three months earlier, mainly due to higher interest rates and rising fuel prices.
Every one per cent change in rupee-dollar has a 40 basis points impact on the margins and, at least, 2 to 3.5 per cent on the net profit numbers of IT services firm.
The Union Budget 2011-2012 is likely to be more beneficial for the special and underdeveloped states, including J&K, Himachal Pradesh and Bihar, rating agency Fitch said on Wednesday.
Nifty was up 4.7 per cent in past 4 days.
Telecom major Bharti Airtel's net profit fell for the tenth quarter in a row, declining 37 per cent to Rs 762.2 crore for the quarter ended June 30, 2012.
The state-owned lender has been contemplating a Rs 20,000 crore (Rs 200 billion) rights issue for nearly a year now, but is yet to get a go-ahead from the government, which owns a 59.40 per cent stake in the bank.
Fall in oil prices is good news, as every $10/bbl price swing impacts the current account deficit by $8 billion.
Auto analysts believe that while auto sales will continue to grow in FY12, some deceleration seems inevitable, as the cost of ownership continues to increase.
The company's consolidated revenues surged by 27.01 per cent.
The estimate is way below the government's forecast of 9 per cent growth in 2011-12.
"This has been powered by a rebound in the agricultural sector following the drought in 2009-10, and a sharp pick-up in private consumption and gross fixed capital formation," CMIE said.
For FY 12 when growth is expected to slow down, "the downside risks relate mainly to the poor rainfall and to the performance of the global economy," the Centre for Monitoring Indian Economy (CMIE) said in its latest review of the country's economy.
Maruti Suzuki fears a drop in demand for the auto sector in FY 12
Lack of new investments may undermine higher consumption
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