BREAK UP OF GENERAL ELECTIONS 2009 Finally the day that counts is
here. What happens today is likely to shape the future of the nation.
The UPA or the United Progressive Alliance - formed with a majority of
Congress party, sprang a surprise when they snatched victory from the
defeat predicted by the poll pundits.
Having detected that companies at times do not undertake a buyback of shares even after announcing one, SEBI - Securities and Exchange Board of India - has decided to assess the regulations that pertain to the buyback offers.
Considering the apparently "hollow" buyback offers as a tactic to manipulate share prices, SEBI Chairman CB Bhave opined that after a close re-look at the regulations, the market regulator may make some pertinent amendments to prevent such practices.
The findings of KPMG Business Outlook Survey, carried out for nearly 1,400 BRIC - Brazil, Russia, India and China - service sector firms, hints at an ascend in business sentiment among the service providers across the region.
After having undergone extremes of stress and suffered confidence blows since fall last year – with Lehman Brothers collapsing and the global financial system traumatic – the survey depicts a distinct step up in the evaluation of conditions by the firms.
A recent CII - Confederation of India Industry – survey indicates that despite the still-persistent global economic instability and slackened consumer demand, India Inc’s business confidence index for the first April-September 2009-10 fiscal has shown a 2.4 points improvement to 58.7, vis-à-vis the previous six-month period.
According to government data released Thursday, the wholesale price index, determining inflation in India, for the week ended May 2 was 0.48 percent, after having shown an increase for three weeks in a row. Though the latest week’s figures mark a fall from the earlier week’s annual rise of 0.70 percent, it was still more than the 0.3 percent median forecast by analysts in Reuters’ poll.
Nonetheless, it is for the ninth successive week, the inflation has been below 1 per cent. For the same week a year earlier, the annual inflation rate stood at 8.73 percent!
The fiscal 2009-10 opened on a negative note, with India’s year-on-year exports plunging by 33 percent in April, marking the seventh consecutive monthly fall! While the official data pertaining to exports, imports, and trade deficits for the month of April will be released on June 1, the provisional import figures have also shown a drop of 32 percent.
The reported plunge in exports presents figures similar to the earlier month, when they fell 33.3 percent – marking the maximum drop in more than ten years. India’s exports aggregated $168.70 billion in the fiscal 2008-09, thereby indicating a measly 3.4 percent growth rate.
Casting a shadow of doubt on the recovery prospects in China, the steeper-than-expected plunge in the country’s exports during April has somewhat eclipsed the country’s strength in capital spending.
According to the government of the world’s third-largest economy, the country’s year-on-year April exports fell by 22.6 percent to $91.9 billion – the figures were not only more than the 17.1 percent drop reported in March, but also surpassed the economists’ expectations of an 18 percent drop.
According to an employee-specific survey conducted by HR solutions company Kelly Services, 90 percent of the employees, questioned about the future value of their current skills, felt that the highly-competitive job market demanded additional training, as the skills they possess now will become obsolete in the next-five year period.
The survey, spread over 34 countries, polled 100,000 employees; 5,000 of which were from India.
Putting into execution its plan of a yearly launch of at least two new car models in the Indian market over the next couple of years, the Korean auto giant Hyundai Motor Company intends launching the diesel variant of its finest hatchback i20 by 2009-end.
Edelweiss Asset Management Limited, the Investment Manager to Edelweiss Mutual Fund, has announced the launch of 'Edelweiss Diversified Growth Equity (E. D. G. E.) Fund' in the domestic market.
Edelweiss claims that this is the first diversified equity fund launched by the company and has a number of unique features to offer - some of which are industry firsts.
The Fund offers three investor-friendly plans namely, Plan A, Plan B and Plan C with varying entry, exit loads and expense ratios, to cater to various investor segments.
Indian Stock Market opened low on Tuesday as there was selling in blue-chip counters including HDFC, Reliance, ITC and M&M. US Stock markets closed positive on Monday as investor sentiment was strong on back of positive news.
Technical experts from different Technical houses and brokerage firms have different view about the stock markets.
CLSA suggests that stock market may see a pullback as many stocks are in overbought territory. They are also suggesting investors to book some profits at higher level.
With the aim to cater to the buoyant small car market, production capacity would be increased by Auto major Maruti Suzuki India (MSI), which sells every second car in India, by additional 2-lakh cars in the next two financial years.
"As demand has increased and will only grow further, we would require additional capacity beyond the current 9-lakh cars a year to cater to the small car market. We will increase volumes to meet rising domestic demand and higher export orders," informed MSI managing director Shinzo Nakanishi.
The Indian equity markets are witnessing stark differences in the investing styles of domestic and overseas investors - while the former are largely involved in selling off, the latter are continue to make unswerving purchases in the Indian market.
With the 48-hour countdown for the takeoff of the Polar Satellite Launch Vehicle (PSLV-C-12) having begun at 6.45 a. m. on Saturday, the vehicle carrying two satellites is all geared up to rocket into the sky at 6.45 a. m. on Monday, from Andhra Pradesh's Sriharikota spaceport.
The two satellites that the PSLV will put in orbit include a radar imaging satellite called RISAT-2, and a 38-kg investigational mini communication satellite - Anusat - built by Anna University, Chennai.
A Swedish court has finally handed down its verdict to the four defendants in the Internet file-sharing case! Each of the four - Peter Sunde, Frederik Neij, and Gottfrid Svartholm Warg, and Carl Lundstrom, - has been sentenced to a one-year jail term. The court has also ordered them to make a 30-million kronor payment in damages to top entertainment companies, like Warner Bros, EMI, Columbia Pictures, and Sony Music Entertainment.
In a recent Confederation of Indian Industries (CII) report titled 'Global Economic Crisis: India's Recovery,' the industry body has said that it would be quite "unrealistic" to expect a high level of Foreign Direct Investment (FDI) into India in the face of the ongoing global economic crisis. As such, the CII anticipates that amid recession the Foreign Institutional Investor (FII) investments would be almost negligible.
Company is the largest manufacturer of cigarettes in India. It is a member of BAT Group of UK. ITC is rated among the World's Best Big Companies, Asia's 'Fab 50' and the World's Most Reputable Companies by Forbes magazine, among India's Most Respected Companies by BusinessWorld and among India's Most Valuable Companies by Business Today. ITC ranks among India's "10 Most Valuable (Company) Brands", in a study conducted by Brand Finance and published by the Economic Times. ITC also ranks among Asia's 50 best performing companies compiled by Business Week.
Products & services-
Motilal Oswal Financial Services, one of India's leading stockbroking and research firm, has come out with earnings estimates on FMCG sector for the quarter ended March 2009.
The company in its latest research report revealed that Nestle's March quarter sales are expected to go up by 18.7% to Rs 1295.4 crore on Y-o-Y basis.
In addition, Motilal Oswal predicated Nestle's net profit to go up by 18.5% to Rs 201.5 crore on Y-o-Y basis.
Motilal Oswal, one of the leading equity research and broking houses of India, has come out with earnings estimates for Tata Tea for the quarter ended March 2009.
According to the research conducted by the firm, Tata Tea, the Largest Tea manufacturing company in India, is expected to register 9.7% growth in March sales to Rs 1291.4 crore on Y-o-Y basis.
In addition, the company's net profit is also predicted to go up by 18.6% to Rs 80.8 crore on Y-o-Y basis.
In a latest report, Motilal Oswal, one of the leading stock research firms in India, revealed that Beauty and wellness company Marico's March quarter sales are expected to go up by 23.6% to Rs 578 crore on Y-o-Y basis.
In addition, the company's net profit is also expected to surge by 22% to Rs 36.8 crore on Y-o-Y basis.
It may be noted that apart from Motilal Oswal, many market analysts are also positive on Marico's upcoming results.