Infosys Q3 PAT at Rs. 28.75bn
Infosys Ltd has posted results for the third quarter ended 31st December, 2013. The net profit for the quarter stands at Rs28.75bn. Revenues were Rs13,026 crore for the quarter ended December 31, 2013. Earnings per share (EPS) was Rs50.32 for the quarter ended December 31, 2013. Liquid assets including cash and cash equivalents, available-for-sale financial assets, certificates of deposits and government bonds were Rs27,440 crore as on December 31, 2013 versus Rs26,907 crore as on September 30, 2013. The year ahead looks exciting for the IT services industry. We believe the global economic environment has improved and our clients are gaining confidence to invest in their strategic initiatives, said S. D. Shibulal,CEO and Managing Director. ?We continue to differentiate ourselves to seize growth opportunities. The recent changes in organizational structure will enable us to strengthen client relationships and increase market share. During the quarter, we saw early but promising results of our initiatives to increase efficiency in our operations? said Rajiv Bansal, Chief Financial Officer. ?We continue to remain focused on making investments necessary to secure and grow our future. Infosys has raised the FY14 dollar revenue guidance to 11.5-12% from 9-10% earlier...Read More
November IIP at -2.1%
The IIP for the month of November 2013 stands at 162.4, which is 2.1% lower as compared to the level in the month of November 2012. The cumulative growth for the period April-November 2013-14 over the corresponding period of the previous year stands at (-) 0.2%. The Indices of Industrial Production for the Mining, Manufacturing and Electricity sectors for the month of November 2013 stand at 122.9, 170.3 and 158.5 respectively, with the corresponding growth rates of 1.0%, (-) 3.5% and 6.3% as compared to November 2012 (Statement I). The cumulative growth in the three sectors during April-November 2013-14 over the corresponding period of 2012-13 has been (-) 2.2%, (-) 0.6% and 5.4% respectively. In terms of industries, ten (10) out of the twenty two (22) industry groups (as per 2-digit NIC-2004) in the manufacturing sector have shown negative growth during the month of November 2013 as compared to the corresponding month of the previous year (Statement II). The industry group â€˜Radio, TV and communication equipment & apparatusâ€™ has shown the highest negative growth of (-) 42.2%, followed by (-) 27.5% in â€˜Office, accounting & computing machineryâ€™ and (-) 19.5% in â€˜Furniture; manufacturing n.e.c.â€™. On the other hand, the industry group â€˜Chemicals and chemical productsâ€™ has shown a positive growth of 18.6% followed by 16.1% in â€˜Electrical machinery & apparatus n.e.c.â€™ and 14.5% in â€˜Wearing apparel; dressing and dyeing of furâ€™...Read More
December trade deficit at $10.1bn
April-December exports rose by 5.9% to $230.34bn, while imports was down by 6.6% to US$340.4bn, Government data showed on Friday. India's trade deficit stood at $10.1bn in December as compared to $9.2bn MoM.
EXPORTS (including re-exports)
Exports during December, 2013 were valued at US$26346.06mn (Rs.163109.25 crore) which was 3.49 per cent higher in Dollar terms (17.24 per cent higher in Rupee terms) than the level of US$25457.54mn (Rs. 139119.85 crore) during December, 2012. Cumulative value of exports for the period April-December 2013 -14 was US$230335.72mn (Rs 1386496.32 crore) as against US$217415.29mn (Rs 1184748.94 crore) registering a growth of 5.94 per cent in Dollar terms and growth of 17.03 per cent in Rupee terms over the same period last year.
Imports during December, 2013 were valued at US$36486.32mn (Rs.225887.93 crore) representing a negative growth of 15.25 per cent in Dollar terms and a negative growth of 3.98 per cent in Rupee terms over the level of imports valued at US$43050.57mn (Rs. 235261.91 crore) in December, 2012. Cumulative value of imports for the period April-December, 2013-14 was US$340378.21mn (Rs. 2036568.32 crore) as against US$364242.23mn (Rs. 1983940.59 crore) registering a negative growth of 6.55 per cent in Dollar terms and growth of 2.65 per cent in Rupee terms over the same period last year...Read More
Domestic car sales dips 4.5% in December: SIAM
According to SIAM data, the domestic passenger car sales was down 5% to 1,32,561 units in December. The motorcycle sales fell 4.24% to 8,08,281 units from 8,44,046 units in the same period of the previous year, says SIAM. The total two-wheeler sales in December rose 2% to 11,63,465 units from 11,37,081 units. Report said that the total sales of commercial vehicles were down 25.53% to 46,757 units in December from 62,786 units, SIAM said.
Vinita Bali to exit Britannia in March?
Vinita Bali, the managing director of Britannia Industries, is set to quit the company in March, according to report in ET. Report stated that Varun Berry, the biscuit maker's current chief operating officer may take over the top job as the company prepares to script a new growth strategy focusing on high-margin products. Media report said that Bali had told Wadia and the board last year that she wanted to step down and pursue interests in the non-profit sector. The company is expected to announce organisational changes and a new management structure by the month-end. Vinita Bali was appointed Managing Director on 31st May 2006. Vinita joined as Chief Executive Officer of the Company in January 2005. She received her Bachelor's Degree in Economics from LSR at the University of Delhi and her MBA at the Jamnalal Bajaj Institute of Management Studies at Bombay University. She pursued postgraduate studies in Business and Economics at Michigan State University on a scholarship from The Rotary Foundation, and was selected to work as a Graduate Intern at the United Nations headquarters in New York...Read More
Hiring witnesses 13% increase in Decâ€™13: Naukri
The Naukri Job Speak Index for the month of December 2013 was at 1,296 showing a 13% increase in hiring activity when compared to Decemberâ€™12. Monthly comparison shows no change in hiring activity when compared to Novemberâ€™13. Industry wise hiring sentiment was positive with sector like IT Software showing an increase of 33% Y-O-Y. Among the top metros, hiring momentum continued in Delhi and Hyderabad with the Naukri Job Speak Index moving up by 25% and 20% Y-O-Y respectively.
Industry Sector Analysis:
An in depth analysis reveals that amid industries, the BPO sector has witnessed a double digit growth of 33% Y-O-Y. Other top performing sectors include Pharma and Telecom which have seen a spike in hiring with the index moving up by 16% and 7% Y-O-Y respectively. The growth streak was also seen in Oil and Gas sector with the index moving up by 7% Y-O-Y. Among sectors observing a negative decline, Auto sector saw the maximum decline with the Naukri Job Speak Index moving down by 17% respectively however monthly comparison shows auto sector seeing a spike with the index moving up by 16% M-O-M...Read More
Weekly: Sensex, Nifty down 0.5% each
New high of December 2013 appears to be a distant memory as index has failed to register a close above resistance of 6,360-6,400 for the fifth consecutive week. Better-than-expected quarterly numbers from Infosys failed to cheer the sentiment. Index continued to be choppy for most part of the week. Meanwhile, despite low export growth, trade deficit stood at $10.14bn in December 2013 compared with $17.59bn in December 2012. For the week, BSE Sensex closed at 20,758 down 0.4% while the NSE Nifty closed at 6,171 down 0.6%. Inflation will be the key event next week, along with the slew of earnings. Global developments will have to be closely watched. Food inflation could start to moderate and it is expected to bring down WPI. According to C Rangarajan, Chairman of Prime Minister's Economic Advisory Council, WPI is expected to come down to around 6-6.5% in December. Among the companies that will declare their numbers in the coming week include HDFC Bank, ITC, Hind Zinc, Wipro, Axis Bank, TCS, Bajaj Auto, HCL Tech, LIC Housing and MindTree. The Indices may continue to remain in a range even as stock-specific activity will dominate the headlines...Read More
Breast cancer risk can be significantly decreased by maintaining vitamin D levels
Breast cancer is an unforgiving disease that reportedly kills more than 5 lakh women every single year across the globe. According to Globocan data (International Agency for Research on Cancer), India is on top of the table with 1.85 million years of healthy life lost due to breast cancer. 'Healthy life lost' is defined by years lost due to premature death and being incapacitated by the effects of breast cancer. It is estimated that the number of new cases of breast cancer in India will increase from the current 1,45,000 to around 2,14,000 per year over the next decade and a half. But breast cancer and the likelihood of developing it is not an inevitable risk dictated purely by chance, as latest science on the subject reveals that vitamin D deficiency may be a major causative factor in breast cancer development. Like many other cells in the body, breast tissue cells bear special surface receptors that are designed to absorb vitamin D. When this pro-hormone attaches itself to these receptors, it essentially instructs breast cells how to behave, including how to divide and replicate in a healthy manner. Conversely, this same mechanistic action is believed to help protect breast cells against malignant mutations...Read More
Smoking is third top risk for health loss in India: IHME
India has made progress in reducing the prevalence of daily smoking among men, according to new research from the Institute for Health Metrics and Evaluation (IHME) at the University of Washington. Smoking is the third top risk for health loss in India, leading to nearly one million deaths each year in the country. Between 1980 and 2012, smoking prevalence among Indian men decreased from 33.8% to 23%. India has more female smokers â€“ over 12.1 million â€“ than any country except the United States. In 2012, female smoking prevalence was 3.2%, which is virtually unchanged since 1980. The study, "Smoking Prevalence and Cigarette Consumption in 187 countries, 1980-2012," was published January 8 in the Journal of the American Medical Association in a special issue devoted to tobacco...Read More
Take Home Ration: Does it improve child nutrition?
A detailed study conducted by the Nutrition Rights Coalition, Maharashtra and supported by the Narotam Sekhsaria Foundation was revealed at a recently held press conference. The study brought to light that the governmentâ€™s â€˜Take Home Rationâ€™ (THR) scheme for children below three years of age is not appropriate due to very poor acceptability and low nutrition intake related to this commercially produced packaged food supplement. The study assessed the quality of supplementary nutrition provided to children below the age of three, comparing the effectiveness of THR packets vs. cooked food in terms of distribution, usage, nutritional value and nutritional status of the children. This study was conducted in four districts of Maharashtra i.e. Pune, Nandurbar, Gadchiroli (the districts where THR is distributed) and Amravati (the district where cooked food is distributed) covering a total of 15 villages and 211 children...Read More
Old Age Security - doing the right thing for our EldersÂ
It is estimated that India has around 90 million elderly and by 2050, this number is expected to rise to 315 million. Life expectancy in India has increased from 42 years in 1960 to over 65 years at present.* According to KPMG ASSOCHAM Report, â€˜Old age security: doing the right thing for our eldersâ€™, launched today, longevity is laudable as an achievement in developing countries but it often leads to social and economic pressures on formal and informal care network along with the government. The report attempts to capture the prominent trends of the elderly in India, initiatives taken by the Government for this segment and also outlines a possible roadmap for the long-term care of the aged. It highlights the fact that while the demand for better healthcare for the elderly is expected to increase rapidly, lack of incentives for getting into elderly care is leading to an ever increasing gap between the supply and demand for elderly care. Disease management, as a concept, is relatively nascent in the country with healthcare being largely reactive in nature. The goal of disease management is to increase focus on preventive care to minimise the incidence of hospitalization and thereby reduce the overall pressure on the healthcare system...Read More
Should you buy a house or rent it?
Everyone has an opinion on whether it is better to rent or buy a home in the prevailing market conditions. Often these opinions are based on personal circumstances and often what is better for one person may not be the best solution for someone else. Since you are the one who must decide for yourself, based on what you perceive will work the best for you, it's best to do a little research and soul-searching. But Makaan.com saves you all the hard work as in this analysis we bring all the facts that will help you decide. What comes out clearly according to Makaan.com Buy vs. Rent Index (MBRI) released on Mondayis that the key Indian cities, including Mumbai, Delhi, Bangalore, Ahmedabad, Pune and Chennai have seen a significant shift in sentiment towards renting i.e., at present, the rental property prices in these cities seem attractive and affordable. A comparison between the MBRI for July-Sept. 2011 and MBRI for July-Sept. 2013 shows that within two years, key real estate markets have moved from being a place for buying and investing ranking to renting. Home Buying has never been an easy decision especially in the Metros and the present MBRI suggests that the property seekers adopt a "wait and watch" policy anticipating a fall in prices and a drop in home loan interest rate...Read More
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