The Week That Was

After being under pressure for past two weeks, the Indian equity market registered smart gains amid easing CPI and declining wholesale price inflation

January 17, 2014 5:56 IST | India Infoline News Service
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Not PM candidate, Rahul Gandhi to lead Congress campaign

Congress vice-president Rahul Gandhi will lead the 2014 Lok Sabha elections. However, he is unlikely to be announced the Congress' prime ministerial candidate. Rahul would undertake the responsibility given to him by his party but contrary to widespread speculation he is unlikely to be announced the Congress' prime ministerial candidate. Many Congress leaders such as Salman Khurshid and Jyotiraditya Scindia said that they have supported Rahul as PM candidate. According to Congress spokesperson Janardhan Dwivedi, Congress President Sonia Gandhi has opposed nominating Rahul as the PM candidate. Dwivedi said after the Congress Working Committee (CWC) meeting held in New Delhi on Thursday.   Dwivedi said that Rahul himself did not want to be named the Congress's PM candidate and just wanted to work for the party.

Sonia Gandhi says decision on Rahul final 

Dec WPI inflation at 6.16%

The annual rate of inflation, based on monthly WPI, stood at 6.16% (provisional) for the month of December, 2013 (over December, 2012) as compared to 7.52% (provisional) for the previous month and 7.31% during the corresponding month of the previous year. Build up inflation rate in the financial year so far was 5.35% compared to a build up rate of 4.84% in the corresponding period of the previous year.

PRIMARY ARTICLES (Weight 20.12%)

The index for this major group declined by 5.0% to 243.6 (provisional) from 256.3 (provisional) for the previous month. The groups and items which showed variations during the month are as follows:-

The index for 'Food Articles' group declined by 6.4% to 240.1 (provisional) from 256.4 (provisional) for the previous month due to lower price of fruits & vegetables (21%), fish-inland (8%), coffee (7%), tea and ragi (3% each) and gram, rice and mutton (1% each). However, the price of poultry chicken (6%), egg (5%), moong (4%), condiments & spices (3%), jowar, barley, masur and wheat (2% each) and fish-marine, milk, arhar, maize, pork, bajra, beef & buffalo meat and urad (1% each) moved up.

The index for 'Non-Food Articles' group declined by 0.4% to 215.8 (provisional) from 216.7 (provisional) for the previous month due to lower price of guar seed (13%), groundnut seed (6%), raw cotton (5%), cotton seed and soyabean (2% each) and fodder (1%). However, the price of flowers (22%), castor seed (13%), raw jute and gingelly seed (sesamum) (7% each), safflower (kardi seed) (3%), tobacco (2%) and copra (coconut), sunflower, mesta and niger seed (1% each) moved up...Read More

Average WPI inflation to be at 6.3% y-o-y in FY14: Nomura

Retail inflation stands at 9.87% in Dec

Why is recent food inflation in India so persistent?

RIL Q3 net profit at Rs. 55110 mn

Reliance Industries Ltd has posted a net profit of Rs. 55110 mn for the quarter ended December 31, 2013 as compared to Rs. 55020 mn for the quarter ended December 31, 2012.

Total Income has increased from Rs. 956260 mn for the quarter ended December 31, 2012 to Rs. 1058260 million for the quarter ended December 31, 2013.

Profit Before Tax increased by 2.1 % to Rs6,992 crore ($ 1.1 billion)

Cash Profit decreased by 3.3% to Rs7,676 crore ($ 1.2 billion)

Net Profit increased by 0.2% to Rs5,511 crore ($ 0.9 bn)

Gross Refining Margin at $ 7.6 /bbl for the quarter


The Ministry of Petroleum and Natural Gas notified the Domestic Natural Gas Pricing Guidelines, 2014 for all domestically -produced gas, including conventional, shale, coal bed methane (CBM). These guidelines will be applicable from April 1, 2014.

In August 2013, RIL and BP announced a new gas condensate discovery off the east coast of India in the Cauvery basin. The discovery, in the deepwater block CY-DWN-2001/2 (CYD5), is situated 62 kilometers from the coast in the Cauvery Basin and is the second gas discovery in the block. RIL is the operator with 70% equity and BP has a 30% share. Well CYIII-D5-S1 was drilled in a water depth of 1,743 meters, to a total depth of 5,731 meters, with the primary objective of exploring Mesozoic-aged reservoirs...Read More

Weekly: Sensex, Nifty up 1.5% each

An action packed week ended with healthy gains. After being under pressure for past two weeks, the Indian equity market registered smart gains amid easing consumer price inflation (CPI) and declining wholesale price inflation (WPI). Some amount of optimism appears to be back on Dalal Street with Nifty yet again attempting resistance of 6,350 this week. Healthy global cues and declining inflation back home could be attributed to recent rally. WPI inflation gave a positive surprise as it fell to its lowest levels since July 2013. So far earnings season has been a mixed bag with both Infy and HCL Tech surprising on the positive side. HCL Tech’s Q2F6/14 operational performance was a comprehensive beat both in quantitative and qualitative terms. While Axis Bank and TCS failed to enthuse the street.

While the RBI move later this month will be a topic of speculation, corporate results will continue to hog the limelight. The coming week has a number of larger companies announcing their results. These include Asian Paints, Colgate, L&T, M&M, Biocon and Cairn India. Expectations are that RBI governor Raghuram Rajan will maintain status quo again at the next monetary policy announcement scheduled for January 28 because of moderation in recent inflation figures...Read More  

News Infocus

Urban Indians stocking an estimated Rs. 22,000cr worth of used goods: OLX CRUST Survey

OLX.in, the number one marketplace for used goods in India, and IMRB International, leading market research and consultancy firm, announced the results of the First Annual OLX Consumer Research on Used-Goods and Selling Trends (CRUST) Survey for 2013-14 that looks at the used goods market in urban India and the attitude of urban Indians towards used goods.

The study found that Indians have a habit of stocking goods they no longer use, constraining the space in their homes, as well as preventing them from liquidating those goods to earn money and buy items that are more relevant to them.

As per the study, the total estimated realizable value of stocked goods across 12 surveyed cities to be Rs. 5100 Crore. When projected to Urban India this value is estimated at Rs. 22,000 Crore.

The estimated total number of goods stocked in the 12 sample cities was more than 17 Crores across the 15 different types of goods for which data was captured in the sample survey.

Mumbai topped the clutter chart with more households stocking than anywhere else in India.

The survey found the categories most stocked to be kitchen and home appliances, mobile phones, clothing, watches, and books...Read More

What youth in India want?

Nimbuzz has come out with its Pulse of the Nation Year End Youth Insights Report which captures insights and opinions of young users in India on four parameters i.e. DOPE [Developing the nation, Office aspiration, Play, Excitement]. The report has interesting insights pertaining to popular issues including national governance, corruption, sports, youth icons and sex. An exciting and first ever initiative by a mobile platform, Nimbuzz - Pulse of the Nation, encourages users to voice their opinions on issues that matter to them. The platform allows Indian citizens across all ages to learn and share their opinion on the pressing issues of the day, from breaking news to social issues.

Some buzzing statistics from the report are as follows:

Nation Building

56% respondents believe news channels are an important source of updates. Moreover, 47% believe that self-regulation can control the sensitization in the Indian media.

63% say, corruption is the biggest issue in the country and cannot be eradicated from the political landscape in the country; 47% respondents believe that smaller states lead to better governance.

More than 62% believe that yet there is lot of work that the Indian Government can do to preserve the India’s heritage

Only 33% think that Delhi is the most aggressive city in India and after the massive hikes in Petrol/Diesel prices, more than 49% respondents opt for public transport for traveling

31% says that they haven’t been caught for drunk driving and more than 40% think that road accidents can only be controlled by stronger penalties...Read More

Take control of your health in the comfort of your home

With growing consciousness about health and nutrition, a sizable increase has been observed in people seeking advice for fitness and nutrition. However, due to their busy schedules most people do not find it viable to invest in any a full-time weightloss program wherein one has to be regularly visiting the clinics. As an alternative to this leading nutrition advisory Anjali Mukerjee Health Total well known for providing measurable weightloss results has been offering a comfort weightloss plan-‘ Do@Home’. Although Health Total has many successful health centres across Mumbai, Nashik and Pune, it also offers a convenient way to monitor your health in the comfort of your own home. The Do @ Home program is increasingly getting popular for its ease of access. The Do @ Home program is exclusively designed for those who cannot visit the health centers due to time or location constraints(other than Mumbai, Pune, Nasik).The entire set of diet plans, plant extracts, health foods and specific instructions would be delivered at your doorstep through courier.  Once the weightloss kit is delivered to you, your progress will be monitored by doctors & nutritionists through email/phone on a weekly basis. After the entire process has been explained and one has achieved the desired result, a maintenance plan is also provided absolutely free. Health Total goes an extra mile to educate and empower you...Read More

Green Swimming Pools: Need of the hour

There have been a number of initiatives over the past few months by a select group of organizations to deal primarily with water sustainability. Energy and Water are inseparable when it comes to making a sustainable swimming pool. With a combination of advanced building techniques, energy and water saving devices, one can reduce the annual running cost of a swimming pool by up to 90%. Pool Cover: Installation of a pool cover reduces water loss due to evaporation by 30%. As a result an energy saving of around 25% is made.

LED Lighting: Using LED lighting allows energy saving of up to 80% thanks to the increased efficiency of this technology. Additional advantages are longer lifespan and lesser chances of electrocution.

Ultra Violet Disinfection: UV disinfection systems enable a reduction in chlorine usage by up to 30%. The need to add more water in case of a chemical imbalance is also minimized to a great extent and hence one can save upto 50% of extra water needed...Read More

Earnings Corner

TCS net profit at Rs. 5,333 crore; up 15.1% qoq

Tata Consultancy Services, the leading IT services, consulting and business solutions firm reported its consolidated financial results according to Indian GAAP for the quarter ended December 31, 2013.

Financial Highlights for Quarter Ended December 31, 2013

  • Operating Profit at Rs. 6,337 crore; Growth of 44.6 % Y-o-Y and 0.5% Q-o-Q
  • Operating Margin at 29.8%
  • Dividend per share of Rs. 4
  • Earnings Per Share at Rs. 27.20
  • Business Highlights for Quarter Ended December 31, 2013
  • Gross employee addition: 14,663
  • Total headcount: 290,713
  • Utilization: 84.3% (excluding trainees) & 77.5% (including trainees)
  • No of $50m+ clients increases by 2; No of $20m+ clients increases...Read More

iGATE Q3 revenue up 10%

Mindtree Q3 net profit at Rs1,287 mn

Bajaj Holdings & Investment Q3 net profit at Rs4937.40 mn

Bajaj Auto Q3 net profit at Rs9.04bn

Axis Bank Q3 PAT at Rs16.04bn

LIC Housing Finance Q3 net profit at Rs3265.861mn

South Indian Bank Q3 net profit at Rs1413.10 mn

HDFC Bank Q3 net profit at Rs. 23257mn

HDFC Bank Ltd has posted a net profit of Rs. 23257.00 mn for the quarter ended December 31, 2013 as compared to Rs. 18590.70 mn for the quarter ended December 31, 2012. Total Income has increased from Rs. 108181.30 mn for the quarter ended December 31, 2012 to Rs. 127389.50 mn for the quarter ended December 31, 2013.

ITC Q3 PAT at Rs23.90bn

RS Software Q3 net profit at Rs 14 crore

HCL Tech Q2 cons PAT at Rs. 14.96bn

DCB Bank Q3 net profit at Rs270mn

Bajaj Finserv Q3 net profit at Rs2811.10 mn

YES Bank Q3 PAT at Rs4.15bn

NIIT Technologies reports 14.2% growth in revenue for Q3

CMC grows 14% Y-o-Y in Q3FY14 

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