The Week That Was

After indices hit calendar year closing highs during the week, the Indian equity markets were unable to build on the momentum.

January 24, 2014 6:31 IST | India Infoline News Service
Top Stories

Inflation is a destructive disease: Rajan

Reserve Bank of India (RBI) governor Raghuram Rajan on Thursday called inflation a "destructive disease" which forced the bank to keep interest rates high, according to a newswire report. Rajan further said that the industrialists complain about high interest rates.

However the central bank didn't have a choice but to keep interest at a high rate because inflation is high at 8 per cent, the governor added.

Rajan was speaking at the 8th RN Kao Memorial Lecture organised by Research and Analysis Wing (RAW) in New Delhi.

RBI to release Q3 monetary policy on Jan 28

India Economic Forecast: No fireworks in 2014-15

CRISIL forecasts a 6% GDP growth for 2014-15 compared with an expected 4.8% for 2013-14. Economic growth is likely to accelerate in the next fiscal as the reform process continues and begins to bear fruit, and the low base of this fiscal and the last lends a halo to the numbers, according to CRISIL Insight report: No fireworks in 2014-15. We now believe growth will print at 6% for 2014-15, up from our 4.8% estimate for 2013-14. The pick-up will be aided by implementation of stalled projects, debottlenecking of the mining sector and a recovery in industry on higher external demand, the report added. We also expect some rebound in services growth in 2014-15 led by higher exports as well as a positive ruboff from higher industrial growth. Finally, we assume a normal monsoon year, which will cushion growth and help in taming inflation, CRISIL said.

The growth forecast is also supported by improved global outlook. Standard and Poor’s expects US GDP growth to rise to 2.8% in 2014, up from 1.7% in 2013, while the Eurozone economy is forecast to expand by 0.9% after two years of recession. However, there is no saying yet whether we have seen the beginning of a decisive, sustainable recovery. On the downside, we feel growth could remain below 5% yet again should risks manifest, it said. The GDP forecast for the next fiscal is driven by a partial unclogging of domestic policy logjam as well as improved global growth prospects. This, together with improved private consumption demand, will trigger a mild revival in industrial growth to 4% in 2014-15. Sectors such as consumer durables, automobiles and textiles will especially gain from this revival...Read More

Moody's Analytics: India Outlook: Steady growth, Lower risk

IMF raises India's growth forecast

We can achieve 8% growth if we avoid past mistakes: FM

Finance Minister P. Chidambaram reportedly said India would certainly return to 8% growth rate if past mistakes are not repeated. "In the last year and a half, we decided that we need to do more and be more decisive," Chidambaram said in Davos.

FM was quoted as saying "Last year I said we will grow by 5% this year, 6% during the next year and steadily we will move back to 8 per cent growth,".

On people coming out of poverty, Chidambaram said: "India has done well on this front, while China has also done well.

India is better prepared than last year: FM

US FDA ban...Ranbaxy says will take action

Ranbaxy Laboratories Ltd announced today that the US Food and Drug Administration ("US FDA") notified the company that it is prohibited from manufacturing and distributing active pharmaceutical ingredients (APIs) from its facility in Toansa, India, for FDA-regulated drug products. The Toansa facility is now subject to certain terms of a consent decree of permanent injunction entered against Ranbaxy in January 2012. Subsequent to the Form 483 issued in early January 2014, Ranbaxy voluntarily and proactively suspended shipments of API from this facility to the U.S. market when it received the inspection findings. Ranbaxy is disappointed with the recent FDA action and would like to apologize to all its stakeholders for the inconvenience caused by the suspension of shipment. "This development is clearly unacceptable and an appropriate management action will be taken upon completion of the internal investigation," said Arun Sawhney, CEO and Managing Director of Ranbaxy...Read More

US FDA adds another Ranbaxy facility to consent decree

Unichem Lab receives ANDA approval from USFDA for Metronidazole Tablets

Weekly: Sensex, Nifty ends flat

After indices hit calendar year closing highs during the week, the Indian equity markets were unable to build on the momentum. Investors preferred to take some profit off the table ahead of the vital RBI policy meet scheduled to be held on 28 January. F&O expiry would also be tracked closely. Sentiment was also hit after the Indian rupee weakened against the US Dollar. The Indian unit depreciated 1.5% during the week. Nifty continues to move in a tight band of 200 points. Whether the markets will get the much-needed spark would hinge on the outcome of the events mentioned above. We expect RBI governor Raghuram Rajan to maintain status quo again because of moderation in recent inflation figures. Also, recently a RBI panel has recommended sweeping changes to how the central bank runs policy, including setting a long-term inflation target of 4%, with wiggle room of 2% in either direction.

Although some of the results announced have been impressive, any disappointment from results could affect specific counters. The main indices are showing resilience but the undertone remains extremely cautious. Among the sectoral indices, the IT index zoomed higher by 2.1%, the Bank Nifty index gained by 1% and the pharma index was up marginally by 0.2%. On the other hand, the auto index was down 0.5%, FMCG index was down 0.2% and realty index was down 0.6% while Infra index was flat, even the metals index remained unchanged. For the week, BSE Sensex closed at 21,133 up 0.3% while the NSE Nifty closed at 6,266 up 0.1%...Read More 

News Infocus

Soft Competencies Skills: A must for aspirants

There are many aspirants who hold a degree from the top notch university with a very high percentage and have done enough of short term courses to land them a job but fail to grab one during the recruitment while there are those, which hold a degree from a recognized university and a not so high percentage but are able to land their dream job at a first try. The reason behind this can be due to the lack of soft competencies skills. While looking for a job, a fresher often emphasis his/her skills towards the abilities, training and knowledge of specific skills which are required for the job. They often neglected the soft competencies or soft skills, which plays a vital role in day to day operations. These skills are a bunch of personal qualities, attitudes, habits and social graces. These attributes enhance an individual’s interaction, job performance and career prospects. Therefore, it is important to focus on the development of these skills as you do on your hard skills. Employers seek candidates with both types of skills when hiring for most positions...Read More

Europe: A must in your life

Seeing Europe is a must for people from other continents. Therefore, the European Commission (EC) will continue its efforts to raise the international profile of Europe and enhance its visibility as a tourist destination. These efforts will build on the successful "Europe – Whenever you’re ready" communication campaign, which helped improve tourism relations between India and the EU by highlighting the diverse cultural heritage and natural beauty that Europe has to offer at all times of the year. "There is a lot to discover in the old continent", said European Commission Vice-President Antonio Tajani, in charge of industry, tourism and entrepreneurship. "Travelers can enjoy unforgettable tourist experiences in Europe, discover its hidden treasures, travel along interesting cultural itineraries and taste its rich and varied cuisine. And it is easy to travel to Europe with its single currency, open borders, well-designed infrastructure and passenger rights. Indeed, it is a once-in-a-lifetime experience to discover Europe’s rich heritage and stunning beauty".

The European Commission is striving to create the most favorable conditions for the future of the European tourism sector. "We are promoting initiatives to help tourists from third countries to easily come to Europe. We are improving the business environment and identifying challenges, opportunities and appropriate actions to shape a flourishing future for the European tourism," said Vice-President Tajani. "The cooperation with third countries in the tourism sector is an essential part of our vision of the European tourism future"...Read More

Indians more consider their current employment as ‘just a job’: Monster survey

Monster India, one of the leading online career and recruitment solutions provider and flagship brand of Monster Worldwide in India and GfK, an independent global market research company, today released new international survey data looking at levels of job satisfaction among Indian workers. Results of the survey released today reveal that nearly half (48%) of Indians consider their current employment to be ‘just a job’, versus the two in five (43%) who see their role as part of a career. The research asked more than 8,000 workers including over 400 in India: "Do you view the work you do to be a career or just a job?"

The following answers were received in the India:

Just a Job – 48%
A Career – 43%
Don’t know / didn’t specify – 9%

Those aged 18 – 24 are the most likely to be career-minded, with 46% saying they consider their employment as part of a career path rather than just being a job for the time being. Older workers are less career-minded compared to their younger colleagues, with this figure dropping to 35% for those aged between of 50 – 64.

Building leadership skills is priority for India Inc

As growth momentum continues to shift towards emerging countries like India, its growing knowledge basedeconomy willdemand for new and adaptive capabilities with a key focus on leadership skills, reveals the Randstad Workforce 360survey. 49% of Corporate Indiasays that developing leadership skills for the next phase of business growth is a key productivity challenge faced by their organization. The Randstad Workforce 360 survey provides an understanding of the HR Game Changers for 2014, through insights from around 500 HR leaders in India. Today’s business leaders believe that success depends on their ability to understand and adapt their workforce at warp speed. When it comes to recruitment, they are certain of who will benefit theirorganization the most. The survey reveals thatin the next one year, 50% of Indian employersare inclined towards recruiting knowledge workers into the organization...Read More

India Vs. China - The Inevitable Comparison: JLL

The first day of the World Economic Forum is vibrant and instructive. 'The China Context' session gave much food for thought, especially since India is invariably compared to China in terms of the global business they attract. In fact, India and China have seemingly always been up for comparison in the past. There has been no end to the debate around which of the two economies out-performs the other, and China seems to have emerged as the default favourite for a number of reasons. I have to admit that China’s government has a strong reputation for thinking on its feet and leveraging global business opportunities. There is much to be said for a single, unopposed government that switches sails quickly and decisively in the face of global economic headwinds. China’s focus on world-class infrastructure is also nothing short of admirable – and here, again, India would have to concede a certain shortfall. However, the basic differences between India and China should not be ignored. One is comparing apples with oranges when it comes to government structure and economic policy-making. In any case, it looks like India may emerge as a stronger long-term player than China. This has become increasingly evident after the global economic downturn, which China addressed with exuberant stimulus packages and India tackled with far more circumspect fiscal policies. This circumspection is evident even today, and it is still turning out to be the more sustainable stance...Read More

Corporate responsibility is undertaken by almost 73% of large Indian cos: KPMG

Reporting on corporate responsibility (CR) is evolving as a standard business practice in India, undertaken by almost three quarters (73%) of large Indian companies, according to the 2nd KPMG India Corporate Responsibility Reporting Survey released. CR also referred to as ‘sustainability’ or ‘business responsibility’ looks at the ethical, environmental and social aspects of business beyond the financial parameters. The 2013 edition of the KPMG India survey supplements the 8th KPMG International survey, published first in 1993. The India survey is the most comprehensive research on CR reporting in India and covers top 100 listed companies by revenue (N100). CR reporting in India largely assumes the form of limited discussion on community development and/or environmental protection initiatives as disclosed by companies in their annual reports and websites. Based on KPMG India survey the number of N100 companies which use standard frameworks to report in CR is 45 and 31 companies have separate reports comprehensively covering aspects of CR strategy, governance, targets and commitments, and performance...Read More

Earnings Corner

Colgate Palmolive Q3 net profit at Rs1128.30 mn

Colgate Palmolive (India) Ltd has posted a net profit of Rs. 1128.30 million for the quarter ended December 31, 2013 as compared to Rs. 1110.50 million for the quarter ended December 31, 2012. Total Income has increased from Rs. 7955.10 million for the quarter ended December 31, 2012 to Rs. 9073.50 million for the quarter ended December 31, 2013.


Colgate has, for the third consecutive year from 2011 to 2013, been ranked as India’s #1 Most Trusted Brand across all categories by Brand Equity’s Most Trusted Brand Survey and is the only brand to feature in the top three since the inception of the survey twelve years ago. During the quarter, the Company achieved a volume growth of 10% over the same quarter of the previous year led by a strong growth of 11% in toothpaste category wherein the Company further enhanced its leadership position by registering a 56.0% volume market share for Jan’13-Dec’13 compared to 54.5% in Jan’12-Dec’12. The flagship brands "Colgate Dental Cream", "Active Salt", "Max Fresh" and "Colgate Total" along with the recently launched "Visible White" have contributed to this growth. The Company further strengthened its leadership position in the Toothbrush category by registering a volume market share of 41.5% for Jan’13-Dec’13 as against 39.8% in Jan’12-Dec’12...Read More

UPL Q3 net profit at Rs2222.40 mn

Microsoft profit beats forecasts

L&T Finance Holdings Q3 net profit at Rs1096.887 mn

Blue Star Q3 Operating Profit at Rs14.89 crores

Essar Ports Q3 net profit up 22%

Supreme Industries Q2 net profit at Rs474.1mn

Raymond stock up 2%

Dish TV Q3 net loss at Rs382.50mn

Mastek Q3FY14 total Income at Rs. 242 crore

Indian Bank Q3 net profit at Rs2645.020 mn

Bharti Infratel Q3 net profit at Rs4105 mn

Amara Raja Batteries Q3 net profit at Rs950.10 mn

KPIT Q3 net profit up 21%

Raymond Q3 net profit at Rs56.89 crore

Biocon Q3 net profit at Rs6596.50 mn

L&T Q3 PAT at Rs12.40bn

Dabur India Q3 PAT at Rs2.42bn

Zee Entertainment Q3 net profit at Rs2135.90 mn

Sify reports revenues of Rs2698 mn for Q3

Thermax Q3 net profit at Rs666.450 mn

Colgate Palmolive Q3 net profit at Rs1128.30 mn

Zensar Technologies Q3 PAT at Rs507.1mn

Info Edge Q3 net profit at Rs322mn

Unilever full year net profit at €5.3bn

V-Guard’s net profit grew by 14% in Q3

Asian Paints Q3 net profit at Rs3293.50 mn

UltraTech Cement Q3 net profit at Rs3697.60 mn

Nucleus Software Q3 net profit at Rs233.9mn

Unichem Laboratories Q3 revenue from operations at Rs2.64bn

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