The government has "in principle" accepted OROP - a demand by India's defence personnel that uniform pension should be paid to armed force retirees with the same rank and same length of service.
"Growth continues to be led by retail loans, primarily mortgages, and should remain so near-to-medium term. Corporate credit remains lacklustre and to highly rated corporates (implying lower yields). Efficiency improvement remains a high priority and should see ICICI Bank sustain its profitability," it explains.
The company has reported a net profit of Rs 41.43 crore in same period last year. Total income for the quarter ended June 30, stood at Rs 683.07 crore.
The agency also affirmed its 'A-' foreign currency and 'A' local currency country ceilings for the country, it said in a report here today. "IndiaÂ’s stable ratings reflect our expectations for accelerating growth over the near- and medium-term.
Capital needs are likely to increase substantially each year up until FY19, it said adding there were few indications of a meaningful recovery in earnings in the short-term, though stressed assets are likely to have peaked and NPL (non-performing loan) accretion is easing.
"A marginal fiscal slippage from the current stage to increase capital expenditure should not be viewed adversely as accelerating growth is equally important," India Ratings said in a report on Thursday.
Reliance Jio, the much-awaited 4G network hogged all the limelight at the 41st Reliance Industries‘ Annual General Meet held in Mumbai today.
The country‘s current account deficit for fiscal year 2014-15 eased to 1.3 percent of gross domestic product (GDP), compared to 1.7 percent in the year earlier, helped by relief on the trade account, which in turn was helped by falling oil prices and muted gold imports.
Mahesh Nandurkar of CLSA sees further downside risk to the 19 percent earnings growth assumption for FY16. Earnings growth in Q4FY15 for their coverage universe was negative 13.6 percent and the worst since June 2012, he said.
The complete overestimation of the previous fiscal‘s earnings growth also underscores the perils of relying on market forecasts based on earnings projections.
For the year as a whole, GDP grew 7.3 percent—a shade below the government‘s estimate of 7.4 percent—compared to 6.9 percent the previous year.
Fiscal year 2014-15 gross domestic product (GDP) growth rate, due at 5.30 pm this evening, may came in slightly lower than the government's advance estimate of 7.4 percent.
The company's total sales for the January-March period increased to Rs 1,563 crore from Rs 1,463 crore in the corresponding period, a growth of 6.83 percent .
Bombay Dyeing's net sales on standalone basis fell 33.78 percent to Rs 745.77 crore as against Rs 1,126.25 crore in March quarter of the previous fiscal. For the full fiscal, company's net profit marginally rose 0.90 percent to Rs 24.56 crore from Rs 24.34 crore in the year-ago period.
Texmaco Rail delivered posted a decent set of fourth-quarter numbers last week despite management claiming fiscal year 2014-15 was a ‘tough‘ year with hardly few orders coming in.
Bakery and dairy products maker Britannia Industries today reported a 55.35 percent increase in its consolidated net profit at Rs 167.25 crore for the quarter ended March 31, 2015.
In spite of two major catastrophes in FY15, including Jammu and Kashmir floods and the tropical cyclone Hudhud in eastern parts of the country, Bajaj Allianz continued with its good performance.
The country's second-largest telecoms firm said the number of 3G users increased 175 percent during the year.
Mahesh Vyas, MD and CEO of CMIE, says it is not practical to expect rapid implementation of road projects, especially in a country where there are issues such as land acquisition.
The company currently operates two international airports in the country in Mumbai and Bangalore. For the full year, the net loss widened to Rs 835 crore against Rs 369 crore in FY14.
In an exclusive interaction with CNBC-TV18‘s Kritika Saxena, Gartner‘s Partha Iyengar said a new strategy implemented by CEO Vishal Sikka was a ‘bold bet‘ but it cloud the firm‘s near- to medium-term outlook even more as it “ignored its struggling core businessâ€.
Bhuvnesh Singh, Barclays said the Q4FY15 earnings season started on a muted note with equal 'beats' & 'misses' to consensus EPS forecasts.
With the power sector undergoing a churn -- several deleveraged power producers have been looking to sell assets -- state-run National Thermal Power Corporation has said it will deploy about Rs 5,000 crore and may announce acquisitions of a few power plants by the end of the current quarter.
The company had sold 17,673 units in same period of last year. Domestic tractor sales stood at 10,392 units, down 37 percent, from 16,571 units sold in March 2014.
To deepen capital markets, SEBI also pitched for allowing investment of pension money into various securities instruments and to create an enabling environment for REITs to flourish.