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The Indian Economy (Page 16)

jagdu IF-Dazzler
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Posted: 28 July 2008 at 2:48am | IP Logged
Oil prices lift Reliance
The largest co. in the Indian Economy by capitalizationsaid it's net income rose to 41.1b Rs. drom 36.3b Rs last year, net Profit to 9.4b Rs. reflecting Sales that rose 38%to 430.5b Rs. helped by higher crude oil prices.Mukesh Ambani said Reliance is going to grow and it's globally accepted products showing that it's refining business jumped 46% to 325.87b Rs.because of higher crude prices. His Jamnagar refinery can process the highest grade crude, and process 660,000 barrels a day. Reveneue from this segment has grown 13% to 148.71b Rs., and grown 19% a year to 30.4b Rs.Total epenses increased 47% from a year ago to 366.09b Rs and the co. has made natural gas discovery in the Krisna godavari basin, off east India.

kadhambari IF-Rockerz
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Posted: 28 July 2008 at 3:43am | IP Logged
thanx jagdu 4 all the above infos.  
 
 
 
jagdu IF-Dazzler
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Posted: 29 July 2008 at 8:33am | IP Logged

Blasts put the Indian Economy on high alert

Bangalore, a city of about 6 million peope and many software and outsourcing companies such as Infosys and Wipro , Microsoft and IBM and 1500 other companies showed no signs of business being seriously affected and thousands carried out their activities without fear.**                **                 **
Doha talks
India's minister Kamal Nath almost walked out at one point in protest. A latin american proposal permits developing countries to shield 12% of their agricultural products from big cuts in import tariffs. **      **
India's swelling deficit has potential to set off cascading economic troubles
India's central govt. gives salary increases of as much as 40% for 2.9 million employees once in a decade. N. Delhi is also issuing bonds equivalent ot 3.6% if GDP to oil and fertilizer co.'s to partially compensate them for selling their products domestically at lower then global prices. The fiscal deficit will rist to 11.4% of the GDP, up from 7.7% last year. The result may be a lower growth rate of 7.5%.
Infrastructure has been neglected so long the govt. needs $500 billion in spending over the next several years to equip the country. ICICI, the largest private bank in the sector and others face downgrading of their debt rating. Some companies are scaling back their expenditure in anticipation of higher interest rates, such as IOC corp., ACC Ltd. and Ambuja cements.
 


Edited by jagdu - 29 July 2008 at 8:58am
jagdu IF-Dazzler
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Posted: 30 July 2008 at 1:03pm | IP Logged
The cause
RBI hikes rates at which banks borrow funds from it/repurchase rate:
Now the highest level in 7 years, 3rd time in 2 months by .5% to 9%, cash reserve ration by .25% to 9%.
The Indian economy will grow from 7-7.5%, 9 in 2007 and 9.6 in 2006. This is down from 8-8.5%, and RBI says 8%. The wholesale price inflation rose to an annual rate under 12%, a 13 year high. The Indian economy will pass the interest rate rises to it's consumers. **     **
...and the effect
The Indian economy is down 32% on the year after rallying up 47% in 2007. In just one day the economy shed 3.9%. HFDC, ICICI, DLF, Maruti Suzuki, Tata motors, Reliance Infrastructure, Ranbaxy labs lost profits and fell.Banks, Real estate, automobiles, capital goods companies on concerns about orders declined.
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Posted: 31 July 2008 at 3:45pm | IP Logged
End of free trade?
Do nations want to carve their protected niches or expand global trade and prosperity? Kamal Nath preened as a third world hero refused to open India's to farm imports insisting on a special safeguard mechanism that would have let the countries jack up their tariffs if imports rose too rapidly. He claimed that this would protect the livelihood of millions of farmers in India. The rise of India's middle class has coincided precisely with the move of millions from the countryside to the cities, as well as Indias growing engagement with the world economy. More Indians will stay poorer longer because of his obstinence.**                                 **                                   **
 
 
jagdu IF-Dazzler
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Posted: 01 August 2008 at 12:31pm | IP Logged
Reliance Profit rises 24%
Average revenue per user and minutes of usage fell for R.Com though the net profit went up to 15.2 billion Rs. from Rs 12.2b a year earlier helped by addition of subscribers and foreign exchange gains. India's 2nd largest telecommunicaitons co. 's revenue rose 24% to 53.22 billion Rs. from 43.04 b by adding 5 million subscribers this quarter, rising to 53 million mobile phone users. The results were above 4th qtr. net profit of 15.03b Rs., with a revenue of 53.11b Rs.
The rupee has weakened more than 7% against the $ this quarter.
Avg. Revenue per user fell to Rs 282 for 317 in January, and 375 last year. Minutes also fell to 424 from 430 last quarter, and from 510 last year.
Revenue from Reliance wireless business, which makes up more than 77% of overall revenue, fell To 41.9 b Rs. from 41.61 b. last year.
 
Bharti airtel, India's largest mobile operator oisted a 34% rise in net profit to 20.25b Rs. on a revenue of 84.83 b. Rs.
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Posted: 04 August 2008 at 11:55am | IP Logged

Mittals, Indian players involve in Bulgarian steel. Picture this: Pramod Mittal is an Indian steel enterprenuer and controlling shareholder of struggling steel plant Krekikovtzi. Laxmi Mittal is Promod Mittal's brother and controlling shareholder of ArcelorMittal, the largest steel firm of the world which wants to acquire Kremikovtzi plant after bankruptcy.  Funds were used to repay debts including to Pramod Mittal. Pramod's group is much smaller than the huge steel empire controlled by older brother Laxmi Mittal. Pramod has hired controversial figures to stop the bleeding at Bulgarian steel. Asset sales of Bulgarian steel were authorized by the company's supervisory board, of which Pramod Mittal is chairman.

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Posted: 12 August 2008 at 10:40pm | IP Logged
Spicejet gets $100 million
Vijay Mallya said that airlines in India never go down. Even if they go down, they do not go out, some foreign investor comes and dumps money on airlines. Spicjet has been the latest beneficiary.

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