Action in the defence sector continues to gain momentum. The latest being the Ministry of Defence selecting a consortia of 2 developers to develop Battlefield Management System (BMS) worth INR 500bn. The BMS project is categorised under the Make in India category and will be one of the largest defence solutions to be manufactured indigenously. It is a (more…)
Year: 2015
Larsen & Toubro – Best Bet on Infrastructure Recovery
Larsen & Toubro – L&T reported weak results with standalone revenue growth of 4.2% versus expectations of 7.5%. EBITDA margins contracted YoY to 10.5% from 11.6% in 3Q FY15 ostensibly on job mix and some orders not crossing the margin recognition threshold.
While L&T, in revenue terms, is larger than India’s next six largest construction companies put together, owing to the fragmented market (L&T’s market share (more…)
Comparison of 2003-07 Rally Vs 2013-Current
A comparison of the current stock market rally with that of 2003-07 shows different path of the current rally versus the previous one. Some of the differences we spotted are (1) starting valuations of the two cycles, (2) global macroeconomic environment, (3) domestic economic cycle and investment climate and (4) earnings momentum. The current one will follow its own dynamics but a comparison is useful.
The 2003-07 rally started in the (more…)
RBI Begins to Cut Interest Rate, How Much More ?
In an out of monetary policy review decision, the RBI today lowered the key benchmark repo rate by 25bps to 7.75% with immediate effect. Consequently, the reverse repo rate and marginal standing facility rate are also lowered by 25bps to 6.75% and 8.75% respectively. The cash reserve ratio (CRR) stands unchanged at 4%.
In the statement issued (more…)
Niti Aayog – India’s Planning Commission 2.0
The government of India has revealed the structure of a new think-tank called NITI (National Institution for Transforming India) Aayog (Niti Aayog means Policy Commission in Hindi), which will replace the now dismantled Planning Commission (PC). The key objectives of the new body are as follows,
- Unlike the PC, which focused on five-year plans, NITI Aayog will undertake more ad hoc and long-term policy advisory for the central and state governments.
- The body will foster (more…)
How are Bills Passed in Indian Parliament – Lok Sabha / Rajya Sabha ?
ou all know with the May-16th Verdict of Lok Sabha being the people’s representation in the Parliament of India with 544 members. However, not everybody knows about how Rajya Sabha is constituted and its importance in running the nation.
The name of the second chamber in the Indian parliament (Rajya Sabha or Council of States) highlights its significance in India’s federal structure of governance. Members of the RS are elected by elected members of the state legislative assemblies (more…)