Komal | Dalal Street

India Loses Sheen with Foreign Investors + High Inflation Lower GDP Growth FY2013 – Deepak Parekh

April 22, 2012April 22, 20125 min read

HDFC Group Super Chairman, Mr. Deepak Parkeh last week met Large / Mega Foreign Investors at Singapore and in an interview with CNBC TV-18 discusses the state of Indian Economy. Here are the most important points Mr. Parkeh touched upon.

Inflation / Subsidies:Inflation is not under control and RBI kind of swallowed a bitter Pill on cutting the repo / reverse repo rate by 50 bps. Food Inflation is still very High. Fuel [Petrol, Diesel, LPG] and Fertilizer subsidies has gone through the roof. A Marginal increase in Rail fare was rolled back. India’s Subsidy bill is going to increase, increase and increase. Who will fund the Gap ?

Deposits / Loans:Deposit Growth has been lowest in the last few years. (more…)

Equity Research

Infosys Technologies Poor FY2012 + Guidance Stock Crashes 13%

April 14, 2012April 16, 20122 min read

Infosys Technologies‘ FY2012 Results are Pathetic. Revenues stood at USD 1771 mn posting a decline of 1.9% QoQ missing the already muted guidance of USD 1810 mn. EBITDA margins stood at 32.6%, declining 110 bps QoQ primarily due to rupee appreciation. While the utilization declined 440 bps QoQ to 73%, rationalization of other expenses has witnessed some tailwinds.

Guidance: INFY guided for FY13 US$ revenue growth (more…)

Breaking Corporate India Earnings News

What is the New Income Tax Rule on TDS of Sale / Purchase of Immovable Property ?

March 17, 2012March 17, 20124 min read

The Government of India in the Finance Bill of 2012-13 has proposed a Income Tax Collection by means of TDS of 1% to Nail Down Citizens who have been evading Income Tax despite making a moolah in Land Deals. What does the Bill say ?

Excerpts of the Proposed Income Tax TDS on Immovable Property is as follows
1. Definition of Immovable Property according to the Bill, (more…)

Breaking Corporate India Earnings News

TCS – Bellwether of Indian IT Industry Flies High

July 18, 2011April 18, 20202 min read

TCS posted revenue of US$2,412mn, up 7.5% qoq, majorly led by volume growth. 7.5%QQ up-tick in volumes was the key driver of TCS’ 7.5%QQ growth in $-revenues. The key surprise was the strong growth in telecom vertical (+14.3%QQ) c.f. declines seen at Infosys and also the fact that none of TCS’ clients were postponing outsourcing decisions makes (more…)

Economy, Markets and Macro Views

Boom to Bust & Boom – Anil Ambani Crowned as Wealth Destroyer

November 4, 20101 min read

Hours away from Diwali 2010 Mauhurat trading and the Nations Economic baromete measured by BSE Sensex and NSE Nifty closing at lifetime highs, we quickly ran a scan on the biggest wealth creators and destroyers in the Bust and the Boom cycle and Reliance Anil Dhirubhai Ambani – Reliance ADAG Group is crowned as the Biggest wealth Destroyer. RNRL, Reliance (more…)

Equity Research

Jaiprakash Associates – Weak Margins disappoint results

July 26, 2010July 26, 20102 min read

Jaiprakash Associates reported strong F1Q11 top-line performance. Total revenues grew 52% YoY to Rs31.7 bn. However, significant margin weakness across divisions (mainly cement and construction) meant that even though the high-profitability real estate segment stepped up in the quarter (revenue share rose from 5% in F1Q10 to 11% in F1Q11), EBITDA for the company as a whole grew only 15% YoY.

Net profit of Rs1,051 mn, post adjustment for exceptional income related to the profit booked on the sale of its 4.94% stake in (more…)

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