Bloomberg TV India’s special coverage on 2014 Vote on Account. Watch all the action from UPA-II's Interim Budget.
February 17: Economic Affairs Secretary Arvind Mayaram says that there is a need to carry out structural reforms for fiscal consolidation. Watch as he tells Mehak Kasbekar that investment cycle must include investment in manufacturing.
February 17: “Banks will be tough with willful defaulters who can pay,” says, Financial Services Secretary Rajiv Takru. He adds that the solution for distressed assets cannot be government infusing capital.
February 17: Disinvestment Secretary Ravi Mathur says there will be no revenue loss due to lower divestment. He also adds that dividends from PSUs have helped the ministry to meet divestment shortfall.
February 17: The Finance Ministry has decided to put up the DTC Bill for discussion with investors and advisors. Priyal Guliani Bhattacharya speaks to Finance Secretary Sumit Bose in detail about it.
February 17: Expenditure Secretary Ratan Watal says it is incorrect to say that planned expenditure has been cut. Finance Secretary Sumit Bose adds that impact of excise cuts over next 40 days will be around Rs.400 crore.
February 17: An excise duty cut on small cars and two-wheelers has been announced by Finance Minister P. Chidambaram today. The cut in duty will be applicable up to June 20, 2014, when the new government is likely to present the full year Budget. FM also cut duty on consumer durables from 12% to 10%. Sunanda Jayaseelan shares a detailed report on the same.
February 17: “We will put up the DTC Bill for discussion with investors and advisors,” says, Parthasarathi Shome, Adviser to FM. Further talking about GST he adds, “We hope to see progress in GST once political scenario is reconfigured.” Watch as he tells Mehal Kasbekar that India cannot have an overly simple tax system.
February 17: “It is commendable that government has contained fiscal deficit given the fact that growth is below 5%,” says, Sajjid Chinoy, India Economist, JPMorgan. On the other hand, Gautam Chhaochharia, Head of India Research, UBS Securities, says that fiscal consolidation has been a drag on growth.
February 17: “We see fiscal and monetary policy headwinds on growth,” says, Sonal Varma, Executive Director and India Economist, Nomura. Further, she expects RBI to maintain status quo in its April policy. However, she adds that it is very risky to assume that inflation is trending down.
February 17: “FIIs are positive on Narendra Modi due to his track record in Gujarat,” says, Jim Walker, Founder, CEO and Managing Director, Asianomics. He adds that a third front government would be a worry for FIIs. According to Walker, India needs a strong infrastructure investment agenda.
ION EXCHANGE: Q1FY18 REVIEW
Net Profit at Rs 7.3 Cr Vs Rs 8.1 Cr
Total Income at Rs 214 Cr Vs Rs 207 Cr
EBITDA at Rs 17.5 Cr Vs Rs 17.7 Cr
EBITDA Margin at 8.2% Vs 8.6%
EVEREST Q1 FY18 REVIEW
Net Sales up 0.4% at Rs 378 Cr Vs Rs 376.6 Cr
EBITDA up 29% at Rs 32.1 Cr Vs Rs 24.9 Cr
EBITDA Margin at 8.5% Vs 6.6%
Net Profit up 33% at Rs 22 Cr Vs Rs 17 Cr
SIYARAM SILK MILLS Q1 FY18 REVIEW
Net Sales up 13% at Rs 320.6 Cr Vs Rs 282.7 Cr
EBITDA up 11% at Rs 33.1Cr Vs Rs 29.9 Cr
EBITDA Margin at 10.3% Vs 10.6%
Net Profit up 26% at Rs 10.4 Cr Vs Rs 8.2 Cr
NESTLE Q1 FY18 REVIEW
Net Sales up 7% at Rs 2469 Cr Vs Rs 2301 Cr
EBITDA down 3% at Rs 466.6 Cr Vs Rs 482.6 Cr
EBITDA Margin at 18.8% Vs 20.8%
Net Profit up 10% at Rs 263.4 Cr Vs Rs 240.2 Cr
Other Income up 12% at Rs 412.3 Cr Vs Rs 367.5 Cr
MPHASIS: Q1FY18 REVIEW
Net Sales up 2% at Rs 1535 Cr Vs Rs 1505 Cr
EBITDA down 3.4% at Rs 276 Cr Vs Rs 286 Cr
EBITDA Margin down 100 bps at 17.4% Vs 18.4%
Net Profit up 1.6% at Rs 187 Cr Vs Rs. 184 Cr
RADICO KHAITAN: Q1FY18 REVIEW
Net Sales up 13.7% at Rs 1375 Cr Vs Rs 1209 Cr
EBITDA up 28% at Rs 67 Cr Vs Rs 52 Cr
EBITDA Margin up 60bps at 4.8% Vs 4.2%
Net Profit up 56% at Rs. 25 Cr Vs Rs. 16 Cr
HCL INFOSYSTEMS : Q1FY18 REVIEW
Net Sales down 16% at Rs 685 Cr Vs Rs 823 Cr
EBITDA Loss at Rs 11 Cr Vs Loss Of Rs 12 Cr
AGRO TECH FOODS : Q1FY18 REVIEW
Net Sales down 2.6% at Rs 187 Cr Vs Rs 192 Cr
EBITDA stable at Rs 14 Cr Vs Rs 14 Cr
EBITDA Margin up 20 bps at 7.4% Vs 7.2%
Net Profit up 12% at Rs. 6.5 Cr Vs Rs. 5.8 Cr
Net Sales down 3.7% at Rs 787.2 Cr Vs Rs 817.4 Cr
EBITDA down 73% at Rs 21.17 Cr Vs Rs 78.95 Cr
EBITDA Margin at 2.6% Vs 9.6%
PAT down 77% at Rs 10.3 Cr Vs Rs 45.6 Cr
ADLABS ENTERTAINMENT Q1 FY18 REVIEW
Net Sales up 0.7% at Rs 86.78 Cr Vs Rs 86.18 Cr
EBITDA up 6.5% at Rs 32.4 Cr Vs Rs 30.4 Cr
EBITDA Margin at 37.4% Vs 35.3%
Loss at Rs 22.51 Cr Vs loss of Rs 19.22 Cr
L&T FINANCE Q1 FY18 REVIEW
Net Sales up 16% at Rs 2365 Cr Vs Rs 2030 Cr
EBITDA up 8% at Rs 1591Cr Vs Rs 1473 Cr
EBITDA Margin at 67% Vs 72%
Net Profit up 49% at Rs 309 Cr Vs Rs 207 Cr
Van Dyck sells 3.9% Equity/Sh
Warhol sells 9.6% Equity/Sh
Ashish Kacholia brings 1.5% Equity/Sh
Bengal Finance & Investment brings 2.5% Equity/Sh
BNP Paribas Arbitrage brings 0.8% Equity/Sh
IDFC MF brings 0.6% Equity/Sh
Rajasthan Global Sec brings 1.1% Equity/Sh
Chrys Capital sells entire stake in KPIT Technologies
Chrys Capital sold entire 13.8% stake in company on account of fund closure
SHREE RENUKA SUGARS
Shree Renuka Sugars to consider fund raising
Microsoft collaborates with Sonata Software
Axis Bank to announce strategic initiatives
Snapdeal board clears the decks for sale of FreeCharge to Axis Bank
The proposed deal will value FreeCharge at Rs 385 Cr -Rs 390 Cr