FedEx announced a decrease in its quarterly profits by 31%, after it slashed its forecasts for 2013. In 2012, Indian companies have been engaged in near 72 acquisitions overseas with a total value of $11 billion. Chancellor George Osborne, promised that the British economy will retain its rate of growth as forecasted and said that he has a plan for the citizens who "aspire to work and get on". Airliners are expecting higher revenue to more than $10 billion or £7 billion in 2013.
MUMBAI: The Indian markets have bounced back after a steep correction and are moving towards all-time high levels. While the near-term movement depends on quarterly earnings, the uptrend is likely to continue in FY16. The benchmarks are expected to hit fresh highs in the current financial year as foreign institutional investors are likely to increase allocation to India as global factors turn favourable.
MUMBAI|BENGALURU: Natarajan Chandrasekaran is usually an epitome of quiet confidence and steely resolve. But on April 16, for the first time in years, the 51-year-old chief executive of Tata Consultancy Services was at a loss to explain India's largest software firm's quarterly performance and was unusually defensive while taking questions from journalists. Chandrasekaran's tone was reflective of the broader mood of India's $146-billion information technology industry, which endured one of its toughest years in recent memory.
MUMBAI: The highest ever quarterly profits that Reliance Industries posted for Jan-March 2015 last weekend have hardly changed analysts' views towards the company, with their 12-month forward price target remaining unchanged, shows Bloomberg data. RIL's average target price of 43 analysts at Rs 1,064 has gone up just 2.8 per cent fromRs 1,035 a year ago. A number of analysts maintain their 'Buy' recommendation on the scrip due to its lowly valuations, seeing it as defensive scrip.
Tata Motors is expected to announce its quarterly earnings today. Today the rupee tumbled again versus the dollar losing 63 paise to 61.40. Abbott Laboratories has reached a deal with Chinese regulators over a fine of near $12 million. A report by the National Institute of Economic and Social Research has showed that UK’s GDP has increased by 0.7% in Q2.