MUMBAI: Suresh Prabhu will appraise you of the financial health of railways every three months. Prabhu, Minister Indian Railways, told a gathering of financial market representatives at the BSE on Friday evening that he will make it a norm to announce quarterly results for railways from now. This is the first time that railways will deviate from its norm of giving out key numbers only during its annual budget event. A brimming Prabhu told his audience that railways this time was not just meeting targets for the first quarter but exceeding them.
NEW DELHI: India's top five IT companies are likely to post modest sequential revenue growth of up to 3 per cent (in constant currency terms) in the traditionally weak March quarter, but they are expected to present an upbeat outlook for FY17, with some analysts projecting Infosys' annual guidance to beat even the most optimistic estimates on Dalal Street. Experts largely expect HCL Technologies and Infosys to lead growth during the March quarter, while Tech Mahindra and TCS are likely to face client-specific headwinds.
MUMBAI: Mindtree has decided to create a quarterly rolling plan for the next fiscal instead of a fixed yearly plan, as clients take longer to finalise budgets and the mid-sized IT player grapples with the uncertain environment. The Indian IT sector has been buffeted two unexpected events--Britain’s vote to exit the European Union and Donald Trump winning the US presidential election. Both have clients worried and, as a result, spending and decision making has been delayed. “There’s a lot of uncertainty. Clients are creating different budgets for different scenarios.
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 high January-March GDP growth figure of 7.5 per cent, which elevated India to the position of the fastest growing large economy in the world, even ahead of China for the comparable period, may be short-lived as there is a high probability of its downward revision in about three months. This is partly because in the new method to calculate India's GDP, the government captures revenue and profit numbers of about 5 lakh companies registered with the Ministry of corporate affairs (MCA21 list).
MUMBAI: Shares of software exporters, including Tata Consultancy Services (TCS), Infosys and HCL Technologies gained on Friday after Accenture raised its full-year revenue guidance for the third time and its quarterly profit and revenue exceeded market estimates. Analysts said Accenture's results and management commentary reflect a positive global demand environment for IT services. The company's revenue growth guidance suggests an improving environment for discretionary spending.
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.
NEW DELHI: Growth of job creation decelerated significantly in 2015 as some key sectors such as automobiles and gems and jewellery saw layoff of workers, Parliament was informed today. The total employment generation in 2015 stood at 1.35 lakh compared with 4.21 lakh in 2014, Commerce and Industry Minister Nirmala Sitharaman said in a written reply to the Lok Sabha, quoting the Labour Bureau's quarterly quick employment survey. The minister, however, said there was a net additional employment of 43.72 lakh (persons) since January 2009.
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.