Archive for the ‘India corporate world’ Category

Services Sector Slows Down for Second Consecutive Month in August

India’s services sector slowed down for a second consecutive month in August as the pace of expansion comes down from a record high level seen in June, as reflected in the HSBC Services Purchasing Managers’ Index (PMI) based on a survey of 400 firms. However, even the current reading on the PMI is very robust and consistent with a fast expanding economy.

.

The headline seasonally adjusted HSBC Business Activity Index stood at 59.3 in August, falling slightly from 61.7 in July. This was the second successive decrease in the headline figure, even though it continued to signal a very sharp pace of expansion in the country’s service sector.

.

Earlier the manufacturing data too had shown some slowdown in expansion in August, although the absolute figure there too remained strong. Overall, the HSBC India Composite Output Index for the month of August stood at 60.3, down from 61.9 in July. However, the latest reading continues to remain consistent with a very rapid pace of growth in the overall economy.

.

Looking at the sub-indices, the index of incoming new business received by the service sector firms increased markedly during the month, boosted by the ongoing improvement in global economic conditions as well as strong domestic demand. The survey also revealed that the latest growth was faster than that posted in July. All the six sectors monitored under the survey indicated that new business had risen during the month.

.

Further, despite the sharp rise in output recorded during the month, backlogs of work with the service sector companies continued to rise in August. It clearly indicates increasing capacity pressures being faced by the economy. A similar finding was also revealed by the manufacturing PMI, thus indicating that overall economy was under capacity pressures and growth could slow down until the pace of investment picks up.

.

In a related inference, the August data signalled a marked increase in input costs faced by Indian service companies. This is an expected development when capacities come under pressure. The latest rise in input prices was driven by higher purchasing costs and wage inflation. The survey indicated that while the rise in costs in August was marginally lower than the previous month, it was nonetheless strong in the context of the historical data.

.

Overall, the services sector as well composite business activity seems to be doing pretty well for now. The recent slowdown reflects that capacities are getting filled and therefore pressures on cost side are building up. Commenting on the India Services PMI survey, Frederic Neumann, Co-Head of Asian Economics Research at HSBC said, “Service sector activity, which in India accounts for the bulk of economic output, slowed a little last month. But, monetary officials can hardly afford to relax their guard. Growth remains strong, and there are few signs that input and output price pressures are letting up meaningfully. Both employment generation and outstanding business remain consistent with a robust, ongoing expansion.”

.

OUR Websites:  http://www.smcindiaonline.com,http://www.smccapitals.com,
http://www.smctradeonline.comhttp://www.smcwealth.com

.

Share/Bookmark

Advertisements

More Hybrid Varieties of Tur/Red Gram Set to Hit Market

Hello Friends here we come up with the Latest Agri Commodities updates from various parts of the country.

.

More hybrid varieties of Tur/Red Gram set to hit market

.

More hybrid varieties of Tur/Red Gram set to hit market

.

The Hyderabad-based International Crops Research Institute for the Semi-Arid Tropics (Icrisat), a non-profit, non-political agricultural research organisation, is set to release three new hybrid varieties of pigeon pea (tur or red gram) for commercial multiplication by seed companies, a senior scientist said.

.

“After the commercialization of cytoplasmic male sterility (CMS)-based pigeon pea hybrid (ICPH 2671) two years ago, we have developed three more hybrid varieties.

.

The test results are promising and we will give parental lines to seed companies for multiplication later this year,” CL Laxmipathi Gowda, Global Theme Leader, Crop Improvement and Management, Icrisat, told reporters.

.

🙂

In Other major Commodities Update, there are news of Cane farmers in Maharashtra set to rake in at least Rs 4k crore of additional income in the current 2009-10 season and South India planters’ income dropping to Rs 1,479 cr.

🙂

.

Cane farmers to reap bonanza

.

Cane farmers in Maharashtra are set to rake in at least Rs 4,000 crore of additional income in the current 2009-10 season due to better prices paid by sugar mills.

.

During the previous 2008-09 season (October-September), mills in the State crushed 400.27 lakh tonnes (lt) of cane and paid an average final rate of Rs 1,513 a tonne to growers at their farm-gate.

.

That translated into a total income of Rs 6,056 crore for the farmers.

.

For the ongoing season, total crushing is expected at 455 lt, with the final farm-gate price of cane averaging around Rs 2,250 a tonne.

.

That would result in an income of Rs 10,237 crore or Rs 4,181 crore more than what was paid out in 2008-09, said Mr Prakash Naiknavare, Managing Director, Maharashtra State Cooperative Sugar Factories Federation.

.

🙂

.

South India planters’ income drops Rs 1,479 cr:

.

Going by the production figures and prices for coffee, tea, rubber, pepper,cardamom and vanilla, the plantation owners earned a total of Rs 14,834.84 crore in 2008.

.

In 2009, it dropped to Rs 13,355.51 crore.

.

Plantation industry sources said the data on the lower income for the growers do not take into account the rise in production costs.

This means, the plantation sector, as a whole, could have taken a bigger hit.

.

The drop in rubber production has been a big drag on the income of the planters, who had to cope with Rs 10 a kg fall in prices.

.

The average price in 2009 was Rs 97.56 a kg against Rs 107.74 in 2008.

.

Currently, rubber prices average over Rs 130 a kg.

.

🙂

.

Note : For More Latest Industry, Stock Market and Economy News and Updates, please Click Here

How To Get Started in Online Investing? Final Part

Hello Friends here we come up with an extension of our previous blog “How To Get Started in Online Investing?” Part 1.

.

How To Get Started in Online Investing?

.

In previous blog, we have touched upon the questions, any beginner investors do have in their mind while going for investing.

.

At the same time we had also tried to look in previous blog that what is Online Trading, resources needed first of all to invest online, few steps to start investing online and how SMC ONLINE helps investors in reaping the benefits of online trading.

.

In this Blog, we would try to discuss about what are the further steps an investors need to take once the initial registrations are done with.

.

🙂

.

Once the registration formalities are done with, you would be required to load your online investing trading account with funds.

.

Once Funds would be deposited you would need to look out for the stocks on which you would like to invest prima facie.

.

One thing you should bear in mind that before investing, you should do the in-depth research about the company’s profile, performances and services.

.

In this respect investing firms like SMC ONLINE comes to your rescue usually by helping you with their excellent research support, stocks recommendations and quality statistics.

.

These things are really very important while you invest in buying the shares of any company.

As a wise investor you should keep your eyes open, and don’t blindly trust anyone.

.

Another very important thing is RISK FACTOR.

.

You’ll have to take the risk in terms of investing your money in the stock market.

Stock market is a bit similar to gambling.

.

But there is a big difference between the risk and calculated risk.

For a beginner, you should only go for calculated risk.

.

Don’t put your entire money in terms of buying the shares of a new company, even if the future potential of that company seems very high.

.

Start slowly, understand the market, earn some decent amount of money first of all and then go for big trading.

.

Once you have gotten started, you should start by learning a little bit about chart reading.

If you can read the charts you will have a good idea what is going on.

.

And as I said earlier, I would conclude this topic by saying that any beginner investor should look for a broker firm that gives good value for money with their commission fees.

.

🙂

.

Stay Tuned for more and more on this 🙂

.

However For More latest Industry,Stock Market and Economy News Updates, Click Here

Domestic Economy Rolls as Corporate India Offers 40% More Bonus Shares

Domestic Economy Rolls as Corporate India Offers 40% More Bonus Shares

.

Issue of bonus shares by Corporate India to its shareholders in the first 10 months of the fiscal has shot up 40% over the total during the fiscal ended March ‘09, after declining for two straight years.

.

This interesting jump in bonus issues indicates positive sentiment of the corporate sector to serve a larger equity base.

.

Companies like Britannia, TCS, Reliance Industries, Adani Enterprises, Jindal Steel, Divi’s Lab, JP Associates etc  have  issued bonus shares in the April ‘09-January ‘10 period.

There are as many as 61 companies which have done so.

.

Jagannadham Thunuguntla, equity head with Delhi-based merchant bank SMC Capitals, said:  “The increase in companies doling out bonus equity to its shareholders reflects that the domestic economy is on the path of recovery.”

.

Corporate India has got the confidence to expand equity capital base and issue bonus shares owing to the fact that they have performed very well this fiscal.

.

Bonus issue is an offer of free additional shares to existing shareholders.

This is one of the ways of rewarding shareholders, who largely benefit from capital gains.

.

A company may decide to distribute further shares as an alternative to increasing the dividend payout.

It is also known as a “scrip issue” or “capitalization issue”.

.

The number of companies issuing bonus shares declined more than a quarter after hitting a peak in 2006-07 to 72 firms in 2007-08 and shrunk further to just 44 companies for the year ended March ‘09.

.

This came after three consecutive years of rise in number of bonus issues, when more listed firms announced a bonus bonanza in line with the bull run of the stock market.

.

Bonus shares are issued by companies through capitalization of their free reserves.

When a company announces bonus issue, it is an indication of its management’s confidence to serve a larger equity base.

.

🙂

Global Coffee Output May Dip 3.6 Per cent in the 2009-10

Hello Friends here we come up with the Latest Agri Commodities updates from various parts of the globe.

.

Global Coffee Output May Dip 3.6 Per cent in the 2009-10

.

Global coffee output may dip 3.6% : ICO

.

Global coffee output may dip 3.6 per cent to 7.41 million tonnes (mt) in the 2009-10 crop year on fall in production in Brazil and Africa, the International Coffee Organisation (ICO) said.

.

Adverse climatic conditions in few growing regions may also affect crop quality, it added.

.

Last year, world coffee output had stood at 7.69 mt, it said, adding that the estimate for this year is preliminary as data from Colombia and Vietnam is pending.

.

“With factors such as a prolonged dry season and high levels of coffee berry borer infestation, there appears to be little possibility of an increase in global production,” ICO said in its latest market report.

.

🙂

In Other major Commodities Update, there are news of rabi productions falling short of expectations and Uttarakhand government seems not to be increasing the sugar price.

🙂

.

Rabi output may fail to meet estimates:

.

All eyes are now on the estimates for the rabi crop this year.

A good winter crop (rabi) will help augment the foodgrain supply and ease food prices.

.

Hopes of a good crop have been fuelled by favourable weather conditions and the greater thrust on increasing the rabi crop.

.

The Union agriculture ministry has already indicated that the rabi season, this year, may see an additional 10 million tonne (mt) of output over the past year’s production, implying a growth of 8%.

.

This optimism on the rabi crop has prompted the Central Statistical Organisation or CSO — the government’s statistics arm — to estimate a meagre fall of 0.2% in agri output this year despite a 16% fall in the kharif (or summer crop) output due to the deficient monsoon.

.

🙂

.

Uttarakhand not to increase sugarcane price:

.

The Uttarakhand government seems to be in no mood to increase the price of Rs 215-220 per quintal for sugarcane despite a hefty increase by private sugar mills.

.

In the first week of December, the government announced the state advised price (SAP) of Rs 192-197 at a time when farmers were agitating for a price of Rs 250.

.

But soon, the private mills began paying heavy bonuses to farmers in the face of acute shortfall in a desperate bid to keep the factories running.

The government too decided to give bonus with a final price of Rs 215-220.

.

🙂

.

Note : For More Latest Industry, Stock Market and Economy News and Updates, please Click Here

Farm Production likely to Go Down

Farm Production likely to Go Down

.

Due to decline in kharif production on account of drought and floods in several parts of India,the output from agriculture sector is expected to decrease by 0.2% in the current fiscal against 1.6% growth in the previous year stated the Central Statistical Organization (CSO).

.

However, late last month, the RBI in its Q3 review of the monetary policy had projected that the agricultural GDP growth in 2009-10 is likely to be near zero.

.

Production of foodgrains and oilseeds is likely to decline by 8% and 5% in the 2009-10 crop year compared with the previous year.

.

The sugarcane output is likely to dip by 11.8% and that could add up to pressure on the sugar prices.

.

Meanwhile, among the horticultural crops, production of fruits and vegetables is expected to increase by 2.5% and 4.8%, respectively, in 2009-10.

.

Rice production is estimated to be 71.65 million tonnes in the 2009-10 kharif season as compared to the actual production of 84.58 million tonnes in the previous season.

.

On the other hand, production of coarse cereals is also likely to fall to 22.76 million tonnes from the actual production of 28.34 million tonnes in the 2008-09 kharif season.

.

🙂