Posts Tagged ‘companies’
2 Jan
Fiscal deficit at $65.7 billon for Apr-Nov: Govt
Posted by smcinvestmentindia in Economy, General, india, Investment, SMC Global, telecom. Tagged: Acquisitions, Bharti Airtel, companies, Corus, Essar, Finance Minister, global crisis, gross domestic product, growing economy, Indian flag, Investment, Lakshmi Mittal, merger, MNCs, MTN, Pharma, Pranab Mukherjee, Reliance Industries, Reliance Petroleum, RIL, steel, Uttam Galva. Leave a comment
However, the direct tax collections by the government increased by a marginal 3.7% to Rs 1.83 lakh in the first 8 months of this fiscal. Further, in the personal income tax segment, the government collected Rs 70,262 crore, up 4.53% while in November, the tax collections were nearly similar to last year as the mop-up was Rs 10,375 crore.
23 Sep
India May Lead the Second Wave of IT Adoption :)
Posted by smcinvestmentindia in Business, Economics, Finance, Investment, IT, Online back office support, share market, SMC Research Based Advisory Services, Stock, Wealth. Tagged: Brazil, Business, business goals, China, companies, economic development, Economy, global economy, IBM, india, international markets, investments, investments in India, IT adoption, IT budgets, IT companies, Markets, share, small-and-medium businesses, SMBs, Stock, Technology, workforce. Leave a comment
As companies kept up investments in spite of the downturn and seemed more advanced than their counterpart globally it is said that India may lead the second wave of IT adoption.
IBM Corp. has come up with the concerned statement.
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According to the IBM survey, 40% of Indian companies stated that they wanted to be first to take up a new technology, while 11% said they would wait till technology was widely available.
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Moreover, companies have cut back less and have really continued their investments in India which is balanced to lead the second wave of IT adoption whereas small-and-medium businesses (SMBs) are the engines motivating the economic development.
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On the other hand, recession forced 37% companies worldwide to decrease their IT budgets as compared to 15% in India.
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Further, the IBM recognized India as one of its main growth markets and will continue to invest here along with Brazil, China and Russia.
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Moreover, IBM plans to cash in on the business coming from SMBs representing more than 90% of all businesses employing over 90% of the worldโs workforce in order to produce more patents than large firms.
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22 Sep
44,000 Crores to be Raised by Indian Firms :)
Posted by smcinvestmentindia in Banking, Business, Capital Market, Company, Distribution of Mutual Funds & IPOs, Economics, Equity & Derivative Trading, Finance, financial planning, India corporate world, Investment, IPO, Mutual Funds, Private Equity, securities, share market, SMC Depository, SMC Research Based Advisory Services, Stock, Trading. Tagged: Ansal, Banks, companies, corporate India, corporates, equity, Essar Oil, Fiscal, funds, Hindalco, Indian Corporates, indian shareholders, interest rates, IPOs, Jet Airways, JSW Steel, large-cap funds, market, mid-cap funds, Mutual Funds, Omaxe, Pantaloon Retail, Private Equity, promoters, QIP, QIP issuance, QIP issue, QIP route, qualified institutional placement, RCom, Sebi, Securities and Exchange Board of India, share market, shareholders, SMC capital, stock market, Tech Mahindra. 1 comment
Indian corporates raised Rs 21,691 crore through the qualified institutional placement (QIP) route during the first half of this fiscal and the funds raised through this route are expected to double in the second half.
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Mr Jagannadham Thunuguntla, the equity head of SMC Capital, said: “As of now, about 48 companies have received requisite resolutions from either shareholders or their boards to raise the funds through QIP route. The total amount proposed to be raised by these companies is about Rs 44,000 crore.”
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He further said: “As there is no requirement for the approval of the Securities and Exchange Board of India (Sebi) for the QIP issuance. These companies are ready to offer their QIP whenever they are confident about the market conditions.”
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“Some of the prominent names of the corporates that would be raising funds through this route include Tech Mahindra, Essar Oil, Hindalco, RCom, Omaxe, Pantaloon Retail, Jet Airways, Ansal, JSW Steel and L&T,” he said.
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It seems that the Indian promoters have regained their confidence and enthusiasm for fund raising, he added.
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It is turning out that corporates are raising funds through QIP route as a last alternative and not as a preference.
Most of the IPOs launched in the last seven to eight months had put up a flop show.
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The bank funds that are another source of funding are not available for most of the corporates.
Depending upon the sector and profile, banks are asking for premium over interest rates and for smaller companies, banks are not offering loans.
So the corporates that are looking for the expansions would opt for the QIP route to raise the funds, Mr Thunuguntla added.
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