สรุปข่าวเศรษฐกิจอินเดียประจำวันที่ 6 สิงหาคม 2555
India Inc's net profits to grow by 24.5% in FY13: CMIE
Corporate India's net profits are expected to grow by a robust 24.5% in FY 13 on account of softening of commodity prices and steady interest rates, economic think-tank CMIE has said.
"We expect net profits of corporate India to grow by a robust 24.5% in FY 13, after falling by 0.6% in FY 12. The net profit margin of corporate India too is expected to inch up to 7.2% from 6.8% in FY2011-12," Centre for Monitoring Indian Economy (CMIE) said in its monthly review.
(Sources: Economic Times, Indiatimes, Business Standard, Zeenews, Moneycontrol)
Manufacturing key to achieve GDP growth above 6.5 pc: RBI
India needs to focus more on manufacturing in order to achieve GDP growth more than 6.5 %, Reserve Bank of India has said.
The manufacturing sector has the scope for creating jobs for millions of people who leave other sectors such as agriculture, RBI Governor D Subbarao said in his keynote address at Centre for Economic and Social Studies on Saturday.
India's economic growth rate slipped to 5.3 % in the fourth quarter of 2011-12, the lowest in nearly nine years, following poor performance of the manufacturing and farm sectors.
(Sources: Economic Times, IBNLive, Hindu Business Line, Tribune India)
8 sectors double shareholders' wealth in 4 yrs
Robust growth in sales and profits has helped them grow the combined market cap by 92 % to $ 305 billion during FY08-12.
Sectors which have done remarkably well, helping Indian markets shine are automobiles, auto ancillaries, banks, fast-moving consumer goods (FMCG), pharmaceuticals, tobacco producers, tyre makers and fertiliser companies. They have reported a compounded annual growth rate (CAGR) of 22.1 % and 19.5 % in sales and adjusted net profit during FY08-12.
The auto sector has been a star performer, with its net profits clocking a CAGR of 34 %, fastest among the eight sectors. New vehicle launches, cut in excise duties and low interest rates helped the industry.
(Sources: Business Standard, Moneycontrol, i4u, Indiatimes)
More of own stores & new malls hit retailers' sales in big cities
The rush of new stores and malls in cities such as Pune, Mumbai, and Chennai is eating into sales of existing outlets of retailers such as Shoppers Stop, the Future Group and others.
For instance, Shoppers Stop has seen a mere 2 % like-to-like (LTL) growth in the southern region in the first quarter of 2012-13 (and 10 % in the western region, mostly Mumbai and Pune) due to the cannibalisation effect, said managing director Govind Shrikhande. LTL sales growth refers to that from stores in the business for at least a year.
(Sources: Business Standard, Zeenews, IBNLive, Moneycontrol, i4u)
Toyota to launch its all-new premium luxury car Camry in India on August 24
Toyota Kirloskar Motor (TKM) is all set to launch this month its all-new new premium luxury car "Camry" in the country and it would be assembled at the company's Bangalore facility.
TKM, a joint venture between Japan's Toyota Motor Corp and the Kirloskar Group, had introduced Camry in India as a Completely Built Unit from Japan. Camry is one of the largest selling cars for Toyota globally.
TKM has reported a 7 % increase in sales at 14,574 units during July 2012.It had sold 13,592 units in July last year.
(Sources: Economic Times, Business Today, Business Standard, Worldnews)
Without reform, GDP growth will fall below 6 pc: Planning Commission committee
A Planning Commission committee has cautioned that economic growth will slip below 6 % in the absence of reforms by the government.
It said the government would need to step up reforms in investment planning, incentive regime and strengthen regulators if it wants the economy to grow at 8-9 %.
External agencies also see moderation in growth ahead, with the International Monetary Fund (IMF) placing GDP at 6.1 % this calendar year, World Bank seeing 6.9 % for the fiscal, OECD at 7.3 %, and ADB at 6.5 %.
The RBI in its recent monetary policy has refrained from reducing key policy rates despite concerns of economic slowdown and demands from industry.
(Sources: Economic Times, Indiatimes, Indian Express, Zeenews, Moneycontrol)
JSPL to invest $18 billion by 2020 to raise capacity
Jindal Steel and Power (JSPL) plans to invest $18 billion to expand its capacity multi-fold to 20 million tonnes per annum in the next eight years, company chairman Naveen Jindal has said.
JSPL has a 3 million tonnes per year (MTPA) capacity at Raigarh in Chhattisgarh and is planning to commission the first phase of its 6 MTPA plant at Angul in Odisha by 2013-14. Besides, the company is also constructing a greenfield plant of similar capacity in Jharkhand.
(Sources: Economic Times, Indiatimes, Hindustan Times, Zeenews, Moneycontrol)
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