Page 38 - Krishna Kant

Tata companies lose ground in current rally; m-cap at seven-year low

M-cap up 29% since end-March 2014, against 72% rise in combined m-cap of all listed companies

High real interest rates, strong rupee bring FPIs to debt market

However, risks are also increasing and could trigger a change in the trend seen so far

Broader market valuation at all-time high even as key indices appear cheap

Valuations are steeper for foreign investors

Videocon eyes oil revenue to pare debt

Videocon Industries has debts of Rs 44,000 cr despite Rs 20,000 cr asset sales in last three years

Little to cheer about in early bird results

Net profit growth decelerates to 8.6% on raw material cost pressure and weak demand

FDI buoyancy missing in capex of listed MNCs

MNCs have cut back on fresh investment despite a sharp improvement in their profitability

India Inc's dividend pay at record high

In the past 5 years, payout has grown at 11.9% every year; net profit has declined at a rate of 0.6%

Stock markets slip into expensive territory once again

Bellwether index trading at P/E ratio of 22x; market cap to GDP at 81% is among highest in EMs

D-Street over demonetisation? Sensex valuation back to pre-note ban levels

Index is trading at 21.3x its underlying trailing 12-mth earnings, against 20.9x on Nov 8 last year

Interest rate cut: Small relief for indebted firms

Interest rate cuts have not reduced cost of funds for corporates in the past

Demonetisation hits financial sector's weight in Nifty

Banks and financial services lose out to information technology and power firms

Demonetisation impact on corporate: When things were beginning to improve

Biggest impact will be on the informal sector that accounts for the bulk of the GDP and employment

Opec-Russia combine may harden oil prices

With Russia, the oil cartel accounts for 53% of world crude production, based on 2015 data

ECB repayment turns costly for India Inc as rupee weakens

Nearly $50 bn loans due for repayment in FY17 & FY18, making India Inc liable to currency volatility

Karachi, Dhaka set to beat Mumbai, again

For second year in a row, BSE Sensex is likely to underperform Karachi, Dhaka stock indices

Rising commodity prices may squeeze India Inc margins

After a 500-basis point gain over the past six quarters, India Inc's Ebitda margins will be under pressure on rising metal and energy costs

Eight years later, India Inc more vulnerable

Corporate indebtedness is now twice what it was before global financial crisis; banks' bad loans ratio is 3.5 times higher

Modi govt yet to match UPA's economic record

GDP the only variable where the current government has kept pace with the previous one

Demonetisation hits the status of rupee as a storehouse of value

The fear of appropriation by the government could force savers to move away from rupee to gold, real estate and dollar assets

Cash crunch shadow on Sensex earnings

The 2008 global financial crisis changed corporate India's earnings trajectory. Demonetisation has the potential to inflict similar damage