Krishna Kant
Krishna Kant
Page 55 - Krishna Kant
Balance sheets of Indian companies worsened in FY13
Just 28 firms accounted for nearly 75% of total borrowings but financial ratios in some of the most indebted sectors have begun to stabilise
 "Balance sheets of Indian companies worsened in FY13")
Havells' low-cost dilemma
Its entry into low-cost switches with Reo has teething problems; scaling up its network is one of the solutions
 "Havells' low-cost dilemma")
Diversification losing sheen on D-St this yr
Bigger and broader indices do relatively poorly as investors get selective; experts see opportunity if scrips chosen with care
 "Diversification losing sheen on D-St this yr")
Top builders sitting on Rs 58,000-cr inventory
Nearly a third accounted for by DLF alone; HDIL's share 20%
 "Top builders sitting on Rs 58,000-cr inventory")
Nifty is not a value buy any more
In past three years, there has been a steady decline in the return on equity for Nifty companies
 "Nifty is not a value buy any more")
Tough call on infra loans
Borrowings by top 17 construction and infra firms have jumped over five times since 2008 and now exceed their revenues
 "Tough call on infra loans")
Crisis separated the men from the boys
While most Indian companies suffered after 2008, many scaled back to pre-crisis highs and raced ahead of their peers
 "Crisis separated the men from the boys")
TCS is now second among world's most valuable IT firms
With a market cap of $60 billion, exceeds Accenture and HP but trails IBM
 "TCS is now second among world's most valuable IT firms")
Rising US bond yield may put pressure on RBI to hike rates
Bond yields in US are now up 136 bps from their lows in May this year
 "Rising US bond yield may put pressure on RBI to hike rates")
As bond yields rise in the US, RBI under pressure to raise rates in India
The central bank will have to raise rates to maintain the spread between the bond yield in India and US
Kaveri Seeds banks on research to reap success
Increasing competition & supply glut seen as key challenges for one of the largest seed companies in India
 "Kaveri Seeds banks on research to reap success")
Outperformer Bajaj Corp shows FMCG companies the power of one
A single-minded focus on its most successful brand, Almond Drops, is the core theme of one of India's most profitable and fastest growing in its sector
 "Outperformer Bajaj Corp shows FMCG companies the power of one")
2004 once more: IT back as market bellwether
The stock market comes full circle; pharma also gains prominence, courtesy rupee depreciation
 "2004 once more: IT back as market bellwether")
Market gravity moving towards defensive stocks
IT and pharma account for a fifth of the Nifty, against about 15% at the beginning of the year
 "Market gravity moving towards defensive stocks")
Rating downgrade threat: What does it mean?
Passage of the food bill has led to speculation on the prospects of a rating downgrade for India
 "Rating downgrade threat: What does it mean?")
Govt banks will find it difficult to raise equity
Seven banks are trading at a third of their book value. Another 11 are trading at less than half of their book value, indicating investors' pessimism about the sector
 "Govt banks will find it difficult to raise equity")
Upward pressure on interest rates
Else, more capital outflow and pressure on rupee likely
 "Upward pressure on interest rates")
RBI diktat to be no sweat for India Inc's big boys
Top firms will have enough firepower to go for foreign M&As, given their balance sheet growth, say bankers
 "RBI diktat to be no sweat for India Inc's big boys")
A third of India's top firms face severe debt crisis
M-cap of 35% of BSE-500 companies, excluding financial ones, is below their debt or just a shade above
 "A third of India's top firms face severe debt crisis")
Pitfalls of investing in commodities
A commodity is not an investment product that you buy and hold for the long term
 "Pitfalls of investing in commodities")