INDIA INC’S PAT TO GROW AT 23% THIS FISCAL

India Inc is likely to witness a 22.8% growth in its profit after tax (PAT) in the current fiscal, an economic think-tank has said in its report. “Corporate sales growth will average at a meagre 4.1% in 2009-10. At the same time, the PAT will rise by a robust 22.8%,” the Centre for Monitoring Indian Economy (CMIE) said in its latest report.

The manufacturing sector (excluding petroleum sector) would report a 24.3% growth in PAT mainly because of low prices of raw material and soft interest rates, CMIE said, adding that the PAT of the financial and non-financial services would rise by 32.2% and 20.4%, respectively.

The Financial Express

TECH MAHINDRA BECOMES NO 4 IN IT COS' LIST

Maimed and left gasping for a lifeline, Satyam Computer Services has finally found its new knight in shining armour, Tech Mahindra (TechMa).

The bidding process for the beleaguered software firm culminated on Monday with TechMa emerging as the highest bidder with an offer price of Rs 58 per share. TechMa's price outbid other suitors, engineering giant Larsen & Toubro and private equity player Wilbur Ross, by a comfortable margin. L&T's bid of Rs 45.90 per share and Wilbur Ross' Rs 20, were not even within striking distance of TechMa's deal-winning bid.

The Economic Times

PROFIT-FOCUSED INFOSYS NOW LOOKS TO GROWTH

In a significant change of strategy, India’s second largest software services firm Infosys Technologies Ltd has said it will focus on growth, even if this means lower profitability — a reflection of a tougher business environment where Indian software firms are finding it harder to grow, and a contrarian play for a company that has sometimes walked away from deals that would have meant lower profitability.

MINT

IT/ITES TO FUEL REALTY GROWTH IN ‘08

Demand for office space has traditionally been driven by the IT/ITeS sectors that comprise software development and processing centres. This is expected to be the largest demand driver in 2008 as well. Of the total expected supply of 82.8 million sq.ft.in 2008, IT related developments will garner the largest chunk.

Livemint

India could attract $20 bn investment in 2008

The year 2007 is clearly the year that saw the rise of private equity funds. According to those tracking the industry, $13 billion (which is approximately Rs 55,000 crore) was invested in Indian markets in 2007. Simply put, a relatively new segment of investors have entered the scene and have pumped in Rs 55,000 crore into Indian companies. Ask any investment banker, and he will call the year 2007 a watershed year as all mandates for fund raising were completed and he is on track to receive a hefty bonus.

The Economic Times
http://economictimes.indiatimes.com/Market_Analysis/
Experts_forecast_20_bn_investment_in_2008/
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