Indian airline passenger traffic, at 3.98 mn for March, represented 23.4% YoY growth, re-affirming our positive view on the sector. Airline seat factors came down for all airlines on account of seasonality. Market share for both Jet (including Jetlite) and SpiceJet largely remained unchanged. The Indian aviation sector clocked its highest annual traffic for FY10, at 46.3mn passengers (+17%
YoY), marginally beating our BofAML FY10 estimate. We expect strong 15% passenger growth for FY11, at 53mn passengers. Strong passenger traffic can partially offset the cost pressure related to rising ATF prices.
Total Income Tax Payers / Assesses in India
We have just received Information from the Ministry of Finance, Department of Revenue Assistant Director on the total number of Income Tax Assesses in India. Can you take a guess ? India’s population is around 1.1 bn while the Income tax assesses / payers are less than 4%. yes you have read that right. Here is how the Income Tax Payers Base in India looks like,
Era of Growth comes to an End at Infosys – Disappointing Results
Infosys Technologies Ltd , India’s leading Software Labor Arbitrage company announced the Audited Consolidated results for the quarter & year ended March 31, 2010 – The Group has posted a net profit after tax & minority interest of Rs 16170 million for the quarter ended March 31, 2010 as compared to Rs 16130 million for the quarter ended March 31, 2009. Total Income has increased from Rs 58870 million for the quarter ended March 31, 2009 to Rs 61420 million for the quarter ended March 31, 2010.
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Banks may raise rates after April RBI review
Ever since the Reserve Bank of India (RBI) hiked policy rates in a mid-cycle move in second half of April 2010, expectations of increase in pace of normalisation of the monetary policy stance have picked up. In case the RBI continues to tighten things aggressively in the forthcoming policy review scheduled for April 20, there is strong possibility that market rates too will start inching upwards.
India’s central bank, in line with most of its global counterparts, cut down policy and reserve rates sharply in a series of moves
RBI will have to act strong as inflation fails to ease
India’s inflation continues to dupe government and the monetary authority alike and just when it seems that prices are easing, they begin to rise again. Latest reported data of food inflation shows that the pace of rise in food commodities’ prices increased by more than a percentage-and-a-half within a week. Fuel price inflation too continues to remains at higher levels. Manufacturing inflation has already been seen rising sharply in last couple of months. All this is likely to result into a significant jump in headline inflation for March.
Read moreRBI will have to act strong as inflation fails to ease
Impact Analysis of MphasiS acquiring Fortify Infrastructure services
MphasiS is to acquire Fortify Infrastructure Services, a provider of offshore-based remote IT operations and management (ROM) services via an all-cash deal. MphasiS would be paying US$15.5m (upfront consideration) + earn-outs (over a period of two and a half years if certain financials are attained).
The acquisition should provide MphasiS access to Fortify’s accounts, an experienced management team (average
Read moreImpact Analysis of MphasiS acquiring Fortify Infrastructure services