News in Numbers – September 10, 2015

News In Numbers: September 10, 2015

 

Rs 50 lakh

The amount the National Stock Exchange (NSE) has been fined by the Mumbai High Court in a defamation case it had filed against financial news website Moneylife. The bourse filed a Rs 100 crore defamation suit against Moneylife following an article written by Sucheta Dalal alleging that NSE staffers were leaking sensitive information related to high-frequency trading, which helped a select set of investors to trade faster than their competitors. Despite repeated requests by Moneylife, NSE did not participate in the story. According to Hoot, a media watch website, there were 21 instances of defamation cases and legal notices being filed by politicians, business houses, lawyers, former judges and media houses to book publishers, advertisers, other media houses and journalists in 2014.

 

7.5%
Share of revenue Infosys expects to earn by way of acquisitions of the total 2020 target revenue of $20 billion. The Bengaluru-based IT firm is working towards a 30% operating margin and $80,000 revenue per employee in another five years. In 2014-15, Infosys earned $8.7 billion in revenue. Quoting the way Accenture and Cognizant have acquired other companies, Vishal Sikka, managing director and chief executive of Infosys, said they need to do something similar without copying them. The company has made two acquisitions this year. Since the beginning of 2015, Accenture has acquired nine companies.

 

1.9 percentage points

The amount by which global corporate profits as a share of global GDP will fall by 2025, according to a new study by McKinsey, the consulting firm. According to McKinsey, the share of corporate profits as a share of world GDP was 9.8% in 2013. By 2025, this will fall to 7.9% due to a range of factors. Increased competition as firms in emerging markets continue to expand beyond their borders is one major reason.  Another reason, McKinsey says, is the fall in labour costs and interest rates observed over the last few decades is unlikely to continue.

 

21.6%
According to a survey conducted by the Indian government, over a fifth of the toilets it has constructed are non-functional and effectively beyond use. The government has built 6 crore toilets. Chaudhary Birendra Singh, Union Rural development minister, said a change in mindset was needed to make people use toilets. The government is aiming to do away with open defecation under the Swachh Bharat mission by 2019. Over half a billion people in India – or 59% of the 1.1 billion people in the world — still defecate in the open, according to the World Health Organization.

 

400
The number of Indian railway stations Japan will help India redevelop by sending an official mission to “study the opportunities for industries”. Besides this, Japan has agreed to participate in Indian railways’ investment plan of $140 billion in the next five years and engage in technology cooperation for modernising and upgrading Indian railways. Japanese railways and companies would also assist India in its zero-accident mission. Indian railways posted a loss of Rs 30,000 crore in the passenger segment in 2014. Japan has announced a funding of $35 billion across various infrastructure projects over the next five years.

 

 

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News In Numbers – July 24

News In Numbers: July 24

 

Rs 70,000 crore

The cumulative unsold inventory of India’s major listed real estate firms as of March 2015, which is an increase of 23% from a year ago. This is nearly equal to the combined net sales of these companies in 2014-15. Between 2010-11 and 2014-15, house price inflation peaked at 28% during 2012-13, only to slide to below 4% in the third quarter of 2014-15. As real estate prices cool off across cities, people seem to be preferring financial assets such as mutual funds over physical ones such as gold and property.

 

90%

The share of algorithmic orders—orders determined, sometimes even generated, by a computer programme, as opposed to by human beings—in total orders on Indian stock exchanges. It is also the share of algorithmic orders in cancelled orders. In June, India’s central bank, taking note of such high numbers of automated orders, raised “concerns relating to systemic risks”. Yesterday, UK Sinha, head of the capital market regulator, said it was considering several measures to reduce risk in algorithmic trading. Such high-speed trading formed the backdrop to Flash Boys, the 2013 book by Michael Lewis that argued several Wall Street players were using it to game the market.

 

Rs 21,641 crore

Total revenue (excise plus sales tax) earned by the Tamil Nadu government from the sale of liquor in 2013-14. Recently, DMK chief M Karunanidhi promised to implement prohibition in the state if voted to power in the state elections in 2016, a complete U-turn on his party’s liquor policy. Some of the important schemes and subsidy programmes cost the Tamil Nadu government nearly Rs 27,000 crore, and a total prohibition is likely to hit the state’s finances, affecting these initiatives. The government expects over a fourth of its tax revenue in 2015-16 from TASMAC, a state-run chain of liquor shops.

 

$880 million

The amount that Indian pharma major Lupin is paying to acquire New Jersey-based GAVIS. At about Rs 5,600 crore, this is the largest acquisition by an Indian pharmaceutical company in the US. Lupin is paying over nine times the annual revenue of GAVIS. This is Lupin’s fifth foreign buy in less than 18 months. Four major pharma companies–Lupin , Cadila Healthcare, Torrent Pharmaceuticals and Aurobindo Pharma–have plans to raise a combined Rs 22,600 crore, mainly for acquisitions.

 

106

The number of vacancies for the post of independent directors on the boards of 32 public sector companies, including Coal India, ONGC and IOC. Since the BJP-led National Democratic Alliance came to power in May 2014, 106 independent directors have resigned or completed their terms. BHEL is the only PSU to appoint an independent director during this period. Last year, the market regulator had stipulated that boards of all listed companies should comprise at least 50% non-executive or independent directors, with at least one woman director.

 

 

 

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