Airtel Q2 net profit falls

The net profit of Airtel fell 30% to Rs. 721 crore This is the 11th consecutive quarter loss shown by Airtel

The company is battling rising costs & slowing growth

in its primary market

The company has blamed higher tax outgo,

depreciation costs & intense competition (from Vodafone & Idea) for the decline in profit on all mobile cos, which could lead to Airtel facing payouts to the tune of thousands of crores

The Govt is planning to charge a 1 time spectrum fee

Airtels African operation, Zain, has also performed

poorly over the years

Samsung Galaxy S3 tops smartphone mkt

Samsung Galaxy S3 became the worlds best selling smartphone,

overtaking the Apple i-phone 4S It has been reported that 18 mn units of S3 were sold in Q3, compared to 16.2 mn of iPhone 4S

ONGC Profit slips by 32%

Indias largest profit making listed company,

ONGC, showed a 32% dip in profits Mainly due to a spurt in subsidy burden, margins and revenues decreased and costs rose Under the government directive ONGC had to extend Rs 12,330 crore of discounts to the three oil marketing companies (IOC, HPCL & BPCL) which was more than twice their burden This led to a 12.4% drop in the company's net revenues at Rs 19885.1 crore

Obama 2.0 and its effect on India

An Obama victory makes it less possible that USA will

fall off the so-called fiscal cliff

Obamas re-election can give a boost to generic

healthcare companies in Mumbai, which can broaden the market for drugs the healthcare systems around the world, with around 90% of all diseases being managed through them as the best news for IT outsourcing industry

There is now an aggressive push to the use of generics in

The re-election of Obama, however, is not considered Obama in his presidential elections campaign had

criticised outsourcing of jobs to countries like India saying that US needs to create jobs locally

TCS becomes most valued firm in India

TCS emerged number 1 on Business Todays BT

top 500 Indian companies, overtaking RIL, lead by Mukesh Ambani

TCS had an avg mkt cap of Rs.244121 crore,

while RIL had Rs.242496 crore as the mkt cap coming 12 months to be better for the technology industry.

TCS , lead by N Chandrasekaran, expects the

A fall in gross refining margins in its refining

business, lower profitability in its petrochemicals division, and other businesses like retail, finance, and telecom, which are yet to scale up, left RIL reeling at no.2