November 20, 2002
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Money > The Economy: Mid-Year Review - V November 20, 2002 |
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Steel, auto, IT sectors prime gainers on salesKishor Kadam in MumbaiA sector-wise analysis of the top 500 companies in terms of sales for the quarter ended September 2002 shows that industries such as steel (hot-rolled and cold-rolled products, and galvanised pipes), automobiles (commercial vehicles and 2/3 wheelers) and information technology showed excellent growth in their top lines. Pharmaceutical, cigarette, steel (composite and alloy steel), cotton textiles, cement, power and refineries have faired badly with a modest growth in sales. The shipping, telecom, personal care, fertilisers and hotel sectors reported a decline in sales. The nine steel companies (HR, CR, GP) in the list recorded an aggregate 51.4 per cent rise in sales. Bajaj Tempo and Tata Engineering were the major contributors in the commercial vehicle sector which posted a sales growth of 23.8 per cent. The 2/3 wheeler segment (seven companies) reported a 20 per cent jump in sales. Of this, the sales of TVS Motors grew by a healthy 64.4 per cent, Hero Honda up by 19.0 per cent and Bajaj Auto up 12.3 per cent. The aggregate sales of the information technology industry (25 firms) grew by 19.6 per cent to Rs 4,609 crore during the quarter. Software major Infosys Technologies posted a 35.3 per cent topline growth. Other gainers include Satyam Computer at 17.0 per cent, Wipro 13.0 per cent and HCL Infosystem 74.0 per cent. During the quarter, the pharmaceutical industry (31 firms) recorded a sales growth of 14.9 per cent to Rs 5,689 crore. Ranbaxy Laboratories showed a 49.4 per cent growth in sales on the back of a 98.5 per cent rise in exports. Among other pharmaceutical firms, Aurobindo Pharma (sales up 22.9 per cent), Nicholas Piramal (18.7 per cent) and Cipla (17.0 per cent) were the major gainers. Dr Reddy's Laboratories, on the other hand, showed a 13.5 per cent decline in sales as the sales during the corresponding previous quarter include exports worth Rs 163.94 crore (Rs 1.639 billion) from fluoxetine in the US. Integrated steel firms were benefited by a series of rise in steel prices during the first-half of the current year. The steel companies recorded a combined 12.6 per cent rise in sales with Tata Steel showing a 14.2 per cent rise in sales and Steel Authority of India showing a modest 6.3 per cent jump in sales. Owing to lower price realisation, cement firms logged a 8.5 per cent rise in sales despite Gujarat Ambuja Cement clocking a robust 27.6 per cent sales growth. ACC witnessed a 11.0 per cent rise in sales. Powered by ALSO READ:
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