Highlights of the meet

The company reported 8% increase in revenues to Rs 229.85 crore in FY'10 compared to Rs 212.33 crore in FY'09 while bottomline of the company was up 4% to Rs 193.92 crore.

During FY'10, Tata Investment Corporation took advantage of the relatively high stock market prices by booking larger profits from sale of investments though there was a slight decline in dividend income.

The Net Asset Value (NAV) of the Company's equity share, as computed by the management, was Rs.715/- per share as on 31st March, 2010, after taking into account the higher equity capital and the increase in tax rates. On a like-to-like basis as the previous year, the NAV would have been Rs.1,040 on 31st March, 2010 compared to Rs.515 on 31st March, 2009

FDI and FII inflows during FY'10 reached a peak level of USD 35 billion of FDI funds and USD 25 billion of FII funds. FII money has been a major contributor to the upsurge in the stock market during FY'10 with the BSE Sensex increasing by 80% (from 9700 in March 2009 to 17500 in March 2010) and the BSE-200 Index increasing by 93% (from 1140 in March 2009 to 2200 in March 2010).

The corporate sector continues to benefit from the higher growth rate however, the ability to absorb the higher input costs across the board would depend on the ability of different industries to offset such higher costs through increased prices and cost-saving measures

The investment portfolio consists of 197 odd scrips of listed and unlisted companies as on 31 st March 2010 compared to 178 scrips as on 31 st March 2009.

Availability of adequate liquidity of funds at reasonable rates of interest will be important factor for the corporate sector considering the Government's own large requirement of funds and also the requirements of the large infrastructure projects which the country badly needs.

It is difficult to predict the trend of the stock market during FY'11 partly due to the unpredictability of capital inflows or outflows