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Tech and healthcare to boom in FY 2006

According to an estimate India’s healthcare and technology sectors are expected to post the highest year-on-year growth in earnings in the fiscal year to March 31, 2007 as the economy’s services industry expands.

India’s top 100 listed companies are forecast to post slower earnings growth of nearly 14 per cent in the year to March 2007, compared with a 26 per cent rise in the year to March 2006, data showed.

The healthcare sector is forecast to post a 42 per cent rise in earnings in the year to March 2007, while technology is expected to grow by about 32 percent on a continued outsourcing boom in Asia’s third-largest economy.

Other major sectors — including energy, industrial, financial services, consumer goods and telecommunications — are forecast to post earnings growth of between 3 and 22 per cent. Only utilities will decline by 6 per cent, the estimate data said. That compares with a 115 per cent rise in year-on-year earnings for the basic materials sector — reflecting the strong demand for metals — and a 42 per cent rise for the industrial sector in the year to March 2006.

Analysts expect the Indian economy to grow by 7.6 per cent in 2005-06.


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