Electrifying Results from REC – PFC Trying to Catch Up
July 23, 2010
REC reported strong disbursement in Q1FY11, of INR 46.4 bn (28% Y-o-Y), led by generation projects; disbursements in T&D were, however, relatively lower. Sanctions were robust at INR 228.8 bn – a growth of 51% Y-o-Y led by sanctions under the T&D segments and spillover from the earlier quarter.
REC reported earnings of Rs5.9bn (up 25% yoy; in line). But, excluding few oneoffs of last year (income tax-refund from earlier years Read more
De-merger of Unitech Infra from Unitech – 1:1 Ratio
July 19, 2010
Unitech has filed the amalgamation/de-merger scheme document for de-merger of its infrastructure businesses into Unitech Infra (de-merged entity) and amalgamation of two wholly owned subsidiaries of Unitech – Unitech Holdings and Aditya Properties
(Aditya Prop.) with Unitech
Post amalgamation, Unitech’s non-real estate businesses will be de-merged into Unitech Infra (comprising amusement parks, hotels, construction, telecom, transmission towers, property and township management, SEZs, IT parks and industrial parks). Read more
Indian Airline Traffic Flying High
July 16, 2010
Indian airline passenger traffic came in at 4.57 mn passengers for the month of June’2010 showing a strong 21.4% YoY growth broadly in line with our view. Sequential drop of 4.5% in traffic was on account of seasonality. YTD industry has shown a growth of 23.1% in FY11 at 13.6mn passengers. We expect the industry to show a ~15% growth for FY11, at 53 mn passengers. Seat factors for most airlines Read more
RNRL + Reliance Power – Merger of Two Empty / Shell Companies
July 2, 2010
Reliance Natural Resources’ (RNRL) and Reliance Power’s boards of directors will meet on July 4, to consider the merger of two Anil Dhirubhai Ambani Group (ADAG) companies. The companies have not yet disclosed any details of the proposed merger.
RNRL is a Shell company which was supposed to get Gas from RIL but failed to secure so after Master Manipulation by RIL and the Read more
India’s GST – A Great Step
June 30, 2010
Recent media reports suggest that the Centre and states have agreed over some of the critical issues involved in the goods and service tax (GST). The governments are believed to have concurred on following issues:
Tobacco will be kept within the ambit of GST. However, the Centre will levy excise duty over and above GST. Alcohol, petroleum, and Read more
Sun Pharma – Comptan Settlement – A Positive
June 23, 2010
Sun Pharma & Orion have settled their US patent litigations over Comptan & Stalevo (Parkinson’s disease). While it would enjoy sole exclusivity in Stalevo 100 & Stalevo 150, it would be the second generic entrant in other versions of Stalevo & Comptan.
Sun can sell 25/100/200 mg (Stalevo 100) & 37.5/150/200 mg (Stalevo 150) Stalevo tablets from 2 Apr 1 12 – will have sole Read more
