Enterprise Wireline Tariffs to Come Down – Reliance Communication
In an analyst call, the management of Reliance Communications have said that Wireline / Landline Tariffs are under pressure as Wireless Tariffs have fallen significantly and the company si facing pressure especially from the Enterprise Segment.
Other highlights of the call are – Although RCOM’s RPM declined 4.6% in Q310, its EBITDA margin was down 156 bp; management mentioned this was due to continued investments in network and higher Read more
TVS Motor’s January sales up 34%
Chennai-based two-wheeler maker, TVS Motor Company has reported 34% jump in its January sales. The company sold total 125,578 two-wheelers during the month under review against 93,729 units in January 2009.
On domestic front, it has clocked 37% growth in January 2010 by registering sales of 109,504 units as compared to 79,729 units in the corresponding period of the previous year. Read more
Harrisons Malayalam Infrastructure contract worth Rs 50.28 crore
Harrisons Malayalam has announced that it has signed a contract worth Rs 50.28 crore with KTDFC.
The contract involves construction of a central bus terminal for KSRTC at Trivandrum.
Harrisons Malayalam, part of the RPG Group, markets its tea products under ‘Harrison’s Gold’, ‘Mountain Mist’, ‘Surya’, and ‘Spencer’s’ brand names.
Sterlite Industries – Zinc + Power boost Q3 bottomline
Sterlite Industries consolidated PAT (adj) at Rs9.2bn in 3QFY10 rose 73% YoY (~7% below our estimates) gaining from an 83-87% jump in zinc-lead LME prices, better copper TC/RC margins and higher sales of power. Operating margin was 25% in 3QFY10 vs. 11% in 3QFY09 and 22% in 2QFY10.
Standalone (copper) PAT was Rs2.3bn. Operating profit rose 36% to Rs1.4bn and the operating margin was 3.8%. OPM was 61% vs. 26% last year due to 1) jump in zinc-lead prices; 2) 30% surge in lead volumes; 3) sale of 41,000t of zinc concentrate; 4) silver production up 44% YoY. Read more
Godrej Consumer Products – Lower market share in winter
Godrej Consumer Products indicated that its lack of glycerine soap does not allow it to enjoy stronger market share in winter. Hence, it lost a 40-bp market-share qoq. Its recently launched moisturising soap is expected to drive growth in winter.
Though palm oil prices continue to trend upwards (and are now up 51% yoy), GCP pointed out that the forward cover would allow it to improve margins, and will not compel it to hike prices. It indicated it has
such cover till Apr 10. Read more
JSW Energy Trading just 2.5% above IPO Price – Powerless Listing
JSW Energy which raised money in the capital market last month listed on the bourses today and is trading at Rs 102.50, just 2% above the IPO issue price of Rs 100. Experts on Dalal Street had AVOIDED the issue since the price range during the IPO was Rs 100 to Rs 115 and had the management issued it at the upper band like all others did, then it would have been trading at 10% discount. Read more
Hindustan Construction bags order from Indian Strategic Petroleum Reserves
Hindustan Construction Company (HCC) has informed us in a message that the company just a while ago received a prestigious contract worth Rs 374.66 crore from Indian Strategic Petroleum Reserves (ISPRL), New Delhi.
The company has bagged the order for construction of civil works for an underground rock caverns for Strategic Storage of Crude Oil Project at Padur in Karnataka. The project will be completed in 3 years.
HCC is already constructing India’s first strategic crude oil storage of 1.33 million tonnes capacity in Vishakhapatnam, Andhra Pradesh.
How Indians Can Settle Credit Cards + Loan EMIs – A Relief Package
Indian Banks in a bid to expand their market share in Housing Loans, Auto Loans and Credit Cards, lent recklessly over 2004 to 2007 to any consumer without even verifying the credentials. Now, they are facing rapid defaults and are causing a misery to the Indian borrower. The RBI aware of this situation, has instructed BCSBI an independent body [it is as good as Government as it was formed by the RBI, so your data is safe with them] that looks into the functioning of Banks and Financial Institutions has started a separate counseling wing to identify genuine cases and negotiate a relief package. Read more
Big Bazaar likely to be Hived off by Feb-2010
Pantaloon Retail’s (PRIL) planned hive-off of Big Bazaar is on track and is likely to be consummated by February 2010, according to management. Pantaloon’s management indicates that hive-off of Big Bazaar and Food Bazaar is on track. The hive-off will pave the way for fund-raising at the Big Bazaar level and induction of a foreign food retailer. The latter, which management has hinted at in many forums, is likely to provide the next leg-up to Big Bazaar’s growth trajectory. Big Bazaar and Food Bazaar account for 70% of PRIL’s (standalone) revenues and 67% of its total retail space. Read more
Top 10 Hindi Daily Newspapers in India
Dainik Jagaran 565.57
Dainik Bhaskar 319.37
Amar Ujala 296.13
Hindustan 251.65
Rajasthan Patrika 136.57
Punjab Kesri 111.39
Aj 74.14 59.05
Navbharat Times 51.84
Prabhat Khabar 49.7
Nava Bharat (Mah/Chh) 51.83
All figures in Lakhs [100,000]
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