Archive for November, 2008
Credit Suisse on India Cement Sector
? An analysis of the impact of the ongoing liquidity crunch on the
India cement sector shows that most companies appear to be
comfortably placed in terms of liquidity.
? Most cement players do not have high amounts of leverage, and a
large proportion of existing loans are fixed rate debts. Floating
rates on working capital loans have increased by [...]
NTT DOCOMO and Tatas in Alliance in India
Mumbai: NTT DOCOMO, INC. (DOCOMO), Tata Teleservices Limited (TTSL) and Tata Sons Limited—the prime promoter for Tata companies including TTSL—today announced their agreement on a strategic alliance in India, under which DOCOMO will acquire 26 per cent of TTSL’s stock for approximately Rs 13,070 crore (US $2.7 billion).
In addition, DOCOMO, in accordance with regulations of [...]
NCDEX and NSE float new power exchange
MUMBAI: The business operations of Power Exchange India Ltd (PXIL), an electricity exchange promoted as a joint venture between two of the largest and most respected exchanges in the capital and commodity markets respectively, NSE and NCDEX, was inaugurated by the Hon’ble Minister of Power, Shri Sushilkumar Shinde at a function held in New Delhi today.
PXIL [...]
Religare finalizes Rights Issue of Rs 1802 crores at Rs 355 per share
Mumbai: Religare Enterprises Limited (REL), one of the leading integrated financial services groups of India, in its Board meeting today has decided to go ahead with a Rights Issue subject to regulatory approvals. REL proposes raising of funds of Rs. 1802.48 crores through issue of shares on Rights basis (Rights Issue) in the ratio of [...]
Results Update: Mahindra & Mahindra Ltd (Q2 FY09)
ä Net sales up 11.6% yoy, driven by robust growth in volumes for UV and three-wheelers
ä Tractor volumes remain muted but realizations jump 25%
ä OPM declines 462bps yoy on account of higher raw material cost and lower octori duty refund
ä 89.1% yoy jump in other income restricts decline in profit
ä Bumper Rabi crop and farm [...]
Results Update: Godawari Power and Ispat Ltd (Q2 FY09)
Godawari Power and Ispat Ltd (Q2 FY09)
ä Strong realisations continue to bolster topline by 86.1% yoy
ä Rising raw material costs lead to a 520bps yoy drop in OPM
ä GPIL plans to sell higher amount of sponge iron than billets in the next two quarters
ä Iron ore mining expected to start in Q3 FY09, earlier than [...]
Reliance Communications Limited (RCOM) q2 results
Mumbai: Reliance Communications Limited (RCOM) today announced its unaudited consolidated financial results for the quarter ended September 30, 2008.
Highlights of the financial performance for the quarter are:
§ Net Profit of Rs. 1,531 crore (US$ 330 million), higher by 17.3% compared to Net Profit of Rs. 1,305 crore (US$ 328 million) in the corresponding quarter last year.
§ EBITDA [...]
RAYMOND LIMITED – FINANCIAL RESULTS Q2 FY 2008-2009
Standalone Net Sales at Rs 434 crores; up 25% over same period previous year
Textile segment profits up by 49%
Standalone Operating EBITDA witnessed 44% Y-o-Y growth on back of strong branded sales
Mumbai, October 31, 2008: Raymond Limited today announced its un-audited financial results for the quarter ended September 30, 2008.
The textile segment sales registered an increase [...]
Hindalco Industries Ltd. 2n quarter results
Hindalco Industries Ltd., the flagship company of the Aditya Birla Group, today announced its unaudited financial results for the quarter ended 30 September 2008.
Net sales and revenues have grown by 14% to Rs. 5,683.2 crores as compared to Rs. 4,966.9 crores for the corresponding period in FY 08. Despite the unrelenting input cost push that [...]
Broking firm ShareKhan review on Q2FY09 (Jul-Sep) Corporate Earnings
Q2FY2009 earnings review – Key points
-The Sensex’ earnings (adjusted for the one-time items) grew by nearly 10.1% in Q2FY2009 on the back of the strong performance of the financial service companies (earnings up 30% year on year [yoy]), telecommunications (telecom) companies (earnings up 28% yoy) and capital goods companies (earnings up 18% yoy). However, the [...]
