·Dish TV India Q3 net loss at Rs3 cr (YoY)
Dish TV India has announced results for the quarter ended December 31, 2014 (YoY):The Company has posted a net loss of Rs2.87 crore Vs net loss of Rs38.25 crore (YoY).Total Income is Rs729.25 crore Vs Rs622.53 crore (YoY).The life of the Consumer Premises Equipment (CPE) for the purposes of depreciation has been estimated by the management as five years, which as per the management, best represents the period of expected use, and is different from the life indicated by the Schedule II of the Companies Act, 2013. Upto March 31, 2012, in certain cases, the onetime advance contribution towards the CPEs in the form of rental was being recognized over a period of three years from the activation date.
·Indian power sector set for investment of $250 billion says Minister
Power and Coal Minister, Mr Goyal, reiterated that Indian power sector is set for an estimated investment of $250 billion (Rs15 trillion), that includes $100 billion for renewable, $50 billion in T&D, $60-70 billion for power generation. Further, $5-6 billion is set for energy efficiency projects and $20-25 billion investments for associated infrastructure required in replacement of old and out-dated equipments. Positive read through.
·Arvind looks to foray Rs30,000 crore Indian footwear market
Riding high on e-commerce wave, Arvind Ltd is looking to go beyond its core businesses and is readying to foray into the Rs 30,000 crore Indian footwear market in a big way. The company will launch its own footwear brand in coming days.
·Road projects worth Rs50,000 crore to begin in UP by December end
Road projects worth Rs50,000 crore to begin in UP by December end - Positive for road developers (IRB Infrastructure, IL&FS Transportation, Ashoka Buildcon, Sadbhav Engineering, Gayatri Projects)
Mr. Nitin Gadkari has said in the press conference that road projects worth Rs50,000 crore would be started in Uttar Pradesh by December end. The government might increase the amount by Rs10,000 crore to Rs15,000 crore.
·Govt hardens position in $1 billion dispute against RIL
Government hardened it's position in $1 billion dispute against RIL; negative read through. As per media reports, the government has hardened its position in a $1 billion dispute over the Panna Mukta and Tapti oil and gas fields, alleging the contractors ( Reliance Industries and BG) presented arbitrators with financial statements different from audited accounts, and indulged in heavy exaggeration of tax payments which reduces the state's share of profit. It has also questioned the neutrality of arbitrators in the dispute between the oil ministry and Reliance.
·Sesa Sterlite updates on BALCO's 1200 MW power plant
Sesa Sterlite announced that the Company's subsidiary Bharat Aluminium Company ( BALCO) has received approval of Consent to Operate ( CTO) from the Chhattisgarh State Pollution Control Board and other clearances for starting its Korba's based 1200 MW Power Plant.
·RIL prices $ 1 bn 4.125% Senior Unsecured Notes due 2025
Reliance Industries announced that it has priced a Rule 144A/ Regulation S offering of $ 1 billion 4.125% Senior Unsecured Notes due 2025. The notes have been priced at 240 basis points over the 10-year US Treasury Note, at a price of 98.998 to yield 4.249%. The notes will be denominated in US dollars and will bear fixed interest of 4.125% p.a., with interest payable semi-annually in arrears and shall rank pari passu with all other unsecured and unsubordinated obligations of the company.The funds will be utilized for the company's ongoing capital expenditure.
·Muthoot Finance Q3 net profit slips 20% (YoY)
Muthoot Finance has announced the following results for the quarter ended December 31, 2014 (YoY):Net profit slips by 20.49% to Rs154.44 crore Vs Rs194.25 crore (YoY).Total Income decreased by 10.95% to Rs1069.25 crore Vs Rs1200.75 crore (YoY).
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