Year: 2007

As per reports, the issue of bonus shares was discussed at the meeting of inter-ministerial comittee (IMC).

At the current price of Rs 369, the scrip trades at a PE multiple of 11.38, based on Q1 June 2007 annualised EPS of Rs 32.41.

As per reports, the issue of bonus shares was discussed at the meeting of inter-ministerial comittee (IMC).

Report suggested that in terms of Department of Public Enterprises (DPE) guidlines, central public sector enterprises (CPSEs) having reserves and surplus more than three times of their paid up capital are expected to declare bonus shares.

On a paid up capital of Rs 845.65 crore, total reserves of GAIL (India) the company stood at Rs 10,547.26 crore, which is about 12.5 times of the paid up capital.

Reliance Industries has announced an oil discovery in the deepwater block KG-DWN-98/l (KG-D4) located in the Krishna Basin. This is the first time an oil discovery has been made in the Krishna deep-water basin. This deep-water block was awarded to RIL under first round of NELP bidding. RIL holds 100% participating interest in this block, which spans over an area of 8100 sq kms.

The oil find in this exploration block marks a new beginning in this basin. The well was located in a depth of 565 meters and was drilled to a target depth of 3595 meters. The well encountered elastic reservoir with gross oil column of more than 20 meters in the Mesozoic section. During the Drill Stem Testing (DST), the well flowed 596 barrels of oil per day. This discovery namely ‘Dhirubhai – 36’ has been notified to Government of India and directorate general of hydrocarbons.

Encouraged by successes in the Godavari and Cauvery deeper Mesozoic plays, Reliance continued its exploration effort in Krishna offshore. This oil discovery comes after nearly two decades of exploration history with, more than 30 exploratory wells drilled by various operators in this geologically complex basin. The potential commercial interest of the discovery is being ascertained through integration of additional data and analysis.

This move is aimed at expanding company’s presence in the global beverages market. The reports suggest that the acquisition would help Tata Tea gain a larger share of the retail shelf space. Unlisted Liberty Tea is a popular brand in Europe.

In June 2007, Tata Tea bought Mount Everest Mineral Water for about Rs 210 crore. Tata Tea is the world’s second-largest global branded tea player with presence in 40 countries. Some of its famous brands include Tetley and Good Earth.

Tata Tea’s net profit fell 3.5% to Rs 43 crore on a 14% increase in sales to Rs 290.01 in Q1 June 2007 over Q1 June 2006.

Jet Airways India has announced that Jet Airways’ frequent flyer programme – Jet Privilege in its constant endeavor to offer enhanced opportunities to earn and redeem JP miles, has now partnered with the world’s leading publications TIME and FORTUNE magazines.

With this, members can earn Jet Privilege (JPMiles) only when they subscribe online either through the company’s website or through the website of TIME www.time.com/jetairways. Similarly, members can earn JPMiles by subscribing online either through the company’s website or through the website of FORTUNE magazine www.fortune.com/jetairways. Members can earn up to 1000 JPMiles for a 3 years subscription on these magazines.

Jet Privilege programme chose to partner with these two premium publications TIME and FORTUNE, keeping in mind its member profile and the preference of these two brands amongst its membership base.

TIME is the world’s leading newsweekly and is trusted by millions of readers for its insightful and reliable reporting on world politics, business, finance, technology, education and more. FORTUNE keeps readers abreast of the latest management thinking, changing technology at workplace, benefit from the experience across a diverse range of industries and gain valuable investment advice to increase one’s wealth.