Category: Breaking Corporate India Earnings News

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 (more…)

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 (more…)

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 (more…)

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 (more…)

IGL’s blended gas costs increased by INR 3.3/kg as gas prices were increased from INR 3840/tscm to ~INR 6300/tscm (USD 3.84/mmbtu). We had assumed IGL to increase ~INR 3/kg for consumers.

However, IGL has increased the prices by INR 5.6/kg. We believe that this move of IGL is due to the following reasons:
IGL has used the opportunity to pass-on higher price of RIL’s KG-D6 gas. We estimate that IGL needs to peg the selling price of CNG at (more…)

The Indian Finance ministry has unveiled Drat – 2 of the Direct Tax Code. We fail to understand if it is a Finance Bill or a High School Assignment conducted by the officials. Analysis and implications for Salaried / Small Investors after 24 hour hectic consultation with Tax Experts.

Capital Gains Taxation – Direct Tax Code -2001 [Draft] Capital gains to be treated as income from ‘ordinary sources’ for all taxpayers, including non-residents and taxed at applicable rates. The distinction between ‘ordinary source’ and (more…)