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Written by Rasesh Tanna
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Monday, 16 June 2008 |
There has been huge debate going on in the Reliance group about this deal. Be it the Reliance ADAG group or Mukesh Ambani's RIL. The Reliance Communications - MTN deal is not a very simple one anyways. It involves MTN to first buy a minority stake in Rel Com, and then Rel com buying a majority stake in MTN to have a hold over the combined entity.
The problem comes when Mukesh Ambani stepped into the debate stating that according to the agreement of January 12, 2006 which was splitting agreement of the two brothers RIL has first right to refusal on sale of ADAG companies. Reliance Communications, Owner - Anil Ambani has come out in anger saying that RIL is not really interested in the company and these talks are just to spoil the MTN deal from happening.
It is now believed that top MTN officials are in Mumbai to meet up with the big bosses at Rel Comm to strike the deal. |
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Written by Rasesh Tanna
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Thursday, 12 June 2008 |
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We all know that Reliance Big Tv has already launched to its employees and customers, but the news is out now that on June 16 (unconfirmed reports) - Big TV DTH will be open for public all over India.
Big TV currently has over 50,000 customers who are generally related to the Reliance group. The company is planning to start its services in 6000 towns in India in the first month itself. Abhishek Bachchan is going to be the brand ambassador for Big Tv, so there is some direct competition to Shah Rukh who is closely associated with Dish Tv (from the Zee group).
The total number of DTH users in India is goin to rise to 25 million by 2012. The opportunity for Dish Tv, Tata Sky and now Big Tv is huge. |
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Last Updated ( Thursday, 12 June 2008 )
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Written by Rasesh Tanna
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Thursday, 01 May 2008 |
The total Indian exports touched a figure of 16 billion dollars in March which is up 26% from the figure in February. This although wsa not enough to reach the target set by the government of 160 billion in the full year.
The all time high oil prices increased the imports figure to $235.91 billion in the fiscal year 2008. The trade deficit widened to 80 billion dollars which is a 35% increase from last year.
Bhaumik, the Chief economist at India's largest private group - RIL, said - "But 2008/09 would be the most difficult year for India's exports because of the global slowdown and exports will have to face the challenge of falling global demand."
Exports account for about 15% of GDP which is much less than other emerging countries like China. |
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Written by Rasesh Tanna
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Wednesday, 30 April 2008 |
The traders who were looking for some good news in todays session, were definitely disappointed after hearing from the Finance ministry that the Commodity transaction tax is here to stay and not something they are willing to go back on.
The minister says he is justified in doing so and that the commodity traders must take it in their stride as have the stock traders who already pay "Securities Transaction Tax (STT)".
The budget which was announced last month had proposed a 0.017 CTT for commodity future trades. This actually goes up to millions of crores when calculated.
The MCX are therefore reportedly very disappointed with this latest development. |
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Written by Rasesh Tanna
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Thursday, 06 March 2008 |
Reliance energy is on track to buy back its shares at a maximum rate of Rs. 1600/share. As per the board meet which took place yesterday (Wednesday, evening) the board has decided to buyback the shares at a 9.6% premium to todays closing price.
REL plans to buyback shares worth approximately 2,000 crores. So according to their purchase price they will be able to buy about 1.5% from the open market. This will raise the promoter stake to 37%.
The company has over 10,000 crores in cash reserves in the bank and is of the thought that the company is currently grossly undervalued. This buyback will increase the overall EPS of the company since the buyback shares will be extinguished. |
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Written by Rasesh Tanna
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Monday, 25 February 2008 |
Reliance ADAG group has finally announced a 3:5 bonus ratio for the investors in Reliance Power. As promised before, this bonus will not be applicable for REL and Anil Ambani himself(both promoters). To try and not affect REL shareholders, Anil Ambani will sacrifice his own stake and reduce his holdings from 45% in RPOwER to 40%. The stake held by REL in RPOWER will remain unchanged at 45%.
The record date for the bonus is yet to be fixed, but it is estimated that it will be around the first week of April. With this bonus, the cost of a Reliance Power share will come down to Rs. 269, which is a 40% discount from the IPO discounted price of Rs. 430.
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