NTPC FY07 consol net up 18 pc at Rs 6898 crore
Mumbai: National Thermal Power Corporation (NTPC) has posted an 18 pc rise in consolidated net profit at Rs6898.3 crore for the year ended March 31, 2007 against Rs5840.8 crore for FY06.

NTPC's total income increased 21 pc to Rs36651.8 crore for FY07 from Rs 30202.1 crore for FY06.

On a stand-alone basis, the company posted a net profit of Rs6864.7 crore for FY07 against Rs5820.2 crore for FY06. The company's total income increased to Rs35380.7 crore for FY07 from Rs29339.3 crore for FY06.

For the quarter ended March 31, 2007, the company posted a net profit of Rs1734.7 crore against Rs1566.3 crore for Q4FY06. Total income for the quarter increased to Rs9546.7 crore from Rs8346.4 crore in the corresponding quarter of the previous fiscal.

The company has recommended final dividend of 8 pc of paid up equity share capital in addition to the interim dividend paid of 24 pc of paid up equity share capital in February 2007.
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Idea may acquire Spice Telecom
New Delhi: AV Birla group company, Idea Cellular, which has around 15 million subscribers in the country, is said to be close to acquiring BK Modi promoted Spice Telecom in a cash-cum-equity deal that values Spice at around $ 1 bn.

Spice Telecom has 2.8 million subscribers in Punjab and Karnataka.

The deal is expected to be a largely stock-based one, in which Idea Cellular would issue stock to Spice Telecom.

Modi owns 51 per cent of Spice while Telecom Malaysia holds the remaining 49 per cent. The equity component is estimated at around 12 per cent of Idea's equity.

At close of trade today, Idea, which is listed on the BSE, had a market cap of just under Rs32,000 crore. The scrip closed at Rs122.90 on the BSE.
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Retail chain Weekender may be acquired by Primus
Bangalore: Value fashion retail chain Primus Group which is part of garment export house K Mohan & Co is in advanced talks to acquire a casual street wear store chain, Weekender owned by Gokaldas Images.

Weekender has been on the block after Gokaldas decided to stay focused on the booming garment export business in the post-quota regime. The deal is expected to priced at around Rs 50 crore with the valuation being worked out between 1-1.5 times of Weekender's current topline revenue, sources said.

Primus may acquire the brand Weekender and a network of 40-50 stores across India. Being one of the early retail brands targeted at the youth and kidswear market, Weekender continues to enjoy reasonable brand recall despite declining visibility in recent times.

Weekender owns many of its stores, while others are on long-term lease. Further, Weekender also has long-term supply contracts to some of the big box retail chains.

Primus is positioned as a moderate price store, retailing fashion off-season merchandise of international brands like Levi's, Benetton, Nike and Adidas.
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GTL arranges war chest of Rs1,000-cr for global acquisitions
New Delhi: Network services provider GTL is arranging funding to the tune of Rs1,000 crore for making global acquisitions in a bid to enhance its telecom services offering. The company is eyeing at least four different companies in the areas of network planning and design, network operations and maintenance and professional services.

GTL recently acquired Genesis Consultancy, a UK-based network services provider, for $9 million (over Rs40 crore) in an all-cash buyout to increase its third generation (3G) mobile capabilities.

The company is also selling off its non-telecom business as part of the plan. As part of this the company is selling off its IT managed services division that has 400 employees.

At least four companies have shown interest in buying out the division.

GTL is expected to get around Rs200 crore for the division.

GTL is also planning to sell off its Business Process Outsourcing unit keeping in line with its focus on the telecom services segment.

GTL's revenues at the end of March 31, 2007 stood at Rs11,576 crore and net profit at Rs100.35 crore compared with Rs749.6 crore and Rs72.37 crore respectively in the previous year. The company has orders worth Rs1,600 crore for the year 2007-08 of which Rs1,152 crore is expected from projects in India.
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Reliance signs gas supply, marketing pact with GAIL
New Delhi: Reliance Industries and GAIL have signed a sale and purchase agreement (GSPA) and a gas transportation agreement (GTA). This agreement comes in the backdrop of an understanding reached between the two companies earlier this year for co-operation in gas sector. The agreement will enable RIL to use GAIL's pipeline network in Andhra Pradesh, Madhya Pradesh and other States, GAIL would get to market a portion of RIL's gas from the Krishna Godavari Basin (D6 block).

Sources said that the GTA enables Reliance to book capacity in GAIL's pipeline network - KG Basin, Dahej Uran Pipeline Project and the Dabhol-Panvel, Hazira-Bijapur-Jagdishpur and Dahej-Vijaipur Pipelines.

The GSPA also provides GAIL the right to market a portion of RIL's gas from the KG Basin. To begin with, RIL will supply GAIL with five million standard cubic metres per day of gas for marketing to consumers in North India.
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Indian Oil to build refinery in Turkey
New Delhi: Indian Oil Corporation has received approval from the energy regulator in Turkey to build a refinery in that country. IOC will now undertake a detailed feasibility study on its plans to build a $4.9-billion refinery in southern Turkey.

IOC in collaboration with Turkish builder Calik Holding proposes to set up a 15 MMTPA grassroots integrated refinery-cum-petrochemicals complex at Ceyhan in Turkey. This is part of IOC's plans for expanding business in Turkey, Africa, West Asia and Commonwealth of Independent States. This approval marks the entry of IOC in Turkey and also this would be first time that a non-state company of Turkey will build a refinery there.
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Zee cancels deal with BCCI
Mumbai: Subhash Chandra's Zee Telefilms has cancelled its five-year deal with BCCI, estimated at $200 million (about Rs800 crore), for 25 one-day international matches involving India at neutral international venues.

Zee TV says BCCI is favouring Nimbus Communications, the telecast rights holder for all matches played in India, over Zee Sports by agreeing to reduce its five-year telecast rights fee by 15 per cent (from $612 million to $520 million) following the government's "must-share" sports Bill.

The Sports Broadcasting Signals Bill, which was passed by Parliament last month, makes it mandatory for every sports broadcaster to share its signals "live" with Doordarshan.

Zee officials said the company has been requesting the BCCI for a dialogue to re-negotiate terms with it for the last six months, but in vain. Therefore, Zee has decided to pull out of the deal.
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TCS Financial plans $50-m capital investment
Mumbai: TCS Financial Solutions, the newly formed special business unit (SBU) for financial products within TCS, has decided to invest up to $50 million (about Rs205 crore) in capital for year 2007-08.

Company officials said that to in order to meet increasing orders, the investments would be directed towards product development, infrastructure management, sales and marketing across the company's suite of offerings. About nine products catering to commercial and retail banking, online trading clearing and settlement, and others have been put under `TCS BaNCS'. In the fiscal year 2006-07, TCS' financial products division had reported a 66.6 per cent rise in revenues to $170 million (Rs697 crore) from $102 million (Rs418.2 crore).

The process of consolidating the company's financial products business was kickstarted in October 2005 post TCS' acquisition of the Sydney-based Financial Network Services (FNS).
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Kingfisher, Air Deccan may sign deal
Bangalore: Air Deccan and Kingfisher Airlines are seen to be coming closer and an alliance may be on the cards. Talk of Kingfisher's interest in Air Deccan has been doing the rounds since April though Air Deccan has been constantly denying moves to sellout.

During the last quarter, Air Deccan lost market share and slipped from its No 2 spot. In the same period, it posted losses of Rs212 crore. The airline industry has been growing by nearly 20 pc in the last five years, primarily led by low-cost carriers.

These airlines are steadily taking away market share from full service carriers like Jet Airways and Indian Airlines and experts believe this trend will continue.

An alliance between Kingfisher Airlines and Air Deccan would have the largest market share in the industry would pose a stiff challenge to Jet Airways, which recently bought out Air Sahara to cement its position in the domestic market.
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