99 Exclusive News - 29/07/07

Image Copyright: Mr. R.K.

• Reliance Industries Ltd. Results:

It Q1 net profit was up 28% at Rs 3,264 crore versus Rs 2,547 crore.
Its net sales were up 14.4% at Rs 28,056 crore versus Rs 24,522 crore.
Q1 Gross Turnover At Rs 29,493 Cr
Q1 EBITDA Margin At 18.5%
Net Profit Margin At 11.6%
Q1 Refining Margin At 11.2% Vs 9.8%
Q1 Petchem Margin At 13.7% Vs 11.1
Q1 GRM At $15.40 Vs $13 (QoQ)
Other expenditure was down 20% due to lower sales tax
Has completed 65%of RPL project
Makes 2 additional discoveries, 1 in KG basin, 1 in GS01
Submits development plans for NEC25 to DGH
Processed 8.01 mt of crude, up 7% (yoy)
Petchem production up 15% to 3.65 mt
Gas production from PMT up 23%
Oil production for PMT up 25%

• Government has decided to put Securities Transaction Tax, VAT data under lens to find out Tax Evasion (so all investors, stock traders be watchful & pay your taxes or will get screwed)
• Inflation for week ended Jul 14 at 4.41% Vs 4.27%
• Air India May Buy 60 More Planes to Tap Travel Demand post merger
• Dollar Rebounds From Record Low Versus Euro on Risk Aversion in US
• Is Russian Bellionaire Oleg Deripaska, the head of Russian automaker GAZ interested in buying out Land Rover & Jaguar?
• Qwest's former CEO, Joseph Nacchio, was sentenced to six years in prison and two years of probation for insider trading
• Non-filing of Income Tax returns to attract penalty
• BBC launches free Internet TV service so download auto deliting programs for viewing them within 30 days or first viewing whichever first!
• Supreme Court of India says - Banks can’t lift cars of loan defaulters (i.e. banks can't send bhai's for vasooli)
• Standard & Poor is not to up its stake in its Indian subsidiary CRISIL as per their governance agreement
• EPF Board retains 8.5% rate for 2006-07
• Berkshire Hathaway Trims its PetroChina Stake (May be a profit booking)
• Renault, Bajaj Auto discuss joint venture plan (official confirmation)
• State Bank of India's First-Quarter Profit Rises 78 Percent on Loan Demand

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