Companies & Sectors
SEBI, BSE, NSE approve RCOM-Aircel deal
Reliance Communications (RCOM) has got approval of the SEBI, BSE and NSE for the proposed de-merger of its wireless division into Aircel, the company said on Wednesday.
 
"Reliance Communications has received approval of the Securities and Exchange Board of India (SEBI), BSE Ltd and National Stock Exchange of India Ltd (NSE) for the proposed Scheme of Arrangement for de-merger of the wireless division of the company into Aircel and Dishnet Wireless Ltd," a company statement said.
 
"Pursuant to the same, Reliance Communications Ltd has filed an application with the National Company Law Tribunal (NCLT), Mumbai Bench, for approval of the said Scheme. The proposed transaction is subject to other necessary approvals," it added.
 
Post closing, RCOM and the present shareholders of Aircel will hold 50 per cent each in Aircel.
 
Industrialist Anil Ambani-led RCOM and Aircel announced plans to merge their wireless operations on September 14, 2016 to give birth to an entity with assets worth Rs 65,000 crore. 
 
RCOM and Maxis Communications Berhad (MCB) will hold 50 per cent each in the merged entity with equal representation on the board and committees. 
 
The merged entity will have the second-largest spectrum holding among all operators, aggregating 448 MHz across the 850, 900, 1,800 and 2,100 MHz bands.
 
The transaction will reduce RCOM's debt by Rs 20,000 crore, while Aircel's debt would go down by Rs 4,000 crore on closing in 2017.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

 

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Murali Kumar

8 months ago

Content and Title dosent match..

Only a few among the leading brands of food and beverages are of 'high nutritional quality'
No more than 12 per cent of beverages and 16 per cent of foods sold by nine leading Indian food and beverage companies were of "high nutritional quality", according to the Access to Nutrition Index India Spotlight, 2016, the first survey of its kind.
 
The index, created by Access to Nutrition Foundation, a Dutch non-profit, and funded by the Bill and Melinda Gates Foundation , evaluated the manufacturers' policies, practices, nutritional disclosures in India and globally. The nine companies assessed said they were committed to combat under-nutrition, but most did not produce or produced very few forti?ed packaged food products.
 
Fortification is the process of addition of micronutrients -- vitamins and minerals -- to foods to tackle nutritional deficiency. It is known to be an affordable and efficient way to improve micronutrient status in a population.
 
India is facing two opposing nutritional challenges: Malnutrition and increasing obesity, especially among children.
 
As many as 38.4 per cent of India's under five children are stunted, meaning low weight for height -- the highest such proportion of stunted children globally -- according to the National Family Health Survey, 2015-16 (NFHS-4), the latest available data.
 
At the same time, 135 million Indians are obese, according to a 2015 Indian Council of Medical Research study.
 
The consumption of packaged foods is increasing steadily nationwide, especially in urban areas, and the new nutrition index found that most do not address India's twin nutritional challenges.
 
The products of Delhi's Mother Dairy were ranked the healthiest of the nine companies assessed because 77 per cent of their sales came from drinking milk products. Hindustan Unilever and Britannia were ranked second and third. Nestlé India was ranked seventh.
 
The index based what it called the "product-profile rating" on nutritional quality of the products and relative sales of more and less healthy products. It also assessed compliance of the nine companies to Indian nutritional labelling regulations.
 
"Nestlé India is looking closely at the areas where the Index has recommended improvements," a Nestle India spokesperson told IndiaSpend over email. "We are trying to explore possibilities of fortifying products across portfolios. Some of our existing fortified products include Masala-e-Magic and CEREGROW."
 
Mother Dairy did not respond to our request for comment.
 
The index recommended that manufacturers improve their product profile by making nutritious products more affordable to low-income consumers, be more transparent about funding to industry organisations that lobby the government and about fortifying products.
 
Between 2-5 per cent of products were fortified with micronutrients lacking in Indian diets, the survey found. Wheat and milk products were mainly fortified with vitamins A, D, C and iron but most manufacturers do not fortify healthy products.
 
Iron deficiencies, for instance, are common in India because most Indians consume a high proportion of cereals and fewer animal products. India has the highest burden of iron-deficiency anaemia in the world -- a leading cause of disability.
 
"Moreover, other than one or two examples of companies using salt fortified with iodine to make their products, most do not commit to exclusively using fortified ingredients such as wheat or milk," the index noted.
 
Nestlé India topped the corporate profile ranking, with its policies, practices and disclosure on nutrition and undernutrition.
 
Food and beverage manufacturers have the potential to make an impact on India's nutritional challenges, as market shares of packaged food increase with lifestyle and income changes, said Inge Kauer, Executive Director, Access to Nutrition Foundation.
 
"Companies can make a difference by fortifying their products with micronutrients, selling smaller packets and making their products affordable," Kauer told IndiaSpend in a telephonic interview from Utrecht in the Netherlands.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

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Vjay Kumar

8 months ago

Hello I have read your blog on Only a few among the leading brands of food and beverages are of 'high nutritional quality This is an excellent resource.This will help me a lot with connecting to bloggers in my niche.
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Bhuvaneswaran K

8 months ago

Funded by Bill and Melinda gates... stopped reading after that... :(

Air India ran Rs 321-cr operating loss, not profit, in 2015-16: CAG
New Delhi, Air India has posted a standalone operating loss for 2015-16 of Rs 321.4 crore, though the company has claimed an operating profit of Rs 105 crore, the official auditor said on Friday.
 
The Comptroller and Auditor General (CAG) also pointed out significant understatement of losses by the national carrier in its financial statements.
 
"Air India is claiming an operating profit of Rs 105 crore for financial year 2015-16. But based also on the statutory auditors' reports, the airline had an operating loss of Rs 321.4 crore last year because the required provisions were not made," Director General in the CAG's office V. Kurian told reporters here.
 
Kurian was presenting the CAG's audit report on the financial restructuring plan of Air India tabled in Parliament on Friday.
 
He said the airline had made inadequate provisions for payment of various liabilities, including outstanding amounts to the Airports Authority of India and payment to employees for encashing leave, and had also made excess valuation of a company property in Delhi.
 
The official auditor said that the understatement of losses was to the extent of Rs 1,455.8 crore for 2012-13, Rs 2,966.66 crore for 2013-14 and Rs 1,992.77 crore for 2014-15.
 
"Considering the effect of these qualifications on the financial statement, the EBITDA (earning before interest, tax, depreciation, amortisation) of Air India would be negative (up to March 2015)," the report said.
 
CAG noted that the actual working capital requirements of Air India, being far in excess of the limits envisaged in the financial restructuring plan, had resulted in the company taking additional short-term loans.
 
Short-term loans were on the rise and amounted to Rs 14,416.85 crore as of March 2015, and Rs 14,550.88 crore as of March 2016.
 
"The high volume of short-term loans had eroded the benefits of financial restructuring exercise carried out," the report said. 
 
The value of the airline's short-term loans was nearly four times the cash credit laid down in the turnaround plan, it added. 
 
The report also said Air India had incurred a book loss of Rs 671.07 crore on the sale of five Boeing 777-200 Long Range aircraft and payment of Rs 324.67 crore towards interest on loans availed for procurement of these aircraft.
 
CAG's analysis of the routes operated by the airline showed that only 17 of its services recovered total costs in 2015-16, while 36 services, including five international and 31 domestic ones, did not recover the variable costs during the year, though they met jet fuel costs. 
 
Another 169 services (56 international and 113 domestic) did not recover total costs, though they recovered variable costs.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

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pradip

8 months ago

What is dark fibre, it is interesting to know. Data passes through opticle fibre as light pulses. When this is happening out is called fibre is lighted. A core of fibre is capable of carrying a huge amount of bulk data, better not imagine how much. So different streams add data are tagged and streamed simultaneously. That protocol delays transmission if data by miniscule amount of time. Now if you've a dark fibre rented for you alone, obviously there's no other data except your own. And you get, what, speed of light. And that's what "flash boys" want. Dark fibre is no mystery anymore.

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