Sunday, 15 June 2014

MTS / Shyam Sistema India – Closer to Breakeven

MTS India / Shyam Sistema Telecom (SSTL) reported revenue of Rs 3.2bn, growth of 6.4% QoQ on the back of 6.8% traffic growth and 8.9% data revenue growth. After the cleanup of inactive subscribers, subscriber base contracted by 8% to 9.04mn while MOUs grew by 11% QoQ. Despite low base, SSTL traffic growth is equal to the incumbent’s growth of 5-8%. ARPU grew by 10.3%, which could be partly attributed to the inactive subscriber cleanup. Voice RPM continues to languish at a 40% discount to incumbents at INR 0.20, dropping 1.6% QoQ

Sandip Ginodia , Director
We deal in over 60 unlisted companies with 15 years of experience .
For latest prices visit : www.abhisheksecurities.com/unlisted.htm / call : 09830271248 .

Out of Ore Stock, MISL to Shut Shop

The Mid-East Integrated Steel Ltd (MISL), the first steel project in the private sector at Kalinga Nagar in Jajpur years before the place was hailed as the steel hub of Odisha, is readying to shut shop. With the State Government not taking up renewal of Roida-I iron ore mines, the steel plant has run out of raw material and is facing imminent closure.
Roida-I mines was leased in favour of MISL and happens to be the only source of iron ore for the project. The MISL was operating it under the deemed extension mode during the second renewal period. However, the mine was closed down, along with 25 others, from May 15 following an order from the Supreme Court.
While eight of the mines which were closed down following the apex court’s directive have resumed operations after express orders were passed for renewal of their lease by the Government, the same has not been done for Roida-I, leaving MISL’s fate uncertain. Interestingly, the Indian Bureau of Mines, Nagpur has already recommended its case for second renewal.
The plant, which was commissioned in January 2005, is currently manufacturing  pig iron and MISL was preparing to set up a 3.5 million tonne per annum integrated steel making facility before the shutdown of the mines.
If closed, 500 directly employed and about 1100 contractual employees of the plant will lose their livelihood apart from 650 odd employed, directly and contractually, with the Roida-I iron ore mines.

Sandip Ginodia , Director
We deal in over 60 unlisted companies with 15 years of experience .
For latest prices visit : www.abhisheksecurities.com/unlisted.htm / call : 09830271248 .