Hi SAI, GM

Hi all. GM
Any one please tell me where to check yesterdays high and low price of stock options?

Stocks to watch:

Lanco Infrastructure after the Construction and energy conglomerate dropped plans to bid for Australia's Premier Coal, owned by coal-to-retail conglomerate Wesfarmers, its executive chairman said on Wednesday.

Tata Motors after the top car maker said its global vehicle sales in May rose 11 percent from a year ago to 88,251 units.

Airline stocks will be watched after two state-owned oil firms today hiked ATF prices by 2.4 per cent in response to the increasing international crude prices.

PVR after the firm announced buy-back of 27.15 lakh equity shares at Rs 140/share. Buyback constitutes up to 10 pct of its outstanding shares. The buyback from open markets is at nearly 35 per cent premium to the current market price.

Shares ACC, Ultratech, Ambuja will be focus after Ministry of Corporate Affairs asked SFI to probe existence of a Cartel. Companies underutalising capacity to create shortage, SFIO will also probe the role of top management.

ONGC after the Oil major plans to sell 30 pct stake in KG Block. The company is in talks with BG India and Italian E&P major, ENI.

Essar Ports after the company is planning for a port project in Canada according to reports. If the plans go-through 25 pct of funding will be done by Canadian government.

Hi thavva, pls help CB/KB not available. holding 5300 put. whr to clear any idea

Hi subramani, no, not really sure about it

Hi SAI, cover it for now. shall take a fresh call after outcome of rbi meet.

just came online.

The Directors are pleased to present the 15th Annual Report, together with the audited financial statements for the financial year ended March 31, 2010.
Financial Highlights

The financial highlights of the consolidated Statement of Operations of
your Company for the financial year 2009-10 are summarised below:

(Rupees in Million)

Particulars 2009-10 2008-09

Income from Services 123,979 101,313

Other Income 1,011 231

Total Revenue 124,990 101,544

Operating Expenses 90,399 73,180

EBITDA 34,591 28,364

Depreciation and Amortisation 20,149 14,028

EBIT 14,442 14,336

Interest and Financing charges 4,005 4,945

Surplus from prepayment of loan 317 --

EBT 10,754 9,391

Taxes 1,215 575

Net Profit after Tax 9,539 8,816

Balance brought forward from
previous year (5,263) (14,079)

Accumulated Losses acquired on (9,314) --

Amalgamation of Spice Communications
Limited (net of withdrawals from
General Reserve & Deferred Tax effects)
Cumulative Losses (5,038) (5,263)

Performance Review

During the year under review, your Companys operations covered all
service areas of India. The total revenue for the year ended March 31,
2010 stood at Rs.124,990 mn against Rs. 101,544 mn in the previous
year, registering a growth of 23%. The Net Profit for the financial
year stood at Rs. 9,539 mn against Rs. 8,816 mn in the previous year.

Review of Consolidated Operations

During the year under review, Spice Communications Limited which had
operations in the Punjab and Karnataka service areas, and licenses for
National and International Long Distance operations, has been merged
with the Company with effect from March 1, 2010, pursuant to a Scheme
of Amalgamation. Similarly, the telecom operations of the Bihar service
area which were in Aditya Birla Telecom Limited have come into the fold
of your Company with effect from April 1, 2009, pursuant to a Scheme of
Arrangement.

Your Companys subscriber base increased by 48.4% over the year to
reach 63.82 mn as of March 31, 2010. Your Companys subscriber market
share stood at 10.9% as of end March, 2010 on a national basis.
Further, the Companys revenue market share increased to 12.4% for the
year ended March, 2010 from 11.1% for the year ended March, 2009. The
total Minutes of Usage have increased by more than 40% from 175 bn in
2008- 09 to 248 bn in 2009-10.

Dividend

As your Company does not have distributable profits as on March 31,
2010, your Directors regret their inability to recommend any dividend
for the year under consideration.

Share Capital

During the year under review, the Company issued and allotted
199,153,469 Equity Shares of Rs. 10/- each, fully paid-up, to the
equity shareholders of Spice Communications Limited (Spice), in the
ratio of 49 equity shares of the Company for every 100 equity shares
held in Spice, as per the approved Scheme of Amalgamation.

Further, the Company issued and allotted 589,114 Equity Shares of Rs.
10/- each to the Option Grantees pursuant to the exercise of stock
options under Employee Stock Option Scheme, 2006.

Consequently, the paid-up equity share capital of the Company increased
by Rs. 1,997.43 mn to Rs. 32,998.38 million.

Credit Ratings

The Company has received P1+ rating for its short term debt program
from CRISIL, and an AA rating for its long term debt program from CARE.

Capital Expenditure

During the year, the Company rolled out services in the Orissa, Tamil
Nadu, Jammu & Kashmir, Kolkata, West Bengal, Assam and North East
service areas, thereby making it a nationwide service provider.
Moreover, your Company continues to expand network in the incumbent
service areas for enhanced coverage and quality. Your Company incurred
a capex of Rs. 39,814 mn (including the capex incurred by erstwhile
Spice Communications Limited) during the financial year 2009-10.

The Company also made significant progress in rolling out its National
Long Distance (NLD) network, and augmenting the International Long
Distance (ILD) network. As at end March, 2010, it carried about 70% and
62% of its captive NLD and ILD traffic respectively.

Employee Stock Option Scheme

During the year, the ESOS Compensation Committee granted 6,918,750
options as a third tranche under the Employee Stock Option Scheme, 2006
(ESOS - 2006) to the eligible employees of the Company. Each option is
convertible into one Equity Share of the Company upon vesting. These
options will vest in 4 equal annual installments after one year of the
grant and shall be exercisable within a period of 5 years from the date
of the vesting.

Further, during the year, the ESOS Compensation Committee had re-priced
the Options granted to employees under Tranche I and Tranche II, as
these Options had become unattractive consequent to a significant drop
in share price. This re-pricing was duly approved by members at the
14th Annual General Meeting held on December 21, 2009.

Details of the options granted under ESOS–2006 upto March 31, 2010, and
other disclosures in compliance with Clause 12 of Securities and
Exchange Board of India (Employees Stock Option Scheme and Employees
Stock Purchase Scheme) Guidelines, 1999, are set out in Annexure ‘B to
this Report.

Human Resources

Your Company continuously invests in people development, identifying
and grooming management talent, and has a culture of harnessing people
power to the maximum.

Significant Developments:

- Merger of Spice Communications Limited with the Company

During the financial year 2009-10, Spice Communications Limited
(Spice), having mobility operations in Punjab and Karnataka service
areas including license for National and International Long Distance
operations, has been merged with the Company, pursuant to sanction of
the Scheme of Amalgamation by the Honble High Court of Gujarat and the
Honble High Court of Delhi.

The High Court Orders have been filed with the respective Registrar of
Companies, pursuant to which the Scheme become effective from March 1,
2010.

- De-merger of Telecom Undertaking (including Unified Access Services
License of the Bihar service area from Aditya Birla Telecom Limited
(ABTL) to the Company)

Your Directors wish to inform that the telecom operations of the Bihar
service area (alongwith certain assets and liabilities) which were
hitherto carried out in Aditya Birla Telecom Limited (a wholly owned
subsidiary) have been de-merged into the Company, pursuant to the
Scheme of Arrangement approved by the Honble High Court of Gujarat,
and the Honble High Court of Bombay.

The said Scheme became effective on 1st March, 2010 with an Appointed
Date of 1st April, 2009.

- De-merger of Licenses

Your Directors wish to inform that the Scheme of Arrangement filed by
the Company with the Honble High Court of Gujarat for de-merging the
UAS Licenses in respect of Punjab and Karnataka service areas to an
eligible entity has been withdrawn. Similarly, the Scheme of
Arrangement filed by erstwhile Spice Communications Limited with the
Honble High Court of Delhi for de-merging UAS Licenses in respect of
Delhi, Haryana, Mahrashtra and Andhra Pradesh service areas has also
been withdrawn.

- ISP License

In April, 2010, your Company received a License for providing pan India
Internet Services (ISP License). This License will enable the Company
to offer a gamut of services to the enterprise segment on a national
basis.

- Auction of 3G Spectrum

The Department of Telecommunications, Ministry of Communications &
Information Technology had conducted an Auction for 2.1 GHz band (3G
Spectrum) in the month of April, 2010. After the bidding spanning over
34 days and 183 rounds, your Company emerged winner in 11 Service Areas
viz. Maharashtra, Gujarat, Andhra Pradesh, Kerala, Punjab, Haryana,
Uttar Pradesh (E), Uttar Pradesh (W), Madhya Pradesh, Himachal Pradesh
and Jammu & Kashmir, at a total cost of Rs. 5,768.59 Crore.

The 3G footprint of the Company in the 11 service areas accounts for as
much as 81% of its national revenue, of these 11, the Company is number
1 in 4 service areas , and number 2 in another 3 service areas.

Awards and Recognitions

Some key awards and recognitions received by your Company are:

- Your Company has been ranked 6th in Investor Relations and ranked 7th
in Corporate Governance amongst Indian Companies by Finance Asia
magazines annual poll of investors and analysts.

-On Brand Idea has been ranked the 4th Buzziest Brand by Agencyfaqs.

- Idea won the award for the ‘Best Ad Campaign at tele.net Telecom
Operator Awards, 2010.

- The campaign “What an Idea Sirjee” continue to win accolades with the
campaign recently winning Silver at EFFIES 2009 for “Democracy”
Campaign, while the ‘Walk when you Talk Campaign was adjudged the 2nd
best campaign of the year by Brand Wagon (FE) and ‘All about Ads on
NDTV Profit.

New Initiatives and Alliances

During the year under review, your Company made extensive progress on
the marketing and customer care front by introducing various innovative
products and services and also entered into various alliances. Some of
these are:

- The Company deployed a best-in-class Interactive Voice Response (IVR)
system, based on a highly efficient technology architecture deployed by
IBM in partnership with CISCO. This IVR is the worlds largest Cisco
CVP deployment in telecom, and the largest deployment in APAC (Asia
Pacific American Coalition). The Company currently manages close to 5
million customer interactions per day using this IVR.

- The Company conceptualized and launched “Insta Alert”, an innovative
tool to convey latest offers and service related communication to
customers who latch on to the network after a period of inactivity.
This application was nominated for the global GSM Awards at Barcelona.

- Idea launched a standardized self care portal “CARE” which gives
information to the customer on products / tariffs and information of
their account such as billed amount, last recharge, last calls,
unbilled amount, etc.

- Idea was the first operator to launch “Pre Tones”. Pre Tones is an
innovative VAS service which allows the user to listen to the caller
tones of his / her own choice while making an outgoing call instead of
listening to the respondents caller tone.

- Idea launched 3G Compatible Net Setter Data Cards to cater to the
needs of its data -savvy customer segments.

- As one of Ideas new VAS activities, Idea launched “Buddy Recharge” –
a unique peer-to-peer talk time transfer product.

- Idea strengthened its brand through a series of media properties like
the Idea Cup, Cricket Series, Talk for India, Bingo Night, etc. Idea
associated with IPL teams, Deccan Chargers and Delhi Daredevils as
Principal Partners.

- Idea also launched Oongli Cricket during the IPL season, which was
well received.

Subsidiaries and Joint Ventures

Your Company has the following subsidiaries and joint ventures:

Subsidiaries

- Aditya Birla Telecom Limited (ABTL), holds 16% shareholding in Indus
Towers Limited and 100% shareholding in ICTIL.

- Idea Cellular Services Limited (ICSL), provides manpower services to
the Company.

- Idea Cellular Infrastructure Services Limited (ICISL), is a tower
company owning towers in Bihar and Orissa service areas and provides
passive infrastructure services in these service areas.

- Idea Cellular Towers Infrastructure Limited (ICTIL), holds towers
de-merged from the Company. ICTIL will subsequently merge into Indus
Towers Limited.

- Carlos Towers Limited (Carlos), became subsidiary pursuant to the
amalgamation of Spice Communications Limited with the Company and is
presently not having any operations.

- Swinder Singh Satara and Company Limited (SSS & Co.), is engaged in
the business of sale and purchase of Data Cards, mobile hand sets and
Fixed Wireless Phones.

As per Section 212(1) of the Companies Act, 1956, the Company is
required to attach to its accounts the Directors Report, Balance Sheet
and Profit and Loss Account etc. of each of its subsidiaries. As the
consolidated accounts present a complete picture of the financial
results of the Company and its subsidiaries, the Company had applied to
the Central Government seeking exemption from attaching the documents
referred to in Section 212(1) of the Companies Act, 1956. In terms of
the approval granted by the Central Government vide letter No.
47/288/2010-CL-III dated 13.04.2010 under Section 212(8) of the
Companies Act, 1956, a copy of the Balance Sheet, Profit and Loss
Account, Reports of the Board of Directors and Auditors of the
aforesaid subsidiaries for year ended March 31, 2010 have not been
attached with the financial statements of your Company. However, the
annual accounts of the subsidiary companies will be made available to
any investor of the Company, who seek such information and are also
open for inspection by any investor at the Registered Office of the
Company. The same are also uploaded on the website of the Company. The
statement pursuant to the approval under Section 212(8) of the
Companies Act, 1956, forms part of the Annual Report.

Joint Ventures

Indus Towers Limited (Indus), in which ABTL holds a 16% stake, is a
joint venture between the Bharti group, Vodafone Essar group and the
Company (through ABTL), and provides passive infrastructure services in
15 service areas.

Fixed Deposits

Your Company does not accept or hold any deposits and as such, no
amount of principal or interest on fixed deposits was outstanding on
the date of the Balance Sheet.

Corporate Governance

The Company is committed to maintain the highest standards of Corporate
Governance. Your Directors adhere to all the requirements as provided
in Clause 49 of the Listing Agreement which relates to Corporate
Governance.

The Ministry of Corporate Affairs has issued a set of Voluntary
Guidelines on ‘Corporate Governance and ‘Corporate Social
Responsibility in December, 2009. These guidelines are to serve as a
benchmark for the corporate sector, and also help in achieving the
highest standard of Corporate Governance.

Some of the provisions of these guidelines are already in place and are
covered in the Corporate Governance Report. The other provisions of
these guidelines are being evaluated and your Company will strive to
adopt the same in a phased manner.

A detailed report on the Corporate Governance, together with a
certificate from the statutory auditors confirming compliance with the
conditions of Corporate Governance, forms part of this report.

Board of Directors

Consequent upon change in nomination by Axiata Group Berhad, Dr.
Shridhir Sariputta Hansa Wijayasuriya ceased to be a Director on the
Board of your Company with effect from January 22, 2010 and in his
place Mr. Juan Villalonga Navarro has been nominated. Mr. Navarro has
been appointed as an Additional Director on the Board of your Company
with effect from January 22, 2010. Further, Dr. Hansa Wijayasuriya has
been appointed as an Alternate Director to Mr. Navarro with effect from
January 22, 2010.

As per the provisions of Section 260 of the Companies Act, 1956, Mr.
Navarro will hold office upto the date of the ensuing Annual General
Meeting of the Company.

Your Company has received a notice under Section 257 of the Companies
Act, 1956 together with the requisite deposit from a shareholder, in
respect of Mr. Navarro, proposing his appointment as a Director on the
Board of the Company. The Resolution seeking approval of the members
for his appointment as Director has been incorporated in the Notice
convening the Annual General Meeting.

In accordance with the provisions of the Companies Act, 1956 and the
Articles of Association of the Company, Mrs. Rajashree Birla, Ms.
Tarjani Vakil, Mr. Arun Thiagarajan and Mr. Biswajit A. Subramanian
retire from office by rotation, and being eligible, offer themselves
for re-appointment at the ensuing Annual General Meeting of the
Company.

Brief profiles of the Directors proposed to be appointed / re-
appointed as required under Clause 49 of the Listing Agreement are
annexed to the Notice convening the 15th Annual General Meeting forming
part of this Annual Report.

Conservation of Energy, Technology Absorption, Foreign Exchange
Earnings & Outgo

The particulars as required to be disclosed pursuant to Section
217(1)(e) of the Companies Act, 1956, read with the Companies
(Disclosures of Particulars in the Report of Board of Directors) Rules,
1988, are given to the extent applicable in the Annexure ‘A forming
part of this Report.

Particulars of Employees

In accordance with the provisions of Section 217(2A) of the Companies
Act, 1956, read with the Companies (Particulars of Employees) Rules,
1975, the names and other particulars of employees have been set out in
the annexure to this report. However, in terms of the provisions of
Section 219(1)(b)(iv) of the Act, the report and accounts, as therein
set out, are being sent to all the members of the Company excluding the
aforesaid information about employees. Any member, who is interested in
obtaining such particulars about employees, may write to the Company
Secretary at the Registered Office of the Company.

Directors Responsibility Statement

Your Directors affirm that the audited accounts containing the
financial statements for the Financial Year 2009-10 are in conformity
with the requirements of the Companies Act, 1956. They believe that
the financial statements reflect fairly the form and substance of
transactions carried out during the year and reasonably present the
Companys financial condition and results of operations.

Pursuant to Section 217(2AA) of the Companies Act, 1956, the Directors
confirm that:

a) in the preparation of the annual accounts, the applicable accounting
standards have been followed other than the accounting treatment for
the court approved Scheme(s) of Arrangement which have been explained
in the relevant notes to the Accounts;

b) the accounting policies have been applied consistently and
judgements and estimates made are reasonable and prudent, so as to give
a true and fair view of the state of affairs of the Company at the end
of the financial year and of the profit of the Company for that period;

c) proper and sufficient care has been taken to the best of their
knowledge and belief for the maintenance of adequate accounting records
in accordance with the provisions of the Companies Act, 1956, for
safeguarding the assets of the Company and for preventing and detecting
fraud and other irregularities;

d) the annual accounts have been prepared on a going concern basis.

Auditors

Your Companys Statutory Auditors, M/s. Deloitte Haskins & Sells,
Chartered Accountants retire at the conclusion of the ensuing Annual
General Meeting. The Statutory Auditors have confirmed their
eligibility and willingness to accept the office on re-appointment. The
necessary resolution seeking your approval for re-appointment of
Statutory Auditors has been incorporated in the Notice convening the
Annual General Meeting.

Auditors Report and Notes to Accounts

The Board has duly reviewed the Statutory Auditors Report on the
Accounts. The observations and comments, appearing in the Auditors
Report are self-explanatory and do not call for any further
explanation/clarification by the Board of Directors under Section
217(3) of the Companies Act, 1956.

Management Discussion and Analysis

The Management Discussion and Analysis Report for the year under
review, as stipulated under Clause 49 of the Listing Agreement is
presented in a separate section forming part of the Annual Report.

Appreciation

Your Directors wish to express their sincere appreciation to the
Department of Telecommunications, the Central Government, the State
Governments, bankers and the business associates for their excellent
support and look forward to continued support in future. Your Directors
wish to place on record their appreciation to the employees at all
levels for their hard work, dedication and commitment, which has
enabled the Company to progress.

Hi CB, I bought TIMKEN again at 229. But now at 224. Can I hold for 235 target? :(

Hi SAI,

Thats just my personal view, please take a decision by your own and not entirely influenced that :)

Thank You ( Waiting for CB/KB to come online :))