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SpiceJet Q4 Results, Walmart Flipart Sale et al.

Professor of Financial Economics and Part-time Value Investor, Transfin.
May 12, 2018 11:41 AM 1 min read

End of Day Wrap-up (Saturday / May 12, 2018) #insurance #CBDT #Walmart #Flipkart #IPO #Infosys #SpiceJet #Uber #Transfin

Editor's comment: New India Assurance reports 118% increase in net profit for FY17-18 at INR2,201cr. Combined ratio improves from 118.7% to 111.2%. Claims in Pradhan Mantri Fasal Bima Yojana increased to 92% vs. 75% in PY.


CBDT approaches Walmart seeking details of due diligence on tax liabilities arising from its $16bn acquisition of Flipkart to avoid risk of retrospective taxation.


Walmart discloses in regulatory filings that it may IPO Flipkart in less than 4 years. 


Ravi Venkatesan, former co-chairman of Infosys, resigns from post of independent director as part of co-founder Nandan Nilekani's board reconstitution. More changes not ruled out in coming months. 


Low cost airline SpiceJet reports Q4 profits of INR46.1cr, +10.8% yoy, driven by higher passenger yields (+8%) and load factor (95.4%). Load factor an indicator of capacity utilization.  


Uber under pressure to find new CFO after its leading candidate (VMware Inc. CFO Zane Rowe) backed out. Uber hasn't had a CFO since 2015, and needs a finance head before its planned 2019 IPO. The ride-hailing giant reported a loss of $4.5bn last year.