Apnapaisa.blogspot.com Investment tips in stock market and mutual funds

2011-10-07T09:07:00.000-07:00

Tata Mutual Fund announced the launch of a three plan retirement savings scheme — Tata Retirement Savings Fund. The new fund offer for the scheme opens on October 7 and will close on October 21.

Investors can choose from three different plans offered by the fund, depending on their age and their risk preferences. The three plans are — Progressive Plan, an open ended equity scheme; Moderate Plan, an open ended equity scheme; and Conservative Plan, an open ended debt scheme.

The Progressive Plan will be for investors below the age of 45 years and will have 85-100 per cent of its assets in equity instruments. The Moderate plan is for investors between the age group of 45-60 and will have 65-85 per cent in equity-related instruments. The conservative plan will invest only in debt-related instruments and is for investors over the age of 60 years.

The fund comes with an “Auto-Switch” feature which does away with “the hassles of adjusting the equity-debt proportion with increasing age,” said a release from the fund house.

The fund has an exit load of five per cent for redemptions within one year of allotment of units, four per cent for redemptions within two years, three per cent for redemptions within three years, two per cent for redemptions within four years and one per cent for redemptions within five years. There will be no exit load for redemptions after five years of allotment.

2011-10-04T10:09:00.000-07:00

Noida Toll Bridge Company Declares Dividend

Noida Toll Bridge Company Ltd has informed BSE that the Board of Directors of the Company at its meeting held on October 04, 2011, has approved an interim dividend of 5% (Rs. 0.50 per Equity Share of Rs. 10/- each) to the equity shareholders of the Company, for the Financial Year 2011- 2012.

The stock noida toll bridge is currently trading at 22.80 on bse down 3% in todays market.

The dividend comes to around 2% of the current stock prince. One can take small position in noida toll bridge stock for a target of 25 in one to two months time.

2011-10-04T09:46:00.000-07:00

Should you Buy SBI ( State bank of India ) now ???

The big question with current market after todays crash is that should one buy the India's largest bank State bank of India at current level. The stock is now trading at 52 year low of 1,787 which is around 50% lower than its 52 week high of around 3500.

My answer to the above question is yes one should start buying state bank of India at current level, as the stock is currently at very cheap price which we may not get in coming days. As the mood of global market is not good and RBI is bitter instance of increasing the interest rates has put a negative outlook on the banking industry in near to medium term, but the situation is not to get away but to get the stock as such low levels. If market sentiment starts to feel better they this is the stock which would lead the rally and there would not be stopping after that. Moreover, SBI is planning a 20,000 Cr rights issue which government will only clear after the market mood cheers up and SBI moves in the range of 2500 as we have seen in the case of ONGC the govt. has delayed the follow up issue due to lower valuations.

Hence, start putting the SBI in your demat account and see the value of portfolio grow to higher valuation.

2011-10-03T11:43:00.000-07:00

Buy EROS International

Investors and traders with low to medium risk appetite can now start buy Eros Media currently market price of 236 with all time high of 258 made last week.

The fundamentals of the company looks very strong and the media industry in coming days is likely to be recession proof.

With major movies lined up for release in coming months , the profitablity of which will show on the movement of the stock which may go around 400 in coming 4 to 6 months an appreciation of around 60% from current level.

Hence start accumulating Eros Media at current market price.

Eros media upcoming releases :

Rock star ... starring Ranbir Kapoor 11 Nov
Desi Boyz...starring Akshay, John, Deepika 25 Nov
Raone...starring Shahruk Khan
Rana...starring superstar Rajnikanth
Agent Vinod..starring Saif Ali and Kareena

2011-10-03T11:24:00.001-07:00

Top Tax Saving Mutual Funds

Here is the list of Top tax saving ELSS mutual fund ( Equity tax planning funds )
There have been arrived by doing various research on the funds in this category.

Canara Robeco Equity Tax Saver.... Net asset 290 Cr, 3 Yr return 24.57%
Religare Tax Plan ...............................Net asset 108 Cr, 3 Yr return 20%
Fidelty tax advantage.........................Net asset 1240 Cr, 3 Yr return 18.7%
Taurus tax shield.................................Net asset 69 Cr, 3 Yr return 16.3%

The above are top tax saving mutual funds which have lock in period of 3 years.
With market nearing 16,000 ( BSE Sensex ) it would be right time to invest some amount in these funds if you want to save tax for the financial year 2011-12 , not in whole but do investment in staggered manner as currently economic situation globally not good hence it would be advisable to invest around 30% of your portfolio for tax saving mutual funds now and rest later on.

Please do keep visiting the blog in future on latest updates on Indian equity market and muutal funds as well as tips of investment and stock market hot picks.

2011-06-07T09:39:00.000-07:00

Smart Stock Picks @ June 7 , 2011

Stock recommendation by various brokerages house. Here I try to sort out very few of the thousands of recommended by various experts. And for this wee I have listed two mid cap stocks which are likely to give very good returns in the coming months. Buy and hold these stocks for few months preferably for two to three months then see the effect of holding and growing money.

Provogue : -This stock has always been a market out performer but for last one year has not delivered the goods for some reasons but if we take into the account the earning of FY 12 and FY 13. The core business is valued at INR 45 and the value of reality business is INR 37 which at any time can be unlocked and the resultant effect would be sharp jump in the stock prices and the news officially comes out of the boardroom to dalal street.

The current price of Provogue at on today closing date is INR 39 and target is round 82 to 90 in coming days.

Genus Power Infra :- The company's order inflow and execution have been below expectations. The stoc has seen a sharp fall and is now at quite an attractive level. At the current market price of INR 16 the valuation are very much attractive at 3.4 times FY 13E (EPS) while it dicounts its FY12 book value by 0.6 times.

Therefore start taking position in Genus Power Infra at these levels and wait for 2 to 3 months so that stock starts to give the smart returns , buy genus power infra for a target of 23 to 25 in coming days. ( Source own research, brokerage research reports and print media )

2011-05-11T11:44:00.000-07:00

Stocks Must buy at these levels of Sensex @ 18,584 ( 12 May 2011 )

Shree Ashtavinayak Cinevision -- cmp - 5.95 target 13 in Six months time

NHPC .. cmp - 25.05 target 32 in three months time

Indosolar .. cmp.. 17.25 target 24 in three months time

2010-07-07T20:51:00.000-07:00

Garden Silk Mills Limited Declares Dividends

Garden Silk Mills Limited at their Board meeting held on July 07, 2010 have recommended, a dividend of Rs.1.80 per fully paid-up equity share of Rs.10/- each, aggregating to Rs.803.71 lacs, including dividend distribution tax.

2010-01-05T10:09:00.000-08:00

DB Corp To List Tomorrow, 6th JAN 2010

DB Corp will list tomorrow, the issue was fully subscribed with retail subscription by more than 3 times.
The share was issued in the band of INR 185 to 212 and retail investor got at 210 per share.
DB Corp publishes 7 newspapers, 48 newspaper editions and 128 sub-editions in three languages (Hindi, Gujarati and English) across 11 states. It is one of the leading print media companies of India, with an impressive footprint, circulation and readership. Its strengths lies in strong established brands in Indian Print media businesses, geographical reach and leadership in markets.

With recent IPOs making handsome gains on the stock exchanges like godrej Properties which listed and JSW energy also had gained some today this company DB Corp is also likely to make gain of more than 15% on the listing day.

2009-10-29T10:06:00.000-07:00

Takeover of Weaker Banks

The Reserve Bank of India appears inclined to encourage takeover of weak/sick urban co-operative banks (UCBs) by domestic scheduled commercial banks (SCBs).

According to the central bank, where proposals for amalgamation within the UCB sector (i.e. amalgamation of weak/ sick UCBs with strong UCBs) are not forthcoming, it is proposed to provide Deposit Insurance and Credit Guarantee Corporation support to the amalgamation scheme involving transfer of assets and liabilities (including branches) of legacy cases of UCBs to domestic SCBs.

Takeover legacy

The takeover of legacy cases of UCBs – UCBs having negative networth as on March-end 2007 – by domestic SCBs will be allowed provided the amalgamation scheme ensures 100 per cent protection to depositors, the RBI said in the second quarter review of its monetary policy for 2009-10.

The prospect of acquiring a readymade infrastructure and business could prompt SCBs, especially from the private sector, to pursue acquisition of weak UCBs, said Dr Vinayak Tarale, Secretary, Mahahrashtra State Co-operative Banks’ Association.

In case the amalgamation scheme provides for each depositor (of a weak UCB) being paid or credited with, on the date on which the scheme comes into force, an amount which is less than the original amount and also the specified amount, the Corporation, according to the provisions of the DICGC Act, will pay to depositors the difference between original amount and the amount so paid or credited/ the specified amount, whichever is less.

Guidelines

The central bank said it will be issuing detailed guidelines on DICGC supported transfer of assets and liabilities of UCBs to SCBs in legacy cases.

According to the RBI’s latest report on Trends and Progress of Banking in India, out of 1,721 UCBs in India, 23 per cent or 392 UCBs fell in the weak and sick banks category as of March-end 2009

2009-10-07T09:35:00.000-07:00

Indiabulls Power, a subsidiary of Indiabulls Realty has fixed its initial public offering (IPO) price band at Rs 40-45 per share. The minimum bid lot will be 150 equity shares.

The IPO of 390, 700,000 equity shares, including a green shoe option of retaining 50,900,000 equity shares will open for subscription on October 12, 2009 and close on October 15.

2009-09-20T08:20:00.000-07:00

Updates on Stocks

UTV Software Communications Ltd has informed BSE that the Hon'ble High Court of Judicature at Bombay by an Order made on the September 11, 2009, has directed that a meeting of the equity shareholders of the Company be convened to consider and approve the Scheme of Arrangement relating to UMP Plc, UTV Motion Pictures (Mauritius) Ltd. and the Company. The said meeting will be held on October 14, 2009.

Jindal Cotex to List on 22 September 2009

Acrylic and polyester yarn maker Jindal Cotex will list on the Bombay Stock Exchange and the National Stock Exchange on 22 September 2009.

The Ludhiana-based company had fixed issue price at the top end of the Rs 70 - Rs 75 a share price band set for the initial public offer (IPO).

The issue price of Rs 75 discounts the company's year ended March 2009 earnings per share (EPS) of Rs 1.7 by a price earning (PE) multiple of 44.11.

The public issue, which closed on 1 September 2009, was subscribed 2.20 times. The company got bids for 2.47 crore shares as against 1.12 crore shares offered.

2009-09-07T10:23:00.000-07:00

Market Today

trong response to the initial public offer of Oil India, an
improvement in business confidence of India Inc and revival of
monsoon rains helped key benchmark indices extend gains for the
second running day. The Sensex surged 327.20 points or 2.09% to
16,016.32, up 223.05 points from the day's low and off just 19.18
points from the day's high. The barometer index BSE Sensex surged
past the psychological 16,000 mark in late trade. Both the
frontline indices - the BSE Sensex and the 50-unit S&P CNX Nifty
settled at their highest level in more than 15 months. Global
stocks surged after the G20 leaders pledged to maintain stimulus
measures.

Today's rally came on the back of higher turnover. The BSE clocked
a turnover of Rs 6,055 crore as compared with Rs 5,722.02 crore on
Friday, 4 September 2009. The market breadth indicating the overall
health of the market was strong. Realty, banking and metal stocks
were at the forefront of today's rally. The BSE FMCG index was the
lone loser among the sectoral indices on BSE. In stock-specific
activity Tata Motors surged almost 13%. ICICI Bank jumped around 7%
and Sterlite Industries gained around 6.5%

2009-08-23T08:25:00.000-07:00

L&T Finance Ltd. NCD

L&T Finance Ltd., has come out with an IPO of Secured Redeemable NCD for Rs.1000 Crs ( Rs.500 Crs. with an option to retain oversubscription upto Rs.500 Crs. ).

IPO opens on 18/08/09.

Tenor - 60, 88 & 120 months.

Very attractive interest rates - 10.24% for 120 months ( against the prevailing interest rates of around 8% in the market for other instruments)

Minimum investment Rs.10,000/- & Maximum investment under retail category Rs.1 Lac.

Retail Category restricted ONLY to Individuals & HUFs.

NO TDS - whatever may be the investment amount.

CARE AA+ rating by CARE & LAA+ rating by ICRA.

Demat account is mandatory as allotment is only on electronic mode.

Allotment on "First Come First Serve" basis.

Listing in NSE - to ensure any time liquidity.

2009-07-27T22:07:00.000-07:00

ADANI POWER LIMITED IPO
Symbol - Series
APL EQ
Issue Period
July 28, 2009 to July 31, 2009
Issue Size
301,652,031 EQUITY SHARES [including Anchor investor portion upto 52,857,366 equity shares]
Issue Type
100% Book Building
Face Value
Rs. 10/-
Price Range
Rs. 90 To Rs. 100.
Tick Size
Re. 1/-
Market Lot
65 Equity Shares
Minimum Order Quantity
65 Equity Shares
Maximum Subscription Amount for Retail Investor
Rs.100000
IPO Market Timings
10.00 a.m. to 5.00 p.m.
IPO Grading
IPO Grade 3
Rating Agency
ICRA Limited
Global Co-ordinator and Book Running Lead Manager
DSP Merrill Lynch Ltd,
Book Running Lead Manager
Enam Securities Private Limited, IDFC - SSKI Limited, JM Financial Consultants Private Limited, Kotak Mahindra Capital Company Limited, Morgan Stanley India Company Private Limited, ICICI Securities Limited and SBI Capital Markets Limited
Syndicate Member
Enam Securities Private Limited, Edelweiss Securities Limited, India Infoline Limited, JM Financial Services Private Limited, Kotak Securities Limited,SBICAP Securities Limited, Sharekhan Limited and UBS Securities India Private Limited
Categories
FI, IC, VC, MF, FII, FVCI, SIDC, PF, PEF, MLA, BDFI, NIF, CO, IND, HUF, NRI , OTH EMP and DIR
No. of Cities with Bidding Centers
58
Name of the registrar
Karvy Computershare Private Limited
Address of the registrar
Karvy House, 46, Avenue 4 Street No. 1, Banjara Hills, Hyderabad 500 034.
Contact person name number and Email id
Contact Person: M. Murali Krishna Toll free no: 1-800-345-4001 Tel: (91 40) 2342 0815-28 Fax: (91 40) 2343 1551Email: adanipower.ipo@karvy.com Investor Grievance Email: adanipower.ipo@karvy.com
Prospectus
Click Here
Application Form
Click Here
Trading Member List
Click Here
IPO Grading
Click Here

2009-07-24T02:34:00.000-07:00

Market Today

The market recovered today after last two days' slide. The BSE Sensex had lost 347.89 points or 2.29% in the previous two trading sessions. Inflation measured by the wholesale price index (WPI) declined 1.17% in the 12 months to 11 July 2009, as compared with previous week's annual decline of 1.21%, government data showed today, 23 July 2009. Inflation has been declining for the sixth straight time in the 12 months to 11 July 2009 In a move that my boost sentiment, foreign institutional investors (FIIs) and the non-resident Indians (NRIs) have been allowed to invest in Indian Depository Receipts (IDR), according to the operational guidelines issued by the Reserve Bank of India on Wednesday, 22 July 2009. FIIs, including the Securities & Exchange Board of India (Sebi) approved sub-accounts of the FIIs registered with Sebi and NRIs may invest, purchase, hold and transfer IDRs of eligible companies resident outside India and issued in the Indian capital market, subject to the Foreign Exchange Management (Transfer or Issue of Security by a Person Resident Outside India) Regulations, 2000. India's infrastructure sector output grew 6.5% in June 2009 from a year earlier, higher than an unrevised 2.8% in May 2009, government data released today, 23 July 2009 showed. During April-June 2009 period, the output rose 4.8%, compared with 3.5% in the same period last year. The infrastructure sector accounts for 26.7% of India's industrial output.

2009-07-17T02:37:00.000-07:00

Market Up

BSE 30-share Sensex was up 383.99 points or 2.69%. Finance
Secretary Ashok Chawla's comments that the government's record
market borrowing programme would not pressure bond yields and
interest rates further bolstered bulls. Revival of the annual
monsoon this month also underpinned sentiment.

Auto, IT, power, FMCG, healthcare stocks rose. But Index
heavyweight Reliance Industries pared gains. India's largest IT
firm by sales TCS rose ahead of Q1 June 2009 result. The market
breadth, indicating the overall health of the market, was strong.
All the sectoral indices on BSE were in green.

India's monsoon has revived this month after a dismal start last
month. Rainfall in the week to 10 July was 6% more than the
long-term average. For the 1 June-15 July period it was 27% below
normal, improving from a deficit of 36% up to 8 July.

The weather office has also forecast widespread rainfall in the
next five days in most regions of India where more than two-thirds
of the people live in villages and 60% of the farm land depends on
the annual rains. The weak start to the vital June-September
monsoon rains had stoked fears of crop failure, encouraging the
government to ban wheat exports and prepare contingency plans.
While the monsoon rains have picked up, progress has been uneven,
causing floods in some areas and drought in some districts which
are not major crop producers.

2009-07-13T06:29:00.000-07:00

AXIS Bank Ltd has announced the following Unaudited results for the quarter ended June 30, 2009:

The results for the Quarter ended June 30, 2009

The Bank has posted a net profit of Rs 5620.40 million for the quarter ended June 30, 2009 as compared to Rs 3301.40 million for the quarter ended June 30, 2008. Total Income has increased from Rs 28912.40 million for the quarter ended June 30, 2008 to Rs 38641.30 million for the quarter ended June 30, 2009.

2009-07-09T05:24:00.000-07:00

Stocks To buy in current Market Condition

IndiaBulls Financial -- cmp 162 Target 180
RCom -- cmp -- 255 Target 290
Aban offshore -- cmp 705 Target 800
Voltas -- cmp 120 Target 130
Tata Motors -- cmp 270 Target 300

2009-07-07T22:26:00.000-07:00

Market down more than 400 Points

Media reports that the government will have a disinvestment road
map in place in about three months to bridge the high fiscal
deficit, may cap the fall.

Asian stocks fell for a sixth day today, led by finance and mining
companies, as an unexpected drop in Japanese machinery orders
fanned concern a global economic recovery will falter. Key
benchmark indices in China, Hong Kong, South Korea, Singapore and
Taiwan were down by between 1.16% to 2.17%.

Japan's Nikkei fell 2.45% after the latest data showed Japanese
core machinery orders fell 3% from a month earlier in May 2009.

Trading in the US index futures indicated Dow could fall 20 points
at the opening bell today, 8 July 2009.

US markets closed deep in the red yesterday, 7 July 2009 as stocks
fell to their lowest level in 10 weeks amid growing doubts about an
economic recovery. The Dow slipped 161.27 points, or 1.9%, to
8,163.60. The S&P 500 index fell 17.69 points, or 2%, to 881.03.
The Nasdaq Composite Index lost 41.23 points, or 2.3%, to 1,746.17.

Back home, the Indian government is reportedly planning to sell
about 10-20% stake in listed blue chip companies. Among those
likely to be targeted are ONGC, Indian Oil Corporation (IOC), NTPC,
Bharat Heavy Electrical (Bhel) and Steel Authority of India (Sail).
Considering that these companies are profitable, selling stakes at
the opportune time could fetch the government a neat revenue that
could help bridge the fiscal deficit.

The government set an very small target of Rs 1120 crore from
divestment for the financial year ending March 2010 in the Union
Budget 2009-2010 which it unveiled on Monday, 6 July 2009.

2009-07-06T04:21:00.000-07:00

BUDGET 2009

Finance Minister Pranab Mukherjee set a sharply higher fiscal
deficit target to 6.8% for the financial year ending March 2010.

Volatility was immense. The market surged in choppy trade ahead of
the Union Budget in early trade. The Sensex crossed the
psychological 15,000 mark in early trade. The market extended gains
gains after the Finance Minister Pranab Mukherjee said there is
need to return to 9% growth at the earliest. A sell-off gripped the
market later. The market cut losses after a sharp intraday fall in
early afternoon trade.

The market was expecting some announcement on decontrol on fuel
prices but the FM only said that a panel will be set up to look
into the pricing of petrol and diesel. The market was also
surprised the FM keeping quiet on Foreign Direct Investment policy.

The projected FY 2010 fiscal deficit is much higher than the 5.5%
deficit forecast by Mukherjee in an interim budget in February
2009, and also higher than the 6.2% deficit recorded by the
government in the previous year ended 31 March 2009.

The finance minister has forecast an increase in plan expenditure
by 34% and non-plan expenditure by 37%. The total projected
budgetary spending in 2009-10 stands at Rs 10.23 lakh crore. The
government has proposed an increase in the allocation for
government welfare schemes by 45%. Expenditure on Bharat Nirman has
been hiked by 45%. The government has allocated Rs 3,91,000 crore
under the National Rural Employment Guarantee Scheme this year. The
allocation for rural roads scheme has been raised by 59% in
2009-10.

FM has increased personal income tax exemption by Rs 15,000 for
senior citizens and by Rs 10000 for others. The 10% surcharge on
personal income tax has been scrapped. The FM minister has scrapped
the Fringe Benefit Tax and also suggested removal for the
Commodities Transaction Tax (CTT). He has proposed no changes in
corporate tax structure. He said states agreed on basic structure
of goods and services tax. He said the government will pursue
structural changes in direct and indirect taxes and committed for
further tax reforms. He said fiscal expansion to go a long way in
reviving growth.

The Minimum Alternate Tax (MAT) has been hiked to 15% of book
profit from 10% of boom profit

The Finance Minister (FM) said the plan it to a return to a path of
9% at the earliest and to deepen and broaden the agenda for
inclusive development. The FM forecast a 6.7% GDP growth for FY
2010.

The government has extended agriculture debt waiver by 6 months and
provided additional Rs 1000 crore over interim budget for
irrigation. Budget will provide additional subvention of 1% to
farmers who pay short term farm loans on schedule and target for
agriculture credit is set at Rs 3,25,000 crore. He said government
will develop long distance gas pipelines to develop national grid
and LNG infrastructure in the country.

The government has restored 8% excise duty on manmade fibres. It
has meanwhile, scrapped the excise duty on branded jewellery. With
regards to the customs duty, the duty on LCD panels has been cut to
5% from 10%. The government has imposed a 5% customs duty on set
top boxes. The customs duty on wind power equipment has been cut to
5% from 7.5%.

The finance minister said fiscal deficit target will be closer to
3% of GDP by FY 2011-12 assuming a global economic recovery. He has
assumed GDP growth of 8% in FY 2011 and 9% in FY 2012.

2009-07-01T09:30:00.000-07:00

Hike in Petrol and Diesel Prices from Midnight

The government has hiked prices of petrol and diesel prices by Rs 4 per litre and Rs 2 per litre respectively. The government though decided to leave prices of kerosene and liquefied petroleum gas (LPG) untouched. The hike comes into effect from midnight

2009-06-24T11:44:00.000-07:00

Particulars	Mahindra Holidays & Resorts India Limited
Planning to Offer	92,65,275 no. of equity shares
Face value	Rs.10/- each at a price to be discovered through book building process
Price band announced	Rs.275/- to Rs.325/- per equity share
Issue is scheduled to pen	23.06.2009
Issue is scheduled to close	26.06.2009
Managers to the Issue	HSBC Securities and Capital Markets (India) Private Ltd,Kotak Mahindra Capital Company Ltd, SBI Capital Markets Ltd

We find from our records that you are one of the regular investors in IPOs/equity shares. We thought it appropriate to bring to your notice the following:

SEBI has recently introduced a new process applicable to retail individual investors popularly referred to as ASBA (Application Supported by Blocked amount) process. Under this process, the bid amount is blocked in your account at the time of bidding. If and when an allotment is made against your application to the extent of money due on the shares allotted, your account will be debited and the money will be remitted to the company. Therefore, the bid amount remains in your account earning interest during the whole process period. Your account will be debited only to the extent of shares allotted, if any,and the remaining amount will be unblocked. There will be no refund as such and therefore the problems related to non-receipt of refund will not be encountered by you. This is a facility extended by some self certified syndicate bankers (SCSBs) who have registered as such with SEBI. Currently the following banks have been identified as SCSB banks.
1.Corporation Bank 2.Union Bank of India 3.HDFC Bank 4.State Bank of India 5.ICICI Bank Ltd 6.IDBI Bank 7.AXIS Bank 8.Kotak Mahindra Bank Ltd 9.State Bank of Bikaner & Jaipur 10.Bank of Baroda		11.State Bank of Hyderabad 12.Punjab National Bank 13.Bank of India 14.Yes Bank Ltd 15.Citibank 16.HSBC Ltd 17.Vijaya Bank 18.State Bank of Travancore 19.Bank of Maharastra

SEBI may register more SCSB (Self Certified Syndicate Bank) banks as and when they undergo the self certification process. In case your bank is not one of the SCSB as on date/you are not dealing with any of the bank listed above, you are requested to verify with them as to whether they have got subsequently registered as SCSB.

In case you are the client of any of the above banks and you wish to apply under the retail individual investors category, we strongly advise you to consider making an application under the ASBA process. Should you require more details on this, please do write to us.

In case your bank is not an SCSB bank, you may participate in the IPO through the normal conventional process. Here again, we request you to ensure the following:
The application form is filled in all respects and duly signed by the applicants. The demat account details provided therein pertain to the applicants. The bank account details registered with the depository are correct. In case you have not provided the 9 (nine) digit MICR code to the depository participant, please do the same, so that refunds, if any, can be sent through electronic means wherever possible. Please retain the photocopy of the entire application for your future reference. Please ensure that your application is submitted to one of the bidding centers listed in the inner pages of the application booklet. We find that a large number of banks, particularly in the nationalized sector, have brought their branches under total computerization / core bank solution. In the process, account numbers of their clients have under gone changes. Please ensure that the account number registered with your DP is the current new number allotted, by the bank.

2009-05-20T03:08:00.000-07:00

Volatile Market Today

Volatility was high. After an initial slide, the market soon
bounced back and moved into the green on reports the key government
departments have drawn up a slew of proposals to populate an
ambitious reform agenda for the first 100 days of Dr Manmohan
Singh's second term as the Prime Minister of India. The market once
again slipped into the red shortly. The market bounced back with
the Sensex surging to the day's high in mid-morning trade as Asian
stocks rose. But the rally was short-lived as the market slipped in
the red once again in early afternoon trade.

Dr Singh was renominated as Congress Parliamentary Party leader on
Tuesday (19 May 2009) and is expected to stake claim today to head
the new Government of the UPA which saw BSP and SP scramble to give
it unexpected support to have 44 seats more than the required
majority. The 76-year-old economist-turned-politician is likely to
be sworn in as Prime Minster of India for the second term on Friday
22 May 2009, a day after the 18th death anniversary of Rajiv
Gandhi.

Singh may stake claim to be the Prime Minister (PM) for a second
term after meeting of the leaders of the UPA today where he is
likely to get a formal backing of the ruling Congress-led alliance.

2009-05-06T02:07:00.000-07:00

Today's Market

Key benchmark indices surged to day's high, reversing early losses,
mirroring firm Asian indices. Volatility was high. The BSE 30-share
Sensex was up 82.73 points, or 0.68%, up 173.07 points from the
day's low. The Sensex hit its highest level in six months. The
broader based 50-shares S&P CNX Nifty index surged past the 3,700
mark for the first time in nearly six months

The market was volatile. It drifted lower in early trade amid
concern US banks are short of capital. The market cut losses later.
It moved between positive and negative zone in early afternoon
trade. The market surged in afternoon trade as Asian stocks rose.

Recovery in the Indian economy triggered a solid rally on the
domestic bourses in the past few days. The rally was also a part of
a sharp surge in global equities triggered by hopes the worst of
the global economic recession may be over. From a 3-year closing
low of 8,160.40 on 9 March 2009, the Sensex jumped 3970.68 points
or 48.65% to 12,131.08 on 5 May 2009.

2009-05-04T08:19:00.000-07:00

Sensex goes past 12,000 Mark

Key benchmark indices settled near day's high, striking 7-month
highs, mirroring strong global cues. The barometer index BSE Sensex
gained 731.50 points, or 6.41%, outperforming its global peers.
Strong domestic and global economic data and aggressive build-up of
fresh derivatives positions in May 2009 series triggered a solid
rally on the bourses today, 4 May 2009. The barometer index BSE
Sensex surpassed the psychological 12,000 level.

Activity in Indian factories expanded for the first time in five
months in April 2009 as a swelling orders pipeline pointed to a
tentative recovery, a survey showed on Monday, 4 May 2009. The ABN
AMRO Bank purchasing managers' index (PMI) based on a survey of 500
companies, rose to 53.3 in April 2009 from 49.5 in March 2009,
climbing above the threshold of 50 that separates expansion from
contraction. The latest reading is the highest in seven months and
it has steadily risen after hitting a trough of 44.4 in December
20089.

Manufacturing makes up about 16% of India's gross domestic product.
The boost in manufacturing index came from a surge in new orders.
The new orders index rose to 54.9 in April 2009 from 49.5 in March
2009. Several research notes in the past few days have pointed to
improvement in economic activity in the months ahead.

Financial stocks led gains in European markets today, 4 May 2009,
on improved economic data in the euro-zone. Germany's DAX gained
1.80% and France's CAC 40 index rose 1.16%. The stock market in UK
was shut for a public holiday

2009-04-28T21:55:00.000-07:00

Pre Market Report

Key benchmark indices are seen opening strong on the back of
positive Asian indices. The SGX Nifty futures for April 2009 expiry
surged 52.50 points in Singapore. However volatility may hit roof
with derivatives contracts for April 2009 series expiring today, 29
April 2009.

Aggregate results of 475 firms showed 3.6% fall in net profit on
4.5% rise in sales in Q4 March 2009 over Q4 March 2008.

Expiry of derivatives contracts today, 29 April 2009 may heighten
volatility on the bourses. As per reports, rollover of Nifty
positions from April 2009 series to May 2009 series stood at 61%
while those of stock futures were 54%, as on Tuesday, 28 April
2009.

Political uncertainty, with polling for India's 15th Lok Sabha
underway, may also prop volatility. The month-long parliamentary
elections that began on 16 April 2009 will conclude on 13 May 2009
with results due on 16 May 2009. Poll estimates point to a
fractured mandate.

Meanwhile, turnover on the bourses may take a hit with traders
refraining to take freh positions ahead of a long weekend. The
stock market will remain shut on Thursday, 30 April 2009 as voting
takes place in Mumbai for the parliamentary elections and also on
Friday, 1 May 2009 on account of Maharashtra Day.

2009-04-27T07:28:00.000-07:00

Today Market Report

BSE 30-share Sensex was almost unchanged at 11,330.58, off close to
50 points from the day's high and up close to 150 points from the
day's low.

Banking stocks extended gains as bond prices rose. Index
heavyweight Reliance Industries recovered. IT stocks remained weak
even as cement stocks gained.

After a weak opening caused by weakness in Asian stocks, Indian
stocks had bounced back shortly.

The expiry of the near-month derivatives contracts has been
advanced to 20 April 2009 from 30 April 2009 as the stock market
remains closed on 30 April 2009 on account of voting for the
parliamentary elections in Mumbai on 30 April 2009. Rollover of
Nifty positions from April 2009 series to May 2009 series stood at
38% while those of stock futures were 26%, as on Friday, 24 April
2009.

Political uncertainty may lead to volatile swings on the bourses in
the next few weeks with polling underway for India's 15th Lok
Sabha. The month-long parliamentary elections that began on 16
April 2009 will conclude on 13 May 2009 with results due on 16 May
2009. Poll estimates point to a fractured mandate.

Asian stocks slipped on Monday as the outbreak of swine flu in
North America hurt shares of airlines and transport companies. Key
benchmark indices in China, Hong Kong, Taiwan, South Korea, and
Singapore fell by between 0.62% and 2.99%. But Japan's Nikkei rose
0.02%.

Trading in US index futures showed the Dow could fall 119 points at
the opening bell on Monday, 27 April 2009.

2009-04-23T11:16:00.000-07:00

Target Achieved of the Stocks Recommended

Target of all the recommended stock posted on 27th Feb
Check out the previous post of apnapaisa.blogspot.com here
http://apnapaisa.blogspot.com/2009/02/stocks-for-next-week-indiabulls.html
The target achieved are more than the expected.
Happy Investing

For latest stock tips of NSE and BSE keep visiting apnapaisa.blogspot.com

2009-04-22T22:39:00.000-07:00

Dividends Updates

Reliance Industrial Infrastructure Ltd recommended a Dividend of
Rs 3.50 per Equity Share of Rs 10/- each on the Paid-up Capital of Rs 15.10 crores.
Bank of Rajasthan Ltd recommend the dividend on equity shares for the financial year 2008-2009 in the meeting to be held on May 09, 2009.
Tata Sponge Iron Ltd has recommended a dividend of 80% (i.e. Rs 8 per equity share) for the year ended March 31, 2009. The cash outflow on account of dividend will be Rs 1,232 lakh and for tax on distributed profit including Education Cess will be Rs 209.38 lakh.
Can Fin Homes Ltd has a dividend at 20% for the financial year 2008-09, to be declared at the 22nd Annual General Meeting of the company convened to be held on or before September 30, 2009.
GTL Ltd has Recommended a Dividend @ 30% (Rupees 3.00 only per share) on the Equity Share Capital of the Company for the financial year ended March 31, 2009.

For Regular Dividend update on the listed companies on the Indian Stock Exchage of BSE and NSE keep visiting the website apnapaisa.blogspot.com

2009-04-21T08:12:00.001-07:00

RBI CUTS KEY RATES

The RBI today cut its key short-term rates by 25 basis points each
to shore up faltering growth in the face of the global economic
slowdown. The repo rate, at which the Reserve Bank of India (RBI)
infuses cash into the banking system, will be cut to 4.75%, and the
reverse repo rate, at which it absorbs excess cash from banks, will
be reduced to 3.25%, effective immediately.

The Reserve Bank also repeated a call for banks to pass on its rate
cuts to customers and said deposit rates should also fall. "There
is scope for the overall interest rate structure to move down
within the policy rate easing already effected by the Reserve
bank," it said, adding its latest rate cut reinforced the case.

The central bank cut is growth estimate for the year ended March
2009 (FY 2009) to 6.5% to 6.7%, from 7% projected earlier. It has
forecast growth of around 6% for the year ending March 2010 (FY
2010).

2009-04-17T00:15:00.000-07:00

Market UP in Green Today

Realty, banking and metal sector led a solid surge on the bourses
in mid-morning trade. All the sectoral indices on the BSE were in
green. Mid- and small-cap shares surged after a sharp correction on
Thursday, 16 April 2009.

Investor sentiment was strong also because foreign funds were net
buyers in Thursday's trade despite a near 3% fall in the barometer
index BSE Sensex on that day. As per the provisional data released
by the stock exchange, foreign funds bought shares worth a net Rs
479.09 crore on Thursday. FIIs have made heavy buying in the past
few weeks after heavy sales in the first two months of calendar
2009. There was a huge outflow of Rs 1124.24 crore by domestic
institutional investors (DIIs) on Thursday.

Asian shares were mostly higher on Thursday led by technology
stocks after their US peers gained on hopes for better demand and
some stability in the economy there. Key benchmark indices in Hong
Kong, Indonesia, and Singapore were up by 0.08% to 1.49%. But key
indices in South Korea and Taiwan were down 0.58% to 4.03%.

Japan's Nikkei 225 was up 1.49% after consumer confidence in Japan
climbed in March 2009

China's Shanghai Composite was up 0.08% after Chinese industrial
production expanded by 8.3% in March 2009 from a year earlier, up
from 3.8% in the first two months. The data was released by the
statistics bureau yesterday, 16 April 2009, in Beijing.

Trading in US index futures showed the Dow could fall 38 points at

the opening bell on Friday.

2009-04-08T04:16:00.000-07:00

TCS Enters IPL
For More Tips and Investment options keep visiting Apnapaisa.blogspot.com regularly

2009-03-26T05:58:00.000-07:00

SENSEX CROSSES 10,000 AGAIN

Fall in headline inflation to a record low and short covering in the derivatives segment ahead of the expiry of the near-month March 2009 contracts lifted the barometer index BSE Sensex above the psychological 10,000 mark in mid-afternoon trade. The Sensex had last had hit the 10,000 mark on 7 January 2009, the day Satyam Computer unveiled India's biggest corporate fraud and triggered a market slide. The S&P CNX Nifty breached the psychological 3,000 mark.

2009-03-08T06:19:00.000-07:00

Sterlite buying of Arsco
(Source : hindubusinessline)

2009-03-06T03:46:00.000-08:00

Start Picking Banking Stocks
IN today market session bankex hit the one yr low and most of the banking stocks also hit 52 yr low be it be ICICI or AXIS or IOB or SBI they are below their October low also.
With interest coming down and general election dates already announced there is high chance that these banking stocks will start to become the flavour of the season in coming days hence why not be wise and buy them when they are available at fairly cheap price.

Following banking stocks should be in ones radar :

ICICI Bank (270)
Axis (295)
IOB (40)
HDFC Bank (800)
PNB (305)
Bank of Rajasthan
City Union Bank

2009-03-05T07:01:00.000-08:00

Sensex at 3-year closing low

A surprise cut in policy rates by the Reserve Bank of India (RBI) failed to lift spirits on the bourses with the Sensex tumbling to 3-year closing low. Sustained selling by foreign funds, weak rupee and weak European markets weighed on the sentiment. Bond prices gave up initial gains which also weighed on equities. The BSE 30-share Sensex was down 248.57 points, or 2.94%, off close to 340 points from the day's high.
Index heavyweight Reliance Industries (RIL) led the decline. FMCG, banking and capital goods stocks also declined.
After opening on a positive note on higher Asian stocks and the Reserve Bank of India's latest effort to boost liquidity, the market soon slipped into red as sustained selling by foreign funds and a weak rupee weighed on the sentiment. A sharp slide was witnessed in morning trade as some Asian markets came off the day's peak as there was no announcement of an additional stimulus package by China which the investors were expecting.
The market extended losses in early afternoon trade. It came off the day's low in afternoon trade. The market tanked to the fresh day's low in mid-afternoon trade as European shares dropped in early trade. A bout of volatility was witnessed in the last 40 minutes of trade as day trades squared positions. (Source : Capitalmarket)

2009-03-05T06:52:00.000-08:00

Cut in Repo and Rerverse Repo Rates

Sending a strong signal to banks to lower lending rates, the Reserve Bank of India on Wednesday cut repo and reverse repo rates by half a percentage point each with immediate effect. Though market has been speculating a rate cut, the mid-week announcement took bankers and marketmen by surprise.
With the latest cut, the repo, the rate at which the RBI lends short-term funds to banks, now stands at 5 per cent and the reverse repo, the rate at which the RBI borrows from banks, at 3.5 per cent.
Banks are expected to cut both lending and deposit rates. Though the central bank had cut its key rates earlier in January, some banks, particularly those in the private sector, were reluctant to reduce their lending rates. This is the second rate cut by the RBI this calendar year.
With inflation rate falling to 3.36 per cent for the week ended February 14, 2009 and GDP growth falling to 5.3 per cent for the third quarter, it was widely expected that the RBI would cut rates
Bankers, however, said reduction in lending rates will depend on their cost of funds.
Mr V. Santhana Raman, Executive Director, Bank of Baroda, said, “With the rate cuts now, the cost of funds could become cheaper and liquidity ample. Even if banks don’t cut rates immediately, in a few days time, they will have to revisit their lending rates. We will evaluate the situation and take a decision shortly.” In the Third Quarter Review of the Monetary Policy, announced in January, the RBI had left key rates unchanged, but had indicated that banks must cut lending and borrowing rates.
The same concern is reflected in today’s announcement. “It is expected that the reduction in the policy interest rates will further encourage banks to provide credit for productive purposes at viable interest rates. The Reserve Bank, on its part, would continue to maintain ample liquidity in the system,” said the RBI.
It has also cautioned banks to monitor their assets and take timely action to prevent defaults.
The average PLR for most public sector banks is now 12.5 per cent.
According to Mr Keki Mistry, Managing Director, HDFC, the RBI move is aimed at creating confidence among banks so that they can lend further.
Asked if HDFC is likely to cut rates, Mr Mistry said, “The cut in the rates will have no direct impact on our cost of funds. When interest rates in the system go down, and our cost of funds comes down, we will pass them on to our customers.”
(Source : Businessline)

2009-02-27T22:52:00.000-08:00

Stocks for next week

Indiabulls ... cmp 96 target 115
HDFC........... cmp 1274 target 1400
RIL............... cmp 1266 targer 1400
IBSEC...........cmp 22.65 targert 24
Nandan Exim..cmp 0.95 target 1.1o

2009-02-27T00:50:00.000-08:00

Special Package for Export Sector

A special package of Rs 325 crore for the employment-intensive leather and textiles export sector, fast settlement of duty credit scrips for duty paid in export production and extension of such scrips for import of even restricted items after payment of duty are the key features of the trade facilitation measures the UPA Government unveiled on Thursday.

The procedural simplifications would help prune high transaction costs to trade and industry.

Announcing the final stimulus to the slowdown-hit export sector, the Union Commerce and Industry Minister, Mr Kamal Nath, said the special package for the twin sectors would be given for exports to be undertaken from April 1.

The threshold slab for premier trading houses has been reduced to Rs 7,500 crore from the current Rs 10,000 crore. The Director General of Foreign Trade, Mr R.S. Gujral, clarified later that this would help seven to 10 companies by way of relief to boost their exports. He said under the DEPB/duty credit scrip, import of restricted items such as HR coil could be done after payment of duty.

Under the Export Promotion Capital Goods (EPCG) scheme, the obligation for all exporters where the decline of the export of the products was by more than 5 per cent, would be reduced proportionately. This has been done for 2009-10 for exports executed during 2008-09, while the export obligation period against advance authorisations has been extended up to 36 months from the current 24 months.

Electronic message and transfer facilities for advance authorisation and EPCG schemes would be available for shipments from Electronic Data Interchange (EDI) ports from April 1.

For import of precious metals, STCL, Diamond India, MSTC and Gem and Jewellery Export Promotion Council and Star Trading House (only for gem and jewellery sector) have been added to the list of designated agencies. Import restrictions on worked corals have been abolished. Authorised persons of gems and jewellery units in Export-Oriented Units would be allowed personal carriage of gold in primary form up to 10 kg in a financial year, subject to RBI and customs guidelines.

To boost agricultural and rural exports, a re-credit of 4 per cent special additional duty, in case of payment of duty by incentive scheme scrips such as Vishesh Krishi and Gram Udyog Yojana, Focus Product Scheme and Focus Market Scheme would now be allowed.

The Minister said Bhilwara for textiles and Surat for diamonds have been recognised as towns under export excellence so that all the benefits for such clusters of export activity would accrue to them. For advance licence issued prior to April 1, 2002 the requirements of modvat/cenvat certifications would be dispensed with in case of customs notification prescribed for payment of countervailing duty.

While the procedural formalities for claiming duty drawback refund and refund of terminal excise duty for deemed exports have been further simplified, Mr Kamal Nath said that reimbursement of additional excise duty levied on fuel would also be admissible for EOUs. (source : businessline )

2009-02-17T07:31:00.000-08:00

Satyam Case to be handed to CBI

The investigation into the Rs 7,136-crore financial fraud at Satyam Computer Services was today handed over to the Central Bureau of Investigation (CBI). The CBI has come into the picture 40 days after the former Chairman, Mr B. Ramalinga Raju, made disclosures about fudging the numbers. The central agency will probe the scam from different angles and has powers to have special courts to examine the accused. The other agencies – SEBI, SFIO, Income-Tax Department – will continue with their line of investigation. The Andhra Pradesh Government has issued the necessary order facilitating CBI probe, the State Home Minister, Mr K. Jana Reddy, told newspersons here on Monday. The CB-CID of Andhra Pradesh Police has been investigating the fraud so far

2009-02-09T19:52:00.000-08:00

F&O Tips for the day

Buy NIFTY Put Option Strike Price 2700 expring 26th Feb @ 37 and sell around 60
Buy WWIL Stock Option strike price 15 expiring 26th Feb @ 1.50 and target of 3

2009-02-09T19:47:00.000-08:00

Pledging of Shares by TATA Group

Tata group firms Tata Teleservices (Maharashtra) Ltd, Tata Power Ltd and Tata Steel Ltd were among companies which disclosed on Monday that their founders had pledged shares to raise money, even as it became clear that at least some of the lenders have securitized the debt.

That would mean the shares may be sold in the market if the promoters default on payments or offer more shares as collateral, or so-called margin, to make up for the sharp fall in share prices.

Tata Teleservices (Maharashtra) revealed that its promoters had pledged 942.8 million shares, or 49.7% of its equity. The shares were worth Rs2,173.9 crore at Monday’s closing price on the Bombay Stock Exchange. Tata Steel said its founders had pledged 96.4 million shares, or 13.19% of the equity. The shares were worth Rs1,922.93 crore at Monday’s closing price. And Tata Power disclosed that its promoter Tata Sons Ltd, the holding company of the Tata group, had pledged 32.3 million shares, or 14.59% of the total equity. This was worth Rs2,173.23 crore at Monday’s prices. Several Tata firms have taken on debt to pay for overseas acquisitions.

The three Tata firms are among at least 100, many of them small and mid-sized, that have thus far declared that their founders or promoters have pledged their shares.

The disclosures are in line with a recent instruction from regulator Securities and Exchange Board of India (Sebi). Firms were continuing to make the disclosure till late Monday. At last count, the value of the pledged shares was Rs10,367.74 crore.

Typically, all such loans are given against collateral and, in a falling market, promoters need to pledge more shares to keep this intact.

In one such case, a mutual fund participating in a securitization programme sold part of the promoter’s stake in a large Indian drug maker in the open market, pulling down the stock significantly, an investment banker, who did not want to be identified, said. The promoter had originally taken loans from two lenders, pledging shares. The lenders, in turn, securitized the debt.

According to at least six investment bankers and mutual fund managers, none of whom wanted to be identified given the sensitive and confidential nature of such transactions, a few banks have securitized loans against shares through debentures and so-called pass through certificates (PTCs). Mutual funds cannot lend but can invest in debentures or PTCs, which are nothing but fixed-income securities.

“Typically banks do this (securitization) through creation of a special purpose vehicle and in case of a default, the shares can be sold,” said the CEO of a Mumbai-based mutual fund who did not want to be identified. Unlike lenders, who often have a long-term business relationship with the promoters, mutual funds can immediately sell the shares in case of a default.

Banks are also syndicating such loans to promoters. In a loan syndication, one bank issues the loan against shares in the first stage. In the second stage, it sells part of its exposure to other banks. Banks securitize and syndicate loans to free up their capital.

Under banking norms, for every Rs100 worth of loans, banks need Rs9 of capital. So, when the amount of loan that a bank takes on its own book goes down, the capital requirement too comes down.

Apart from Tata Steel and Tata Power, the only constituent of the National Stock Exchange’s 50-stock Nifty index to have revealed till late Monday that its promoters had pledged shares was Dr Reddy’s Laboratories Ltd. Promoters of the Hyderabad-based drug firm have pledged 6.9% of their shares. At Monday’s closing price, the value of this stake is Rs481 crore.

“Promoters of large firms, including one of India’s biggest conglomerates, have actively pledged shares but they may not make public announcements immediately,” said a senior executive at large foreign brokerage, a little before the Tata firms made their disclosure.

In a circular last week, Sebi made it mandatory for companies to disclose details of shares that had been pledged by promoters.

2009-02-09T18:51:00.000-08:00

Sensecx Jumps 283

The benchmark stock indices gained close to three per cent on Monday following higher domestic GDP growth of 7.1 per cent forecast for the current fiscal. The Sensex closed 283 points up at 9,584 while the Nifty closed 77 points higher at 2,919.

“The revised GDP growth rate and the optimism in the overseas markets about the Obama package led to short covering of positions here by the financial institutions,” said Mr Amitabh Chakraborty, President (Equity), Religare Securities.

Expectations of concessions in the vote-on-account later this month also boosted sentiment. Reliance Industries gained more than 3 per cent, on expectations of tax concessions for the gas production from the KG basin.

FIIs were net buyers of equities for Rs 285 crore, and domestic institutional investors net sellers for Rs 46 crore.

The metal index gained the most – 4.41 per cent on expectations of a recovery in the Chinese economy.

2009-02-08T21:00:00.000-08:00

EDSERV SOFTSYSTEMS LIMITED IPO
Symbol - Series
EDSERV EQ
Issue Period
Feb 05, 2009 to Feb 09, 2009
Issue Size
39,73,908 EQUITY SHARES
Issue Type
100% Book Building
Face Value
Rs. 10/-
Price Range
Rs. 55 To Rs. 60
Tick Size
Re. 1/-
Market Lot
100 Equity Shares
Minimum Order Quantity
100 Equity Shares
Maximum Subscription Amount for Retail Investor
Rs.100000
IPO Market Timings
10.00 a.m. to 5.00 p.m.
Book Running Lead Manager
Keynote Corporate Services Limited
Co Book Running Lead Manager
Ashika Capital Limited
Syndicate Member
Keynote Capitals Limited, Ashika Stock Broking Limited
Categories
FI, IC, VC, MF, FII, FVCI, SIDC, PF, PEF, MLA, BDFI, NIF, BC, IND, HUF, NRI ,EMP and OTH
No. of Cities with Bidding Centers
42
Name of the registrar
Karvy Computershare Private Limited
Address of the registrar
Karvy House,46, Avenue 4, Street No.1,Banjara Hills, Hyderabad - 500 034.
Contact person name number and Email id
Mr. M. Murali krishna, Tel: 91-040- 23312454,Fax: :91-040 -23311968,E-mail: edserv.ipo@karvy.com.

2009-02-07T01:36:00.000-08:00

LIC hikes stake in banks

Banking stocks were a favoured investment option for insurance companies, especially Life Insurance Corporation of India, during the December quarter.

LIC’s stake in PSU and private banks moved up by one to four per cent during the last quarter, as the State-owned insurance company reduced stake in several other sectors, a study of BSE data showed.

Its stake in some PSU banks rose by between two and four per cent. The banks were Allahabad Bank (up 4.60 per cent), Oriental Bank of Commerce (2.60 per cent), Syndicate Bank (2.32 per cent) and Union Bank of India (2.18 per cent).

In some PSU banks, LIC’s stake rose by between one per cent and two per cent. These institutions were Bank of India (1.63 per cent), Indian Overseas Bank (1.59 per cent), Bank of Baroda (1.53 per cent), SBI (1.33 per cent), Canara Bank (1.21 per cent) and Punjab National Bank (0.38 per cent).

Some of these banks saw LIC’s stake exceed two digits. The insurance company’s holding rose to 16.02 per cent in Oriental Bank of Commerce and to 10.99 per cent in Allahabad Bank.

LIC’s investment in Corporation Bank, the bank in which LIC holds the most, remained unchanged at 26.32 per cent during the period.

The insurer’s stake went up in private sector banks also. In HDFC Bank, the holding rose by 0.37 per cent to 5.07 per cent and in ICICI Bank, it went up by 0.35 per cent to 8.80 per cent.

Private sector insurance companies, too, have shown interest in banking stocks.

ICICI Prudential Life Insurance Company has raised its stake in Bank of India (1.61 per cent), SBI (from less than a per cent to 1.54 per cent), HDFC Bank (0.15 per cent) and Axis Bank (0.14 per cent). However, it reduced holding in Punjab National Bank by 0.65 per cent.

Reliance Life Insurance raised its stake in Dena Bank by 1.08 per cent.

LIC also raised stake in Sensex power stocks Reliance Infrastructure and Tata Power, by more than one per cent in each. In the same quarter it reduced stake by between one and three per cent in some blue-chips in FMCG, automobile, metals and pharmaceuticals.

LIC has reduced stake by 2.43 per cent in Hindalco to 8.80 per cent, and pruned holdings in Hindustan Unilever and ITC by less than one per cent each, to 5.89 per cent and 13.98 per cent, respectively. In Ranbaxy, too, LIC reduced stake by 0.79 per cent to 7.28 per cent.

LIC’s holds more than 10 per cent in 10 companies on the Sensex. Some time ago, the IRDA had indicated that LIC reduce stakes in listedfirms to less than 10 per cent.

The insurer holds more than 10 per cent stake in M&M (17.61 per cent), ACC (17.48 per cent), L&T (17.38 per cent), Maruti (14.36 per cent), Reliance Infra (12.99 per cent), Tata Motors (10.27 per cent), Tata Power (11.44 per cent) and Tata Steel (11.56).

( source : Hindubusinessline )

Hence for a medium to long term view to have excellent return one can really take huge positions in banking stocks especially banking stocks as.

Bank of India
IOB
Union Bank
Bank of Rajasthan
City Union Bank
Axis Bank

2009-02-04T00:32:00.001-08:00

Highest bid may be benchmark for Satyam open offer price

3 The highest quote in any competitive bid for Satyam Computer could be used as a benchmark for determining the open offer price for the company. It is reliably learnt that this is one of the possibilities being considered by SEBI, which is revising its takeover regulations to accommodate abnormal cases such as Satyam.

This methodology is being seen as a safe and transparent solution to arriving at an open offer price, said sources.

The Government-appointed Satyam Board had sought exemptions from the takeover code, as the six-month average market price for an open offer under the current regulations would deter suitors from bidding for that company. Satyam prices have plunged since promoter Mr Ramalinga Raju’s admission in early January of a fraud in the company.

On Monday, the SEBI Chairman, Mr C.B. Bhave, said the regulator saw merit in the argument that the Satyam’s market price until January may not make for a credible benchmark, being based on the company’s financials that have been disowned by the auditors themselves.

The counter argument this set off among legal experts was that the current market price itself is equally rootless, since everyone is still in the dark about Satyam numbers, which need restatement.

Using the highest competitive bid price to arrive at the open offer price frees the entire process from taking into account the market price.

Some market experts feel the entire exercise only serves to pave the way for easy acquisition of Satyam by other corporate hawks. “If the pre-January Satyam price was higher than it should have been, assuming it was based on false financials, then post the scandal the loss of credibility has certainly brought the price lower than it should have been,” said a broker. “The idea of a six-month average is exactly that, to iron out the volatility in the stock price.”

Many companies, including Larsen & Toubro and the Spice Group, have shown interest in acquiring Satyam. L&T, which acquired a 4 per cent stake in Satyam in December, raised its stake to 12 per cent a week ago.

(source : hindubusineesline)

2009-02-03T23:41:00.000-08:00

*Interesting BSE Sensex figures*

· As at January 8 2009, the BSE Sensex closed at 9071, a far cry from 20873
on January 8, 2008.

· Now, even if it took 5 years (Jan 2014) for the Sensex to reach
its previous high, the return would be *18.14% (CAGR) *.

· If it took *7 years (Jan 2016) *, it would be *12.64% *.

· And even if the Sensex reached that figure in *Jan 2019 (10
years) *, the returns would be *8.69% *.

· The surprise is that even for a *15 year time frame (January 2024)
* the Sensex would generate a CAGR of *5.71% *.

*Not bad at all when you consider that the 10 year Government Security
yields 5.65% (as on January 21, 2009 ) and that the long term
capital gains tax on equities is presently NIL

2009-01-28T13:26:00.000-08:00

Where is Satyam headed ???

The most hot stock in the market today everybody knows is Satyam Computers which hit all time low recently of 10 and now trading around 45.

With every news and views the stock takes jump either ways so right now the question is where is it heading in coming days can one get benefit by taking position in the stock currently and my answer is yes even if you buy it today you will make huge gains in the days to come.

The board members and directors are already formed and now hunt for the ceo has begun and with every passing day one is hearing better news from the newly formed board of Satyam computers, hence that days is not far away when we see the stock again crossing 100.

2009-01-25T19:39:00.000-08:00

Bank of India -- Buy

Fresh investments can be considered in Bank of India stock as it has continued to deliver better-than-expected earnings growth on a consistent basis.

Its superior return ratios (Return on Assets of 1.52 per cent and Return on Equity of 30.1 per cent), efficient operations due to controlled costs, diversified-high quality loan book and sustainable growth in its core operating revenues are the key positives for the bank. At current market price of Rs 230, the stock is trading at 4.1 times its trailing one year earnings and 1.1 times its December 2008 book value. Though profit growth may moderate from current levels, it is likely to remain well above peers in PSU space.

In the nine months ended December 2008, Bank of India posted a 75 per cent profit growth. The bank’s global advances have grown at 31 per cent while global deposits grew at 26 per cent year-on-year. Advances growth was driven by growth in corporate advances (72 per cent), even as retail credit stayed almost flat. The bank has a high credit-deposit ratio which boosted growth in net interest income to 40 per cent.

Net Interest Margin for first 9 months improved to 3.14 per cent from 2.97 per cent, due to a higher yield on advances. Going forward, as the bank trims lending rates, margins may moderate from this level. However, the fall may be contained as recent relaxations in CRR, SLR and repo rates bring down the cost of deposits.

On the cost side, employee expenses and provisions have risen as the AS-15 transition liability carries higher costs due to a fall in discount rates. But complete rollout of the Core Banking Solution, may help offset this over the next year.

While treasury gains aided profits this quarter, mark-to-market provision on overseas credit linked notes, higher taxes and provision for NPAs partially offset this. If not for these provisions, net profit would have grown at a higher rate. Asset quality, a key concern surrounding bank stocks, improved year-on-year, but showed slippage sequentially. The net NPA/advances for the bank has increased from 0.48 per cent to 0.52 per cent, but remains at manageable levels. The loan book is divided into Corporate (48 per cent), SME (21 per cent), retail (17 per cent), Agriculture (14 per cent).

Going forward, apart from its diversified loan book and focus on corporate advances, a high provision cover of 77 per cent will also shield asset quality.

The concerns over the service tax on deposit insurance premium appear to be overdone as the bank may take a hit of around 6 per cent of current quarter profit in worst case scenario (assuming all its deposits are below Rs 1 lakh).

( source -- hindubusinessline )

2009-01-05T20:02:00.000-08:00

Metal Index Jumps

Metal stocks witnessed a sharp rise on Monday with BSE Metal index gaining maximum among all the sectoral indices on the back of the second stimulus package announced by the Government.

The BSE Metal index gained 5.54 per cent. Top gainers among the steel stocks were Tata Steel (6.73 per cent), SAIL (6.97 per cent), Jindal Steel (5.50 per cent).

Meanwhile, according to a report, there was a sudden rise in demand for long structural products by 30 to 40 per cent while the prices have come down from an average of Rs 48,000-49,000 a tonne in August to Rs 32,000-33,000 a tonne. The good news for steel manufacturers is that the production cost of steel has also come down with fall in prices of raw material, including iron ore, which has also been favourable for steel stocks.

2008-10-23T01:15:00.000-07:00

Sensex At 10,000 -- Top Stock Picks --

Finally the BSE touched the 10,000 level and hit the below that level also so what are the top picks at current levels.

Here are the top picks of mine (CMP)

Bank of India - 262
ICICI Bank - 370
Lanco Infra - 130
Indiabulls - 104
Ranbaxy - 240
IFCI - 23
R Com - 230
Suzlon - 80
Telco - 200
Adani - 320

( I have holding in many of the above stocks )

All stocks are multibagger for coming days so just start buying them.

2008-10-23T00:57:00.000-07:00

Bank of India Q2 net rises 80% on robust credit growth

Bank of India reported an 80 per cent growth in second quarter net profit, beating analysts’ predictions.

Mr T.S. Narayanasami, Chairman and Managing Director, attributed the better-than-expected results to robust credit growth and healthy recovery of written off assets.

The bank’s net profit increased to Rs 763 crore from Rs 425 crore in the year-ago period.

Analysts tracking the bank had predicted a 33-35 per cent growth in bottom line, in view of the rising cost of funds.

However, the bank’s net interest margin (NIM) improved marginally to 3.2 per cent from 3.04 per cent, despite the cost of deposits increasing to 5.79 per cent from 5.53 per cent in the year-ago period. The average yield on advances fell marginally to 9.79 per cent from 9.99 per cent.

The stock is currently trading at 262 down 3% ( on 23 Oct , 08 at 13 Hrs IST )

2008-06-04T20:19:00.000-07:00

Holding of Lehman Brothers (Could face selling pressure)

Lehman Brothers May Have to Put Itself Up for Sale 2008-06-04 03:43 (New York)

June 4 (Bloomberg) -- Lehman Brothers Holdings Inc.'s balance-sheet troubles
threaten to harm the wider financial system unless the bank takes decisive
action, the Wall Street journal said in its ``Heard on the Street'' column.
*The company, which is likely to report a second-quarter loss this month,
may be forced either to sell all or part of itself to a bigger financial
firm or sell a large quantity of new shares, the newspaper said.* If it were
to go for the outright sale option, Lehman might, at the right price,
attract interest from Blackstone Group LP, Citadel Investment Group LLC or
J.C. Flowers & Co.,the Journal said.The investment bank has seen its shares
fall for two days in succession and they're now 22 percent below their book
value, reflecting investors' concerns about the values put on its assets,
many of which are backed by poor-quality real-estate loans, the newspaper
said. While a plan to sell as much as $4 billion of new stock is being
considered, the share-price decline makes it harder to do that, and as
Lehman's market capitalization has fallen to about$17 billion, $4 billion is
equivalent to almost a quarter of the company, the newspaper said.
Investors might, in any case, want the bank to raise more than $4 billion,
to cover any future losses from marking downasset values, the Journal added.

HOLDING::::

Develop.Cr.Bank

Spice Mobiles

Prajay Engg

Edelweiss Cap

KPIT Cummins Inf

Anant Raj Inds

Pion. Embroider

GTC Inds

Prithvi Info

Champagne Indage

Orbit Corporatio

Godawari Power&I

IOL Netcom

Aztecsoft

West Coast Paper

Indo Asian

Consolidated Con

IVRCL Infrastructure

Spice Communication

2008-04-29T05:02:00.000-07:00

RBI hikes CRR by 25 basis points; key rates unchanged

The RBI on Tuesday hiked the cash reserve ratio (CRR) by 25 basis points to suck out excess liquidity, a move aimed at tempering demand for loans and easing inflation from three-year highs.

A cash reserve ratio (CRR) is the percentage of bank reserves to deposits and notes.

Although it left key short-term lending and borrowing rates (repo and reverse repo) and Bank Rate unchanged, it hiked Cash Reserve Ratio for the second time in a fortnight to 8.25 per cent. Today's increase would suck out over Rs 9,000 crore excess funds from the banking system, while the 50 basis points increase in CRR announced on April 17 was aimed at squeezing out Rs 18,500 crore from the system. The move is aimed at fighting inflation, which is ruling at an intolerable 7.33 per cent. The high rate has prompted the RBI to revise its inflation comfort band from the earlier 5 per cent to 5.5 per cent.

2008-01-07T05:40:00.000-08:00

Analysis of Recommendation made on 26th December 2007

IndiaBulls Financial @ 990 ....... hit a high of 1030 pre demerger and 935 post demerger means a gain of around 30% post demerger.

Jp Associate @ 434 ..... hit a lifetime high of 500 gain of 15%

Adani @ 992 hit a lifetime high of 1330 gain of 34%

Divis Labs @ 1812 hit a high of 1990 gain of 10%

IndiaInfoline @ 1612 hit a high of 1975 gain of 24%

2007-12-29T20:52:00.000-08:00

New listings on Monday 31st December 2007

Brigade Enterprises Ltd

Issue Price - 390

Issue Size - 648 Cr

Likely Listing - 500

Group - A

Listing on - Nse and Bse

Registrar - Karvy Computershare Pvt Ltd

Click here to view the IPO allotment status of Brigade Enterprises Ltd

eClerx Services Ltd

Issue Price - 315

Issue Size - 101 Cr

Likely Listing - 480

Group - B1

Listing on - Nse and Bse

Registrar - Karvy Computershare Pvt Ltd

Click here to view the IPO allotment status of eClerx Services Ltd

2007-12-26T09:46:00.000-08:00

Stocks looking good for Short Term

Indiabulls Financials - cmp 990 target 1050 1 week

Jp Associate - cmp 334 target 360 1 week

Divis Labs - cmp 1812 targer 2100 1 month

Adani Entp - cmp 992 target 1100 2 week

IndiaInfoline - cmp 1612 target 1800 3 week

2007-12-26T02:18:00.000-08:00

BGR Energy Systems Limited IPO allotment completed

The IPO allotment process of BGR Energy Systems Limited has been completed and it can be checked from the link specified below

To get your status of BGR Energy Systems Limited please click here

http://www.intimespectrum.com/site/ipo.asp

2007-12-26T02:14:00.000-08:00

Transformers And Rectifiers ( India ) Limited IPO allotment completed

The IPo allotment process of Transformers And Rectifiers ( India ) has been completed and put up on the website.

to get your apllication status of Transformers And Rectifiers ( India ) IPO please click on the link below.

http://www.intimespectrum.com/site/ipo.asp

2007-12-26T02:08:00.001-08:00

Indiabulls Financial to issue over 2 cr shares to ICSL

Domestic brokerage major Indiabulls Financial Services on Wednesday said that it will issue over 2.56 crore equity shares to the shareholders of Indiabulls Credit Services (ICSL) pursuant to its scheme of restructuring.

The company has received Delhi High Court's approval for restructuring its existing business, entailing the merger of Indiabulls Credit Services (ICSL) and the demerger of Indiabulls Securities (ISL).

The board of directors of Indiabulls Financial at its meeting on December 24, approved the allotment of equity shares, pursuant to the merger of ICSL with itself, Indiabulls Financial said in a filing to the BSE.

Consequent to the issue and allotment of the aforesaid shares the paid-up equity capital of the company increased to Rs 50.68 crore from Rs 45.54 crore.

Earlier on February 15, Indiabulls Financial had received board of directors' approval for allotment of three shares of the company for every 10 equity shares held in ICSL. Shares of the company were trading at Rs 959, up 4.46 per cent on the BSE in mor ning trade

2007-11-27T03:45:00.000-08:00

3 large property deals in Mumbai may fetch Rs 2,780 cr

Property prices in Mumbai touched a record high with the Wadhawan Group bidding Rs. 5.04 lakh per sq metre for a 7,107 sq metre commercial plot at the Bandra-Kurla Complex. The bidder will be allowed to construct 16,500 sqm office space on the land.

For another commercial plot measuring 10,183 sqm, Reliance Industries quoted Rs 918 crore, wherein it would be allowed to build a 20,366 sqm multi-storeyed car park and 30,550 sqm commercial complex.

The Kolkata-based TCG Infrastructure Ltd and Hiranandani combine emerged the top bidder for a third plot of 8,076.38 sqm. for Rs.1,031 crore. A maximum permissible built-up area would be 28,300 sqm.

The Mumbai Metropolitan Region Development Authority on Monday opened the bids for these three plots.

The sale of these three plots is expected to fetch MMRDA Rs. 2,780 crore.
“Bids have just opened and eligibility has to be determined as per tender norms,” said Mr. Ratnakar Gaikwad, Commissioner of MMRDA.

Mr. Anant J. Gupta, Chairman of the Builders Association of India, Mumbai Chapter, said the rates at BKC varied between Rs. 40,000 and Rs. 45,000 per sqft and the quotes of Reliance and TCG-Hiranandani combine were in the range. The Wadhawan Group, he felt, were a little aggressive.

Asked whether he expected such high rates, Mr Gaikwad said that the response was on the expected lines and it would be the base price for future auctions. The FSI (floor space index) awarded was two and the process of increasing it to four was on, he said.

2007-11-02T03:41:00.000-07:00

Varun Industries Limited IPO Details

Varun Industries Limited IPO closed on 31 Oct with huge oversubscription in each segments as QIB, MF, Retaill.

The issue was a fixed price issue fixed at Rs. 60 Per share and a lot of 100 shares which meant minimum investement of 6000 for retails bidders.

The allotment of Varun Industries Limited IPO will be displayed on the BIgshare website in next week.

And here is the link to that

http://www.bigshareonline.com/IPO/ipostatus.aspx

2007-10-27T23:22:00.000-07:00

Upcoming IPO's

Here are the list of uopcoming IPO's in which everybody should apply to have hamdsome listing gains.

Varun Industries @ 60 from 25-10 to 31-10 (4/5)

Religare Enterp @160-185 from 29-10 to 01-11 (5/5)

Barak Vally Cem@ 37-42 from 29-10 to 01-11 (3.5/5)

Empee Distiller @ 350-400 from 01-11 to 06-11 (4/5)

Mundra Port @ 400-440 from 01-11 to 07-11 ( 5/5)

All the above are trading in grey market at the premium of 35 % to 50% .

The ratings provide are for listing gains.

2007-10-26T03:38:00.000-07:00

Sensex touches new peak of 19,276 intraday

The benchmark Sensex rose to a new intra-day high of 19,276.45 on the BSE on Friday on brisk buying by funds, after the stock regulator yesterday dispelled confusion on P-notes and reiterated its position on easing front-door FII investments.

Later, the Sensex closed at 19,243.17, up 472.28 points over yesterday's close of 18,770.89.
The Securities and Exchange Board of India Chairman, Mr M Damodaran yesterday said pension funds, charitable institutions, foundations and university funds that are not regulated overseas will be able to register in India. Money managers with a one-year track record will be allowed to register funds that have been in operation for less than a year, the regulator had said.
The National Stock Exchange index, Nifty, also surged 133.35 points at 5,702.30 as heavyweights such as Reliance, Larsen and Toubro and Tata Steel and SBI gained significant grounds.

2007-10-12T03:27:00.000-07:00

Sensex ends down 363pts at 18,451

Mirroring weakness in the global maretks, the Sensex opened marginally lower at 18,795 - down 19 points. After slipping a bit further, the index rebounded into the positive zone and touched a fresh all-time intra-day high of 18,845 - up 31 points from the previous close.

However, the index was unable to hold gains for long and instead slipped back into red. A fresh round of profit-taking in the last session saw the index tumble to a low of 18,336 - down 509 points from the day's high.

The Sensex finally ended (provisional) with a loss of 363 points at 18,451, after having gained 1,323 points in the last three trading days.

2007-10-11T03:40:00.000-07:00

Infosys Tech Q2 net up 18% at Rs 1,100 cr

Software major Infosys Technologies' consolidated net profit after tax increased 18.41 per cent at Rs 1,100 crore for the quarter ended September 30, as compared to Rs 929 crore for the same quarter last year.

The total income of the group increased 21.13 per cent to Rs 4,260 crore for the second quarter, from Rs 3,517 crore for the corresponding quarter of the previous year, the company informed the Bombay Stock Exchange.

Infosys posted net profit after tax of Rs 1,074 crore on standalone basis for the quarter ended September 30, compared to Rs 896 crore for the same quarter last year.
The total income of the company was Rs 4,005 crore for the second quarter ended September 30, as against Rs 3,339 crore in the corresponding quarter a year ago.

2007-10-10T06:02:00.000-07:00

SBI cuts rates for new retail loans

State Bank of India (SBI) said on Wednesday that it had cut interest rates on new loans for homes, automobiles and farm equipment in a festival season offer that runs until the end of 2007.

Home loan rates were lowered by 0.50-1.0 per cent, while loans for cars and two-wheelers have been reduced by 1.0 per cent, the bank said in a statement.

2007-10-06T22:49:00.001-07:00

Koutons Retail India Limited IPO Allotment Completed

Click here to view the IPO allotment status of Koutons Retail India Limited

http://203.199.177.158/kristel/krilipo.asp

Happy Investing

2007-10-06T22:49:00.000-07:00

Koutons Retail India Limited IPO Allotment Completed

Click here to view the IPO allotment status of Koutons Retail India Limited

http://203.199.177.158/kristel/krilipo.asp

Happy Investing

2007-09-29T04:22:00.000-07:00

REL board meets tomorrow for Reliance Power IPO

Anil Ambani Group Company Reliance Energy Ltd (REL) is expected to decide tomorrow for a public offer of up to $3 billion in its subsidiary Reliance Power as part of revenue generation for mega investment plans for setting up fresh power capacity .

The board of the Reliance Energy would meet tomorrow to "consider every opportunity for growth and unlocking of shareholders' value,'' the company said in a statement to the stock exchanges.

The meeting comes in the wake of reports that that the company was looking at an initial public offer of $2-3 billion (up to Rs 12,000 crore) shortly.

2007-09-26T01:04:00.001-07:00

Sensex crosses 17K-mark in fastest rally

The BSE benchmark Sensex zoomed past 17K-mark early this morning to 17,025.07 points for the first time in fastest-ever 1,000-point rally, on heavy buying across IT counters. IT shares, which were badly battered in last few months as rupee rose beyond 40-level against the US dollar, attracted renewed buying support and helped the Sensex to cross another milestone.
The BSE 30-share barometer touched a new lifetime peak of 17,025.07 in early trade, up by 125.53 points over yesterday's close of 16,899.54.

The journey from 16,000 points to 17,000 points was covered in the shortest span of six days. However, it later parted gains and was quoted at 16,969.16 at 1135 hrs. The broad-based S&P CNX Nifty of the National Stock Exchange also struck an all-time intra-day high of 4,977.90 before being quoted at 4,958.30 at 11 35 hrs, from previous close of 4,938.85, a rise o f 19.45 points.

Metal counters were also in demand while realty shares recovered some of their overnight losses on renewed buying. Hectic shortcovering ahead of the expiry of September series tomorrow too helped the index rise.

Foreign Institutional Investors (FIIs) continued their buying spree and injected about Rs 7,818 crore, including provisional figure of Rs 1,496.14 crore of Tuesday, since September 19, the day on which the US Fed cut interest rate.

Key shares such as Reliance Communications, Satyam, Infosys, Tata Steel, Hindustan Unilever, SAIL, SBI and HDFC made notable gains in early trades.

2007-09-26T01:04:00.000-07:00

2007-09-26T00:10:00.000-07:00

Infosys Tech Q2 results on Oct 11

Infosys Technologies Ltd has informed the BSE that a board meeting will be held on October 11 to consider the audited financial results as per Indian GAAP for the second quarter and half year ending September 30, 2007 and consider payment of inte rim dividend, if any.

The company has also fixed October 19 as the Record Date for the purpose of payment of interim dividend.

2007-09-19T03:08:00.000-07:00

Sensex scales 16K level in 52 trading sessions

The Bombay Stock Exchange hit a new milestone with its benchmark Sensex crossing the 16,000-point mark on Wednesday, taking 52 trading sessions to reach the current level from 15,000 hit on July 6.

At 3 pm, the 30-share BSE index rose to 16,312.93 points, gaining 643.81 points as investors stepped up buying, encouraged by US Federal Reserve's decision to cut the benchmark interest rates by 50 basis points.

Similarly, the S&P CNX Nifty on the NSE gained 185.35 points to 4,731.55.
The Sensex traded above 15,000 points for 41 trading sessions as the index fell below the level on account of subprime mortgage crisis in the US that caused meltdown in the global bourses.
The journey from 14,000 to 15,000 level had taken more than 140 trading sessions, the longest 1,000-point march since the Sensex touched the five-figure mark of 10,000 in February last year.

The 15,000-level was reached on July 6 driven by strong inflows from FIIs, robust economic growth and impressive corporate earnings.

In terms of sessions spent in taking each 1,000-point stride, the index took 143 days from 14k to 15k, 26 days from 13k to 14k, 132 days from 12k to 13k, 19 days from 11k to 12k, 33 days for 10k to 11k, 48 days from 9k to 10k, 54 days from 8k to 9k, 55 d ays from 7k to 8k, and as many as 1,124 sessions for 6k to 7k.

Sensex milestones:

Following is the list of dates when BSE Sensex touched the various milestones on its journey to 16,000-point mark:

Points Date

1000 July 25, 1990

2000 January 3, 1992

3000 February 29, 1992

4000 March 30, 1992

5000 October 8, 1999

6000 February 11, 2000

7000 June 20, 2005

8000 September 8, 2005

9000 November 28, 2005

10000 February 6, 2006

11000 March 21, 2006

12000 April 20, 2006

13000 October 30, 2006

14000 December 5, 2006

15000 July 6, 2007

16000 September 19, 2007

2007-09-14T01:27:00.000-07:00

Inflation slows down to 3.52%

Inflation slowed to a two-year low, adding to optimism the central bank may not immediately increase borrowing costs. The wholesale price index was 3.52 per cent in the week to September 1, the lowest since August 27, 2005, compared with 3.79 per cent the previous week, the Ministry of Commerce and Industry said on Friday.

2007-09-10T01:48:00.000-07:00

Prominent bulk deals on NSE and BSE

Following are the prominent bulk deals of the stoack exchanges last week.

source - hindubusinesline

2007-09-10T01:42:00.000-07:00

RIL acquires Malaysian polyester maker

Reliance Industries Ltd (RIL) on Monday said that it has acquired Malaysian polyester producer Hualon Corp Sdn Bhd for an undisclosed sum. Established in 1989, Hualon is an integrated polyester-to-textile maker with half a million tons of pol yester capacity, 2,50,000 spindles for spun yarn and facilities for weaving and processing of 5,800 shuttle-less looms. The company also has nylon filament manufacturing capability.

Reliance has "reached an agreement with the receivers and managers of Hualon Corp to acquire assets of Hualon...'' a company press release said here. Hualon has manufacturing units at Nilai and Malacca in Malaysia and is one of the largest exporters in that country. The company has highly automated plants, cutting edge technology and the most advanced machinery. Hualon was placed into receivership on November 30, 2006 and Lim Tian Huat, Adam Primus Bin Abdullah and Stephen Duar, all of Ernst & Young, Malaysia, were appointed receivers and managers of the company. The agreement to acquire is subject to certain conditions and regulatory approvals, the release said.

This acquisition, when consummated, will be the second international acquisition in the polyester sector by Reliance after the successful takeover of Trevira in Germany in 2004. It will help Reliance consolidate its position further as the global larges t polyester manufacturer with 2.5 million tonnes capacity, a 25 per cent increase from the current capacity, and a rise in revenue by around $1 billion. "The acquisition will bestow RIL with more than 7 per cent global market share in polyester fibre an d yarn,'' the release said

2007-09-05T03:31:00.000-07:00

1.5 lakh PSU bank jobs up for grabs

Public sector banks in the country are likely to recruit over 1.5 lakh personnel in various cadres over the next three years.

“The manpower requirement of public sector banks will increase substantially over the next three years as significant number of retirements is lined up in all banks,” Mr R. Bhaskaran, Chief Executive Officer, Indian Institute of Banking and Finance (IIBF), Mumbai, told Business Line.

As per IIBF estimates, vacancies coming up in public sector banks alone could be over 1.5 lakh. “Apart from entry-level clerical positions, there is a need for mid-level executives. Further, as banks are diversifying into areas such as insurance, they will have to hire domain experts as well,” Mr Bhaskaran, who was in Hyderabad recently, explained. The PSU banks recruited about 30,000 last year.

The positions are now getting diversified. “The banks today are in need of marketing and finance executives, legal officers, IT professionals to handle core banking solutions (CBS), analysts and agricultural officers,” pointed out Mr Kalyan Mukherjee, Executive Director, Andhra Bank.

“Lot of retirements are in the offing. Further, as business is expanding, the manpower expansion should go hand in hand with it,” he said.

SBH To Recruitment 400

Mr Amitabha Guha, Managing Director, State Bank of Hyderabad (SBH), also sees increasing need for manpower. “SBH alone will be recruiting 400 personnel including 100 officers this year. We have already sent the intent to SBI which will recruit for us,” he said.

In contrast with the previous practice of a common written examination, many banks are exploring new hiring methods competing with private banks in tapping the talent.

“For recruiting finance and marketing executives and analysts, we are going for campus recruitment,” the Andhra Bank official said. The bank preferred mid-level institutes in Mumbai, Pune, Hyderabad and Visakhapatnam for campus recruitments, to big names such as IITs, he added.

2007-08-31T03:41:00.000-07:00

Sensex rallies by 228 points closes at 15,318

The stock market rose sharply on Friday tracking strong Asian markets.

The Bombay Stock Exchange barometer opened firm at 15,131.36 and gradually moved upwards to 15,350.14, up 228.40 points.

Similarly, the broad-based S&P CNX Nifty of the NSE spurted by 54.20 points at 4,466.50 from previous close of 4,412.30.

Marketmen said major support to the market came from some of the heavy weight stocks in metal and auto sectors. A better trend in Asian stock markets also boosted the market sentiment, they added.

Mahindra & Mahindra, the country’s top tractor maker by sales, rallied 4.50% to Rs 705.55, off its day’s high of Rs 722.15. In the past seven trading sessions till 30 August 2007, the stock had soared 10.30% to Rs 675.15, riding on reports that it is conducting due diligence on Jaguar and Land Rover, put up for sale by Ford. Other potential bidders include private equity groups TPG Capital, Cerberus Capital Management, Ripplewood Holdings, One Equity Partners and Tata Motors.

All the European markets, which opened after the Indian markets, were trading higher. Key benchmark indices in United Kingdom (up 0.52% to 6,244.38), Germany (up 0.38% to 7,548.33), and France (up 0.72% to 5,632.79), gained.

All the Asian markets settled higher today, 31 August 2007. Japan's Nikkei (up 2.57% at 16,569.09), Taiwan's Taiwan Weighted (up 2.41% at 8,982.16), Hong Kong's Hang Seng (up 2.13% at 23,984.14), Shanghai Composite (up 0.99% to 5,218.82), Singapore's Straits Times (up 2.16% at 3,392.91), and South Korea's Seoul Composite (up 1.71% at 1,873.24), all edged higher

Crude oil prices steadied on Friday, 31 August 2007, as concerns over low oil stocks in the United States were compounded by a possible tropical storm forming in the Atlantic. US crude rose 24 cents to $73.60 a barrel while London Brent was up 21 cents at $72.11 a barrel.

The BSE Sensex surged 957 points, or 6.76%, in four trading sessions, from its 14,163.98 on 23 August 2007 to 15,121.74 on 30 August 2007

2007-08-25T06:17:00.000-07:00

US markets rally on home sales report

US markets jumped on Friday as surprisingly strong data on home sales and durable goods orders relieved anxiety about the economy and bolstered investor confidence after weeks of market turbulence. The gains helped the S&P 500 index post its best week in five months, even with more news pointing to further turmoil in the subprime mortgage sector.

Both the Dow industrials and the S&P got a big boost from energy stocks such as Exxon Mobil Corp, which benefited from a 2 per cent surge in oil prices. Sales of new U.S. homes in July rose 2.8 per cent, reversing two months of declines and a report show ed new orders for durable goods, which are long-lasting U.S.-made products, soared in the same period.

The Dow Jones industrial average shot up 142.99 points, or 1.08 per cent, to end at 13,378.87. The Standard & Poor's 500 Index climbed 16.87 points, or 1.15 per cent, to finish at 1,479.37. The Nasdaq Composite Index rose 34.99 points, or 1.38 per cent, to close at 2,576.69.

2007-08-21T20:22:00.000-07:00

Landmark hypermarket to debut

Landmark plans to invest Rs200 crore in seven Spar-branded stores over the next two years

The Dubai-based Landmark Group has tied up with Netherland’s Spar International to open the Dutch company’s franchisee stores to tap India’s booming retail market.

Landmark’s hypermarket chain, Max Hypermarkets India Pvt. Ltd, has signed a licence agreement to use the Spar brand name on hypermarkets and supermarkets that it plans to open in India.

Landmark plans to invest Rs200 crore in seven Spar-branded stores over the next two years, and the first hypermarket and the first supermarket will come up in Bangalore next month.
The Amsterdam-based Spar is one of the world’s largest food retailers, with more than 13,500 stores in 33 countries ranging from the Czech Republic to China.

“They have expertise in different areas of retailing—everything from the store layout to equipment to merchandising to the back-end and IT management,” said Viney Singh, managing director of Max Hypermarkets.

Singh said Landmark will pay a royalty fee—which he declined to specify—to Spar for using its brand for the stores and its technical expertise. Earlier this year, Landmark, which already runs department stores to home decor outlets in India, said it was in talks with a couple of foreign retailers to foray into India’s hypermarket and supermarkets business.

2007-08-21T08:14:00.000-07:00

Bharti Airtel to double tower capacity; targets rural users

Cellular operator Bharti Airtel will double the tower capacity to 80,000 by March 2008 as it grows its network to reach more towns and cities across the country, besides expanding in metros.

"Currently there are 40,000 towers. This year-end we would be doubling the capacity to total 80,000 towers. This will be the single largest roll out by any company in one year and promises very good coverage to our subscribers in the next 18 months'', Su nil Mittal, CMD, Bharti Enterprises told reporters on the sidelines of a CII seminar. Some of these towers could be capacity filling towers, while most of them will be coming up in new rural areas, he said, adding that in the last one year the company s et up 20,000 new towers.

The cellular major, in which Singapore Telecom holds 31 per cent stake, has already announced its decision to spend Rs 4,300 crore to expand transmission towers. Bharti's tower spending is part of a plan to spend as much as Rs 14,000 crore this year on network expansion to maintain its lead over Reliance and Vodafone Essar.

As mobile penetration goes to semi-urban and rural areas, operators are investing heavily for massive expansion of their mobile networks, infrastructure and subscriber numbers. The company also plans to sell shares in the tower subsidiary to investors.
Bharti Airtel shares were up marginally at Rs 827.20.

2007-08-19T09:25:00.000-07:00

Prominent bulk deals on NSE & BSE

Check out the major bulk deals happening on out stock market this week. This week due to market downtreand there has been more sellers in the bulk deal segment than buyers.

2007-08-18T07:08:00.000-07:00

Wall St soars after Fed's discount rate cut

U.S. stocks surged on Friday to end a turbulent week after the Federal Reserve cut the discount rate it charges banks in an emergency move to stabilise credit markets and keep the economy on track.

The Dow Jones industrial average jumped 233.30 points, or 1.82 per cent, to 13,079.08 - snapping a six-day streak of losses. The Standard & Poor's 500 Index shot up 34.67 points, or 2.46 per cent, to 1,445.94. The Nasdaq Composite Index soared 53.96 poin ts, or 2.20 per cent, to 2,505.03. But it was still down 1.6 per cent for the week. The S&P 500 slipped 0.5 per cent for the week, while the Dow's weekly loss was 1.2 per cent.

For the year, the Dow is still up 4.9 per cent, while the S&P is up nearly 2 per cent and the Nasdaq is up 3.7 per cent.

Trading was heavy on the NYSE, with about 2.48 billion shares changing hands, above last year's estimated daily average of 1.84 billion, while on Nasdaq, about 2.58 billion shares traded, also surging ahead of last year's daily average of 2.02 billion. A dvancing stocks outnumbered declining ones by a ratio of about 7 to 1 on the NYSE and by slightly more than 2 to 1 on the Nasdaq.

2007-08-17T05:25:00.000-07:00

Inflation falls to 4.05 per cent

Inflation declined to 4.05 per cent for the week ended August 4 as compared to 4.45 per cent in the previous week due to lower prices of fruits, vegetable, poultry chicken, moong and some manufactured items.

The wholesale prices-based inflation stood at 5.08 per cent in the corresponding week a year ago. During the week, prices of fruits, vegetables and poultry chicken declined by five per cent each, while those of moong and fish-marine fell by one per cent .

However, prices of aviation turbine fuels inched up by four per cent while tea, arhar and milk moved up. In manufactured products, imported edible oil, methanol, basic pig iron, foundry pig iron and bakery products got cheaper

2007-08-17T05:23:00.000-07:00

Rupee falls to lowest in nearly four months
The rupee fell 0.6 per cent at the open on Friday to its lowest level in nearly four months, as investors cut exposure to risky assets amid lingering fears of a global credit squeeze. At 9:01 a.m., the partially convertible rupee was at 41.60 per dollar - its lowest level since late April, and compared with 41.36/37 at Thursday's close when it fell 1.5 per cent.

2007-08-16T06:28:00.000-07:00

Stocks Available at Attractive Valuations

With stock market falling like nine pins today on account of global cues many of the frontline and midcaps are now available at attractive valuations.

At these prices there is hardly any downward movements in these stocks and the upper movement of 30%-40% is expected in 2 months of time frame.

Here are the handpicked stocks.

India Bulls Financials [ cmp. 495 ] -- Buy this stock for a target of 700 in 2 months. It has fallen from a level of 690 with lots of mergers and takeovers happening in our financial brokerage business company one can be rest assure that this stock has a huge way to go.
India Infoline [ cmp. 582 ] -- Similar kind of fundamental story as that of India Bulls financials this stock has also falled from a level of 800 which is closer to 40%. The borkerages company are sowing some where around 30-50% increase in profits on q to q basis. Buy for a targer of 800 in 3 months.
Ansal Properties and Infra [ cmp. 250 ] -- The reality is the most beaten down sector and there is very bit of reason to buy in these stocks. With the prices of properties across the country going up these stocks will see again upward movements without any speed brakers in coming months especially in October to December. Sev eral of our mutual funds hold this stock in heavy amount. Buy for a target of 450 in 4 months.
Bank of India [ cmp. 227 ] -- This stock has fallen around 10% in todays trading session and it had hit a high of 276 on 16th of July. With RBI hardly raising any crr or interest in coming days all banking stocks are likely to lead the rally in coming days especially the PSU banking stocks. Buy with a targer of 300 in 2 months.
Mphasis BFL [ cmp. 290 ] -- This is one of the most better performing IT co. in Midcap category of the market and this co. is on the acquisition by EDS which earlier came out with the buy price of 325 and there is every chances of increasing the offer price. Comopany came out with excellent set of numbers this quarter and with $ appreciating in coming days all IT stock will see the upward movements. Buy with a targert of 400 in 3 months.

2007-08-16T06:24:00.000-07:00

Rupee down 47 paise

The surprime crisis in the United States and the resultant turmoil in global equities continued to cast a shadow over rupee which fell by 47 points to more than two-month low of 41।22 against the US dollar.

The rupee today resumed below 41 level at 41।02/04 a dollar and fell further to 41.22 a dollar before being quoted at 41.12/13 a dollar in late morning deals. The Indian currency closed at 40.7450/7550 a dollar on August 14.

Forex Rates

The subprime crisis in the US and the resulting risk aversion worldwide weighed on the rupee sentiment, a forex dealer said। The rupee had risen by 10 per cent this year following consistent capital inflows into equity markets and the central bank's relu ctance to intervene in the forex market. The global markets went into turmoil on panic sales in equity markets on the subprime fears. Nikkei dropped by 525 points, Singapore straight times by 150 points, Taiwan by 310 points and Hang Seng by 790 points.

The benchmark Sensex also came under the global influence and registered its biggest fall this year of 653 points to touch the low of 14,363.57 points in the morning trade.

2007-08-16T06:20:00.000-07:00

Dalal Street witnesses Rs 1.70 lakh crore loss

Stock market investors on Thursday saw a whopping Rs 1,70,000 crore being wiped off their portfolios, taking the total loss since the US subprime crisis first hit domestic bourses late last month to nearly Rs 3,30,000 crore। The Bombay Stock Exc hange's 30-share benchmark index Sensex today plunged by 642।70 points, its second biggest one-day fall in absolute value terms The crash saw the cumulative market capitalisation of all the listed companies dropping to around Rs 42,77,000 crore, as agai nst Rs 44,44,000 crore after the market close on August

The total invested wealth in the stock market has seen sharp erosion since July 27, when the crisis in the US subprime credit segment first reached the Indian market। Since then, the total market capitalisation on the Indian bourses has gone down by near ly 3,30,000 crore from more than Rs 46,00,000 crore on July 26.

The combined market value of the 30 blue chip firms on the benchmark BSE Sensex has fallen close to Rs 2,25,000 crore since July 27, including about Rs 90,000 crore today itself।

Among the Sensex blue chips, Reliance Industries lost Rs 12,910 crore today, while ONGC saw an erosion of Rs 7,518 crore. Both RIL and ONGC have lost close to Rs 28,000 crore each since July 27. However, the biggest market cap loss in absolute value ter ms has been registered by state-run power equipments major BHEL, which has seen an erosion of more than Rs 37,000 crore since July 27.

2007-08-15T08:50:00.000-07:00

HDFC shortlists 3 foreign cos for insurance biz

Housing lender HDFC has shortlisted three foreign companies in its partner selection process for the general insurance business and is likely to complete the exercise in the next two-three weeks।

''We have shortlisted three names and it will take two-three weeks to finalise the foreign partner,'' HDFC Executive Director, Ms Renu Sud Karnad, told PTI.
Without giving the specific names, she said the contenders for the 26 per cent stake in its non-life insurance business were from the US, Europe and Australia।

It is believed that the shortlisted firms include the US-based Travelers and Australia's IAG Group। Besides, the world's second largest reinsurer Munich Re's insurance arm ERGO is also being considered.

Without confirming or denying any name, Munich Re last week said MoUs with partners (life and non-life) are close to finalisation। The joint venture for general insurance could happen earlier than life insurance venture and the likelihood of partnering with the private sector is higher for the non-life venture, Munich Reinsurance Chairman, Mr Nikolaus von Bomhard, had said.

HDFC also runs a life insurance firm in joint venture with UK's Standard Life

2007-08-14T08:59:00.001-07:00

Nokia warns on battery explosion risks

Nokia has announced that 46 million batteries used in its phones could overheat and result in explosion. Nokia has said it would replace them free to consumers while negotiating with battery maker Matsushita (6752.T) over who would bear the costs.

"Nokia has identified that in very rare cases the Nokia-branded BL-5C batteries...could potentially experience overheating initiated by a short circuit while charging, causing the battery to dislodge," it said in a statement on Tuesday. The world`s top cellphone maker said about 100 such incidents had been reported globally but no serious injuries or property damage had been reported.

It said it was working closely with Matsushita Electric Industrial Co. Ltd., who made the batteries in question between December 2005 and November 2006, to investigate the problem. Nokia said replacing millions of batteries would have some financial impact, but Matsushita would pay part of the costs. Analyst Richard Windsor of Nomura estimated the cost to Nokia at a maximum of 100 million euros ($137 million).

"Historically, when there`s been a problem of this nature the supplier has had to pay," he said. Research firm Gartner said one such battery would cost around $4. Shares in Nokia were 0.9 percent lower at 22.42 euros by 6:46 a.m. EDT, helping nudge the DJ European technology index (.SX8P) down 0.5 percent.

Jyske Bank downgraded its rating on Nokia shares to "reduce" from "buy," saying every third Nokia user would now have to check their phone`s batteries. "I think this will hurt Nokia`s brand a lot and that`s the most precious asset Nokia has," Jyske analyst Soren Linde Nielsen said. Nokia`s brand is valued at $33.7 billion, according to Interbrand, making it the world`s fifth most valued brand after Coca-Cola (KO.N), Microsoft (MSFT.O), IBM (IBM.N) and GE (GE.N).

The "BL-5C" is Nokia`s most widely used battery, powering among others low-end 1100 series phones and multimedia handsets N70 and N91. Several suppliers have made a total of more than 300 million of them for Nokia. Nokia said it had issued a product advisory

(http://www.nokia.com/batteryreplacement) to consumers based on preliminary findings of an ongoing investigation. v "By reacting swiftly and responsibly, and by being fully transparent, we believe that consumers will continue to view Nokia as a responsible and trustworthy brand," Robert Andersson, head of customer and market operations at Nokia told Reuters.

Matsushita said there had been a rare problem in the manufacturing process rather than in the design of the batteries.

It said the effect on its earnings was uncertain. "We are still in discussion with Nokia about how to divide the replacement cost," said Matsushita spokesman Akira Kadota. Marianne Holmlund, spokeswoman for Nokia, said in similar cases in the car industry less than half of consumers eligible for replacement had used the option. v In 2003, a Belgian consumer organization said some Nokia batteries had a short circuit risk, but the Finnish firm denied those claims and said media reports of exploding phone batteries were all related to counterfeits.

Last year, Sony Corp (6758.T) was hit by hefty costs to recall 9.6 million laptop PC batteries which could catch fire from overheating.

What is the Remedy ??

Visit the site -- http://www.nokia.com/batteryreplacement/en/

and enter your 24 digit battery number to check.

Nokia BL-5C battery

The BL-5C batteries which are subject to the product advisory were used with the following Nokia models or separately as accessories:

Nokia 1100, Nokia 1100c, Nokia 1101, Nokia 1108, Nokia 1110, Nokia 1112, Nokia 1255, Nokia 1315, Nokia 1600, Nokia 2112, Nokia 2118, Nokia 2255, Nokia 2272, Nokia 2275, Nokia 2300, Nokia 2300c, Nokia 2310, Nokia 2355, Nokia 2600, Nokia 2610, Nokia 2610b, Nokia 2626, Nokia 3100, Nokia 3105, Nokia 3120, Nokia 3125, Nokia 6030, Nokia 6085, Nokia 6086, Nokia 6108, Nokia 6175i, Nokia 6178i, Nokia 6230, Nokia 6230i, Nokia 6270, Nokia 6600, Nokia 6620, Nokia 6630, Nokia 6631, Nokia 6670, Nokia 6680, Nokia 6681, Nokia 6682, Nokia 6820, Nokia 6822, Nokia 7610, Nokia N70, Nokia N71, Nokia N72, Nokia N91, Nokia E50, Nokia E60
“Nokia” and “BL-5C” are printed on the front of the battery.

On the back of the battery, the Nokia mark appears at the top, and the battery identification number (consisting of 26 characters) is found at the bottom.

2007-08-13T19:10:00.000-07:00

A look at the Top Performing Mutual Funds

Here is the close analysis of top performing mutual funds in equity diversified segment of our country.

Funds------------------NAV as on 13 Aug 07----1 yr return

JM Basic-----------------------------27.04------75.49
Standard Chtd. Premier Equity--17.36------68.81
ICICI Service Industries------------17.46------61.97
DBS Chola Ooportunities----------31.84------59.04
Taurus Starshare--------------------49.01------56.93

Here is the collection of top five holding of the mutual funds mentioned above as on 31st July 07 as % of net assets.

JM Basic [ net asset 306 cr]

Appolo Tyres --- 5.92
Action Cons. -----5.91
Maha Seamless---5.22
Bharti Shipyard--5.02
Grasim Ind.-------4.95

2. Std Chtd Pre Equity [ net asset 371 cr]

10.89% Sundram Finance 02/05/08 ----- 6.87
Shree Renuka Sugars ---------------------4.63
Educomp Solutions------------------------4.46
Pantloon Retail----------------------------4.38
Deep Industries----------------------------4.28

3. Pru ICICI Serv. Ind. [ net asset 673 cr ]

ICICI Bank -----------------------7.55
Bharti Televentures------------4.78
ICICI Bank------------------------4.36
Patel Engg.----------------------3.60
Nucleus Software---------------3.24

2007-08-12T20:16:00.000-07:00

RIL to get $100 million loan from EDC for gas project

Export Development Canada (EDC) has announced its $100 million (Rs406 crore) participation in a 10-year $2 billion syndicated loan for Reliance Industries Limited (RIL).

RIL will use the funds for a gas exploration and development project. “EDC’s business in India continues to expand as Canadian exporters find meaningful ways to grow their business in this opportunity rich market,” Eric Siegel, president and CEO of RDC, Canada’s largest export credit agency, said.

Siegel said: “While a number of Canadian companies already have dealings with Reliance, EDC is pleased to have entered into this facility to help develop Canadian relationships with one of India’s most important companies.”

EDC business volumes in the Indian market have grown considerably following the opening of its permanent representation in New Delhi in 2004, from CAD$267 million at the close of 2003 to CAD$730 million in 2006.

EDC currently facilitates approximately 48% of Canada’s merchandise trade with India. EDC has particularly highlighted the infrastructure, telecommunications, automotive, agrifood processing and storage, mining and energy sectors as growth areas for Canada-India business.

It is currently planning on opening a second permanent Indian representation in Mumbai by the end of 2007. RIL is India’s largest private-sector company and part of Reliance Group.

2007-08-12T09:54:00.000-07:00

Hot Stocks for Monday 13 August 2007

If market manages to open in green and closes in green then one can see some hefty movements in these stocks.

Easun Reyrolle Ltd - cmp 242 target 253
Bank of Rajasthan - cmp 109 target 113
Ansal Buildwell -cmp 79 target 84
Escorts - cmp 90 target 94

Buy these stocks early in the trading session in the morning and wait for the targets to come and then book profits.

All the above calls are intraday.
Also one can look for better gains in hold for short term.

2007-08-11T13:39:00.000-07:00

This Weeks Bulk Deal on BSE and NSE

Check out the Bulk deal happening on our domestic stock exchanges this will give one a clear cut idea of what the big fish are buying or selling these days on stock market.

Few Buying stock includes stocks as Sujana Metal, Omaxe, Federal Bank , Northgate Tech.

Source- hindubusinessline

2007-08-08T05:56:00.000-07:00

Puravankara Projects IPO gets fully subscribed

Initial public offer of Puravankara Projects on Wednesday got subscribed 1.83 times on the last day of its issue. As per the latest data available on the bourses, the IPO which closed today received bids for 3.92 crore shares against the 2.15 cr ore shares on offer. The price of the IPO has been fixed between Rs 400 and Rs 450 per share.

Earlier, the issue was supposed to close on August 3 but due to low subscriptions the company had extended the issue period till today and lowered the price band from Rs 500-525 a share before.

The issue would constitute 10.50 per cent of the fully diluted post-issued paid up capital of the company.

DSP Merrill Lynch Ltd, Citigroup Global Markets India Private Ltd and Kotak Mahindra Capital Company Ltd are the Book Running Lead Managers for the issue. Bids submitted by the bidders at any price in the original band of Rs 500-525 would be treated as bids at the higher end of the revised price band of Rs 450. The bids submitted by bidders at the cut-off price in the earlier price band would be treated as bids at the cut-off price in the revised price band.
The Bangalore-based firm is set to foray into the international market with its first overseas project to be launched in the next 2-3 months in Sri Lanka.

2007-08-06T07:31:00.000-07:00

Bharti, Wal-Mart sign jt venture pact for wholesale biz

Telecom major Bharti and world's biggest retailer Wal-Mart Stores Inc on Monday signed an agreement to form a joint venture for their wholesale cash and carry business. The 50:50 joint venture would be called Bharti Wal-Mart Pvt Ltd.

The first wholesale facility is likely to be opened by the end of 2008. In the next seven years, 10-15 wholesale facilities are likely to be opened. Each such facility would be spread over an area of 50,000-100,000 square feet. These would sell vegetable s, groceries, fruits, staples, footwear, stationary, clothing, consumer durables and other products, Mr Rajan Mittal, Managing Director of Bharti Enterprises told reporters here.

The companies, however, did not disclose the amount of investment in the business. Mr Raj Jain, country president Wal-Mart India said the wholesale venture would cater to all the retailers and not just Bharti Enterprises' upcoming retail stores.

2007-08-02T06:00:00.000-07:00

Good Stocks available at Low Prices

With market at very high level and with a 7% fall in the market its the time to find out stocks which will give the sure shot return from these levels and the downside in these stocks remains very slim unless a heavy selloff comes in the market of around 10%.

Return in these stocks looks very good of 10-15% in very short time as from a week to ten days.

Escorts [ cmp- 92.85 first target 103 second 112
Ansal Properties [ cmp- 251.75 first target 277 second 294 ]
WWIL [ cmp- 55.10 first target 65 second 76 ]
Easun Reyrolle [ cmp- 233.55 first target 260 second 300 ]
Ansal Buildwell [ cmp- 79.25 first target 87 second 96 ]

The cmp is on todays closing at BSE.

Buy these stocks and wait for the gain of 7-12% if it comes in a day or a week then book your profits and enter again at lower levels.

2007-08-02T04:36:00.000-07:00

Oil prices retreat from record New York high

World oil prices fell on Thursday, 2 August, a day after New York hit a record high $78.77 a barrel on news of sliding American crude reserves and as traders looked to recovering US refinery output.

New York’s main futures contract, light sweet crude for delivery in September, fell 68 cents to $75.85 a barrel in electronic deals before the start of US floor trading.
The contract had surged to $78.77 on Wednesday after the US Department of Energy (DoE) said crude stockpiles sank 6.5 million barrels in the week ended 27 July.

That was almost six times more than market expectations for a fall of 1.13 million barrels, and sparked concern over tight global energy supplies, traders said.
In London on Thursday, the price of Brent North Sea crude for September delivery slid 65 cents to $74.70 a barrel in electronic trade.

“The overall decline can be mainly explained by the latest data showing an increase in refinery throughput levels in the US, which eased fears of insufficient product supplies,” said analysts at Vienna’s PVM Oil Associates.

The DoE had also revealed Wednesday that US refinery utilisation rates rose to 93.6 percent in the week to 27 July — their highest level in 11 months.

The increase in refinery rates was initially overlooked by investors, who saw the much larger than expected drop in crude reserves as heralding a new record in New York.
However, they soon switched focus to the rise in refining rates that resulted in an increase in both US gasoline (petrol) and distillates stockpiles.

Despite Thursday’s losses, prices remain underpinned by low US crude stocks, geopolitical tensions, risks to supply from the North Atlantic hurricane season and OPEC’s seeming reluctance to increase output, analysts said.

“Increasing (US) crude oil demand and decreasing imports outstripped the market consensus,” added Societe Generale analysts of the US stocks report.
The New York record also sparked another call from the International Energy Agency for oil producers’ grouping OPEC to increase its production.

OPEC members, who supply about 40 percent of the world’s crude, insist that recent gains in prices are not due to tight supply.

The Organisation of the Petroleum Exporting Countries has resisted previous IEA calls to pump more crude to keep oil prices down. The next OPEC meeting is scheduled for September 11 in Vienna.

This week’s all-time high in New York topped the previous record of $78.40 set on 13 July, 2006 amid violence between Israel and Lebanon.