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Book profits in Jindal Steel Power: Phani Sekhar

Written By Unknown on Senin, 30 Desember 2013 | 20.07

Phani Sekhar of Angel Broking told CNBC-TV18, "It is a good idea to book profits in  Jindal Steel & Power because I do not see much of an upside in the stock. The core business is suffering. The spot power rates are down. The steel prices are not picking up because of poor infrastructure spend."

"So on the balance there are core problems for JSPL which are not going to go away in a hurry and valuations also at around 6.5 times FY15 EV/EBITDA are not really cheap for a stock that has lost so much already and on the evidence of what the future performance will be is still trading to my mind at fair valuations," he added.

On December 30, 2013 Jindal Steel & Power ended at Rs 263, up Rs 0.80, or 0.31 percent.

The share touched its 52-week high Rs 472.60 and 52-week low Rs 181.55 on 02 January, 2013 and 02 August, 2013, respectively.

The company's trailing 12-month (TTM) EPS was at Rs 19.68 per share. (Sep, 2013). The stock's price-to-earnings (P/E) ratio was 13.36. The latest book value of the company is Rs 132.09 per share. At current value, the price-to-book value of the company was 1.99. The dividend yield of the company was 0.61 percent.



20.07 | 0 komentar | Read More

Hold TVS Motor Company: Phani Sekhar

Dec 30, 2013, 06.09 PM IST

Phani Sekhar of Angel Broking suggests holding TVS Motor Company.

Tags  Phani Sekhar of Angel Broking, TVS Motor, Bajaj Auto, Hero Motocorp

Your Stocks at 02:00 pm

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Hold TVS Motor Company: Phani Sekhar

Phani Sekhar of Angel Broking suggests holding TVS Motor Company.

Like this story, share it with millions of investors on M3

Hold TVS Motor Company: Phani Sekhar

Phani Sekhar of Angel Broking suggests holding TVS Motor Company.

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Phani Sekhar of Angel Broking told CNBC-TV18, "2013 has been exceptional for TVS Motor , unlikely that performance will be repeated. Exports are contributing about 42 percent to TVS Motor overall volumes and we are not seeing pressure on any of those segments. Actually in the beginning of the year a lot of people including me thought that this competition from Honda will be really detrimental for TVS because the number three number four player usually gets edged out in a multiplayer competition."

He further added, "The rupee depreciation has come as a god sent for TVS because they are exporting almost 16 percent of their volumes and that explains this stupendous performance that they have recorded so far. Going forward I guess the stock might consolidate a little bit as a lot of their good performing models are being revamped and newer models are being introduced in 2014."

"We need to keep our fingers crossed as to what happens out there. But the good thing that is going for the stock is it is relatively inexpensive and going forward the valuation difference between TVS and  Bajaj Auto and  Hero Motocorp as it always happens during good times, might narrow down a little bit which might provide good returns to investors. So there are pros and cons but on the balance I think investor can hold on and if the stock gives you opportunities at lower levels you can average it down so that over the long-term you make around 20-25 percent even from these levels."


Action in TVS Motor Company

The Best New Year Parties in India


20.07 | 0 komentar | Read More

Below Rs 163, DLF may slip to Rs 150: Kunal Bothra

Kunal Bothra of LKP told CNBC-TV18, "From a short trading point of view Rs 164-163 is a good support for DLF . If it trades above this support level, the short term trend could be on the bullish side. However, if it breaks Rs 163 then there is a definite cause of concern and we are looking at anywhere close to Rs 150 on DLF."

On December 30, 2013 DLF ended at Rs 166.40, down Rs 4.80, or 2.80 percent.

The share touched its 52-week high Rs 289.20 and 52-week low Rs 120.25 on 12 March, 2013 and 06 August, 2013, respectively.



20.07 | 0 komentar | Read More

Stay invested in Sun Pharma: Phani Sekhar

Dec 30, 2013, 06.11 PM IST

Phani Sekhar of Angel Broking advises to hold on Sun Pharmaceutical Industries.

Tags  Phani Sekhar of Angel Broking, Sun Pharma

Your Stocks at 02:00 pm

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Stay invested in Sun Pharma: Phani Sekhar

Phani Sekhar of Angel Broking advises to hold on Sun Pharmaceutical Industries.

Like this story, share it with millions of investors on M3

Stay invested in Sun Pharma: Phani Sekhar

Phani Sekhar of Angel Broking advises to hold on Sun Pharmaceutical Industries.

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Phani Sekhar of Angel Broking told CNBC-TV18, "The investor can continue to hold on  Sun Pharmaceutical Industries because I don't see any red flags except for the valuations being expensive. However, as long as the performance is good I don't see even that as much of a problem."

"More importantly 2014 is most likely to be a year in which Sun Pharma kind of businesses will attract a lot of investors. Since the performance also continues to be promising especially from the export front, I guess it will be a good idea for the investor to keep holding on," he added.


The Best New Year Parties in India


20.07 | 0 komentar | Read More

Indian mkt will be 'very, very volatile' in 2014: Analyst

Written By Unknown on Minggu, 29 Desember 2013 | 20.07

Indian stocks are likely to head into a correction starting 2014, which could last for at least one, or more, quarters, according to KR Bharat, MD, Advent Advisors.

As part of a global equity rally, Indian shares have logged about 7 percent year-to-date, and are currently perched close to their all-time highs. But the rally was largely driven by easy liquidity sloshing around because of the loose monetary policies of the US Federal Reserve and other central banks, Bharat told CNBC-TV18 in a discussion.

As a result, as the Fed starts to unwind its stimulus that it unveiled in the aftermath of the 2008 financial crisis, stocks will take a hit, he said, adding that the Fed could wind down its monetary stimulus by late 2014 or early 2015.

"So the liquidity flows that played a large role in the 2013 rally will not play the same role in 2014 and if India is to witness good equity performance, it has to be on the basis of strong fundamentals of the Indian economy and I think we are a fair distance from that," he said.

"Indian equities could correct for the first quarter of 2014 or all the way through two or three quarters, before beginning a sustained bull market rally towards the end of 2014," Bharat said.

Also read: 2013 in review: Pharma's year of quality woes

Go easy on equities

When asked what strategy investors could adopt in an environment where his prognosis comes true, he said individual investors' allocation to stocks could be 10-20 percent, which could be increased to 50-60 percent towards the end of 2014.

Even this year, developed markets such as US have outperformed Indian markets – the S&P 500 has clocked a 30 percent gain -- and Bharat believes the outperformance is likely to continue into 2014. "Even within emerging markets, stocks in countries like Malaysia, Indonesia, Vietnam, Taiwan, which are making fairly significant strides [are likely to do well]."

Volatility could also increase thanks to the central-government elections due to take place in May next year, Bharat said. "For every single opinion poll starting from the end of February, people are going to come up with different outcomes and with the publication of each these polls you are going to have huge volatility."

"So the only thing you can say with certainty about 2014: It is going to be very, very volatile."



20.07 | 0 komentar | Read More

Places to dine on New Year`s Eve

Mumbai

Go the Whole Hog@Sofitel


This New Year's there's a feast for every kind of foodie at Bandra Sofitel. Buffet junkies can settle in at Jyran. The kids can party on in Pondicherry Café, and vegeterians can have their senses awakened at  Tuskers.
 


20.07 | 0 komentar | Read More

Will nation accept Narendra Modi's strong note of anguish?

R Jagannathan
Firstpost.com

Will the nation accept Narendra Modi's very strong note of "anguish" over 2002 and move on? Will his deep statement of "grief" be an electoral game-changer in 2014?

The nation will tell us what the majority think in May 2014. For, when it comes to Modi, the reaction is always black or white. Reactions are binary: Like/Dislike. Those who like him, will accept anything he says. Those who dislike him will find ways to dismiss what is probably his strongest near-apology about the Gujarat communal rioting under his watch as not good enough (read his full statement here ).

However, at the very least it proves one thing: his " puppy " analogy, used in a July interview to describe the unfortunate deaths in 2002, and widely criticised as insensitive, now appears to have been a case of poor articulation. His statement about his feelings at that time have been described in his blog today. There are no gaffes in it, indicating that Modi is making a real effort to reach out to Muslims indirectly. He said: "'Grief, sadness, misery, pain, anguish, agony – mere words could not capture the absolute emptiness one felt on witnessing such inhumanity." If it succeeds in dispelling the strong antipathy of Muslims towards him, it will have have served its political purpose.

However, the statement will be seen differently by Modi-bhakts and Modi-baiters.

For too many of the latter kind, justice for 2002 has come to mean putting Modi in jail, and not the conviction and sentencing of the guilty in various cases. There are over a hundred convictions now, including many carrying life sentences, but for the Left-Liberal caucus in Delhi, the crimes of 2002 are only about Modi.

Those who hate him, including those who have been demanding an apology in the hope that he won't do any such thing, have now raised the bar, now that he has expressed words of some contrition. What he said does not even sound like an apology, some will say. Others will pooh-pooh it, and wonder how "anguish" expressed after 11 years can be counted as the real thing.

Some will contrast what Modi said with what Manmohan Singh said about the 1984 anti-Sikh killings – 21 years later in 2005. Modi said he "was shaken to the core" by the events of 2002.

Manmohan Singh, on the other hand, said it with fewer words, but it was a clear apology . "I have no hesitation in apologising to the Sikh community. I apologise not only to the Sikh community, but to the whole Indian nation because what took place in 1984 is the negation of the concept of nationhood enshrined in our Constitution."

So, in formal terms, Singh's was a fuller apology than Modi's. It said a clear sorry.

But did it bring any closure? A close examination does not show this to be true. The apology came not only 21 years after the event, but from a Sikh prime minister who had nothing to do with it. It came not from the Congress party or the Gandhi family, but their appointed caretaker.

Unlike the Gujarat cases, the Sikh killings have not resulted in any kind of significant convictions of the perpetrators. This, even though the casualties were more than twice as high as in Gujarat. The distribution of casualties heavily one-sided in 1984 -- with only Sikhs being killed. The Gujarat riots saw more people die from police firings than through communal targeting –- suggesting that policing was not entirely abandoned. In 1984, they were.

Another point of difference is this: in 1984, Rajiv Gandhi campaigned for the Congress by tapping into the anti-Sikh sentiment that was prevalent after the assassination of Indira Gandhi. The elections were held barely two months after the assassination, and so even the Election Commission helped Rajiv achieve a huge sympathy wave.

In 2002, Modi campaigned on a veiled anti-minority plank, but the Election Commission delayed the elections to the Gujarat assembly for well over six months in order to avoid giving people a chance to vote in anger. But Modi still won hands down.

But despite a continuous barrage of court cases and media criticism, all of which he weathered, we still find only Modi in the dock, despite a near-apology or expressions of pain and anguish.

Quite clearly, the bar will be raised continuously for Modi.

However, there is a difference between the phony Delhi consensus against accepting a Modi apology and how the ordinary Indian Muslim will view it. Most Muslims may still not vote for him, but many of them will probably accept that the Modi of 2014 is not the same Modi as 2002.

The big question is how this impacts their voting patterns.This is really the biggest question of 2014, not whether Modi will win. If many Muslims find the near-apology sincere enough, 2014 will be a game-changing election.

The writer is editor-in-chief, digital and publishing, Network18 Group



20.07 | 0 komentar | Read More

A snow clad New Year’s eve in Shimla

After a white Christmas, it's time for a snow clad New Years in Shimla, adding to the delight of tourists flocking the hill stations of Himachal Pradesh. Few other places in the state such as Kullu, Manali, Rohtang Pass, Lahaul and Spiti will also receive snowfall.

A fairly good Western Disturbance will start affecting weather from today onwards and will bring snow and rain in the lower hills just before the New Year's celebrations. At present the maximum and minimum temperatures in Shimla are 13 degrees and 1 degree, respectively.

Tourists here should start bracing up for cold wave conditions as night temperatures may fall to sub-zero levels. Day temperature in Shimla will come down below 5 degrees. We expect a cloud cover in another 24 hours, gradually reducing the diurnal variation of temperatures. Hoteliers here are hoping that tourists will throng in large numbers, ahead of New Year's.

picture courtesy- wespeaknews

By: Skymetweather.com



20.07 | 0 komentar | Read More

Green Laws: Is India in line with rest of the world?

Written By Unknown on Sabtu, 28 Desember 2013 | 20.07

Two successive environment ministers in the UPA cabinet have been seen as obstructive of investments. Is India Inc unable to come to terms with environmental costs or is the ministry being unreasonable?

According to environment ministry's website, 72 coal mining projects are awaiting environmental clearance, out of which only nine came in 2013. The rest of them are pending for over a year. Ninety one mining projects awaiting environment clearance, only 25 came in this year. 118 industrial projects awaiting environment clearance, only 13 came in this year.

If one does the math, 83 percent of the projects have waited well over one year. That's the number of projects awaiting environment clearance, more than double that number of projects at any point in time await terms of reference from the ministry. Why this inordinate delay in clearance? Aren't there well laid out standards in most industries? Is the delay on account of haggling by the industry which doesn't want to meet its obligations or is unable to understand the obligations or is it that the administration is either incompetent or the wrong people are in the assessment space?

Former Environment Secretary and currently with TERI Pradipto Ghosh and Seshagiri Rao, Group CFO at JSW Steel, discuss the issue on CNBC-TV18.

Also Read: No files will be kept pending in Environment Min: Moily

Below is the edited interview transcript

Q: Quickly if you can tell us what is a typical process that a project travels from the moment it enters the environment ministry to its final disposal?

Ghosh: We are talking about the category A projects that is projects which are required to be appraised at the level of these central government. And there are other projects which are cleared at the level of the states. We are talking about the ones which require clearance at the central level.

The process starts with the proponent submitting an application with a check list of the impacts of the proposed project to the ministry, which in turn submits it to the notified expert group. The expert group in consultation with the proponent and their consultants, develop the terms of reference for the environmental impact assessment (EIA) study.

We need to understand that the EIA study is not a checklist which is tick-marked. It is a detailed technical examination which requires a year to produce and which typically is about 400-500 pages long.If this seems onerous, let me clarify that this is the worldwide practice, whether it is in the US, whether it is in Europe, whether it is in Australia, it is exactly the same kind of document.

Then once the proponent has prepared the EIA document, and I must emphasize it is up to the proponent to prepare it, it is then submitted to the environment ministry and the expert committee has a 145 days to deliberate upon it in consultation with the project proponent and their consultants. Then at the closer of the period of 145 days they are supposed to send their recommendation within 15 days to the regulator, which happens to be the ministry.

Then the ministry, which includes the minister concerned, can take another 45 days to take a final decision and of course if the ministry does not take a final decision at the level of minister within 45 days then the project proponent is deemed to have got environment clearance in clear legal terms on the basis of the minutes of the expert committee's deliberation.

So this is the process in short. Now in the course of this conversation I can point out to some of the reasons why it takes longer than that by way of comparison. The notified period in the World Bank for their own projects after submission of the EIA is one year, the notified period in the case of Canada is two years and this is -- in two years ago -- after they had comprehensively overhauled that environment clearance system. So the Indian system -- the way it is designed to work is not out of line by any means with the worldwide practice.

Q: If it is a 145 days or maybe 200 days at best that the ministry should take after a proposal is submitted for environment clearance, my numbers show that out of some 300-odd projects only 85 have come in this year, clearly many projects are waiting for well-over 365 days to get environmental clearance. I am sure you must have gone through environmental clearances for many of your projects, where is the bottleneck?

Rao: As Dr Ghosh has explained there are category A and category B. So in the case of category A, the steps, which are involved, either for getting approval of expert appraisal committee (EAC) for terms of reference (TOR) and then preparing an environmental impact assessment report and then doing a public hearing. After public hearing again approaching environmental clearance and if at all it is located in the forest again forest 1 clearance, forest 2 clearance is a prerequisite for environmental clearance. There is no time limit for the forest clearances.

After the forest clearance, it is referred for environmental clearance, if it is located near the wildlife sanctuary or any such area, wildlife departmental approval is required. That takes time. So if you see the whole process which is involved, it is not parallel, it is sequential. There is no single window clearance. If there is a problem at one stage then the project gets delayed.

Q: Is that the only issue that it is not parallely done, these several clearances, or is it that even otherwise there is an unconscionably long time?

Rao: It is unconscionably long time why I am saying again in a public hearing for instance if you have to have a public hearing, in my view, it should be restricted only to the items which are there in the environmental impact assessment study and will impact the environment. Today public consultation when it is happening, first the people who are not affected, outsiders will come to the public hearing, they also raise irrelevant issues which are nowhere connected with the project nor EIA. So all those grievances sought to be addressed before again we approach back, based on the minutes of the public hearing.



20.07 | 0 komentar | Read More

Indian mkt will be 'very, very volatile' in 2014: Analyst

Indian stocks are likely to head into a correction starting 2014, which could last for at least one, or more, quarters, according to KR Bharat, MD, Advent Advisors.

As part of a global equity rally, Indian shares have logged about 7 percent year-to-date, and are currently perched close to their all-time highs. But the rally was largely driven by easy liquidity sloshing around because of the loose monetary policies of the US Federal Reserve and other central banks, Bharat told CNBC-TV18 in a discussion.

As a result, as the Fed starts to unwind its stimulus that it unveiled in the aftermath of the 2008 financial crisis, stocks will take a hit, he said, adding that the Fed could wind down its monetary stimulus by late 2014 or early 2015.

"So the liquidity flows that played a large role in the 2013 rally will not play the same role in 2014 and if India is to witness good equity performance, it has to be on the basis of strong fundamentals of the Indian economy and I think we are a fair distance from that," he said.

"Indian equities could correct for the first quarter of 2014 or all the way through two or three quarters, before beginning a sustained bull market rally towards the end of 2014," Bharat said.

Also read: 2013 in review: Pharma's year of quality woes

Go easy on equities

When asked what strategy investors could adopt in an environment where his prognosis comes true, he said individual investors' allocation to stocks could be 10-20 percent, which could be increased to 50-60 percent towards the end of 2014.

Even this year, developed markets such as US have outperformed Indian markets – the S&P 500 has clocked a 30 percent gain -- and Bharat believes the outperformance is likely to continue into 2014. "Even within emerging markets, stocks in countries like Malaysia, Indonesia, Vietnam, Taiwan, which are making fairly significant strides [are likely to do well]."

Volatility could also increase thanks to the central-government elections due to take place in May next year, Bharat said. "For every single opinion poll starting from the end of February, people are going to come up with different outcomes and with the publication of each these polls you are going to have huge volatility."

"So the only thing you can say with certainty about 2014: It is going to be very, very volatile."



20.07 | 0 komentar | Read More

Will nation accept Narendra Modi's strong note of anguish?

R Jagannathan
Firstpost.com

Will the nation accept Narendra Modi's very strong note of "anguish" over 2002 and move on? Will his deep statement of "grief" be an electoral game-changer in 2014?

The nation will tell us what the majority think in May 2014. For, when it comes to Modi, the reaction is always black or white. Reactions are binary: Like/Dislike. Those who like him, will accept anything he says. Those who dislike him will find ways to dismiss what is probably his strongest near-apology about the Gujarat communal rioting under his watch as not good enough (read his full statement here ).

However, at the very least it proves one thing: his " puppy " analogy, used in a July interview to describe the unfortunate deaths in 2002, and widely criticised as insensitive, now appears to have been a case of poor articulation. His statement about his feelings at that time have been described in his blog today. There are no gaffes in it, indicating that Modi is making a real effort to reach out to Muslims indirectly. He said: "'Grief, sadness, misery, pain, anguish, agony – mere words could not capture the absolute emptiness one felt on witnessing such inhumanity." If it succeeds in dispelling the strong antipathy of Muslims towards him, it will have have served its political purpose.

However, the statement will be seen differently by Modi-bhakts and Modi-baiters.

For too many of the latter kind, justice for 2002 has come to mean putting Modi in jail, and not the conviction and sentencing of the guilty in various cases. There are over a hundred convictions now, including many carrying life sentences, but for the Left-Liberal caucus in Delhi, the crimes of 2002 are only about Modi.

Those who hate him, including those who have been demanding an apology in the hope that he won't do any such thing, have now raised the bar, now that he has expressed words of some contrition. What he said does not even sound like an apology, some will say. Others will pooh-pooh it, and wonder how "anguish" expressed after 11 years can be counted as the real thing.

Some will contrast what Modi said with what Manmohan Singh said about the 1984 anti-Sikh killings – 21 years later in 2005. Modi said he "was shaken to the core" by the events of 2002.

Manmohan Singh, on the other hand, said it with fewer words, but it was a clear apology . "I have no hesitation in apologising to the Sikh community. I apologise not only to the Sikh community, but to the whole Indian nation because what took place in 1984 is the negation of the concept of nationhood enshrined in our Constitution."

So, in formal terms, Singh's was a fuller apology than Modi's. It said a clear sorry.

But did it bring any closure? A close examination does not show this to be true. The apology came not only 21 years after the event, but from a Sikh prime minister who had nothing to do with it. It came not from the Congress party or the Gandhi family, but their appointed caretaker.

Unlike the Gujarat cases, the Sikh killings have not resulted in any kind of significant convictions of the perpetrators. This, even though the casualties were more than twice as high as in Gujarat. The distribution of casualties heavily one-sided in 1984 -- with only Sikhs being killed. The Gujarat riots saw more people die from police firings than through communal targeting –- suggesting that policing was not entirely abandoned. In 1984, they were.

Another point of difference is this: in 1984, Rajiv Gandhi campaigned for the Congress by tapping into the anti-Sikh sentiment that was prevalent after the assassination of Indira Gandhi. The elections were held barely two months after the assassination, and so even the Election Commission helped Rajiv achieve a huge sympathy wave.

In 2002, Modi campaigned on a veiled anti-minority plank, but the Election Commission delayed the elections to the Gujarat assembly for well over six months in order to avoid giving people a chance to vote in anger. But Modi still won hands down.

But despite a continuous barrage of court cases and media criticism, all of which he weathered, we still find only Modi in the dock, despite a near-apology or expressions of pain and anguish.

Quite clearly, the bar will be raised continuously for Modi.

However, there is a difference between the phony Delhi consensus against accepting a Modi apology and how the ordinary Indian Muslim will view it. Most Muslims may still not vote for him, but many of them will probably accept that the Modi of 2014 is not the same Modi as 2002.

The big question is how this impacts their voting patterns.This is really the biggest question of 2014, not whether Modi will win. If many Muslims find the near-apology sincere enough, 2014 will be a game-changing election.

The writer is editor-in-chief, digital and publishing, Network18 Group



20.07 | 0 komentar | Read More

Places to dine on New Year`s Eve

Mumbai

Go the Whole Hog@Sofitel


This New Year's there's a feast for every kind of foodie at Bandra Sofitel. Buffet junkies can settle in at Jyran. The kids can party on in Pondicherry Café, and vegeterians can have their senses awakened at  Tuskers.
 


20.07 | 0 komentar | Read More

MakeMyTrip says passenger growth robust despite high fares

Written By Unknown on Jumat, 27 Desember 2013 | 20.07

Rajesh Magow, Co-founder and Ceo – India, MakeMyTrip Inc, spoke with CNBC-TV18 about the festive season and whether consumers have put off traveling due to high fares.

Also read: CCI to probe high air fares for 5th time

Below is the transcript of the interview.

Q: How is this holiday season been not just for MakeMyTrip but for all the airlines and hotels that you list on your website?

A: The holiday season has been reasonably good despite the fares. As you mentioned, the fares have been higher from the last year both for airlines – 20 percent year-on-year and hotels – 10-15 percent YoY. But the good news is that Indian consumers are still traveling and the season has been reasonably good.

For the whole year, the total passenger traffic growth in the domestic market has been about 5 percent from January to November. During the year, we did see about growth going into double digits for three months, August, September and October. Overall, the season has been pretty good.

Q: You are saying that the move up to double digits only improved in the months of November-December because these are peak holiday seasons for airlines, domestic airlines but prices or air fares have also gone up substantially. For instance, the Delhi-Goa-Delhi flight ticket is now about Rs 40,000 if you want to travel in December and the same ticket was available for about Rs 20,000 in September. So, despite this rise in air fares we are seeing people travel domestically?

A: Last-minute travel during this part of the year has always been expensive and it has been a direct function of the load factor. So, what people have over the time learnt is to do advance bookings and plan a little ahead of time and that helps.

In some of the domestic destinations, Goa has always been a hot destination and a very expensive destination. There has also been a trend of picking up alternative destinations; just not looking at Goa alone. People have looked at Kerala, Rajasthan, Jaipur, Udaipur and Jaisalmer, etc.

Q: But if you are saying that we have seen an increase in passenger load factors in let's say August and September all the way up to double digit growth then October, November and December would have even exceeded that and that would have meant airlines would make the most of this and charge even higher prices. So, I am just trying to gauge, we have been talking about consumer spending slowing down but you are saying that people are continuing to opt for domestic holiday destinations?

A: August, September and October the flown traffic was double-digit. The growth rate was double digit for August, September and October. November it slowed down. It was about 2.6 percent and December the data is not yet out because it is based on the flown numbers and flown traffic would come in, in the month of January.

However, we have looked at the booking trends and we have seen certain segment of consumers definitely, especially domestic travel we have not seen any declining trend in terms of bookings in the month of December.

As far as overseas destinations are concerned, there has been a bit of a hit at least at our end. So, you are right in terms of fares being high but I guess a part of it has been planned in advance and booked in advance and therefore they have got some advantage of not being hit by the last-minute fare. All the trends or the data that I am sharing is basically travel basis and not necessarily on booking basis.



20.07 | 0 komentar | Read More

Muthoot Finance`s 500 cr NCD issue opens for subscription

Gold financing company  Muthoot Finance has come out with its public issue of secured and unsecured redeemable non convertible debentures of face value of Rs 1,000 each for an amount upto Rs 250 crore with an option to retain over-subscription upto Rs 250 crore aggregating to Rs 500 crore.

The issue, which has opened for subscription, will close on January 27, 2014. Minimum bids can be made for 10 NCDs and in multiples of 1 NCD thereafter.

The issue has been rated "AA-/Negative" by CRISIL and ICRA. The NCDs offered through this prospectus are proposed to be listed on BSE.

Also Read: National Housing Bank tax free bond issue opens on Dec 30

The funds raised through this Issue will be utilised for various financing activities including lending and investments, to repay existing liabilities or loans and towards business operations including for capital expenditure and working capital requirements and general corporate purposes.

ICICI Securities Limited is the lead manager to the issue and Link Intime India Private Limited is the registrar to the issue.



20.07 | 0 komentar | Read More

ECL Finance files DRHP to raise Rs 500 crore via NCD issue

Mumbai based diversified financial services group company ECL Finance has filed DRHP for its public issue of secured redeemable non-convertible debentures of the face value of Rs 1,000 each, aggregating upto Rs 250 crore with an option to retain over-subscription upto Rs 250 crore aggregating to a total of upto Rs 500 crore.

The NCDs offered through this draft prospectus are proposed to be listed on BSE Limited.

The company is one of India's leading diversified financial services Group, which offers a large range of products and services spanning across asset classes and consumer segments. However, NSDL and CDSL are the depositories to this issue.

Also Read: National Housing Bank tax free bond issue opens on Dec 30

ICICI Securities Limited, Axis Capital Limited and Edelweiss Financial Services Limited are the lead managres and Link Intime India Private Limited will be the registrar to the issue.

One can apply for minimum application of 10 NCDs in multiples of one NCD after the minimum application.

The issue have been rated "CARE AA" by CARE and "BWR AA/Stable" by Brickwork.



20.07 | 0 komentar | Read More

Prefer Thermax, says Amit Dalal

Dec 27, 2013, 06.13 PM IST

Amit Dalal, ED at Tata Investment Corporation advises to prefer Thermax.

Tags  Amit Dalal, Tata Investment Corporation , Thermax, Crompton Greave

Like this story, share it with millions of investors on M3

Prefer Thermax, says Amit Dalal

Amit Dalal, ED at Tata Investment Corporation advises to prefer Thermax.

Like this story, share it with millions of investors on M3

Prefer Thermax, says Amit Dalal

Amit Dalal, ED at Tata Investment Corporation advises to prefer Thermax.

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Amit Dalal, ED at Tata Investment Corporation told CNBC-TV18, "A large part of Crompton Greaves ' problems have come not from India, but its global capacities or the European companies which it has acquired, so that problem and its ability to resolve that problem is something that only every quarter we have to assess when Crompton Greaves results come out."

"Where our own country is concerned and the demand for capital goods is concerned I am happy to invest in any company which does not depend on increase in power sector capacity, that is development power capacity for its goods, because I do not think you are going to get another 5000 MW plants coming up for a long time. So other than capital goods or industrial goods  Thermax are companies one should look at," he added.


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Birla Sun Life MF announces dividend under two schemes

Written By Unknown on Kamis, 26 Desember 2013 | 20.07

Dec 26, 2013, 05.56 PM IST

Birla Sun Life Mutual Fund has announced dividend under Birla Sun Life Monthly Income and Birla Sun Life Dynamic Bond Fund, the record date for dividend is December 31, 2013.

Tags  Birla Sun Life Mutual Fund , dividend , Birla Sun Life Monthly Income , Birla Sun Life Dynamic Bond Fund, Birla Sun Life Dynamic Bond Fund

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Birla Sun Life MF announces dividend under two schemes

Birla Sun Life Mutual Fund has announced dividend under Birla Sun Life Monthly Income and Birla Sun Life Dynamic Bond Fund, the record date for dividend is December 31, 2013.

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Birla Sun Life MF announces dividend under two schemes

Birla Sun Life Mutual Fund has announced dividend under Birla Sun Life Monthly Income and Birla Sun Life Dynamic Bond Fund, the record date for dividend is December 31, 2013.

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No room for SUUTI stake sale post FDI cap hike in Axis Bank

After nearly five months, the government has given nod to  Axis Bank to increase its foreign investment limit to 62 percent from the composite cap of 49 percent. The government expects Rs 7,250 crore by way of foreign investment as a result of this relaxation. The government has further re-iterated that FII investments are capped at 49 percent.

The foreign investment inflow of Rs 7,250 crore into the country is not a simple math as indicated by Government in the press release. The government has assumed the entire 13 percent at current market price to calculate the possible inflows.

Currently, the headroom available to Axis Bank is just 4.54 percent, i.e. the GDR holding held with custodians as per the September-end shareholding. That would mean FIIs headroom that opens up is only to the tune of Rs 4.54 percent...and that would bring only Rs 2800 crore at current market price.

So how will the remaining money come in? There are a few options on the table.

First, the FIIs currently invested in domestic shares convert them into GDRs. The company has a GDR cap of 11 percent and hence only up to 6.5 percent of the domestic shares held by FIIs can be converted into GDRs. That would add an additional headroom of up to 6.5 percent or nearly Rs 4000 crore. But for the FIIs to convert, the GDR needs to trade at a significant premium. The GDRs are currently tracking the domestic share prices.

Second, if foreign investors like private equity players, sovereign wealth funds acquire stake in the bank via preferential issue. And thirdly, if Axis Bank happens to raise funds via a follow-on GDR issue on the LSE. The last two option means Axis Bank would be hitting the street to raise further fund. The bank as of today has no plans.

These options clearly leave very little room for the government to divest stake held by SUUTI in Axis Bank to FIIs. Government holds 20.72 percent stake in Axis Bank via SUUTI. And if the government goes ahead with the stake sale, the participation of LIC will be limited since the life insurer already has 9.33 percent stake in the bank and FIIs have very little headroom to absorb the marquee paper.



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One Contest; three winners; six sources of guiding light

The Microsoft Completely Boss Challenge was launched on 24th April 2013 as India's most ambitious contest for mid-sized business leaders. Not only did it give the mid market sector a chance to highlight some outstanding businesses within it, but to go beyond their existing capabilities and win a five year growth plan put in place by six great leaders. To put it simply-  One contest. Three winners. Six sources of guiding light. Namely, Microsoft, CRISIL, DOOR, Moneycontrol.com, Webchutney.com and Linkedin. While Microsoft will help the winning companies face their technology challenges, CRISIL will help in knowledge, DOOR in business consulting, Moneycontrol.com with media, Webchutney.com in marketing and Linkedin with securing right talent.

The contest was held over 7 cities with the sole purpose of celebrating and rewarding outstanding business leaders from India's thriving mid-market sector. It  started with registered participants being evaluated on a quiz on knowledge and application-based questions, which was assigned weightage by QuizWorks. Phase 2, which was City Prelims, invited 50 selected participants/city for live events across Delhi NCR, Bangalore, Ahmedabad, Pune, Hyderabad, Chennai and Mumbai.

After an intensive and competitive contest, 3 regional winners from each of the 7 cities were chosen as finalists to participate in the Grand Finale that took place on 26th June in front of the esteemed jury at The Lalit, New Delhi. The Grand Finale in itself was a highly zealous event as each of the 21 finalists conveyed prodigious elevator pitches that made it difficult to choose the three winners!

For the CEO's of Neptunus Power Plant Services, Rohini Minerals and Sort India Enviro Solution/Pastiwala.com, making their way through over 2500 CEO entries, 350 participants, three rounds of competition and 21 regional winners could not have been easy.  But they were the three companies that eventually stood out and won the grand prize- a chance to transform their business under the guidance of six of the best mentors across verticals. These mentors will study these companies seriously and come up with comprehensive five year growth plan.  A journey similar to their own of setting up their companies from scratch with hardly any backing and coming out on top of their game.

Mumbai based Neptunus Power Plant services was set up by Mr.Uday Purohit at the age of 38 after he gave up a secure job as an overseas marine engineer. Using his experience , he turned the company around to become a successful solutions provider and electromotive diesel engine manufacturer for engine based industrial and marine power plants.

In Pashtiwala.com's case, it was actually the age old business of the 'Kabaadivala', or door to door junk and scrap collector that they gave an extremely large scale twist to. Every day they send out close to 30 jeeps all across Baroda to collect anything that's recyclable from residents, pay them on the spot and reuse the material in a commercially successful way with the help of a strong back end and marketing team.

For the two partners who founded Hyderabad based Rohini Minerals, turning a childhood friendship and their love for chicken into a successful hatcheries business meant a lot more than just having 'Reddy' as a common surname. Both quit their jobs as employees of another poultry company to set up their own. Bankers gave them a hard time with loans at the start, but today finances are not a struggle thanks to their innovative ways of producing better poultry!

Having come this far the future can only be bright for these three Completely Boss Challenge winners. Not only will they have the hands on involvement of the best mentors in the business, but a chance to grow their customer base, turn any shelved plans into reality, start new departments that they've been wanting too and maybe even jump to the next level or in fact skip a few levels and go straight to the top of their sector in the next five years. If that does happen, then this was the turning point!



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BNP Paribas MF announces dividend under various schemes

BNP Paribas Mutual Fund has announced dividend under the following schemes. The record date for declaration of dividend is December 27, 2013.

The amount of dividend (Rs per unit) will be:

BNP Paribas Dividend Yield Fund - Regular: Rs 0.08

BNP Paribas Dividend Yield Fund - Direct Plan: Rs 0.08

BNP Paribas Short Term Income Fund:

Regular quarterly dividend: Rs 0.2321

Quarterly dividend: Rs 0.2360

Direct Plan-quarterly dividend: Rs 0.2523

BNP Paribas Bond Fund:

Regular quarterly dividend: Rs 0.1833

Quarterly dividend: Rs 0.1906

Direct Plan - quarterly dividend: Rs 0.1999

BNP Paribas Monthly Income Plan:

Quarterly dividend: Rs 0.2021

Direct Plan - quarterly dividend: Rs 0.2131

BNP Paribas Flexi Debt Fund:

Quarterly dividend: Rs 0.0356

Direct plan - Quarterly dividend: Rs 0.0617



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Kotak Mahindra picks up 3.7% stake in Tecpro Systems

Written By Unknown on Rabu, 25 Desember 2013 | 20.07

Dec 25, 2013, 10.46 AM IST

Kotak purchased 18,60,000 shares at Rs 13.95 apiece and the deal was worth Rs 2.6 crore.

Tags  Kotak Mahindra International, Tecpro Systems, Kitara PIIN 1101

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Kotak Mahindra picks up 3.7% stake in Tecpro Systems

Kotak purchased 18,60,000 shares at Rs 13.95 apiece and the deal was worth Rs 2.6 crore.

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Kotak Mahindra picks up 3.7% stake in Tecpro Systems

Kotak purchased 18,60,000 shares at Rs 13.95 apiece and the deal was worth Rs 2.6 crore.

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Kotak Mahindra International picked up 3.7 percent stake in  Tecpro Systems via a block deal on the Bombay Stock Exchange.

Kotak purchased 18,60,000 shares at Rs 13.95 apiece and the deal was worth Rs 2.6 crore.

However, Kitara PIIN 1101 was the seller in this block deal, which offloaded its entire shareholding. Out of total

holding, Kitara had bought more than 8 lakh shares in April 2012.

Tecpro Systems' stock closed at Rs 14.05, up 0.36 percent on the BSE.


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LT Equity Fund buys 1% stake in TD Power System

Dec 25, 2013, 10.37 AM IST

Yamada Fumio offloaded 1,69,305 shares at Rs 190.37 apiece and Yukinobu Teshima sold 2,70,843 shares at Rs 190.

Tags  L&T Equity Fund, TD Power System, Yamada Fumio, Yukinobu Teshima

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L&T Equity Fund buys 1% stake in TD Power System

Yamada Fumio offloaded 1,69,305 shares at Rs 190.37 apiece and Yukinobu Teshima sold 2,70,843 shares at Rs 190.

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L&T Equity Fund buys 1% stake in TD Power System

Yamada Fumio offloaded 1,69,305 shares at Rs 190.37 apiece and Yukinobu Teshima sold 2,70,843 shares at Rs 190.

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L&T Equity Fund bought 1.1 percent equity stake in  TD Power System via block deal on Tuesday, which was worth Rs 7 crore.

The fund house purchased 3,73,387 shares at Rs 190.10 apiece.

However, Yamada Fumio offloaded 1,69,305 shares at Rs 190.37 apiece and Yukinobu Teshima sold 2,70,843 shares at Rs 190.

The stock closed at Rs 234.90, down 0.80 percent amid large volumes on the BSE on Tuesday.


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Essar India buys 0.3% stake in Shree Nath Commercial

Dec 25, 2013, 10.42 AM IST

Among other block deals, Surface Finance bought 1 lakh shares at Rs 7.66 apiece while Paresh Dhirajlal Shah offloaded 97,329 shares at Rs 7.37.

Tags  Essar India, Shree Nath Commercial & Finance, Shree Nath Comm, Surface Finance

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Essar India buys 0.3% stake in Shree Nath Commercial

Among other block deals, Surface Finance bought 1 lakh shares at Rs 7.66 apiece while Paresh Dhirajlal Shah offloaded 97,329 shares at Rs 7.37.

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Essar India buys 0.3% stake in Shree Nath Commercial

Among other block deals, Surface Finance bought 1 lakh shares at Rs 7.66 apiece while Paresh Dhirajlal Shah offloaded 97,329 shares at Rs 7.37.

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Essar India picked up 0.27 percent stake in  Shree Nath Commercial & Finance through a block deal on Tuesday.

It purchased 3,48,137 equity shares at Rs 7.37 apiece.

Among other block deals, Surface Finance bought 1 lakh shares at Rs 7.66 apiece while Paresh Dhirajlal Shah offloaded 97,329 shares at Rs 7.37.

Chimanlal Maneklal Securities have net sold 27,427 shares at Rs 7.38 apiece

Shree Nath Commercial closed at Rs 7.65, up 1.73 percent amid large volumes on the BSE.


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Kotak Mahindra buys 1.7% stake in Innoventive Industries

Kotak Mahindra International purchased 1.68 percent stake in  Innoventive Industries through block deal on Tuesday.

Kotak bought 9,99,670 equity shares at Rs 14.35 apiece on the National Stock Exchange.

However, Kitara PIIN 1101 was the seller in a block deal, which was worth Rs 1.4 crore. The firm reduced its stake in the company to 3.14 percent from 4.82 percent.

Innoventive Industries' stock closed at Rs 14.35, down 0.35 percent amid hefty volumes on Tuesday.


 



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Analysis: Will Arvind Kejriwal as Delhi CM dent Congress?

Written By Unknown on Selasa, 24 Desember 2013 | 20.07

R Jagannathan
Firstpost.com

As Arvind Kejriwal is sworn in as Delhi Chief Minister after much swearing at the Congress and BJP, the important thing to acknowledge is that this is the result of three antagonistic parties playing a cat-and-mouse political game contrary to their natural inclinations.

While Congress and BJP have declined to make a lunge for power, which is their natural inclination, the Aam Aadmi Party (AAP) has been coaxed into giving up its opposition role – something it was born to play.

All three parties have assessed their costs and benefits in making their moves and are hoping that in the next couple of months, the dice will roll their way - at the Lok Sabha elections due in April-May and the Delhi assembly election rerun – perhaps around the same time.

All three have, in the process, courted considerable risks too.

The BJP's political calculation in not staking a claim to form a government despite being the single largest party in Delhi is prompted by the need to be seen as not power hungry before the Lok Sabha polls. Any covert or overt moves to buy MLAs - not easy in the given scenario anyway - would have been held against it. The party, though it won't say so, may be willing to sacrifice a win in Delhi in order to win bigger in the Lok Sabha polls.

It is difficult to assess whether this was the right choice to make, for, after all, Kejriwal is also making the same choice of heading a minority government and seeking to rule only for a few months.

The BJP could also have hoped to rule for a few months, and legislated some populist things like a Jan Lokpal, announced a power tariff audit before the polls, and regularised illegal colonies. It could have stolen Kejriwal's slogans and called an early election after the Lok Sabha polls.

Another factor the BJP probably took into account was the possibility of having to face a belligerent Kejriwal disclosing one corruption scandal after another under its watch. Even if it did not pertain to the BJP, the mud would stick, since the BJP rules the Municipal Corporation of Delhi. Perhaps the party is gambling on the fact that in government, Kejriwal will be under greater scrutiny for missteps - if any. It may also be gambling that a Kejriwal who has to run government will not be able to spread the AAP's tentacles to other metro cities quickly enough before the next Lok Sabha polls.

The risk the BJP is courting is this: what if Kejriwal manages to consolidate on his aam aadmi positioning and the BJP loses not only Delhi, but also a few Lok Sabha seats? After all, how much effort does it take for Kejriwal to announce all kinds of anti-corruption probes even while being CM?

Kejriwal, after all, has to rule only for two months – and few people can presume that he will lose all his goodwill in two months. No party that has just won a big mandate ever loses public support so early. In fact, public support will tend to move in the direction of a likely winner.

To be sure, Kejriwal has probably been cornered by a tactical Congress move to give him support and the BJP's unwillingness to risk a minority government before the Lok Sabha. After playing holier-than-thou to Congress, Kejriwal risked being seen as someone unwilling to shoulder responsibility when offered a chance.

However, if Kejriwal has bitten the bullet, it is not without his own assessment of a cost-benefit analysis. He has two months to make his moves - on Jan Lokpal, free water supplies, and power tariff audits. In a crunch all this is possible to demonstrate before the Lok Sabha election code kicks in around end-February. Even if he cannot achieve all his goals, he can claim he needs a majority to make his moves – and most Delhi voters may give him the benefit of doubt. Kejriwal may also be hoping for some Congress errors – excessive belligerence, daily hurdles in the functioning of the government - to call an early election. Early CVoter opinion polls show that Kejriwal may well win an absolute majority in the next assembly polls.

One cannot also rule out the possibility of even cannier calculations on the part of Kejriwal. The jan sabhas held to decide whether AAP should form a government – which turned out to be free publicity melas for Kejriwal – were extensively covered by the media, while both Congress and BJP are left out in the cold. In the next few months, Kejriwal will get saturation coverage by the media – both because of his novelty value, and also because in some segments of the anti-Modi media establishment AAP appears to be the only force that can dent Modi.

The risk Kejriwal faces is the kind of mistakes he himself may commit while in office – but this is a low risk. Among the three parties, AAP has the lowest risk in forming a government simply because it will be forgiven all its faults as it is the new kid on the block.

Lastly, one needs to assess what the Congress' calculations are in supporting Kejriwal. Clearly, this could be one of the things Rahul Gandhi said we will not "even be able to imagine" about what the Congress will do after its 4:0 drubbing at the Assembly polls.

A more down-to-earth reading would be this: since it was AAP that thrashed the Congress rather than the BJP, linking up with Kejriwal will demonstrate to Delhi voters and Muslims in particular that Congress does not compromise with "communal forces." Moreover, by aligning with AAP, the Congress can hope to claw back some of the votes it lost to the upstart. Let's remember, Congress still has around 25 percent of the Delhi vote share – and if AAP is going to do better in the next elections, the votes have to move away from the BJP rather than the Congress for the latter to stem the Modi tide.

The Congress knows that 2014 is not its year. Its best hope is to give the BJP such a slim win – maybe something like the UPA-1 mandate for the Congress – so that it is unable to function. In the process, the BJP will be stuck in a difficult economic situation. This will set the stage for a Congress bounce-back after 2016-17.

However, the risks for the Congress are greater than for the BJP right now with this gambit. Reason, AAP is almost the same kind of left-wing populist party that the Congress always wanted to be. It would not be unfair to say that Congress minus corruption equals AAP. The differentiation with the BJP is starker. BJP too cannot claim to be corruption-free, but it is widely seen as less so, and it is also a right-wing party, and more pro-business. Plus it has a leader who seems to be vibing well on governance right now.

Anti-corruption platforms are difficult to sustain, while governance is a larger platform to own for a political party. The Jayaprakash Narayan and VP Singh anti-corruption movements helped the Janata Party and VP Singh do well in just one election. After that, both lost out – the former to Indira Gandhi's Congress, and the latter to Mandal-Masjid politics and the BJP.

Anti-corruption alone is not a good enough plank for the long-term, for it is governance that matters.

This does not mean AAP will not dent the BJP in 2014. But it does mean that over the long term, its economic plank will become more important than its pure anti-corruption rhetoric.

As a left-of-centre party, AAP poses a bigger longer-term threat to the Congress than to the BJP, though in the short-term it can be major threat to the BJP as it can eat into the Modi magic and deny BJP a good seat count.

If I were Kejriwal, I would target the Congress more than BJP, for AAP's real voter base is in the Congress. If I were BJP, I would target AAP as much as Congress, as AAP has the potential to deny BJP a clean win in 2014; and if I were Congress, I would do my best to scuttle AAP. The rise of AAP is more threatening to the Congress.

The writer is editor-in-chief, digital and publishing, Network18 Group



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Flexituff International: Outcome of board meeting

Dec 24, 2013, 05.43 PM IST

Flexituff International has informed that the Board of Directors of the Company at its meeting held on December 24, 2013, have considered and approved the adoption of agreed drafts of agreements / documents related to fund raising and formation of Issue Management Committee for the said purposes.

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Flexituff International: Outcome of board meeting

Flexituff International has informed that the Board of Directors of the Company at its meeting held on December 24, 2013, have considered and approved the adoption of agreed drafts of agreements / documents related to fund raising and formation of Issue Management Committee for the said purposes.

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Flexituff International: Outcome of board meeting

Flexituff International has informed that the Board of Directors of the Company at its meeting held on December 24, 2013, have considered and approved the adoption of agreed drafts of agreements / documents related to fund raising and formation of Issue Management Committee for the said purposes.

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Flexituff International Ltd has informed BSE that the Board of Directors of the Company at its meeting held on December 24, 2013, have considered and approved the adoption of agreed drafts of agreements / documents related to fund raising and formation of Issue Management Committee for the said purposes.Source : BSE

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Liquidity Adjustment Facility : Auction Result

Dec 24, 2013, 05.50 PM IST

Liquidity Adjustment Facility : Auction Result

Tags  RBI, RBI Press Release, Liquidity Adjustment Facility : Auction Result

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Liquidity Adjustment Facility : Auction Result

Liquidity Adjustment Facility : Auction Result

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Liquidity Adjustment Facility : Auction Result

Liquidity Adjustment Facility : Auction Result

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The result of the RBI Reverse Repo (Evening) auction held today is as under:

Amount (face value in ` Billion)                                      

Item


2 days Reverse Repo Auction
(Sale of securities by RBI)


6.75 % Fixed Rate


1. Bids received


 

(i)


Number

2


(ii)


Amount

0.22


2. Bids accepted


 


(i)


Number

2


(ii)


Amount

0.22


Ajit Prasad
Assistant General Manager

Press Release : 2013-2014/1270



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Gee El Woollens: Outcome of board meeting

Dec 24, 2013, 05.58 PM IST

Gee El Woollens has submitted a copy of the proceedings of the minutes of the Board Meeting held on December 23, 2013 for declaration of results of Postal Ballot process.

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Gee El Woollens: Outcome of board meeting

Gee El Woollens has submitted a copy of the proceedings of the minutes of the Board Meeting held on December 23, 2013 for declaration of results of Postal Ballot process.

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Gee El Woollens: Outcome of board meeting

Gee El Woollens has submitted a copy of the proceedings of the minutes of the Board Meeting held on December 23, 2013 for declaration of results of Postal Ballot process.

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Gee El Woollens Ltd has submitted to BSE a copy of the proceedings of the minutes of the Board Meeting held on December 23, 2013 for declaration of results of Postal Ballot process.Source : BSE

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Gas prices may jump to $10 in 2016-17, from $4.2 now

Written By Unknown on Senin, 23 Desember 2013 | 20.07

Natural gas prices in India may jump to USD 10 within three years of implementation of the Rangarajan formula, generating enough additional revenue to meet higher subsidy outgo on the fertiliser sector.

The government has decided to price all domestically produced gas by both public and private sector firms at an average price of LNG imports into India and benchmark global gas rates from April 1, 2014.

Barclays Equity Research estimates the price will be USD 8.3 per million British thermal unit in 2014-15 as against the current rate of USD 4.2. This will rise to USD 9.1 in the following year and then to USD 9.4 in 2016-17.

"We estimate the gas price could be more than USD 10 per mmBtu by FY16 as per the formula," Goldman Sachs said.  The new rates, which will change every quarter based on 12-month average of global rates and LNG import price with a lag of one quarter, will apply to all gas produced by both public sector firms like  ONGC and private companies like  Reliance Industries Ltd.

"Prices will be revised quarterly and, in our view, will change by USD 0.1-0.5 per mmBtu for every USD 10 change in oil prices given the linkage to LNG pricing," Barclays said in a research note.

It estimated gas producers to garner USD 4 billion in revenue from higher gas prices from 2014-15 while government will rake in an additional USD 505 million from royalty, profit share, taxes and dividend .

After paying USD 360 million in additional fertiliser subsidy resulting for higher input gas cost, the government will be left with USD 101 million, it said.

ICICI Securities said the decision will "reignite investments in Indian exploration and production, especially development of offshore gas discoveries on the east coast and gradual alignment of industry demand (across sectors) to a higher gas price environment".

More than 30 Trillion cubic feet of reserves in the Krishna Godavari basin can be developed at the new rates.

"Economics for marginal gas fields, primarily owned by ONGC (and some by RIL), could also improve," it said.

Oil and Natural Gas Corp's (ONGC) 2-3 Tcf reserves, 4.98 Tcf of RIL and 4 Tcf of Gujarat State Petroleum Corp (GSPC) could be viable at higher gas prices, it said.

The decision, Edelweiss Securities, is "a significant positive for the sector considering that a lot of deep water resources become viable".

Of the total domestic gas volume of about 86 million standard cubic meters per day, three key economically sensitive sectors - power, fertiliser and LPG - consume about 67 mmscmd. "We see additional burden for them of Rs 19,700 crore or 0.16 per cent of GDP," Morgan Stanley said.



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Need to rethink environment clearance issue: Feedback Infra

RS Ramasubramaniam, Co-Chairman, Feedback Infra, does not see any immediate improvement in terms of power projects or highway projects getting clearance except for the fact that elections are round the corner. However, he is clear that longer term, there is a need to rethink the whole idea of environment clearances and improve the entire system.

Also Read: Equities may be best asset class over 3 yrs: DSP BlackRock

He does not see any bullishness in the sector till May. But post elections, even foreign investors might be willing to invest in the infrastructure space provided some of the issues plaguing the sector – land acquisition, environmental clearances – get addressed.

Below is the verbatim transcript of RS Ramasubramaniam's interview on CNBC-TV18

Q: What is your first reaction to the fact that we are going to have a new environment minister, does this mean good news for some of the power projects, infrastructure projects which are stuck because of environmental clearances?

A: I don't think it translates into any immediate good news, in fact I would like to point out saying the same thing was said about Jairam Ramesh during his tenure as environment minister saying that he was being obstructionist in delaying clearances. I think also the timing of this just before elections, just before key meetings is also suspect.

But having said that, there is no denying that projects are being held up in the last couple of years, we have had figures of Rs 14 lakh crore down to Rs 10 lakh crore etc as being held up. So there is no denying that projects are held up, in fact GMR Infrastructure and GVK walked out of their two highway projects sighting the lack of environmental clearance. But the larger issue is, is it just about replacing a minister who is holding up decisions or is it actually about effecting some changes that the level of systems that we have for effecting these clearances.

So I don't think we should see some immediate improvements in terms of power projects being cleared or highway projects being cleared except for the fact that we have elections around the corner. So purely from that point of view some projects might get cleared. But longer term systemic improvement requires us to rethink the whole idea of clearances including saying what the environment ministry clearance board is up to and what is the project management group which actually is supposed to expedite these clearances up to, so what systemic changes can we foresee. So I don't think we should see some immediate improvement in hand.

Q: Taking the point that there are a lot of other things that we can do to expedite all infrastructure projects not just a change of guard but speaking about the limited role that can have, how do you view the appointment of Veerappa Moily to this position and what his stance will be on the way forward?

A: What I have been reading Veerappa Moily is taking an interim charge so I just think that there will be some expediting of projects, there is a whole list of some 92 odd projects which are actually now vesting with the project management group which is monitoring this. So Veerappa Moily stepping in, the sheer fact of some new energy being brought into the system, elections round the corner, I think there will be some clearances that are announced. But as I said earlier we will have to look at how to improve the entire system of clearances and the monitoring and the coordination issues thereof. So some short-term improvement should be expected.

Q: Just to take that point forward because in the oil ministry quite clearly Veerappa Moily is seen as someone who is been industry friendly and even maybe reforms friendly. So, in that case do you expect some more investments and secondly apart from environment there is still a lot of issues in terms of macros which are quite clearly hurting progress. A lot of companies are not investing in India but they are ready to invest globally; same companies which are based out of India. Do you expect that to change once we have elections and new government in place?

A: I certainly sense some green shoots in the infrastructure sector and there is a certain heightened sense of expectation from which new government comes into place. So, I am a little bullish saying post elections. I don't see any improvement till May but certainly post May, post the elections I can see some bullishness, I can see even
foreign investors coming into the infra sector provided we address some of the other concerns like land acquisition for instance, environmental clearances and the larger issue of regulatory institutional structures being addressed. So, I am a little bullish on the post election scenario.

Q: You said there are 92 projects which are up for reevaluation, could you give us some figures or numbers about how many projects are being stalled, how many on account of the environment clearances and how many in the roads, highways etc?

A: I have figures which are somewhat conflicting from about over the last six months. Six months back the figures stood at Rs 14 lakh crore projects that were stuck coming down to about Rs 10 lakh crore projects. And 92 projects was the list that was mentioned. The large bulk of which was accounted between power, highways and railways, but beyond this I don't have details of how the breakup of 92. But I think the figure of Rs 10 lakh crore that was recently quoted is about the figures that I too have from reports that have consistently come over the last six months. So by any standard it is a substantial chunk of investment that has actually been delayed because of lack of decision making.

And I think the panels that were set up to look at the environmental issues concerned have actually cleared this and my understanding is that most of these issues are now with the ministry for simple decision making in a transparent manner. So it is an uncontestable fact that there have been delays and the investment that has affected particularly in power, highways and railways I am singling these three out, are orders of magnitude, huge by any standards.

Q: Just one more word then on this gas price hike. Would you be in a camp which would believe that at least this would mean availability of gas because a lot of power projects have been announced I remember discussing it with you in the past but they don't have any input to work on; the availability of gas is an issue do you think at least some of these power projects can now look forward to higher availability of gas not in the immediate future but maybe in one or two years from hereon?

A: I certainly think so. The number of projects that are stuck because of the gas linkage should benefit by these recent developments. So, I am once again very positive that at least finally there seems to be some movement and in a timeframe of maybe two to three years some of these projects can hope to benefit. I just want to once again highlight saying that this is a sector on which almost every other sector and the economy rides. Therefore it is important that we move forward and once again I am bullish that some movement forward has happened.



20.07 | 0 komentar | Read More

FCNR inflows behind recent rate cut: SBI

Dec 23, 2013, 06.19 PM IST

State-run lender State Bank of India recently cut home loan rates. In a discussion with CNBC-TV18's Gopika Gopakumar, SBI Chairman Arundhati Bhattacharya said the rate cuts came on the back of excess liquidity in the banking system.

Tags  SBI, rate cut, FCNR, Shyamal Acharya

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FCNR inflows behind recent rate cut: SBI

State-run lender State Bank of India recently cut home loan rates. In a discussion with CNBC-TV18's Gopika Gopakumar, SBI Chairman Arundhati Bhattacharya said the rate cuts came on the back of excess liquidity in the banking system.

Like this story, share it with millions of investors on M3

FCNR inflows behind recent rate cut: SBI

State-run lender State Bank of India recently cut home loan rates. In a discussion with CNBC-TV18's Gopika Gopakumar, SBI Chairman Arundhati Bhattacharya said the rate cuts came on the back of excess liquidity in the banking system.

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The liquidity was brought on account of the huge FCNR inflows we have seen in the country.

Arundhati Bhattacharya

Chairperson

SBI

State-run lender  State Bank of India recently cut home loan rates. In a discussion with CNBC-TV18's Gopika Gopakumar, SBI Chairman Arundhati Bhattacharya said the rate cuts came on the back of excess liquidity in the banking system.

"The liquidity was brought on account of the huge FCNR inflows we have seen in the country," she said.

Also read: Will interest rates go down from here?

She added that if credit offtake did not remain adequate even with high liquidity, she would "have to see what area it could be deployed in".

Bhattacharya also spoke about the Shyamal Acharya case and said the bank had restricted gifts to about Rs 500-750. "We will try at this point of time to have a no-gift taking and no-gift giving policy," she said.


SBI stock price

On December 23, 2013, State Bank of India closed at Rs 1757.55, up Rs 5.70, or 0.33 percent. The 52-week high of the share was Rs 2550.00 and the 52-week low was Rs 1452.90.


The company's trailing 12-month (TTM) EPS was at Rs 179.98 per share as per the quarter ended September 2013. The stock's price-to-earnings (P/E) ratio was 9.77. The latest book value of the company is Rs 1445.60 per share. At current value, the price-to-book value of the company is 1.22.

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20.07 | 0 komentar | Read More

'We need long-term policies in the renewable energy sector'

Shirish Garud, Senior Fellow, Energy Environment Technology Applications, TERI, speaks about the work his organisation is doing in the renewable energy space and what currently ails India's power sector

Q: TERI  has been working in the renewable energy and solar thermal power plants sector for a while now. Tell us a bit about how your projects in this space will benefit people and is the common man actually aware of the benefits of alternative energy?

A: TERI is working in renewable energy sector for couple of decades now. Further, it has established village level solar minigrids and biomass gasifier and solar PV technology based power plants in villages. These projects not only provide basic lighting but also power internet enabled computers and printers used for knowledge gain, provide power for  running small business or income generation activities such as bamboo splitting, turmeric grinding and so on. These projects provide the beneficiaries with the opportunities for economic activities and avenues for income generation. Our experience is that the common man is getting aware of the benefits of these activities and renewable energy power plants.

Q: With pressure on coal and natural gas increasing, will renewable's be able to meet India's energy needs?

A: Our demand for energy, both for power generation and for other applications such as industrial processes, heating and cooling, agriculture etc., is very high compared to the potential of renewable energy resources except solar energy, which has huge potential provided we can have access to the land for solar installations. However, in practice, the renewable energy applications will be limited and currently I don't foresee renewables will be able to meet India's all energy needs. However, in future we have potential to achieve about 15-30 % of India's energy needs in power sector through renewables.  
  
Q:What according to you is the single biggest factor ailing India's power sector today?

A: I think inefficient distribution network, infrastructure and uneconomical and inefficient operations of the distribution companies are the biggest factors ailing India's power sector.

Q: Most of our power is thermally generated. Why do we still lag when it comes to harnessing renewable energy sources?

A: We need huge investments in renewable sector and more progressive policies for integration with conventional grid network for renewable sector to grow rapidly. The policy environment is reasonably positive, however, long term policies are needed which can help to take it forward. 

Q: What are the challenges the renewable energy sector in India faces?

A: Renewable energy sector is rapidly evolving and major challenges faced by the sector can be summarized as under
-- Lack of stable long term policies for promotion.
-- Difficulties in getting latest technologies and efficient process knowhow
-- Inadequate support for research and development and commercialization of home grown technologies
-- Resistance from conventional power sector players to adopt and integrate the renewables.
-- For higher percentage of RE integration we need to have latest technologies in energy storage and control to improve dispatchability of the renewable power plants. I think this area will be of great interest in coming years.
-- Hurdles in land acquisition and spiraling land costs

Having said this, I must mention that in recent years both the central and state governments have been promoting large scale integration of renewables especially for power generation and National Action Plan for Climate Change (NAPCC) and National Solar Mission, one of the eight missions identified under NAPCC, along with Electricity Act 2003 are major drivers for renewable power sector. Progressive regulatory measures such as Renewable Purchase Obligations (RPO), Renewable Energy certificate (REC) scheme, tax incentives, preferential tariffs are also providing required impetus to the sector.



20.07 | 0 komentar | Read More

NCR continues to reign as largest office market

Written By Unknown on Minggu, 22 Desember 2013 | 20.07

Knight Frank India today, launched its NCR office traction report focusing exclusively on the NCR market.The report talks about how the office market of a city with regard to new supply, vacancy trends, key tractions, industry wise absorption, micro-market split of absorption, rental trend and future outlook.

Key Takeaways:


  • NCR office market exhibits strong traction despite economic uncertainties
  • Office space take-up during the first nine months of 2013 has marginally exceeded those of the same period in 2012.
  • Total absorption for the current year is likely to be in the range of 6.3-6.8 mnsq.ft.
  • Share of other service sectors has almost doubled compared to 2011 with consulting & Media  companies largely contributing to the rise
  • Gurgaon remains at the forefront of both new office space and absorption in the market
  • PBD-Noida's share has reduced by 25% compared to 2012 due to a fall in the number of IT/ITeS transactions
Speaking about the research report Mr. Shishir Baijal, Chairman & Managing Director, Knight Frank India said, "The NCR office market has remained rock solid amidst economic woes. The fact that office space take-up during the first nine months of 2013 has marginally exceeded that of the same period in 2012 clearly indicates strong fundamentals in the NCR office market.Considering the current run rate of transactions and the level of pre-commitments, total absorption for the current year is likely to be in the range of 6.3-6.8 mn.Sq. ft. which is commendable given the weak global and domestic economic scenario".

Dr. Samantak Das, Chief Economist and Director-Research, Knight Frank India maintained," The IT/ITeS sector has been the primary driver of office space take up in the NCR market. While the beginning of the year showed a drastic dip in the sector's share, demand picked up during the next two quarters, though it was well below the peak levels of 2011. Going forward, we expect the sector's share to grow given the green shoots of recovery in the western economies."



20.07 | 0 komentar | Read More

Choosing Financial Planner: Key points to note

Ronak Morjaria
Apnapaisa.com

Today if you ask any one, "From whom do you take investment advice?"
Most people will reply, " I seek investment advice from my agent, friends, relatives, newspapers, magazines or some TV shows." Rarely do you get to hear someone seeking investment advice from 'Financial Planner'. Today you have switched from 'vada pav' to 'Mc. Alu Tikki', 'laptop' to 'tablet / I-pad'. Similarly since the SEBI, Investment Adviser Regulations, 2013, are in place now; you should soon shift from 'Agent' to 'Financial Planner'. But you don't know who is a good Financial Planner? How to choose a good Financial Planner?

To sum it up in one line - A Financial Planner puts client's interest first, before his own interest; since he is getting paid for giving financial advice.

While choosing a Financial Planner you should consider some of the points below:

Licenses, credentials or other certifications:

Anyone who charges fees for giving investment advice needs to be registered with SEBI under Investment Adviser Regulations, 2013. Already few financial planners have got their registration certificate from SEBI. So, if your financial planner is charging fees, he should be registered as Investment Adviser with SEBI. You should also ask if the planner has additional certification like CFP (Certified Financial Planner), or any other similar certification or degree relating to this field.

Services offered:

You should know what kind of services the planner offers. Services can be goal based financial planning, estate planning, mutual fund distribution, insurance agency and PMS, etc. If the planner provides distribution services, then it is easy for you to implement the financial plan. But, on the other hand there can be bias in the recommendation given by the planner since he earns commission on the investment / insurance product you implement through him. So the planner must disclose the commission that he will earn if you implement the plan through him.

Fees:

Financial Planner charges fees for preparing a goal based financial plan for your financial future. Average fees for a financial plan ranges from Rs.15,000 – 25,000. The planner may charge additional fees for estate planning (preparing a will or incorporating Trust). You should also check that the planner does not have differential fee structure if you implement plan with him and if implement by yourself from a third party. The fees paid usually covers planning and review of the financial plan for a period of one year; so you should also ask about it before entering into a contract with the planner.

Basis of recommendation and research:

You should know on what basis the financial planner is recommending particular investment or insurance instrument. You should ask if the planner has a research team or he outsources research. This is important because the planner cannot recommend any investment / insurance without studying or knowing the investment / insurance product. Also, you should ask whether your risk profile would be assessed and considered for recommending investment.

Client-Planner interaction:

During the initial stage of data gathering and analyzing the financial situation, there is a lot of interaction between you and the planner. Apart from that, in the later stage after the plan presentation and implementation; the planner should review your portfolio and your goals periodically. You should ask how often your portfolio and the financial plan would be reviewed. Review is the most important part of the financial planning process.

These are the some of the points, which you should consider and know about the Financial Planner before choosing one for you. Some of you may not be aware that what is there in a Financial Plan and how does it look, so you can ask for a sample financial plan from the planner. Looking at the sample financial plan, you can get an overview and brief idea of what are the components of a financial plan. Since, now all Investment Advisers are under SEBI's eye; and thus they are obligated to comply with the regulations.

Now it's time to change, plan for your finances and find a good Financial Planner for yourself.

Apnapaisa is Online marketplace for loans & investments. Author can be reached at www.facebook.com/apnapaisa .



20.07 | 0 komentar | Read More

UPA did more than any other govt to fight corruption: Rahul

Congress vice-president Rahul Gandhi addressed a Ficci conference in New Delhi on Saturday.

Also Read: Jayanthi Natarajan quits as Union Minister for 'party work'

Below are the highlights:

- Admit that Congress party did not do well in Assembly Elections

- Completely in agreement for need of regulatory system

- Projects do take time to get approval in current system

- CCI approved a large number of projects in the recent past

- Biggest issue we face today is corruption

- Parliament took a landmark step by passing Lokpal Bill

- UPA did more than any other government to fight corruption

- Many revolutionary bills still pending before Parliament

- Indian education system does not do justice to its talents

- Have to take steps to empower business engine and people

- Investments in food security will not drag economy

- Poverty cannot be fought without growth

- Need to take steps to reform power sector

- Have to open up manufacturing sector and foster competition

- UPA made huge investments in micro nutrients and micro irrigations

- Beating inflation is our top priority

- Society cannot be built on injustice

- Investments in social sector schemes is not a drag on economy

- 3rd of Indian population came out of poverty in the last 10 years

- Must target raising manufacturing to 25% of GDP

- There is a cost to not having Land Bill

- Cannot allow environment to be plundered

- Need to be careful on use of natural resources

- Complete arbitrary power is the cause of concern

- Land Acquisition Bill brings transparency, will benefit industry

- We need to build value like Google

- Indian IT sector needs to move up the value chain

- We need to increase access to education



20.07 | 0 komentar | Read More
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