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Govt very close to a solution on GST issue: Sitharaman

Written By Unknown on Jumat, 31 Oktober 2014 | 20.07

Commerce Minister Nirmala Sitharaman said the government is also likely to bring amendments to the Land Acquisition Act in the Winter session of Parliament

Commerce Minister Nirmala Sitharaman said the idea of Jan Dhan Yojana is to reach as many households as possible.

In an interaction with CNBC-TV18, the commerce minister said the government is 'very close to a solution on the GST (Goods and Services Tax) matter'. She said the Constitutional Amendment Bill can be tabled in the next session of Parliament.

The government is also likely to bring amendments to the Land Acquisition Act in the Winter session of Parliament, Sitharaman added.

"Work is going on to see how best it can be made more user-friendly. I am clear that sooner there would be something happening, ideally which means Winter Session because we do not want major projects to suffer waiting for this amendment, waiting for this change," she told CNBC-TV18.

She further said the amendments would look into making the acquisition process easier without touching on the compensation clause.


20.07 | 0 komentar | Read More

Neogem India: Updates on outcome of AGM

Neogem India has submitted a copy of minutes of the 23rd Annual General Meeting (AGM) of the Company held on September 30, 2014.

To read the full report click here


20.07 | 0 komentar | Read More

Here are most scary investment picks this Hallowen

It's Halloween today and CNBC-TV18's Nigel D'Souza lists the most scary investment picks which have resulted in losses for the investors.

It's Halloween today and CNBC-TV18's Nigel D'Souza lists the most scary investment picks which have resulted in losses for the investors.


20.07 | 0 komentar | Read More

Experts paint bullish strategy for market going forward

The November series opened on a strong note with hopes of more reforms from the Modi-led government.

The Nifty today continued its upward march and closed for the first time high above 8300, up 153 points (the highest one day gains since May 9 2014 - before Lok Sabha elections results) or 1.87 percent to 8322.20 led by 48 shares

The November series too opened on a strong note with hopes of more reforms from the Modi-led government.

Devang Mehta, Anand Rathi Financial Services, Dilip Bhat, Prabhudas Lilladher and
Mithil Pradhan, Violet Arc Global Managers in an interview to CNBC-TV18's Anuj Singhal and Sonial Shenoy spoke about the way forward for the market, and the new series.

Pradhan says the only startegy for the market is a bullish one and nothing else.

The 30-share BSE Sensex jumped 519.50 points (the highest one day gains for the first time since May 12, 2014) or 1.90 petcent to 27865.83. The BSE Midcap and Smallcap too participated in the rally, up 1.24 percent and 0.96 percent, respectively.

Check the video for the entire discussion


20.07 | 0 komentar | Read More

Boeing-SIA JV gets CCI green signal

Written By Unknown on Kamis, 30 Oktober 2014 | 20.08

Boeing Singapore, an arm of US major Boeing Company, and SIA Engineering Company's proposed joint venture has got the approval from fair trade regulator CCI, as the deal does not raise anti-competition concerns in the country.

Under the proposed combination, Boeing Singapore would hold 51 percent stake in the Singapore-based joint venture company, while 49 percent would be with SIA Engineering Company Ltd (SIAEC) -- a subsidiary of Singapore Airlines.

The joint venture company would offer maintenance, repair and overhaul (MRO) services together with related engineering, logistics and supply chain and inventory management services in South Asia Pacific region, including India, with respect to certain aircrafts manufactured by the Boeing Company.

Also read: Airbus offers long-range A321neo, targets Boeing 757

In an order released today, CCI said that "the proposed combination is not likely to have an appreciable adverse effect on competition in India". CCI noted that the Boeing Company did not have arrangement with any of the Indian carriers or the MRO service providers in the country and that post combination "Indian carriers using Boeing aircrafts will be free to procure MRO services from any MRO service provider".

Further, the Boeing Company will not be prevented from supplying spare parts or technical support to MRO service providers in India. The Commission said that the assessment with respect to the joint venture was limited to the effect of the proposed deal on two market segments -- heavy maintenance and component maintenance. These segments fall under MRO services.

"It is observed that in both of the said segments of MRO services, the parties have no presence in India since neither the Boeing Company nor SIAEC provides any MRO services in India," CCI said in the order.

Observing that the Boeing Company, through its group companies, has provided adhoc services to Indian carriers outside India, CCI said the revenues from such services were "insignificant".

It also noted that several Indian players were "active in both these segments and have a significantly larger market share vis-a-vis the parties". As per details in the order, post the combination, Boeing and SIAEC would "novate contracts" to the joint venture related to MRO services.

Following an agreement over the joint venture in July, this year, the companies had approached CCI for its green signal in August. Boeing Singapore is currently engaged in the field of fleet management solutions, while SIAEC is into the business of provision of MRO services for aircraft, engines and related components.'


20.08 | 0 komentar | Read More

Thermax bags Rs 321 crore contract in Africa

The scope of work includes system design, manufacture, supply and supervision of erection and commissioning of the power plant.

Energy and environment solutions provider  Thermax today said it has bagged a contract worth Rs 321 crore for setting up a captive power plant in Africa.

"Thermax has received an order worth Rs 321 crore from a leading African conglomerate to supply a captive power project for one of their cement plants," a release issued here said.

The scope of work includes system design, manufacture, supply and supervision of erection and commissioning of the power plant.

"We had initiated the entry of our project business in Africa two years ago. It is encouraging that we have already gained customer trust and begun supporting their power requirements," company's Managing Director and CEO M S Unnikrishnan said.

The power plant, to be commissioned within a timeframe of 15-16 months, will utilise the latest generation AFBC (atmospheric fluidised bed combustion) boilers and high pressure steam cycle to facilitate optimal plant efficiency, the release said.

Thermax stock price

On October 30, 2014, Thermax closed at Rs 881.20, down Rs 15.5, or 1.73 percent. The 52-week high of the share was Rs 989.70 and the 52-week low was Rs 609.35.


The company's trailing 12-month (TTM) EPS was at Rs 20.49 per share as per the quarter ended June 2014. The stock's price-to-earnings (P/E) ratio was 43.01. The latest book value of the company is Rs 169.94 per share. At current value, the price-to-book value of the company is 5.19.


20.08 | 0 komentar | Read More

MM may report Q2 profit Rs 946 cr on revenue of Rs 9292 cr

Moneycontrol Bureau

Utility vehicle maker  Mahindra and Mahindra (M&M), which will announce its second quarter earnings on Friday, is expected to report a profit of Rs 946 crore as against Rs 989.5 crore in the year-ago period, according to the average of estimates of analysts polled by CNBC-TV18.

Revenue is likely to be Rs 9,292 crore during the quarter compared to Rs 8,929.5 crore in same quarter last year. Operating profit expected to be at Rs 1,167 crore as against Rs 1,144 crore and margin may be at 12.5 percent compared to 12.8 percent during the same period.

Results are not comparable on year-on-year basis due to merger of loss making truck business. The company will provide the merged entity comparable numbers in the press release as they do every quarter.

Operational performance weak:

Volume growth was tepid during the quarter. The company sold 1.76 lakh units in second quarter of current financial year 2014-15, up only 0.6 percent compared to 1.75 lakh units in same quarter last year.

Auto sales declined 0.8 percent to 1.15 lakh units from 1.16 lakh units while tractor sales grew 3.2 percent to 61,152 from 59,264 units during the same period.

Sales mix has turned unfavorable on sequential basis. Proportion of high margin tractor business has fallen to 35 percent of overall sales in Q2 as against 40 percent in Q1FY15.

In Q1, the company cut the tractor guidance for FY15 to 5 percent as against 8 percent earlier. Even the company has seen weakness in utility vehicle segment due to intense competition from Renault duster, Ford eco sport etc.

Utility vehicle sales declined 8.5 percent sequentially (flat year-on-year) to 47,822 units.

However, the commendable part is for the last few quarters despite weak volumes, company has maintained profitability in both auto and tractor segment.

Market share consistently falling in UV segment:

UV market share slipped to 42 percent in FY14 from 48 percent in FY13 and 55 percent in 2012. As on Q1FY15, UV market share of the company dropped further to 40.4 percent.

However, tractor segment market share continued to rise. As on Q1FY15, tractor market share was 42.2 percent, the highest in last 10 quarters.

Other income is usually very high in Q2 as company recognises dividend income from its subsidiaries. So analysts expect other income of Rs 450 crore during the quarter compared to Rs 190 crore in previous quarter due to dividend from subsidiaries like Tech Mahindra.


20.08 | 0 komentar | Read More

First BJP CM in Maha to be sworn-in tomorrow

The first BJP government in Maharashtra headed by state party chief Devendra Fadnavis will be sworn in tomorrow with Shiv Sena unlikely to join the new dispensation for now as talks continued between the two saffron parties for a tie-up.

Forty four-year-old Fadnavis, a four-term MLA from Nagpur, will be administered the oath of office by Governor C Vidyasagar Rao at Wankhede Stadium in the presence of Prime Minister Narendra Modi, several of his Cabinet colleagues, chief ministers of
BJP-ruled states, corporate leaders, Bollywood stars and other celebrities.

A small Cabinet of around 10 ministers including state BJP Core Committee members Eknath Khadse, Sudhir Mungantiwar, Vinod Tawde and Pankaja Munde besides MLAs from Schedule Castes and Scheduled tribes is also likley to be sworn in.

"A slim and trim government will take oath tomorrow," a BJP leader said.

As talks with former ally Shiv Sena for a possible tie-up are still going on, no minister from that party was likely to be inducted tomorrow.

"It seems unlikely that any Shiv Sena minister will be sworn in tomorrow. Talks with Sena are on in an amicable atmosphere for a possible tie-up in Maharashtra but there has been no outcome yet," BJP General Secretary Rajiv Pratap Rudy told PTI.

Maintaining that BJP was looking forward to a decision soon, he said, "This may not happen tomorrow."

BJP had emerged as the single largest party in the 288-member state Assembly with 122 seats but one of its MLAs Govind Rathod died.

Though technically it will be a minority government until Sena joins it, declared support from 41-member NCP will act as a hedge for the BJP dispensation. It also has the support of several Independent MLAs and those from some smaller parties.

Meanwhile, Shiv Sena chief Uddhav Thackeray is likely to hold discussions with senior leaders again this evening and announce the party's stand on joining the government.

Sena MP and spokesman Sanjay Raut said "positive talks" were on between the two parties and extended best wishes to Fadnavis and his team.


20.08 | 0 komentar | Read More

GSS Infotech: Revised outcome of AGM

Written By Unknown on Rabu, 29 Oktober 2014 | 20.07

GSS Infotech has submitted a copy of corrected copy of the minutes of the 11th Annual General Meeting (AGM) of the Company held on September 30, 2014.

GSS Infotech Ltd has submitted to BSE a copy of corrected copy of the minutes of the 11th Annual General Meeting (AGM) of the Company held on September 30, 2014.Source : BSE

Read all announcements in GSS Infotech

To read the full report click here


20.07 | 0 komentar | Read More

Diageo launches pre-mixed vodka Smirnoff Ice in India

The drinks would be available in two flavours -- Smirnoff Ice Black and Smirnoff Ice Original.

UK-based distiller Diageo on Wednesday introduced its first pre-mixed vodka in the Indian market with the launch of Smirnoff Ice, a variant of the world's top selling vodka brand Smirnoff. The drinks would be available in two flavours -- Smirnoff Ice Black and Smirnoff Ice Original.

Smirnoff Ice Black has a strong, sharp intense taste, while Smirnoff Ice Original is lighter lemon-flavoured priced between Rs 75 and Rs 110 in Goa and Karnataka, where the brands will be available shortly.

Speaking on the launch, Bhavesh Somaya, Marketing & Innovation Director, Diageo India commented: "Smirnoff Ice will revolutionize a unique occasion/space with the proposition of "Starting the party with ICE" - with its convenient premixed format. We are tapping into a new occasion and looking to drive recruitment of LDA+ consumers with Smirnoff. Its attractive packaging and refreshing taste will resonate well with consumers looking for exciting convenient options."


20.07 | 0 komentar | Read More

Why DDA has failed to charm flat buyers

After a 4-year hiatus the Delhi Development Authority or the DDA launched its biggest ever housing scheme this September with over 25,000 flats on offer.

Usually, this is the one chance where buyers get to own a small piece of the national capital at literally throw away prices but according to CNBC-TV18's Nayantara Rai, the DDA sale this time around hasn't evoked buyer frenzy.

On November 5th and the DDA will draw lots for 25,034 apartments ranging from Rs 5.5 lakh to Rs 1.2 cr.

The first housing scheme since 2010, DDA has received 7.5 lakh applications as against the 17 lakh brochures that were sold. So 50% of those that chose to buy brochures did not finally apply. Insiders in DDA concede the response has been tepid and not as overwhelming as 4 years back.

They attribute this to a 5 year lock-in and the ban on transfer of the property to any third party including a family member.

DDA typically prices the apartments 40-50% below market rates and this year was no exception. But the 5-year lock-in is expected to prevent a steep price appreciation and has kept speculators at bay.

DDA had even resorted to extending the deadline of submitting applications from Oct 9 to Oct 15 in a bid to shore up interest.

Just to put it in perspective, in 2010 the DDA had again received the same response; 7.5 lakh applications but for few fewer apartments on offer that is 16,118.

Also unlike the previous schemes, DDA this time round has kept a much higher quota for its smallest sized apartments. Over 95% of the flats on offer have only one bed room costing between Rs 14.34 and 27.85 lakhs.

There are only 561 two bedroom flats on offer for Rs 42-69.62 lakh, and just 21 three bedroom apartments for Rs 37.5 lakh to 1.2 cr.

Given the frenzy on the the launch day of sep1, the DDA had anticipated a much stronger response. Hundreds of people had lined up at the DDA headquarters from 6am, online traffic led to the DDA's website crashing.

Unfortunately the euphoria was short lived. The winners will be decided by draw on November 5 and will be broadcast live on Youtube. DDA said it chose Youtube over its own site to avoid any embarrassment again.


20.07 | 0 komentar | Read More

Buy Exide Industries; target of Rs 197: Motilal Oswal

Motilal Oswal is bullish on Exide Industries and has recommended buy rating on the stock with a target of Rs 197 in its October 21, 2014 research report.

Motilal Oswal`s research report on Exide Industries

"Exide Industries, net sales grew 23.3% YoY to INR17.6b (our estimate: INR16.9b). While sales to OEMs were flat YoY, four-wheeler batteries grew 21% YoY, led by 17% growth in replacement segment. Motorcycle batteries grew 12% YoY and industrial batteries grew 37% YoY. Margins shrank 340bp QoQ to 11.8% (our estimate: 14.2%). High margin inverter sales declined 30% QoQ (seasonality). Raw material expenditure grew 80bp QoQ to 67.1% (our estimate: 65.8%) and other expenditure grew 170bp QoQ to 15% (our estimate: 14%). Higher spends on technology and quality improvement also impacted margins."

"EXID has regained lost share in the four-wheeler replacement segment and will now focus on margins. The management expects EBITDA margins of 16-17% over the next 18-24 months. Benefits of cost reduction measures would be seen from 4QFY15. Major source of savings would be raw material cost (250-300bp savings on value engineering and technology upgradation). The company will be taking a 5% price hike on inverters effective from November. It invested INR1.5b in Exide Life during the quarter to fund its growth. The management does not expect any further material investment in FY15 and guided capex of INR5.5b over FY14-16."

"We cut our EPS estimates for FY15/FY16 by 6.9%/3.4% to INR7.1/INR9.5 to reflect weaker 2QFY15 performance. The stock trades at 21.4x/16x FY15E/16E EPS of INR7.1/9.5 (18.6x/13.9x adjusted for insurance valuation of INR20/share). Maintain Buy with a target price of INR197," says Motilal Oswal research report. 

For all recommendations, click here  

Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

To read the full report click here


20.07 | 0 komentar | Read More

Road Ministry to seek Cabinet approval for new bill soon

Written By Unknown on Selasa, 28 Oktober 2014 | 20.07

The Road Transport Ministry will move the new Bill governing the road sector to the Cabinet soon and hopes to get it passed in the winter session of Parliament.

"I am trying my best to present the Road Transport and Safety Bill, 2014, in the next session of Parliament to get its approval. Very shortly it will be sent for Cabinet and Prime Minister Narendra Modi's approval," Road Transport and Highways Minister Nitin Gadkari said today.

It has been our endeavour to bring down road accidents by 50 per cent in the next two years as India accounts for the highest road accidents and related deaths, Gadkari said on the sidelines of the National Road Safety and Transport Development Councils meeting here.

As high as five lakh road accidents happen in India annually with 1.5 lakh deaths, he said, adding about 4.5 lakh victims of road accidents happen to be in the age group of 15 to 45 years.

Seeking to come down heavily on traffic offenders, government has proposed steep penalties of up to Rs 3 lakh along with a minimum 7-year imprisonment for death of a child in certain circumstances, besides huge fines for violations.

The new Road Safety and Transport Bill 2014 also proposes a fine of Rs 5 lakh per vehicle as well as imprisonment for faulty manufacturing design, besides cancellation of licences for rash and negligent driving.

The Bill, in which states opinions are sought proposes penalty of up to Rs 1 lakh or imprisonment for six months which may extend to one year or both in case of using vehicle in unsafe conditions and state governments suggestions will be incorporated in it.

Gadkari said a multi-mode public transport system was on the anvil incorporating best practices of the advanced nations while at the same time the government was focusing on strengthening road infrastructure.

"Highways building work worth Rs 5 lakh crore is on the anvil under te public-private-partnership mode for four-laning of the NHs," he said.

He added that Prime Minister Narendra Modi has encouraged FDI in infrastructure space.

The government was promoting ethanol-friendly buses to cut on huge Rs 6 lakh crore import bills on crude in the country besides taking steps to introduce electricity-operated buses, he said.

"We will request the Finance Minister to give concessions to environment-friendly technologies," he said, adding that even if Rs 3 lakh crore is saved out of Rs 6 lakh crore import bills, it will strengthen the economy.


20.07 | 0 komentar | Read More

Accel Transmatic: Updates on outcome of AGM

Accel Transmatic has submitted a copy of minutes of the 28th Annual General Meeting (AGM) of the Company held on September 29, 2014.

To read the full report click here


20.07 | 0 komentar | Read More

Engineering exports up 20% in September

India's engineering exports to Iran, Turkey and Jordan too have witnessed a healthy growth, EEPC India has said. The sector contributes about 25 percent in the country's total outbound shipments.

India's engineering exports grew by over 20 percent year-on-year to USD 6.48 billion in September on account of high demand particularly in South Asia and Middle East nations.

In September last year, these exports were at USD 5.38 billion, according to the Commerce Ministry data. According to engineering exporters' body EEPC India, in the current fiscal, three countries in South Asia are in the top 25 destinations of India's engineering exports.

India's engineering exports to Iran, Turkey and Jordan too have witnessed a healthy growth, EEPC India has said. The sector contributes about 25 percent in the country's total outbound shipments.

It helped push India's exports, which rose by 2.73 percent to USD 28.9 billion in September. The country's total engineering exports for April- September this fiscal aggregated to about USD 35 billion.

Engineering exports include transport equipment, capital goods, other machinery/equipment and light engineering products like castings, forgings and fasteners. The other sectors which recorded a healthy growth in September include rice (17.7 per cent), coffee (13.39 pc), marine products (13.3 pc), mica, coal and other ores (7.88 pc), leather (13.72 pc), gems and jewellery (11 pc) and textiles (16 pc).

To further boost the country's exports, the government is expected to announce fiscal and non-fiscal incentives in the forthcoming foreign trade policy (FTP). It is expected to be released next month.


20.07 | 0 komentar | Read More

Nifty ends at 8027 after a very good trading session

The Nifty ended higher by close to around 30 points and the bank Nifty yet again went ahead and scored a century. In the last seven trading sessions the bank Nifty has gained more than 1,100 points odd.

Yet another good trading session for the Nifty. The Nifty ended higher by close to around 30 points and the bank Nifty yet again went ahead and scored a century. In the last seven trading sessions the bank Nifty has gained more than 1,100 points odd. So the bank Nifty has definitely been the driver of this big rally.


20.07 | 0 komentar | Read More

Asia: Next big market for internet and mobile growth

Written By Unknown on Senin, 27 Oktober 2014 | 20.07

Internet is the new age industrial revolution and there is no denying that there are many opportunities that it brings with itself but along with it comes a lot of responsibility, the main being that of ensuring internet for all.

Welcome to The Internet for All forum 2014 brought to you by CNBC-TV18 and Uninor. Internet, when I think of the word the first thought that comes to mind is the philosophy of Vasudhaiva Kutumbakam, how this entire philosophy comes to life from the virtual world.

Would you imagine that 6,000 tweets are tweeted each second, 100 hours of video is uploaded on Youtube every minute, 240 million google searches are made each hour and 106 billion emails are exchanged each day. Internet is the new age industrial revolution and there is no denying that there are many opportunities that it brings with itself but along with it comes a lot of responsibility, the main being that of ensuring internet for all.


20.07 | 0 komentar | Read More

New York Life's PE funds invest Rs 50 cr in Adlabs

The funding is part of the pre-IPO placement offering committed by investors in the IPO documents filed with Sebi this May, the company said.

The Manmohan Shetty-promoted Adlabs Entertainment, which operates theme and water parks, today said it has received Rs 50-crore funding from New York Life Insurance-run PE funds Jacob Ballas India Holdings IV and Jacob Ballas Capital India.

The funding is part of the pre-IPO placement offering committed by investors in the IPO documents filed with Sebi this May, the company, which runs Adlabs Imagica theme park and Aquamagica water park near here, said.

Adlabs Imagica, located around 100km from here off the Mumbai-Pune Expressway, became operational last year, while Aquamagica, situated nearby, was launched recently. Adlabs is expected to open a hotel by next January.

Commenting on the development, Shetty, the film producer- turned-entrepreneur, said "with this funding Adlabs will continue on the journey to build a suite of first-of-its-kind entertainment projects in the country. This is another step towards our planned IPO."

Bharat Bakhshi, Partner at Jacob Ballas Capital, said his fund is very enthused with the performance and potential of Imagica as a world class entertainment destination.

Centrum Capital acted a financial advisor to the transaction.

Established in 1845, New York Life Insurance Company is the largest mutual life insurance firm in the US. One of the largest life insurers in the world, it also owns New York Life Investment Management that has USD 544 billion in assets under management.

Jacob Ballas Capital is a leading India-focused investment advisory firm. It serves as advisors to investment managers of three India-focused private equity funds with over USD 600 million under management.


20.07 | 0 komentar | Read More

Softbank to invest $10 bn in India, $1 bn in Snapdeal

The investment firm is said to be interested in Indian telecommunication and aviation space and the IT minister has assured the company of a conducive business climate in India.

Japan's telecommunication and investment firm Softbank is likely to invest nearly USD 10 billion in India of which they will dedicate USD 1 billion to ecommerce site Snapdeal.com

Snapdeal is bullish on the Indian ecommerce space and expects the market to grow to USD 5 trillion in the next few years. The deal will be an entirely equity investment deal.

The investment firm is said to be interested in Indian telecommunication and aviation space and the IT minister has assured the company of a conducive business climate in India.


20.07 | 0 komentar | Read More

PE investments touch $3.1 bn in July-Sep: Grant Thornton

According to the assurance, tax and advisory firm Grant Thornton, PE investments witnessed a significant improvement both in terms of value (47 percent) as well as volume (37 percent) in July-September quarter.

Private equity investment in the July-September quarter reached USD 3.1 billion, registering a growth of 47 percent over the corresponding period last year driven by the Flipkart deal, says a report.

According to the assurance, tax and advisory firm Grant Thornton, private equity investments witnessed a significant improvement both in terms of value (47 percent) as well as volume (37 percent) in the July-September quarter this year.

In the quarter, PE investments amounted to USD 3.12 billion through 157 deals, while in the corresponding period last year there were 115 such transactions worth USD 2.12 billion.
"Private equity witnessed a 47 percent increase in values led by the billion dollar investment in Flipkart and 37 percent increase in volumes driven by the IT & ITeS sector with over 40 percent share in total deal volume," the report said.

There were several big ticket deals in the quarter. As many as 15 investments were over USD 50 million each, including two over USD 100 million and one billion dollar investment, the report said. In the third quarter of 2013 there were only nine investments worth over USD 50 million each.

Sectorwise, IT/ITES, mainly driven by e-commerce, dominated PE deal values and volumes and going forward the sectors that are expected to see renewed deal activity include infrastructure, energy, consumer and financial services.

"We expect valuations to go up given the renewed business sentiments which in our view, would be both a challenge and an opportunity for dealmakers to close deals in the coming quarters," Grant Thornton India Partner Raja Lahiri said.

"We believe that this momentum of deal activity will continue to increase and we look forward to closing the year on a high note," Lahiri added.

PE investment so far in 2014 stood higher at USD 8.4 billion as against USD 7.8 billion in 2013, with 38 percent higher volumes in 2014 as compared to 2013, led by the technology sector.


20.07 | 0 komentar | Read More

The Future Of Tax!

Written By Unknown on Minggu, 26 Oktober 2014 | 20.07

Published on Sat, Oct 25,2014 | 17:40, Updated at Sat, Oct 25 at 17:42Source : CNBC-TV18 |   Watch Video :

This week, The Firm reports from on location the 68th Congress Of The International Fiscal Association. 1000 tax professions in Mumbai debating Tax Morality, Double Non-Taxation, Base Erosion, Profit Shifting, Digital Economy Taxation & Treaty Abuse. As the global economy is awash with tax challenges, The Firm focussed on revenue reform – what are countries doing to stake claim to their 'Fair Share Of Taxes'. The many trillion dollar question is the impact on how MNC's do business across the world. In this special episode of The Firm, on location the 68th Congress Of The International Fiscal Association, Menaka Doshi speaks to four of the world's best tax experts - Porus Kaka, Senior Advocate & President - International Fiscal Association; Philip Baker -QC, Gray's Inn; Michael Lennard, Chief - International Tax Cooperation, United Nations & Pramila Shrivastav, Former Chief Commissioner - Income Tax.


20.07 | 0 komentar | Read More

Go long on midcaps, bluechips, quality stocks: Sukhani

The chart for Nifty tells us that we are in a long term bull market, said Sudarshan Sukhani of s2analytics.com. However, he says the markets may correct but the level is known.

"7,800 is now our line in the sand. So far as the Nifty is above 7,800 which is the recent low I have rounded it off we will assume that the correction is over and the Nifty is going towards 8,200 testing the lifetime highs and maybe making newer ones," he said.

Sukhani advises to go long on all midcaps, bluechips and good quality stocks.

Below is the transcript of Sudarshan Sukhani's interview with CNBC-TV18's Latha Venkatesh, Anuj Singhal and Sonia Shenoy.

Latha: What is the overall chart of the Nifty or the Sensex telling you at this juncture, how much could the dip be and what does the high look like at this point in time for 2014?

A: The chart for the Nifty tell us we are in a long term bull market. We have built a base that lasted for four to five years, we have broken out of that base. If the base building takes five years then hopefully the bull market will also give us five years of rallies. So that is the underlying theme over which we are working and through which we are trading. That is a long term theme.

To say if the correction is over, it is a short term call. No one knows that. The markets can correct but we know the levels, which is much more important. 7,800 is now our line in the sand. So far as the Nifty is above 7,800 which is the recent low I have rounded it off we will assume that the correction is over and the Nifty is going towards 8,200 testing the lifetime highs and maybe making newer ones.

Maybe we will go to 8,400 and then come back to 7,800 all these are conjectures, we don't know. Why worry about it, at this point we know we should be on the long side. So far as the Nifty, for the intermediate trader is above 7,800. For the short term trader we keep on talking about what the levels are, where your stop loss should be. At this point we should be long anyway.

Sonia: Tell us what one should be buying in the next one hour in this Mahurat session?

A: Go for midcaps today and just buy and you rightly asked, we shouldn't be shorting this market, not today, because we are in a short term uptrend. I will quickly rattle up the names that are worth looking at.

One is Adani Port ; Latha asked about it yesterday and today is the day when you want to buy it. NTPC , which is giving us a dream pattern, a bullish head and shoulder; yesterday it corrected which means you could actually buy it on a dip. Bharat Forge  which is in a huddle after a sharp correction is giving us a sense that the correction is over and a big break out is imminent, that is three. Finally we have Godrej Industries  which is a high risk buy. We are trying to see if a low has been made and catch that bottom if possible. All midcaps, all blue chips, all good quality stocks, go long.


20.07 | 0 komentar | Read More

Fresh ally trouble: BJP-SAD ties under duress?

It was a strange situation during the campaigning phase of the Haryana's assembly elections. BJP alliance partner in Punjab Shiromani Akali Dal (SAD) led by Parkash Singh Badal and his son Sukhbir Badal went all out to support the Indian National Lok Dal. The Badals insisted they had longstanding ties with the Chautalas and had informed the BJP leadership of their support to the INLD - despite how important winning Haryana was to the BJP.

"SAD and INLD together are contesting for 90 seats. The next government will be that of Om Prakash Chautala. Haryana progressed during Chautala's rule," said Sukhbir Singh Badal, President, Shiromani Akali Dal

The tension between the two parties soon rose to the surface. Former BJP MP Navjot Sidhu hit out at the political positioning of the SAD in Haryana.

"These people (SAD) are the same people who hug and kiss BJP in Punjab and wrestle with it in Haryana. How can our alliance partner in Punjab support a convicted person for the post of the Chief Minister? They are stabbing us in the back," Navjot Sidhu, Leader, BJP, said.

Other BJP leaders in Punjab have also begun to say the party should distance itself from the SAD and contest the 2017 assembly elections in Punjab on its own - powered by the Modi wave. The Punjab BJP unit though maintains that the party will decide on its alliance with the sad at the appropriate time.

According to Kamal Sharma, President - Punjab Unit, BJP, "BJP has become stronger under Modi. Our alliance with the SAD is strong. We will cross the bridge when we come to it."

The Akali Dal has denied any rift - saying ties with the BJP are as solid as ever.

Bikram Majithia, Minister, Punjab, said: "BJP relation with SAD is a deep relationship. When it came to Modi becoming Prime Minister we were the first to support him….if you ask us a hundred times also...this relationship will stay together."

BJP has been the minor partner in the SAD-BJP alliance in Punjab. With 12 seats in the 117 member assembly, hitting the 59 mark to form the government on its own in 2017 might be a challenge. However, the results of the Haryana elections where the BJP went from 4 seats to 47 to form a majority government - may propehsize a favourable outcome for the party in Punjab.


20.07 | 0 komentar | Read More

PM Modi inaugurates HN Reliance Foundation Hospital

Prime Minister Narendra Modi on Saturday inaugurated the Sir HN Reliance Foundation Hospital and Research Centre in South Mumbai.

The hospital, in its 90th year, has been completely rebuilt by Reliance Foundation, into a modern 19-storey tower with two heritage wings. The foundation is headed by Nita Ambani.

The rebuilt hospital has collaborations with John Hopkins, MD Anderson Cancer Centre, Massachusetts General Hospital and the University of Southern California. It has all modern facilities.

The hospital will reserve a fifth of its capacity for the underprivileged and provide 10 percent beds for free to the needy and another 10 percent at subsidised rates.

Welcoming the Prime Minister and Maharashtra Governor Vidyasagar Rao at the inauguration Nita Ambani said: "We re-dedicate Sir HN Reliance Foundation Hospital to the people of Mumbai", adding that the hospital will treat "each patient as equals".

Mrs Ambani thanked PM Modi for the initiatives taken by him saying "each of PM's initiatives have a connect to healthcare".

Around 50 doctors of India origin across the world have joined the hospital, she said, adding: "Good health is a fundamental right. It is non-negotiable. Everyone deserves to live life to the fullest. Only a healthy nation can be prosperous."

Addressing the inaugural ceremony, PM Modi said that the need of the hour is preventive healthcare in order to scale down the outbreak of diseases and boost the quality of health in the country.

The PM lauded the efforts of Reliance Foundation in giving a new lease of life to Mumbai's first general hospital built in the year 1925. The PM said that in a way it is a new beginning for the hospital.

Modi stressed on Make in India initiative to develop medical equipment locally, which will help in cutting costs. He even favoured the need to integrate tele-medicine to enable expert opinion even for people living far away is extremely important.

The PM mentioned that another important aspect of good healthcare is the provision of clean drinking water. He went on to exemplify his point by lauding the efforts the Madhya Pradesh government for starting a programme encouraging children to wash their hands.

"The journey from health insurance to health assurance is long and has to be achieved," Modi said, adding that all political parties should have health as their one point agenda.

He also stressed on holistic health and said that he has been pushing for an International Yoga Day.  

Kokilaben Dhirubhai Ambani presented a memento to PM at the inaugural function.

Mukesh Ambani, Chairman and Managing Director, Reliance Industries , appreciated the presence of Prime Minister Modi and Governor of Maharashtra at the event. He also lauded PM's US visit.

Present at the inauguration were Amitabh Bachchan, Gulzar, Shah Rukh Khan, Aamir Khan, Hrithik Roshan, Paresh Rawal, Rishi Kapoor, Neetu Kapoor, Sonakshi Sinha, Saif Ali Khan, Kareena Kapoor, Aishwarya Rai, Bharat Ratna Sachin Tendulkar, Sunil Gavaskar, Praful Patel, Kajol, Rani Mukherjee, Sonali Bendre, union minister Nitin Gadkari and Maharashtra BJP leaders Devendra Fadnavis, Vinod Tawde and other celebrities.

(With inputs from agencies)

Disclosure: Network 18, which publishes moneycontrol.com, is now part of the Reliance Group.


20.07 | 0 komentar | Read More

Fresh ally trouble: BJP-SAD ties under duress?

Written By Unknown on Sabtu, 25 Oktober 2014 | 20.07

It was a strange situation during the campaigning phase of the Haryana's assembly elections. BJP alliance partner in Punjab Shiromani Akali Dal (SAD) led by Parkash Singh Badal and his son Sukhbir Badal went all out to support the Indian National Lok Dal. The Badals insisted they had longstanding ties with the Chautalas and had informed the BJP leadership of their support to the INLD - despite how important winning Haryana was to the BJP.

"SAD and INLD together are contesting for 90 seats. The next government will be that of Om Prakash Chautala. Haryana progressed during Chautala's rule," said Sukhbir Singh Badal, President, Shiromani Akali Dal

The tension between the two parties soon rose to the surface. Former BJP MP Navjot Sidhu hit out at the political positioning of the SAD in Haryana.

"These people (SAD) are the same people who hug and kiss BJP in Punjab and wrestle with it in Haryana. How can our alliance partner in Punjab support a convicted person for the post of the Chief Minister? They are stabbing us in the back," Navjot Sidhu, Leader, BJP, said.

Other BJP leaders in Punjab have also begun to say the party should distance itself from the SAD and contest the 2017 assembly elections in Punjab on its own - powered by the Modi wave. The Punjab BJP unit though maintains that the party will decide on its alliance with the sad at the appropriate time.

According to Kamal Sharma, President - Punjab Unit, BJP, "BJP has become stronger under Modi. Our alliance with the SAD is strong. We will cross the bridge when we come to it."

The Akali Dal has denied any rift - saying ties with the BJP are as solid as ever.

Bikram Majithia, Minister, Punjab, said: "BJP relation with SAD is a deep relationship. When it came to Modi becoming Prime Minister we were the first to support him….if you ask us a hundred times also...this relationship will stay together."

BJP has been the minor partner in the SAD-BJP alliance in Punjab. With 12 seats in the 117 member assembly, hitting the 59 mark to form the government on its own in 2017 might be a challenge. However, the results of the Haryana elections where the BJP went from 4 seats to 47 to form a majority government - may propehsize a favourable outcome for the party in Punjab.


20.07 | 0 komentar | Read More

The Future Of Tax!

Published on Sat, Oct 25,2014 | 17:40, Updated at Sat, Oct 25 at 17:42Source : CNBC-TV18 |   Watch Video :

This week, The Firm reports from on location the 68th Congress Of The International Fiscal Association. 1000 tax professions in Mumbai debating Tax Morality, Double Non-Taxation, Base Erosion, Profit Shifting, Digital Economy Taxation & Treaty Abuse. As the global economy is awash with tax challenges, The Firm focussed on revenue reform – what are countries doing to stake claim to their 'Fair Share Of Taxes'. The many trillion dollar question is the impact on how MNC's do business across the world. In this special episode of The Firm, on location the 68th Congress Of The International Fiscal Association, Menaka Doshi speaks to four of the world's best tax experts - Porus Kaka, Senior Advocate & President - International Fiscal Association; Philip Baker -QC, Gray's Inn; Michael Lennard, Chief - International Tax Cooperation, United Nations & Pramila Shrivastav, Former Chief Commissioner - Income Tax.


20.07 | 0 komentar | Read More

Go long on midcaps, bluechips, quality stocks: Sukhani

The chart for Nifty tells us that we are in a long term bull market, said Sudarshan Sukhani of s2analytics.com. However, he says the markets may correct but the level is known.

"7,800 is now our line in the sand. So far as the Nifty is above 7,800 which is the recent low I have rounded it off we will assume that the correction is over and the Nifty is going towards 8,200 testing the lifetime highs and maybe making newer ones," he said.

Sukhani advises to go long on all midcaps, bluechips and good quality stocks.

Below is the transcript of Sudarshan Sukhani's interview with CNBC-TV18's Latha Venkatesh, Anuj Singhal and Sonia Shenoy.

Latha: What is the overall chart of the Nifty or the Sensex telling you at this juncture, how much could the dip be and what does the high look like at this point in time for 2014?

A: The chart for the Nifty tell us we are in a long term bull market. We have built a base that lasted for four to five years, we have broken out of that base. If the base building takes five years then hopefully the bull market will also give us five years of rallies. So that is the underlying theme over which we are working and through which we are trading. That is a long term theme.

To say if the correction is over, it is a short term call. No one knows that. The markets can correct but we know the levels, which is much more important. 7,800 is now our line in the sand. So far as the Nifty is above 7,800 which is the recent low I have rounded it off we will assume that the correction is over and the Nifty is going towards 8,200 testing the lifetime highs and maybe making newer ones.

Maybe we will go to 8,400 and then come back to 7,800 all these are conjectures, we don't know. Why worry about it, at this point we know we should be on the long side. So far as the Nifty, for the intermediate trader is above 7,800. For the short term trader we keep on talking about what the levels are, where your stop loss should be. At this point we should be long anyway.

Sonia: Tell us what one should be buying in the next one hour in this Mahurat session?

A: Go for midcaps today and just buy and you rightly asked, we shouldn't be shorting this market, not today, because we are in a short term uptrend. I will quickly rattle up the names that are worth looking at.

One is Adani Port ; Latha asked about it yesterday and today is the day when you want to buy it. NTPC , which is giving us a dream pattern, a bullish head and shoulder; yesterday it corrected which means you could actually buy it on a dip. Bharat Forge  which is in a huddle after a sharp correction is giving us a sense that the correction is over and a big break out is imminent, that is three. Finally we have Godrej Industries  which is a high risk buy. We are trying to see if a low has been made and catch that bottom if possible. All midcaps, all blue chips, all good quality stocks, go long.


20.07 | 0 komentar | Read More

PM Modi inaugurates HN Reliance Foundation Hospital

The hospital, in its 90th year, has been completely rebuilt by Reliance Foundation, into a modern 19-storey tower with two heritage wings. The foundation is headed by Nita Ambani.

Prime Minister Narendra Modi on Saturday inaugurated the Sir HN Reliance Foundation Hospital and Research Centre in South Mumbai.

The hospital, in its 90th year, has been completely rebuilt by Reliance Foundation, into a modern 19-storey tower with two heritage wings. The foundation is headed by Nita Ambani.

Founded in 1925 as Mumbai's first general hospital, it was also frequented by Mahatma Gandhi. The rebuilt hospital has collaborations with John Hopkins, MD Anderson Cancer Centre, Massachusetts General Hospital and the University of Southern California. It has all modern facilities.

The hospital will reserve a fifth of its capacity for the underprivileged and provide 10 percent beds for free to the needy and another 10 percent at subsidised rates.

Welcoming the Prime Minister and Maharashtra Governor Vidyasagar Rao at the inauguration Nita Ambani said: "We re-dedicate Sir HN Reliance Foundation Hospital to the people of Mumbai", adding that the hospital will treat each patient as equals.

Mrs Ambani thanked PM Modi for the initiatives taken by him saying "each of PM's initiatives have a connect to healthcare".

Around 50 doctors of India origin across the world have joined the hospital, she said, adding: "Good health is a fundamental right. It is non-negotiable. Everyone deserves to live life to the fullest. Only a healthy nation can be prosperous."

Disclosure: Network 18, which publishes moneycontrol.com, is now part of the Reliance Group.


20.07 | 0 komentar | Read More

Forex - EUR/USD edges higher on upbeat Gfk report

Written By Unknown on Jumat, 24 Oktober 2014 | 20.07

Investing.com - Investing.com - The euro edged higher against the U.S. dollar on Friday, helped by the release of upbeat German consumer climate data, although Thursday's U.S. jobless claims report continued to support demand for the greenback.

EUR/USD hit 1.2665 during late Asian trade, the session high; the pair subsequently consolidated at 1.2660, adding 0.11%.

The pair was likely to find support at 1.2582, the low of October 7 and resistance at 1.2740, the high of October 22.

Sentiment on the euro improved after data showed that the Gfk German consumer climate index rose to 8.5 in October from 8.4 in September, whose figure was revised up from a previously estimated reading of 8.3.

Analysts had expected the index to fall to 8.0 this month.

The single currency had also found support on Thursday after data showed that the euro zone saw a marginal uptick in business activity in October.

Research group Markit said its preliminary euro zone manufacturing purchasing managers' index ticked up to 50.7 this month from a final reading of 50.3 in September. The region's services PMI held steady at 52.4, slightly above expectations of 52.0.

Meanwhile, the dollar remained supported after a report on Thursday showed that U.S. initial jobless claims rose last week, but the underlying trend indicated improving labor market conditions.

The Department of Labor said the number of Americans filing for initial jobless benefits in the week ending October 18 increased by 17,000 to 283,000, broadly in line with forecasts.

However, the four-week average fell to 281,000, the lowest since May 2000, while continuing claims, which counts people receiving benefit for at least the second month in a row, also hit a 14-year low, of 2.35 million.

The euro was fractionally higher against the pound, with EUR/GBP easing up 0.08% to 0.7895.

Later in the day, the U.S. was to produce a report on new home sales.

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20.07 | 0 komentar | Read More

Brent slips towards $86 as NY Ebola case hits risk appetite

Brent reversed sharp overnight gains and fell towards USD 86 a barrel on Friday as investors' risk appetite took a hit from news that a doctor in New York City tested positive for Ebola.

The first confirmed case in America's largest city has renewed fears about the spread of the virus, prompting a tumble in US stock futures, while Asian shares also lost ground.

"Such news is not good for risk assets, with investors looking for a flight to safety. This could curb travel and that's how it could feed through to the oil markets," said Ben Le Brun, market analyst at OptionsXpress in Sydney.

"We could also be seeing some profit-taking after very strong overnight gains."

The front-month contract of international oil benchmark Brent was down 61 cents at USD 86.22 a barrel by 0233 GMT. Brent settled USD 2.12, or 2.5 percent, higher on Thursday, its largest percentage gain in a day since June 12.

US crude for December delivery fell 70 cents to USD 81.39 a barrel, after closing USD 1.57 higher, its largest daily gain since September 16.

Saudi supplies lower

Oil markets had risen sharply on news that crude supplies to the market from Saudi Arabia, the world's top oil exporter, fell to 9.36 million barrels per day (bpd) in September, down 328,000 bpd from August, according to an industry source.

This comes after OPEC's (Organization of Petroleum Exporting Countries) September world oil report that Saudi pumped 9.7 million bpd, up from 9.6 million bpd in August. The difference could be due to how much oil was put into storage. Broadly stronger than expected economic data from the Eurozone also provided some support.

"Certainly this was the good news that the market was looking for after news on weakening demand. And I think with the majority of the market in a short position, any positive news will give a major reaction to the upside. It's all over to the OPEC meeting now," Le Brun of OptionsXpress said.

The 12-member OPEC will meet on Nov. 27 to review its output target of 30 million bpd for the first half of 2015. So far, only a minority of members have called for an output cut, including Libya.


20.07 | 0 komentar | Read More

Gold futures rise but upside seen limited

Investing.com - Investing.com - Gold prices was higher in early European trade on Friday, but gains were expected to remain limited as Thursday's upbeat U.S. jobless data continued to weigh on the precious metal.

On the Comex division of the New York Mercantile Exchange, gold for December delivery traded at $1,232.90 a troy ounce during European morning trade, up 0.30%.

The December contract settled 1.32% lower on Thursday to end at $1,229.1 a troy ounce.

Futures were likely to find support at $1,222.00, the low from October 15 and resistance at $1,244.90, Thursday's high.

Demand for the safe-haven asset weakened after a report on Thursday showed that U.S. initial jobless claims rose last week, but the underlying trend indicated improving labor market conditions.

The Department of Labor said the number of Americans filing for initial jobless benefits in the week ending October 18 increased by 17,000 to 283,000, broadly in line with forecasts.

However, the four-week average fell to 281,000, the lowest since May 2000, while continuing claims, which counts people receiving benefit for at least the second month in a row, also hit a 14-year low, of 2.35 million.

Traders were now turning their attention to an upcoming report on U.S. new home sales due later in the day for further indications on the strength of the housing market.

On Tuesday, the National Association of Realtors said that U.S. existing home sales increased 2.4% to a 5.17 million units last month from 5.05 million in August. Analysts had expected existing home sales to rise 1% to 5.10 million units in September.

Elsewhere in metals trading, Comex, silver for December delivery gained 0.55% to $17.250 a troy ounce, while December copper edged up 0.12% to trade at $3.044 a pound.

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20.07 | 0 komentar | Read More

Forex - GBP/USD edges higher after U.K. GDP report

Investing.com - Investing.com - The pound edged higher against the U.S. dollar on Friday, after U.K. third quarter growth data came out in line with market expectations but gains were expected to remain limited as sustained concerns over the spread of Ebola weighed on risk sentiment.

GBP/USD hit 1.6056 during European morning trade, the session high; the pair subsequently consolidated at 1.6050, adding 0.12%.

Cable was likely to find support at 1.5940, the low of October 16 and resistance at 1.6132, the high of October 22.

In a preliminary report, the Office for National Statistics said U.K. gross domestic product rose 0.7% in the third quarter, in line with expectations, after a 0.9% increase in the three months to June.

Year-on-year, Britain's GDP rose at an annualized rate of 3.0% in the last quarter, as markets had anticipated, down from a 3.2% growth rate in the second quarter.

Markets were jittery after The New York Times reported earlier Friday that a doctor in New York City, identified as Craig Spencer, tested positive for the Ebola virus after returning from treating patients in West Africa.

Meanwhile, the dollar remained supported after a report on Thursday showed that U.S. initial jobless claims rose last week, but the underlying trend indicated improving labor market conditions.

The Department of Labor said the number of Americans filing for initial jobless benefits in the week ending October 18 increased by 17,000 to 283,000, broadly in line with forecasts.

However, the four-week average fell to 281,000, the lowest since May 2000, while continuing claims, which counts people receiving benefit for at least the second month in a row, also hit a 14-year low, of 2.35 million.

Sterling was fractionally higher against the euro, with EUR/GBP easing 0.09% to 0.7882.

Also Friday, data showed that the Gfk German consumer climate index rose to 8.5 in October from 8.4 in September, whose figure was revised up from a previously estimated reading of 8.3.

Analysts had expected the index to fall to 8.0 this month.

Later in the day, the U.S. was to produce a report on new home sales.

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Read more News on Investing.com and download the new Investing.com apps for Android and iOS!


20.07 | 0 komentar | Read More

U.K. CBI industrial order expectations fall to 15-month low

Written By Unknown on Kamis, 23 Oktober 2014 | 20.07

U.K. CBI industrial order expectations fall to 15-month low

Investing.com - Investing.com - U.K. industrial order expectations deteriorated to the worst level in 15 months in October, dampening optimism over the country's economic outlook, industry data showed on Thursday.

In a report, the Confederation of British Industry said its index of industrial order expectations decreased by 2.0 points to a reading of minus 6.0 this month from September's reading of minus 4.0.

Analysts had expected the index to hold steady at minus 4.0 in October.

On the index, a reading above 0.0 indicates increasing order volume is expected, below indicates expectations are for lower volume.

Rain Newton-Smith, CBI Director of Economics, said, "The manufacturing sector is clearly facing headwinds. Global political instability, mounting concerns about weakness in the Eurozone and recent rises in Sterling are all weighing on export demand.'

GBP/USD was trading at 1.6014 from around 1.6016 ahead of the release of the data, while EUR/GBP was at 0.7905 from 0.7906 earlier.

Meanwhile, European stock markets were mixed. London's FTSE 100 shed 0.4%, the DJ Euro Stoxx 50 advanced 0.45%, France's CAC 40 inched up 0.35%, while Germany's DAX rose 0.55%.

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Read more News on Investing.com and download the new Investing.com apps for Android and iOS!


20.07 | 0 komentar | Read More

Gold futures decline ahead of U.S. jobless claims report

Investing.com - Investing.com - Gold prices edged lower on Thursday, as market players looked ahead to the release of key U.S. data later in the session for further indications on the strength of the economy and the future path of monetary policy.

On the Comex division of the New York Mercantile Exchange, gold futures for December delivery traded at $1,239.80 a troy ounce during European morning hours, down $5.70, or 0.46%.

A day earlier, gold prices lost $6.20, or 0.5%, to settle at $1,245.50 a troy ounce.

Futures were likely to find support at $1,222.00, the low from October 15, and resistance at $1,255.60, the high from October 21.

Also on the Comex, silver futures for December delivery shed 11.1 cents, or 0.64%, to trade at $17.12 a troy ounce.

The U.S. will release the weekly report on initial jobless claims later Thursday, after last week's report showed that new filings for unemployment benefits fell to 264,000, the lowest since 2000.

While analysts expected jobless claims to rise to 282,000 this week, another reading below 300,000 would probably make forecasters upbeat about October non-farm payrolls.

Elsewhere in metals trading, copper for December delivery inched up 1.8 cents, or 0.61%, to trade at $3.036 a pound.

Copper prices found support after data showed that manufacturing output in the euro zone expanded at the fastest rate in three months in October.

Europe as a region is third in global demand for the industrial metal.

Earlier Thursday, data showed that China's HSBC manufacturing PMI edged up to 50.4 this month from 50.2 last month, only just above forecasts for 50.3.

Despite the improvement in the headline number, the level of output in factories fell to a five-month low of 50.7 this month, underlining concerns over a cooling economy.

The Asian nation is the world's largest copper consumer, accounting for almost 40% of world consumption last year.

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20.07 | 0 komentar | Read More

Overdrive: Compare your best automotive purchase for Diwali

Overdrive's Jamshed Patel and Rohit Paradkar helps you compare between three hatchbacks, three sedans and three SUVs for your best automotive purchase.

Overdrive's Jamshed Patel and Rohit Paradkar helps you compare between three hatchbacks, three sedans and three SUVs for your best automotive purchase.
 
For more watch accompanying videos.


20.07 | 0 komentar | Read More

Watch: Real, royal and Rajasthani Diwali

Watch the real, royal and Rajathani Diwali with lot of traditions, customs, food and costumes.

Watch the real, royal and Rajathani Diwali with lot of traditions, customs, food and costumes.


20.07 | 0 komentar | Read More

Five reasons to invest in property this festive season

Written By Unknown on Rabu, 22 Oktober 2014 | 20.07

Ganesh Vasudevan
IndiaProperty.com

The festive season from September to March, augurs well for the Indian customer, who is given special discounts and a whole host of special offers especially designed to attract and entice him.

For the prospective homebuyer however, the festive season of 2014 is an especially exciting season. The cloud of financial gloom and uncertainty that had overshadowed the nation's real estate market since 2010 has finally lifted and the real estate sector in the country is rife with opportunities for those looking to purchase their dream home this year.

We bring you five reasons which will explain why now is the perfect time to consider investing in the newly revived property market in India.

Lower interest rates offered by banks
On the back of improved liquidity and to attract home loan borrowers in metros, many leading banks have cut rates on home loans above INR 75 lakh.  For instance, irrespective of the loan amount, SBI will offer home loans at an interest of 10.15 per cent to home loan borrowers. Women borrowers will be offered loans at 10.10 per cent across all loan amounts. Similarly state-owned Oriental Bank of Commerce has cut home loan rates by 0.5 percent point to 10.25 percent. Many banks have also waived their processing fees for this season.

Priority sector lending for home loans: EMI could come down by 8-10 percent
RBI announced priority sector lending for home loans of up to INR 50 lakh for houses worth up to INR 65 lakh in Mumbai, New Delhi, Chennai, Kolkata, Bangalore and Hyderabad, and up to INR 40 lakh for houses worth up to INR 50 lakh in other centres.
Commenting on this, Neeraj Bansal, partner and head of real estate and construction, KPMG (in India), said, "The RBI's move is expected to reduce the EMI of a home loan borrower by 8-10%, which, coupled with recent income tax incentives, have the potential to boost annual savings of an individual to the tune of INR 1 lakh."

Increase in disposable income
This year the annual budget raised the exemption limit for the general category of individual tax payers from INR 2 lakh to Rs 2.5 lakh and increased the exemption limit of home loan interest payable from INR 1.5 lakh to INR 2.0 lakh. This has led to increase in the disposable income in the hand of the common man.

Discounts galore
During the festive fervour the real estate industry is abuzz with activity. Developers promoting their projects aggressively offering a range of discounts, waivers and freebies with their projects. A popular scheme among developers is free gold coins, lucky draws, free furnishing and shopping vouchers.

New launches suited for every budget
Most new projects are launched during the festive season than any other time in the year. From luxury homes to mid-income apartments to budget flats, this festive season there is something new for buyers of every class and budget.


20.07 | 0 komentar | Read More

Muslim-based parties may change basics of Indian politics

R Jagannathan
Firstpost.com

The Maharashtra election results are confirmative of a national-cum-regional mini-trend that has been visible over the last five to seven years: Muslims are steadily deserting the so-called "secular" parties and opting for more radical Muslim identity-based "communal" parties.

As communal parties go, there are none so rabidly communal as the All-India Majlis-e-Ittehadul Muslimeen (AIMIM), a Hyderabad-based Islamic party that has, in the past, been associated with anti-Hindu violence going as far back as the old Nizam-run state of Hyderabad before the state was merged with the Indian Union.

AIMIM won two seats in the Maharashtra assembly elections (Byculla in Mumbai and Aurangabad central), and gave a big scare to the ultimate winners in three other seats (Aurangabad East, Nanded South and Parbhani), having led or come a close second in each of these seats during much of the early rounds of counting. The outfit, which shot to fame last year after one of its leaders,� Akbaruddin Owaisi, made a rabidly communal hate speech , is headed by Asaduddin Owaisi, who has also�warned of a "third wave" of Muslim radicalisation �after visiting Assam post the 2012 Bodo-Muslim clashes in Kokrajhar district.

AIMIM made its first impact in Maharashtra when it grabbed many seats in the Nanded Municipal Corporation polls of 2012. Even though the Congress led by Ashok Chavan won the elections by winning 41 of the 81 seats, what got missed in the air of Congress self-congratulation was� the rise of the AIMIM . From one seat, the party rose to 11 in the corporation, marking its arrival in Maharashtra as a potent communal force.

In the past, the Muslim vote in Maharashtra either went to the Congress, NCP or the Samajwadi party (in pockets of Mumbai and Bhiwandi). This time, the AIMIM has replaced the Samajwadi party as the preferred choice among Muslim-only parties. In 2009, the Samajwadi party got three seats; this time it got only one.

However, it would be a mistake to see the AIMIM vote in isolation and as being restricted only to Maharashtra, for it is a part of the new Muslim's search for options beyond the failed secularism of "secular" parties like the Congress and Samajwadi Party.

We saw this happen even in the recent Lok Sabha polls, where the BJP scored a big win in Uttar Pradesh because Muslims were in a quandary over which secular party to vote for. The BJP won even in traditional Muslim strongholds like Rampur and Saharanpur, where in the past only Muslim candidates have won. This time, Muslims could not bring themselves to vote en bloc for traditional secular parties like the Congress, Samajwadi or the BSP - and handed victory to the BJP as the Hindu vote polarised.

Muslims are now seeing the secular parties for what they are: protectionist rackets run only with an eye on a bloc Muslim vote. This is the context in which we must see the rise of the AIMIM. Young Muslims seem to have decided that if they have to be a vote bank, they might as well opt for a Muslim party that speaks for them instead of using proxies in the secular parties.

One reason for the decline of the Congress in recent years is the discovery by the Muslim electorate of identity politics – exactly as the BSP and the Republican parties did for Dalits and the Samajwadi and RJD did for Yadavs and OBCs.

Beyond the AIMIM, there has been a gradual – and possibly inevitable – rise of several Muslim parties.� As I have noted before , parties ranging from the old Indian Union Muslim League (IUML, largely restricted to Kerala), to the All India United Democratic Front (AIUDF, in Assam), not to speak of the traditional Kashmir Valley parties like National Conference and the PDP, are now being complemented by the rise of smaller region-based Muslim parties in places as far apart as Uttar Pradesh, West Bengal and even Maharashtra.

In the 2012 Jangipur Lok Sabha poll in Bengal,� Pranab Mukherjee 's son Abhijit barely squeaked through in a by-election, thanks to the arrival of two Muslim parties into the fray. Between them, the Welfare Party of India and the Social Democratic Party of India (SDPI) polled 41,620 and 24,691 votes, largely Muslim votes. As opposed to this, Mukherjee won by barely 2,500 votes. A little more polarisation, and he could have lost miserably.

In the last Uttar Pradesh polls, the new Muslim-based Peace Party of India made few waves, but one may hear more from it in the future. Tamil Nadu already has a Muslim Munnetra Kazhagam to complement the rest of the OBC-based Kazhagams that currently dominate state politics.

In Assam, where the Muslim-based AIUDF has emerged as a major force after the Congress, BJP and AGP, politics is heading towards the Kerala model, where votes will be split in future along communal, tribal and caste lines. Congress Chief Minister� Tarun Gogoi �may have won the last assembly elections hands down because the rise of the AIUDF may have consolidated the non-Muslim, non-immigrant vote in favour of the Congress. In short, the Muslim drift towards a Muslim party gave Gogoi an Assamese Hindu consolidation. In future, this may work to the BJP's advantage.

And in Kerala itself, the IUML is flexing its muscles by demanding a greater share of power in the ministry. The Muslim party triggered a controversy two years when its Public Works Minister, VK Ebrahim Kunju, told a party meeting in Palakkad that the League controlled the state. "Though we are not openly saying that, it is a reality. Only those things in the interests of our party will be allowed to be done in the state," Business Standard �quoted Kunju as saying, based on a speech aired by TV channels.

This new Muslim assertiveness is creating the first stirrings of future realignments. In Kerala, the Rashtriya Swayamsevak Sangh – usually engaged in a murderous war with the Left – has been making overtures to the Left – which usually gets the Ezhava vote. According to� Deccan Herald� report, TG Mohandas, writing in the Sangh's Malayalam mouthpiece Kesari, called for "friendly" ties between the two organisations. The Left has not taken the bait, but this is indicative of which way the wind is blowing.

The slow, but steady, rise in Muslim-based parties is likely to radically change the basics of Indian politics. It is not possible for any national or regional party – and especially those with claims to the secular vote – to treat Muslims as a vote bank.

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


20.07 | 0 komentar | Read More

Diwali crackers: 5 stocks to buy in Mahurat trading

SLIDESHOW

Wed, Oct 22, 2014 at 18:12

| Source: Moneycontrol.com

Copyright © e-Eighteen.com Ltd. All rights reserved. Reproduction of news articles, photos, videos or any other content in whole or in part in any form or medium without express written permission of moneycontrol.com is prohibited.


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Here's how experts read Wipro's Q2FY15 earnings

Software services firm Wipro 's second quarter ( July-September ) net profit declined nearly 1 percent sequentially (up 8 percent year-on-year) to Rs 2,098.3 crore dented by higher tax and finance expenses, and reconciling items. Profit in the previous quarter was Rs 2,118 crore.

In an interview to CNBC-TV18, Ravi Menon, AVP - IT, Centrum Broking, Vibhor Singhal, IT Analyst, Phillip Capital and Sarabjit Kaur Nangra, VP - Research Pharma, Angel Broking spoke about Wipro's financial performance in the quarter gone by and the road ahead.

Below is the interview of Ravi Menon, Sarabjit Kaur Nangra and Vibhor Singhal:

Q: Your initial comments now on Wipro?

Menon: The margins hit might have been due to their wage hike. They took only one month of that hit last quarter. So we were expecting a hit q-o-q about 66 basis point slight more than that. I am not worried about that and constant currency (CC) terms the growth seems very decent so may be there grown a lot more in Europe. So we didn't get the detail number I think if they have grown significantly in Europe I would be happy.

Q: Take us through the significance of the dollar revenue because they are slightly below what we were expecting below your expectation as well and does this show some kind of pressure on the top line in that case in dollar terms?

Nangra: In dollar terms the numbers have been broadly in line with our expectations. Only its rupee term that it is been slightly different so I guess it is probably has to do more with currency rather than anything else. So broadly earnings before interest and taxes (EBIT) margin wise also it has been in line with our expectations. So I guess broadly inline I would say nothing very surprising as far as I can see from numbers that are come in, client addition also seems to be decent enough. I guess decent kind of numbers but as far as guidance is concerned I guess it is around 1.81 to 1.84, a bit neutral I would say but yes below are expectations.

Q: So you see some kind of pressure or is it largely owing to the currency fluctuation that we have seen a dip in the dollar revenue?

Nangra: Possibly, I think more to do with currency.

Q: Where do you think the challenges were because again like I said this was supposed to be a seasonally strong quarter?

Nangra: As you said that constant currency is 3 percent, that's the very happening number actually. So that's a pretty good number and which is very strong and probably we need to see numbers more in detail but I guess numbers are decent enough and outlook also looks given that this will be second half is decent enough. The only issue with Wipro is probably every analyst who is watching is that it should get back to its growth trend I guess so and that is something given the volumes was not happening; it should happen probably.

Q: Do we still have you with us?

Menon: Reema I am get confused there are two sets of that we seem to be discussing. Is the dollar revenue USD 1793 million or USD 1771 million. If it is USD 1793 then it is great number.

Q: So dollar revenue 1.8 and constant currency is at 3 percent. Now in that case your comments now?

Menon: That I would say in slight disappointment but that means they have grown significantly in Europe.

Q: Your initial comments on Wipro are you disappointed and secondly how do you expect the stock to open up after this long four day holiday?

Singhal: Wipro's result as I would say probably on the moderate side if you look at the IT services dollar revenue growth of around 1.8 percent that's toward the lower end of the guidance. Now historically market has expected Wipro to probably come somewhere near the midpoint of their guidance. But having disappointed for the past three–four quarters I am not too sure if the expectations from the company was very high in any case. So overall the performance is I would say on the moderate side but not a big disappointment per se.

What is more disappointing is probably guidance for the next quarter. I mean at 2-4 percent approximately the dollar revenue growth on q-o-q basis which they are guiding for in spite of the strong deal flow that they have seen over the past four to six months is something that basically the market I mean we the investor community are not able to digest. That even after such a strong deal flow why is Wipro not able to basically demonstrate the kind of growth that it should.

So may be another quarter is what the market would want to see if the growth comes in but I mean given the reactions that Tata Consultancy Services ( TCS ) and HCL Tech  had in spite of a not a huge miss to the expectations that they had we would definitely expect the stock to react negatively. Not a huge magnitude because as I said that expectations were not that very high from the stock any which ways as they were from TCS and HCL Tech. But overall moderate set of numbers of the negative side.


20.07 | 0 komentar | Read More

Rupee gains 5 paise vs USD, ends at over 1-wk high of 61.31

Written By Unknown on Selasa, 21 Oktober 2014 | 20.07

Pramit Brahmbhatt, Veracity Group CEO, said: "Rupee appreciated mostly in morning session taking cues from local equities which traded positive for the day. However the dollar index surge in afternoon session above USD 85.20 level, dented the rupee appreciation to some extent."

The Indian rupee gained for the third session today, surging by another five paise against US dollar to end at over one-week high of 61.31 on sustained selling of the greenback by banks and exporters in view of strong equity market and capital inflows. The domestic unit resumed higher at 61.26 per dollar as against yesterday's closing level of 61.36 at the Interbank Foreign Exchange (Forex) Market.

It hovered in a range of 61.2475 per dollar and 61.3700 per dollar before concluding the day at 61.31 per dollar, a gain of five paise or 0.08 percent. It has gained 52 paise, or 0.84 percent, in three days. Today's rupee closing is the strongest since 61.1 on October 13.

Exporters and banks preferred to reduce their dollar positions in view of good foreign capital inflows into equity market amid government announcing a slew of reforms. In New York, the US dollar ended steady yesterday as foreign exchange markets braced for a batch of Chinese economic indicators amid lingering investor worries over signs of a slowdown in Asia's economic powerhouse and global growth. Weekend comments from members of the U.S. Federal Reserve also appeared to cement the view that the central bank will not hurry in raising rates.

Meanwhile, the Indian benchmark Sensex rose by 145.80 points, or 0.55 per cent, to end at 26,575.65. Pramit Brahmbhatt, Veracity Group CEO, said: "Rupee appreciated mostly in morning session taking cues from local equities which traded positive for the day. However the dollar index surge in afternoon session above USD 85.20 level, dented the rupee appreciation to some extent."

In the forwards market, premium dropped further on good receipts from exporters. The benchmark six-month premium payable in March declined to 199-201 paise from 208-210 paise previously. Far-forward contracts maturing in September, 2015 also moved down to 414.5-416.5 from 429.5-431.5 paise.

The Reserve Bank of India fixed the reference rate for dollar at 61.2967 and for the Euro at 78.5885. The rupee declined against the pound to 99.05 from 98.99 yesterday while improved further to 78.18 per euro from 78.42 per euro. It eased to 57.43 per 100 yen from 57.41 yesterday.


20.07 | 0 komentar | Read More

Remittance its taxation: How will it impact you?

Once an amount is received by the individual then its remittance of transmission to any other place would not be a taxable event under the income tax law. This makes it important for the individual to see whether there is a receipt of the income that has taken place and when they transfer the money whether this is actually remittance for them.

Arnav Pandya

There is an important concept in taxation which needs the attention of individuals because this is an area that is often the cause of several types of confusion. The question is with respect to the earning of income and when this is going to be taxed. There is also the issue of what actually represents a situation where the income would be taxed and hence the finer details related to the whole transaction needs to be considered. This gives rise to the issue of looking at the question of receipt versus remittance and hence the individual should pay attention to this aspect.

How this is raised
A lot of people get worried over the fact that the money that they have would be taxed at a certain stage. This happens a lot to people for example who have earned some amounts abroad but then have transferred the same to India in their bank account. This would give rise to the question as to whether the amount would be taxed in India when this comes back to the country and is often a big worry for a lot of people when they move their own money around. There is no need for them to worry on this front because a bit of attention to the details will ensure that their position is clear.

Receipt of income
The first thing to understand in the whole process of taxation in India is that this would happen at the point of the first receipt of the income. The receipt of the income is nothing but the first occasion when the receiver gets the money under his control. This means that this becomes the starting point of the entire chain of the income and hence this is a crucial area to consider. The receipt for salary becomes the time when this is due or it is received whichever is earlier as this is the time when the individual gets the right to the salary and hence this is the income that is actually earned by them. The receipt becomes the time when the taxation would kick into play and this would ease the position on the further use of the income.

Remittance
Once an amount is received by the individual then its remittance of transmission to any other place would not be a taxable event under the income tax law. This makes it important for the individual to see whether there is a receipt of the income that has taken place and when they transfer the money whether this is actually remittance for them. Thus for example when a person who is abroad sends some money to their own account back home then this would not be the situation of an income as this is the own money of the individual that is just being transferred.

This is the situation even if the amount that is earned abroad is received in the bank account of the individual abroad and then this is brought into the country. The key part is when the income is actually receipt as compared to the position where this is transferred to the country. There is a very clear position that when the amount is already earned abroad and all that is done is that this is remitted then there would not be a tax liability that would arise in the sense that this would not be considered as income that is earned again. This ensures that people should not worry when they are transferring their own income or money and they can plan for the use of the money in an effective manner.


20.07 | 0 komentar | Read More

Client code modification: Sebi says bourses can waive fines

The move comes after the Securities and Exchange Board of India (Sebi) received representations from stock brokers and stock exchanges to review the penalty structure in cases of client code modifications.

Capital market regulator Sebi today said stock exchanges can waive penalty on stock brokers in cases related to modification of client codes for non-institutional trades. However, stock exchanges can waive the penalty on a stock broker only once in a quarter. The move comes after the Securities and Exchange Board of India (Sebi) received representations from stock brokers and stock exchanges to review the penalty structure in cases of client code modifications.

Accordingly, in a circular, the market regulator said "stock exchanges may waive penalty for a client code modification where stock broker is able to produce evidence to the satisfaction of the stock exchange to establish that the modification was on account of a genuine error".

"Not more than one such waiver per quarter may be given to a stock broker for modification in a client code," the market regulator added. Further, proprietary trades would not be allowed to be modified as client trade and vice versa.

"Stock exchanges shall submit a report to Sebi every quarter regarding all such client code modifications where penalties have been waived," Sebi said. However, Sebi has directed the stock exchanges to undertake "stringent disciplinary actions against stock brokers who undertake frequent client code modifications". Besides, it has asked the bourses to take necessary steps to put in place systems for implementation of the amended norms.


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Cairn India Q2 profit falls 108%, revenue declines 11%

Moneycontrol Bureau

Oil explorer  Cairn India met street expectations on the topline front but missed estimates on bottomline and operational front in July-September quarter. Consolidated profit slipped 108.4 percent sequentially (down 33 percent year-on-year) to Rs 2,278 crore in the quarter gone by.

In Q1FY15, there was an exceptional item of Rs 1,627 crore pertaining to a change in depreciation policy, denting the bottom line of the company.

Consolidated net sales declined 11.2 percent (down 14 percent on yearly basis) to Rs 3,982 crore in the quarter ended September 2014 compared to Rs 4,482.9 crore in previous quarter on account of lower volumes due to planned maintenance shutdown, realisations impacted by the softer global crude prices and higher profit petroleum tranche in Rajasthan.

During the quarter, total profit petroleum was Rs 1,322 crore including Rs 1,133 crore for Rajasthan block, said the company in its filing, adding royalty for the RJ block was Rs 908 crore.

According to the average of estimates of analysts polled by CNBC-TV18, profit was expected at Rs 2,300 crore on revenue of Rs 3,960 crore for the quarter.

Operating profit dropped 13 percent sequentially to Rs 2,656 crore and margin declined 140 basis points to 66.7 percent. "Operational performance was impacted by increased facility and well maintenance costs related to the shutdown at Rajasthan, and exploration costs. This was in addition to lower volumes and softer realisations," the company reasoned.

Analysts had expected operating profit at Rs 2,800 crore and margin at 71 percent for the quarter.

Depreciation and depletion charge for the quarter was higher at Rs 703 crore, compared to Rs 547 crore in Q2 fiscal 2014, as a result of change in method of depreciation adopted in the previous quarter and an increase in asset capitalisation, said the company, adding operating costs at Rajasthan continued to remain in single digits at USD 6.3 per barrel.

Gross average daily operated production during the quarter stood at 194,508 barrels of oil equivalent per day (boepd).

The company said the three-year Rajasthan exploration campaign (2013-16) seeing continued success, doubling exploration and appraisal activity, adding there were three new discoveries in the quarter, taking the total number of discoveries to 36.

It is planning to drill horizontal wells in the current exploration and appraisal campaign in order to accelerate early production.

"Two new satellite fields - NI and Guda - brought into production. In Barmer Hill, the company is targeting monetization of around 2 billion barrels of hydrocarbons in place in the north of the basin," said Cairn.

The oil explorer ended the quarter with strong cash and cash equivalents position of Rs 16,029 crore.

Meanwhile, Cairn India today appointed Mayank Ashar as the managing director & chief executive officer of the company with effect from November 17, 2014.


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Punjab National Bank Q2 profit may see 142% growth: Poll

Written By Unknown on Senin, 20 Oktober 2014 | 20.07

Net interest income, the difference between interest earned and interest expended, may rise by 10 percent to Rs 4,421 crore in the quarter ended September 2014 compared to Rs 4,015.5 crore in corresponding quarter of last fiscal.

Public sector lender Punjab National Bank , which will announce its earnings on Tuesday, is expected to report a massive 142 percent growth in second quarter profit at Rs 1,224 crore compared to low base of Rs 505.5 crore in same quarter last year.

In Q2FY14, the bank's profit fell 53 percent year-on-year to Rs 505.5 crore due to 77 percent jump in provisions.

Net interest income, the difference between interest earned and interest expended, may rise by 10 percent to Rs 4,421 crore in the quarter ended September 2014 compared to Rs 4,015.5 crore in corresponding quarter of last fiscal.

Factors to watch out for are slippages from the restructured book and net interest margin. In Q1FY15, 55 percent of slippages were from the restructured book.

During the quarter (in an interaction with analysts), the bank said there would be 10 basis points improvement in net interest margin to 3.5 percent. In Q1FY15, NIM recovered 20 basis points Q-o-Q to 3.42 percent.

The poll suggests that consolidated loan book growth (with international book) may be 15 percent while domestic loan growth is expected to be 10-12 percent for quarter, in line with industry.

In Q1FY15, domestic advances were up 13.4 percent Y-o-Y led by agriculture, industry and retail while overseas advances grew 26.3 percent.

During the quarter, the bank cut interest rates for BULK deposits for over one month to one year by 25 basis points, and approved stock split of 1:5 and resolution to raise funds via QIP/FPO/Rights.


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GRM Overseas: EGM on Nov 03, 2014

GRM Overseas has informed that the Extra Ordinary General Meeting (EGM) of the Company will be held on November 03, 2014.

To read the full report click here


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HDFC Bank Q2 profit may jump 21% to Rs 2,398 cr: Poll

Net interest income, the difference between interest earned and interest expended, may grow by 18 percent to Rs 5,275 crore in the quarter ended September 2014 from Rs 4,476.5 crore in corresponding quarter of last fiscal.

Private sector lender  HDFC Bank is expected to report a 21 percent growth in profit after tax of Rs 2,398 crore in second quarter of current financial year 2014-15 compared to Rs 1,982 crore in same quarter last year, according to the average of estimates of analysts polled by CNBC-TV18. The bank will announce its earnings on Tuesday.

Net interest income, the difference between interest earned and interest expended, may grow by 18 percent to Rs 5,275 crore in the quarter ended September 2014 from Rs 4,476.5 crore in corresponding quarter of last fiscal.

Loan growth is estimated at more than 18-20 percent year-on-year, which is similar to Q1 growth of 20.7 percent led by corporates while retail growth was modest at 14 percent.

Other factors to watch out for are commercial vehicle loans portfolio (that was declined 21 percent in Q1FY15 amongst retail loans) and fee income.

The poll expects non-performing liability accretion to normalise during the quarter compared to Q1FY15 levels as estimates suggest that commercial vehicle/commercial equipment asset quality may stabilise.

In Q1FY15, asset quality disappointed marginally as gross non-performing liability was up 12 percent Q-o-Q and net non-performing liability rose by 23 percent (on low base).

Fee income is expected to remain weak. In Q1, other income was down 4 percent Y-o-Y to Rs 1,850.6 crore and fee income grew 9.5 percent Y-o-Y to Rs 1,406.5 crore.

Net interest margin is expected to be stable at 4.4 percent on sequential basis.


20.07 | 0 komentar | Read More

It's time to wake APP and smell the coffee

You might have not realized but the lines have already blurred. As consumers, we have changed and beyond amends. We drink instant coffee, book tickets online, plan holidays on this thing called 'Cloud', connect with friends,and even make enemies, through the internet.

The precise speed at which the world out there is expanding its digital footprint,is mind-boggling. Big businesses are now growing bigger and wise consumers are getting wiser. And what is causing this major technological change is that tiny little app that rests on most device screens.

Gartner predicts that by 2015 most mobile apps will sync, collect and analyze deep data about users and their social graph and that by 2017; wearable devices will be driving 50% of total app interactions.

Many businesses fail to realize that data from mobile apps, whether deployed on the premises or in the cloud, is not currently managed as part of an organizations information infrastructure. In fact, data collected from mobile apps is often siloed. However, the fact remains that an enterprise must harness the power of mobile apps to stay competitive and relevant. 

Sample these:

-- Forrester hints that nearly 50% of Indian CMOs are in search of new suppliers with specialized technologies and processes to build new digital engagement systems such as mobile apps or social media applications.

-- Another recent scenario-check by Vanson Bourne tells how 60% of organizations either have an enterprise-wide mobility strategy or are planning to implement one in the next year. Also, most organizations are prioritizing mobile apps versus internal BYOD programs (63% vs. 37%). Yes, customer demand is fueling the growth in enterprise mobility, but over 75% have seen or expect to see significant benefit from their mobility initiatives.

-- A survey by market research firm IDC shows that businesses developing customer relationship management (CRM) apps for smart phones and tablets are on the right track and 31% of business respondents have in fact identified CRM as the most-wanted mobile app.

All above instances show that the world is moving to a new digital decade and cloud century. You would only be left behind if you do not catch up with your consumers and employees and arm them with the applications of 'this' world. Besides, the truth is that more and more of your workforce is already getting habituated to the app cloud. It only makes sense that you provide them with something more enterprise-appropriate.

Forrester's Frank Gillett has also noted, "Microsoft has already said that it plans to bring together the app-stores and developer tools for Windows and Windows Phone and is likely to go further and unify Windows across devices. It must show that it will be much easier to upgrade and update Windows, that the new OS will be easier to learn and use for traditional PC users than Windows 8, and that theyve preserved mobile capabilities." This means that big PC-era firms like Microsoft have already re-invented themselves to the new enterprise-app era.

You can always look for the so-called 'small-market' economy solutions, but why would you do that if companies like Microsoft can offer you scalable, affordable and flexible ones?

So, which are these enterprise apps that have the businesses excited? Collaboration and social networking ones (email, calendaring and messaging) come first. While there are plethora of social messaging apps of the likes of Facebook and Twitter on the consumer side, enterprises look for something safer and more importantly a place where the IP of the firm is not compromised by sharing. Little wonder, a private social network like Yammer is much more popular in the enterprise space as it allows collaboration with all the administrative controls. The likes of CRM or customer resource management that come in second, let you manage client interaction in a seamless and intelligent manner. Then there are apps for human capital management (HCM), sales force automation, asset management, ERP, supply chain management and so on.

While apps have no doubt changed the face of businesses, some challenges do remain. For instance, Gartner warns that security can be a major issue and that this is where current major application testing efforts should be applied. Also, the app space is rapidly evolving and hence requires a frequent update, unlike traditional applications, necessitating a sound and comprehensive strategy.

Nonetheless, the writing on the wall is clear for Indian enterprises: Get out and embrace this new world of mobile apps. They are not just what your employees and consumers want but also something that will help you extract better, smarter and faster work without burning a hole in your pocket. The road to the future leads to the clouds, with apps being the building blocks.


20.07 | 0 komentar | Read More

IFCI's Rs 2000 cr NCD issue to open on October 20

Written By Unknown on Minggu, 19 Oktober 2014 | 20.07

State-run IFCI has come out with its public issue of secured, redeemable, non-convertible debentures of face value of Rs 1000 each for an amount aggregating up to Rs 2000 crore.

State-run NBFC IFCI has come out with its public issue of secured, redeemable, non-convertible debentures of face value of Rs 1000 each for an amount aggregating up to Rs 2000 crore.

The issue is going to open for subscription on October 20 which has scheduled to close on November 21, 2014.

Proceeds from the issue will be utilised towards lending minimum 75 percent of the amount raised and allotted in the issue; and for general corporate purpose: upto 25% of the amount raised and allotted in the issue.

Axis Trustee Services Limited is the book running lead manager and Karvy Computershare Private Limited is a registrar to the issue.


20.07 | 0 komentar | Read More
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