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Highlights of Union Budget 2010-11

2010-02-26T02:11:00.000-08:00

The Indian Finance minister Pranab Mukherjee presented the Union budget for 2010-11 in the Lok Sabha today after the Cabinet approval of the document. the following are some of the key highlights of his budget speech.

* The Indian economy was facing grave uncertainty. Growth had started decelerating when the interim and full budget for 2009-10 were presented.
* At home there was added uncertainty because of subnormal southwest monsoon.
* Yet, the economy now in a far better position than it was
eight years ago.
* India weathered the economic crisis well and emerged from the global slowdown faster than any other country.
* First challenge before the government is to quickly revert to
high GDP growth path of 9%.
* Expects 10% economic growth in the near future.
* Second challenge is to harness economic growth to make it more inclusive and consolidate gains.
* Third challenge is to overcome weakness in government's public delivery mechanism; a long way to go in this.
* Impressive recovery in the past few months. Can witness
faster recovery in the coming months.
* Food security has been strengthened.
* But bottleneck of the public delivery mechanism can hold us back.
* Fiscal year 2009-10 was challenging for the economy.
* Focus shifted to non-governmental actors and an enabling government. Government now concentrates on supporting and delivering services to the poorer sections.
* Economy stabilised in the first quarter of 2009 itself.
* 18.5% manufacturing growth in December was the highest in two decades.
* Figures for merchandise exports for January encouraging
after turnaround in November and December last year.

Read the complete highlights of the budget 2010-11 at www.stockinvest.in

Union Budget 2010

2010-02-21T04:57:00.000-08:00

Auto

* Increase in excise duty by 2%-4%.

* Increased allocation under National Urban Renewal Mission for buses

* No increase in excise duties for large cars

Banking and financial services

* Interest subventions for pre-shipment credit and short-term crop loans expected to be withdrawn.

* To qualify for tax benefits under Sec.80C on Fixed deposits lock in period to be reduced from five to three years.

* Raising the ceiling of TDS on interest income from fixed deposits.

* Allowing banks to raise tax-free infrastructure funds.

* Tax breaks to housing finance and infrastructure-lending companies.

* Housing loans below 30 Lakh rupees to be considered as "priority sector" lending.

* Refinancing from India Infrastructure Finance Co Ltd (IIFCL) for up to 60% of commercial bank loans for PPP (public private partnership) projects in critical sectors is expected to continue.

* Increase FDI in insurance sector from 26% to 49%.

* Recapitalisation of PSU banks with lower tier-1 capital.

Cement

* Roll back of excise duty cuts of around 2%-4%.

• Reduction in import duty on coal

Construction

* An increased outlay in government spending in infrastructure, especially for roads and urban projects

* Details of refinancing for India Infrastructure Finance Company Ltd (IIFCL) funding

* Clarity on minimum alternate tax provisions under a new Direct Tax code, to be implemented in FY12

* More financial availability for infrastructure projects

* National project status for state government projects

Engineering and capital goods

* Increase in import duty on foreign power equipments like turbines, boilers and generators.

* Rollback of excise duty concession given in the stimulus package to manufacturers by minimum 2%.

FMCG

* Raise excise duty on cigarettes by 5%-8%

* Excise duty cuts on products except food items may be reversed by 2-3%

* Rural initiatives for income generation are expected to continue

* MAT (Minimum Alternative Tax) rates can be increased, as a step forward towards the Direct tax Code.

.

Real estate
* Hotels to be included under Sec 80 IA (Infrastructure status) for all hotels across India and across all categories

* Greater thrust on PPP projects in housing.

* Increase in allotment to the Rajiv Gandhi Awas Yojana (slum rehabilitation programme)

* Increasing tax breaks provided to housing finance and infrastructure lending companies.

* Re-introduction of tax holiday for housing projects under Sec 80 IB (10)

* Increase in income tax deduction under Sec 80 C on home loan principal re-payment from Rs 0.1 million to Rs 0.2-0.3 million.

Information technology

* Extension of tax benefits for units in Software Technology Parks of India beyond March 2011.

* Spending on education through Sarv Shiksha Abhiyan to be increased.

* Abolishing MAT in STPI units

* Reduction in excise duty on electronic and IT goods from 10% to 8%.

Media

* Increase in foreign investment limits in direct-to-home (DTH), cable, FM radio and news broadcasting services.

* Raise the rate of service tax to 10%.

* Customs duty to be levied on newsprint.

* Tax holiday for the capital intensive business such as Gaming, Animation, VFX.

* Removal of custom duty on set-up boxes.

Pharmaceuticals

* The 150% weighted deduction enjoyed by in-house R&D expenses should be extended to expenses on outsourced studies such as clinical trials and specific laboratory studies. The weighted deduction should also be raised to 200%.

* State excise duty on certain formulations should be cut to 8% from 16%.

* Central excise duty on drugs to be restored to 8% from 4%.

* Allocation for the National Rural Health Mission should be increased significantly.

* Eliminating excise duties on all essential drugs.

* Extension of tax exemption for export oriented units and clarity on the new direct tax code on special economic zones.

Power

* Continuation of income tax exemption for mega power generation projects.

* Increasing the allocation towards the government-led electrical infrastructure augmentation schemes namely Rajeev Gandhi Grameen Viyuktikaran Yojana and Restructured Acclerated Power Development and Reforms Programme.

* Reduction of import duty on thermal coal.

Retail

* Allowing foreign investment in multi-brand retail.

* Industry status to retail.

Metals and mining

* Increase in excise duty cut to 10% from 8%

* No change in customs duty structure

* Increase in iron ore exports duty by 5%

* Removing the 5% import duty on stainless steel and alloy steel scraps

Chemicals & fertilisers

* Increase the price DAP between 8%-10%

* Tax holiday for a period of 10 years should be extended to all new fertiliser projects

* Excise duty on fuel oil used for fertiliser manufacturing should be abolished.

Oil & gas

* Infrastructure status for Oil and Gas to promote investments with tax sops.

* Tax benefits for city gas distribution and extension in tax holiday for new refineries

* Declared goods status to be given to natural gas.

* Abolishing service tax on exploration and production activities.

Telecom

* Unification of tax regime from current differential taxation methods

* Reduction in license fee to 6%

* Tax holiday for mergers and acquisition activities of telecom companies to be extended till April 2010

* Clarity on 3G Auction timeline

* Increase in service tax by 200 basis points

* Government to use Universal Service Obligation funds for rural and broadband penetration

* Increase in Minimum Alternate Tax from the present 16.5%.

Read the complete analysis of the Union Budget 2010-2011 at www.stockinvest.in

Value stock picks

2009-03-30T22:40:00.000-07:00

When the times are tough the good gets the same treatment as the bad and worse. Sensible people fail to distinguish between great opportunities and bad investments.
The sentiment in the stock market is a curious thing. It colors all the stocks with the same hue when the sentiment is negative and on a positive run even penny stocks look like value buys.

The global meltdown, both on the domestic front and globally, has led to a sharp decline in stock prices across the board in the last one year. Many stocks are quoting below their book values. Book value of a stock reflects the intrinsic value of the company and the stock. Many such stocks offer a great investment opportunity. Good companies are capable of delivering consistent performance even under tough conditions. Such value stocks will be the first to bounce back when the stock market sentiment improves.

Here are some of the value picks in the Indian Stock Market in the current scenario:

Bartronics BEML, Gateway Distriparks, IVRCLSimplex Infra, Tanlas Solutions, Tata Chemicals

Some other stocks which make a good buy at their current prices include Amtek India, Bharati Shipyard, EMCO, ICSA (India), Mah Lifespace, Mcleod Russel, MIC Electronics, Nagarjuna Cons. , Patel Engg., PTC India, Rolta India, Sanghvi Movers, Sasken Comm.

To read the complete list of value stock picks and more investing ideas click on the link below:

Value stock picks>>>>>>>>

To read about more stock market investing ideas and stock picks click in the link below:

>>>>>>>>>>>www.stockinvest.in

5 Signs of Stock Market Bottom

2009-03-17T19:36:00.000-07:00

Since the beginning of the bear market since late 2007, the BSE index SENSEX has been falling with small breathers of trading in a range sometimes and still smaller bump up which did not sustain. Most mini rallies the stock market has witnessed have quickly dissipated in the face of bear hammering.

In the last couple of trading sessions the Indian stock market is yet again making another attempt at a rally. This rally has come at the back of remarks from bank CEOs and economic data that has led investors to believe they'd gotten too pessimistic.

The BSE is following global cues as the Dow Jones industrial average rallied for four straight days from nearly 12-year lows, and gained 597 points, or 9 percent — its best week since November. That followed a two-and-a-half month drop in the Dow of nearly 25 percent

According to Tobias Levkovich, chief U.S. equity strategist for Citigroup "People have been worried that we're heading into this abyss ‘but’ there are signs that that's not the case, and there is some floor somewhere — that we may have overreacted."

The question top most on the mind of stock market investors is that if the worst really over?

There's no formula to find out if this latest rally will sustain. But market analysts are watching closely for signs that the worst might be behind us, and they say some good signs are starting to pop up.

"There are little subtle things that have happened that are good — good enough to see that market is trying to establish a near-term bottom," said John Kosar, market technician and president of Asbury Research in Chicago. "But it's way, way, way too premature to try to make an argument that this is 'The Bottom.' "

So what are the signs a prudent investor would look for to find out if the stock markets have bottomed out and what would indicate that there might be more down side yet?

FIVE SIGNS INDICATING THAT STOCK MARKET MAY HAVE BOTTOMED OUT:click here

FIVE SIGNS THAT THE STOCK MARKET BOTTOM IS YET TO BE MADE:click here

Read the complete Article and much more about stock picks, stock tips, stock market analysis and basics of stock market at Stockinvest.in

Sector and Stock Picks- Agriculture

2009-02-17T06:04:00.000-08:00

In India more than 65 per cent or 13.5 crore households live in rural areas. A large population also means a lot of opportunities for companies serving the needs of these individuals. India has a lot of untapped business opportunities in the vast rural domain. For instance, the Indian wireless business has grown the fastest in the world, thanks partly to low penetration levels in the country. Even after many years of high growth, the mobile penetration is still low at less than10 per cent in rural India, thus reflecting the untapped potential.

Over the last one decade (FY 1998-2008), India’s per capita income has more than doubled from $418 to over $1,000. On an average, the per capita income in rural India has grown by 4 per cent annually—or by 50 per cent in ten years. Among key reasons for the latter are the rising commodity prices (Minimum Support Price; MSP for crops), better resource utilization, improving productivity and higher production.

Which are the companies which will directly benefit from the prosperity in the rural sector? Read more to learn about stocks and companies which will grow with rural economic growth.Stocks discussed-Bharti Airtel, State Bank of India, Rallis, Jain Irrigation, Chambal Ferilizer, Hero Honda, Hindustan Unilever.

Read the complete article>>>>> click here

Interim Budget 2009 Highlights

2009-02-15T23:04:00.000-08:00

Finance Minister of India announced the interim Budget 2009 in Parliament. Mukherjee pointing out that the United Progressive Alliance (UPA) had succeeded in implementing the promises outlined in the Common Minimum Programme (CMP).

“Achieving 7% growth rate on a sustained basis was one of the targets of the UPA,” Mukherjee said. “And the country clocked above 9% growth rate for three consecutive years — FY06, FY and FY08.”

Highlights of 2009 Interim Budget:

*
All efforts made to deliver on commitments
*
Sustained growth over 9% in last 4 years
*
Per capita income grew 7.4% during UPA regime
*
Gross domestic savings rate at 37.7%, gross cap formation at 14.2%
*
Tax-GDP ratio at 12.5% in 2007-08, close to fiscal correction target
*
Domestic investment rate over 39% in FY08
*
Growth drivers - agriculture, services, manufacturing, construction
Outlook for food grain production encouraging for coming year
*
Exports grew at annual average rate of 26.4% during last 4 years
*
Challenges related to capital inflows and global inflation
*
We have weathered the crisis, but no room for complacency

Read the complete budget 2009 analysis and highlights at www.stockinvest.in>>>

Full text of Satyam Chairman's Letter

2009-01-07T07:07:00.000-08:00

Read below the text of the letter of Satyam Chairman written to the board members describing the fraud.

Satyam Computers Services Ltd.

From B. Ramalinga Raju
Chairman, Satyam Computer Services Ltd

Dear Board Members,

It is with deep regret, and tremendous burden that I am carrying on my conscience, that I would like to bring the following facts to your notice:

1. The balance sheet carries as of September 30, 2008

a) Inflated (non-existent) cash and bank balance of Rs 5,040 crore (as against Rs 5361 crore reflected in the books)

b) An accrued interest of Rs 376 crore which is non-existent

c) An understated liability of Rs 1,230 crore on account of funds arranged by me

d) An over stated debtor position of Rs 490 crore (as against Rs 2651 reflected in the books)

Continue reading the full text. Click here>>>>

Read more news about Satyams fraud. Click here>>>>

SEBI to probe Satyam transactions.>>>>>

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List of BSE NSE holidays in 2009

2009-01-01T08:02:00.000-08:00

NSE & BSE Holiday List for 2009

Moharram January 8th 2009

Republic Day January 26th 2009

Mahashivratri February 23rd 2009

Id-E-Milad March 10th 2009

Holi March 11th 2009

Sri Ram Navmi April 3rd 2009

Mahavir Jayanti April 7th 2009

Good Friday April 10th 2009

Dr. Ambedkar Jayanti April 14th 2009

Maharashtra Day May 1st 2009

Ramzan Id September 21st 2009

Dasera September 28th 2009

Gandhi Jayanti October 2nd 2009

Diwali (Bhaubeez) October 19th 2009

Gurunanak Jayanti November 2nd 2009

Christmas December 25th 2009

Moharram December 28th 2009

For more information visit stockinvest.in

Value stock picks of the week

2008-11-17T21:02:00.000-08:00

The Indian stock market is following the global trend and is down in the dumps. Stock market investors are too afraid to invest their hard earned money at the current levels amidst the global financial turmoil.

According to the tried and tested wisdom of stock market history such times offer great opportunities to long term investors. Many stocks of fundamentally sound companies are trading at attractive values. These stock picks make a great value buy at current levels.

The stock market is throwing up many value buying opportunities for long term stock investors. We regularly update you on stock picks where you can begin investing your money in small amounts. There is no guarantee that the stock market will not test its bottom again and you might find even cheaper valuations for these stocks. No one can predict and time the stock market bottom and these are a once in life time stock investing opportunities

Some of the stocks discussed are Hind Lever, Tata Power, Bharat Electronics, Allcargo Global, amongst other stocks.

To read the detailed analysis>>>>> click here

To read about more hot stock picks >>>>> click here

BSE Notices 17th November

2008-11-17T20:58:00.000-08:00

Mphasis

Mphasis Ltd has informed BSE that a meeting of the Board of Directors of the Company will be held on November 26, 2008, inter alia, to consider recommendation of dividend, if any, for the seven month period ended October 31, 2008

BSE Date:17 November, 2008

Powersoft Global Solutions

Powersoft Global Solutions Ltd has informed BSE that the Company has extended its financial year ending September 30, 2008 (12 months) to December 31, 2008 (15 months) and for which necessary approval has been obtained from Registrar of Companies, Bangalore.

Source: BSE Date:17 November, 2008

Satyam Computer Services

Satyam Computer Services Ltd has informed BSE that the Compensation Committee of Directors of the Company allotted 8,927 equity shares through circular resolution on November 14, 2008, approved on November 17, 2008 under stock option plans of the Company. Consequent to the above allotment, the paid up share capital of the Company has gone up from 673,788,425 equity shares of Rs 2/- each aggregating Rs 1,347,576,850.00 to 673,797,352 equity shares of Rs 2/- each aggregating Rs 1,347,594,704.00.

Source: BSE Date:17 November, 2008

Satyam Computer Services

Satyam Computer Services Ltd has informed BSE regarding a Press Release dated November 17, 2008 titled "Satyam BPO Among Top 4 in 2008 Global Six Sigma and Business Improvement Awards"

Source: BSE Date:17 November, 2008

Anukaran Commercial Enterprises Ltd

Anukaran Commercial Enterprises Ltd has informed BSE that Mr. Arvind Thakkar, Mr. Ramanlal Trividi and Mr. Mahendra Ganatra, additional Directors ate now appointed as directors of the Company.

Source: BSE Date:17 November, 2008

To read all the notices >>>>>click here

BSE and NSE notices and announcements

2008-11-16T21:49:00.000-08:00

G-Tech Info-Training Ltd has informed BSE about the unaudited financial results for the Quarter ended Sep 30, 2008

Source: BSE Date: 15 November, 2008

Jayant Mercantile Co. Ltd

Jayant Mercantile Company Ltd has informed BSE about the unaudited financial results for the Quarter ended Sep 30, 2008

Source: BSE Date: 15 November, 2008

Ardi Investments and Trading Company

Ardi Investments & Trading Company Ltd has informed BSE about the unaudited financial results for the Quarter ended Sep 30, 2008.

Source: BSE Date: 15 November, 2008

Shreevatsaa Finance and Leasing

Shreevatsaa Finance & leasing Ltd has informed BSE about the unaudited financial results for the Quarter ended Sep 30, 2008.

Source: BSE Date: 15 November, 2008

Gamma Rays Transmissions

Gamma Infoway Exalt Ltd has informed BSE about the unaudited financial results for the Quarter ended Sep 30, 2008.

Source: BSE Date: 15 November, 2008

Sharp Trading & Finance Ltd

Sharp Trading & finance Ltd has informed BSE about the unaudited financial results for the Quarter ended Sep 30, 2008.

Source: BSE Date: 15 November, 2008

Zenith Birla India

Zenith Birla India Ltd has informed BSE about the unaudited financial results for the Quarter ended Sep 30, 2008.

Source: BSE Date: 15 November, 2008

Aadi Industries

Aadi Industries Ltd has informed BSE about the unaudited financial results for the Quarter ended Sep 30, 2008.

Source: BSE Date: 15 November, 2008

To read all the latest NSE and BSE notices and announcements>>>>click here

Real estate investing and stock market investing

2008-11-16T21:37:00.000-08:00

If you have some money to spare which of these two are a better investment- Real estate or Stock market. Many investors face this dilemma.

Many investors that I have talked to advice me against investing in the stock market because of the huge risk involved. The present global economic meltdown does not help the case in any manner.

Most individual investors like me are afraid to put their hard earned money in the stock market. Banks do not offer much return if you park your money there. The rate of interest offered by the banks does not ever beat the rate of inflation. So if you put your money in the bank you are in reality loosing money than gaining interest. But , yes it is safest your money can be in a short period of time.

The real estate in India had a great run in the recent past but now things seem to be cooling down a bit. Prices are stabilizing or falling. It would be a good idea to invest in real estate in the present scenario. Investing in real estate related mutual funds can be even a better bet as your money will be managed by professionals and you do not have to worry about the mundane paper work and day to day care of the property.

Read the detailed article about the difference and rationale of investing in real estate Vs investing in stock market in the following article link.

Real estate Vs stock market investing >>>>> http://www.stockinvest.in/posts/Real_estate_Vs_stock_market_investing

To read more about real estate investing basics>>>> click here

Stock Market Notices and announcements

2008-11-06T07:11:00.000-08:00

NSE notices 6 November, 2008

Bharat Forge

Bharat Forge Ltd has informed the Exchange that the Company is proposing to enter into a Joint Venture Agreement with one of the Europe-based companies of Alstom Group on Monday, the 10th November, 2008, at New Delhi. The proposed joint venture project shall be subject to receipt of applicable government and regulatory approvals. The details of the Joint Venture Agreement will be announced after the event

Source: NSE Date: 06th-NOV-2008

Tata Motors

Tata Motors Limited has informed the Exchange vide its letter dated November 06, 2008 that “This is in respect to the comments appearing in the reports in today’s newspapers on Tata Motors to shut the Company’s plant in Jamshedpur for three days. We would like to inform you that the Company in its course of operation, adjusts its production to meet the demand for its products like working on single shift basis or three shift basis instead of normal/double shift operations as also temporary shut down. The three days shut down at Jamshedpur is also one of such measures taken by the Company to avoid unnecessary inventory build up. This is to clarify that above is not a lock out/strike/closure”.

BSE notices 6 November, 2008

Shree Narmada Aluminium Industries Ltd

Shree Narmada Aluminium Industries Ltd has informed BSE about the unaudited financial results for the Quarter ended Sep 30, 2008

Source: BSE Date:6 November, 2008

Balaji Hotel and Enterprise

Balaji Hotels & Enterprises Ltd has informed BSE about the unaudited financial results for the Quarter ended Sep 30, 2008.

Source: BSE Date:6 November, 2008

Balaji Industrial Corporation

Balaji Industrial Corporation Ltd has informed BSE about the unaudited financial results for the Quarter ended Sep 30, 2008.

Source: BSE Date:6 November, 2008

Source: NSE Date: 06th-NOV-2008

Read all the NSE, BSE Notices and Announcements and stock market news at Stockinvest.in

NSE notices 22 October, 2008

2008-10-22T06:54:00.000-07:00

Latest NSE announcements and notices from Stockinvest.in

Gillette India

Gillette India Limited has informed the Exchange regarding the standalone Results for the quarter ended on 30-SEP-2008 as follows: Net Sales of Rs. 14282 lacs for quarter ending on 30-SEP-2008 against Rs. 13730 lacs for the quarter ending on 30-SEP-2007. Net Profit / (Loss) of Rs. 2004 lacs for the quarter ending on 30-SEP-2008 against Rs. 2782 lacs for the quarter ending on 30-SEP-2007.

Source: NSE 22 October, 2008

Gemini Communications

Gemini Communication Limited has informed the Exchange that “The board of directors have transacted the following business at its meeting held on October 22, 2008. (1) The Board of Directors approved, subject to approval of members, to amend/inert the clause in the articles of association of company as 46.1 after Clause 46 under the heading of “Buy back of shares/ Securities” in accordance with 77A, 77AA and 77B of the Companies Act, 1956 and the Securities and Exchange Board of India (Buy Back of Securities) Regulations, 1998. (2) The Board of Directors decided to buy back of up to 10% equity shares capital and reserve of the Company. (3) The Directors decided to send a separate intimation after getting approval from shareholders for the proposal of buy back of its own shares”.

Source: NSE 22 October, 2008

Transformers and Rectifiers India

Transformers And Rectifiers (India) Limited has informed the Exchange vide notes to Accounts in the unaudited financial results for the quarter ended September 30, 2008 (taken on record by the Board of Directors of the Company at its meeting held on October 22, 2008) regarding the funds raised through the Initial Public Offer and utilisation up to September 30, 2008. The details of the same shall be available on the NSE website (http://www.nseindia.com) under: Corporates > Latest Announcements and on the Extranet Server (/Common/Corporate Announcements).

Source: NSE 22 October, 2008

Read all the NSE announcements and stock market info at Stockinvest.in

BSE notices 22 October, 2008

2008-10-22T06:48:00.000-07:00

Latest BSE announcements and notices from Stockinvest.in

Nu Tek India

Nu Tek India Ltd has informed BSE that a meeting of the Board of Directors of the Company will be held on October 30, 2008, inter alia, to consider the following: 1. To consider and approve the unaudited Quarterly Financial Results for II Quarter ended on September 30, 2008. 2. Consideration of ESOP Scheme for employees of the Company. 3. Increase in remuneration of Mr. Vineet Sirpaul, Director of the Company. 4. Calling Extra-Ordinary General Meeting, Approval of notice calling the meeting and fixing of Record Date. 5. Status update on Acquisition. 6. Acquisition of shares in Sugan Automatics Pvt. Ltd. 7. Appointment of Mr. J P Agrawal as Director in the Company.

Source: BSE Date: 22 October, 2008

Vulcan Engineers

Vulcan Engineers Ltd has informed BSE about the unaudited financial results for the Quarter ended Sep 30, 2008.

Source: BSE Date: 22 October, 2008

ICRA

ICRA Ltd has informed BSE regarding a Press Release titled “ICRA in MoU with The Karur Vysya Bank Ltd to rate Bank Loans under RBI’s New Capital Adequacy Framework for Basel-II”

Source: BSE Date: 22 October, 2008

Read all the BSE notices and share market information at Stockinvest.in

Stanchart rates Ultratech as performer

2008-10-21T19:42:00.000-07:00

Stock market analysis and stock picks from Stockinvest.in

Ultratech Cement has been trading at a P/E of 5.0 times and 5.8 times its FY09E and FY10E EPS at Rs 74.4 per share and 65.1 per share respectively. However, on an EV/Tonne basis Ultratech Cement has been trading at an EV/Tonne of $68.9, which is at a discount to its replacement cost. Considering the current macro economic factors which whereby the demand is expected to slowdown to 7-8 per cent compared to 9-10 per cent in the past 2 years coupled with commissioning of major green field capacities by the industry player over the next 6 - 9 months we expect cement prices to remain subdued.

Read the complete analysis and more hot stock picks from stockinvest.in

List of promoters buying their own stock

2008-10-21T19:37:00.000-07:00

Stock market investors must take a look at those stocks where the promoters are increasing their stake by buying shares in the present stock market down turn. Here is a list of companies where promoters have increased their equity holding recently

Indian stock markets have been in a continuous slide since the beginning of 2008. This has left most retail and institutional investors in jitters. Stock market investors do not seem to have the nerve any longer to invest in stocks.

Stock valuations in certain sectors and companies have become really mouth watering. The promoters of Indian companies have used the recent downswing in stock prices as an opportunity to buy shares of their companies cheaply to enhance their holdings in the company. The stock prices of many companies are ruling at a value of less than one-fourth of their peak in January.

The shareholding pattern for the quarter ending September 2008 shows that in several companies, promoters have raised their stakes substantially. Even though it is hard to find big names, several promoters of mid and small-cap companies have hiked their stakes ranging from 1-20% during the September quarter compared with the previous quarter.

Read complete story at Stockinvest.in

BSE notices 21 October, 2008

2008-10-21T05:51:00.000-07:00

Latest BSE notices and announcements from Stockinvest.in

Navin Fluorine International

Navin Fluorine International Ltd has informed BSE that the Board of Directors of the Company at its meeting held on October 21, 2008, inter alia, has proposes to pay an interim dividend of 50% (Rs 5 per share) on 1,00,99,889 equity shares of nominal value of Rs 10/- each, aggregating to Rs 505.00 lacs.

Source: BSE 21 October, 2008

Camlin

Camlin Ltd has informed BSE about the unaudited financial results for the Quarter ended Sep 30, 2008.

Source: BSE 21 October, 2008

Stewart and Mackertich Investment and Financial

SMIFS Capital Markets Ltd has informed BSE that a meeting of the Board of Directors of the Company will be held on October 31, 2008, apart form the consideration of unaudited results for the quarter ended September 30, 2008, the Board would inter alia consider the implementation of the proposed Stock Option Scheme prepared as per the SEBI (Employee Stock Option Scheme) Guidelines, 1999 and approved by the shareholders in the Annual General Meeting of the Company held on September 27, 2008.

Source: BSE 21 October, 2008

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NSE notices 21 October, 2008

2008-10-21T05:43:00.000-07:00

Latest NSE announcements and notices from Stockinvest.in

Gateway Distriparks

Avendus Capital Private Limited has informed the Exchange regarding the details of the equity shares of Gateway Distriparks Limited bought back through the Stock Exchange on October 21, 2008, as follows: 1) Date of Buyback: October 21, 2008; 2) (a) Name of the Broker: Avendus Capital Private Limited; (b) No. of equity shares bought back on BSE: 12,200; (c) No. of equity shares bought back on NSE: 58,900; (d) Total no. of equity shares bought back: 71,100; (e) Average Price of Acquisition (Rs.): 78.1832; 3) (a) Name of the Broker: CLSA India Limited; (b) No. of equity shares bought back on BSE: Nil; (c) No. of equity shares bought back on NSE: Nil; (d) Total no. of equity shares bought back: Nil; (e) Average Price of Acquisition (Rs.): NA; 4) Cumulative Equity Shares bought as on October 20, 2008: 3,861,231; 5) Quantity Closed Out on October 21, 2008 - Nil; 6) Quantity Closed Out as on October 20, 2008 - 31; 7) Total Quantity Closed Out - 31; 8) Total Equity Shares bought back as on October 21, 2008: 3,932,300.

Source: NSE 21 October, 2008

OCL Iron and Steel

OCL Iron And Steel Limited has submitted to the Exchange a copy of the Minutes of the Annual General Meeting of the members of the Company held on September 09, 2008. The copy of the same shall be available on the NSE website (http://www.nseindia.com) under: Corporates > Latest Announcements and on the Extranet Server (/Common/Corporate Announcements).

Source: NSE 21 October, 2008

Read all the NSE announcements for 21 October, 2008 at Stockinvest.in

Hot Stock Picks from Stockinvest.in

2008-10-21T05:41:00.000-07:00

Hot Stock Picks from Stockinvest.in

Stock: HDFC Bank

Price Target: Rs 1087

Brokerage: Motilal Oswal Securities

Motilal Oswal Securities has recommend 'buy' on HDFC Bank stock for a target price at Rs 1,087. Motilal expects earnings CAGR of 32 per cent over FY08-10 on 23 per cent CAGR in assets (combining HDFC Bank with CBoP from FY08 itself). The stock trades at 3.1 times FY09E and 2.3 times FY10E BV, and 20.7 times FY09E and 16.5 times FY10E EPS.

Motilal expects RoA to remain high at 1.3-1.4 per cent, with RoE at over 16 per cent in FY10 and 18 per cent in FY11. Motilal estimates BV at Rs 347 per share for FY09 and at Rs 465 per share for FY10. The brokerage expects EPS to be Rs 53 in FY09 and Rs 66 in FY10.

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NSE notices 20 October, 2008

2008-10-20T08:33:00.000-07:00

NSE notices and announcements from Stockinvest.in

Rolta India

Rolta India Ltd. has informed the Exchange regarding the standalone Results for the quarter ended on 30-SEP-2008 as follows: Net Sales of Rs. 25152 lacs for quarter ending on 30-SEP-2008. Net Profit / (Loss) of Rs. 4464 lacs for the quarter ending on 30-SEP-2008.

Source: NSE Date: 20th-Oct-2008

Rolta India

Rolta India Ltd. has informed the Exchange regarding the consolidated Results for the quarter ended on 30-SEP-2008 as follows: Net Sales of Rs. 34614 lacs for quarter ending on 30-SEP-2008. Net Profit / (Loss) of Rs. 2390 lacs for the quarter ending on 30-SEP-2008.

Source: NSE Date: 20th-Oct-2008

Voltamp Transformers

Voltamp Transformers Limited has informed the Exchange regarding the standalone Results for the half year ended on 30-SEP-2008 as follows: Net Sales of Rs. 34011.24 lacs for half year ending on 30-SEP-2008. Net Profit / (Loss) of Rs. 5050.5 lacs for the half year ending on 30-SEP-2008.

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BSE notices 20 October, 2008

2008-10-20T08:29:00.000-07:00

Latest BSE notices and announcements from Stockinvest.

Granules India

Granules India Ltd has informed BSE about the unaudited financial results for the Quarter ended Sep 30, 2008.

Source: BSE Date: 20th-Oct-2008

Dunlop India

Dunlop India Ltd has informed BSE about the unaudited financial results for the Quarter ended Sep 30, 2008.

Source: BSE Date: 20th-Oct-2008

Alembic

Alembic Ltd has informed BSE regarding a Press Relese dated October 20, 2008 titled “Revenues up 12% at Rs 352 crore. Export sales up by 57%”.

Source: BSE Date: 20th-Oct-2008

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Edelweiss maintains a buy on Orbit Corp

2008-10-19T22:47:00.000-07:00

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Orbit Corporation

Current market price: Rs 90.10

Brokerage: Edelweiss Securities

Orbit Corporation (Orbit) reported revenues of Rs 73.8 crore, down 9.8 per cent q-o-q and 24.3 per cent y-o-y, for Q2 FY09. The sequential decline was due to lower completion percentage at Orbit WTC and Orbit Eternia. Net profit for the quarter stood at Rs 13.7 crore, as against Rs 39.9 crore in Q2 FY08 and Rs 18.2 crore in Q1 FY09, a decline of 65.6 per cent and 24.8 per cent, respectively.

Three of Orbit’s projects are nearing completion and the company expects Rs 160 crore from customers of these projects by the end of CY08. This amount will be sufficient to fund its construction cost of Rs 100 crore for the year. Further, the company has six projects under construction aggregating 1.06 million square feet of saleable area.

These projects are highly monetisable, albeit at a right price and part sale at few of these projects can generate enough funds for the company to service its debt of Rs 180 crore, including interest cost of Rs 30 crore. The current property environment is adverse and prices are expected to drop, accompanied with lower volumes.

Consequently, the brokerage has revised down its revenue estimates to arrive at an average EPS of Rs 23.1 for FY09 and FY10. At Rs 91, the stock appears attractively priced at 0.5x FY10E book value. Maintain Buy.

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Stocks discussed: Infosys, P & G, Axis Bank, L& T

NSE notices 17 October, 2008

2008-10-18T06:04:00.000-07:00

Latest NSE announcements and notices from Stockinvest.in

ANG AUTO LIMITED ( 17-Oct-08 )

Chartered Capital and Investments Ltd. has informed the Exchange regarding the details of the equity shares of ANG Auto Ltd. bought back through the Stock Exchange
on October 16, 2008, as follows: 1) Date of Buyback: October 16, 2008; 2) (a) Name of the Broker: Integrated Master Securities Private Limited; (b) No. of equity shares bought back on BSE: 639 ; (c) No. of equity shares bought back on NSE/others: 739; (d) Total no. of equity shares bought back: 1378; (e) Average Price of Acquisition (Rs.): 39.91; 3) Cumulative Equity Shares bought as on October 15, 2008: 365884; 4) Quantity Closed Out on October 16, 2008 - NIL; 5) Quantity Closed Out as on October 15, 2008 - NIL; 6) Total Quantity Closed Out - NIL; 7) Total Equity Shares bought back as on October 16, 2008: 367262.

APOLLO TYRES LTD ( 17-Oct-08 )

Apollo Tyres Ltd has informed the Exchange that: "We have designated the following e-mail ID for redressal of Investor Grievances:- investors@apollotyres.com"

AURIONPRO SOLN LTD ( 17-Oct-08 )

Aurionpro Solutions Limited had informed the Exchange, vide its letter dated October 13, 2008, the proceedings of the Annual General Meeting of the Company held on September 30, 2008. The Company has now informed the Exchange that the company has observed one typographical error in the point No. 2 of the said letter. Rate of dividend declared in the Annual General Meeting is Rs.1.75 per share. While in the said letter the company had written Rs.1.70 per share.

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BSE notices 17 October, 2008

2008-10-18T05:30:00.000-07:00

BSE announcements and notices 17 October, 2008

BOM DYEING ( 17-Oct-08 )

Bombay Dyeing to announce Q2 results Board meeting on 27 October 2008 The board meeting of Bombay Dyeing & Manufacturing Company will be held on 27 October 2008 to approve the unaudited financial results for the second quarter ended 30 September 2008 (Q2).

BEML LTD ( 17-Oct-08 )

BEML to announce Q2 results Board meeting on 29 October 2008 The board meeting of BEML will be held on 29 October 2008 to consider and take record on the un-audited financial results for the second quarter and half year ended 30 September 2008 (Q2).

HIND.PETRO ( 17-Oct-08 )

Hindustan Petroleum Corporation forms CREDA - HPCL Biofuels In association with CREDA Hindustan Petroleum Corporation has formed a subsidiary company i.e. CREDA - HPCL Biofuels in association with Chhattisgarh State Renewable Energy Development Agency (CREDA) constituted for the development of renewable energy sources in the state of Chhattisgarh for the purpose of cultivation of Jatropha Plants for the production of bio-diesel. The company made this announcement during the trading hours today, 16 October 2008.

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NSE notices 16 October, 2008

2008-10-16T06:09:00.000-07:00

Latest NSE announcements and notices from stockinvest.in

Peninsula Lan

Peninsula Land Limited has informed the Exchange regarding the standalone Results for the quarter ended on 30-SEP-2008 as follows: Net Sales of Rs. 11050 lacs for quarter ending on 30-SEP-2008 against Rs. 11737 lacs for the quarter ending on 30-SEP-2007. Net Profit / (Loss) of Rs. 5460 lacs for the quarter ending on 30-SEP-2008 against Rs. 3369 lacs for the quarter ending on 30-SEP-2007.

Source: NSE Date: 16th-Oct-2008

Oracle Financial Services Software

Oracle Financial Services Software Limited has informed the Exchange regarding a press release dated October 16, 2008, titled “Oracle announces launch of Oracle FLEXCUBE Regional Support Center in Moscow”. A copy of the press release shall be available on the NSE website (http://www.nseindia.com) under: Corporates > Latest Announcements and on the Extranet Server (/Common/Corporate Announcements).

Source: NSE Date: 16th-Oct-2008

Sasken Communication Technologies

Sasken Communication Technologies Limited has informed the Exchange vide its letter dated October 16, 2008 that “At the Board meeting held today, Mr. Bharat P Mehta has been appointed as an Alternate Director for Mr. Jyotindra B Mody, in place of Mr. Shirish B. Mody who was hitherto an Alternate Director to him”.

Source: NSE Date: 16th-Oct-2008

HDFC Bank

Hdfc Bank Ltd has informed the Exchange regarding a press release, titled “HDFC Bank Ltd. - Financial Results (Indian GAAP) for the Quarter and Half Year ended September 30, 2008″. A copy of the press release shall be available on the NSE website (http://www.nseindia.com) under: Corporates > Latest Announcements and on the Extranet Server (/Common/Corporate Announcements).

Source: NSE Date: 16th-Oct-2008

Provogue (India)

Provogue (India) Limited has submitted to the Exchange a copy of the proceedings at the Annual General Meeting of the Shareholders of the Company held on September 15, 2008. A copy of the same shall be available on the NSE website (http://www.nseindia.com) under: Corporates > Latest Announcements and on the Extranet Server (/Common/Corporate Announcements).

Source: NSE Date: 16th-Oct-2008

HDFC Bank

HDFC Bank Ltd has informed the Exchange regarding the standalone Results for the half year ended on 30-SEP-2008 as follows: Interest earned of Rs. 761294 lacs for the half year ending on 30-SEP-2008 against Rs. 443192 lacs for the half year ending on 30-SEP-2007. Interest expended of Rs. 402302 lacs for the half year ending on 30-SEP-2008 against Rs. 228372 lacs for the half year ending on 30-SEP-2007. Net Profit / (Loss) of Rs. 99233 lacs for the half year ending on 30-SEP-2008 against Rs. 68971 lacs for the half year ending on 30-SEP-2007.

Source: NSE Date: 16th-Oct-2008

Panacea Biotech

Panacea Biotec Ltd. has submitted to the Exchange a copy of the proceedings of the Annual General Meeting of the Company held on September 27, 2008. A copy of the same shall be available on the NSE website (http://www.nseindia.com) under: Corporates > Latest Announcements and on the Extranet Server (/Common/Corporate Announcements).

Source: NSE Date: 16th-Oct-2008

HDFC Bank

HDFC Bank Ltd has informed the Exchange regarding the standalone Results for the quarter ended on 30-SEP-2008 as follows: Interest earned of Rs. 399121 lacs for the quarter ending on 30-SEP-2008 against Rs. 236276 lacs for the quarter ending on 30-SEP-2007. Interest expended of Rs. 212476 lacs for the quarter ending on 30-SEP-2008 against Rs. 120008 lacs for the quarter ending on 30-SEP-2007. Net Profit / (Loss) of Rs. 52798 lacs for the quarter ending on 30-SEP-2008 against Rs. 36848 lacs for the quarter ending on 30-SEP-2007.

Source: NSE Date: 16th-Oct-2008

Panacea Biotech

Source: NSE Date: 16th-Oct-2008

HDFC Bank

Source: NSE Date: 16th-Oct-2008

Religare Enterprises

Religare Enterprises Limited has informed the Exchange regarding a press release dated October 16, 2008, titled “Religare signs up ace golfer Jyoti Randhawa”. A copy of the press release shall be available on the NSE website (http://www.nseindia.com) under: Corporates > Latest Announcements and on the Extranet Server (/Common/Corporate Announcements).

Source: NSE Date: 16th-Oct-2008

Religare Enterprises

Source: NSE Date: 16th-Oct-2008

Coral India Finance and Housing

Coral India Finance & Housing Ltd has submitted to the Exchange a copy of the minutes of the Annual General Meeting of the members of the Company held on September 25, 2008. The copy of the same shall be available on the NSE website (http://www.nseindia.com) under: Corporates > Latest Announcements and on the Extranet Server (/Common/Corporate Announcements).

Source: NSE Date: 16th-Oct-2008

Gateway Distriparks

Gateway Distriparks Limited has informed the Exchange vide its letter dated October 14, 2008 the Reconciliation of Share Capital of the company, (pre and post extinguishment). The details of the same shall be available on the NSE website (http://www.nseindia.com) under: Corporates > Latest Announcements and on the Extranet Server (/Common/Corporate Announcements).

Source: NSE Date: 16th-Oct-2008

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BSE announcements 16 October, 2008

2008-10-16T06:05:00.000-07:00

Latest BSE announcements and notices from Stockinvest.in

MMTC Ltd

MMTC Ltd has informed BSE that a meeting of the Board of Directors of the Company will be held on October 31, 2008, to consider and take on record the unaudited financial results of the Company for the quarter ended on September 30, 2008 (Q2).