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Saturday, April 30, 2011

KV Kamath appointed chairman of Infosys Technologies, will succeed the company's founder N R Narayana Murthy on August 21.




Infosys Technologies, India's second largest software company, on Saturday 30th April named veteran banker and seasoned business transformation manger K V Kamath as its new chairman. Kamath, 63, who is currently a member of Infosys' board of directors, will succeed the company's founder N R Narayana Murthy on August 21.


The nominations committee of the company, which is facing one of the toughest times in its three-decades of existence, also named current chief operating officer S D Shibulal as CEO and MD, while the incumbent CEO, S Gopalakrishnan, was elevated to the post of executive co-chairman. Murthy, who turns 65 in August, will become the chairman emeritus, a non-executive position like Kamath's.

Murthy, along with six fellow software engineers, established Infosys with about $250 in 1981. In the last 30 years, they have made it one of the most respected names in the software outsourcing sector with an annual turnover of about $6.2 billion.

Kamath, the chairman-elect, is also the non-executive chairman of ICICI Bank, and is a renowned name in the corporate world.

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The All India Engineering Entrance Examination (AIEEE) 2011 delayed by two-and-a-half hours due to paper leak.



New Delhi: The All India Engineering Entrance Examination (AIEEE) 2011, which was scheduled to commence at 9:30 am on Sunday, has been delayed by two-and-a-half hours due to paper leak.

The exam, which is held in two parts, is now expected to start at 12:00 noon. The second paper, which was scheduled for the noon session from 2.00 pm to 5.00 pm, will now be held from 4.00 pm to 7.00 pm.

New Delhi: The All India Engineering Entrance Examination (AIEEE) 2011, which was scheduled to commence at 9:30 am on Sunday, has been delayed by two-and-a-half hours due to paper leak.

The exam, which is held in two parts, is now expected to start at 12:00 noon. The second paper, which was scheduled for the noon session from 2.00 pm to 5.00 pm, will now be held from 4.00 pm to 7.00 pm.


src-Zee News

Friday, April 29, 2011

TVS Motor Co, India's third largest two-wheeler maker Q4 2010-11 net profit doubles to Rs 41.7 cr, Latest Stock Price



TVS Motor Co, India's third largest two-wheeler maker, on Friday reported its net profit in Jan-March more than doubled, but its shares plunged as the earnings were way below market expectations.

"The results were below street estimates. Street was expecting quarterly profit around Rs 55 crores," said an auto analyst from a local brokerage who declined to be named.

Fourth quarter net profit rose to Rs 41.68 crore from Rs 202.93 crore and net sales to Rs 1,604 from Rs 1,192 billion, TVS Motor said in a statement earlier on Friday, 29th April.

Tuesday, April 26, 2011

Indo Rama Synthetics (India) Limited PAT for the year 2010-11 has jumped to Rs. 1.39bn up by 1855.26% , Latest Stock Price


Indo Rama Synthetics (India) Limited, India’s largest dedicated polyester manufacturer, today announced its audited annual and Q4 results for the financial year ended March 31, 2011.
For the financial year ended March 31, 2011, the gross sales stood at Rs. 30bn up by 12.81% as against Rs. 26.59bn in the previous year. EBIDTA for the year has been Rs. 4.17bn as compared to Rs. 2.23bn in the last year, up by 86.77%. The PAT for the year has jumped to Rs. 1.39bn up by 1855.26% from Rs. 71.3mn in the corresponding period.

Tata Teleservices (Maharashtra) Ltd. (TTML) has Rs.80 crore net profit in 2010-11 against a net loss of Rs. 318 crore suffered in the fiscal before 2



Mumbai, April 26 : Telecom service provider Tata Teleservices (Maharashtra) Ltd. (TTML) Tuesday reported a radical turnaround, saying it earned a net profit of Rs. 80 crore for the 2010-11 fiscal year ended March 31 against a net loss of Rs. 318 crore suffered in the fiscal before 2009-10.

The total sales of the company stood at Rs. 3,168.43 crore during the period under review as against Rs. 2,277.78 crore during the year ago period, the company said in a regulatory filing.

Monday, April 25, 2011

Future Ventures India Ltd : Company Profile, Promoters, Issue Details, IPO Rating, Issue size, Price Band


Future Ventures India Ltd Logo

Incorporated in 1996, Future Ventures India Ltd is part of Future Group (led by Kishore Biyani and owners of Future Bazaar, Pantaloons, Central, Big Bazaar, Food Bazaar, Home Town and E-zone).

Future ventures India Ltd is in the business of creating, building, acquiring, investing in and operating innovative and emerging businesses in consumption-led sectors in India. Within the consumption-led sectors, Future ventures has primary focus on opportunities in the business segments of Fashion, FMCG, Food Processing, Home Products, Rural Distribution and Vocational Education.

Company Promoters:
The Promoters of the company are:
Individual Promoter: Kishore Biyani

Corporate Promoters:
1. Future Capital Investment Private Limited;
2. Future Corporate Resources Limited (erstwhile PFH Entertainment Limited);
3. Future Knowledge Services Limited;
4. Pantaloon Industries Limited; and
5. Pantaloon Retail (India) Limited.

Issue Details

  • Issue Open: Apr 25, 2011 - Apr 28, 2011
  • Issue Type: 100% Book Built Issue IPO
  • Issue Size: Equity Shares of Rs. 10
  • Issue Size: Rs. 750.00 Crore
  • Face Value: Rs. 10 Per Equity Share
  • Issue Price: Rs. 10 - Rs. 11 Per Equity Share
  • Market Lot: 600 Shares
  • Minimum Order Quantity: 600 Shares
  • Listing At: BSE, NSE

Future Ventures India Ltd IPO Grading

CARE has assigned an IPO Grade 3 to Future Ventures IPO. This means as per CARE, company has 'Average Fundamentals'. CARE assigns IPO grading on a scale of 5 to 1, with Grade 5 indicating strong fundamentals and Grade 1 indicating poor fundamentals.

Paper manufacturer Ballarpur Industries (BILT) Q3 net up 10% to Rs 60.63 cr for the third quarter ended March 31, 2011,Latest Stock Price



Paper manufacturer Ballarpur Industries (BILT) on 24th April said its consolidated net profit rose by 10.15% to Rs 60.63 crore for the third quarter ended March 31, 2011, over the same period last fiscal.

The company had a net profit of Rs 55.04 crore for the same period previous fiscal.

The company's net sales rose to Rs 1,164.35 crore for the third quarter, compared to Rs 1032.37 crore in the same period previous fiscal, Ballarpur Industries said in a filing to the Bombay Stock Exchange (BSE).


Sunday, April 24, 2011

Axis Bank net profit soared 33 percent to Rs. 1,020 crore in the fourth quarter of 2010-11 on higher earnings from loan advances., Latest Stock Price



Mumbai, April 22 : Axis Bank, India's third largest private sector lender, said Friday 23rd April its net profit soared 33 percent to Rs. 1,020 crore in the fourth quarter of 2010-11 on higher earnings from loan advances.

For the fiscal year ended March 31, the bank's net profit zoomed 35 percent to Rs. 3,388 crore as against Rs. 2,515 crore in the previous year, Axis Bank said in a statement.

The bank's net interest income grew 31 percent and fee income rose 30 percent in fiscal 2010-11.

Indian Bank reported a 7 percent rise in net profit at Rs. 438.85 crore for the quarter ended March 31, Latest Stock Price



Mumbai, April 23 : Chennai-headquartered Indian Bank Saturday23rd April reported a 7 percent rise in net profit at Rs. 438.85 crore for the quarter ended March 31, as against Rs. 409.95 crore for the period last year.

The total income of the bank, for the quarter under review also grew, by 24 percent to Rs. 2,865.8 crore, it said in a regulatory statement.

However, the earnings per share dipped to Rs. 9.94 for the quarter ended March, as against Rs. 11.16 recorded in the previous sequential quarter.

Spiritual leader Sathya Sai Baba passes away on April 24 after a prolonged illness at the Sri Sathya Sai Institute of Higher Medical Sciences



Spiritual leader Sathya Sai Baba died on April 24 after a prolonged illness at the Sri Sathya Sai Institute of Higher Medical Sciences, the institute's Director A N Safaya said in a bulletin.

The godman, who has several followers in India and abroad, was 86. The end came at around 7:40 AM due to cardio-respiratory failure, Safaya said 0in the bulletin.

he baba's body will be shifted to Prasanthi Nilayam, 6 km from the hospital and kept for darshan for two days at a central hall there.
An official communication was issued at around 10 am as the authorities rushed more forces to this small pilgrim town to deal with any eventuality.

Shops and establishments have been ordered to close down in Puttaparthi. AP Chief Minister Kirankumar Reddy and Governor Narasimhan have rushed to Puttparthi.

Doctors at Sathya Sai Super Speciality Hospital, where Sathya Sai Baba was undergoing treatment for the past 26 days, said the Guru passed away due to multiple organ failure. His his vital organs, including heart, liver, kidneys and lungs, were not functioning properly for the past few days.

As the 85-year-old spiritual leader was battling for life, represetnatives of the Andhra Pradesh government Saturday held a meeting with the doctors attending on him and members of Sathya Sai Central Trust.

Src-BS

Monday, April 18, 2011

Delhi Development Authority, DDA Flats Draw List Housing Scheme 2010 Result, Check your application status



DDA-Flats Draw-Results Delhi Development Authority (DDA) had invited the application for 16000 residential flats in year 2010. There was huge response from public for DDA Flats and as a result of it 7,40,000 people applied for the DDA Flats.




HDFC Bank Q4 net up 33% Rs 1,115 cr, Net revenues at Rs 4,096 crore for the quarter ended March 31, 2011, Latest Stock Price



HDFC Bank has reported 33% jump in its fourth quarter net profit at Rs 1,115 crore on the back of higher other income and lower provisioning.

Net revenues (net interest income plus other income) at Rs 4,096 crore for the quarter ended March 31, 2011 increased by 24% over Rs 3,302 crore for the same quarter a year ago, the private sector bank said in a filing to the stock exchanges.

Net interest income (interest earned less interest expended) rose to Rs 2,840 crore, up by 21% over the same quarter a year ago. This was driven by loan growth of 27.1% and a core net interest margin for the quarter of 4.2%.

Income from other operations (non-interest revenues) grew 32% to Rs 1,256 crore during the recently concluded quarter. The main contributor to other income for the quarter was fees and commissions of Rs 1,001 crore, up by 23.2% over Rs 813 crore in the corresponding quarter ended March 31, 2010.

For the year ended March 2011, the bank has reported 32% jump in its consolidated net profit at Rs 3,926 crore, while net interest income grew 26% at Rs 10,618 crore.

The board of HDFC Bank has recommended a dividend of Rs 16.50 per equity share of Rs 10 each (i.e. 165%) out of the net profits for the year ended March 31, 2011, the bank said. The bank had paid a dividend of Rs 12 per share for the year ended March 31, 2010.
The board of directors has also approved the sub-division of one equity share of the bank having a nominal value of Rs 10 each into five equity shares of nominal value of Rs 2 each.


Friday, April 15, 2011

Supreme Petrochem net profit rises 49.57% to Rs 29.57 crore in the quarter ended March 2011 as against Rs 19.77 crore during quarter ended March 2010



Net profit of Supreme Petrochem rose 49.57% to Rs 29.57 crore in the quarter ended March 2011 as against Rs 19.77 crore during the previous quarter ended March 2010. Sales rose 24.18% to Rs 511.75 crore in the quarter ended March 2011 as against Rs 412.10 crore during the previous quarter ended March 2010.

Accel Frontline net profit rises 579.41% to Rs 2.31 crore for quarter ended March 2011 against the previous quarter ended March 2010

Accel Frontline net profit rises 579.41% to Rs 2.31 crore for quarter ended March 2011 against the previous quarter ended March 2010

Accel-Frontline

Net profit of Accel Frontline rose 579.41% to Rs 2.31 crore in the quarter ended March 2011 as against Rs 0.34 crore during the previous quarter ended March 2010. Sales rose 42.16% to Rs 95.89 crore in the quarter ended March 2011 as against Rs 67.45 crore during the previous quarter ended March 2010.

Jay Bharat Maruti net profit rises 82.29% to Rs 38.30 crore in the year ended March 2011 as against Rs 21.01 crore during the previous year



Net profit of Jay Bharat Maruti rose 82.29% to Rs 38.30 crore in the year ended March 2011 as against Rs 21.01 crore during the previous year ended March 2010. Sales rose 32.01% to Rs 1060.29 crore in the year ended March 2011 as against Rs 803.21 crore during the previous year ended March 2010.

Wednesday, April 13, 2011

Thermax to announce FY 2011 results & and to recommend dividend, if any. on May 03, 2011, Latest Stock Price



A meeting of the Board of Directors of Thermax Ltd will be held on May 03, 2011, to consider and approve the audited financial results for the financial year ended March 31, 2011 together with related segment-wise results and to recommend dividend, if any.

Further the Company will be publishing the audited financial results for the financial year ended March 31, 2011 within period of 60 (sixty) days of the close of the accounting year. Hence, the company shall not publish the unaudited financial results for the last quarter.

Mahindra Satyam bags a large Enterprise Resource Planning, ERP contract from Qatar University, the largest academic institution in Qatar



Mahindra Satyam, the brand name of Satyam Computer Services has revealed that it has been awarded a large Enterprise Resource Planning (ERP) contract from Qatar University, the largest academic institution in Qatar. The contract, which will be implemented over a nine-month period, will cover the end-to-end implementation of the Oracle E-Biz Suite R12, which would streamline the various business processes of the university's different departments and provide real time MIS abilities to give management better decision-making.

Qatar University engaged Mahindra Satyam as its partner, given the company's experience in Oracle ERP implementations in Qatar and across the world. The university faced key challenges in the automation and integration of various business functions, which acted as a main hindrance to increase productivity. The implementation of Oracle E-Biz Suite R12 is expected to integrate the different functional areas; ensure visibility and availability of real time MIS; help standardize business processes, create a smoother business work flow and enable better inventory control and optimization.

Development Credit Bank, DCB reported a Q4 profit of Rs.11.34 crores & Rs.21.42 crores for the year ended March 31, 2011, Latest Stock Price



Development Credit Bank Ltd has announced the Financial Results for the Quarter & Year ended March 31, 2011.

The company has reported Total Income of Rs.177.48 crores for the quarter ended March 31, 2011 against Rs.138.92 crores for the quarter ended March 31, 2010.

The Net Profit / (Loss) was at Rs.11.34 crores for the quarter ended March 31, 2011 against (Rs.8.15) crores for the quarter ended March 31, 2010.

The company has reported an EPS of Rs.0.57 for the quarter ended March 31, 2011 as compared to (Rs.0.41) for the quarter ended March 31, 2010.

The company has reported Total Income of Rs.648.36 crores for the year ended March 31, 2011 against Rs.566.49 crores for the year ended March 31, 2010.

The Net Profit / (Loss) was at Rs.21.42 crores for the year ended March 31, 2011 against (Rs.78.45) crores for the year ended March 31, 2010.

The company has reported an EPS of Rs.1.07 for the year ended March 31, 2011 as compared to (Rs.4.25) for the year ended March 31, 2010.

The stock closed the day at Rs.57, up by Rs.7.65 or 15.50% on 13th April. The stock hit an intraday high of Rs.57.60 and low of Rs.49.

The total traded quantity was 105.47 lakhs compared to 2 week average of 8.46 lakhs.

Hindustan Zinc to announce FY 11 results on April 21, 2011 & also recommend dividend, if any, for the year 2010-11, Latest Stock Price


A meeting of the Board of Directors of Hindustan Zinc Ltd will be held on April 21, 2011, to consider and approve the Audited Financial Results for the 4th quarter and year ended March 31, 2011, and also recommend dividend, if any, for the year 2010-11.

The stock closed the day at Rs.145.20, down by Rs.0.70 or 0.48% on 13th April. The stock hit an intraday high of Rs.145.90 and low of Rs.141.55.

The total traded quantity on 13h April was 4.83 lakhs compared to 2 week average of 5.61 lakhs.

Sun Pharma Advanced Research Company (SPARC) hits its upper curcuit on parent pact with Merck, Latest Stock Price



Sun Pharma Advanced Research Company (SPARC) locks to its upper curcuit of 20% on 13th April 2011 to Rs 94.80 after Sun Pharma; the parent company said that a research-oriented listed company will contribute its technology for the Joint Venture (JV) wherever necessary.

"SPARC will contribute its technology and whenever the products of the JV are developed, SPARC will get upfront and milestone payments," said Dilip Shanghvi, chairman and managing director of the company.

On Monday,11th April, Sun Pharma has announced that it is setting up a JV with Merck & Co to develop, manufacture and sell new combination and versions of branded generics in emerging markets.
The emerging markets are expected to drive 90% of the world's pharmaceutical growth, with 75% of that growth will come from sales of brand-name generics, the company said in a filing to the stock exchanges.

Hero Honda declares 3,500% interim dividend of Rs 70 per equity share of Rs 2 each, Latest Stock Price


The country's largest two-wheeler maker Hero Honda today declared a 3,500% interim dividend of Rs 70 per equity share of Rs 2 each.

In its board meeting held on 13th April 2011, the company considered and declared "an interim dividend at the rate of 3,500% that is Rs 70 per equity share of Rs 2 each", Hero Honda said in a filing to the Bombay Stock Exchange (BSE).

The company, however, did not mention how much will be the capital outgo due to this exercises and other details regarding the period for the dividend.

Repeated calls to Chief Financial Officer Ravi Sud and to a company spokesperson remained unanswered.

Reacting sharply, the shares of Hero Honda were trading 6.28% up at Rs 1,742 a piece on the BSE on 13th April.

In March last year, the company declared a Silver Jubilee Special Dividend of 4,000% or Rs 80 per equity share of Rs 2 each.

In 2009, Hero Honda had said it was sitting on a huge cash reserve of over Rs 4,000 crore and the company was looking at many options to use the fund, including special dividend to its shareholders or expanding capacity.

During April-December, 2010, the company's net profit fell by 12.66% to Rs 1,426.29 crore from Rs 1,633.02 crore in the same period previous year.

The total net operating income during the 9-month period increased by 19.36% to Rs 14,010.22 crore from Rs 11,738.19 crore in the year-ago period.

Meanwhile, Hero Honda appointed Toshiyuki Inuma as a Non-Executive Additional Director with effect from April 13.

Besides, the company also approved resignations of its Non-Executive Director Yuji Shiga and Non-Executive and Independent Director Shobhana Bhartia from its board with effect from April 13.

In December last year, the Indian promoter of the two-wheeler maker, the B M Munjal family, had agreed to buyout the entire 26% stake of the Japanese promoter Honda Motor Co in Hero Honda for Rs 3,841.83 crore. The process of Honda exiting the joint venture completed this month.
src-BS

Tuesday, April 12, 2011

Automotive Axles reports net profit of Rs 18.40 crore in the March 2011 quarter



Automotive Axles reported net profit of Rs 18.40 crore in the quarter ended March 2011. Sales reported to Rs 278.14 crore in the quarter ended March 2011. The company has purchased brake manufacturing facilities at Mysore from Kalyani Global Engineering Pvt Ltd on 03 January 2011 and the sales for the current quarter ended March 2011 include the sales related to brake business. Hence, the current quarter ended March 2011 is not comparable to the previous quarter ended March 2010.


Monday, April 11, 2011

Indian drug maker Sun Pharmaceutical tie up with Merck & Co, Stock surges on this news, Latest Stock Price



Indian drug maker Sun Pharmaceutical surged as much as 3% in morning trade on 11th April on BSE and NSE amid news that the company is likely to enter into a marketing tie up with US drug major Merck & Co.

Shares of Sun Pharma touched Rs 455.90, a jump of 3% over its previous closing price on the Bombay Stock Exchange on 11th April

A similar trend was witnessed in National Stock Exchange where the scrip surged by 3% to Rs 454.90 a piece.

The partnership, if announced, would be the second such large scale sales and marketing tie up between a multinational and local drug maker this year after German drug firm Bayer AG announced a joint marketing venture with Ahmedabad-based Cadila Healthcare in January.

This joint venture will focus on developing, manufacturing and commercializing innovative branded generic medicines," Sun Pharma Chairman Dilip Shanghvi said at a news conference.

src-BS


Indian engineering and construction firm Punj Lloyd's unit Sembawang Development buys 50% in Indonesia coal mine



Indian engineering and construction firm Punj Lloyd said on Monday its unit, Sembawang Development, had acquired a 50% stake in a thermal coal mine company in central Kalimantan, Indonesia.

The mining firm holds reserves currently estimated at 134 million tonne, it said in a statement.

Punj did not disclose financial details of the transaction

src-BS

Muthoot Finance Ltd: Company Profile, Promoters, Company Financial, Issue Details, Opening & Closing Dates, Issue Size, IPO Rating



Incorporated in 1997, Muthoot Finance Ltd is the Kerala - based largest gold financing company in India in terms of loan portfolio. Muthoot Finance provides personal and business loans secured by gold jewellery, or Gold Loans. They have 1605 branches across 20 states and two union territories in India.

Company Promoters:
The following individuals are the Promoters of the Company:
1. M.G. George Muthoot;
2. George Thomas Muthoot;
3. George Jacob Muthoot; and
4. George Alexander Muthoot

Company Financials

(in Rs. Million)
31-March-06
Total Income : 1480.62
PAT( Profit After Tax) : 271.27

31-March-07
Total Income : 2339.65
PAT( Profit After Tax) : 439.79

31-March-08
Total Income : 3686.38
PAT( Profit After Tax) : 635.97

31-March-09
Total Income : 6204.02
PAT( Profit After Tax) : 977.20

31-March-10
Total Income : 10893.80
PAT( Profit After Tax) : 2275.75

Issue Detail:

  • Issue Open: Apr 18, 2011 - Apr 21, 2011
  • Issue Type: 100% Book Built Issue IPO
  • Issue Size: 5,150,000 Equity Shares of Rs. 10
  • Issue Size: Rs. 824.00 - 901.25 Crore
  • Face Value: Rs. 10 Per Equity Share
  • Issue Price: Rs160 - Rs175 Per Equity Share
  • Minimum Order Quantity:40 Shares

Muthoot Finance Ltd IPO Grading

CRISIL has assigned an IPO Grade 4 to Muthoot Finance Ltd IPO. This means as per CRISIL, company has 'Above Average Fundamentals'. CRISIL assigns IPO grading on a scale of 5 to 1, with Grade 5 indicating strong fundamentals and Grade 1 indicating poor fundamentals.

Sunday, April 10, 2011

SBI will continue to keep teaser loan scheme: SBI Chairman Pratip Chaudhuri



The newly-appointed SBI Chairman Pratip Chaudhuri on Friday, 8th April said the bank would continue to keep teaser loan scheme, but will review it from time to time.

He said the SBI would address all of RBI's issues on the special home loans and emphasized that the bank would need more provisioning for special home loans.

Chaudhuri also said his focus will be to increase the market share while maintaining profitability by increasing margins and battening down the stressed assets.

In his maiden interaction with the media a day after taking over the mantle of the nation's largest bank that controls over a quarter of the banking business, at the bank headquarters in Mumbai, he said his focus will be on increasing the tenor of the assets which will automatically ramp up margins and thus profitability.

On his challenges ahead as his predecessor OP Bhatt who retired on March 31 had left the bank on a very high note on all fronts, Chaudhuri said, "without being complacent, we will consolidate on our past achievements and at the same time improve upon the stressed areas like NPAs, and growing above the industry average when it comes to topline. We will take all the appropriate measures to ensure that NPAs are brought down to the industry average."

Chaudhuri further said other focus areas would be technology, extending international banking presence, installing more ATMs and opening more physical branches and shoring up manpower.

src-NDTV

Power equipment maker Bharat Heavy Electricals Lt, BHEL has reported a 40 per cent rise in net profit to Rs. 6,021 crore, Latest Stock Price & Comment



Power equipment maker Bharat Heavy Electricals Ltd has reported a 40 per cent rise in net profit to Rs. 6,021 crore in 2010-11 fiscal, driven by technological cost benefits and accounting policy changes.

In the 2009-10 fiscal, it had a profit of Rs. 4,311 crore.

"We had another successful year. The company has taken a number of initiatives. Localisation of technologies, continuous working on supply chain and lower material costs helped in good profit," BHEL's Chairman and Managing Director B Prasada Rao said while announcing its annual results in Mumbai .

The state-run entity’s turnover too witnessed a 27 per cent jump to Rs. 43,451 crore as against Rs. 34,154 crore in 2009-10 period.

BHEL's shareholders have been paid an interim dividend of 132.5 per cent while the earnings per share in the previous fiscal climbed to Rs. 123 per share.

However, when it comes to their new order book in 2010-11, it have not seen any growth and remained at Rs. 60,000 crore.

Seeing big dependence on power business BHEL is planning to expand its non power business.

And as a major power equipment manufacturer in Asia, BHEL is also talking to Japan for supplying equipment for gas power plants. BHEL expects that post the nuclear disaster due to tsunami Gas based power plants will be in demand as it can be built much sooner and easily and is much safer.

BHEL as a standalone equipment manufacturer is not registered a supplier to Japan, specially the gas plant equipments. But BHEL's tie-up with GE may give it the required entry to Japanese market.

However, entering the Japanese market is not what is important. But what is more important here is the fact that it would be an Indian co that can help Japanese in their difficulty times.



Taking a home loan? Beware of these facts : Some Important Points



A bank is eligible to demand additional security when property prices fall. Even if you are loyal on your EMI payments, this clause demands a security cover in addition to your loan amount and if a borrower fails to provide such a security then he/ she may be declared a defaulter by the lender.

Sameer Tiwari, a Pune based mechanical engineer, thought he had made a “prudent decision” by opting for a fixed rate EMI when he took his home loan five years ago from a reputed national bank.

Three years after the date of disbursement, Sameer received a letter, which said it was time for renewal of his loan and that the interest on his fixed home loan had been increased by 0.5 per cent. Though this did not mean a change in the actual EMI he paid, this would however reflect first on his loan tenure, which would be increased to accommodate the interest change. On checking with the bank, he learned that there was a clause in the agreement that said the fixed rate was only for a period of three years and not for the entire loan tenure!

This letter brought endless, sleepless nights to Sameer and his family now, they had to recalculate and replan all their income sources and planned expenses because the “fixed EMIs (Equated Monthly Instalments)” will increase!

What is a loan agreement?

A loan agreement is a ‘contract’ entered into between the borrower and the lender (banks and financial institutions) that regulates the terms of a loan. The loan agreement comes into picture immediately after the bank appraises your credit and the property that you have identified.

The agreement and the fine prints…

In the euphoria to acquire that dream house, various clauses in the loan agreement are often overlooked. However, these clauses have a significant bearing on areas ranging from interest rates to repayment schedules. Reading home loan agreements is generally viewed as a sheer formality and one always tends to ignore points that the agreement mentions. Moreover, the legal language used in the document often seems more alien than human!

In any case, not reading a loan agreement thoroughly can land you in a soup. Here are some clauses, which should be searched for inside a loan agreement and be clarified with your HFC (Housing Finance Company):

Reset Clause on Fixed Rates: Banks have introduced the reset clause in their fixed rate, home loan agreements so that they can increase interest rates in case the market rates increase in future. This effectively makes fixed rate loans equivalent to floating rate ones. This gives the banks an escape from interest rate surges but is a disadvantage for the borrower who is mostly unaware about such content in their agreement. Typically, the period for such reset clause varies from two to five years depending on the bank or housing finance company you borrow from. So read this clause in your loan agreement carefully.

Force Majeure Clause: There may be certain loopholes in your home loan agreement that allows the bank or home loan company to unfix and raise the fixed interest rate under exceptional circumstances. This will be mentioned under the ‘force majeure’ clause of your agreement. However, the differentiation between ‘exceptional circumstances’ and normal circumstances is always a tough task.

For e.g. A cut in banks’ prime lending rate is not automatically translating into reduction of all PLR-linked loan rates. The reason being cited is that the bank’s margins are under severe stress due to lending rate cuts. They feel interest rates on some existing sub-PLR loans do not even cover their cost of funds and any further fall in those sub-PLR loans will worsen the matter. Therefore, some public sector banks have revised the existing loan contracts in case of select sub-PLR borrowers, by using the ‘force majeure’ clause, meaning a ‘situation beyond control’.

Defining a Fault: A ‘fault’ for a layman often means a non-payment of an EMI during the loan tenure. However, your bank or HFC may have a different meaning for this term. The home loan agreement of few banks defines fault as a case when the borrower expires, the borrower is divorced (in case of more than a single borrower), or the borrower is/are involved in any civil litigation or criminal offence. Therefore, you must be clear what your lender means by the term ‘fault’.

Security cover at times of falling property rates: This clause states that a bank is eligible to demand additional security when property prices fall. Even if you are loyal on your EMI payments, this clause demands a security cover in addition to your loan amount and if a borrower fails to provide such a security then he/ she may be declared a defaulter by the lender.

Floating is Fixed and vice versa: Floating rate as well as fixed rate home loans are linked to the Benchmark Prime Lending Rate of a bank or the HFC from which you take a home loan. Hence, if the BPLR is 13.5 per cent and floating rate home loans are at a discount of 1.5 per cent to the BPLR, then the interest rate on a floating rate home loan is 12 per cent. So whenever the BPLR is raised, then the interest to be paid on the floating rate home loan goes up. The vice versa also holds true.

However, banks and HFCs do not show the same alacrity to reduce the interest rates, which they might have shown when increasing it. When interest rates come down, banks and HFCs offer lower rates to new customers but existing customers continue paying the higher interest rates. Check with the bank or HFC regarding the details about such clauses.

These clauses are overlooked by most home loan borrowers and some of them eventually end up paying interest rates, fees, or hidden charges completely out of the blue. It is imperative that you have a thorough understanding of such clauses with your bank or HFC.

src-msn

Thursday, April 7, 2011

Hold NTPC; target of Rs 216: PINC Research, Latest Stock Price & Expert Comments



PINC Research has recommended hold rating on NTPC with a target of Rs 216, in its April 7, 2011 research report.

“During FY11 NTPC commissioned 2,490MW against its revised target of 3,150MW – in line with CEA’s estimate. During Q4FY11 the company commercialised 500MW each at Jhajjar and Korba, commissioned 500MW each at Farakka and Simhadri and synchronized 660MW at Sipat. With the commissioning of these projects, NTPC’s installed capacity increased to 34.2GW. NTPC plans to add 4,320MW during FY12. Contrary to NTPC’s target addition of 4,320MW during FY12, CEA’s latest document suggests NTPC shall be able to add only 3,000MW. NTPC plans to commission 1,320MW at Sipat, 1,000MW each at Jhajjar and Vallur and 500MW each at Simhadri and Mouda during the year. As of now we factor in an addition of 4,320MW, in line with the company’s target. NTPC currently has 14.7GW under construction which is expected to commission during the XIIth Plan.”

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Wednesday, April 6, 2011

GoM to decide on Cairn-Vedanta deal: Cabinet Committee on Economic Affairs (CCEA), Latest stock price of Cairn India



Casting fresh doubt over Vedanta Resources' acquisition of a majority stake in Cairn India in a USD 9.6 billion deal, the Cabinet Committee on Economic Affairs (CCEA) has referred to a group of ministers to be headed by finance minister Pranab Mukhrejee. Hopeful that the GoM will make an early decision, Vedanta said, "The open offer documents have been mailed and we will go with the offer as scheduled." The offer can't thus be withdrawn.

Vedanta's open offer is scheduled to open on April 11 and close on April 30. And, this provides a window to Vedanta to extend the April 15 deadline. Under the Indian Takeover Code the parent transaction cannot take place until the open offer is complete for the minority shareholders, thus giving the two parties more time to seek extension of deadline from shareholders.

However, analyst SP Tulsian of sptulsian.com feels it is not right on part of the London-listed company to go on with the offer. "It will mean mockery of the public-listed company. Moreover, this will be a big negative for minority shareholders," he stated.

In response to this development, Cairn's spokesperson said, "Cairn and Vedanta continue to work with the Government of India to secure the necessary consents and approvals."

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Dr.Kisan Baburao Hazare known as Anna Hazare : Biography, Arrests, Lokpal Bill Movement, Awards & Contribution



Dr.Kisan Baburao Hazare, popularly known as Anna Hazare (b. June 15, 1938), is an Indian social activist who is especially recognized for his contribution to the development of Ralegan Siddhi, a village in Ahmednagar district, Maharashtra, India and his efforts for establishing it as a model village, for which he was awarded the Padma Bhushan by Govt. of India, in 1992. On April 5, 2011, he has started a fast unto death to make a pressure on union government to enact Lokpal Bill a law on Lokpal that deals with corruption in public offices.

Arrest

Anna Hazare was arrested in 1998 during Shiv Sena-BJP rule in Maharashtra when a defamation suit was filed against him by then Maharashtra Social Welfare minister Babanrao Golap of Shiv Sena. He was released following public uproar.

Lokpal Bill movement

The movement attracted attention very quickly through various media. It has been reported that thousands of people joined to support Mr. Hazare's effort. Almost 150 people are reported to join Mr. Hazare in his fast.[2]He said that he would not allow any politician to sit with him in this movement. Many social activists including Medha Patkar, Arvind Kejriwal and former IPS officer Kiran Bedi have lent their support to Hazare's hunger strike and anti-corruption campaign.

Awards

  • Padmashree award by government of India in the year 1990
  • Indira Priyadarshini Vrikshamitra award, by government of India on November 19, 1986 from the hands of Prime Minister of India Rajiv Gandhi.
  • Krishi Bhushana award by Maharashtra government in 1989.
  • Felicitation by Ahmednagar Municipal Corporation 15 January 1987
  • Felicitation by Pune Municipal Corporation.
  • On April 15, 2008, Kisan Baburao Hazare received the World Bank's 2008 Jit Gill Memorial Award for Outstanding Public Service: "Hazare created a thriving model village in Ralegan Siddhi, in the impoverished Ahmednagar region of Maharashtra state, and championed the right to information and the fight against corruption.
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Outsourcer Genpact Ltd agreed to buy Headstrong Corp, a provider of consulting and IT services, for $550 million


The business process and technology services provider, which in February forecast disappointing 2011 revenue growth of 10-13 percent, expects Headstrong to have a long-term growth rate of over 20 percent a year, it said.

Genpact sees the deal, expected to close by May 31, adding to 2011 earnings.

Headstrong, which was founded in 1981 and has centers in India and Manila with a global headcount of 3,700, generated 2010 revenue of about $217 million, Genpact said in a statement.

Headstrong focuses on financial services and helps clients manage customer relationships and business processes like help desks.

The deal would be funded through existing cash and financing. Genpact had cash and cash equivalents of $404 million at the end of 2010.

Genpact was started in 1997 as the India-based business process services unit of GE Capital, General Electric Co's financial services business. GE, which spun off Genpact in 2005, remains Genpact's largest client and contributed 38 percent to its 2010 revenue.

Citigroup Global Markets Inc and UBS Securities acted as the financial advisers to Genpact in this transaction while Cravath, Swaine & Moore were outside legal counsel.

Shares of Genpact, which have shed nearly a fifth of their value over the last six months, closed at $14.76 on Tuesday, 06th April on the New York Stock Exchange.

Tuesday, April 5, 2011

Alok Industries Ltd. Latest Share Price, Alok Industries Ltd. rised 11.66% today, Alok Industries Ltd. BSE & NSE Share Price

Alok Industries Ltd. Latest Share Price, Alok Industries Ltd. rised 11.66% today, Alok Industries Ltd. BSE & NSE Share Price
About Alok Industries
Alok was established in 1986 as a private limited company, with our first polyester texturising plant being set up in 1989. We became a public limited company in 1993. Over the years, we have expanded into weaving, knitting, processing, home textiles and garments. And to ensure quality and cost efficiencies we have integrated backward into cotton spinning and manufacturing partially oriented yarn through the continuous polymerisation route. We also provide embroidered products through Grabal Alok Impex Ltd., our associate company.

BSE
Price Information
Prev. close-23.15
Open Price-23.20
Volume-11,420,693
Day's High-26.15
Day's Low-23.15
52 Week's High-35.00
52 Week's Low-17.75

NSE
Price Information
Prev. close-23.15
Open Price-23.30
Volume-41,051,802
Day's High-26.20
Day's Low-23.00
52 Week's High-35.00
52 Week's Low-17.80


Monday, April 4, 2011

An earthquake struck on Monday, 4th April in North India and its effect was felt in Delhi, Ghaziabad, and Noida also.


NEW DELHI: An earthquake struck on Monday in North India and its effect was felt in Delhi, Ghaziabad, and Noida also.

Tremors were felt across north India, including Delhi, Noida, Ghaziabad, following a 5.7-magnitude earthquake with its epicentre at the India-Nepal border on Monday evening.

"The epicentre was at the India-Nepal border," said an official of the India Meteorological Department.

A meteorological official said the tremors were felt at 5.02 p.m.

There is no report of any human loss or damage to property.

Sunday, April 3, 2011

Shilpi Cable Technologies Limited IPO Allotment status - Enter your application number to check the allotment status

Shilpi Cable Technologies Limited IPO Allotment status - Enter your application number to check the allotment status


Incorporated in 2006, Shilpi Cable Technologies Limited is engaged in the business of manufacturing Radio frequency (RF) cables, widely used in telecom, automobile and power sectors. Company’s factory is located in Chopanki, Bhiwadi, Tehsil-Tijara, Dist. Alwar, Rajasthan.



Man of the Series of World Cup 2011, ICC Cricket World Cup 2011 Final Photos, Pictures, Wallpapers, India World Champions, India World Champions

Man of the Series of World Cup 2011, ICC Cricket World Cup 2011 Final Photos, Pictures, Wallpapers, India World Champions, India World Champions



Man of the Series of World Cup 2011

For Sachin's Its Dream Come True



"THE WORLD CHAMPIONS"

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