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Sensex consolidates; HUL down 1% ahead of results

Written By Unknown on Senin, 29 April 2013 | 14.02

12:27

Moneycontrol Bureau
Key equity benchmarks consolidated in the afternoon trade tracking positive regional shares. Asian shares inched ahead while the dollar lost ground as investors counted on easy money from central banks in the euro zone and United States to offset the risk of further disappointment from global economic data, reported Reuters.

The Sensex was up 21 points at 19307, and the Nifty was up 6 points at 5877. The breadth of the market was neutral. About 1051 shares advanced, 961 shares declined, and 1658 shares remain unchanged.

Stocks of auto, power, PSU and realty sectors were leading from the front. Metal stocks were trading sluggish. The action was mainly seen in stocks which have either declared the results or will declare them today.

Shares in Hero MotoCorp rose 3.6 percent after the company's January-March operating profit margins beat street estimates for the first time in six quarters.

Buying activity also triggered in Maruti Suzuki which came out with better-than-expected earnings on Friday. Stocks of country's largest car maker rose 1.77 per cent to Rs 1,703 after company reported 79.4 per cent jump in its standalone net profit for the quarter ended March 31 at Rs 1,147.5 crore.

ICICI Bank was also up 1 percent today after the hammering it received on Friday post results. FMCG major HUL is down 1 percent ahead of its earnings today. The stock has lost more than 12 percent so far this year.

Jindal Steel, Ambuja Cements, ACC, NMDC and Axis Bank were major laggards in the Nifty.

Key gainers in the broader markets were Indian Infotech, Coromandel International, Sun Pharma Advanced, TTK Prestige and Infotech Enterprises, up between 4-14 percent.

Laggards included Delta Corp, Bajaj Finance, Federal Bank, Parsvnath and NBCC, down 3-6 percent.

Ruchi Soya shares were up nearly 4 percent post joint venture announcement with Kagome and Mitsui

In the currency market, the rupee was trading at 54.30 per dollar. Gold was trading flat at Rs 27158 per 10 grams.



14.02 | 0 komentar | Read More

HUL falls ahead of Q4 earnings; volume growth key

Shares in Hindustan Unilever Ltd ( HUL ), India's largest consumer goods maker, fell 1.6 percent ahead of the company's quarterly earnings later in the day.

Dealers say expectations are that the company's volumes would dip for the fourth straight quarter.

Analysts expect HUL's Jan-March volume growth to range from 5 percent to 5.5 percent.

The company took price cuts in the previous quarter due to increasing competition and a slowdown in consumer spending, said dealers.



14.02 | 0 komentar | Read More

Factors that will drive Sterlite's Q4 nos

Moneycontrol Bureau

Diversified mining major Sterlite Industries is expected to put up a good show in the March quarter, boosted by higher output from Hindustan Zinc, which is also considered the company's main profit driver

According to a CNBC-TV18 poll, Sterlite may post 15.3 percent year-on-year jump in Q4 profit to Rs 1472 crore of which Rs 1400 crore is expected to come from Hind Zinc. Sales are likely to climb 4 percent to Rs 11190 crore on higher output. EBITDA is seen going down 10 percent to Rs 2675 crore.

Factors that are likely to boost Sterlite's topline

-Excellent Performance by Hind Zinc due to higher sales volume and realisation

-Copper cathode production has grown 7.5 percent to 86k tonne, against street expectation of 82k tons

-Sterlite energy power volumes may increase on account of higher excavation capacity and will partially benefit from the new transmission line

-Aluminum production from Balco as expected came in flat at 62k tons

Key issues to watch out

* Sterlite's 600x3 megawatt capacity continues to operate at around 50 percent plant load factors (PLF) due to evacuation problems

*Has 1,800mw of evacuation capacity but power grid has restricted the evacuation due to power outage in the region

*Partial relief due to commissioning of a new transmission line

Its associate company, Vedanta Aluminum Ltd has shut its Lanjigarh refinery since December 2012 and is not expected to restart operations till secured supply of bauxite is established.

Tuticorin Copper Smelter Update :  Sterlite was ordered to shut its smelter in Tuticorin on 30 March after residents complained of emissions that resulted in breathing difficulties.



14.02 | 0 komentar | Read More

Moneycontrol Latest News

Written By Unknown on Minggu, 28 April 2013 | 14.02

Moneycontrol Latest NewsMoneycontrol LogoBuy Axis Bank; target of Rs 1635: AnandRathiBuy Petronet LNG; target of Rs 185: PLilladherBuy Mahindra Holidays; target of Rs 332: PLilladherBuy United Phosphorous; target of Rs 185: PLilladherRaymond: 88th Annual General Meeting to be held on June 72 workmen killed in explosion at Gulf Oil's Hyderabad factoryCinemax Properties: Rashmi Shah resigns as company secretary compliance officerRaymond recommends dividend of Re 1/shWockhardt redeems preference sharesState Bank of Travancore declares final dividend of Rs 3/shRushil Decor to consider final dividend on May 7Associated Finlease to consider change in object clause of MoA on May 3Polaris recommends final dividend of Rs 5/shPNB Gilts: P K Chhokra resigns from directorshipNagarjuna Agrichem approves bonus issue

Latest News from Moneycontrol.com http://www.moneycontrol.com Sat, 27 Apr 2013 23:50:01 +0530 Moneycontrol.com http://img1.moneycontrol.com/images/top2010/moneycontrol_logo.jpg http://www.moneycontrol.com Feed provided by Moneycontrol. http://www.moneycontrol.com/news/recommendations/buy-axis-bank-targetrs-1635-anandrathi_860484.html <img src="http://www.moneycontrol.com/news_image_files/2012/i/india_axis_bank_16_190_190.jpg" alt="Buy Axis Bank; target of Rs 1635: AnandRathi" title="Buy Axis Bank; target of Rs 1635: AnandRathi" border="0" width="75" height="75" align=" left" hspace="5"/> AnandRathi is bullish on Axis Bank and has retained buy rating on the stock with a target of Rs 1635 in its April 25, 2013 research report. Sat, 27 Apr 2013 19:18:26 +0530 http://www.moneycontrol.com/news/recommendations/buy-axis-bank-targetrs-1635-anandrathi_860484.html http://www.moneycontrol.com/news/recommendations/buy-petronet-lng-targetrs-185-plilladher_860485.html <img src="http://www.moneycontrol.com/news_image_files/Petronet-LNG-190.jpg" alt="Buy Petronet LNG; target of Rs 185: PLilladher" title="Buy Petronet LNG; target of Rs 185: PLilladher" border="0" width="75" height="75" align=" left" hspace="5"/> Prabhudas Lilladher is bullish on Petronet LNG and has recommended buy rating on the stock with a target of Rs 185 in its April 25, 2013 research report. Sat, 27 Apr 2013 19:16:45 +0530 http://www.moneycontrol.com/news/recommendations/buy-petronet-lng-targetrs-185-plilladher_860485.html http://www.moneycontrol.com/news/recommendations/buy-mahindra-holidays-targetrs-332-plilladher_860486.html <img src="http://www.moneycontrol.com/news_image_files/mahindra_holiday_190.jpg" alt="Buy Mahindra Holidays; target of Rs 332: PLilladher" title="Buy Mahindra Holidays; target of Rs 332: PLilladher" border="0" width="75" height="75" align=" left" hspace="5"/> Prabhudas Lilladher is bullish on Mahindra Holidays and Resorts India and has recommended a buy rating on the stock with a target of Rs 332 in its April 25, 2013 research report. Sat, 27 Apr 2013 19:15:45 +0530 http://www.moneycontrol.com/news/recommendations/buy-mahindra-holidays-targetrs-332-plilladher_860486.html http://www.moneycontrol.com/news/recommendations/buy-united-phosphorous-targetrs-185-plilladher_860490.html <img src="http://www.moneycontrol.com/news_image_files/Fertilisers_new1_190.jpg" alt="Buy United Phosphorous; target of Rs 185: PLilladher" title="Buy United Phosphorous; target of Rs 185: PLilladher" border="0" width="75" height="75" align=" left" hspace="5"/> Prabhudas Lilladher is bullish on United Phosphorous and has recommended a buy rating on the stock with a target of Rs 185 in its April 25, 2013 research report. Sat, 27 Apr 2013 19:14:41 +0530 http://www.moneycontrol.com/news/recommendations/buy-united-phosphorous-targetrs-185-plilladher_860490.html http://www.moneycontrol.com/news/announcements/raymond-88th-annual-general-meeting-to-be-heldjune-7_860645.html <img src="http://www.moneycontrol.com/news_image_files/bse_corporate_announcment_190.jpg" alt="Raymond: 88th Annual General Meeting to be held on June 7" title="Raymond: 88th Annual General Meeting to be held on June 7" border="0" width="75" height="75" align=" left" hspace="5"/> Raymond Ltd has informed BSE that the 88th Annual General Meeting (AGM) of the Company will be held on June 07, 2013 at the Registered Office of the Company. Sat, 27 Apr 2013 19:12:21 +0530 http://www.moneycontrol.com/news/announcements/raymond-88th-annual-general-meeting-to-be-heldjune-7_860645.html http://www.moneycontrol.com/news/announcements/2-workmen-killedexplosion-at-gulf-oils-hyderabad-factory_860644.html <img src="http://www.moneycontrol.com/news_image_files/bse_corporate_announcment2.jpg" alt="2 workmen killed in explosion at Gulf Oil's Hyderabad factory" title="2 workmen killed in explosion at Gulf Oil's Hyderabad factory" border="0" width="75" height="75" align=" left" hspace="5"/> Gulf Oil said in explosion at Hyderabad factory killed 2 workmen on April 25 and other operations in factory continued normally Sat, 27 Apr 2013 19:12:19 +0530 http://www.moneycontrol.com/news/announcements/2-workmen-killedexplosion-at-gulf-oils-hyderabad-factory_860644.html http://www.moneycontrol.com/news/announcements/cinemax-properties-rashmi-shah-resigns-as-company-secretarycompliance-officer_860643.html <img src="http://www.moneycontrol.com/news_image_files/bse_corporate_announcment1_190.jpg" alt="Cinemax Properties: Rashmi Shah resigns as company secretary compliance officer" title="Cinemax Properties: Rashmi Shah resigns as company secretary compliance officer" border="0" width="75" height="75" align=" left" hspace="5"/> Cinemax Properties Ltd has informed BSE that Mrs. Rashmi Shah has resigned from the post of Company Secretary Compliance Officer from the close of working hours of April 19, 2013. Sat, 27 Apr 2013 19:12:17 +0530 http://www.moneycontrol.com/news/announcements/cinemax-properties-rashmi-shah-resigns-as-company-secretarycompliance-officer_860643.html http://www.moneycontrol.com/news/announcements/raymond-recommends-dividendre-1sh_860642.html <img src="http://www.moneycontrol.com/news_image_files/bse_corporate_announcment1_190.jpg" alt="Raymond recommends dividend of Re 1/sh" title="Raymond recommends dividend of Re 1/sh" border="0" width="75" height="75" align=" left" hspace="5"/> Raymond Ltd has informed BSE that the Board of Directors of the Company at its meeting held on April 26, 2013, has recommended a dividend 10% (Re. 1.00 per share) on the Equity Share Capital for the year 2012-13. The dividend if approved by the shareholders, will be paid on or after June 08, 2013. Sat, 27 Apr 2013 19:12:15 +0530 http://www.moneycontrol.com/news/announcements/raymond-recommends-dividendre-1sh_860642.html http://www.moneycontrol.com/news/announcements/wockhardt-redeems-preference-shares_860641.html <img src="http://www.moneycontrol.com/news_image_files/bse_corporate_announcment2.jpg" alt="Wockhardt redeems preference shares" title="Wockhardt redeems preference shares" border="0" width="75" height="75" align=" left" hspace="5"/> Wockhardt Ltd has informed BSE that the Company had issued OCCRPS - 2, which were optionally convertible on or after July 4, 2016 and if not converted were to be redeemed on December 31, 2018.

Pursuant to the modification in the terms of the said OCCRPS- 2, the Company has redeemed 116,539,748 OCCRPS -2. Sat, 27 Apr 2013 19:12:13 +0530 http://www.moneycontrol.com/news/announcements/wockhardt-redeems-preference-shares_860641.html http://www.moneycontrol.com/news/announcements/state-banktravancore-declares-final-dividendrs-3sh_860640.html <img src="http://www.moneycontrol.com/news_image_files/bse_corporate_announcment2.jpg" alt="State Bank of Travancore declares final dividend of Rs 3/sh" title="State Bank of Travancore declares final dividend of Rs 3/sh" border="0" width="75" height="75" align=" left" hspace="5"/> State Bank of Travancore has informed BSE that the Board of Directors of the Bank at its meeting held on April 26, 2013, inter alia, has declared a final dividend of Rs. 3/- per share (Face Value of Rs. 10/-) for the year 2012-13, in addition to the interim dividend of Rs. 17/- per share declared in March 2013. Sat, 27 Apr 2013 19:12:10 +0530 http://www.moneycontrol.com/news/announcements/state-banktravancore-declares-final-dividendrs-3sh_860640.html http://www.moneycontrol.com/news/announcements/rushil-decor-to-consider-final-dividendmay-7_860622.html <img src="http://www.moneycontrol.com/news_image_files/bse_corporate_announcment1_190.jpg" alt="Rushil Decor to consider final dividend on May 7" title="Rushil Decor to consider final dividend on May 7" border="0" width="75" height="75" align=" left" hspace="5"/> Rushil Decor Ltd has informed BSE that a meeting of the Board of Directors of the Company will be held on May 07, 2013, for the purpose of recommendation of final dividend, if any, for the financial year ending March 31, 2013; and consideration and taking on record the Audited Financial Results for Quarter and Financial Year ended March 31, 2013 Sat, 27 Apr 2013 19:00:05 +0530 http://www.moneycontrol.com/news/announcements/rushil-decor-to-consider-final-dividendmay-7_860622.html http://www.moneycontrol.com/news/announcements/associated-finlease-to-consider-changeobject-clausemoamay-3_860621.html <img src="http://www.moneycontrol.com/news_image_files/bse_corporate_announcment_190.jpg" alt="Associated Finlease to consider change in object clause of MoA on May 3" title="Associated Finlease to consider change in object clause of MoA on May 3" border="0" width="75" height="75" align=" left" hspace="5"/> Associated Finlease has informed BSE that a meeting of the Board of Directors of the Company will be held on May 03, 2013, to consider and approve the following: To Alter the object clause of the Memorandum of Association of the Company. 2. To consider other business if any. Sat, 27 Apr 2013 19:00:04 +0530 http://www.moneycontrol.com/news/announcements/associated-finlease-to-consider-changeobject-clausemoamay-3_860621.html http://www.moneycontrol.com/news/announcements/polaris-recommends-final-dividendrs-5sh_860620.html <img src="http://www.moneycontrol.com/news_image_files/bse_corporate_announcment1_190.jpg" alt="Polaris recommends final dividend of Rs 5/sh" title="Polaris recommends final dividend of Rs 5/sh" border="0" width="75" height="75" align=" left" hspace="5"/> Polaris Financial Technology Ltd has informed BSE that the Board of Directors of the Company at its meeting held on April 27, 2013, inter alia, has recommended a final dividend of Rs. 5 per share to its share holders inducted Mr. V. Balaraman as additional director to the board. Sat, 27 Apr 2013 19:00:01 +0530 http://www.moneycontrol.com/news/announcements/polaris-recommends-final-dividendrs-5sh_860620.html http://www.moneycontrol.com/news/announcements/pnb-gilts-p-k-chhokra-resignsdirectorship-_860619.html <img src="http://www.moneycontrol.com/news_image_files/bse_corporate_announcment_190.jpg" alt="PNB Gilts: P K Chhokra resigns from directorship " title="PNB Gilts: P K Chhokra resigns from directorship " border="0" width="75" height="75" align=" left" hspace="5"/> PNB Gilts Ltd has informed BSE that Shri P. K. Chhokra has resigned from the Directorship of the Company effective from March 31, 2013. The said resignation has been accepted by the Board of Directors in its meeting held on April 27, 2013. Sat, 27 Apr 2013 18:59:59 +0530 http://www.moneycontrol.com/news/announcements/pnb-gilts-p-k-chhokra-resignsdirectorship-_860619.html http://www.moneycontrol.com/news/announcements/nagarjuna-agrichem-approves-bonus-issue_860618.html <img src="http://www.moneycontrol.com/news_image_files/bse_corporate_announcment2.jpg" alt="Nagarjuna Agrichem approves bonus issue" title="Nagarjuna Agrichem approves bonus issue" border="0" width="75" height="75" align=" left" hspace="5"/> Nagarjuna Agrichem decided to issue bonus shares in the ratio of 3 equity shares for every 14 shares held by public shareholders in the company on the record date to be determined by the share committee /managing director of the company, for the purpose. Sat, 27 Apr 2013 18:59:57 +0530 http://www.moneycontrol.com/news/announcements/nagarjuna-agrichem-approves-bonus-issue_860618.html

Moneycontrol Latest NewsMoneycontrol LogoBuy Axis Bank; target of Rs 1635: AnandRathiBuy Petronet LNG; target of Rs 185: PLilladherBuy Mahindra Holidays; target of Rs 332: PLilladherBuy United Phosphorous; target of Rs 185: PLilladherRaymond: 88th Annual General Meeting to be held on June 72 workmen killed in explosion at Gulf Oil's Hyderabad factoryCinemax Properties: Rashmi Shah resigns as company secretary compliance officerRaymond recommends dividend of Re 1/shWockhardt redeems preference sharesState Bank of Travancore declares final dividend of Rs 3/shRushil Decor to consider final dividend on May 7Associated Finlease to consider change in object clause of MoA on May 3Polaris recommends final dividend of Rs 5/shPNB Gilts: P K Chhokra resigns from directorshipNagarjuna Agrichem approves bonus issue

Latest News from Moneycontrol.com http://www.moneycontrol.com Sat, 27 Apr 2013 23:50:01 +0530 Moneycontrol.com http://img1.moneycontrol.com/images/top2010/moneycontrol_logo.jpg http://www.moneycontrol.com Feed provided by Moneycontrol. http://www.moneycontrol.com/news/recommendations/buy-axis-bank-targetrs-1635-anandrathi_860484.html <img src="http://www.moneycontrol.com/news_image_files/2012/i/india_axis_bank_16_190_190.jpg" alt="Buy Axis Bank; target of Rs 1635: AnandRathi" title="Buy Axis Bank; target of Rs 1635: AnandRathi" border="0" width="75" height="75" align=" left" hspace="5"/> AnandRathi is bullish on Axis Bank and has retained buy rating on the stock with a target of Rs 1635 in its April 25, 2013 research report. Sat, 27 Apr 2013 19:18:26 +0530 http://www.moneycontrol.com/news/recommendations/buy-axis-bank-targetrs-1635-anandrathi_860484.html http://www.moneycontrol.com/news/recommendations/buy-petronet-lng-targetrs-185-plilladher_860485.html <img src="http://www.moneycontrol.com/news_image_files/Petronet-LNG-190.jpg" alt="Buy Petronet LNG; target of Rs 185: PLilladher" title="Buy Petronet LNG; target of Rs 185: PLilladher" border="0" width="75" height="75" align=" left" hspace="5"/> Prabhudas Lilladher is bullish on Petronet LNG and has recommended buy rating on the stock with a target of Rs 185 in its April 25, 2013 research report. Sat, 27 Apr 2013 19:16:45 +0530 http://www.moneycontrol.com/news/recommendations/buy-petronet-lng-targetrs-185-plilladher_860485.html http://www.moneycontrol.com/news/recommendations/buy-mahindra-holidays-targetrs-332-plilladher_860486.html <img src="http://www.moneycontrol.com/news_image_files/mahindra_holiday_190.jpg" alt="Buy Mahindra Holidays; target of Rs 332: PLilladher" title="Buy Mahindra Holidays; target of Rs 332: PLilladher" border="0" width="75" height="75" align=" left" hspace="5"/> Prabhudas Lilladher is bullish on Mahindra Holidays and Resorts India and has recommended a buy rating on the stock with a target of Rs 332 in its April 25, 2013 research report. Sat, 27 Apr 2013 19:15:45 +0530 http://www.moneycontrol.com/news/recommendations/buy-mahindra-holidays-targetrs-332-plilladher_860486.html http://www.moneycontrol.com/news/recommendations/buy-united-phosphorous-targetrs-185-plilladher_860490.html <img src="http://www.moneycontrol.com/news_image_files/Fertilisers_new1_190.jpg" alt="Buy United Phosphorous; target of Rs 185: PLilladher" title="Buy United Phosphorous; target of Rs 185: PLilladher" border="0" width="75" height="75" align=" left" hspace="5"/> Prabhudas Lilladher is bullish on United Phosphorous and has recommended a buy rating on the stock with a target of Rs 185 in its April 25, 2013 research report. Sat, 27 Apr 2013 19:14:41 +0530 http://www.moneycontrol.com/news/recommendations/buy-united-phosphorous-targetrs-185-plilladher_860490.html http://www.moneycontrol.com/news/announcements/raymond-88th-annual-general-meeting-to-be-heldjune-7_860645.html <img src="http://www.moneycontrol.com/news_image_files/bse_corporate_announcment_190.jpg" alt="Raymond: 88th Annual General Meeting to be held on June 7" title="Raymond: 88th Annual General Meeting to be held on June 7" border="0" width="75" height="75" align=" left" hspace="5"/> Raymond Ltd has informed BSE that the 88th Annual General Meeting (AGM) of the Company will be held on June 07, 2013 at the Registered Office of the Company. Sat, 27 Apr 2013 19:12:21 +0530 http://www.moneycontrol.com/news/announcements/raymond-88th-annual-general-meeting-to-be-heldjune-7_860645.html http://www.moneycontrol.com/news/announcements/2-workmen-killedexplosion-at-gulf-oils-hyderabad-factory_860644.html <img src="http://www.moneycontrol.com/news_image_files/bse_corporate_announcment2.jpg" alt="2 workmen killed in explosion at Gulf Oil's Hyderabad factory" title="2 workmen killed in explosion at Gulf Oil's Hyderabad factory" border="0" width="75" height="75" align=" left" hspace="5"/> Gulf Oil said in explosion at Hyderabad factory killed 2 workmen on April 25 and other operations in factory continued normally Sat, 27 Apr 2013 19:12:19 +0530 http://www.moneycontrol.com/news/announcements/2-workmen-killedexplosion-at-gulf-oils-hyderabad-factory_860644.html http://www.moneycontrol.com/news/announcements/cinemax-properties-rashmi-shah-resigns-as-company-secretarycompliance-officer_860643.html <img src="http://www.moneycontrol.com/news_image_files/bse_corporate_announcment1_190.jpg" alt="Cinemax Properties: Rashmi Shah resigns as company secretary compliance officer" title="Cinemax Properties: Rashmi Shah resigns as company secretary compliance officer" border="0" width="75" height="75" align=" left" hspace="5"/> Cinemax Properties Ltd has informed BSE that Mrs. Rashmi Shah has resigned from the post of Company Secretary Compliance Officer from the close of working hours of April 19, 2013. Sat, 27 Apr 2013 19:12:17 +0530 http://www.moneycontrol.com/news/announcements/cinemax-properties-rashmi-shah-resigns-as-company-secretarycompliance-officer_860643.html http://www.moneycontrol.com/news/announcements/raymond-recommends-dividendre-1sh_860642.html <img src="http://www.moneycontrol.com/news_image_files/bse_corporate_announcment1_190.jpg" alt="Raymond recommends dividend of Re 1/sh" title="Raymond recommends dividend of Re 1/sh" border="0" width="75" height="75" align=" left" hspace="5"/> Raymond Ltd has informed BSE that the Board of Directors of the Company at its meeting held on April 26, 2013, has recommended a dividend 10% (Re. 1.00 per share) on the Equity Share Capital for the year 2012-13. The dividend if approved by the shareholders, will be paid on or after June 08, 2013. Sat, 27 Apr 2013 19:12:15 +0530 http://www.moneycontrol.com/news/announcements/raymond-recommends-dividendre-1sh_860642.html http://www.moneycontrol.com/news/announcements/wockhardt-redeems-preference-shares_860641.html <img src="http://www.moneycontrol.com/news_image_files/bse_corporate_announcment2.jpg" alt="Wockhardt redeems preference shares" title="Wockhardt redeems preference shares" border="0" width="75" height="75" align=" left" hspace="5"/> Wockhardt Ltd has informed BSE that the Company had issued OCCRPS - 2, which were optionally convertible on or after July 4, 2016 and if not converted were to be redeemed on December 31, 2018.

Pursuant to the modification in the terms of the said OCCRPS- 2, the Company has redeemed 116,539,748 OCCRPS -2. Sat, 27 Apr 2013 19:12:13 +0530 http://www.moneycontrol.com/news/announcements/wockhardt-redeems-preference-shares_860641.html http://www.moneycontrol.com/news/announcements/state-banktravancore-declares-final-dividendrs-3sh_860640.html <img src="http://www.moneycontrol.com/news_image_files/bse_corporate_announcment2.jpg" alt="State Bank of Travancore declares final dividend of Rs 3/sh" title="State Bank of Travancore declares final dividend of Rs 3/sh" border="0" width="75" height="75" align=" left" hspace="5"/> State Bank of Travancore has informed BSE that the Board of Directors of the Bank at its meeting held on April 26, 2013, inter alia, has declared a final dividend of Rs. 3/- per share (Face Value of Rs. 10/-) for the year 2012-13, in addition to the interim dividend of Rs. 17/- per share declared in March 2013. Sat, 27 Apr 2013 19:12:10 +0530 http://www.moneycontrol.com/news/announcements/state-banktravancore-declares-final-dividendrs-3sh_860640.html http://www.moneycontrol.com/news/announcements/rushil-decor-to-consider-final-dividendmay-7_860622.html <img src="http://www.moneycontrol.com/news_image_files/bse_corporate_announcment1_190.jpg" alt="Rushil Decor to consider final dividend on May 7" title="Rushil Decor to consider final dividend on May 7" border="0" width="75" height="75" align=" left" hspace="5"/> Rushil Decor Ltd has informed BSE that a meeting of the Board of Directors of the Company will be held on May 07, 2013, for the purpose of recommendation of final dividend, if any, for the financial year ending March 31, 2013; and consideration and taking on record the Audited Financial Results for Quarter and Financial Year ended March 31, 2013 Sat, 27 Apr 2013 19:00:05 +0530 http://www.moneycontrol.com/news/announcements/rushil-decor-to-consider-final-dividendmay-7_860622.html http://www.moneycontrol.com/news/announcements/associated-finlease-to-consider-changeobject-clausemoamay-3_860621.html <img src="http://www.moneycontrol.com/news_image_files/bse_corporate_announcment_190.jpg" alt="Associated Finlease to consider change in object clause of MoA on May 3" title="Associated Finlease to consider change in object clause of MoA on May 3" border="0" width="75" height="75" align=" left" hspace="5"/> Associated Finlease has informed BSE that a meeting of the Board of Directors of the Company will be held on May 03, 2013, to consider and approve the following: To Alter the object clause of the Memorandum of Association of the Company. 2. To consider other business if any. Sat, 27 Apr 2013 19:00:04 +0530 http://www.moneycontrol.com/news/announcements/associated-finlease-to-consider-changeobject-clausemoamay-3_860621.html http://www.moneycontrol.com/news/announcements/polaris-recommends-final-dividendrs-5sh_860620.html <img src="http://www.moneycontrol.com/news_image_files/bse_corporate_announcment1_190.jpg" alt="Polaris recommends final dividend of Rs 5/sh" title="Polaris recommends final dividend of Rs 5/sh" border="0" width="75" height="75" align=" left" hspace="5"/> Polaris Financial Technology Ltd has informed BSE that the Board of Directors of the Company at its meeting held on April 27, 2013, inter alia, has recommended a final dividend of Rs. 5 per share to its share holders inducted Mr. V. Balaraman as additional director to the board. Sat, 27 Apr 2013 19:00:01 +0530 http://www.moneycontrol.com/news/announcements/polaris-recommends-final-dividendrs-5sh_860620.html http://www.moneycontrol.com/news/announcements/pnb-gilts-p-k-chhokra-resignsdirectorship-_860619.html <img src="http://www.moneycontrol.com/news_image_files/bse_corporate_announcment_190.jpg" alt="PNB Gilts: P K Chhokra resigns from directorship " title="PNB Gilts: P K Chhokra resigns from directorship " border="0" width="75" height="75" align=" left" hspace="5"/> PNB Gilts Ltd has informed BSE that Shri P. K. Chhokra has resigned from the Directorship of the Company effective from March 31, 2013. The said resignation has been accepted by the Board of Directors in its meeting held on April 27, 2013. Sat, 27 Apr 2013 18:59:59 +0530 http://www.moneycontrol.com/news/announcements/pnb-gilts-p-k-chhokra-resignsdirectorship-_860619.html http://www.moneycontrol.com/news/announcements/nagarjuna-agrichem-approves-bonus-issue_860618.html <img src="http://www.moneycontrol.com/news_image_files/bse_corporate_announcment2.jpg" alt="Nagarjuna Agrichem approves bonus issue" title="Nagarjuna Agrichem approves bonus issue" border="0" width="75" height="75" align=" left" hspace="5"/> Nagarjuna Agrichem decided to issue bonus shares in the ratio of 3 equity shares for every 14 shares held by public shareholders in the company on the record date to be determined by the share committee /managing director of the company, for the purpose. Sat, 27 Apr 2013 18:59:57 +0530 http://www.moneycontrol.com/news/announcements/nagarjuna-agrichem-approves-bonus-issue_860618.html


14.02 | 0 komentar | Read More

HSBC cuts gold, silver price forecasts for 2013, 2014

Written By Unknown on Sabtu, 27 April 2013 | 14.02

HSBC lowered its gold forecast for this year and next on Friday, saying the recent tumble in prices for the yellow metal has dealt a severe blow to investor confidence, which may take many months to restore.

The bank cut its 2013 gold price forecast to USD 1,542 per ounce from USD 1,700 and the 2014 price outlook to USD 1,600 per ounce from USD 1,720.

The bank, however, expects gold prices to stabilize after the recent rout as retail demand for gold lends support with rising jewelry and gold coin purchases from Asia.

"Lower prices attract greater buying, especially in India and China. Based on the fragmented nature of this buying, it may take months for this new demand to feed into prices," HSBC analyst James Steel said in a note.

HSBC also cut its 2013 silver price forecast to USD 26 per ounce from USD 33 and the 2014 price outlook to USD 27 per ounce from USD 31 earlier.

The bank said factors limiting price appreciation for silver were likely to be growing mine output.

Mine production has increased steadily for more than a decade and continues to grow, notably in Latin America and China, the bank said.



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Sarabjit in coma, no surgery till he stabilises: Pak Doc

Indian national Sarabjit Singh was in a "deep coma" and put on ventilator support after being assaulted by a group of prisoners in a Pakistani jail, with doctors today saying that they will not be able to perform surgery on him till his condition stabilises.

Sarabjit, 49, was in an Intensive Care Unit of the state-run Jinnah Hospital in Lahore, where he was admitted yesterday after being brutally beaten by at least six other prisoners within his barrack at the Kot Lakhpat Jail. Official sources told PTI that Sarabjit was in a "deep coma" and doctors were unable to perform surgery on him yesterday because of extensive internal bleeding caused by a severe head injury.

"No surgery can be performed till his condition stabilises," a source said. The sources quoted doctors at Jinnah Hospital as saying that Sarabjit's condition was measured as 5 on the Glasgow Coma Scale (GCS), which indicates the level of damage or injury to a person's central nervous system. The GCS comprises tests of eye, verbal and motor responses. The three separate values and their sum are considered in deciding a person's status. The lowest possible GCS score is 3 while the highest is 15. Pakistani TV news channels quoted their sources as saying that next 24 hours would be crucial for Sarabjit.

Two Indian High Commission officials got consular access to Sarabjit Singh in the ICU of Jinnah Hospital this morning. "The officials of India's High Commission in Islamabad obtained access to Sarabjit in the ICU of Jinnah hospital, Lahore at 2:00 am," External Affairs Ministry spokesman Syed Akbaruddin said. "Doctors attending to Sarabjit Singh informed the Indian officials that he is in coma on ventilator and receiving IV drip," he said. The Indian mission had contacted Pakistan's Foreign Office last night to seek consular access.

The two Indian officials went to the hospital and spent some time with Sarabjit. They then drove away from the hospital without speaking to the media. Security has been beefed up at the hospital, where dozens of police commandos have been deployed.



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Gold down but posts biggest weekly gain in three months

Gold fell in choppy trade on Friday on as investors took profits, but the market still posted its biggest weekly gain in three months on strong physical demand after bullion hit a two-year low last week.

Bullion has recovered more than half of the loss of USD 225 per ouce incurred between April 12 and 16.

Also read: Gold heads for biggest weekly gain since late 2011

In early trade, gold rose more than 1 percent after the US Commerce Department reported that economic growth regained speed in the first quarter, but not as much as expected. Gold gave back those early gains and slid into negative territory as options-related selling kicked in, and losses in industrial commodities including crude oil and copper also weighed.

Investors in exchange-traded funds headed for the exits, worried about potential central bank sales of bullion and uncertainty over the outlook for US monetary stimulus.

"There is still some long liquidation in the market, suggesting that some investors are still repositioning themselves, and that leaves the price vulnerable to some sideways actions," said Erica Rannestad, precious metals analyst at the CPM Group.

Spot gold was down 0.6 percent at USD 1,457.76 an ounce by 3:28 p.m. EDT (1928 GMT), off the session high of USD 1,484.80.

US gold futures for June delivery settled down USD 8.40 at USD 1,484.80 an ounce. Trading volume was about 10 percent above its 30-day average, preliminary Reuters data showed.

US first-quarter growth expanded at a 2.5 percent annual rate, missing economists' expectations for 3 percent. Meanwhile, a separate report on consumer sentiment showed a drop from the previous month.

"That (GDP) is encouraging for gold because the whole sell-off in the metal was linked to perceptions that the US economy was getting stronger and stronger," Societe Generale analyst Robin Bhar said.

Silver also rose early, hitting a 10-day high of USD 24.82. Then it slid, down 1.7 percent in late trade to USD 23.91 an ounce.

STRONG PHYSICAL DEMAND

Physical buying persisted in Asia, with premiums for gold bars in Hong Kong jumping to their highest level since October 2011 this week, at up to USD 3 an ounce to spot London prices.

Premiums in Singapore stayed at their highest since October 2008 at USD 3 an ounce to the spot London prices on demand from Indonesia, Thailand and India.

But while physical demand has been strong, China, the second-largest gold consumer after India, will be on holiday for three days next week for the May Day break, possibly removing significant support from the market, traders said.

A daily drop in exchange-traded funds' holdings suggested that gold investors were still licking their wounds after bullion's historic fall last week.

Holdings of the largest gold-backed exchange-traded fund, the SPDR Gold Trust, dipped 0.25 percent to 1,090.27 tonnes on Thursday, from 1,092.98 on Wednesday. Holdings are at their lowest level since September 2009.

Among platinum group metals, platinum gained 0.4 percent to USD 1,472.49 an ounce, while palladium was down 0.4 percent at USD 677.25 an ounce.



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Indiabulls Wholesale Services declares interim dividend

Written By Unknown on Kamis, 25 April 2013 | 14.02

Indiabulls Wholesale Services declares interim dividend

Indiabulls Wholesale Services at its meeting held on April 24, 2013, has declared an interim dividend of Re 1 per equity share (on the face value of Rs 2 per share) for the financial year 2012-13.


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Ram Informatics allots 26.56 Lk equity shares on conversion of unsecured loan of Rs 2.65cr

Apr 25, 2013, 12.26 PM IST

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Ram Informatics allots 26.56 Lk equity shares on conversion of unsecured loan of Rs 2.65cr

Ram Informatics has allotted 26,56,500 Equity Shares of Rs 10 each at par on conversion of unsecured loan amount of Rs 2,65,65,000 and 25,00,000 Equity Shares of Rs 10 each at par upon Infusion of Fresh Funds of Rs 2,50,00,000 pursuant to the Scheme of Arrangement of the Company as approved by the High Court of Andhra Pradesh.

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Ram Informatics allots 26.56 Lk equity shares on conversion of unsecured loan of Rs 2.65cr

Ram Informatics has allotted 26,56,500 Equity Shares of Rs 10 each at par on conversion of unsecured loan amount of Rs 2,65,65,000 and 25,00,000 Equity Shares of Rs 10 each at par upon Infusion of Fresh Funds of Rs 2,50,00,000 pursuant to the Scheme of Arrangement of the Company as approved by the High Court of Andhra Pradesh.

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Ram Informatics Ltd has informed BSE that the Board of Directors of the Company at its meeting held on April 24, 2013, has allotted shares pursuant to the Scheme of Arrangement of the Company as approved by the High Court of Andhra Pradesh, as detailed here-In-below :1. 26,56,500 Equity Shares of Rs. 10/- each at par on conversion of unsecured loan amount of Rs. 2,65,65,000/-.2. 25,00,000 Equity Shares of Rs. 10/- each at par upon Infusion of Fresh Funds of Rs. 2,50,00,000/-.Source : BSE

Read all announcements in Ram Informatics

From DJ EU Officials Spain Aid Cap Of 100 Bn Euros 'should Be Enough'

The latest earning numbers FIRST on CNBC-TV18


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How SpiceJet is likely to benefit from Jet-Etihad deal

Moneycontrol Bureau

The Jet Airways - Etihad deal has raised hopes for SpiceJet , which is also in stake sale talks with Qatar Airways though its management is continuously denying it.

Here's why SpiceJet holds a bright chance to attract foreign airlines

* Its market share has risen 51 percent to 20.4 percent since September 2011

* It has cleaner balance sheet compared to industry players with debt of Rs 1190 crore.

* Recent equity infusion by promoter gives comfort and lays groundwork for foreign equity participation. (Early this week, management converted debentures of Rs 126 crore at Rs 36.2/share and also infused Rs 99 crore in June quarter of FY13.

* Its international segment is picking up pace by clocking in 80 percent load factors after it started flights on three new global routes in November.

* It is a major beneficiary of recent fall in crude prices. Its average fuel cost is likely to dip to Rs 57/litre in current financial year from Rs 60/litre year-on-year.

* Allocation of bilateral traffic rights to Indian private carriers is positive considering tax rationalization for aviation fuel and direct subsidy for small town to boost regional connectivity.

* In December quarter of FY13, the company reported stellar numbers with revenues climbing 32.7 percent to Rs 1602 quarter-on-quarter.
It reported profit of Rs 102 crore versus loss of RS 163.52 crore
EBITDA at 138.8cr vs EBITDA loss of 130.5 crore.

* Average yields per passenger has gone up 29 percent YoY to Rs 4412 due to higher ticket prices.

* Load factors are pretty strong at 75% versus 66.3% QoQ despite significant capacity addition

* Overall Passenger growth at 7 percent relatively much better placed compared to industry de growth of 3 percent from Jan to Nov (Q3 industry growth figures not out)

HSBC has upgraded SpiceJet stock to overweight and has lowered target price to Rs 40 from the earlier price of Rs 45. The key catalyst at this stage would probably be a prospective stake sale announcement by an Indian airline, it said

SpiceJet Stock has risen almost 15 percent in past two weeks on falling crude price. Also, promoters of the company continue to raise stake and overall promoter holding is up to 52.14 percent from 48.59 percent

Read This: Buy SpiceJet; no AirAsia worry till FY15: BofA-ML



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Will keep 2013-14 fiscal deficit below 4.8%: Chidambaram

Written By Unknown on Rabu, 24 April 2013 | 14.02

Moneycontrol Bureau

India will limit the fiscal deficit for 2013-14 to below 4.8 percent of gross domestic product, finance minister P Chidambaram said on Wednesday.

Speaking at the India Summit conference organized by The Economist magazine in New Delhi, Chidambaram said the fiscal deficit target is a red line that would never, never be breached. The fiscal deficit for 2012-13 is expected to be at around 5 percent of gross domestic product, government sources said earlier this month.

Right now, he said, the current account deficit (CAD) situation is more worrying than fiscal deficit. The minister expects CAD to be below 5 percent in 2012-13.

Also Read: Rangarajan presents FY13 report card, sees FY14 GDP at 6.4%

Chidambaram said given the growth projections in the world economy, it may be difficult to dramatically increase exports and India may have to look at ways to restrain imports.

However, he dismissed fears about India's deficit being mainly financed by short-term volatile foreign institutional investor inflows. Chidambaram said foreign institutional investments in India have always seen a growth except for one year after the global financial crisis. "The FIIs have invested about USD 11 billion into India year-to-date," he highlighted. 

He expects India's growth to be better than most of its BRICS peers.

Committing to carry forward the economic reforms programme in the remaining term of UPA-II, Finance Minister P Chidambaram today said the government will take more executive actions in the next two to four months and sought cooperation of the main opposition party to push through important bills in Parliament.

Ruling out early elections, the Minister said the government would last for 13 months more and would continue to take small but significant steps to ensure that the country achieves its potential growth rate of 8 per cent.

"There is much more to be done. The remaining bills have to be passed. There are many more executive actions that have to be taken... some of these are executive actions which we will take in the next 2-4 months," the FM said.  

The minister sought cooperation of the Opposition party to ensure passage of the land, insurance and Goods and Services Tax (GST) bills in Parliament, saying the economic issues should be dealt in a bipartisan manner.

There is a 70 percent chance of the GST being rolled out in the remaining 13 months of the Congress party-led United Progressive Alliance government's tenure, he said.

"We will continue to take small significant steps. We will also take forward some big ideas. India's economy will continue to reform," Chidambaram said.

(With input from agencies)



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Tendulkar turns 40, thanks fans for 'unconditional love'

Sachin Tendulkar was a picture of humility as he celebrated his 40th birthday with a brief cake-cutting ceremony here, thanking his legions of fans for their "unconditional love" in a cricket career spanning over two decades.

The Mumbaikar, who would be seen in action during an IPL match for his team Mumbai Indians against the Kolkata Knight Riders later tonight, made a brief statement to the media before cutting a cake here.

"Let me take this opportunity to thank all the people in India and well wishers all over the world who have supported me and showered me with unconditional love," said the veteran, whose wife Anjali was by his side during the ceremony. "It has been really special and it is because of their good wishes that I am standing here," he added.

Tendulkar said he wanted to thank each one of his fan personally for supporting him for over 24 years.

"Since I can't do that, it is a good opportunity to thank the every little thing that they have done for me, like fasting for me during injuries. I just wanted to say thank you," he said. Tendulkar got the first bite of his birthday cake from Anjali's hands who giggled after being called from the backstage by the batsman on the insistence of the present journalists and photographers. "Now, don't ask her to put it on my face next," joked the veteran cricketer.



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Vedanta, Essar vie for Rs845cr ore handling proj in Vizag

Industrial majors Vedanta and Essar Groups are in the race to get the Rs 845 crore worth Ore Handling Complex (OHC) project at Visakhapatnam Port, a senior official of the port said. The OHC project would be awarded on design, build, finance, operate and transfer (DBFOT) basis once the necessary approvals come from various government agencies, the official said.

According to the official, the project involves upgradation of the existing terminal and also creation of a new facility with a total outlay of nearly Rs 845 crore, including Rs 170 crore upfront fee to the port.

"The Planning Commission had given its consent for the project in February. We have sent the proposal to the Ministry of Shipping and from there it will go to the Cabinet Committee on Economic Affairs. "We will have to get security clearances from the Ministry of Home Affairs also. We have Vedanta and Essar as the bidders. It will take two to three months to award the 30 year-contract to the bid winner," the official told PTI. Currently, the existing Iron Handling capacity of the port is at 12 million tonnes and with the expansion it may go up to 23 tonnes, the official added.

The Shipping Ministry had set a target of 70 million tonnes for Vizag port for all commodities in 2012-13. The port lost about 7.1 million tonnes cargo mainly on two commodities -iron ore and petroleum products. It handled 12.24 million tonnes of iron ore and 15.08 million tonnes petroleum products against 16.07 million tonnes and 18.40 million tonnes, respectively, in the previous year.



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Mutual fund their tax benefits

Written By Unknown on Selasa, 23 April 2013 | 14.02

There are often questions in the mind of investors whether a mutual fund that they have chosen for the purpose of investment will get the benefit of Section 80C deduction. This is a legitimate question because often the investment is made with the intention of getting a tax benefit but if the fund that they have invested into does not fall into the specified category then the benefit will not be available. This requires some work on their part and hence undertaking this is beneficial as it reduce any complications at a later stage.

Do the homework before the investment
One of the first steps that have to be taken relates to the time period when this kind of research needs to be done. This has to be undertaken before the investment is actually made and it is in the planning stages so that if some problems are discovered then the entire investment itself is avoided. If the work is done after the investment is made then it could be difficult to reverse the situation without suffering some financial consequences. There might even be some losses and the overall tax planning could suffer so the period when this is done becomes important.

Category important
There is an easy way in which an individual can understand whether a mutual fund investment would be covered under the tax deduction clause. This is by checking the type of mutual fund that the investment is made in as there are clear distinctions made between the different types of schemes so it is not very hard to identify the funds that actually get the required benefit. One of the points is that the benefit is available to Equity Linked Savings Scheme (ELSS) and these are equity funds that have permission for the tax benefit. In addition there are simple equity oriented funds like equity diversified funds that do not have the tax benefit. The ELSS funds are directly and clearly identified so by looking at the category it might be possible to have an idea of the overall situation. In addition for first time investors in equity the funds that are covered under the Rajiv Gandhi Equity Savings Scheme there is also a onetime tax deduction available.

Check out the performance of Equity Linked Savings Scheme

Check the details
It is very easy to be misled by the position wherein some intermediary might just orally tell the investor that the scheme has a tax benefit. One should not just believe the details if these have been heard. The investor needs to check the details out themselves. There are two ways in which one can actually do this. The first one is to be actually look at the name of the fund which often gives the details of the tax benefit in the form of a name that bears words like Tax saver, tax shield, tax fund etc. After this one also needs to check the details of the category and here there would be  the confirmation  in the form of the classification as to whether this is an ELSS fund or RGESS fund. The funds offer documents also mention the tax benefit so this is another place where the same details can be confirmed.

Pension plans
There are also a couple of pension plans available in the market from mutual funds that  have  the same benefit under Section 80C so it is important to look for the details to see whether an investor is looking  at these funds for investment. These are a separate category but the benefit is also available here. The goal of this investment is to generate a pension or regular payment at the end of their working life so this is a long term investment. The nature of the investment is such that there is a mixture of debt and equity in the portfolio so this is not actually a pure equity fund.



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Rangarajan presents FY13 report card, sees FY14 GDP at 6.4%

Moneycontrol Bureau

The Prime Minister's Economic Advisory Council (PMEAC) projected the economy to grow at 6.4 percent in the new financial year that began on April 1. The panel said the economy probably grew 5 percent in the fiscal year 2012/13, its slowest pace in a decade, but there is a scope of an upward revision.

Presenting the economic review for fiscal year 2013, C Rangarajan, chairman, PMEAC lauded the reform measures taken by the government and claimed it had started yielding desired results. The PMEAC chairman sees manufacturing sector improving its performance over FY13 and may even report numbers higher than what the Central Statistical Office (CSO) had estimated.

He also said FY14 current account deficit (CAD) is expected to narrow down to 4.5 percent (from 5.1 percent in FY13) when the pace of exports pick up. He clarified that exports will remain modest in first quarter but will see gradual momentum from second and third quarters.

Saying that there are tell-tale signs of WPI inflation coming down, specifically non-food  inflation, Rangarajan pegged it at 6 percent for fiscal year 2014.

Below are the sector-wise performance prediction for FY14:


  • Industry Growth seen at 4.9 percent
  • Services growth seen at percent
  • Normal monsoon can lead to 3.5 percent agriculture growth
  • Manufacturing growth seen at 4 percent

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Ventura Commodities suggests selling gold, crude now

In an interview to CNBC-TV18, NS Ramaswamy, head commodities at Ventura Commodities spoke about recent trends in commodity markets and shared trading strategies on gold and crude.

Below is a verbatim transcript of the interview:

Q: Give us a word on gold and silver and how you are trading that?

A: Gold, after having tested USD 1,322 per ounce mark, saw a smart recovery back to close to USD 1,420 per ounce mark within a week's time. USD 1,420 per ounce being a very good resistance, we need to witness whether it would be sustainable to rally further to USD 1,447 per ounce mark.

Once it breaks USD 1,420 per ounce we expect it to again retest the support levels of USD 1,395 per ounce mark.

In fact, a bit of exchange traded fund (ETF) appetite took a smart recovery and also the hedge funds led a long bet on it, although the SPDR holding still continue to be on the downside to close to 1 percent to 0.88 percent mark.

So, probably on an intraday perspective, we would prefer to sell gold June contract somewhere in the range of Rs 26,500 per 10gm levels. Expecting levels of Rs 26,180 per 10gm with a stop loss of Rs 26,640 per 10gm we would prefer to go short on gold.

Q: Crude managed to get back to three digits last night. Is there strength in that pullback as well or an opportunity to short?

A: Crude is getting a support only on account of natural gas prices . The producers are shifting that base towards crude oil. That is a bit of a support that has been given and it is likely to sustain at these levels.

However, crude is likely to break down those USD 89 per barrel mark. In the MCX counter May contract if one were to sell in the range of close to Rs 4,870 per barrel, we expect levels of Rs 4,805 per barrel to Rs 4,760 per barrel.

There are a lot of negative indicators from US as regards manufacturing leading indicators or even the jobless numbers including China trying to be threateningly below 8 percent growth mark. So, we expect crude levels to be on a lower note. With a stop loss of Rs 4,915 per barrel, we recommend selling in NYMEX crude.



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Yes Bank, IndusInd Bank top picks: Dhirendra Tiwari

Written By Unknown on Senin, 22 April 2013 | 14.02

Yes Bank and IndusInd Bank are the top picks among the private banking space, says Dhirendra Tiwari, Head of  Research Antique Institutional Equities.

Tiwari told CNBC-TV18, "I will just give you brief background in the sense that if you look at these three developments,  one the crude and gold falling can lead to significant amount of reduction in current account deficit. Second is that we  feel there is a possibility, I think there would be increased possibility of rate cuts going forward given that inflation is  moderating."

He further added, "I think some of the private sector banks like IndusInd and Yes Bank have performed very well in  recent quarters and I think in the easing rate environment they will continue to do so. So I would assume that we are  looking at anywhere between 18-20 percent kind of growth rate in these companies. At least, you could look at  earnings upside or targets of anywhere between 15-20 percent. I would not give exact numbers but I think 15-20  percent will be fair assumption to look at in case of Yes Bank. I would also like to highlight, IndusInd Bank is also one  of preferred banks in that category. These two banks, we continue to like in the private sector space."



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PM confident that Par will transact financial and other biz

In the face of Opposition onslaught, Prime Minister Manmohan Singh today said he was "very confident" that Parliament will transact financial and other business in the remaining part of the Budget session.

The government, he said, was willing for a debate on any issue. Terming as "very important part" the second half of the Budget session, Singh said, "Important financial business is before the House. There are also important bills like the Food Security Bill, Land Acquisition Bill which require to be passed.

Also read: 6 early signs of Indian economy recovering according to Morgan Stanley

"It is my sincere wish that the House should be allowed to function," he told reporters outside Parliament House ahead of the resumption of the Budget session after a four-week recess.

He said if there are any concerns of the Opposition, "we are willing to debate all those issues" which worry them. Singh also requested the Opposition members to let the government function.

"We are being put in this position by the people of India to deliver certain goods and we hope that every one cooperates in that process so that the Budget is passed, certain other business is also dealt with effectively," he said.

In reply to a question on the survivability of the government, the Prime Minister said he was "very confident that the financial business will be transacted to our satisfaction."



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Prefer ONGC, BPCL, says Dhirendra Tiwari

One can prefer ONGC , BPCL in oil & gas space, says Dhirendra Tiwari, Head of Research Antique Institutional  Equities.

Tiwari told CNBC-TV18, "Overall, it's a very positive development both crude and gold falling. We generally feel that  these two-three developments will lead to significant re-rating for equities as a whole. Specifically for oil sector, under  recoveries will fall dramatically if crude falls by say 10 percent. In that context, the whole sector looks appealing but we  prefer ONGC, BPCL in this particular space. So I think overall market should see some positive bias in next six-seven  months, remainder of the year because of these things particularly."

He further added, "You could look at around 14-15 percent upside in each of these cases. But having said that, these  stocks can have meaningful upgrades in the months to come. For example, if you look at overall prices, if they go  down to USD 90 per barrel then the situation will further improve. So these are dynamic situations and we will keep on  monitoring them but I think one can look at that kind of upside in these two counters in the months to come."



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Shanthi Gears board to consider dividend

Written By Unknown on Sabtu, 20 April 2013 | 14.02

Apr 20, 2013, 12.18 PM IST

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Shanthi Gears Ltd has informed BSE that a meeting of the Board of Directors of the Company will be held on April 30, 2013, to consider and take on record the Audited Financial Results for the Year Ended March 31, 2013 and to recommend dividend.Source : BSE

Read all announcements in Shanthi Gears



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PNB Gilts: Updates on ensuing board meeting on April 27, 2013

With reference to the earlier announcement dated April 17, 2013 regarding Board Meeting to be held on April 27, 2013, to consider unaudited financial results for the quarter and year ended March 31, 2013 and to consider dividend for FY 2012-13, PNB Gilts Ltd has now informed BSE that, in the said announcement the word "Unaudited" should be read as "Audited".Source : BSE

Read all announcements in PNB Gilts


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Sterling Holiday board meeting on April 29, 2013

Sterling Holiday board meeting on April 29, 2013

Sterling Holiday Resorts India board meeting will be held on April 29, 2013, to consider and approve the audited financial results of the Company for the financial year ended March 31, 2013 and allotment of equity shares under ESPS.


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FBI releases pics and videos of two Boston bomb suspects

Written By Unknown on Jumat, 19 April 2013 | 14.02

The FBI has released pictures and videos of two suspects in the Boston marathon bombings and has asked for the public's help to identify them. The suspects are carrying backpacks and can be seen walking on the sidewalk along the route of the Boston marathon towards the finish line.

One of the suspects is wearing a dark cap, jacket and light trousers and is carrying a black backpack. The other suspect is wearing a white cap and in one of the videos available with the FBI is seen planting his backpack at the site of the second explosion. FBI said the bag was planted at the marathon "within minutes" of before the blast.

The pictures and videos were released during a press conference organsied here. FBI's Special Agent in-charge Richard DesLauriers said the two men "appear to be associated." "At this time these are the people of interest to the FBI," DesLauriers said at the press conference. He cautioned that the public should not take any action against the two individuals and should contact law enforcement officials.

"Somebody out there knows these individuals... we consider them to be extremely dangerous," he said. The FBI has not made any comment on the nationalities of the two suspects. Two bombs ripped through the crowds and runners at the Boston Marathon, killing three persons and injuring over 180 on Monday.



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Will revise Wipro's growth estimates; stock may fall: Ambit

Ankur Rudra, vice president, Ambit Capital expects Wipro  shares to slide on Monday given their subdued Q4 numbers  and relatively weak Q1 guidance.

"Wipro has been trading in the region of 14.5-15 times and we have already seen Infosys de-rate to about 13 times. The numbers so far indicate that the recovery is not in sight. One would expect Wipro to de-rate to similar to what Infosys is trading right now," he said in an interview to CNBC-TV18.

Wipro is facing structural issues like lack of a leadership vertical and lack of a leadership service line, he pointed out. 

"We will have to scale down our estimates because we are going into the year assuming that Wipro will be able to recover from sub par growth of around 5-6 percent in FY13 towards around at least 8 percent growth levels. The management guidance of 5 percent is substantially below our expectations," he added.

Below is the edited transcript of his interview to CNBC-TV18.

Q: How are you reading the Q4 numbers and what about the guidance?

A: Clearly, the numbers are on the weaker side. It is hardly 0.3 percent. The guidance is relatively weak. On one hand, we have -0.6 percent to about 1.6 percent. We were expecting a growth of around 2 percent in Q4 and guidance of around 1-3 percent for the first quarter because there is general expectation that growth will be more first half led in FY14.

We are beginning the year with a negative to 1-1.5 percent guidance which indicates that visibility has not improved for this round. It is disappointing especially for the sections of the street and investors who are waiting for a recovery. This derails our expectation quite substantially.

Q: If you consider Q1 guidance to look muted, then the stock should take a beating on Monday. Where do you expect the stock to open on Monday? Do you expect something similar to Infosys or the stock could correct 3 or 4 percent as the stock has already corrected from Rs 400 post demerger?

A: Wipro has disappointed on Q4 from expectations on results point of view and they have disappointed on Q1 guidance. Expectations from Infosys was a lot higher compared to Wipro, so I don't expect similar disappointment in share price that we saw in Infosys in terms of the quantum of the share price movement. I think the stock will move southwards on Monday.    

Q: Wipro came out with a dollar revenue growth of about 5 percent for the entire year. Now given that the turnaround for Wipro has taken so long, what would you expect would be the dollar revenue growth in FY14? Would you have to scale down your estimates?

A: We will have to scale down our estimates because we are going into the year assuming that Wipro will be able to recover from sub par growth of around 5-6 percent in FY13 towards around at least 8 percent growth levels. The management guidance of 5 percent is substantially below our expectations.

Both Wipro and Infosys have guided weak numbers for the whole year. So, it not only recovered fully but the market also recovered to the extent that we were expecting the market for IT services. I think expectations across the street for most should moderate on the back of these results.

Q: On the valuation side, what would you expect Wipro earnings per share (EPS) for FY14 to be now as a pure play IT company and thereafter what the fair price to earnings (P/E) valuation should be now?

A: I cannot comment on the pure IT services business or earnings as there were many tax issues present. However, we were expecting Wipro to report an earning of Rs 29 for FY14 clearly with growth moderating compared to our initial expectation. We will probably shave a few percentage points from Rs 29 EPS.

Wipro has been trading in the region of 14.5-15 times and we have already seen Infosys de-rate to about 13 times. The numbers so far indicate that the recovery is not in sight. One would expect Wipro to de-rate to similar to what Infosys is trading right now.

Q: So closer to 13 P/E multiples for FY14?

A: One would expect that.

Q: What do you think would be the main problem with Wipro? Would it still be the issue with smaller clients, would it still be the telecom vertical, what is your estimate in terms of where they would have missed in terms of performance?

A: Wipro is facing structural issues like lack of a leadership vertical, lack of a leadership service line, they do not have a very large vertical or large services where they are the industry leaders which can drive the growth, which can under ride the growth every quarter.

From a tactical perspective especially in the last five to seven quarters, tail end of clients has been the biggest challenge for Wipro where they have been trying to move away from the smaller clients, which has a negative impact every quarter.

So, it has a negative impact in the last several quarters and to counter balance the shortfall every quarter because they are moving away from the smaller clients, Wipro needs to add a lot more growth. So, it could be the fact that they have not been able to add substantial incremental growth to counterbalance that.

Having said that, I think the margins for the quarter have improved compared to our expectation. Wipro is moving many of their projects from time and material (T&M) to fixed-price, which is giving them the margin benefits but the revenue growth is not reflecting that change yet.



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Key Microsoft executive departures in recent years

Microsoft Corp chief financial officer Peter Klein will leave at the end of the current fiscal year, the company said on Thursday, adding to a lengthy list of top executives who have left the company in recent years.

Following is a list of some of those high-profile departures:

Steven Sinofsky

The highly successful but confrontational head of the Windows unit left abruptly last November by "mutual" agreement.

Ray Ozzie

The software guru tapped by Bill Gates to take over his role as Microsoft's big-picture thinker left to start his own project in 2010.

Stephen Elop

The head of Microsoft's Office unit, its most profitable, took the job of chief executive at Finnish phone maker Nokia in 2010.

Robbie Bach

The head of Microsoft's video games and mobile phones unit, credited with launching the Xbox platform, retired as part of a management reshuffle in 2010.

Chris Liddell

Klein's predecessor as CFO left Microsoft in late 2009 for the same job at General Motors .

Kevin Johnson

Windows and online head went to run Juniper Networks Inc in 2008, largely taking the blame for Microsoft's failed bid to buy Yahoo Inc .

Jeff Raikes

Veteran sales and marketing leader and head of the Office unit left to join the Bill & Melinda Gates Foundation as CEO in 2008.



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Shree Surgovind updates on open offer

Written By Unknown on Kamis, 18 April 2013 | 14.02

Apr 18, 2013, 12.22 PM IST

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Shree Surgovind updates on open offer

Arihant Capital Markets has submitted to BSE a copy of Recommendations of Committee of Independent Directors on the Open Offer to the shareholders of the Shree Surgovind Tradelink by Mr. Virat Sevantilal Shah, Mr. Alok Virat Shah, Mr. Rajan Sevantilal Shah for acquisition of up to 13,02,600 Equity shares of Rs 10 each.

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Shree Surgovind updates on open offer

Arihant Capital Markets has submitted to BSE a copy of Recommendations of Committee of Independent Directors on the Open Offer to the shareholders of the Shree Surgovind Tradelink by Mr. Virat Sevantilal Shah, Mr. Alok Virat Shah, Mr. Rajan Sevantilal Shah for acquisition of up to 13,02,600 Equity shares of Rs 10 each.

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Arihant Capital Markets Ltd ("Manager to the Open Offer") has submitted to BSE a copy of Recommendations of Committee of Independent Directors ("IDC") on the Open Offer to the shareholders of the Shree Surgovind Tradelink Ltd ("Target Company") by Mr. Virat Sevantilal Shah, Mr. Alok Virat Shah, Mr. Rajan Sevantilal Shah ("Acquirers") for acquisition of up to 13,02,600 Equity shares of Rs. 10/- each under Regulation 26(7) of Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 ("SEBI SAST Regulations").Source : BSE

Read all announcements in Shree Surgovind

To read the full report click here

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Orchid Chemical outcome of board meeting

Orchid Chemicals & Pharmaceuticals Ltd has informed BSE that the Board of Directors of the Company at its meeting held on April 17, 2013, has discussed and approved the following:1. The Business Transfer Agreement (BTA) with Hospira has been extended till June 30, 2013, Consequently, the Board approved the extension of financial year 2012-2013 of the Company by a period of 3 (three) months i.e. up to June 30, 2013. Accordingly, the Annual Accounts of the Company for the financial year 2012-2013 shall be for a period of 15 (fifteen) months from April 01, 2012 till June 30, 2013.2. The Board also accepted the resignation of Shri S. Krishnan from the post of Executive Director & Chief Financial Officer of the Company. Shri S. Krishnan will however continue as a Director on the Board of the Company.3. The Board has designated Shri L. Chandrasekar currently Executive Vice President and Company Secretary as the Chief Financial Officer (CFO) of the Company with immediate effect.Source : BSE

Read all announcements in Orchid Chemical


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JSW Steel, Sesa Goa up after SC lifts mining ban

Moneycontrol Bureau

The Supreme Court (SC) on Thursday lifted a one-and-a-half-year old iron ore mining ban in Karnataka, spiking the shares of mining companies between 2-15 percent.

Following the SC verdict, shares of companies like Kalyani Steel rose 15 percent to Rs 42.10, JSW Steel also climbed over two percent to Rs 717.30. Sesa Goa shares, which has most of its mining operations in Goa and little capacity in Karnataka also rose marginally.

The SC had in 2011 banned iron ore mining in Bellary, Chitradurga and Tumkur districts of Karnataka citing environmental violations, and had asked Central Empowered Committee (CEC) to carry out an environmental impact assessment.

Karnataka alone accounts for around a fifth of the total 200 million tonne of iron ore produced in the country annually. Also, over ten steel companies including JSW Steel, Mukand, Sunflag Steel and Kalyani Steels churn  out over 12mt steel using iron ore.

None of these have captive mines linked to their projects and had to procure their raw material from merchant miners at a higher rate.

In a temporary arrangement, aimed at helping the steel industry survive in the interim, the SC had allowed daily auctions of iron ore from existing stocks, apart from directing state-owned NMDC Ltd to operate two of its mines to supply a total of a million tonne every month.

Meanwhile, the forest bench of the SC has accepted all the reports submitted periodically by the CEC regarding the mining in Karnataka.

As per the CEC reports, Category B mines will be allowed to restart mining subject to necessary statutory clearances and completion of relief and rehabilitation work is complete. Already, the apex court has in 2012 approved 18 Category A mines, of which 7 mines have started mining.

The leases of Category C mines will stand cancelled as per the CEC report. There are 49 mining leases in Category C, whose licences will stand cancelled.

Meanwhile, after resuming operation in Karnataka, JSW Steel will be able to up enhance capacity to over 80 percent level The company owns a 10 million tonne per annum (mtpa) steel plant at its flagship factory at Vijayanagar which had been running at abysmally low capacities when mining of iron ore was banned in Karnataka in July 2011.

Due to the ongoing ban in Karnataka and in Goa, Sesa Goa also could not produce iron-ore in December quarter. The Vedanta group company also had to defer around 10-25 percent of senior staff salaries in January this year as it found it difficult to maintain topline growth on the back of mining ban.



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Titan's Q4 jewellery sales growth seen at 17%: StanChart

Written By Unknown on Rabu, 17 April 2013 | 14.02

Deep correction in gold price has spurred branded jewellery demand which has benefited Titan Industries in the short run, Sanjay Singh, Associate Director, Standard Chartered Securities said in an interview to CNBC-TV18.

One can expect a robust March quarter for Titan's jewellery segment. "Titan Industries could see a positive surprise in March quarter. In the March quarter, we are expecting a 17 percent topline growth for Titan's jewellery, which is quite good in the environment we are in," he added.

The key factor driving demand would be how macros pan out than gold price. "If economy ramps up, volume will compensate for the gold price to an extent because consumption buying does not happen on gold volumes, it happens on budget. But if it keeps falling, it is not possible that it will not impact sales growth because there will be postponement of demand," he explained.

Below is the verbatim transcript of his interview to CNBC-TV18

Q: Before we talk about the large consumers, have you changed your estimates on Titan Industries on account of what has been going on in the gold market?

A: As of now we have reduced our estimates somewhat around 5 percent mainly on the back of a weak macro. Given the economy where it is, discretionary purchases will get postponed.

Gold, given the scenario it is in, has been in the short run beneficial for Titan Industries. So to say because given that gold was in a secular run, short dip in the last three-four months and of course big dip a few days back has spurred the demand to an extent. At least in the branded jewellery space because people were on the sidelines for a long time probably.

So, for Titan Industries, this quarter should be quite good. We are expecting a pretty robust quarter, which is March quarter. Going forward, if gold remains weak, of course demand will get postponed. There maybe a short-term impact. We are talking about March quarter and that should be pretty okay as we speak.

Titan Industries is one of the stocks where we feel March quarter could be a positive surprise. Going forward, we need to see how gold settles down. More importantly how economy behaves because that will spur the disposable income led spending.


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Buy Infosys on dips advises Sudarshan Sukhani

Sudarshan Sukhani of s2analytics.com advised traders to buy Infosys on dips.

Sukhani told CNBC-TV18, " Infosys still does not seem to have found its feet post the earnings. The trade, if one has to do something would be to go long on some kind of sharp intraday dips. Yesterday Infosys suddenly collapsed. These collapses can be used to take a position on the buy side. However, we would not like to do anything with it."

The company's trailing 12-month (TTM) EPS was at Rs 129.58 per share. (Mar, 2013). The stock's price-to-earnings (P/E) ratio was 17.64. The latest book value of the company is Rs 676.95 per share. At current value, the price-to-book value of the company was 3.38. The dividend yield of the company was 2.06 percent.

The stock's price-to-earnings (P/E) ratio stands at 17.65 on (NSE).



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Sell Jubilant Foodworks, says Sukhani

According to Sudarshan Sukhani of s2analytics.com, Jubilant Foodworks is a sell. He feels the stock may see more downside.

Sukhani told CNBC-TV18, " Jubilant Foodworks is a sell. It is almost something like Zee because it is cracking all kind of support levels. A V-shape and inverted V decline is here that tells us probably more downside is coming. Focus on the banks, focus on IT stocks and sell these midcaps."

The company's trailing 12-month (TTM) EPS was at Rs 11.17 per share. (Dec, 2012). The stock's price-to-earnings (P/E) ratio was 96.85. The latest book value of the company is Rs 45.92 per share. At current value, the price-to-book value of the company was 23.56.

The stock's price-to-earnings (P/E) ratio stands at 96.89 on (NSE).



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Cement cos March quarter top-line to grow by 8.1%: Angel

Written By Unknown on Selasa, 16 April 2013 | 14.02

Angel Broking has come out with its earnings estimates on cement sector for the March quarter FY13. According to the research firm, cement companies top-line to grow by 8.1% yoy. However, margins to remain under pressure.

Angel Broking report on cement sector:

Top-line to grow by 8.1% yoy

We expect our cement universe to report an 8.1% yoy improvement in its top-line driven more by higher realization. Among the companies under our coverage, Madras Cement is expected to post the highest top-line growth of 19.1% aided by healthy demand scenario in Tamil Nadu and strong pricing environemnt.

Margins to remain under pressure

Despite better yoy realization, we expect most of the companies under coverage to face margin pressure on account of higher operating costs. Thus, we expect our cement universe to report a 12.8% de-growth in net profit during the quarter.

Outlook and valuation

Cement stocks witnessed a strong rally during CY2012 buoyed by their healthy earnings performances. Earnings remained strong despite modest demand growth due to the healthy pricing scenario. However, worsening of the cement demand scenario has put pressure on pricing. We do not expect any significant improvement in the earnings profile of cement companies over the next year . Hence we continue to remain Neutral on the sector. However, we have a Buy recemmendation on ACC and JK Lakshmi Cements due to their cheap valuations.

^December year ending; *June year ending



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Datawatch: Gold bags of top 15 countries

Apr 16, 2013, 12.20 PM IST

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Datawatch: Gold bags of top 15 countries

Despite tonnes of gold imports over the years, India holds only 9.60 percent of its total foreign reserves in gold. This may seem miniscule when compared to the United States or Germany where gold represents more than 70 percent of their total foreign reserves.

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Datawatch: Gold bags of top 15 countries

Despite tonnes of gold imports over the years, India holds only 9.60 percent of its total foreign reserves in gold. This may seem miniscule when compared to the United States or Germany where gold represents more than 70 percent of their total foreign reserves.

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Moneycontrol Bureau

Despite tonnes of gold imports over the years, India holds only 9.60 percent of its total foreign reserves in gold. This may seem miniscule when compared to the United States or Germany where gold represents more than 70 percent of their total foreign reserves.

Below is a World Gold Council chart of countries with their gold reserves:


Country/Body Tonnes Proportion of gold in total foreign reserves
United States 8,133.5 75.10%
Germany 3,391.3 72.10%
Italy 2,451.8 71.30%
France 2,435.4 69.50%
China 1,054.1 1.60%
Switzerland 1,040.1 10.00%
Russia 976.9 9.50%
Japan 765.2 3.10%
Netherlands 612.5 58.70%
India 557.7 9.60%
ECB 502.1 32.30%
Taiwan 423.6 5.40%
Portugal 382.5 89.60%
Venezuela 365.8 65.40%
Saudi Arabia 322.9 2.40%

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Kotak Mahindra FY13 results on May 02, 2013

Apr 16, 2013, 12.22 PM IST

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Kotak Mahindra FY13 results on May 02, 2013

Kotak Mahindra Bank board meeting will be held on May 02, 2013, to consider and take on record the audited annual standalone and consolidated accounts for the year ended March 31, 2013 and declaration of dividend, if any, for the year ended March 31, 2013.

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Kotak Mahindra FY13 results on May 02, 2013

Kotak Mahindra Bank board meeting will be held on May 02, 2013, to consider and take on record the audited annual standalone and consolidated accounts for the year ended March 31, 2013 and declaration of dividend, if any, for the year ended March 31, 2013.

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Kotak Mahindra Bank Ltd has informed BSE that a meeting of the Board of Directors of the Bank will be held on May 02, 2013, to consider and take on record the audited annual standalone and consolidated accounts for the year ended March 31, 2013 and declaration of dividend, if any, for the year ended March 31, 2013.Source : BSE

Read all announcements in Kotak Mahindra

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Tata Motors slumps on Moody's report; stock down 3%

Written By Unknown on Senin, 15 April 2013 | 14.02

Tata Motors is down 3.5 percent, Rating agency Moodys says Tata Motors diminishing market share is credit negative. The company's private vehicle market share has decreased to 11.8 percent versus 14.2 percent at the end of FY12.

Even Tata's dominant market position in commercial vehicles saw a decline to 56.1 percent from 58.5 percent in 2012. This longer-term erosion of market share is credit negative because it leads to weaker operating performance and key financial metrics.

At 11:51 hrs Tata Motors was quoting at Rs 267, down Rs 8.40, or 3.05 percent. It has touched an intraday high of Rs 272.50 and an intraday low of Rs 264.25. It was trading with volumes of 209,441 shares.
 
In the previous trading session, the share closed down 0.99 percent or Rs 2.75 at Rs 275.40.
 
The share touched its 52-week high Rs 337.05 and 52-week low Rs 213.90 on 10 January, 2013 and 26 July, 2012, respectively.
 
Currently, it is trading 20.78 percent below its 52-week high and 24.82 percent above its 52-week low. 



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The shallow secularism of Nitish Kumar is a farce

R Jagannathan
Firstpost.com

It is perfectly all right for Nitish Kumar to nurse his own ambitions for Prime Ministership. He is equally within his rights to demand that Narendra Modi should not be the BJP's PM candidate. The BJP may or may not oblige (for that is its right), but then Kumar is free to look at his options, including a pullout. What is completely out of place is making this hypocritical demand in the name of secularism.

Yesterday, Nitish Kumar made his famous "topi aur tilak " reference one representing Muslims and the other Hindus. The Indian Express quotes him as saying: "Sometimes you will have to wear a cap, sometimes you will have to sport a tilak." The obvious innuendo is to Modi's reported unwillingness to wear the Muslim skull cap offered to him by a minority delegation to his 2011 "Sadhbhavna" fasts.

The "topi-tilak" reference is a pathetic one. That in the 66th year of independence we cannot think of secularism as anything above "symbolism" is ominous. It implies that Muslims are more concerned about someone pretending to wear a "topi" than more substantive issues. In our entire existence as an independent nation, our "secular" leaders have been doing nothing but this: pretend to help the minorities while actually doing nothing on the ground for them. They have been running a protection racket for the minorities, and Kumar now joins the crowd.

The joke, in fact, is on Kumar. The Hindi expression "kisiko topi pehnana" means making a fool of somebody. This is exactly what our secularists have been doing fooling the Muslim minorities by promising them everything but good education, better jobs and integration into the mainstream.

Consider all the implications of the "topi-tilak" metaphor and how it is actually demeaning to secularism.

One, even if secularism is about symbolism, surely it cannot be one-sided. How many minority leaders have been sporting the "tilak"? Have we seen Omar Abdullah with a "tilak" or even a Mayawati with one? Which Kerala minority leader is into any kind of symbolic wooing? In fact, the strength of the Kerala model is the "salad bowl" approach of the political parties there, where each community keeps its own symbols, and joins together in a coalition. Is it only the so-called Hindu leader who has to prove his secular credentials by wearing a topi?

Two, if identity is a matter of personal choice, as Amartya Sen keeps reminding us, why is it important for Modi to prove a point by wearing a skull-cap? Assuming he does wear a skull-cap, does that make him instantly secular? Why is he not entitled to decide his own identity? Why should he pretend to be a multi-identity person hypocritically, never mind his personal convictions?

Three, secularism is about not being bigoted, and about not discriminating against any community in official policy (among other things). If Nitish Kumar's definition is valid, then we should consider the French to be communal for they have banned every religious symbol from public life no crosses, no headscarves, no turbans even for Sikhs. We should even call the Irish communal, for they managed to apply their own religion-influenced anti-abortion law on a pregnant Indian immigrant and killed her.

Four, is Nitish Kumar's secularism only skin deep? He may not like Modi, but surely he is close to LK Advani, who is the original creator of the Hindutva wave which ended with the Babri demolition. Nitish even flagged off Advani's anti-corruption yatra. So what is this selective targeting of "communal" Modi about beyond a clash of political ambitions?

Five, in India we define bigotry too narrowly to include only Hindu communalism. Caste-based communalism is not considered, unless this is to target upper caste bigotry. Thus, a Congress party can ally with parties that are purely Muslim Indian Union Muslim League, Majlis-e-Ittehadul Muslimeen and not be called communal. A Samajwadi Party can align with all kinds of mullahs and base its vote on Yadavs, but it is not communal. The DMK can oppress Dalits in Tamil Nadu, but it will not be called communal. Every party in the Kerala coalition represents a separate community Muslims, Christians, Nairs, Ezhavas but it is not a communal coalition. The CPI(M) can kill Muslims in Nandigram, but it is not communal. Nitish Kumar has validated this kind of nonsense.

There are many more things objectionable about Kumar's speech, including his references to Modi's authoritarian tendencies. He said: "Nobody should think that the country can be run by force…".

This is not to claim Modi isn't an authoritarian leader. But the boot is also on the other foot. Nitish Kumar himself is being accused of running a one-man show. The irrepressible Markandeya Katju of the Press Council accused Kumar of stamping out press freedom in Bihar . And a recent Indian Express story on Nitish Kumar's Bihar suggests that his own party leaders are upset at the excess power now wielded by bureaucrats which is typical of strong, authoritarian rulers who enforce governance through a direct wielding of power. Janata Dal (United) leaders are critical of "afsarshahi."

The truth is, in India individuals wield more power than institutions, and this phenomenon runs across parties and is not limited to Modi. Consider these names and check if they are symbols of inner party democracy: J Jayalalithaa, Mamata Banerjee , Sonia Gandhi , Prakash Karat, Naveen Patnaik, M Karunanidhi, Mayawati, Lalu Prasad Yadav, Raj and Uddhav Thackeray (earlier Bal Thackeray ).

Clearly, Nitish Kumar's selective secularism is a product of ambition, political calculation and circumstance. It is going to do nothing to strengthen Indian secularism. It will, if anything, make a bigger mockery of it.

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



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Commodity bets: Sell gold, copper crude, say experts

Ravindra Rao of Motilal Oswal Commodities advises selling gold at Rs 29,200 per 10gm with stop loss of Rs 29,380 per 10g, gold prices can slide towards Rs 28,700-28,600 per 10gm.

Sell MCX Gold June Fut at Rs 28040: Fortune Financial

Hitesh Jain of IIFL recommends selling copper April contract around Rs 405 per kilogram with target of Rs 398 per kilogram and stop loss of Rs 409 per kilogram.

Dipen Shah of Stayvan.com suggests selling crude as crude is facing a lot of downward pressure and Rs 5000 per barrel would act a strong resistance. "Any rise around Rs 5,000 per barrel should be sold in crude on MCX with strict stop loss of Rs 5,050 per barrel and expect Rs 4,900-4,880 per barrel on the lower side," Shah adds.



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Sweetcouch, the latest online window shopping destination

Written By Unknown on Minggu, 14 April 2013 | 14.02

Apr 13, 2013, 06.40 PM IST

Source: Tech2.com

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Sweetcouch, the latest online window shopping destination

Though online shopping has indefinite advantages, many users still miss wandering around and indulging in window shopping...

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Sweetcouch, the latest online window shopping destination

Though online shopping has indefinite advantages, many users still miss wandering around and indulging in window shopping...

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Though online shopping has indefinite advantages, many users still miss wandering around and indulging in "window shopping". We were approached by one such site called Sweetcouch.com that aims at providing a "window shopping" experience right at the comfort of your couch. In an attempt to create a window shopping place, the site comes with a Pinterest-like interface (similar to TheFancy.com), showing large image thumbnails of several products. Just hover over the product image and you will see options to buy it instantly or add it to your wishlist of products that you plan to buy later. Sweetcouch has been live for the past six months, but it was launched in January for public. And in the past one month, approximately 2.5 million products were viewed on Sweetcouch, claims the site.

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