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Shah Foods standalone Jun '14 sales at Rs 1.18 crore

Written By Unknown on Kamis, 31 Juli 2014 | 14.02

Jul 31, 2014, 12.02 PM IST | Source: Moneycontrol.com

Shah Foods has reported a sales standalone turnover of Rs 1.18 crore and a net profit of Rs 0.06 crore for the quarter ended Jun '14

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Shah Foods standalone Jun '14 sales at Rs 1.18 crore

Shah Foods has reported a sales standalone turnover of Rs 1.18 crore and a net profit of Rs 0.06 crore for the quarter ended Jun '14

Shah Foods has reported a standalone sales turnover of Rs 1.18 crore and a net profit of Rs 0.06 crore for the quarter ended Jun '14. Other income for the quarter was Rs 0.02 crore.
For the quarter ended Jun 2013 the standalone sales turnover was Rs 0.63 crore and net loss was Rs 0.08 crore, and other income Rs 0.01 crore.
Shah Foods shares closed at 48.00 on July 30, 2014 (BSE) and has given 149.35% returns over the last 6 months and 150.65% over the last 12 months.
Shah Foods
Standalone Quarterly Results -------- in Rs. Cr. --------
Jun '14 Mar '14 Dec '13
Sales Turnover 1.18 1.22 1.05
Other Income 0.02 0.02 0.01
Total Income 1.20 1.24 1.06
Total Expenses 1.10 1.15 0.95
Operating Profit 0.08 0.07 0.10
Profit On Sale Of Assets -- -- --
Profit On Sale Of Investments -- -- --
Gain/Loss On Foreign Exchange -- -- --
VRS Adjustment -- -- --
Other Extraordinary Income/Expenses -- -- --
Total Extraordinary Income/Expenses -- -- --
Tax On Extraordinary Items -- -- --
Net Extra Ordinary Income/Expenses -- -- --
Gross Profit 0.10 0.09 0.11
Interest 0.01 0.01 0.01
PBDT 0.10 0.08 0.10
Depreciation 0.02 0.02 0.02
Depreciation On Revaluation Of Assets -- -- --
PBT 0.08 0.06 0.08
Tax 0.02 0.02 --
Net Profit 0.06 0.04 0.08
Prior Years Income/Expenses -- -- --
Depreciation for Previous Years Written Back/ Provided -- -- --
Dividend -- -- --
Dividend Tax -- -- --
Dividend (%) -- -- --
Earnings Per Share 0.95 0.74 1.31
Book Value -- -- --
Equity 0.60 0.60 0.60
Reserves 0.77 0.71 0.61
Face Value 10.00 10.00 10.00
Source : Dion Global Solutions Limited
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See 20-30% growth for Indian mkt over few years: Mobius


14.02 | 0 komentar | Read More

Eye Rs 300cr recoveries, 2.8% margins for FY15: K'taka Bank

Mangalore-based private sector lender posted a 29.16 per cent increase in net profit to Rs 121.63 crore for the quarter ended June 30, compared with Rs 94 crore in the corresponding quarter of the last year.

In an interview to CNBC-TV18, P Jayarama Bhat, MD of  Karnataka Bank said the bank managed to curtail NPAs in retail advances. Mangalore-based private sector lender posted a 29.16 per cent increase in net profit to Rs 121.63 crore for the quarter ended June 30, compared with Rs 94 crore in the corresponding quarter of the last year.

The total income of the lender increased just four per cent to Rs 1,254 crore, compared with Rs 1,203 crore in the corresponding quarter of last year.

The percentage of gross non performing assets (NPAs) has climbed to 3.43 per cent from 3.22 per cent a year ago and net non performing assets percentage has increased to 2.37 per cent from 1.96 per cent in the same quarter last fiscal. Bhat said one or two restructured accounts worth Rs 80 crore slipped into NPAs in Q1.

Going forward, he expects full year margins at 2.8 percent. The bank managed to recover Rs 102 crore in Q1, compared to Rs 24 crore same period last year. "We are targeting Rs 300 crore in recoveries for the full year," he told the channel.  

Below is the transcript of Bhat's interview to CNBC-TV18's Latha Venkatesh and Sonia Shenoy.

Latha: Let me first go to the number, which would have troubled observers most, it is the non-performing loans (NPL) number. Quarter-on-quarter (Q-o-Q) it has gone up by about 20 percent. Can you tell us whether it was one big account; what are the details?

A: The gross non-performing assets (NPA) has moved up from 3.22 to 3.43 percent and these are few sector-wise; one, in cement sector and two-three in steel sector. Otherwise, in retail advances, we have curtailed our NPAs and going forward further stick onto my guidance of 2.5 percent gross by March 2015, which is achievable because lot of assets are in the recovery stage. In fact, in the first quarter we did not go for any asset sales and thinking that we can realize more amount than rather selling -- so we have not gone for that, that is why the NPA level is at around 3.43 percent.


14.02 | 0 komentar | Read More

Syndicate Bank Q1 net up 7% but asset quality deteriorates

Asset quality of the bank deteriorated during the quarter with the gross non-performing assets (NPA) rising 35 basis points sequentially (up 59 bps year-on-year) to 2.97 percent and net NPA increasing by 32 bps Q-o-Q (up 69 bps Y-o-Y) to 1.88 percent in the first quarter of current financial year.

Moneycontrol Bureau

Public sector lender  Syndicate Bank reported a 7.3 percent growth in net profit at Rs 485.4 crore in April-June quarter compared to Rs 452.3 crore in the year-ago period driven by higher other income and fall in provisions but impacted by tax cost.

Net interest income, the difference between interest earned and interest expended, grew 1 percent on yearly basis to Rs 1,351 crore while other income (non-interest income) jumped 55 percent to Rs 456.34 crore in the quarter ended June 2014.

Asset quality of the bank deteriorated during the quarter with the gross non-performing assets (NPA) rising 35 basis points sequentially (up 59 bps year-on-year) to 2.97 percent and net NPA increasing by 32 bps Q-o-Q (up 69 bps Y-o-Y) to 1.88 percent in the first quarter of current financial year.

In absolute terms, gross NPA shot up 47.5 percent on yearly basis (up 13.7 percent on sequential basis) to Rs 5,243 crore and net NPA jumped 86 percent year-on-year (up 20.2 percent quarter-on-quarter) to Rs 3,271 crore in the quarter gone by.

During the quarter, provisions declined 4.3 percent (down 25.9 percent Q-o-Q) at Rs 468 crore compared to Rs 489 crore in the year-ago period. Tax cost of the bank surged to Rs 60.6 crore from Rs 7.11 crore year-on-year.

Capital adequacy ratio (as per Basel III norms) slipped to 10.80 percent in June quarter from 11.41 percent quarter-on-quarter and 11.49 percent year-on-year.

At 12:01 hours IST, the stock was quoting at Rs 144.50, up 0.87 percent on the BSE.


14.02 | 0 komentar | Read More

See robust growth for domestic decorative: Shalimar Paints

Written By Unknown on Rabu, 30 Juli 2014 | 14.02

Sameer Nagpal, MD & CEO, Shalimar Paints in an interview to CNBC-TV18 spoke about the company's first quarter performance and the outlook going forward.

Sameer Nagpal, MD & CEO,  Shalimar Paints in an interview to CNBC-TV18 spoke about the company's first quarter performance and the outlook going forward.

According to him the domestic decorative growth will be robust for FY1%.


14.02 | 0 komentar | Read More

SBI declines, ICICI Bank gains; Sensex remains below 26000

Larsen and Toubro topped the selling list, falling more than 5 percent followed by Sesa Sterlite with 3.5 percent after reporting weak set of results in the quarter ended June 2014. Citi downgraded L&T to a neutral and lowered target price by 4 percent to Rs 1722, saying Q1 raised multiple red flags and it removed the stock from Asia focus list.

12:18

Moneycontrol Bureau
Live Market Commentary 12:15pm Brokerage on L&T

In an interview to CNBC-TV18, Abhineet Anand, capital goods analyst, Quant Capital says the broking firm has downgraded the stock from buy to accumulate and maintains a target price of Rs 1,686/share.

"We have downgraded stock from buy to accumulate meaning there is limited upside on the stock. As far as the EPS and price target is concerned, we haven't changed any of the numbers because our numbers are still quite conservative compared to what street has been putting up. So by that our FY16 EPS is Rs 60, which is around 15-20 percent below what the street is expecting," he adds.

12:00pm Equity benchmarks remained marginally under selling pressure in noon trade with the Sensex down 53.71 points at 25937.52, and the Nifty down 17.70 points at 7731. About 1017 shares have advanced, 1405 shares declined, and 111 shares are unchanged.

Larsen and Toubro topped the selling list, falling more than 5 percent followed by Sesa Sterlite with 3.5 percent after reporting weak set of results in the quarter ended June 2014. Citi downgraded L&T to a neutral and lowered target price by 4 percent to Rs 1722, saying Q1 raised multiple red flags and it removed the stock from Asia focus list.

Shares of Tata Motors, State Bank of India, Tata Steel, Tata Power and BHEL lost 1-2 percent whereas ITC, ICICI Bank, ONGC and Gail gained 1-2 percent.

Top telecom operator Bharti Airtel rallied nearly 5 percent on the back of strong Q1 driven by a big beat on India wireless business. CLSA maintains its high-conviction buy on the stock.

11:00

Larsen and Toubro, Sequent Scientific, MCX India, Idea Cellular, Wockhardt, Bharti Airtel, Tata Motors, Infosys and SBI are most active shares on exchanges.

Read More »

10:00

Jyotivardhan Jaipuria, Bank of America Merrill Lynch expects earnings growth to improve in coming quarters. He believes that Indian market is shaping up for a big bull run.

Read More »

09:15

Engineering and construction major Larsen and Toubro plunged nearly 8 percent post Q1 earnings. Sesa Sterlite and IDFC declined 2-3 percent on weak earnings in June quarater. HUL, Sun Pharma, BHEL, Ambuja Cements and DLF lost 0.4-1.3 percent.

Read More »


14.02 | 0 komentar | Read More

Downgraded LT from buy to accumulate: Quant Capital

"As far as the EPS and price target is concerned, we haven't changed any of the numbers because our numbers are still quite conservative compared to what street has been putting up," Abhineet Anand, Capital Goods Analyst, Quant Capital said.

In an interview to CNBC-TV18, Abhineet Anand, Capital Goods Analyst, Quant Capital shared his reading and outlook on enginnering conglomorate  L&T's Q1FY15 earnings. the broking firm has downgraded the stock from buy to accumulate and maintains a target price of Rs 1,686/share. 

Below is the transcript of Abhineet Anand\\'s interview with Anuj Singhal and Ekta Batra on CNBC-TV18. For the complete interview watch the accompanying video

Anuj: What is your reaction to L&T's numbers and do you think this 6 percent fall is warranted?

A: We are expecting a 5-7 percent fall in the stock price today. So by that terms, I think it has already reacted to those numbers. Standalone numbers are largely in line with our estimates consolidated where people have been slightly disappointed based on how hydrocarbon and how other segments have performed.

Ekta: What is your call on the stock and what sort of EPS changes have you made post the numbers?

A: We have downgraded stock from buy to accumulate meaning there is limited upside on the stock. As far as the EPS and price target is concerned, we haven't changed any of the numbers because our numbers are still quite conservative compared to what street has been putting up. So by that our FY16 EPS is Rs 60, which is around 15-20 percent below what the street is expecting.

Anuj: What would be a good entry point for L&T? I know it is down 7 percent today but at what point would you say that it is a good buy?

A: I would say from Rs 1,450 levels from where our target price would have maybe 15 percent upside would be a fair price for L&T to enter.

Anuj: What is a single biggest concern that investor should have for L&T from hereon?

A: One is obviously on the hydrocarbon -- the loss is large and maybe in the coming quarters, we might not have a loss but even a breakeven type of thing brings down your overall earnings. Second also, if you try to look into the order inflow for the quarter, X of services order hasn't grown much, it has grown only 3-4 percent. Unless the order inflow comes up specifically in the infrastructure space and we cannot estimate higher revenues in FY16 and years to come by, so these are fewer things, which I perceive as a real threat.


14.02 | 0 komentar | Read More

According to the Cashew Export Promotion Council of India

Written By Unknown on Selasa, 29 Juli 2014 | 14.02

According to the Cashew Export Promotion Council of India, cashew exports from India declined compared with the last year. During May, shipments were 8397 tonn ...

According to the Cashew Export Promotion Council of India, cashew exports from India declined compared with the last year. During May, shipments were 8397 tonnes valued at Rs 365.17 crore at an unit value of Rs 434.86 per kg against 9720 tonnes valued at Rs 386.29 crore at an unit value of Rs 397.42 last year.By: Skymetweather.com


14.02 | 0 komentar | Read More

United States soybeans jumped 1 percent

United States soybeans jumped 1 percent, rising for three out of the past four sessions, in hope of strong demand following a steep decline in prices. The main ...

United States soybeans jumped 1 percent, rising for three out of the past four sessions, in hope of strong demand following a steep decline in prices. The main driver for soybeans is demand fromChinaas it has been very actively taking US soybeans. US soybean prices are being supported by expectations of strong demand.By: Skymetweather.com


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ITC Q1 profit rises 15.6%; revenue beats estimates, up 25%

Net sales grew 24.9 percent, higher-than-expected, to Rs 9,164.4 crore in the quarter ended June 2014 compared to Rs 7,339 crore in corresponding quarter of last fiscal.

Moneycontrol Bureau

Cigarette-to-hotel-to-FMCG major  ITC met street expectations with the first quarter (April-June) net profit rising 15.6 percent year-on-year to Rs 2,186.4 crore aided by strong revenue growth in cigarette, agri and paper businesses.

Net sales grew 24.9 percent, higher-than-expected, to Rs 9,164.4 crore in the quarter ended June 2014 compared to Rs 7,339 crore in corresponding quarter of last fiscal.

According to CNBC-TV18 poll estimates, analysts had expected to report net profit at Rs 2,229 crore on revenue of Rs 8,484 crore for the quarter.

More to come....


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Buy JSW Energy; target of Rs 93: Edelweiss

Written By Unknown on Senin, 28 Juli 2014 | 14.02

Edelweiss is bullish on JSW Energy and has recommended buy rating on the stock with a target of Rs 93 in its July 23, 2014 research report.

Edelweiss`s research report on JSW Energy

"JSW Energy's (JSW) ~INR3.3bn Q1FY15 PAT was in line with estimates. Healthy merchant prices in the South coupled with efficiency/incentive gains at Barmer buoyed profits. Despite the new transmission line connecting South India, management remains optimistic on merchant prices of ~INR4.5/kwh. This combined with: 1) efficiency gains at Barmer; 2) tie-up of additional ~250MW with JSW Steel from Ratnagiri plant; and 3) compensatory tariff for MSEDCL PPA are likely to enhance earnings. Hence, we are upgrading earnings estimates by 35%/40% for FY15E/FY16E, resulting in revised TP of INR93. Upgrade to 'BUY'."

"JSW reported Q1FY15 PAT of INR3.25bn with INR100mn benefit arising from revised depreciation rates though offset by INR90mn loss in the Toshiba joint venture (JV). Sustained merchant rates (>INR5/unit) in the South coupled with healthy PLF at the Vijaynagar (98%) plant aided profits. Barmer which recorded deemed PLF of 92%, reported PAT of INR950mn driven by efficiency/incentive gains. However, weak demand in the western grid kept the Ratnargiri PLF low at 68% (83% in Q1FY14). The company sold entire banked inventory of 599MUs during the quarter. Coal blending was more towards high calorific value coal (70:30). The company successfully completed the public hearing in June 2014 for 7mtpa Kapurdi expansion. Management is confident of getting final clearance by July end, which will improve lignite availability for Barmer project. Management continues to explore in-organic growth opportunities which make a strategic fit for the company. Management's guidance of merchant rates at ~INR4.5/unit, higher capacity utilisation at both Ratnagiri (likely to conclude tie-up of ~250MW with JSW Ispat to power its 1.7mtpa steel expansion) and Barmer amid benign spot coal prices and recent compensatory tariff order for MSEDCL PPA will enhance earnings. Hence, we are raising our earnings by 35%/40% for FY15E/FY16E, resulting in revised SOTP TP of INR93 (INR51 earlier). We upgrade the stock to 'BUY/SP' from 'HOLD/SP'. In-organic growth options and prior period Barmer tariff recovery pose upside risks to our valuation," says Edelweiss research report. 

For all recommendations, click here  

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

To read the full report click here


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Dollar Index can find support at 80.15 level: Angel

Angel Broking has come out with its special technical report on Dollar Index (DX). "Resistance could be seen at 82.00 levels and then final resistance will be observed at 83.50 levels. Prices can find support at 80.15 levels and below that strong support is seen at 79.20 levels", says the report.

Angel Broking's special technical report on Dollar Index (DX)

Dollar Index (DX) have clearly seen that from last couple of weeks it has been trading in the tight range of 79.70 levels to 80.80 levels but last week it has breached that range and trading above it (Check weekly chart in the pdf). As per the chart structure it breached the "Down Trend line" following with the big bullish candlesticks consecutively from last two weeks which is showing the strength. Broadly, Prices have made "Higher Top and Higher Bottom" formation after making a low of 78.91 levels in May 2014. If, we observed Dollar Index on monthly chart, we saw that it made a "Bullish Engulfing Pattern" which is also a very strong indication for change in down trend.
Indicator Analysis

Technically speaking prices are trading above its 5 and 20 weeks EMA (Exponential Moving Average) and it is showing positive crossover which is supportive for optimistic view. On the oscillator front, 14 weeks RSI is rising and currently reading at 53 and MACD is also trading in positive zone, which indicate optimism.

Key Levels
Resistance could be seen at 82.00 levels and then final resistance will be observed at 83.50 levels. Prices can find support at 80.15 levels and below that strong support is seen at 79.20 levels.

Looking at positive chart formation coupled with oscillators indicating optimism we recommend Buy in Dollar Index (DX) for the target of 82.00 – 83.00 levels.

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

To read the full report click here


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Sell NCDEX Dhaniya Sept; target of Rs 11100-10800: Emkay

According to Emkay, one can sell NCDEX Dhaniya September Contract around Rs 12500-12550 and on rallies towards Rs 12800 for target of Rs 11100 and Rs 10800 with stop loss of Rs 13500 on daily closing basis.

Emkay's Dhaniya special report

NCDEX Dhaniya continuous chart (In the pdf) is showing completion of the rally near Rs.12550. Prices started its rally since June 2010 from Rs.2570. Fibonacci projection are showing that prices should complete its recent rally at Rs12550. Correction is expected from current levels or after a slight upside.

NCDEX Dhaniya September contract is showing negative diversion in daily chart. While prices have made almost same top near Rs.12600 in last 10 days but RSI is moving lower which is indicating that any immediate rally on higher side will not sustain and there will be profit taking at higher levels.

Both RSI and MACD are also showing negative diversion.

Prices are expected to correct till Rs.11100 and Rs.10800. Prices seem to have made immediate top near Rs.12600. Prices should not give a day close above Rs.13500 to maintain the corrective outlook.

Strategy – Sell NCDEX Dhaniya September Contract at CMP12500-12550 and on rallies towards 12800 for target of 11100 and 10800 with stop loss of 13500 on daily closing basis.

For all commodities report, click here

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

To read the full report click here


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Force Motors Q1 net up 36% at Rs 19cr

Written By Unknown on Minggu, 27 Juli 2014 | 14.02

Net sales of the Pune-based company rose to Rs 538.42 crore for the first quarter, as against Rs 497.13 crore in the same period of previous fiscal, Force Motors Ltd said in a BSE filing.

Force Motors  today posted 35.87 percent increase in its net profit at Rs 19.39 crore for the first quarter ended June 30.

The company had posted a net profit of Rs 14.27 crore for the same period of previous fiscal. 

Also read: Force Motors spurts 19% as promoters raise stake in co

Net sales of the Pune-based company rose to Rs 538.42 crore for the first quarter, as against Rs 497.13 crore in the same period of previous fiscal, Force Motors Ltd said in a BSE filing.

Force Motors sells a range of vehicles, including small commercial vehicles, multi-utility vehicles (MUVs), light commercial vehicles, sports utility vehicles (SUVs) and agricultural tractors.


14.02 | 0 komentar | Read More

PM launches portal for citizens to contribute in governance

Modi said MyGov (mygov.nic.in) is a technology-driven medium that will provide citizens an opportunity to contribute towards good governance, the statement added.

Prime Minister Narendra Modi today launched a website MyGov that aims to help citizens contribute in governance by giving their opinions and views on important issues like clean Ganga or skill development. The inauguration of the people-centric platform also marks the completion of 60 days of the new government. The Prime Minister said in the past 60 days, the experience of his government was that there were many people who wanted to contribute towards nation-building and devote their time and energy, an official statement said. Modi said MyGov (mygov.nic.in) is a technology-driven medium that will provide citizens an opportunity to contribute towards good governance, the statement added. "The platform would bridge gap gulf between people and government. Democracy cannot succeed without people's participation in government and this participation should not be limited only during elections," the Prime Minister said.

Also Read: Debt MF relief:FM says no retro tax, new regime from Jul 11

Besides Modi, Communications and IT Minister Ravi Shankar Prasad, Cabinet Secretary Ajit Seth, DEITY Secretary R S Sharma were also present at the launch of the portal. National Informatics Centre (NIC) of the Department of Electronics and Information Technology (DeitY) will implement and manage the platform. There are multiple theme-based discussions on MyGov where a wide range of people can share their thoughts and ideas with the government, Sharma told reporters after the launch. "It is also an initiative to build a digital knowledge library. We will guide the people on the topics of national importance on which the government would like to know their views and ideas," he added.

The platform presents an opportunity for the citizens to both 'Discuss' and 'Do', Sharma said, adding, any idea shared by a contributor will also be discussed on the discussion forums, allowing constructive feedback and interaction. At present, there are six groups on the platform -- Clean Ganga, Girl Child Education, Clean India, Skilled India, Digital India and Job Creation. "Citizens can also volunteer for various tasks and submit their entries. These tasks would be reviewed by other members and experts. Once approved, these tasks can be shared by those who complete the task and by other members on MyGov," Sharma said.

Each group consists of online and on-ground tasks that can be taken up by the contributors. The objective of each group is to bring about a qualitative change in that sphere through people's participation, he said. "We will review the working on MyGov in three months and over time the number of groups, tasks and discussions will increase. The platform will also be used as a comprehensive knowledge repository," Sharma added.

The portal can even be extended to act like public audit platform for government projects like citizens giving feedback on status of completed infrastructure projects or availability of various social sector programmes, he said.


14.02 | 0 komentar | Read More

TOP TEN RAINIEST CITIES IN INDIA ON FRIDAY

Rain has reduced significantly across the country but Baroda in Central India received heavy Monsoon rain up to 121 mm in the last 24 hours. According to the latest weather update by Skymet Meteorology Division in India, the west coast will continue to receive fair amount of rain but coastal parts of north Maharashtra will witness subdued activity, in the absence of a fresh Monsoon surge.

Here's a look at our list of top ten rainiest cities in India on Friday:

Cities State Rainfall(in millimeters) Baroda Gujrat 121 Honnavar Karnataka 46 Kozikhode Kerala 43 Mount Abu Rajasthan 41 Ranchi Jharkhand 37 Kannur Kerala 37 Jamshedpur Jharkhand 36 Karwar Karnataka 34 Chittorgarh Rajasthan 33 Goa Goa 31  

By: Skymetweather.com


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SSPDL: Updates on change in subsidiary name

Written By Unknown on Sabtu, 26 Juli 2014 | 14.02

SSPDL Ltd has informed BSE that one of the Company's subsidiary Company (i.e., SSPDL Interserve Private Limited, has been changed to SSPDL Infratech Private Limited with effect from July 24, 2014.

SSPDL Ltd has informed BSE that one of the Company's subsidiary Company (i.e., SSPDL Interserve Private Limited, has been changed to SSPDL Infratech Private Limited with effect from July 24, 2014.Source : BSE

Read all announcements in SSPDL


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Birla Corporation's AGM on August 21, 2014

Birla Corporation Ltd has informed BSE that the 94th Annual General Meeting (AGM) of the Company will be held on August 21, 2014.

To read the full report click here


14.02 | 0 komentar | Read More

Midvalley Entertainment appoints Kamalnayan Harakchand as whole time director

Midvalley Entertainment Ltd has informed that Mr. Kamalnayan Harakchand, Director of the Company was appointed as the Whole Time Director and Mrs. Ganapathy Lalitha was appointed as additional director w.e.f. March 31, 2014.

Midvalley Entertainment Ltd has informed BSE that:1. Mr. Kamalnayan Harakchand, Director of the Company was appointed as the Whole Time Director w.e.f. March 31, 2014.2. Mrs. Ganapathy Lalitha was appointed as additional director w.e.f. March 31, 2014.3. Mr. Sundaram Yuvaraj, Director has resigned from the directorship w.e.f. March 31, 2014.4. Mr. Murugavel Karunanithi, director has resigned from the directorship w.e.f. May 29, 2014.Source : BSE

Read all announcements in Midvalley Enter


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Bajaj Auto an underperformer, target of Rs 1830: LKP

Written By Unknown on Jumat, 25 Juli 2014 | 14.03

LKP has recommended an underperformer rating on Bajaj Auto with a target of Rs 1830 in its July 18, 2014 research report.

LKP's research report on Bajaj Auto

"Bajaj's domestic sales may find it difficult to improve volumes/market share despite new launches and strategies. Concerns of cannibalization within the same brand of Discover may continue and not help a strong growth to arise. With continuation of strong competition and discounting/subvention schems from rivals continuing , we expect a subdued performance from motorcycles going forward. Though 3W sales were strong in Q1, there is an air of uncertainty surrounding permits. Exports markets other than Nigeria are showing a strong traction with Egypt and Sri Lanka leading to a recovery. We do not expect great benefits for the company from currency movement as stable government at centre has already started showing rupee appreciation. Also marketing spend associated with the new launches of the low margin Discover models may drag the margins downwards. Assumptions of higher 3W sales in FY15E due to permit opening in H2 and higher exports through new markets entry may support the margins upto some extent in FY 16E. We have cut our estimates on volumes as well as margins for FY14E/15E leading us to continue with our Underperformer rating on the stock with a target price of Rs 1,830. We arrive at a core business value of Rs 1,740, to which we add subsidiaries value of Rs 86 from KTM and Rs5 from Indonesian subsidiary. We have reduced our core business value from Rs 1790 earlier but due to rally in KTM stock price, our subsidiary value has gone up, thus maintaining our target price", says LKP research report.

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

To read the full report click here


14.03 | 0 komentar | Read More

Buy HCL Infosystems, Wockhardt, Vardhman Tex, RIL: Merani

Nooresh Merani of Analyse India recommends buying Vardhman Textiles with a target of Rs 800 in the long term and Reliance Industries with a target of Rs 1150.

In CNBC-TV18's popular show Bull's Eye, Nooresh Merani of Analyse India shares his trading strategies for the day.

One can buy HCL Infosystems . The stock has crossed above the previous top of Rs 75 to Rs 77 which is an indication of a fresh breakout. We can expect a target price of Rs 88 in the short-term and target price of Rs 120-140 in the long-term. One can buy the stock at current levels with a stoploss at Rs 75.

One can buy  Wockhardt . The stock has made a good base around Rs 550 and is about to give a breakout above Rs 650-655 levels and has been closing around same price for the last two days. We expect the stock to give a blowout move towards Rs 700 in the short-term and a target price of Rs 800-900 in the medium-term. A stoploss would be now be placed at Rs 620.

One can buy Vardhman Textiles . On the longer term chart, the stock has given cup and handle breakout over a three to four year pattern. After making a move towards Rs 520-530 the stock did a retest towards Rs 450-460 levels. It has started reversing up. We expect the stock to adapt towards Rs 550 in the short-term and longer term target price of Rs 800. One can buy the stock at current levels as well as on dips with a stoploss at Rs 460.

One can buy Reliance Industries  (RIL). Previously the stock had a top around the zone of Rs 920-950. After making a move towards Rs 1150 levels the stock has retested the zones of Rs 960 and has started reversing. We expect the stock to again head back to Rs 1150 levels. One can buy the stock at current levels with a stoploss of Rs 1000.

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


14.03 | 0 komentar | Read More

Arihant capital neutral on TCS

Arihant capital markets has recommended a neutral rating on Tata Consultancy Services (TCS) with a target price of Rs 2557, in its research report dated July 21, 2014.

Arihant capital markets' research report on  Tata Consultancy Services (TCS)

"TCS's 1QFY15 performance was better than our and consensus estimates on revenue and operating margins front. TCS reported $ revenue growth of 5.5% QoQ and 16.7% yoy. In rupee terms revenues were 2.6% higher QoQ at Rs 22,111cr. Volume growth during the quarter was at 5.66%, while realizations declined 1.09%. Business across geographies, except MEA, increased on QoQ basis. EBIT margins dipped 285bps QoQ to 26.3%, while profit after tax declined by 4.5% QoQ to Rs 5,058cr.

Utilizations levels (ex trainees) were at all time high of 85.3%, while including trainee's utilization level was at 79.8%. Employee attrition level was 12%. Company added 4,967 employees on net basis. Gross employee additions were at 15,817. Number of clients in $100mn and above category remained constant on QoQ basis at 24, however clients in $50mn to $100mn bucket increased from 136 to 144 on QoQ basis.

We believe, TCS will continue to deliver stellar performance every quarter with consistent client wins and improving global economic scenario. We estimate FY16 revenue/earnings to record a CAGR of 17%/14.5%. We have valued stock at P/E(x) of 20x (premium to its peers) it's FY16 EPS and have arrived at a fair value of Rs 2,557. Recommend 'Neutral'rating on the stock, post the run‐up in the price", says Arihant capital markets research report.

For all recommendations, click here

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

To read the full report click here


14.03 | 0 komentar | Read More

Geometric aims to meet Nasscom FY15 industry growth target

Written By Unknown on Kamis, 24 Juli 2014 | 14.03

Geometric reported a consolidated net profit of Rs 19.2 crore in Q1, up 24.6 percent from Rs 15.4 crore Y-o-Y. On a sequential basis, the net jumped 185.7 percent from Rs 6.72 crore.

We have come off a difficult year and I don't want to give optimistic figures. I am pretty confident that we are on the right track.

Manu Parpia

MD & CEO

Geometric

Software services provider Geometric  posted a consolidated net profit of Rs 19.2 crore in the first quarter, up 24.6 percent from Rs 15.4 crore in the year-ago period. The net profit, on a sequential basis, jumped 185.7 percent from Rs 6.72 crore.

Also Read: Geometric consolidated Jun '14 sales at Rs 268.85 crore

Even the consolidated revenue grew 3.3 percent to Rs 268.85 crore from Rs 260.27 crore on a year-on-year basis, however, it fell 1.6 percent from Rs 273.36 crore Q-o-Q.

In an interview to CNBC-TV18, Manu Parpia, MD & CEO, Geometric Limited, said the company has guided that they want to match the NASSCOM target (13-15 percent) for the year.

He said one of the reasons for improvement in total margins is the other income, where they done forward cover in the past. "We do not have any old forward covers left. Second, the operational efficiency is coming through and third is the return to growth, which is also having a positive impact," he added.

Below is the transcript of Manu Parpia's interview to CNBC-TV18's Ekta Batra and Anuj Singhal

Anuj: Can you tell us what kind of revenue growth would you see for the rest of the year?

A: We had guided that we want to match the Nasscom target so I see that as our objective so that is the guidance I have given. 

Ekta: There has been a significant improvement in your margins this quarter all the way to 17.3 percent versus 10.4 percent. Can you just take us through how sustainable it is and what we could see in terms of a guidance for the remaining part of the fiscal?

A: If you look at one of the reasons for the improvement in total margins is the other income where we had done forward covers in the past so that part has now been stabilized as we don't have any old forward covers left. 

The second thing is that I believe operational efficiency that we have been working on is coming through and the third element is return to growth which is also having a positive impact because as you grow you can leverage your G&A, sales and marketing cost. 

Ekta: What would be your dollar revenue guidance for the remaining part of the fiscal?

A: We are targeting to be in the range of the Nasscom guidance for the industry. The main thing is that we have come off a very difficult year and I don't want to give optimistic figures. I am pretty confident that we are on the right track. The deal size and the type of deals are improving so I see that as a very positive thing.


14.03 | 0 komentar | Read More

Insurance foreign stake hike to benefit Rel Cap: Analyst

Reliance Capital has foreign ownership up to 26 percent in its life-insurance business (Japan's Nippon picked up the stake at Rs 11,500 crore in 2012) while its general insurance arm does not have any foreign ownership.

Other than Reliance Capital, no other player may be in an immediate need for capital.

Santosh Singh

Analyst

Espirito Santo

The Cabinet today approved an amendment to the Insurance Bill, which increased the composite cap of foreign investment in the insurance sector to 49 percent from 26 percent.

The move was announced by Finance Minister Arun Jaitley in the Union Budget on July 10.

As per the legislation, total foreign ownership, including through the direct and portfolio route, will be capped at 49 percent, which means control in an insurance company would wrest in the hands of a local promoter.

Also read: Max India, Rel Cap soar on cabinet nod for FDI in insurance

"It's a good move and should help cash-starved companies raise capital," SBI Life MD and CEO Atanu Dey said. "Many foreign joint venture partners should be looking to increase their stake."

SBI Life is a 74:26 JV between State Bank of India and BNP Paribas.

The increase in foreign ownership cap could also further boost the prospects of listing of non-listed insurance companies such as SBI Life. However, Dey said no such decision had been taken on whether the insurer would be listed.

However, not many companies may make a beeline for raising funds in the wake of the Cabinet move, Santosh Singh of Espirito Santo told CNBC-TV18.

"Other than Reliance Capital , no other player may be in an immediate need for capital," he said. "But over the long term, we believe  Max India could be a beneficiary.

Reliance Capital has foreign ownership up to 26 percent in its life-insurance business (Japan's Nippon picked up the stake at Rs 11,500 crore in 2012) while its general insurance arm does not have any foreign ownership.

The Indian insurance industry consists of 52 companies of which 24 are in life insurance business and 28 are non-life insurers. In FY13, the two segments under-wrote premiums worth up to Rs 2.78 lakh crore and Rs 63,000 crore, respectively.

Rel Capital stock price

On July 24, 2014, at 12:31 hrs Reliance Capital was quoting at Rs 613.10, up Rs 23.05, or 3.91 percent. The 52-week high of the share was Rs 668.40 and the 52-week low was Rs 290.00.


The company's trailing 12-month (TTM) EPS was at Rs 16.62 per share as per the quarter ended March 2014. The stock's price-to-earnings (P/E) ratio was 36.89. The latest book value of the company is Rs 467.67 per share. At current value, the price-to-book value of the company is 1.31.


14.03 | 0 komentar | Read More

Cairn's $1.25bn loan to Vedanta: 3 key questions unanswered

Raising concerns of adequate cash utilization Hetal Dalal, COO of proxy firm Investor Advisory Services India Ltd (IiAS) is concerned by the levels of disclosure made by the company with respect to this transaction

Private oil and gas player  Cairn India has extended a loan of USD 1.25 billion (nearly Rs 7,500 crore) to its parent Vedanta for a two-year period as a part of the former's treasury operations.

Raising concerns of adequate cash utilization Hetal Dalal, COO of proxy firm Investor Advisory Services India Ltd (IiAS) is concerned by the levels of disclosure made by the company with respect to this transaction. "The transaction has taken place without shareholders knowing it, is a concern," she said in an interview to CNBC-TV18.

Dalal advised shareholders to raise the issue of disclosure quality with the management. She said that shareholders need to demand higher disclosures from management and should find out what is the usage of these funds. Also, they need to quiz the management as to why is the company not investing in its own business operations.

At 12:07 hrs Cairn India was quoting at Rs 326.80, down Rs 18.90, or 5.47 percent .

Transcript to follow shortly

Cairn India stock price

On July 24, 2014, at 12:32 hrs Cairn India was quoting at Rs 324.95, down Rs 20.75, or 6 percent. The 52-week high of the share was Rs 385.00 and the 52-week low was Rs 286.85.


The company's trailing 12-month (TTM) EPS was at Rs 39.77 per share as per the quarter ended June 2014. The stock's price-to-earnings (P/E) ratio was 8.17. The latest book value of the company is Rs 206.73 per share. At current value, the price-to-book value of the company is 1.57.


14.03 | 0 komentar | Read More

Polaris Q1 profit slips 15.6% to Rs 38.3 cr, OPM up 30 bps

Written By Unknown on Rabu, 23 Juli 2014 | 14.03

Consolidated net sales declined 2.8 percent to Rs 601.8 crore in first quarter of current financial year 2014-15 from Rs 619.4 crore in last quarter of previous financial year.

Moneycontrol Bureau

Midcap IT company  Polaris Financial Technology disappointed the street by reporting a consolidated net profit at Rs 38.3 crore in April-June quarter, down 15.6 percent compared to Rs 45.4 crore in previous quarter due to fall in revenues and higher tax cost.

Consolidated net sales declined 2.8 percent to Rs 601.8 crore in first quarter of current financial year 2014-15 from Rs 619.4 crore in last quarter of previous financial year.

"The challenge during the last quarter has been to strike a balance between investing for growth and managing costs. We have ensured that we continued to generate cash, while ensuring investments to build the base required for each line of business to grow, particularly in the areas of sales and marketing," said S Swaminathan, CFO.

However, operating profit increased marginally to Rs 49 crore from Rs 48 crore and margin expanded by 30 basis points to 8.1 percent on sequential basis.

At 12:14 hours IST, the stock was quoting at Rs 218.80, down Rs 12.85, or 5.55 percent on the BSE.


14.03 | 0 komentar | Read More

Bank of Baroda may test Rs 900: Sudarshan Sukhani

Sudarshan Sukhani of s2analytics.com is of the view that Bank of Baroda may test Rs 900 in the short term.

Sudarshan Sukhani of s2analytics.com told CNBC-TV18, "Public sector undertaking (PSU) banks are looking up after a long time. I think we can let the market go but I would expect at least Rs 900 in the short-term for Bank of Baroda  (BoB)."

At 12:09 hrs Bank Of Baroda was quoting at Rs 855.40, up Rs 23.55, or 2.83 percent. It has touched an intraday high of Rs 863.50 and an intraday low of Rs 839.40.

Disclosure: Analyst does not have any positions in the stock.


14.03 | 0 komentar | Read More

Buy Godrej Prop, Biocon, JB Chemicals, FDC: Nooresh Merani

Nooresh Merani of Analyse India recommends buying FDC for a target of Rs 160 and JB Chemicals for a target of Rs 190.

In CNBC-TV18's popular show Bull's Eye, Nooresh Merani of Analyse India shares his trading strategies for the day.

One can buy Godrej Properties  for a target price of Rs 265 and keep a stoploss at Rs 230.

One can buy Biocon  for a target price of Rs 560 and keep a stoploss at Rs 500.

One can buy JB Chemicals  for a target price of Rs 190 and keep a stoploss at Rs 170.

One can buy FDC  for a target price of Rs 160 and keep a stoploss at Rs 130.


14.03 | 0 komentar | Read More

Mkt must correct 5-10% to become attractive: Blackridge

Written By Unknown on Selasa, 22 Juli 2014 | 14.02

Arindam Ghosh, MD & CEO, Blackridge Capital Advisors believes market should correct another 5-10 percent in the near-term to become more attractive and the valuations a lot more supportive. According to him, if the market consolidates around 8-10 percent, it is a good entry point.

In an interview to CNBC-TV18, Ghosh says there is lot of excitement and buzz in the Indian market currently due to support from global markets, improved macros and an outstanding Budget, will give the necessary push for infrastructure and manufacturing, 

"Monsoon was a big threat and the fears have, to a certain extent, started to receipt with a pickup in monsoon, but we will have to wait and see how it actually plays out over the course of the next two months," he adds.

On specific sectors, Ghosh recommends waiting for a better entry point for telecom stocks.  However, gas pricing announcement will determine the move in oil and gas space, he adds.

Below is verbatim transcript of the interview:

Q: Do you think the post Budget correction or the mini correction is over and is the market ready for the next upmove? What would be the key triggers going forward?

A: It is always very difficult to predict short-term trends in the market. Budget was probably the biggest event with the new government in place and the general expectation was that once the event was out of the way market would get into some kind of a prolonged and protracted consolidation phase which has not been really the case.

We have had a shallow consolidation, I wouldn't call it a correction. So the going has been good and one should just sit back and relax and enjoy the ride. But having said that, I think from a market point of view it is important that we have a 5-10 percent correction which would make the market a lot more attractive and the valuations a lot more supportive.

Q: What could be the trigger for that correction because we have been looking both inwards and outwards? Crude moved up to USD 115/barrel but immediately corrected back and domestically also whatever disappointment you had on Budget, that also the market has taken in its stride. So, what do you think would be a catalyst for any kind of correction?

A: It is really difficult to say because the global environment today is a lot more supportive than what it was in the past. We have the occasional geopolitical fear which then leads to some kind of correction in the emerging markets. But these are largely restricted to very specific regions and therefore, not really something which can really trigger significant risk-off kind of an environment.

So the global environment along with the fact that we had a fair amount of global liquidity slouching around, I don't see any kind of negative news flow or figure which can pull the markets down. Domestically, the fact that India looks lot better in terms of its macros, the fact that we have an outstanding Budget which is really pro-growth with a lot of things to give the necessary push for infrastructure and manufacturing, I think there is lot of excitement and buzz around India at the current moment. That would keep continuing.

Monsoon was a big threat and the fears have to a certain extent started to receipt with a pickup in monsoon, but we will have to wait and see how it actually plays out over the course of the next two months.

From an earnings point of view, I don't see either on the upside or on the downside any major shocks or surprises. We would get into some kind of sideward drift and the market can stay ranged.

You will have some days of very listless day on day market movements and then as and when some major policy announcements happen, you can see the market again reacting very positively to that. But the negatives are really limited at this point in time. So from that point of time we really don't see significant downside from current levels but if there is anything that can really pull the market down by about 8-10 percent, that would be a good entry point for a whole lot of investors because it is not necessary that all great companies are great stocks.

Once we understand that basic investment philosophy, we would really wait to see if there is some kind of price correction happening in some of the stocks which are really good quality high beta stocks but which have actually run-up quite a bit.

Q: Considering that we have this bullish sentiment in our market, would you then take an opportunity to possibly accumulate on telecom stocks? The telecom stocks have marginally performed on year-to-date basis.

A: It is actually early days. We will have to see how this entire payment platform actually plays out, how incrementally it adds to the revenues of these companies. The sector per se on their own has its own inherent issues, competition around pricing etc. Today, you have a much wider choice and you keep sliding up and down the capitalisation curve whenever in the large cap or midcap. There are enough opportunities beyond certain sectors where you can still keep a wait and watch neutral stance and see how it evolves over the next couple of quarters.


14.02 | 0 komentar | Read More

Zinc at key level: Sharekhan

According to Sharekhan, one can expect a move of Rs 2.5 to Rs 4 on break-out in either direction (upside level of Rs 139 and downside level of Rs 137.50).

Sharekhan's report on Zinc

As one can see from the adjacent chart, MCX zinc is trading in a triangle chart pattern on the hourly chart. A break-out in either direction could provide a good trading opportunity. A narrow Bollinger Band on the price also indicates a dicey scene for the commodity. The other technical observations are: the Relative Strength Index is valued at 50, the Moving Average Convergence Divergence is valued at 0.008, the Positive Directional Momentum Indicator is valued at 24 and the Negative Directional Momentum Indicator is valued (21). One can expect a move of Rs 2.5 to Rs 4 on break-out in either direction (upside level of Rs 139 and downside level of Rs 137.50).

For all commodities report, click here

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

To read the full report click here


14.02 | 0 komentar | Read More

Rupee may trade on mixed note today: Angel

According to Angel Broking, Indian Rupee is expected to trade on a mixed note today on the back of weakness in the DX along with upbeat global market sentiments will support an upside in the currency.

Angel Broking's report on Rupee

The Indian Rupee traded on a flat note and appreciated marginally around 0.1 percent in yesterday's trading session. The currency appreciated on the back of selling of dollar by foreign banks.

Further, upbeat domestic market sentiments supported an upside in the currency. Additionally, inflow of foreign funds in equities and debt market continued with positive movement in the currency.

However, dollar demand from state run banks for oil and defense related payments capped sharp gains in the currency. Escalating tensions between Russia and the West kept a check on the currency. The Indian Rupee touched an intra-day high of 60.16 and closed at 60.24 on Monday.

Outlook
From the intra-day perspective, we expect Indian Rupee to trade on a mixed note today on the back of weakness in the DX along with upbeat global market sentiments will support an upside in the currency. Inflow of foreign funds in equities and debt markets will act as a positive factor. While on the other hand, dollar demand from state run banks on behalf of oil importers and defense purposes will exert downside pressure in the Indian Rupee.

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

To read the full report click here


14.02 | 0 komentar | Read More

Sensex, Nifty firm; BSE Midcap, Smallcap gain 1%, RIL up 3%

Written By Unknown on Senin, 21 Juli 2014 | 14.02

12:26

Moneycontrol Bureau
Live Market Commentary Equity benchmarks remained steady in noon trade with the Sensex gaining 117.43 points to 25758.99 and the Nifty rising 30.55 points to 7694.45 supported by banks and FMCG stocks. Index heavyweight Reliance Industries held its morning gains, up nearly 3 percent after April-June quarter earnings. Consolidated net profit of the company increased to Rs 5,957 crore from Rs 5,881 crore on sequential basis.

Shares of HDFC, ITC, ICICI Bank, HDFC Bank, Axis Bank and Maruti Suzuki gained 0.5-1.7 percent whereas Infosys, L&T, Hindalco Industries, Tata Motors, ONGC, Wipro, Gail and Tata Power fell 0.4-2 percent.

The BSE Midcap and Smallcap indices outperformed benchmarks, up 1 percent each. Advancing shares outnumbered declining ones by a ratio of 1641 to 918 on the BSE.

Among midcaps, MCX India shot up 10 percent as Kotak Mahindra Bank will buy 15 percent stake in the company from Financial Technologies for Rs 459 crore. Delta Corp, Gujarat Flourochem, Century Plyboards and Eros International gained 5-8 percent.

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


14.02 | 0 komentar | Read More

See 9% volume growth for Ultratech for FY15: Quant

In an interview to CNBC-TV18, Mangesh Bhadang, Cement Research Analyst at Quant Broking, said the Q1 was a disappointment on the EBITDA front, but volumes were surprisingly high, which was a positive.

Ultratech Cement  has posted a weak set of numbers, with its margins missing the estimates in the first quarter . The Aditya Birla Group flagship has reported a little over 6 percent dip in its consolidated net profit at Rs 628 crore on lower prices and higher variable costs.

In an interview to CNBC-TV18, Mangesh Bhadang, Cement Research Analyst at Quant Broking, said the Q1 was a disappointment on the EBITDA front, but volumes were surprisingly high, which was a positive.

Bhadang feels the management commentary on H2FY business prospects are encouraging and expects a 9 percent volume growth for Ultratech for FY15.

Below is the transcript of Mangesh Bhadang's interview to CNBC-TV18's Ekta Batra and Anuj Singhal

Ekta: Can you tell us what your EBITDA estimate for the remaining part of FY15 would be considering that Q1 was a disappointment?

A: Q1 was a disappointment on the EBITDA front but if you look at the positive side the volumes were surprising high. So we have had almost 18 percent growth in volumes which are extremely high and the numbers on bottom-line were better than what we were expecting. 

Secondly this quarter they have done around Rs 846 as EBITA per tonne compared to what we were expecting. So there is concern because your realizations have declined by 3.5 percent year-on-year but on a full year basis they will be able to do above Rs 900 EBITA per tonne which should be decent given the scenario.


14.02 | 0 komentar | Read More

Revenue collection expected to exceed target in FY15: FM

The government estimates to garner Rs 13.64 lakh crore from both direct and indirect tax collection during the current fiscal. During 2013-14, tax collection fell short of target by a whopping Rs 77,000 crore.

After missing target in the last financial year, the government today exuded confidence that tax collection during the current fiscal would exceed budget estimate of Rs 13.64 lakh crore. "Revenue collection targets fixed for 2014-15 will not only be achieved but also surpassed," Finance Minister Arun Jaitley said.

He was addressing the 30th annual conference of Principle Chief Commissioners, Principle Director Generals (DGs), Chief Commissioners & DGs of Income Tax Department here. Jaitley emphasised that the credibility of Income Tax department is its greatest asset. "Credibility of income tax department is its greatest asset, that's why highest standards of ethics are expected from officers of the department," PIB said in a tweet.

The government estimates to garner Rs 13.64 lakh crore from both direct and indirect tax collection during the current fiscal. During 2013-14, tax collection fell short of target by a whopping Rs 77,000 crore. The government collected Rs 11.58 lakh crore against the budget estimate of Rs 12.35 lakh crore. There are doubts about the meeting of indirect tax collection target for the current fiscal as there is slowdown in the economy. On income tax front, however, there is possibility of surpassing target.

Also Read: Fixing NPA problem of banking sector, step by step

Last week, Revenue Secretary Shaktikanta Das had said that the government would be able to achieve the direct tax collection target but the real challenge is with regards to indirect taxes. "It is a challenge, there is no doubt about that, but
with a number of steps taken by the government to revive the economy, particularly manufacturing, reviving investment sentiment... we expect manufacturing sector, the entire industrial sector to get back in buoyant note than previous year," he had said.


14.02 | 0 komentar | Read More

Will loan growth drag HDFC Q1 earnings?

Written By Unknown on Minggu, 20 Juli 2014 | 14.02

Credit Suisse estimates that HDFC PAT may be lower at 12 percent on yearly basis. It says in a report that HDFC's operational performance will remain healthy with a continued traction in retail mortgage growth (20 percent YoY) and stable spreads.

Moneycontrol Bureau

Housing finance company  HDFC will announce its April-June quarter results on July 21.  According to Credit Suisse HFCs will continue strong loan growth trajectory with 18-20 percent  growth annually. It feels that overall  spreads  should remain stable as  bond issuances  were  limited  in  the initial part of the quarter due to the ambiguity  surrounding  the  creation  of  disaster risk reduction  (DRR) impacting borrowing costs slightly but issuances picked up in June.

However, the brokerage estimates HDFC PAT may be lower at 12 percent on yearly basis. It says in a report that  HDFC's  operational  performance  will remain  healthy  with  a continued traction  in  retail  mortgage  growth  (20 percent YoY) and stable spreads.

"We expect loan growth to remain low, in what could be the final stages of a prolonged  downturn  in the truck segment. Overall net interest income (NII) may stay flat year-on-year," it says in a report. 

However, non-performing loans are expected to remain flat on a sequential basis. NPLs usually rise in the June quarter, but since  the  provisioning  on  new NPLs is low it is likely that credit costs  stay  flat QoQ. This would be the second quarter of renewed focus on collections by the company, and it would be interesting to see the results," it elaborates.

Meanwhile, CLSA is positive on HDFC first quarter performance. It expects income to grow at a healthy rate of 16 percent year-on-year led by growth in loans and stable spreads. Asset quality should remain strong and NPL levels should be near the existing range of 70-80 basis points of loans.

"Overall, this will drive 16 percent growth in pre-tax profits. However, the recent change in regulations on deferred tax liability can increase the effective tax rate for the company by about 500 bps, from 27 percent in 1QFY14 to 32 percent in 1QFY15, which will mean that reported net profit growth will be near 8-10 percent," it says.

On Friday, the stock closed at Rs 981.05, up Rs 7.60, or 0.78 percent on the BSE.


14.02 | 0 komentar | Read More

Ultratech Cement Q1 net dips 6% to Rs 628 crore

On a consolidated basis, net sales, however, grew to Rs 5,989 crore compared to Rs 5,272 crore in the corresponding period of the previous year.

Ultratech Cement  today reported a little over six per cent dip in its consolidated net profit for the first quarter of the current fiscal at Rs 628 crore on lower prices and higher variable costs.

The Aditya Birla Group flagship had clocked a net profit of Rs 669 crore during the April-June quarter of the last fiscal,it said in a statement.

"During the quarter, domestic cement sales volume improved by 14 per cent over the corresponding period in FY14.

However, prices continued to remain under pressure. Variable costs increased by 3 per cent mainly on account of increase in prices of petcoke and input material," Ultratech said.

On a consolidated basis, net sales, however, grew to Rs 5,989 crore compared to Rs 5,272 crore in the corresponding period of the previous year.

The combined cement and clinker sales during the quarter stood at 11.70 million tonnes (MT) compared to 10.08 MT in the same period a year ago. The sale of white cement and wall care putty increased marginally to 2.57 lakh tonnes from 2.50 lakh tonnes.

On the outlook for the cement sector, it said, "Cement demand is slated to grow around 7-8 percent, with expected double digit growth in the second half of the current fiscal. The key value drivers will be renewed government focus on housing and infrastructure spending."

During the quarter, Ultratech completed the acquisition of the Gujarat Units of Jaypee Cement Corporation Limited, comprising an integrated Unit at Sewagram and a grinding Unit at Wanakbori with a combined capacity of 4.8 mtpa.

With this acquisition, the cement capacity of the company stands at 58.8 mtpa in India.


 


14.02 | 0 komentar | Read More

Top 5 problems faced by Delhi during Monsoon

Monsoon has finally covered entire India, with rain being observed at many places. Though this has pulled down temperatures and made the weather extremely pleasant, there are several adversities that come along with Monsoon. 

1. Bugs and Insects

The pesky creepy crawly bugs, no matter what you do to eradicate them, find their way into your life. One may find them in weirdest places possible like inside Cars, creases of clothes, and also getting squished on the car windscreen and die.

2.  Water logging in Underpasses

For Delhiites Not a single day passes by, without dreading a commute through the infamous Moolchand underpass and many others in the city especially during monsoon season, as  the water starts logging in the underpasses.

3. Power Outages and Humidity

Power outages and humidity are a match made in hell. There has been scanty rain in Delhi since the arrival of Monsoon season. The humidity is high and with power cuts the sultry weather becomes unbearable. Don`t forget the pit stains and the stench.

4. Vikram breakdown

The breakdown of vehicles is a common sight in Delhi during the Monsoon in India. Slow moving Vikrams and Tata Aces carrying heavy load add to traffic jams caused by breakdowns on Delhi roads.

5. Vegetables prices

Every year during Monsoon vegetables get stupendously expensive, especially the king and queen of Indian Kitchen- onions and tomatoes. Besides bringing tears to your eyes, onions are also burning a hole in the pockets of the common man.

picture courtesy- daily mail & Nadeem Naqvi 

By: Skymetweather.com


14.02 | 0 komentar | Read More

Birla Sun Life Emerging Leaders Fund - Series 4 floats on

Written By Unknown on Sabtu, 19 Juli 2014 | 14.02

Birla Sun Life Mutual Fund has launches Birla Sun Life Emerging Leaders Fund - Series 4, a close ended equity scheme with the primary objective to generate long-term capital appreciation by investing predominantly in equity and equity related securities of small & mid cap companies.

Birla Sun Life Mutual Fund has launched a new fund as Birla Sun Life Emerging Leaders Fund - Series 4, a close ended equity scheme. The primary objective of the scheme is to generate long-term capital appreciation by investing predominantly in equity and equity related securities of small & mid cap companies.

The new fund offer (NFO) open for subscription from July 18 and will closes on July 31, 2014. The new fund offer price for the scheme is Rs 10 per unit.

The scheme offers growth and dividend option with payout facility. 

The minimum application amount is Rs 5000 and in multiples of Rs 10 thereafter. 

The entry and exit load charge will be Nil for the scheme. 

The scheme would invest 80%-100% of assets in equity and equity related securities out of which: Small & Mid Caps: 60%-100%, other than Small & Mid Caps: upto 40% with high risk profile and invest upto 20% of assets in cash, money market and debt instruments with low risk profile. 

The benchmark Index for the scheme is S&P BSE Midcap Index. 

The fund manager of the scheme will be Mahesh Patil and Milind Bafna.


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Birla Sun Life MF announces dividend under its 2 Schemes

Birla Sun Life Mutual Fund has announced dividend under Birla Sun Life Midcap Fund and Birla Sun Life Small & Midcap Fund, the record date for dividend is July 24, 2014.


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The gains in United States soybean futures were capped by forecasts

The gains in United States soybean futures were capped by forecasts of crop-friendly weather across the US Midwest, which is likely to see cooler and wetter co ...

The gains in United States soybean futures were capped by forecasts of crop-friendly weather across the US Midwest, which is likely to see cooler and wetter conditions next week. The USDA now expects the US soybean harvest to grow by 4.5 percent to a record 3.8 billion bushels, topping expectations.By: Skymetweather.com


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Ukraine, Russia trade blame over Malaysian plane tragedy

Written By Unknown on Jumat, 18 Juli 2014 | 14.02

Ukraine and Russia traded accusations after US intelligence officials said a surface-to-air missile hit a Malaysia Airlines passenger plane carrying 298 people on Thursday.

US Vice President Joe Biden said the plane crash was "not an accident," adding that it was "blown out of the sky." Officials were divided over the origin of the missile that hit the plane, which crashed over eastern Ukraine.

In a CNBC interview, retired US Gen. Barry McCaffrey said, "This was a major strike, a deliberate strike to get an aircraft at that altitude."

The Ukrainian government, the pro-Russia separatists fighting in the region and Russian President Vladimir Putin denied responsibility for downing the aircraft. On his Facebook page, Ukraine's minister of internal affairs, Anton Gerashchenko, claimed that terrorists struck down the plane under Putin's orders.

Read More Malaysia Airlines Crash: Images from the ground

Putin said Ukraine bore responsibility for the downing of the plane, adding it would not have happened if Kiev had not resumed a military campaign against separatists.

Malaysia Airlines said Ukrainian aviation authorities told the company they had lost contact with Flight MH17, a Boeing 777 en route from Amsterdam to Kuala Lumpur, about 30 kilometers (20 miles) from Tamak waypoint, which is 50 kilometers (30 miles) from the Russia-Ukraine border.

 "To bring down an airliner from 33,000 feet you need a good air defense weapon, not just a missile itself and also the radar. That says Russian, and that says to me either a separatist element or the Russians themselves," Retired Col. Ken Allard told CNBC.

Ukraine also has weaponry capable of hitting the passenger plane, Doug Richardson, editor of IHS Jane's Missiles & Rockets, said in a note.

But he noted, "The crew of the Command Post vehicle (containing the data display and control system for the launcher) are likely to have a good idea of the local air activity."

Read More Asia shares mostly lower on geopolitics; Malaysia Airlines sinks

 Other types of launchers can be operated in "target-detection mode," automatically engaging targets in the radar's forward "field of view," he said.

Ukrainian President Petro Poroshenko said his country's armed forces did not take action against any airborne targets. "We do not exclude that this plane was shot down, and we stress that the armed forces of Ukraine did not take action against any airborne targets," he said.

Some noted that the strike may not have been deliberate.

 "I just can't imagine the Ukrainian government, Russian government or the rebels wanting to shoot down another country's airliner with all those foreign nationals abroad. I think in all probability, it was accidental," Alan Diehl, a former National Transportation Safety Board investigator, told CNBC.

"This is going to be a real whodunit situation now that everybody is disavowing responsibility," Diehl said. "The good news is that US may have satellite assets around that border and we may be able to spot where, when and who fired that missile."


 While the plane's route was over an area that has seen severe fighting between Ukrainian forces and pro-Russia separatist rebels in recent days, the carrier noted that the flight path had been declared safe and unrestricted by the International Civil Aviation Organisation. The International Air Transportation Association also noted the airspace wasn't subject to restrictions, MAS said.

A great deal of passenger airline traffic usually travels through the area on a daily basis, but many international carriers have now announced they will be changing their routes. Two other flights -- one from Singapore Airlines and one from Air India -- may have been within 30 kilometers of MH17 at the time it disappeared from radar, according to data from FlightRadar24, a website providing maps of real-time air traffic.

There were unconfirmed reports that the crashed plane's flight recorder (the so-called black box) had been located. According to a Dow Jones report, Ukrainian officials claim rebels have taken possession of the black boxes, complicating investigation efforts.

 US President Barack Obama emphasized in a phone call with Poroshenko that all evidence from the crash site must remain in place until international investigators are able to examine all aspects of the tragedy. Meanwhile, UN Chief Ban Ki-Moon urged a "full and transparent international investigation" into the crash.

Pro-Russian separatists said they would have up to a three-day ceasefire in Eastern Ukraine to allow for recovery work at the site of the downed airliner, according to a RIA news agency.

 Malaysia Airlines said there were at least 154 Dutch, 27 Australians, 43 Malaysians, including 15 crew and two infants, 12 Indonesians including one infant, nine Britons, four Germans, four Belgians, three Filipinos and one Canadian aboard the Boeing 777 jet.

There were a further 41 passengers whose nationality was not yet known. MAS said it would release the passenger manifest after notifying next of kin. The Australian newspaper reported that 108 of the passengers were to attend an AIDS conference in Melbourne, Australia.

Calling the downed plane a "terrible tragedy," Obama said the US will offer any help it can to determine what happened and why.

Malaysian Prime Minister Najib Razak said he was shocked by the reports and was also planning an investigation.

Boeing said it is aware of media reports and is gathering more information on the situation.

On Wednesday evening, a Ukrainian fighter jet was shot down by an air-to-air missile from a Russian plane, Ukrainian authorities said Thursday, adding to what Kiev says is mounting evidence that Moscow is directly supporting the separatist insurgents in eastern Ukraine. Security Council spokesman Andrei Lysenko said the pilot of the Sukhoi-25 jet hit by the air-to-air missile was forced to bail after his jet was hit.

Pro-Russia rebels, meanwhile, claimed responsibility for strikes Wednesday on two Ukrainian Sukhoi-25 jets. The Ukrainian Defense Ministry said the second jet was hit by a portable surface-to-air missile, but added the pilot was unscathed and managed to land his plane safely.

In the markets, Malaysian Airline System shares fell as much as 17.8 percent before retracing some losses to trade around 20.5 sen, off around 8.9 percent in intraday trade.


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Sand Plast's board meeting on July 22, 2014

Sand Plast (India) Ltd has informed BSE that a meeting of the Board of Directors of the Company will be held on July 22, 2014, inter alia, to allot 18,00,000 equity shares to Ratna Commercial Enterprises Private Limited.

Sand Plast (India) Ltd has informed BSE that a meeting of the Board of Directors of the Company will be held on July 22, 2014, inter alia, to allot 18,00,000 equity shares to Ratna Commercial Enterprises Private Limited.Source : BSE

Read all announcements in Sand Plast


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Pantaloons jumps 4% ahead of board meet today

The board will meet to consider fund raising proposal for the company, including rights issue.

Moneycontrol Bureau

Shares of  Pantaloons Fashion & Retail jumped another 4 percent intraday on Friday ahead of a board meeting today. The board will meet to consider fund raising proposal for the company, including rights issue.

Meanwhile, a media report indicates that Kumar Mangalam Birla is planning to restructure the group's retail business and create one conglomerate.

The reports say, quoting sources, KM Birla is thinking of de-mergeing Fashion & Lifestyle vertical from Aditya Birla Nuvo and Madura Garments. Pantaloons Fashion & Retail, Jayashree and More are likely to be merged as part of the process.

At 12:22 hrs Pantaloons Fashion & Retail was quoting at Rs 128.40, up Rs 4.60, or 3.72 percent.


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Interact with CNBC-TV18: Here's how ICICI Pru AMC is playing banks metals

Written By Unknown on Kamis, 17 Juli 2014 | 14.02

Manish Gunwani of ICICI Pru AMC said that the banks that have higher infrastructure exposure and which have expertise in lending to infrastructure would benefit more.

Moneycontrol Boarders Shantanu Prakash and Azeem posted questions on the moneycontrol messageboard. Shantanu Prakash wanted to know which banks would be the biggest beneficiaries of the new infrastructure lending norms and Azeem asked if it is a good idea to bet on metal stocks at the moment.

Talking about banks, Manish Gunwani of ICICI Pru AMC said that the banks that have higher infrastructure exposure and which have expertise in lending to infrastructure would benefit more. There is a set of banks which are retail banks and a set of banks which have exposure to corporate lending and infrastructure. So from this change obviously the latter would benefit more.

While answering Azeem's query, Gunwani said, "China is always a big factor for metals but we think there are some select metal stocks, which also have exposure to the domestic economy. So as long as metal prices don't change a lot, some of these metal stocks can do well, also getting a tailwind from the Indian economy. So we will definitely look at that space".


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Why compulsory demat is a step in right direction

Moneycontrol Bureau

In what will be a major capital market reform, the Securities and Exchange Board of India (SEBI) is planning to come out with a step mandating shares to be compulsorily held in the dematerialized, or electronic, form, Business Standard reported today quoting sources.

The move, which is expected to be rolled out by the end of the financial year, will affect about 21 billion shares worth about Rs 2.3 lakh crore in about 4,000 companies, the newspaper said.

Demat as a concept was introduced in 1996 and did away with the need for keeping and maintaining physical certificates of shares held in companies by having the shares transferred to depositaries that were set up under the Depositary Act.

The move was quickly adapted by Indian investors – currently about 99.9 percent of trading on both BSE and NSE is done in electronic shares – as they found relief from the old system that was riddled with problems such as delayed postal deliveries of shares, inability to sell due to mismatched or forged signatures, the certificates suffering physical damage and so on.

Shares in the A and B group of exchanges now compulsorily trade in demat form though exchanges provide an additional trading window for small investors (up to 500 shares), which gives a one-time facility to sell physical shares that are in compulsory demat list. The buyer of these shares has to demat such shares before further selling.

But even then, many investors have held on to physical shares, either out of disinterest in taking active participation in capital markets, because the physical shares have suffered damage -- and as a result difficult to liquidate – or because they have trouble inheriting shares held in ancestors' names.

For instance, as many as nearly 257 crore shares in tobacco-to-soaps firm  ITC (amounting to a total value of about Rs 89,000 crore), or nearly one-third its total float of 793 crore shares are held in physical form. A part of this is likely held by the government, which owns 11.3 percent in the company through the SUUTI and various state-run insurers.

Currently, SEBI has made it compulsory for investors to hold shares in demat form though the move to make it mandatory for non-promoter investors has been put off in the past.

Even as the move would mark the move towards digitization of records and bring down inefficiencies, cases of fraud and troubles faced by investors, it remains to be seen the SEBI will tackle cases of missing records or in cases of disputed inheritances.

At the same time, it will also mean higher costs for investors, who will have to pay more by way of annual depository and other charges even if a depositary-participant account for holding demat shares is not active or does not have any holdings.


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How liberalising ADR/GDR may prove costly for bond mkt

According to India Ratings, for an issuer with high quality credit profile, the foreign currency bond may appear more lucrative on an un-hedged basis than raising debt capital from the domestic debt market.

Moneycontrol Bureau

In an attempt to boost capital market, finance minister Arun Jaitley in his maiden Budget, proposed liberalising the ADR (American Depository Receipt)/GDR (Global Depository Receipt) regime to allow issuance of depository receipts on all permissible securities, a move that will encourage Indian bond issuers to raise more foreign currency bonds, says India Ratings & Research (Ind-Ra).

"The proposal to allow international settlement of Indian debt securities would further ease out the process. Indian debt issuers, who have been increasingly lured by foreign currency debt, may re-evaluate the option of tapping domestic bond markets over foreign capital markets," the rating agency said in its recent report.

Modi completes 50 days in office: 'Acche din' just a hope?

According to India Ratings, post this move; for an issuer with high quality credit profile, the foreign currency bond may appear more lucrative on an un-hedged basis than raising debt capital from the domestic debt market.

These foreign currency borrowings, if resorted to without hedging for currency and interest rate risks, provide significant savings to finance costs of companies in the short term. However, the finance cost gains are likely to be more limited if the foreign currency debt is hedged for the related risks, the report explains.

Hence, corporates with high credit quality, who tapped the domestic debt capital market to raise funds at rates lower than the base rate may now be most potential candidates for tapping the ADR/GDR route to raise debt funds from abroad, it adds.

Though moderate but, the Indian bond market has shown encouraging growth post 2010. This coincided with the introduction of base-rate by RBI from July 2010. But, Jaitley's proposal cost of rasing funds through ADR and /GDR would cheapen and despite the constraints posed by the RBI's external commercial borrowing (ECB) guidelines a significant debt volume could flow out of Indian debt markets,  Ind-Ra adds.


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Modi likely to announce new-look Planning Commission soon

Written By Unknown on Rabu, 16 Juli 2014 | 14.02

Prime Minister Narendra Modi is likely to announce a new-look Planning Commission soon. The new role of the Planning Commission would be that of an advisory role than it has at present of a resource allocation. CNN-IBN's Marya Shakil has more details.

Prime Minister Narendra Modi is likely to announce a new-look Planning Commission soon. The new role of the Planning Commission would be that of an advisory role than it has at present of a resource allocation. CNN-IBN's Marya Shakil has more details.


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Buy Biocon, Tata Comm, Thomas Cook, IOC: Krish Subramanium

Krish Subramanium of Asit C Mehta Investment Intermediates recommends buying Indian Oil Corporation for a target of Rs 345 and Thomas Cook (India) for a target of Rs 126.

In CNBC-TV18's popular show Bull's Eye, Krish Subramanium of Asit C Mehta Investment Intermediates shares his trading strategies for the
day.

One can buy Biocon  for a target price of Rs 505 and keep a stoploss at Rs 481.

One can buy Tata Communications  for a target price of Rs 376 and keep a stoploss at Rs 356.

One can buy Thomas Cook (India)  for a target price of Rs 126 and keep a stoploss at Rs 114.

One can buy Indian Oil Corporation  for a target price of Rs 345 and keep a stoploss at Rs 323.


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To gain from RBI norms over medium-long term: Gammon Infra

Finance minister Arun Jaitely in Union Budget on July 10 had underlined his government's focus to revive Indian economy by giving an impetus to the infrastructure sector.

Hailing the Reserve Bank of India's move to relax infrastructure financing rules for long-term infra bonds , KK Mohanty, MD,  Gammon Infra says the new government's reform moves for infra sector are credit-worthy.

Finance minister Arun Jaitely in Union Budget on July 10 had underlined his government's focus to revive Indian economy by giving an impetus to the infrastructure sector.

According to Mohanty, the company will be able to reap benefits from the RBI norms over medium to long-term and do not see any short-term gains from the move. The small-cap company has not bid for any new projects since past two years, he adds.

Transcript to follow shortly

Gammon Infra stock price

On July 16, 2014, at 12:30 hrs Gammon Infrastructure Projects was quoting at Rs 14.80, up Rs 0.25, or 1.72 percent. The 52-week high of the share was Rs 16.43 and the 52-week low was Rs 6.05.


The latest book value of the company is Rs 8.56 per share. At current value, the price-to-book value of the company was 1.73.


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Budget 2014: Here's how realty sector will be impacted

Written By Unknown on Selasa, 15 Juli 2014 | 14.02

Ganesh Vasudevan
IndiaProperty.com

The clear cut win of Narendra Modi and his alliance during the elections has created a major impact on the aam aadmi (common man). With the Prime Minister now facing the first test to prove his credentials, the new government presented its first budget. Although a lot is riding on Modi's shoulders, a lot is expected from him by the realty sector. Below are the highlights of the budget that will have a major impact on the real estate industry of India.

Budget highlights

•    The housing loan exemption for an individual has been increased from INR 1.5 lakh to INR 2 lakh.

•    The new government has allotted a total sum of INR 200 crore for power reforms and INR 500 crores for water reforms in Delhi and NCR (National Capital Regions).

•    An additional fund of INR 1,000 crore have been added to further improve the rail connectivity in the northeast.

•    The government has suggested a modest amount of investment towards developing infrastructure in Tier II cities of the country.

•    The Finance Ministry has announced an amount of INR 1,000 crore for the National Housing Bank to develop many affordable housing units.

•    The Prime Minister has provided assurances towards his 2014 election manifesto on creating housing units for every citizen of the county by 2022.

•    Under the public and private partnership, an amount of INR 100 crores has been allocated for metro rail projects in cities like Ahmedabad and Lucknow.

•    A proposal to have metro projects for all the cities with over 2 million population is being put forth. A metro project will come up in Kanpur.

•    Six new SEZ (Special Economic Zones) have been proposed by the new government.

•    Banks will now be able to provide long-term funding to infrastructure projects.

•    The NHAI (National Highway Authority of India) and State Highways will now receive an investment of INR 37,887 crore along with INR 3,000 crore specially allocated towards the North East.

•    An amount of INR 500 crore has been designated to create solar power development projects in states like Rajasthan and Tamil Nadu

•    Currently the country has 15,000 km of gas pipeline, however it will be doubled once the PPP (public-private partnership) model is put in place.

•    Through the public-private partnership model, new airports will be developed.

•    An estimated amount of INR 8,000 crores has been set aside for the national housing banking programme.

•    The new government has pledged to provide 24x7 electricity to all housing units.

•    An amount of INR 100 crore has been set aside to provide cleaner thermal power technology.

•    The Kakinada port will be further developed to stem hardware exports.

•    INR 100 crores have been allotted to set up a National Industrial Corridor and its headquarters will be in Pune.

•    Around 20 industrial clusters will be set up.

•    INR 4,200 crore has been set aside to create the Allahabad-Haldia inland waterway on River Ganga.

•    To create smart cities, the government has allocated INR 7,060 crore. The implementation of industrial smart cities in seven locations will help boost the country's economy.

•    Tax exemption limit for individuals have been increased from INR 2 lakh to INR 2.5 lakh.

•    Similarly, for senior citizen the tax slab has been increase from INR 2.5 lakh to INR 3 lakh.

•    Under section 80 (C) the investment limit has been scaled up to INR 1.5 lakh.

The changes in the infrastructure developments will have a huge impact on the realty industry. Apart from this, the reform brought by the new government to improve basic civic amenities will also help improve the realty sector. When IndiaProperty.com conducted a survey recently, it captured most of these sentiments of the common folk which have been that were put forth in the budget.

Ganesh Vasudevan, CEO, IndiaProperty.com, had this to say about budget, "As expected the first budget from PM Modi emphasised on affordable housing, improving infrastructure, and reviving buyers' sentiments. Tax rebates like increase in housing loan exemption from INR 1.5 lakhs to INR 2 lakhs will encourage property seekers to finalise their pending property decision. Also, the tax exemption limit under 80C has been increased from INR 1 to INR 1.5 lakhs. The principal amount paid for home loans is part of 80C and this additional INR 50k stimulus will help increase the individual savings and thereby release the much needed liquidity in the market."

He further added, "With the government's increased emphasis on developing infrastructure in Tier 2 cities, the giants of the realty industry will also eye the new developing cities. Projects like metro rail for tier 2 cities, setting up of new airports, new industrial towns, and improvements to national and state highways would help the realty industry prosper in these cities. All the initiatives taken to develop the infrastructure will have a direct impact on the realty sector. We are glad that the recent consumer sentiment survey conducted by IndiaProperty.com captured most of the initiatives announced."


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