Moongipa Capital Finance: Outcome of board meeting

Moongipa Capital Finance Ltd has informed BSE regarding Outcome of Board Meeting held on March 28, 2015.

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14.02 | 0 komentar | Read More

Royal India Corporation appoints Gaurang Shah as secretarial auditor

Royal India Corporation Ltd has informed BSE that the Board of Directors of the Company at its meeting held on March 31, 2015, has appointed Mr. Gaurang Shah, Practicing Company Secretary; as a Secretarial Auditor of the Company for the Financial Year ended March 31, 2015.

Royal India Corporation Ltd has informed BSE that the Board of Directors of the Company at its meeting held on March 31, 2015, inter alia, has :- Appointed Mr. Gaurang Shah, Practicing Company Secretary; as a Secretarial Auditor of the Company for the Financial Year ended March 31, 2015.Source : BSE

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Kilburn Engineering: Outcome of circular resolution

Kilburn Engineering Ltd has informed BSE that the Board of directors have passed the resolutions regarding appointment of Mr. Aditya Khaitan S/o Sh. Brij Mohan Khaitan as additional director and Chairman of the Board.

Kilburn Engineering Ltd has informed BSE that the Board of directors have passed the following resolutions by circulation on March 31, 2015:1. Appointment of Mr. Aditya Khaitan S/o Sh. Brij Mohan Khaitan as additional director and Chairman of the Board. Mr. Aditya Khaitan is a promoter, non-executive director.2. Adoption of Remuneration Policy recommended by Nomination and Remuneration Committee pursuant to provisions of Section 178(3) of The Companies Act, 2013.Source : BSE

Read all announcements in Kilburn Engg

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Here are few stock trading ideas from Rahul Shah

Watch the interview of Rahul Shah of Motilal Oswal Securities with Ekta Batra & Anuj Singhal on CNBC-TV18, in which he shared his readings and outlook on Futures and Options (F&O) side of the market, specific stocks and sectors.

Watch the interview of Rahul Shah of Motilal Oswal Securities with Ekta Batra & Anuj Singhal on CNBC-TV18, in which he shared his readings and outlook on Futures and Options (F&O) side of the market, specific stocks and sectors.

14.02 | 0 komentar | Read More

Infosys gives 15-20% salary hikes to top peformers

This step would not only encourage people to work better by increasing utilisation but also help the company contain attrition, say sources.

Infosys , the country's second largest software services will give 15-20 percent salary hike to the top performers, say sources. The intention behind this move clearly seems to be to curb attrition, which the company has been struggling with it.

On Firday the compnay said they would give out pay hikes in the range of 6.5 percent to 9 percent to employees in India for the financial year 2015-16.

While the overall average wage hike would be effective from April 1, which is 1-2.5 percent for onsite and 6.5 percent for offshore, higher performers would get a hike of 9.5 percent and the top performers would get 15-20 percent hike. For this, per team one to two percent of the top most employees have been scrutinized, say sources.

This step would not only encourage people to work better by increasing utilisation but also help the company contain attrition. This is the highest hike by company had done in the last three years for top performers.

14.02 | 0 komentar | Read More

Significant tariff hike will balance out rise in debt: Idea

Speaking to CNBC-TV18, Idea MD & CEO Himanshu Kapania said its debt post auctions will rise by 70 percent and net debt to EBITDA ratio will go up to a whopping 3.5-4 from the current 1.1.

Idea cellular  has been in focus after winning back 900 MHz spectrum across nine service areas. The company also acquired additional spectrum in 1800 MHz band in six key service areas.

Speaking to CNBC-TV18's Kritika Saxena, the MD and CEO Himanshu Kapania said that Idea's debt post auctions will rise by 70 percent and net debt to EBITDA ratio will go up to a whopping 3.5-4 from the current 1.1. The company has to pay over Rs 30,000 crore for the total spectrum bid.  
 
Kapania said the company will see pressure in data prices and therefore, tariff hike across circles may be necessary. Passing on charges to customers will be inevitable, he added. The company is yet to quantify exact tariff hike but believes it will be 'significant.'

However, Idea will retain positive cash flows in the next two years. Significant jump in debt is expected to be balanced by cash flows.

Bank of America Merrill Lynch (BoAML) has raised the target price of the stock by 29 percent to Rs 205 post spectrum auction.

Interview transcript to follow shortly

Idea Cellular stock price

On March 30, 2015, at 12:32 hrs Idea Cellular was quoting at Rs 178.20, up Rs 6.75, or 3.94 percent. The 52-week high of the share was Rs 186.90 and the 52-week low was Rs 129.20.

The company's trailing 12-month (TTM) EPS was at Rs 6.88 per share as per the quarter ended December 2014. The stock's price-to-earnings (P/E) ratio was 25.9. The latest book value of the company is Rs 44.09 per share. At current value, the price-to-book value of the company is 4.04.

14.02 | 0 komentar | Read More

Here's an exclusive chat with FCB's Nigel Jones

Storyboard caught up with FCB's Global Chief Strategy Officer, Nigel Jones to understand how the explosion of digital, especially, social media has changed planning the growing importance of collaboration between creative and planning and why defining the brand purpose has become the need of the hour.

Storyboard caught up with FCB's Global Chief Strategy Officer, Nigel Jones to understand how the explosion of digital, especially, social media has changed planning the growing importance of collaboration between creative and planning and why defining the brand purpose has become the need of the hour.

Watch video for more.

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The big event : NSE funancial national finale

NSE's Funancial Quest, Season 4, this is the national finale. Three outstanding teams battled hard in the semi-finals to qualify as the winners of each of them and here in the national finals they will battle again and this time it is for the title of a national champion.

NSE's Funancial Quest, Season 4, this is the national finale. Three outstanding teams battled hard in the semi-finals to qualify as the winners of each of them and here in the national finals they will battle again and this time it is for the title of a national champion. Each of these teams has had a victory at their city level, semi-finals and one victory is all that stands in their way towards being crowned national champion.

Watch videos for more..

14.02 | 0 komentar | Read More

Real Estate TV: Themed lifestyles now come from developers

Theme based projects are the buzz-word these days. Developers of housing societies today are competing with each other to lure customers with theme based projects. Each theme promises a unique experience, but are they actually practical and a desirable option or is it just a mere marketing gimmick?

Theme based projects are the buzz-word these days. Developers of housing societies today are competing with each other to lure customers with theme based projects. Each theme promises a unique experience, but are they actually practical and a desirable option or is it just a mere marketing gimmick?

Watch video for more.

14.02 | 0 komentar | Read More

Five myths about SIP that can stop you from growing rich

Systematic investment plans work the best for long term investors. Various myths surrounding SIP however can put you off the path to financial freedom.

Juzer Gabajiwala
Ventura Securities

Systematic Investment Plan (SIP) is turning into a generic term; in fact, a few people think that SIP is an investment and some assume it happens only in a Mutual Fund. The reality is, "SIP is not an investment" it is a "method of investing" in an asset class. There are many misconceived notions on what SIP is all about and how it needs to be used. Here are a few myths about SIP that we would like to clarify, so that you may use SIPs more efficiently and build wealth optimally. A SIP is what you do when you invest in a recurring deposit in a bank. Today SIPs are also possible in equity shares.

Myth 1: Only Small investors go in for SIP

SIP stands for Systematic Investment Plan (SIP) and not Small Investors Plan. Hence, it is incorrect to be under the impression and mis-conception that SIP, is meant only for small investors.

SIP is meant to be a vehicle for disciplined, regular, long-term investment. It is meant to average rupee costs and provide an opportunity for all – those with limited as well as high savings – to participate in smart investment options.

Whether you invest Rs. 1,000 a month or Rs. 50,000 a month, rupee cost averaging works alike for all. You buy through ups and downs using an SIP, whether you are a small retail investor or a High Net-worth Individual (HNI). Whether it is a small or big amount, by investing regularly, you will reap the benefits of SIPs in the long term.

Myth 2: SIP should not be started when markets are high

Many investors are always trying to time the market. They do not understand that it is time in the market and not timing the market that is important. The most common question investors ask is - Is it the right time to start SIP? Obviously the correct answer is - Any time is a good time to starting SIP. One should always remember that SIPs shield the investor from market fluctuations with its systematic approach.

Myth 3: My SIP returns on an absolute basis are low

Many investors look at the absolute returns on their SIP investment. They ignore the Internal Rate of Return (IRR) of their investments. Generally, in a short term SIP, the absolute return tends to look lower than the IRR. XIRR is a better way of looking at your return, especially when you are comparing it across other asset class yields? Because in an SIP, you do not make all your investments at one go; you invest at various points in time. Hence, there is no one point-to-point annualised return. The returns, taking into account the varying intervals of investment, are better captured by using XIRR.

Myth 4: Lumpsum is better than SIP

This is one of the most common confusions that investors face - is a lumpsum investment is better than an SIP? Let us explain this point with an example: Say 5 years back, markets were at 15,000 levels and now they are at around 30,000. Clearly, when you look back with the benefit of hindsight, you would have doubled your money in the last 5 years. Whereas using the SIP route you would have made a lesser return. BUT you need to answer 2 questions

Would you have really believed in 2009 when someone told you that the Sensex would be 30,000 in 5 years? You would have probably laughed; and secondly, Did you had enough money at that time to invest a huge sum at one go?

Thus, by using SIP you were risking a lesser component of your corpus over a varied period of time. Just for your information; if you had invested Rs. 60,000 at one go 5 years back (From Feb 2010 - Jan 2015), the present value today would have been Rs. 1,09,157, translating into a CAGR of 12.71%. Now, for the same time frame, if you had invested via the SIP route i.e Rs. 1,000 every month, your present value would have been Rs. 91,799, delivering an XIRR of 17.51% (can be seen in the above table). In terms of percentage returns, the SIP made 17.51% XIRR, while the lumpsum CAGR was only 12.71%. But the value has increased more (Rs. 1,09,157) in the lumpsum investment compared to the SIP route (Rs. 91,799). This happened because for the lumpsum you invested for the entire period of 5 years. However, in the SIP, the total funds were not completely invested for the full term, since the money was invested in tranches at intervals. In the SIP, your last investment tranche has been invested for just 1 month.

Further, in case of SIP, the robust return you receive is despite the fact your investments would be subject to volatility at different levels. In fact, during the period, the Sensex touched a low of 15,695. Hope, this point clarifies myth 3 & 4.

Timing the market is a very risky bet, specifically for retail investors, you should stick to SIPs, as this will allow you to participate not only in the upswings of the market but also restrict losses in a falling market.

Myth 5: If I have committed to a SIP period, I cannot stop my SIP before that term or change the tenure

Another common myth about SIP investing, especially when it comes to SIPs in equity funds. Many investors believe that if they have committed to an SIP for a period of say 10 or 20 years, they cannot change the tenure or the amount. They believe that if they change the tenure or amount, they would be penalized. This is untrue.

A SIP can be continued till the desired date or can be stopped or terminated whenever one wishes to do so by giving a written request duly signed, allowing about one month for the fund to follow this instruction. Moreover, if you need to change the amount; all you need to do is stop the SIP and start a new SIP.

The above are some common myths about SIPs. We should know that SIPs bring discipline into our whole investment exercise. We must be free from such above-mentioned myths so that we can take well-informed decisions related to SIP investments. So JUST SIP IT !!

14.02 | 0 komentar | Read More

Cadila Health purchases 50 percent shares of Zydus BSV Pharma

Cadila Healthcare has purchased 50 percent shares of Zydus BSV Pharma Private Limited (Zydus BSV) from Bharat Serums and Vaccines Limited and now Zydus BSV has become 100 percent subsidiary of Cadila Healthcare Limited.

Cadila Healthcare Ltd has informed BSE that the Company has purchased 50 percent shares of Zydus BSV Pharma Private Limited (Zydus BSV) from Bharat Serums and Vaccines Limited and now Zydus BSV has become 100% subsidiary of Cadila Healthcare Limited.Source : BSE

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IIFL Holdings appoints Ashutosh Naik as company secretary, compliance officer

IIFL Holdings Ltd has informed that the Board of Directors of the Company vide a circular resolution dated March 26, 2015 considered and approved the appointment of Mr. Ashutosh Naik as company secretary and compliance officer of the company.

IIFL Holdings Ltd has informed BSE that the Board of Directors of the Company vide a circular resolution dated March 26, 2015, inter alia, considered and approved the appointment of Mr. Ashutosh Naik as Company Secretary and Compliance Officer of the Company.Source : BSE

Read all announcements in India Infoline

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TCS, Infosys rally; Accenture raises 2015 revenue guidance

Moneycontrol Bureau

Technology stocks saw buying interest on hopes of better earnings in the quarter ended March 2015 after unlisted rival Accenture raised its outlook for the current calendar year 2015. IT majors  TCS and  Infosys surged 2-4 percent intraday Friday.

Accenture reported fiscal Q215 revenues of USD 7.49 billion, above its guided range of USD 7.15-7.4 billion (adjusted for currency) and also above the USD 7.36 billion street estimate. The company raised its full-year net revenue growth guidance to 8-10 percent Y-o-Y in local currency (against its previous 5-8 percent Y-o-Y guidance).

Consulting net revenue was USD 3.84 billion, up 4 percent year-on-year and 11 percent in constant currency terms while outsourcing net revenue was USD 3.65 billion, an increase of 6 percent year-on-year and up 13 percent in constant currency terms. Operating margins grew 30 basis points Y-o-Y at 13.6 percent.

According to Morgan Stanley, following muted commentary from TCS (around a slow start in January-February) and a weak Q4 outlook from some mid-cap peers (Mindtree, Persistent, KPIT), Accenture's February-15 quarter revenues coming in above guidance and beating the street estimate offers a positive datapoint for the industry.

Nomura too believes the results' read-across is positive for India IT from a demand perspective, as they indicate growth momentum improvement in the US on the back of macro improvements and continuation of the strong growth in outsourcing and in Europe.

However, Accenture now expects currency to more adversely affect revenues, by 8 percent Y-o-Y against 5 percent previously. Accenture follows September-October as its financial year.

Like Accenture, the India IT vendors should face significant cross currency headwinds in the March-15 quarter and in FY16, said Morgan Stanley. So far, two large vendors have indicated cross currency headwind of 200-250 bps Q-o-Q in the March-15 quarter.

Interestingly, despite significant currency headwinds buffeting the topline, Accenture has maintained its operating margin guidance of 14.4 percent-14.6 percent (excluding the restructuring charge).

Despite continued market concerns about pricing pressure for India IT vendors, so far none of the large vendors have indicated any signs of such pressure at a portfolio level. Accenture management indicated that, despite a continued competitive environment, it has seen progression in pricing in certain parts of the business over the past six months, said Morgan Stanley.

As per Accenture's management, digitisation and rationalisation are driving growth. This is in line with the commentary from Indian IT managements (Cognizant: "dual mandate", Infosys: "renew and new", Wipro : "run and change").

Nomura and Ambit remain positive on the demand environment for Indian IT services. Nomura looked for around 15 percent revenue CAGR in constant currency over FY15-17F for tier 1 Indian IT.

At 11:50 hours IST, the scrip of Tata Consultancy Services climbed 1.7 percent to Rs 2,556 and Infosys rallied 3.6 percent to Rs 2,221.60 on the Bombay Stock Exchange.

Posted by Sunil Shankar Matkar

14.02 | 0 komentar | Read More

Nifty hovers around 8350; Reliance, Bharti, Idea fall 2-5%

12:00

Moneycontrol Bureau The market gave up morning gains to trade flat on the first day of the April series. The Nifty continued to hover around the 8350 level supported by IT stocks. However, the BSE Midcap Index underperformed benchmarks, down half a percent.

The 30-share BSE Sensex advanced 25.58 points to 27483.16 and the 50-share NSE Nifty slipped 2.20 points to 8339.95. Declining shares outnumbered advancing ones by a ratio of 1433 to 955 on the BSE.

Telecom stocks continued to be in focus on account of the details emerging from the telecom auctions. Idea Cellular was the highest spender at Rs 30,306 crore. Apart from this, Bharti Airtel spent Rs 29,310 crore with Reliance Communications from the listed space shelling out Rs 4,299 crore. Macquarie says given the biggest overhang related to spectrum auction is behind, they have increased their target price for both Bharti and Idea Rs 460 and Rs 215, respectively.

Among frontliners, Reliance Industries, Bharti Airtel, Dr Reddy's Labs, BHEL, PNB, Bank of Baroda, Cairn India and Idea Cellular plunged 2-5 percent. ITC, HDFC, Axis Bank, Sun Pharma, M&M and Hero Motocorp were down 1-1.8 percent. However, Infosys, HDFC Bank, TCS, L&T, NTPC and Hindalco Industries rallied 1-3 percent.

JSPL jumped 5 percent. The Delhi High court raised an eyebrow over the government's decision to cancel coal block bids from JSPL and BALCO yesterday calling the move unfair and asking the government what changed its stance on the possibility of carterlisation and also on why a re-auction has not been considered.

Oil ministry sources indicated that upstream subsidy burden is likely to be zero in the fourth quarter. Oil ministry is seeking a Rs 5,000 crore compensation from centre in Q4, but the finance ministry is yet to formally communicate its decision on the subsidy sharing mechanism. CNBC-TV18 also learnt that gas price is likely to be cut to USD 5.02 from earlier USD 5.61 per mmbtu from April 1.

Globally, Asian markets traded mixed on geopolitical concerns. Japan's Nikkei hit a two-week low due to weak inflation data. In commodities, Brent crude slipped more than a percent to USD 58 a barrel as supply threat eased.

14.02 | 0 komentar | Read More

Prefer telecom stocks: Ajay Srivastava

Ajay Srivastava, CEO at Dimensions Consulting is of the view that one may prefer telecom stocks with long term view.

Ajay Srivastava, CEO at Dimensions Consulting told CNBC-TV18, " Idea Cellular will see expansion in valuation parameters. The reason being assured revenues, assured costs, healthy rate of return and lack of new players. There is no new player coming into the market. Reliance Jio you can say yes, but I do not take them very seriously at this point of time and in my discussion with them, neither of any telecom company take them very seriously at this point of time."

"You cannot buy spectrum tomorrow from somebody so you cannot start the new venture, what else do you want in the matrix of a company? It is a phenomenal matrix for the industry which is being built up, I would put my bet on this price which is going to be two times in the next 2-3 years. That is the kind of return we are looking at. Do not worry, the next big one is coming and if you are looking at doubling your money in 2-3 years, these are the places to be," he added.

At 12:15 hrs Idea Cellular was quoting at Rs 170.90, down Rs 9.50, or 5.27 percent. It has touched a 52-week high of Rs 186.90.

14.02 | 0 komentar | Read More

Buy GBPINR above 93.17; target of 93.70: Way2Wealth

Way2Wealth has come out with its report on currencies. According to the research firm, one can buy GBPINR above 93.17 for the target of 93.70 with a stop loss of 93.00

Way2Wealth's report on currencies

USDINR (62.41)

As mentioned in our previous report the fall in USDINR was capped on the back of gains in dollar index. As a result the pair displayed a sharp pullback to close with decent gains.

Although the 62.24 support was broken but the pair bounced from the 78.6% FIB retracement level of 62.20. Now on the daily chart we are witnessing a reversal candlestick pattern which indicates that the move on the higher side might continue. In such scenario the pair is likely to retest 63 mark.

GBPINR (92.98)

Likewise other currency pairs even GBPINR traded with positive bias in yesterday's session. However, the pair failed to clear the 93.17 hurdle after registering an intraday high of 93.11 to close slightly in green.

The resistance of 93.17 on the hourly chart is still intact and therefore a sustainable move above the same might result in some quick upside in the coming session. On the downside, a breach of 92.64 mark could lead to further fall in the pair.

EURINR (68.57)

EURINR continues to ascent in previous session and closed near day's high above 68.50 mark. During the course, the pair didn't reach our target of 68.80 but registered an intraday high of 68.62 which was remarkable. On the daily chart we are witnessing that the pair is hovering just below the previous gap area of 68.63 which can be a strong resistance. In addition, the recovery in dollar index might keep the pair under pressure. In such scenario, we would advise traders to avoid going long in the pair as the prices too are a bit overbought on the hourly chart.

Currency : GBPINR
Action : Buy Above
Entry : 93.17
Target : 93.70
Stop Loss : 93.00

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

Ranjit Securities' board meeting on March 28, 2015

Ranjit Securities Ltd has informed BSE that a meeting of the Board of Directors of the Company will be held on March 28, 2015, to consider, discuss & approve appointment of Secretarial Auditor of the Company.

Ranjit Securities Ltd has informed BSE that a meeting of the Board of Directors of the Company will be held on March 28, 2015, inter alia, to consider, discuss & approve appointment of Secretarial Auditor of the Company.Source : BSE

Read all announcements in Ranjit Sec

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Positive on Lupin on strong pipeline for US mkt: IIFL

Pharma Analyst, Abhishek Sharma of IIFL spoke with Ekta Batra & Anuj Singhal of CNBC-TV18. He shared his reading and outlook on the pharmaceutical space.

Pharma Analyst, Abhishek Sharma of IIFL spoke with Ekta Batra & Anuj Singhal of CNBC-TV18. He shared his reading and outlook on the pharmaceutical space.

14.02 | 0 komentar | Read More

Sell gold, silver buy crude: Ravindra Rao

Watch the interview of Ravindra Rao of Anand Rathi Commodities with Sonia Shenoy and Anuj Singhal on CNBC-TV18. He spoke about the current trend in commodities markets.

Watch the interview of Ravindra Rao of Anand Rathi Commodities with Sonia Shenoy and Anuj Singhal on CNBC-TV18. He spoke about the current trend in commodities markets.

14.02 | 0 komentar | Read More

Oil to reach $100 a barrel by end of 2016: T Boone Pickens

Oil prices have fallen sharply amid weaker Asian and European demand and a boom in North American production. US crude futures have dropped more than 60 percent since highs last summer and were at around USD 47.40 a barrel on Tuesday.

Oil prices could hit USD 100 a barrel by the end of next year, US oil magnate T Boone Pickens said on Tuesday, revising his previous forecast which said they would reach that level as early as this year.

"I think you could very well be at USD 100 a barrel by the end of 2016," the 86-year-old billionaire and chair of BP Capital told an audience of about 100 at the Commonwealth Club of California in San Francisco.

Oil prices have fallen sharply amid weaker Asian and European demand and a boom in North American production. US crude futures have dropped more than 60 percent since highs last summer and were at around USD 47.40 a barrel on Tuesday.

Pickens said the idea of "peak oil" – the point in time at which oil production will go into an irreversible decline – shouldn't be dismissed on account of the increase in US production. Other regions are seeing their output decline, he said.

A lifelong Republican, Pickens said he would support Jeb Bush if he decided to pursue the party's nomination in 2016, as is widely expected.

"The Republicans will win in 2016," said Pickens, who has donated heavily to Republican presidential candidates in the past, including Jeb's brother, former President George W. Bush.

14.02 | 0 komentar | Read More

Ashok Alco Chem allots 4.50 lakh equity shares to Aura Alkalies

Ashok Alco Chem at its meeting held on March 25, 2015, has issued and allotted 4,50,000 Equity Shares of Rs 10 each at a premium of Rs 20 per share to Aura Alkalies and Chemical Private Limited, Promoter Group Company of the Company pursuant to conversion of 4,50,000 Warrants of Rs. 30/- each held by Aura Alkalies and Chemicals.

Ashok Alco Chem Ltd has informed BSE that the Board of Directors of the Company at its meeting held on March 25, 2015, has issued and allotted 4,50,000 Equity Shares of Rs. 10/- each at a premium of Rs. 20/- per share to Aura Alkalies and Chemical Private Limited, Promoter Group Company of the Company pursuant to conversion of 4,50,000 Warrants of Rs. 30/- each held by Aura Alkalies and Chemicals Private Limited.Further post this allotment, the holding of Aura Alkalies and Chemicals Private Limited is increased to 54.75% in Ashok Alco-Chem Limited and consequently, Aura Alkalies and Chemicals Private Limited becomes Holding Company of Ashok Alco-Chem Limited.Pursuant to the allotment of the above Equity Shares, the paid up equity capital of the Company has increased from Rs. 4,15,03,430 divided into 41,50,343 Equity Shares of Rs 10/- each to Rs. 4,60,03,430 divided into 46,00,343 Equity Shares of Rs 10/- each.The new Equity Shares shall rank pari-pasu with the then Existing Equity Shares of the Company in all respects including right as to dividend .Source : BSE

Read all announcements in Ashok Alco-Chem

14.02 | 0 komentar | Read More

Gujarat Automotive Gears: Outcome of board meeting

Gujarat Automotive Gears has submitted a copy of the Resolution passed by the Board of Directors of the Company at its meeting held on March 13, 2015.

Gujarat Automotive Gears Ltd has submitted to BSE a copy of the Resolution passed by the Board of Directors of the Company at its meeting held on March 13, 2015.Source : BSE

Read all announcements in Guj Auto Gears

To read the full report click here

14.03 | 0 komentar | Read More

Buy every correction; see uptick in MHCV, like banks: UTIMF

Swati Kulkarni, vice-president and fund manager, UTI MF believes valuations of banking stocks continue to be supportive and the sector is likely to outperform. From a growth perspective, private sector banks are better placed in terms of capital adequacy, but from a valuation point of view, large public sector banks may do better.

With the macroeconomic situation favouring India and the political mandate in favour, every correction is a good buying opportunity, says Swati Kulkarni, vice-president and fund manager, UTI MF.

She believes valuations of banking stocks continue to be supportive and the sector is likely to outperform. From a growth perspective, private sector banks are better placed in terms of capital adequacy, but from a valuation point of view, large public sector banks may gain more.

She also sees initial signs of a pick-up in medium-to-heavy commercial vehicles (MHCV) segment in the auto space.

Stay tuned for more..

14.02 | 0 komentar | Read More

Comfort Intech: Appointment of Chief Financial Officer

Comfort Intech has informed that Mr. Lalit Sethi is appointed as Chief Financial Officer of the Company w.e.f. February 14, 2015.

Comfort Intech Ltd has informed BSE that Mr. Lalit Sethi is appointed as Chief Financial Officer of the Company w.e.f. February 14, 2015.Source : BSE

Read all announcements in Comfort

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Excl: Dollar transactions, FEMA tweak planned for GIFT city

The central government is planning to carve out separate rules from the Foreign Exchange Management Act (FEMA) to help push its dream to create international financial services centres (IFSCs) in the country.

The central government is planning to carve out separate rules from the Foreign Exchange Management Act (FEMA) to help push its dream to create international financial services centres (IFSCs) in the country.

Sources have told CNBC-TV18's Sapna Das that the planned tweak will help IFSCs achieve international scale and compete with major financial international financial hubs such as Singapore, Hong Kong or Dubai.

One of the concessions being planned will be to allow transactions (with the exception of local expenses) in foreign currencies (such as the US dollar) to be carried out.

This would be required as the Indian rupee is partially-convertible (meaning there are restrictions on one part of foreign currency flows – the current account – while the trade account is unrestricted.) A partially-convertible regime, usually adopted by emerging countries to prevent currency volatility, inhibits capital flows.

The first such city that is coming up is Gujarat International Finance-Tec (GIFT) City in the western state and on Sunday, market regulator Sebi approved guidelines to allow exchanges, clearing corporations and fund houses to set up shop there.

IFSCs would be treated as a foreign territory and an RBI notification in this regard would be issued soon, sources said.

But they added that such cities will, however, not be majorly exempted from provisions of Income Tax Act.

14.02 | 0 komentar | Read More

Toheal Pharmachem's board meeting on March 27, 2015

Toheal Pharmachem Ltd has informed BSE that a meeting of the Board of Directors of the Company will be held on March 27, 2015, to appoint Mrs. Manorama Jitendra Shah as an additional Director of the Company.

Toheal Pharmachem Ltd has informed BSE that a meeting of the Board of Directors of the Company will be held on March 27, 2015, inter alia, to transact the following business :- To Appoint Mrs. Manorama Jitendra Shah as an additional Director of the Company.Source : BSE

Read all announcements in Toheal Pharm

14.02 | 0 komentar | Read More

Indian Rupee likely trade sideways today: Angel Broking

From the intra-day perspective, Indian Rupee will likely trade sideways today as weakness in the DX will be supportive. However, dollar demand from exporters will likely pick up in last few days of the financial year, thereby exerting pressure on the Indian Rupee, says Angel Broking.

Angel Broking's report on rupee

Dollar/INR

The Indian Rupee appreciated by 1.1 percent last week increased selling of dollars by banks and exporters ahead of the US Fed monetary policy statement along with dollar's weakness against other major currencies overseas supported gains. Further, international crude oil prices fell and the trade deficit in February narrowed to a 17-month low acted as positive factors.

However, weakness in domestic equities along with cautious stance ahead of FOMC statement hurt the market sentiments, thereby exerting pressure on the currency. The currency touched a weekly high of 62.36 and closed at 62.40 on Friday.

For the month of March 2015, FII outflows in equities totaled at Rs.9931.14 crores ($1603.02 million) as on 20th March 2015. Year to date basis, net capital inflows stood at Rs.34325.64 crores ($5559.53 million) as on 20th March 2015.

Outlook

From the intra-day perspective, Indian Rupee will likely trade sideways today as weakness in the DX will be supportive. However, dollar demand from exporters will likely pick up in last few days of the financial year, thereby exerting pressure on 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

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Exclusive chat with Havas Chairman CEO, Yannick Bollore

Havas's chairman and CEO, Yannick Bolore was in the country recently. Storyboard's Editor, Anant Rangaswami caught up with him to understand the communication holding company's 'Together' strategy, how it helps its clients and the challenges in managing procurement costs.

Havas's chairman and CEO, Yannick Bolore was in the country recently. Storyboard's Editor, Anant Rangaswami caught up with him to understand the communication holding company's 'Together' strategy, how it helps its clients and the challenges in managing procurement costs.

 Watch video for more...

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First look at Dulux's new ad shoot

In this action-packed show, we also visited the sets of Dulux's new ad shoot. The TVC is for its premium range of interior paints, Velvet touch, and stars actor Farhan Akhtar who has been endorsing Dulux for the last 7 years. Here's what happened on the sets.

In this action-packed show, we also visited the sets of Dulux's new ad shoot. The TVC is for its premium range of interior paints, Velvet touch, and stars actor Farhan Akhtar who has been endorsing Dulux for the last 7 years. Here's what happened on the sets.

Watch video for more...

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Motomiu Katanga Uno first ride review

After seeing that intro line you might ask me, What in heck do you mean? Aren't all customs better than stock? Phooey! But the answer to that question is a matter of perspective. Most people think of custom bikes as good-looking. Not entirely inaccurate. But to many that's all that matters. Unfortunately I cannot be that person. Not thinking about riding a bike - and that includes customs - is like going to an unlimited buffet with your mouth sewn closed. Painful, uselessand frustrating. And if I'm honest, I've seen so... Read More

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Van Eck Associates buys 67.53 lakh shares of South Ind Bk

On March 20, 2015 Van Eck Associates Corporation bought 67,53,382 shares of South Indian Bank.

On March 20, 2015 Van Eck Associates Corporation bought 67,53,382 shares of  South Indian Bank at Rs 25.15 on the NSE.

On Friday, South Indian Bank ended at Rs 24.80, down Rs 0.15, or 0.60 percent.

The share touched its 52-week high Rs 35.05 and 52-week low Rs 23.05 on 07 July, 2014 and 28 March, 2014, respectively.

The company's trailing 12-month (TTM) EPS was at Rs 3.08 per share. (Dec, 2014). The stock's price-to-earnings (P/E) ratio was 8.05. The latest book value of the company is Rs 24.95 per share. At current value, the price-to-book value of the company was 0.99.

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Van Eck Associates Corp sells 24.18 shares of Suzlon Energy

On March 20, 2015 Van Eck Associates Corporation sold 2,24,18,094 shares of Suzlon Energy.

On March 20, 2015 Van Eck Associates Corporation sold 2,24,18,094 shares of  Suzlon Energy 27.19 on the NSE.

On Friday, Suzlon Energy ended at Rs 27, down Rs 1.65, or 5.76 percent.

The share touched its 52-week high Rs 36.80 and 52-week low Rs 10.32 on 12 June, 2014 and 27 March, 2014, respectively.

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Prefer PSU banks, NBFC: Tirthankar Patnaik

Tirthankar Patnaik, India Strategist at Mizuho Bank is of the view that one may prefer PSU banking and non-banking financial stocks.

Tirthankar Patnaik, India Strategist at Mizuho Bank told CNBC-TV18, "For a long term investor, the idea is definitely to buy. You get these chances of where the market is coming off 9,000 levels, it has gone down to about 8,500. Chances are that it might go to about 8,200 odd levels also if this correction continues. So, for a long term investor these are definite opportunities to buy."

He further added, "In terms of what to buys, banks have certainly not done well in this particular calendar year. We have seen the public sector (PSU) bank space essentially getting hammered fairly badly after the third quarter results. So, if one were to pick and choose, one would go after PSU banks, one would go after non-banking financial companies because these are all going to benefit from the macro recovery."

"We might differ on the magnitude of the recovery, whether we follow the old gross domestic product (GDP) numbers, the new GDP numbers, but I do not think we will argue on the direction of the recovery and in terms of asset quality also, we have probably seen the worst. We are not likely to see things improve in the next quarter or so but things will go forward. So, I would be a buyer in rate sensitives in general. Whatever that is, local over global, that theme will continue. Of course I am in a position to pick and choose at the moment," he said.

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NMDC: Updates on appointment of government nominee director

NMDC Ltd has informed BSE that Government of India, Ministry of Steel, vide its Order dated March 16, 2015 has communicated the appointment of Smt. Bharathi S. Sihag, Additional Secretary & Financial Advisor, Ministry of Steel (MoS) as Government Nominee Director on the Board of NMDC Ltd.

NMDC Ltd has informed BSE that Government of India, Ministry of Steel, vide its Order dated March 16, 2015 has communicated the appointment of Smt. Bharathi S. Sihag, Additional Secretary & Financial Advisor, Ministry of Steel (MoS) as Government Nominee Director on the Board of NMDC Ltd. with immediate effect and until further orders vice Shri V.K. Thakral, former Additional Secretary & Financial Advisor, Ministry of Steel.In terms of the above Government Order, Smt. Bharathi S. Sihag has been appointed as Additional Director and Government Nominee Director on the Board of NMDC Ltd. with effect from the March 16, 2015.Further, Shri V.K. Thakral ceased to be Government Nominee Director on the Board of NMDC w.e.f. March 16, 2015 in terms of Government of India, Ministry of Steel, Order dated March 16, 2015.Source : BSE

Read all announcements in NMDC

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Saboo Brothers' board meeting on March 23, 2015

Saboo Brothers Ltd has informed BSE that a meeting of the Board of Directors of the Company will be held on March 23, 2015, to consider the appointment of directors and appointment of Internal Auditor.

Saboo Brothers Ltd has informed BSE that a meeting of the Board of Directors of the Company will be held on March 23, 2015, to consider the following:1. Appointment of directors.2. Appointment of Internal Auditor.Source : BSE

Read all announcements in Saboo Brothers

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Pitti Laminations' board meeting on March 30, 2015

Pitti Laminations Ltd has informed BSE that a meeting of the Board of Directors of the Company will be held on March 30, 2015, to consider and fix the record date for the purpose of sub-division of the face value of the equity share from Rs. 10/- to Rs. 5/- each.

Pitti Laminations Ltd has informed BSE that a meeting of the Board of Directors of the Company will be held on March 30, 2015, inter alia, to consider and fix the record date for the purpose of sub-division of the face value of the equity share from Rs. 10/- to Rs. 5/- each.Source : BSE

Read all announcements in Pitti Laminatio

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See Fed hike rates in Sept; bullish on India: Macquarie

Richard Gibbs of Macquarie Securities expects India to be a greater beneficiary of capital inflows and expects the growth differentiation between India and China to widen further.

Richard Gibbs of Macquarie Securities believes the US central bank's removal of a reference to being "patient" on rates from its policy statement has pushed the rate hike to as late as September.

In an interview to CNBC-TV18, Gibbs says the Fed is focusing on price stability and full employment.

Furthermore, he expects India to be a greater beneficiary of capital inflows and expects the growth differentiation between India and China to widen further.

Transcript to follow soon.

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Stay with ICICI Bank, says Sudarshan Sukhani

Sudarshan Sukhani of s2analytics.com recommends staying with ICICI Bank.

Sudarshan Sukhani of s2analytics.com told CNBC-TV18, " ICICI Bank is something you keep for a very long-term, just stay with it. It is the best of the lot. Banks will outperform, ICICI Bank will outperform the banking sector. Stay for five years."

At 12:16 hrs ICICI Bank was quoting at Rs 339.90, up Rs 5.25, or 1.57 percent. It has touched an intraday high of Rs 342 and an intraday low of Rs 336.65.

Disclosure: Analyst does not have positions in the stock.

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Exit Reliance Capital, says Sudarshan Sukhani

Sudarshan Sukhani of s2analytics.com is of the view that one may exit Reliance Capital.

Sudarshan Sukhani of s2analytics.com told CNBC-TV18, "One should plan to exit Reliance Capital  in this rally; don't over stay. It is in any case is not a strong stock, so one should get out."

At 12:19 hrs Reliance Capital was quoting at Rs 473.95, up Rs 2.70, or 0.57 percent. It has touched an intraday high of Rs 478 and an intraday low of Rs 471.85.

Disclosure: Analyst does not have positions in the stock.

14.02 | 0 komentar | Read More

Exit TVS Motor with short term view: Sudarshan Sukhani

According to Sudarshan Sukhani of s2analytics.com, one can exit TVS Motor Company with a short term view.

Sudarshan Sukhani of s2analytics.com told CNBC-TV18, "Markets are going into a consolidation and three to six months is too little a timeframe to say what will happen. I think one should plan an exit slowly and steadily from TVS Motor Company . Get out of it if one is a short-term trader."

"If one is a long-term investor there is nothing to worry about. However, if you are a short-term trader markets can become very choppy in the near-term, so you should plan to exit."

At 11:56 hrs TVS Motor Company was quoting at Rs 279.70, down Rs 3.55, or 1.25 percent. It has touched an intraday high of Rs 284.05 and an intraday low of Rs 277.10.

Disclosure: Analyst does not have positions in the stock.

14.02 | 0 komentar | Read More

Why brokerages advise subscribing to Inox Wind IPO?

Moneycontrol Bureau

The Rs 1025-crore public issue of Inox Wind, the fourth largest wind turbine maker in India, has opened for subscription today. The price band for the issue, which will close on March 20, is fixed at Rs 315-325 apiece.

The wind power solutions provider aims to raise up to Rs 700 crore through fresh issue while founder Gujarat Fluorochemicals (GFL) will dilute its stake worth Rs 325 crore (at higher end of price band) by selling 1 crore equity shares (i.e. offer for sale).

Retail investors will get shares at a discount of 5 percent (Rs 15 per share) to the final issue price.

Brokerages as well as experts believe Inox Wind is a very good IPO. Considering its strong order book, government's initiative to boost renewable energy sector and healthy response to anchors' book, investors can subscribe to the issue, said brokerages in its notes.

Vikas Khemani, President and Co-Head, Wholesale Capital Markets at Edelweiss Capital said there is no reason why this company cannot deliver superior returns for shareholders over a medium-term to longer-term.

"Inox wind has done phenomenally well in last three or four years so it is a very good company. It comes from a good family, promoting company which has delivered 20 percent plus compound annual growth rate (CAGR) to the investors over last two decades. Even there is a very enthusiastic support from institutional as well in the non institutional category," Khemani explained.

He is hopeful of issue doing very well in the markets in the subscription and post listing as well.

According to Ajcon Global, with due consideration to factors like thrust of government on renewable energy sector; ability to provide turnkey solutions for wind farm projects in India; strong order book and project execution capability; recognized and trusted corporate group;  favorable capital structure; and strong return ratios, valuations deserves a premium as its operating and net margins are relatively high and its operating and total cost per MW is relatively low compared to a number of major wind turbine manufacturers inside and outside of India.

Inox has shown a strong growth during FY2014 and 9MFY2015 periods, wherein it sold 330MW and 380MW of wind turbine generators (WTGs) during the period. Plus currently, it has a strong order book of 1,258MW, as against Suzlon's order book of 1,148MW, and Gamesa India Private Limited's order inflow of 850MW (as of December 2014).

Angel Broking said Inox Wind has access to wind project sites which have been acquired or are under the acquisition process by its group companies - GFL and Inox Renewables (IRL) - and its subsidiary Inox Wind Infrastructure Services (IWISL).

Thus, according to the brokerage, these provide strong revenue visibility for the company in medium term and in FY16.

Government is set to increase the target of renewable power to 1, 75,000MW and set a target to manufacture wind power electricity to 60,000 MW. This will create the huge opportunity for the Inox Wind for the upcoming period, said GEPL Capital.

Inox Wind, the manufacturer of wind turbine generators, also provides turnkey solutions, and operation and maintenance services for wind power projects. Currently, it has an installed capacity of 550 nacelles and hubs, 256 rotor blade sets and a capacity of 150 towers.

The company is setting up a new integrated capacity which will take the total nacelles and hubs capacity to 950 units, rotor blades capacity to 800 sets and tower capacity to 600 units.

ICICIdirect said with a strong backlog of 1258 MW (around Rs 7,500 crore), margin profile (EBITDA of 16 percent) and return on equities (31 percent in FY14), Inox Wind is expected to clock a healthy financial performance over FY15-17E.

In addition to that, Motilal Oswal said in the WTG business, gross margins are likely to sustain at around 26 percent and EBITDA margins at 16-17 percent.

The operations and maintenance (O&M) business provides interesting opportunities, given that the supplier retains O&M on nearly 100 percent of the projects, and gross margins are remunerative at around 50 percent. Going forward, the contribution will increase meaningfully, as the installed base increases, Motilal added.

The brokerage expects Inox Wind's WTG sales to increase from 330MW in FY14 to around 600MW in FY15 and 1-1.2GW in FY16.

Inox Wind has relationships with several large utilities, including Tata Power , Continuum Wind, Clean Wind Power (Hero Group), and ReNew Power; and bagged several large sized orders in FY15.

According Mehta Equities, technology suits low windy sites. "Inox's WTG is equipped with DFIG technology (based on AMSC technology) which is one of the most advanced technologies being used globally. The swept area per MW is also one of the highest which we believe makes the IWL WTG suitable for low windy sites and climatic conditions such as Indian sites," it explained.

Inox intends to use part of the IPO proceeds to invest in new equipment at the Una unit to optimise the capacity of the nacelle and hub manufacturing facility. Issue proceeds will also be used for long term working capital requirements; and investment in subsidiary, IWISL, for the purpose of development of power evacuation infrastructure and other infrastructure development.

However, key risks according to the brokerages are: Increase in competition might put pressure on margin; limited wind energy potential; orderbook may not turn in revenues; negative cash flow; investment in subsidiary; high concentration of revenues to few clients; high dependence on government policies and benefits; lack of in-house technology; high working capital intensity etc.

More about the issue

Its anchor investors' portion, which was opened for one day before the issue opening date, received good response. The company has decided to allocate 94.25 lakh shares worth Rs 306 crore at a price of Rs 325 apiece to anchor investors.

Anchor investors were Sundaram Mutual Fund, IDFC Fund, FIL Investments Mauritius, SBI Infrastructure Fund, Grandeur Peak Global Reach Fund, Blackrock India Equities Fund, Reliance Capital Trustee, Morgan Stanley, Tata AIA Life Insurance Company, Birla Sun Life Insurance Company, Kotak Fund, Goldman Sachs India Fund, Swiss Finance Corporation (Mauritius) and Indus India Fund (Mauritius).

The minimum bid lot is 45 equity shares and in multiples of 45 equity shares thereafter.

The equity shares are proposed to be listed on the BSE and the NSE.

Axis Capital Limited, DSP Merrill Lynch Limited, Edelweiss Financial Services Limited and YES Bank are the global co-ordinators and book running lead managers to the issue. Link Intime India Private Limited is a registrar to the offer.

14.02 | 0 komentar | Read More

Coromandel Agro's board meeting on March 19, 2015

Coromandel Agro Products & Oils Ltd has informed BSE that a meeting of the Board of Directors of the Company will be held on March 19, 2015, to take on record the resignation given by the Managing Director Sri M. Venkateswara Rao and promote Executive Director Sri. Maddi Ramesh as Managing Director w.e.f. April 01, 2015.

Coromandel Agro Products & Oils Ltd has informed BSE that a meeting of the Board of Directors of the Company will be held on March 19, 2015, to take on record the resignation given by the Managing Director Sri M. Venkateswara Rao and promote Executive Director Sri. Maddi Ramesh as Managing Director w.e.f. April 01, 2015.Source : BSE

Read all announcements in Coromandel Agro

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Exit National Fertilizers, says Sameet Chavan

Sameet Chavan of Angel Broking recommends exiting National Fertilizers on bounce.

Sameet Chavan of Angel Broking told CNBC-TV18, "In the near to medium-term perspective National Fertilizers  has broken down from its important support level of Rs 35-36 two to three weeks back. Since then it has just been sliding lower. The trend remains negative hence my advice would be to exit on any meaningful bounce; probably Rs 34-36 would be a better exit opportunity. So, in case any bounce comes, my suggestion would be to exit from the stock."

"The level of Rs 35-36 is the breakdown point and it is now trading around its important support of Rs 29-30. So, purely with a near-term perspective there could be a possibility of some technical bounce towards Rs 34-36 where in one can think of exiting the stock," he said.

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Need atleast Rs 2,000 cr revival package: FACT

Jaiveer Srivastava, CMD, FACT says the earlier revival package of Rs 991 crore is no more valid. The company needs atleast Rs 2,000 crore to pay off its arrears and undertake expansion plans.

The fertiliser ministry has decided that it will take further steps towards the revival of FACT. Jaiveer Srivastava, CMD, FACT says the earlier revival package of Rs 991 crore is no more valid. The company needs atleast Rs 2,000 crore to pay off its arrears and undertake expansion plans.

FACT has submitted its medium and long-term plans to the government and says it needs to go ahead with expansion plans for the company's growth.

It has two plants in Kochi, which can cater to its NPK, ammonia and ammonia sulphate needs.

There is more good news for the company. The Kerala government waived off VAT on LNG being used by the company. It receives around Rs 600-800 crore subsidy from the government every year.

stay tuned for more...

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KPIT Tech falls 4% as co lowers $ revenue guidance for Q4

Shares of KPIT Technologies dropped another 4.4 percent intraday Tuesday after the software firm said dollar revenue for the fourth quarter of FY15 will be flat compared to third quarter.

Moneycontrol Bureau

Shares of  KPIT Technologies dropped another 4.4 percent intraday Tuesday after the software firm said dollar revenue for the fourth quarter of FY15 will be flat compared to third quarter. The stock had shed 3 percent in previous session.

The change in guidance was mainly due to significant negative cross currency impact. According to the filing, the cross currency impact for the full year will be more than 1 percent of annual revenues.

"Thus the revenue guidance for FY15 will be met on constant currency terms but will be proportionately lower in terms of dollar reported revenue," KPIT explained.

The software firm further said while there will be margial growth in profit after tax for FY15 compared to FY14, it remained positive about growth prospects for FY15 and beyond.

At 11:55 hours IST, the scrip of KPIT Technologies was quoting at Rs 197.65, down Rs 7.60, or 3.70 percent.

Meanwhile, other IT firm Persistent Systems also cut its guidance for January-March quarter. It (on Monday) said revenue growth in dollar terms is expected to be muted in Q4FY15 due to change in the business priorities of one of large customers in the product engineering segment.

Posted by Sunil Shankar Matkar

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Lords Ishwar Hotels: Outcome of independent directors meeting

Lords Ishwar Hotels Ltd has informed BSE that the meeting of Independent Directors of the company held on March 12, 2015.

Lords Ishwar Hotels Ltd has informed BSE that the Independent Directors of the Company in their meeting held on March 12, 2015 has discussed the following items of agenda:1. Reviewed the performance of non-independent directors and the Board as a whole;2. Assessment of quality, quantity and timeliness of flow of information between the Company management & the Board3. Familiarization Program conducted by the Company & its role for performing their duties effectively.4. Union Budget's new provisions to Hotelier business segment & its impact.5. Reviewed Vigil Mechanism & Risk Management Policy.Source : BSE

Read all announcements in Lords Ishwar

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DLF: Outcome of board meeting

DLF Ltd has informed BSE regarding the Outcome of Board Meeting of the Company.

To read the full report click here

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Planning to buy a property abroad? Don't miss these tips

Surabhi Arora
Colliers International

With increased globalisation, it is becoming a norm for savvy investors to allocate a share of their portfolios in foreign assets as international portfolio diversification allows them to get superior risk-return trade-off than the portfolio of domestic assets. However, the size of this share usually depends on cross-country rules and regulations, and limitation on investment.

The increase in foreign remittance limit up to USD 250,000 (approximately 1.5 Cr per year) under the Liberalized Remittance Scheme (LRS) by RBI for resident individuals has broadened the doorway for investors to invest in different asset classes across borders. Under the Scheme, resident Indians can invest in other countries out of bank accounts opened abroad. Accordingly, Indian resident individuals are free to acquire and hold immovable property, equity shares, units of mutual funds , venture capital funds, unrated debt securities, gifts and donations, promissory notes or any other asset outside India without prior approval of the Reserve Bank of India.

However, there are a few prohibited transaction as well, such as purchasing of lottery or sweepstakes, funding margin calls, funding active foreign exchange trading, funding the initial capitalisation of a company, speculation (derivatives or any other financial instrument) and remittances to Bhutan, Nepal, Mauritius and Pakistan or other non-cooperative countries.

Out of so many investment options available, overseas property investments is becoming one of the favourite asset classes among investors because of their relatively low volatility and risk. There are a couple of other reasons for investing in real estate aside from portfolio diversification. For example, people invest in residential properties outside India if they travel to those countries frequently, have business interests there or have kids who are studying abroad. It is also a status symbol to own property abroad. The preference for investment prominently depends on cost of ownership, taxes, residency rules, economic condition, etc. Dubai, Singapore, Sri-Lanka, Switzerland, Mauritius, London, New York and Malaysia are some of the preferred countries where Indians invest.

Now, given the wide range of investment options available in real estate, investment in residential property is quite popular, especially, holiday homes, studio apartments and villas in panoramic locations like Switzerland, Sri Lanka and Dubai. The current limit of around US$250,000 is sufficient to buy a studio apartment or a small apartment in most of these countries. Moreover, as the rules state, this limit is per individual. One can remit more amounts per financial year depending on the number of family members.

Purchasing properties is becoming even more convenient because in most countries, if one is buying under-construction property, the payment can be done in several years, similar to India. However, some countries like Cyprus, Hungry, Portugal, Malaysia and Oman permit investment in their properties only if the investment crosses a certain limit.

While investment in outside properties provides better risk-return trade-off, investors need to be aware of the limitation of global diversification. In mature countries, the risks of delayed project completion, quality, exit and land title, among others, is relatively low, whereas emerging economies still face these problems. Assuring legality of the titles of properties is also very important. One should know whether the property is leasehold or a freehold. For example, in Dubai, some developers sell leasehold titles, in which the title is valid for the period stipulated in the lease agreement. In countries like Cyprus, the ownership of many properties is disputed. Thus, one needs to be aware of local laws and check all the paperwork personally when purchasing property abroad.

It is also advisable to obtain the help of agents and legal consultants to ensure that the total cost and procedures for buying property abroad are accurate. In a few countries, the formal process of buying a property is still not very clear. Therefore, before entering into any agreement, it is better to seek the assistance of local consultants about the legalities. The bottom line is that you should make sure that you understand what you are getting into.

If planned right, investment across borders really makes sense for the purpose of diversification and risk-return trade-off. With the RBI increasing the limit, one can explore decent options in the cross-border property market.

14.02 | 0 komentar | Read More

F1 2015: Lewis Hamilton claims pole at Australian GP

The 2015 season of Formula 1 could well be another season of Mercedes domination. The performance of the Silver Arrows in testing indicated they'd be strong this year and their performance during qualifying at the Australian GP is another indicator of just how strong the team is likely to be in 2015. Lewis Hamilton took pole position at Melbourne, followed home in a close second position by Nico Rosberg with the team locking out the front row. It wasn't an easy run for Rosberg in Q3 though, and errors meant that he was not able to take the... Read More

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Spied: 2015 Chevrolet Trailblazer SUV testing in India

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video of the day Budget 2015-16: Revive capex through savings on cheap crude says Kotak Sec

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Steve Thomas clinches the pole position for the super qualifier in Tata T1 Prima Truck Racing Championship 2015

Steve Thomas clinches the pole position for the super qualifier in Tata T1 Prima Truck Racing Championship 2015

It is season two and the hard charging behemoths from Tata's stables are back at the Buddh International Circuit at Greater Noida in India. The Tata T1 Prima Truck Racing Championship, compared to the inaugural 2014 season, promises to be an even more exciting and action packed event this year and the qualifying session that was held today showcased that the leaps by which the Prima race truck's performance has increased. Last year's winner Stuart Oliver, missed the pole by just a few tenths of a second. The Team Castrol Vecton driver's... Read More

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Mutual Funds plunge as Sensex tanks 427 points

Mutual Funds across categories plunged as the market reversed all its gains on Friday, reacting to the fears that rate cut cycle may get stopped due to rise in CPI inflation. The Sensex shed more than 680 points from day's high. However, the index had climbed 253 points in morning trade today following clearance to Insurance Bill by Rajya Sabha. Performance wise, all the funds in the equity category closed in negative terrain. Even funds in the sector funds were in line with market performance and closed in red.

The 30-share BSE Sensex fell 427.11 points or 1.48 percent to close at 28503.30 and the 50-share NSE Nifty dropped 128.25 points or 1.46 percent to 8647.75. The broader markets plunged too, the BSE Midcap and Smallcap indices were down 1.4 percent and 1.5 percent, respectively. More than two shares declined for every share advancing on the Bombay Stock Exchange.

On the Fixed income front, debt funds too ended with negative returns. The government bond (G-Sec) prices declined on the back of fresh selling pressure from banks and corporates amidst profit-taking by market participants. The 8.40 per cent 10-year benchmark bond maturing in 2024 fell to Rs 103.9450 from Rs 104.4450, while yield went up to 7.80 per cent from 7.72 per cent.

Check out all mutual fund gainers & losers

Here is the day's performance and the gainers and losers across categories.

Equity diversified: Top gainers

*  Birla Sun Life International Equity Fund - Plan A (G) up 1.16%
*  Birla Sun Life Commodity Equities - Global Agri Plan - Retail Plan (G) up 0.96%
*  Franklin Asian Equity Fund (G) up 0.04%

Equity diversified: Top losers

*  Sahara Star Value Fund (G) down 2.42%
*  Reliance Capital Builder Fund II - Series A (G) down 2.15%
*  Birla Sun Life Emerging Leaders Fund - Series 3-Regular Plan (G) down 2.04%

Tax saving funds: Top gainers

*  No Gainers

Tax saving funds: Top losers

*  Sahara Tax Gain (G) down 1.88%
*  Union KBC Tax Saver Scheme (G) down 1.79%
*  IDBI RGESS Fund - Series I - Plan A - Regular Plan (G) down 1.79%

Sector funds: Top gainers

*  No Gainers

Sector funds: Top losers

*  Taurus Banking & Financial Services Fund (G) up 2.02%
*  Sahara Banking and Financial Services Fund (G) up 1.81%
*  Religare Invesco Banking Fund - Regular Plan (G) up 1.77%

Balanced funds: Top gainers

*  No Gainers

Balanced funds: Top losers

*  UTI CCP Advantage Fund (G) down 1.37%
*  Reliance Regular Savings Fund - Balanced Option (G) down 1.35%
*  ICICI Prudential Child Care Plan - Gift Plan down 1.35%

Debt funds: Top gainers

*  DWS Arbitrage Fund - Regular Plan (G) up 0.15%
*  JPMorgan India Treasury Fund - Regular Plan (G) up 0.06%
*  JPMorgan India Treasury Fund - Super Institutional Plan (G) up 0.06%

Debt funds: Top losers

*  Motilal Oswal MOSt Focused Long Term Fund - Regular Plan (G) down 1.57%
*  SBI EDGE Fund (G) down 0.81%
*  ICICI Prudential Long Term Plan (G) down 0.49%

For more Mutual Fund News click here >>

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HUL acquires 7500 equity shares of Bhavishya Alliance Child Nutrition Initiatives

Hindustan Unilever has acquired 7500 equity shares of face value of Rs 10 each of Bhavishya Alliance Child Nutrition Initiatives.

Hindustan Unilever Ltd has informed BSE that the Company has acquired 7500 equity shares of face value of Rs.10/- each (75% of the equity share capital) of Bhavishya Alliance Child Nutrition Initiatives (Bhavishya Alliance), a Not for Profit Company.The Company was earlier holding an investment to the extent of 25% of the equity share capital of Bhavishya Alliance. Consequent to the acquisition of remaining 75% of the equity share capital, Bhavishya Alliance has become a wholly owned subsidiary of Hindustan Unilever Limited with effect from March 12, 2015.Bhavishya Alliance was incorporated on October 03, 2010 as a Not for Profit Company to work in the areas of Social, Economical and Environmental issues.Source : BSE

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DGCA to keep eye on air fares

The Directorate General of Civil Aviation (DGCA) has asked the airlines to provide the quantum (percentage) of the tickets sold by them at different pricing levels (highest and lowest fares buckets) for each sector over the next few months, sources close to the developments said.

Aviation regulator DGCA has decided to keep an eye on air fares to check any "exorbitant" and "predatory" pricing by the domestic carriers.

The Directorate General of Civil Aviation (DGCA) has asked the airlines to provide the quantum (percentage) of the tickets sold by them at different pricing levels (highest and lowest fares buckets) for each sector over the next few months, sources close to the developments said. The data collected would be anlaysed for any "noticeable" trend and consequent action, they said.

"Airlines have been told by the DGCA to furnish the data (on the highest and lowest fare buckets) in each sector. We will see (monitor) the data for 2-3 months and then we what best can be done," a source said. However, various flash sales offers which were announced by airlines from time to time, have been kept out of this monitoring process, they said.

The government has time and again maintained that the fares are always market driven and it cannot regulate them. However, late last year, the civil aviation ministry had circulated an internal note, suggesting for a minimum and maximum threshold for the economy class fares. Under the existing regulation, airfares are not regulated by the government and airlines are free to fix reasonable charges/fee subject to compliance with Aircraft Rules 1937, Minister of State for Civil Aviation Mahesh Sharma had recently said.

The note said "Airlines have been offering huge discounts due to intense competition. If the situation is not contained, some airlines may face closure in the near future. "Therefore, steps may be taken to fix minimum airfare to be charged by each airline." "There is a need to cap maximum economy class airfare at a reasonable price of about Rs 20,000 beyond which airline should not be allowed to charge, exploiting passengers' urgency for travel due to various reasons," the note had said.

In a written reply in Parliament, Mahesh Sharma had earlier this week said, "Under the existing regulation, airfares are not regulated by the government and airlines are free to fix reasonable charges/fee subject to compliance with Aircraft Rules 1937."

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Sunny outlook for solar generators: CARE Ratings

CARE Ratings expects its ratings on grid connected solar players to remain stable on back of conducive policy framework, satisfactory operating levels and reducing gap in tariff compared with conventional sources. "Sunny outlook for solar generators; counterparty risk a dark cloud", says the rating agency.

CARE Ratings expects its ratings on grid connected solar players to remain stable on back of conducive policy framework, satisfactory operating levels and reducing gap in tariff compared with conventional sources. Counterparty risk remains a key rating challenge. Going forward, CARE Ratings believes, by 2017-2018 solar tariffs will converge with grid tariffs leading to proliferation of solar-based capacity across various states. This shall bring off-taker-related risks much sharply into play.

While arriving at the ratings for the solar players, key factors that drive the rating decision are regulatory framework, operating performance, counterparty risk and adequacy of cash flows in relation to the borrowings. CARE has ratings outstanding on 27 solar players as on December 31, 2014. This paper delineates CARE's experience on each of these issues.

India is an attractive geography for harnessing solar energy. Solar radiation is around 5,000 trillion kWh per annum and most parts of the country enjoy 300 clear sunny days a year. The power generation capacity based on solar has witnessed a significant jump in the last few years and crossed the 3,067 mega-watt (MW) mark as on December 31, 2014, due to policy push by both central and state governments such as National Solar Mission (NSM) and various state initiatives. Of the total installed renewable capacity of 33,792 MW as on December 31, 2014, solar-based capacity contributes about 9%, which few years back was less than 1%, clearly demonstrating the increased focus for this widely available source of power. Ministry of New and Renewable Energy (MNRE) has unveiled an ambitious plan for increasing the country's solar capacity, setting a target of 10,000 MW by 2017 and 100,000 MW by 2022.

Disclaimer
This report is prepared by Credit Analysis & Research Limited (CARE Ratings). CARE Ratings has taken utmost care to ensure accuracy and objectivity while developing this report based on information available in public domain. However, neither the accuracy nor completeness of information contained in this report is guaranteed. CARE Ratings is not responsible for any errors or omissions in analysis/inferences/views or for results obtained from the use of information contained in this report and especially states that CARE Ratings has no financial liability whatsoever to the user of this report.

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Inflation inches up, IIP slows: CRISIL Research

For 2015-16, CRISIL Research expects inflation to average at 5.8% supported by lower oil prices, normal monsoons, pro-active steps by the government, and better monetary and fiscal coordination. Expect RBI to reduce the repo rate by 50bps in the next fiscal and it is likely that these reductions will be frontloaded, says the report.

CRISIL Research's report on economy

In February CPI inflation rose to 5.4% from 5.2% in January, driven by higher food inflation (+60 bps) while core inflation edged down for the seventh consecutive month. Despite higher food inflation, headline inflation remains in the comfortable zone. Assuming inflation remains the same in March, headline inflation for 2014-15 will stand at 6% - much lower than 9.5% in 2013-14.

However, going ahead certain risks have emerged. Untimely rains in recent days have adversely impacted Rabi crops in the north and central India. As a result, inflation might inch higher or remain close to current levels in the coming months. In addition, increase in freight charges and petrol and diesel prices might reduce the benefit from lower transport and communication inflation.

For 2015-16, we expect inflation to average at 5.8% supported by lower oil prices, normal monsoons, pro-active steps by the government, and better monetary and fiscal coordination. In addition, the recent budget is non-inflationary as it focuses on boosting supply and capacity rather than fuelling consumption. Given our outlook on inflation, we expect RBI to reduce the repo rate by 50bps in the next fiscal and it is likely that these reductions will be frontloaded.

In January, industrial production grew by 2.6% compared to an upwardly revised 3.2% in December. Sectors which dragged down growth were telephone instruments (including mobile phone and accessories), mineral index, steel structures, tractors and ship building and repairs. This month, the silver lining came from capital goods, which posted growth of 12.8% - the third consecutive month of strong uptick. However, the January reading of overall IIP data fails to suggest that a sharp uptick in industrial growth is in the making. Nevertheless, for 2014-15 we expect industry (including construction) to grow at 5.9% as per the new GDP series. Going forward, in 2015-16 we expect growth at 6.2% led by; (i) an improvement in private consumption demand as it benefits from an increase in discretionary spending, as food and fuel inflation decline, (ii) faster implementation of stalled infrastructure projects as the investment climate improves, and (iii) a pick-up in mining activity.

Disclaimer
CRISIL Limited has taken due care and caution in preparing this Report. Information has been obtained by CRISIL from sources, which it considers reliable. However, CRISIL does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. CRISIL Limited has no financial liability whatsoever to the subscribers / users / transmitters / distributors of this Report. The Centre for Economic Research, CRISIL (C-CER) operates independently of and does not have access to information obtained by CRISIL's Ratings Division, which may in its regular operations obtain information of a confidential nature that is not available to C-CER. No part of this Report may be published / reproduced in any form without CRISIL's prior written approval.

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Gujarat Pipavav Port's MD Prakash Tulsiani resigns

Gujarat Pipavav Port Ltd has informed BSE that Mr. Prakash Tulsiani has resigned as Managing Director and as a Director with effect from May 31, 2015 to pursue other career opportunities.

Gujarat Pipavav Port Ltd has informed BSE that Mr. Prakash Tulsiani has resigned as Managing Director and as a Director with effect from May 31, 2015 to pursue other career opportunities.Source : BSE

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Sumitomo MTB completes acquisition of strategic stake in Reliance Capital

Sumitomo Mitsui Trust Bank, Limited of Japan has completed acquisition of 2.77 percent strategic stake in Reliance Capital, a part of Anil Ambani led Reliance Group. The entire proceeds of Rs 371 crore (USD 58.4 million) for the 2.77 percent stake has been duly received from Sumitomo Mitsui Trust Bank, Limited.

Reliance Capital Ltd has informed BSE regarding a Press Release dated March 12, 2015, titled "Sumitomo Mitsui Trust Bank of Japan Completes Acquisition of 2.77 per cent Strategic Stake in Reliance Capital". Sumitomo Mitsui Trust Bank, Limited of Japan has completed acquisition of 2.77 percent strategic stake in Reliance Capital, a part of Anil Ambani led Reliance Group. The entire proceeds of Rs 371 crore (USD 58.4 million) for the 2.77 percent stake has been duly received from Sumitomo Mitsui Trust Bank, Limited. Sumitomo Mitsui Trust Bank, Limited had agreed to acquire strategic stake in Reliance Capital, subject to regulatory and shareholders approvals, which have since been received.Source : BSE

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IVRCL climbs 7% on orders for water, building divisions

Shares of IVRCL rallied more than 7 percent intraday Thursday on winning orders by water, building divisions.

Moneycontrol Bureau

Shares of  IVRCL rallied more than 7 percent intraday Thursday on winning orders by water, building divisions.

In building division, the Hyderabad-based infrastructure company has received real estate order from Government of India (Department of Atomic Energy, civil engineering division in Tamilnadu). "The value of work is Rs 163.12 crore and the completion period is 30 months," it says.

The second order was worth Rs 86.04 lakh from National Institute of Biomedical Genomics, Kalyani.

IVRCL also received two orders in water division, wherein one was worth Rs 61.62 crore from Bangalore Water Supply and Sewerage Board and the second was worth Rs 57.50 lakh from Greater Hyderabad Municipal Corporation.

At 11:45 hours IST, the scrip of IVRCL was quoting at Rs 18.05, up Rs 1.05, or 6.18 percent.

Posted by Sunil Shankar Matkar

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Wheels India: Updates on credit rating by ICRA

Wheels India Ltd has informed BSE that the Credit Rating Agency ICRA, has upgraded the long term rating on funded facilities of the Company to [ICRA]A+ (Stable) (pronounced ICRA A plus) from [ICRA]A (Stable) (pronounced ICRA A).

Wheels India Ltd has informed BSE that the Credit Rating Agency ICRA, has upgraded the long term rating on funded facilities of the Company to [ICRA]A+ (Stable) (pronounced ICRA A plus) from [ICRA]A (Stable) (pronounced ICRA A).Source : BSE

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Jindal Steel Power's EGM on April 06, 2015

Jindal Steel & Power Ltd has informed BSE that an Extra Ordinary General Meeting (EGM) of the Company will be held on April 06, 2015.

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Ashok Leyland, Tata Motors preferred picks: Ashish Nigam

Ashish Nigam, auto analyst at Axis Capital is of the view that Ashok Leyland, Tata Motors, Eicher Motors and Motherson Sumi Systems are the prefered picks.

Ashish Nigam, auto analyst at Axis Capital told CNBC-TV18, "As far as the two wheeler sector is concerned, demand is slow at the moment especially in rural regions because the unseasonal rainfall last week have damaged lot of standing crops. So, rural demand is weak which is hurting two wheelers."

"On the car side, most dealers we interact with are very optimistic because discounts have tapered sharply. It is expected to taper even further because of all the new launches. Pent up demand is something that everyone is talking about because footfalls have increased sharply, conversions are yet to pickup and that is a sign of huge pentup demand," he
said.

"Even for commercial vehicles, our preference is for four wheelers over two wheelers. So, Maruti Suzuki  fits into that preference. In commercial vehicles, ground level monitorables are throwing up very encouraging signs. You have had freight rates which are very firm despite 11 percent crack in diesel prices last year. So, that has improved trucker profitability and as a result the commercial vehicle (CV) cycle should be much sharper than expected."

"So, our view is clearly preference for four wheelers over two wheelers and our preferred picks are companies like Ashok Leyland , Tata Motors , Eicher Motors  and Motherson Sumi Systems ," he added.

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DHFL, Lupin buys equate meeting Aishwarya Rai: Jhunjhunwala

Sometimes a stock's story is too overwhelming to ignore; you just go and pick it up. Later one can sit and investigate the merits, says ace investor Rakesh Jhunjhunwala. He cites buying Lupin and  Dewan Housing with such mindset ---he calls is invest now, investigate later mindset, and likens it to dating Aishwariya Rai, silver screen's most compelling face.

Below is an interesting peice of conversation between three market masters--Junjhunwala, Ramesh Damani and N Jayakumar discussing the importance of education as well as investment strategies.

Jayakumar: It is kind of appropriate in today's forum that we talk about education. You have had to an extent what you would consider education enough to make you sort of take on the world, a street fighter. People have run out of adjectives but do you have any regrets that you could have studied a lot more and become a lot less successful as a corollary?

Jhunjhunwala: I have no regrets in life about anything except my habits. So I don't regret and I don't think that education is what makes you -- street fighters are born, they are not made because it comes from determination and guts. I don't think the determination and guts come with education. Education gives me the ability to understand, education gives me the ability to be civil and I think -- I did chartered accountancy and I think it is one of the best education anybody could have. It is not a very glamorous education but it is a brass-tacks education and it made me understand financial matters, it also gives me the understanding of law, which is very necessary. To interpreting the Budget, you need to understand the law; what the Finance Bill means? So I think I had that education which gave me the right cutting edge in terms of understanding and of course I am a street fighter. 

I do not know whether it came with my education. Research shows that formalized education takes away entrepreneurship because you reason and you analyze.

Don't Miss: I want to know Flipkarts business model: Jhunjhunwala

Damani: One of the things that you are famous for on the street, you have many colorful sayings, is 'invest before you investigate'. The fact is that if you find something, go buy it and then do all the research. Is that still a driving force of how you look at markets?

Jhunjhunwala: Sometimes market gives such compelling opportunity like Dewan Housing. It had Rs 230 book value, 6 percent yield, 4 times earnings, growing at 20 percent for the last ten years, available at Rs 105 - I gave an order for 5 million shares, we will think about it later -- such ridiculous valuations!!! I bought Lupin because I knew one thing that Ranbaxy had earned Rs 250 crore in a single product. Lupin had only injectable Cephalospor in approved FDA plant in Asia. They were the single filer for a product having a size of USD 360 million and the marektcap was Rs 200 crore. What is there to think? So those kind of situations are like invest now, investigate later.

Damani: Does the market then tell you also to back up the truck in these situations. Jhunjhunwala: Yes and then you research later. I bought my first five million shares of DHFL and after I bought the next whatever shares I bought, I did a lot of further research. Today it is like meeting Aishwarya Rai, what are you thinking!! You date her without thinking.

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Sell GBPINR around 95.00; target of 94.75/94.50: Way2Wealth

Way2Wealth has come out with its report on currencies. According to the research firm, one can sell GBPINR around 95.00 for target of 94.75 / 94.50 with a stop loss of 95.30

Way2Wealth's report on currencies

USDINR (62.83)
 
Exactly as we mentioned in our weekly report, the week kicked off on a strong note for USDINR. The pair surged towards the 63 mark on excellent US Job's data. However, some possible intervention from central bank curbed further fall in INR.

The hourly chart now depicts a huge gap between 62.60 62.80 levels. In the upcoming session, the pair might consolidate in the given range after such a steep rise. On
the higher side, 63.05 will remain a key resistance.

GBPINR (95.00)

In line with the bearish view, yesterday GBPINR started the session with a gap down opening and tumbled below the target of 95 and recovered a bit in the second half.Overall the pair closed with a loss of 0.31%.

In the upcoming session, yesterday's low of 94.76 will now act as an immediate support for the pair. A move below the same might further drift GBPINR towards 94.50 mark.

EURINR (68.39)

Similar to GBPINR, even EURINR traded with pessimism throughout the session. The pair sneaked below the FLAG support of 68.95 and approached the target of 68.00 to close with a percent loss.

We continue to remain bearish on the pair for the coming sessions also. In such scenario a breach of 68.22 level can bring the pair further lower towards 68.00 and 67.50
levels.

Currency : GBPINR
Action : Sell Around
Entry : 95.00
Target : 94.75 – 94.50
Stop Loss : 95.30

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.

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EURINR likely to trade on positive note: Sushil Finance

According to Sushil Finance, EURINR is likely to trade on the positive note on the back of extension of Greece's financial rescue package by four months.

Sushil Finance's report on rupee

EURINR

The euro is expected to remain under pressure against the greenback as the European Central Bank started its 1 trillion-euro bond-buying programme on Monday.

The European Central Bank and central banks in the euro zone have started purchases under its quantitative easing programme to buy chiefly government bonds, the ECB said on Twitter on Monday.

"ECB and Eurosystem national central banks have, as previously announced, started purchases under the public sector purchase programme," the bank said on Twitter.

Greece's financial reforms are in focus. Dutch Finance Minister Jeroen Dijsselbloem, president of the Eurogroup of finance ministers, said Athens must start discussions for completing its bailout program and implementing reforms.

Outlook

We expect EURINR is likely to trade on the positive note on the back of extension of Greece's financial rescue package by four months.

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. 

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It's consolidation time, sub 8K can be bad: Jhunjhunwala

Market is headed towards consolidation in the near term, cautions big bull Rakesh Jhunjhunwala. But there is nothing to worry until and unless Nifty moves below 8000.

In an exclusive conversation with Ramesh Damani and N Jayakumar, Jhunjhunwala says he expects the market to pause for a while after what has been a dream run for the bull market in the last one year.

"There is lower quality which is available but for that lower quality we have to have lot of patience. Since the market had a run up from 5,200 to 9,000, I think it would consolidate here at these levels rather than run away."

Jhunjhunwala further adds that the kind of volumes seen in individual stocks is an indicator that we are going to pause. As the market moves higher, the rise gets faster, he asserts. "I do not think that it will make a top which will be a top for a year or two years. However, we could surely consolidate."

As an example he cites market moves —from 5,200 to 9,000 — and reminds individual stocks have had a dream run. "Even the good quality companies --Rs 1,000 per share  Tech Mahindra is Rs 2,800. Rs 600 per share Lupin is Rs 1,800 per share now."

Catch the first part of conversation here

Rest of the discussion went this way:

Damani: What makes you so bullish on this country?

Jhunjhunwala: Where there is return on equity (RoE) then earnings growth is a function of nominal GDP growth. Suppose I keep on increasing the earnings by injecting capital and there is no return on equity then earnings growth means nothing. Only when there is RoE -- economic growth has to lead to earnings growth accompanied with RoE then only will the markets value it. China's economy expanded, but the markets didn't expand because their RoE doesn't go up.

Damani: This bull market will correct how much before you would be scared?

Jhunjhunwala: I feel we have bull market like we had in 1990 -- the Nifty can go to 9,500, it is at 9,000 today, anything below 8,000 will be worrisome. One day we will tell people not to buy shares and they won't listen to us.

Jayakumar: They will laugh at us.

Jhunjhunwala: They will laugh at us.

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Stay invested in Monnet Ispat, says Sudarshan Sukhani

Sudarshan Sukhani of s2analytics.com is of the view that one may stay invetsed in Monnet Ispat.

Sudarshan Sukhani of s2analytics.com told CNBC-TV18, "If you are a long-term investor you stay invested in Monnet Ispat  and hope for the best. If you have the courage you get out of the stock now and move into pharma, IT and banks inspite of the corrections. These are the sectors that will do much better in the next two years."

At 12:19 hrs Monnet Ispat was quoting at Rs 65.90, up Rs 2.20, or 3.45 percent. It has touched an intraday high of Rs 67.40 and an intraday low of Rs 63.60.

Disclosure: Analyst does not have positions in the stock.

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Gammon Infrastructure's AGM on March 31, 2015

Gammon Infrastructure Projects Ltd has informed BSE that the 14th Annual General Meeting (AGM) of the Company will be held on March 31, 2015.

Gammon Infrastructure Projects Ltd has informed BSE that the 14th Annual General Meeting (AGM) of the Company will be held on March 31, 2015.Source : BSE

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Sell US$INR March; target of 62.79-62.60: ICICIdirect

ICICIdirect expects the US dollar to meet supply pressure on rallies against the rupee. One can utilise rallies in the US$/INR March contract to sell at the range of 62.97-63.09 for the target of 62.79-62.60.

ICICIdirect.com's report on currency

Forex (US$/INR)

The rupee rose against the US currency, snapping four days of losses, as foreign fund inflows offset losses driven by a globally stronger dollar

The Indian currency ended the day at 62.16, up 0.25% from the previous close of 62.25

The dollar index against six major currencies ended at 97.72, up 1.43% from the previous close of 96.34

US$/INR derivatives strategy: Sell March contract

In the currency futures market, the most traded dollar-rupee March contract on the NSE closed at 62.47. The March contract open interest was down 2.40% from the previous day

April contract open interest was up 7.99% from the previous day

We expect the US dollar to meet supply pressure on rallies against the rupee. Utilise rallies in the US$/INR March contract to sell

Intra-day strategy

US$/ INR Mar futures contract (NSE)	View: Bullish on US$
Sell US$INR in the range of 62.97-63.09	Market Lot: US$1000
Target: 62.79-62.60	Stop Loss: 63.19
Support: S1/ S2: 62.65/62.45	Resistance: R1/R2:62.95/63.15

 

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.

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