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Rajendra Electrical Industries informed the market that in the meeting that was held on December 29th 2008 , the board of directors have decided that the Company will issue bonus shares in the proportion of one share for every share held.
Tantia Constructions receives order from Mizoram and the value of the order is worth 42.33 crores,the order iis for rework like upgradation and strengthening of Aizawl Civil Hospital, Mizoram and also Champhai Civil Hospital, Mizoram.
Punj Lloyd informed the market that one of its Singapore based company Simon Carves Singapore Pte. Ltd, a subsidiary of the Company in Singapore has received a LOI from ExxonMobil Asia Pacific Pte. Ltd for construction contract for Jurong Strategic Study project at Jurong Lubes Terminal, Singapore for a value of S $ 44,700,000 .
Punjab National Bank informed the market that they have started new scheme called “PNB Special Housing Loan Scheme”Through which for any new housing loan that they are going to offer from January 01, 2009 till June 30, 2009.
>Interest would be at 8.5 percent will be charged under fixed housing loan upto Rs 5 lacs for maximum period upto 20 years and
>9.25 percent interest for fixed rate housing loans of above Rs 5 lacs to Rs 20 lacs for a maximum period upto 20 years. The interest rate will be subjected to reset on July 01, 2014 for the scheme.
Compucom Software Ltd has informed the market that the Company has been awarded an order by Secondary Education Department, Rajasthan for supply of various Software Packages of Microsoft in 2500 Govt. Schools of Rajasthan. The Order value is worth Rs 7.67 Crores and an MOU has been signed in this regard with Secondary Education Department.
KEC International which is part of the RPG enterprise is into power transmission and EPC business had infoirmed the market that they have bagged a huge international Order worth Rs 678 Crore.The good news is its already funded by will be funded by the European Investment Bank and the Egyptian National Bank , The order is from the Egyptian Electricity transmission company.
Its almost 2009 and we would have already started preparing the papers for the income tax filing for year 2008-2009 and so we will be looking for the ELSS funds to invest , I’m already getting mails from so many of you asking which ELSS fund to invest , What i have done here is i have gone over various mutual fund site and have come with the pick of may be 35 ELSS Funds.
They are graded based on the following
1.How old they are
2.What was the return over a year – Sorry everything will be negative only as you know how the market was.
3.Risk Involved
4.How much expenses is involved to acquire the ELSS Fund.
Disclaimer
We dont hold any of this Fund and im not recommending any fund in particular you decide it and have given links to various Fund information here so do your match and invest wisely.
ELSS Fund Details.
Fund Name Launch
DateRank Risk Return Return %
for 1 yearExpense
factorMagnum Taxgain Mar-93 5 Below
Avg.High -55.63 2.5 Sundaram BNP Paribas
TaxsaverNov-99 5 Below
Avg.High -48.62 2.24 Canara Robeco Equity
Tax SaverMar-93 4 Avg. Above
Avg.-47.76 2.5 Franklin India Taxshield Apr-99 4 Low Above
Avg.-50.14 2.24 HDFC Taxsaver Mar-96 4 Below
Avg.Above
Avg.-52.48 1.98 Principal Personal Tax Saver Mar-96 4 Above
Avg.Above
Avg.-61.65 2.3 Sahara Tax Gain Mar-97 4 Avg. Above
Avg.-49.44 2.5 Birla Sun Life Tax Plan Feb-99 3 Avg. Avg. -57.2 2.44 Birla Sun Life Tax Relief 96 Mar-96 3 Above
Avg.Avg. -63.4 2.21 HDFC LT Advantage Dec-00 3 Low Avg. -52.68 2.15 Principal Tax Savings Mar-96 3 Above
Avg.Avg. -65.06 2.35 Tata Tax Saving Mar-96 3 Avg. Avg. -54.95 1.16 Taurus Tax Shield Mar-96 3 High Avg. -54.17 2.49 UTI Equity Tax Savings Dec-99 3 Below
Avg.Below
Avg.-55.02 2.33 Baroda Pioneer ELSS 96 Mar-96 2 Avg. Below
Avg.-57.13 1.69 ICICI Prudential Tax Plan Aug-99 2 Above
Avg.Avg. -56.34 2.1 Kotak Tax Saver Oct-05 2 Above
Avg.Below
Avg.-59.28 2.3 LICMF Tax Plan Mar-97 2 Avg. Below
Avg.-57.23 1.26 Reliance Tax Saver Aug-05 2 Below
Avg.Below
Avg.-53.14 1.91 DBS Chola Tax Saver Oct-05 1 Avg. Low -58.77 2.49 ING Tax Savings Mar-04 1 High Low -64.95 2.5 DSPBR Tax Saver Dec-06 – – -55.64 2.23 DWS Tax Saving Feb-06 – – -57.66 2.25 Escorts Tax Plan Mar-00 – – -59.18 2.5 Fidelity Tax Advantage Jan-06 – – -50.34 2.06 Fortis Tax Advantage Plan Dec-05 – – -65.46 2.44 Franklin India Index Tax Feb-01 – – -52.56 1.5 HSBC Tax Saver Equity Dec-06 – – -52.1 2.36 Lotus India Tax Plan Dec-06 – – -48.73 2.5
PBA Infrastructure informed the market today that they have received 2 contracts worth Rs 47.96 Crores.
>First project from Maharashtra Industrial Development Corporation for for Rajiv Gandhi Infotech Park and the amount of the project is Rs 29 crore.
>The second project is from Mumbai Metropolitan Region Development Authority for balance and additional works of Widening and Construction of Eastern Express Highway the anount of the project is 19 crore.
Era Infra Engineering Ltd has informed the market wednesday that they have bagged a contract for the Erection, Testing, Commissioning, Trial Run, Handing Over, PG Test etc. of Balance Work of 500 MW Unit No VII Boiler at Kahalgaon TPS, Dist – Bhagalpur, Bihar by Bharat Heavy Electricals Ltd (BHEL) valuing Rs 9,62,20,000 .The good news here is the raw material will be provided free of cost by BHEL to Era infra engineering , which is good for ERA Infra.
Punj Lloyd Ltd has informed the market wednesday that they have received a contract from Municipal Corporation of Delhi for a value of Rs 303.95 Crores for development of parking facility near Jawaharlal Nehru Stadium for the forthcoming Commonwealth Games 2010.
Inflation for week ending december 13th 2008 is announced and its hovering at 6.61 percent compared to 6.84 percent previous week.
Here is the List of Gold ETF that is available in India and you can see the performance of each Fund since the launch , Over here every single ETF represent 1 Gram of Gold except Quantum Gold Fund which is 1/2 a Gram of gold , and we can go on arguing why the rate for every Gold ETF is not the same as they represent 1 gram of gold its just because of varying operating expenses and cash component and other inner expenses involved in trading the ETF .
Fund NAV (Date) Returns(%) Kotak Gold ETF 1,291.11 (22-Dec) 31.43 UTI Gold ETF 1,317.25 (23-Dec) 21.24 Reliance Gold ETF 1,259.16 (22-Dec) 20.68 Gold Benchmark ETF 1,314.26 (23-Dec) 20.57 Quantum Gold 656.37 (23-Dec) 6.71
Satyam Computer Services is barred from doing business with World Bank for the next 8 years this is kind of blow to satyam which is like trying to get out of the acquisition mess of Maytas Infra and Maytas Properties.There is some confirmed news in FOX new service that is saying this that st least in the earlier case of acquisition there is not direct impact in the revenue but this is big and it impacts the projects that they would have got from world bank and also this will impact the Clients Confidence of any Banks that they might get project from .The reason for barring i heard is that they provided improper benefits to bank staff and failed to maintain documentation to support fees charged for its subcontractors.
This came into effect from February and from that moment to September think it was temporary barring and now they have may be come out with the verdict after September.So today there was some rumor also that the President Ramalinga Raju is resigning and not sure if it was true the stock saw some pressure and closed at 140 , tomorrow will be more interesting to see.Already the stock got down by 13 to 15 percent today in ADR.
Morgan Stanley Growth Fund which was decided to go as Open ended scheme has announced the Record date and also have goven dates upto which we can exit from it if you want before going into open ended scheme.
Morgan Stanley Investment Management Private Ltd has now announced that “Board of Directors (‘BoD’) of Morgan Stanley Investment Management Private Ltd (‘AMC’) and Board of Trustees (‘BoT’) have fixed December 15, 2008 as (Record Date) to take into account the complete list of unit holders of MSGF. Please note that option exercise letter would be dispatched providing such unit holders an opportunity to exercise options i.e. [i] to continue to remain invested in MSGF; [ii] to redeem their units [partly or fully]; or [iii] switch their units [partly or fully] in Morgan Stanley A.C.E Fund of MSMF during exit option period commencing from December 18, 2008 and expiring on January 16, 2009. After the expiry of the exit option period, MSGF would become an open-ended fund.
| Taj Gvk Hotels & Resorts Ltd informed the market that it had opened a five star hotel in chennain and its called Taj Mount Road on December 22, 2008.This is really news to me im kind of always looking put fpr new hotels and now im kind of amazed how is missed this 5 star hotel. | 
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Jaiprakash Associates informed the market that on December 22nd 2008 they have approved the amalgamation of Jaypee Cement Ltd (JCL), Gujarat Anjan Cement Ltd (GACL), Jaypee Hotels Ltd (JHL) and Jaiprakash Enterprises Ltd (JEL), (the “Transferor Companies”) with Jaiprakash Associates Ltd (the “Transferee Company.
Record Date will be fixed soon and the stocks will be trasfered in the following ratio.
> If you have 10 JCL you will get 1 Jaiprakash Associates of rs 2 each.
> If you have 11 GACL you will get 1 Jaiprakash Associates of rs 2 each.
> If you have 1 JHL you will get 1 Jaiprakash Associates of rs 2 each.
> If you have 1 JEL you will get 1 Jaiprakash Associates of rs 2 each.
| Toyoto informed the tokyo stock exchange that it will almost lose $1.5 billion to $1.7 billion US dollar this fiscal year. They normally have the Fiscal year starting from April to and ending in march , some what like Indian company.Its to be noted that this would be the first Operating Loss after 1950.Still they will close the year by showing profit of 775 Million dollar , but if this prolongs for sure next fiscal they will show a total loss instead of profit. | 
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Main reason for the Operating loss is in the place of 7.5 million car sales that they did previous year ,they did only 1.4 million less than that .
State bank of india announced over weekend that they have cut the BPLR by .75 percent , This means that the BPLR which governs the Home loan lending rate is also cut and now it stands at
Loan Rates
>9 per cent for loans up to Rs 30 lakh for a period of five years.
>For loans that are between period of 5 to 15 years the revised interest rate is 9.25 per cent.
>For Loan above 15 and below 25 years rate will be 9.5 per cent.
This will come into effect from January 1.
KEC International bags order worth rs 88 crore from Tajikistan-Afghan.The order is from Barki Tojik, national electricity company of Tajikistan. The order is togeather finded by Asian Development Bank and also OPEC fund for International Development,This is to supply and contruct 220 kV double circuit lines associated with the Tajikistan-Afghanistan Interconnection Project for the Tajikistan Portion.
>ONGC Board declares Interim Dividend of 180% which is 18 rs per 10 rs fully paid equity share.
>Engineers India Board declares Interim Dividend of 45% which is 4.5 rs per fully paid equity share.
>MRF Board recommends final dividend of 140% this is excess to already paid 60 percent this year so totally they have paid 200 percent dividend.
Simplex Trading has infromed the marlet that they have fixed January 06, 2009 as the Record Date for the purpose Bonus issue , which is to be at the ratio of 4:1.
>Exdon Trading fixes Record Date for Bonus Issue as January 12, 2009 for the purpose of issue of Bonus Shares in the ratio 2:1.
>Texmaco fixes Record Date as Jan 9th 2009 for Stock Split of Equity Shares of Rs 10/- per share of the Company into the shares of Re 1/- each.
| C & C Constructions Ltd has informed the market that the Company has received an order of Rs 781 crores for a Dedicated Freight Corridor from New Karwadiya to New Ganj Khwaja in Bihar. | 
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This is again not just got as a single company this is in join venture with M/s BSCPL Infrastructure Ltd who is equal partner in this contract.So this is kind of second or third contract they are bagging togeather.
>Dow Jones industrial average (INDU) lost almost 200 points or so to be correct its 219 points, or 2.5 Percent.
>Standard & Poor’s 500 (SPX) index down by 19 points, or 2.1 percent.
>Nasdaq composite (COMP) down by 27 points, or 1.7 percent. IT was volatile kind of until the last hour and there was lot of profit booking happening so it just went down in the final hours.
What moved the market
>GE has credit outlook lowered to negative
>Initial jobless claims and continuing claims dip, both essentially in-line with expectations
>FedEx, Nike top quarterly earnings estimates
>Reports indicate General Motors and Chrysler reopened merger talks, but GM denies the claim
>Reports suggest $850 billion stimulus in the making, It was i think atleast 750 billion dollar again over a year or so.
Almost every industries is feeling the heat how bad is to close down the company on a holiday season ,Bosch Ltd has informed the market that in order to adjust production to meet the demand for products and to avoid unnecessary inventory buildup, the Company is closing down temporarily production operations at its Bangalore Plant starting from December 25, 2008 to January 01, 2009.
