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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.
McNally Bharat Engineering Company Ltd has informed the market that they have received 2 orders from Vedanta Group for 1.5 million tones per annum capacity Lead Zinc Beneficiation plant for Rampura Agucha Mines, Bhilwara (Rajasthan) and 1 Aluminium Handling package at Lanjigarh, Orissa.The order is worth 240 crore.
Inflation data came out today and it was surprise to everyone but i was kind of thinking it will come down to like 7 percent as the fuel price cut would come into inflation data .For the week ending December 6 the infaltion stood at 6.84 percent compared to 8 percent week over week.
What got the Inflation down
>Wholesale price Index (WPI) for all commodities down 1.1% (WoW) to 231.1
>WPI for fuel and power index down 3.7% (WoW)
>Manufacturing Index Down 0.3% (WoW)
>Naphtha prices fall 23% (WoW)
>Primary articles down 0.4% (WoW)
>Petrol prices down 10%, diesel down 6% (WoW)
>Furnace oil down 15%, aviation turbine fuel or ATF prices down 7% (WoW)
Thomas Cook investors cheer after it annonced the rights issue price and also the ratio in which the issue will be given to the investors , Rights issue has been priced at Rs 35.50 per equity share of Re 1 each (including Rs 34.50 premium per equity share).The entitlement will be in the ratio of 35:100 .
Record date for Mayur Leather for the purpose of interim dividend announced on 02 January 2009
Record date for State Bank of Mysore for the purpose of stock split on 22 January 2009
Record date for Thomas Cook India for the purpose of rights on 27 December 2008
Patel Engineering Ltd informed the market that it has bagged the single largest irrigation project in India, the Pranahita – Chevella Lift Irrigation – Package 6 of Rs 3,859 crore from the Government of Andhra Pradesh in consortium with BHEL and Navyuga Construction. The Pranahita Lift Irrigation scheme will divert about 160 TMC of water from the river Pranahita to irrigate an area of 12,20,000 acres in the drought prone areas of the Telangana region.Execution of the project is 48 months .
SUN TV Network Ltd informed the market today that it would be producing the movie titled “ENDHIRAN (THE ROBOT)”. This was kind of sudden news to any one , not sure how suddenly everything changed from ainghran to era’s to suddenly Sun Pictures and im surely thinking now some movie by Kamal would be bought by Cloud Nine Pictures.”ENDHIRAN” is India’s biggest project in terms of money,cast and everything.
Directed by Shankar,
Music is by A R Rahman
Aishwarya Rai stars along with Rajinikanth.
Released in Tamil, Telugu, Hindi and other languages .
Gammon Infrastructure Projects Ltd has has informed the market that one of its subsidiary Indira Container Terminal Pvt. Ltd., the special purpose vehicle incorporated for developing the Mumbai Offshore Container Terminal Project (the “Project”) has achieved the ‘Financial Closure’ for the Project with a consortium of bankers for an aggregate amount not exceeding Rs 812.53 crores.The estimated Project cost is Rs 1015 crores. The Project is on BOT basis for 30 years; including a 3 year construction period.
Country Club India informed the market that the company and the board of directors have planned for for Rights Issue of Equity Shares.
Astra Microwave Products Ltd has informed the market that the Company has received an order for Rs 13.80 crores from M/s. Antrix Corporation Ltd for supply, installation and commissioning of remote unmanned automatic weather stations in 500 locations across India.
Satyam computer which was battered like anything yesterday in ADR by almost 55 percent was really surprised by the move and got like battered in Indian market also and finally they called off the acquisition , im not sure if the investors thought that this was very bad deal I’m not sure if there was any study or analysis done by Satyam before proceeding with this agreement.Commenting on this decision, Satyam Chairman, Mr.Raju said,
“We have been surprised by the market reaction to this decision even though we were quite positive about the merits of the acquisition. However, in deference to the views expressed by many investors, we have decided to call off these acquisitions.”
Fed which doesnt want to have the rate to be at 0 said today that it will cut the rate in the range of 0 to .25 percent which is the first time they have come to this range ever .This is like 10th time they are cutting the rate in 15 months.This federal funds rate is overnight lending rate which is used as a benchmark to set rates for a variety of loans, including adjustable rate mortgages, credit cards, home equity lines of credit and business loans. So after this move we can see lot of banks lowering the interest rate for the above said instruments.
Advance Tax info kind of boosted the market today and for everypne it was kind of surprice you can see the numbers below to feel it .
Advance Tax paid by Bluechips
ICICI Bank Paid Rs 470 crore compared to 500 crore previous year.
Reliance Industries Ltd’s paid Rs 440 crore compared to Rs 546 crore previous year
I know this two was kind of less compared to previous.
> State Bank of India paid 1,700 crore rs compared to Rs 1,088 crore previous year.
>HDFC paid 279 crore rs compared to Rs 215 crore in previous year.
When i say previous year its previous year december ending QTR and not the whole year.
IVRCL Infrastructres & Projects informed the market that they have bagged order worth Rs 746.26 crore.
4 Order Project Details is as follows
>Order from AP Cine Workers’ Cooperative Housing Society for construction of group housing projects for Rs 550.28 crore.
>Order is from City & Industrial Development Corp of Maharashtra (CIDCO) for construction of CIDCO Exhibition Centre at Vashi, Navimumbai. The order is worth Rs 114.35 crore.
>Order worth Rs 70.62 crore turnkey project for creation of new habitation at Kalapet site for Tsunami affected victims from Project Implementation Agency of Government of Puducherry
>Order worth Rs 11.01 crore order from West Bengal Electronics Industry Dev Corp (WEBEL) for construction of IT Park, Phase I (Incubation Centre) at Durgapur.
Fact Enterprise Ltd which came out with rights issue has informed the market that they have scrapped the rights issue as the subscription level that they got for the issue was below the prescibed level by SEBI , it has to be 90 percent of the subscription level if it has to proceed further which dint happen and it was only 52 percent or so .They finally decided to scrap the rights issue and they have started to refund the money back to those who applied.
Deccan Chronicle holdings approves on the meetign that took part on december 16th 2008 that they will give 100 percent dividend and also approved buyback of shares upto rs 100 per share aggregating to Rs 180 Crores from equity shareholders other than the Promoters and persons in control of the Company subject to approval of shareholders through postal ballot, SEBI and other regulatory approvals.The record date for the dividend is not yet announced.
Thomas cook which might have seen some income down because of global recession and also terrorist attack in mumbai is trying the best to have the tourism industry running fine and also in the current status of the industry they are trying all means to bump up the revnue , so they have come out with a package called “My India – My Way “ – The holiday packages are to key destinations across the country and are designed with an eye for details towards three star hotels upwards hotel accommodations, transfers, unconventional sightseeing tours and more.
The holiday packages are priced, starting from Rs.2000 per person per night all inclusive. This has helped the stock to gain some points today.
Larsen & Toubro (L&T) informed the market that it has secured projects worth totally 1372 crore.
Project details is as follows.
>Order worth 516 crore from Vedanta Aluminium for setting up of a 3 million tonnes per annum (MTPA) alumina refinery at its Lanjigarh plant in Orissa.The Execution time is 20 months.
>Order worth 455 crore from another aluminium company Utkal Alumina International for setting up of 1.5 MTPA green field alumina refinery at Doraguda near Rayagada in Orissa.The project execution time is 2 years.
>Order valued at 401 crore from Bhushan Steel for civil, structural, equipment erection and piping for its Phase-III expansion at Angul in Orissa.
Much awaited Industrial Production data came in today for the month of october .IIP, number stands at a negative 0.4 percent , which means the growth declined by .4 percent no growth at all. It was 4.8% month-on-month compared to september 2008.It was at 12.22 percent year-on-year in october 2007. I heard that in 10 years this is first time and negative growth has happened only twice now in the indian industrial sector.
Inflation data came today and it was down at 8.0 percent as expected for the week ending November 29 qwhen compared to 8.4 percent week over week.Im expecting this might go down more due to recution in petrol price it may not be significant but atleast it will have some factors built in , we will see the data for coming two weeks and say if it had influenced it .
| Maruti Suzuki India announced the market that it has cut prices of its vehicles between Rs 6,593 and Rs 23,187 across all models.The company like other auto manufacturers is sharing the cut with the customers. |
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‘M800′ will be cheaper by Rs 6,593 to Rs 7,516.
‘Alto’ will be cheaper by Rs 8,028-Rs 9,814.
‘Zen Estilo’ will be cheaper by Rs 11,849 to Rs 12,747.
‘WagonR’ will be cheaper by Rs 11,167-Rs 12,793.
‘DZiRE’ will be cheaper by Rs 14,699 to Rs 21,784 .
‘SX4′ will be cheaper by Rs 19,752 to Rs 23,187 .
‘Gypsy’ will be cheaper by Rs 16,326 to Rs 16,989.
‘Versa’ will be cheaper by Rs 11,605 to Rs 15,193 .
| First to start the rate cuts was Maruti followed by Hyundai now , This is in response to governments cenvat rate cut.Which Auto manufacturers are sharing the saving to the customers.Hyundai today slashed the prices of all its models by up to Rs 44,792. |  |
> ‘Santro’ would be cheaper by Rs 8,834 to Rs 12,492.
> ‘i10′, would be cheaper up to Rs 18,381.
> ‘Getz’ would be cheaper by Rs 13,413-Rs 19,422 .
> ‘Verna’ would be cheaper by Rs Rs 19,625 and Rs 26,174.
> Accent would be cheaper by Rs 15,540.
> ‘Sonata’ would be cheaper by Rs 38,006 to Rs 44,792.
This news will be huge boost to the infrastructure company and this will bring lot of jobs to people and this will help improving the infrastructure of india and in turn it will be revenue for the Infrastructure company.
The government has approved 21 projects in the highways sector envisaging an expenditure of Rs 28,303 crore.The projects, approved during the 19th meeting of the Public Private Partnership Appraisal Committee (PPPAC) on November 21, are located in different states.
Already because they cant hold up the invetory and the sales is kid of down every month, Car company and 2 wheelers is kind of gioving all sort of discounts , now this government decision to cut 4 percent Cenvat might give some relief for the Manufactures they might extend this firther to the customers so iot might lure them and there might happen good sales because of this .Already Maruti has announced today that they are reducing 8000 on its Alto model and 3 to 4 percent across all the other model .This is over the exisiting discounts they are already giving.
First it was rate cut and now they have told they will almost spend 20000 crore in various packages that will help in boosting the industrial and economic growth which are else is slowing down because of global meltdown.These are the following packages they have come out with.
- Plan, non-plan expenditure of Rs.300,000 crore (Rs.3,000 billion/$60 billion) in four months
- Parliament nod to be sought for Rs.20,000 crore more toward plan expenditure
- Across-the-board cut of four percent in the ad valorem central value-added tax
- Interest subvention of two percent on export credit for labour intensive sectors
- Additional allocations for export incentive schemes
- Full refund of service tax paid by exporters to foreign agents
- Incentives for loans on housing for up to Rs.500,000, and up to Rs.2 million
- Limits under the credit guarantee scheme for small enterprises doubled
- Lock-in period for loans to small firms under credit guarantee scheme reduced
- India Infrastructure Finance Company allowed to raise Rs.100 billion through tax-free bonds
- Norms for government departments to replace vehicles relaxed
- Import duty on naphtha for use by the power sector is being reduced to zero
- Export duty on iron ore fines eliminated
- Export duty on lumps for steel industry reduced to five percent
