US market Falls by almost 3 Percent

Fear of Auto task force raises bankruptcy fears for GM and privately held Chrysler and the Comments from Treasury Secretary Geithner indicate $135 billion in bank bailout funds remain, and while some funds will be returned many banks still need help, made the market to bow down in US.

>Dow Jones industrial average (INDU) fell 254 points, or 3.3%.
>S&P 500 (SPX) index lost 28 points, or 3.5%
>Nasdaq composite (COMP) lost 43 points, or 2.8%.

KEC International bags orders worth 207 crores

KEC International which is a Part of RPG group and also a global leader in the power transmission EPC business has informed the market that it has bagged two orders totaling to Rs 207 crore .
Order Info

The first order is for PGCL for Rs 166 crores which needs to be completed in December 2011 and the second order is from CESC for Rs 41 crore which needs to be completed in June 2009 itself.

Inflation at .27 percent

Inflation data came out yesterday it is just .27 percent less to spill to deflation , The annual rate of inflation for week ending 14th march 2009 is at 0.27 percent as compared to 0.44 percent for the sequential previous week. It was at 8.02 percent in the corresponding week of the previous year.

HDFC cuts Lending Rate by 50 basis Points

One of my friend called me that he was happy yesterday that his loan rate was cut by 1/2 percent then i saw the news that Housing Development Finance Corporation (HDFC), infromed the market after the it closed that it has announced a 50 basis points cut in retail prime lending rate (RPLR) to 14% effective today, 25 March 2009 due to reduction in its cost of funds. If im going for a new loan today to HDFC , the effective floating interest rate would be 9.5 percent for a loan of up to Rs 30 lakh, and 10.5 percent for loans above Rs 30 lakh.

How To Book a TATA NANO and Where to get Tata Nano Allotment Status

How to and where to book Tata Nano ? Thats the question everyone even if you want it or dont want it will have in mind , with just an amount of a bike you can start booking a car and start paying the remainign may be in installment which may price of a 2 bike .
Questions Answered
Booking timelines ?
From April 9th to April 25th 2009.
where to make the booking ?
It can be both done Online and Offline.
Offline Center?
TATA has made sure that we can book People’s car from almost all the shops just for fun may be they will include Tea Shops.Booking forms for Tata Nano will be available at over 2800 locations across India at select outlets of Tata Motors dealerships, SBI, Croma, Westside, Titan and Tata Indicom from 9th April 2009.
Go through this link to find out the place near you.
More questions to be updated
What is the booking amount?
The booking amount is as per variant selected:
Nano:Rs. 95,000;
Nano CX: Rs. 1,20.000
Nano LX: Rs. 1,40,000
How and When will the allotments be done? The allotment would be based on the Unique number on the application form and it will be randomly selected based on the Randomizer selector and the allotment would be done within 60 days after the booking week. The results would be announced in the press & online.

Kalpataru Power Transmission bags order worth 399 crore

Kalpataru Power Transmission Ltd (KPTL) has informed the market that thay have bagged order worth 399 crore from Power Grid.The order is from Power Grid Corporation of India (PGICL) for 65 kilovolt (KV) and 400 KV transmission line projects in Bihar, Chhattisgarh and Assam.The execution time for the project is 18 to 24 months.As of now they almost have project worth 5000 crore, if they have money to execute is another chapter where they might need to raise credit line with banks like what BGR energy did yesterday , and the stock spurted today because of that .

Dow up by almost 500 points

All over the world financial market had a very good run and same happened in US also , supported by financial sector .

Dow +497.48 Dow Close 7775.86
Nasdaq +98.50 Nasdaq Close 1555.77
S&P +54.38 S&P Close 822.92

What moved the market

>Treasury unveils plan to form public-private investment funds to buy up to $1 trillion in bad assets from banks, giving financial stocks a large 17% lift
>Existing home sales unexpectedly rise, but remain at depressed levels

BGR Energy Raises Credit Lines for 3850 Crore Rs

BGR Energy Systems Ltd has informed the market that it has signed up credit lines to fund its project that they are exepcting capital requirements for execution of EPC contract for 2 x 600 MW Thermal Power Project at Kalisindh of Rajasthan Rajya Vidyut Utpadan Nigam Ltd (RRVUNL). They have come out with a estimate of Rs 3850 Crores and mandated IDBI Bank Ltd to arrange the financing facilities.

Mutual Fund Dividend Starting from Jan 1 2009

Mutual Fund dividend declared starting from Jan1st 2009 updated here , i was not updating this for a long time now.

Schemes Date Div(Rs)
Birla Sun Life Tax Plan (D) 20/03/09 4.5
Reliance Growth Fund – RP (D) 20/03/09 2
Reliance Vision Fund – RP (D) 20/03/09 2
HDFC Equity Fund (D) 19/03/09 3
Taurus Tax Shield (D) 6/3/2009 1
HDFC Capital Builder Fund (D) 5/3/2009 2
HDFC Tax Saver (D) 5/3/2009 5
HDFC Top 200 Fund (D) 5/3/2009 3
HDFC Growth Fund (D) 26/02/09 2.25
HDFC Long Term Advantage (D) 26/02/09 3.5
Franklin India Prima Plus (D) 25/02/09 2.5
ICICI Pru Dynamic Plan (D) 13/02/09 0.6
ICICI Pru FMCG Fund (D) 13/02/09 1.2
Franklin India Bluechip (D) 21/01/09 3
Benchmark Bank BeES 16/01/09 5
UTI Master Plus US (D) 9/1/2009 2

Advance Tax Payment for March 2009

Advance Tax Payment information was announced yesterday and its not as expected .

> State Bank of India Paid advance tax of Rs 1,810 crore.
> Bank of Baroda paid Rs 280 crore,
> HDFC Bank paid Rs 275 crore,
> Dena Bank paid Rs 75 crore and
> IndusInd Bank paid Rs 26 crore.
> In foruth Qtr Indian Oil Corporation’s (IOC) paid Rs 150 crore,
> Reliance Industries’ at Rs 370 crore
> Larsen and Toubro’s at Rs 245 crore.
> LIC Housing Finance Ltd, paid Rs 245 crore.

Confidence Petroleum India bags order worth 47.02 crore

Confidence Petroleum India Ltd has informed the market that they have bagged 3 orders TWO from IOCL and ONE from Hindustan Petroleum Corporational.
Order Details
1.Two order for M/s. Hindustan Petroleum Corporation Ltd (Rs 37.70 Crores] & M/s. Indian Oil Corporation [Rs 5.19 Crores] for supply of LPG Cylinders. The contract is to be executed on or before March 31, 2010.
2.Contract for Design, Supply, Erection, Testing, Commissioning & Maintenance of 9 [Nine] Auto LPG Dispensing Stations in the States of West Bengal, Andhra Pradesh, Uttar Pradesh, Maharashtra & Jharkhand, to the Project & Engineering Department for IOCL. The total value of the contract is Rs 4.13 crores.

Everonn Systems bags order from M S Ramaiah Medical College and Teaching Hospital

Everonn Systems India Ltd has informed the market that they have bagged and have received Letter of Intent (LOI) from M S Ramaiah Medical College and Teaching Hospital, Bangalore. As per the order Everonn Systems would be installing a studio to facilitate the process of e-learning and for networking their CME programmes to their group of 7 Colleges.

Wipro Infotech bags order from Employees State Insurance Corporation

Wipro Infotech, the India and Middle East IT Business of Wipro, has informed the market that they have bagged the largest IT outsourcing contract from the Employees State Insurance Corporation (ESIC). ESIC is a statutory corporation, under the Ministry of Labour & Employment, Government of India, and is the implementing agency of social security scheme in India.

Nagarjuna Construction bags order worth Rs 263 crore

Nagurjuna Construction has informed the market that it has secured three new orders aggregating to Rs 263 crore from three different clients.
Order info

>First order valued at Rs 119 crore is from Maharashtra State Electricity Distribution Company, Mumbai for turnkey contract for infrastructure plan phase II project works.
>Second order valued at Rs 83 crore is from Coimbatore Corporation, Coimbatore for water works in the city. >Third order is valued at Rs 61 crore is from the Institute of Charted Financial Analysts of India (ICFAI) for construction of academic block and related works at Tripura.

BHEL Bags order worth 81 crore from Adani Power

BHEL has informed the market yesterday that it has bagged an order worth Rs 81 crore from Powegen Infrastructure for supplying generator transformers for the 1980-megawatt (MW) Tirora thermal power project of Adani Power Maharashtra (APML) at Tirora in Gondia district of Maharashtra. The equipment will be manufactured at Bharat Heavy Electricals (Bhel)’s Bhopal plant. The Execution time for this project is from December 2010 to December 2011.

Inflation Below RBI Projection of 3.0 – Inflation at 2.43 Percent

Inflation data was released yesterday and the Wholesale price index fall .60 percent for the week ended 28 February 2009 compared with a week ago. The annual rate of inflation is at 2.43 percent for the week ended 28 February 2009 compared to 3.03 percent for the previous week and 6.21% during the corresponding week of the previous year.RBI had projected that the inflation will be at 3.0 percent by end of march but it has eased to this level before even a month .