How to get Import Export Code for Putting it in Paypal India

As you saw my previous post about Paypal asking for Exporter code if you want to use Paypal for transaction or remittance of money in india.Was about to research how to get the Exporter Code and kind of psot the same here, my friend Amit from Labnol has already done it and rather than me doing it i will give some info from there.
The Importer Exporter Code, or IEC in short, is normally required by manufacturers and companies for international trade but with this new RBI ruling, the hundreds and thousands of freelancers, programmers, web designers and small companies who depend on PayPal for foreign payment will also have to apply for an IE code.
>Application to get IEC code can be downloaded from here.
>Director General of Foreign Trade Website :

Source:Info was sourced from this site

United Bank of India IPO Allotment – Will be Lottery Based

United Bank of India IPO which was open from Feb 23rd 2010 to Feb 25th 2010 was fully Subscribed by 33.38 times.They have received bids for 1,66,88,50,900 shares as against issue size of 5,00,00,000 shares.
Over subscription Details

>Qualified Institutional Buyers (QIBs) 47.0824
>Non Institutional Investors 39.1525
>Retail Individual Investors (RIIs) 9.8038
>Employee Reservation 0.5301

United Bank of India IPO Allotment Status Can be Found Here.

Paypal Finally Approves Local Bank Withdrawal to India

PayPal sent a email to everyone saying that they have approved local bank withdrawal to India but not for everyone but only for those who have a export code.They have told that RBI has allowed them to continue local bank withdrawals for settlements for exports of goods and services.
They will make changes to comply with Indian regulations for settlements for exports of goods and services, and they anticipate that, as of Wednesday,March 3rd, customers will be able to use our bank withdrawal service.Personal remittances to India is still banned by RBI through PayPal and they have allowed to use the service , however if you are an exporter, you will continue to be able to use the PayPal service for payments of goods and service, they have to use the Export Code and in fact able to get the export related benefits you seek.
Read more from here.

ARSS Infrastructure IPO Listing on Wednesday March 03 2010

ARSS Infrastructure informed BSE and in turn BSE gave permission for the stocks to list on Wednesday, March 03, 2010 under BSE Script Code: 533163., Final issue price was fixed at 450/- per share.The IPO was oversubscribed by 47.62 times and almost 18.5487 times on the retail side.
Listing Detail

Listing Date: Wednesday, March 03, 2010
BSE Script Code: 533163

Gold Price might go high – Response to increase in Import Duty

Gold Price which has already seen its heights for some time now would reach new heights, As we all know that government has proposed a 50 per cent hike in custom duty on precious metals, including gold and silver. Which is like increase from Rs 200 to Rs 300 per gramme on gold almost 100 rs per 10 grams increase and On silver its from the current Rs 1,000 to Rs 1,500 per kilo. This for sure has to be sent directly to the retailers , so in a week or so we can see the price going up by 10 to 20 rs per gram.
Precious Metals – Budget 2010 Impacts

>On gold and platinum from Rs.200 per 10 grams to Rs.300 per 10 grams
>On silver from Rs.1,000 per kg to Rs.1,500 per kg.
> Basic customs on Rhodium – a precious metal used for polishing jewellery reduced to 2 per cent.
> Basic customs duty on gold ore and concentrates reduced from 2 per cent ad valorem
to a specific duty of Rs.140 per 10 grams of gold content with full exemption from
special additional duty. Further, the excise duty on refined gold made from such
ore or concentrate reduced from 8 per cent to a specific duty of Rs.280 per 10

Vinnaithaandi Varuvaaya Climax – Movie Review

Why i had the post as Vinnaithaandi Varuvaaya Climax , thats the only thing that might get finally talked about a lot , The movie all started fine and it went very good and you will feel like you are in a romance world with A.R.Rahman coming with you along as songs and both Trisha and Simbhu is the only person you will be seeing on the screen .But after interval may be 15 to 30 minutes thats all , the movie should have ended there and not continue more than that .Almost twice in the film gautham would have made the pair to talk about the whole story again , Man finally thought everything was over he puts a twist at the climax.
Final Verdict

> Songs all very good , Singers have god’s own voices (A.R.Rahman is GOD)
> BGM some places too heavy and some places touchy
> Choreography could have been better
> Simbhu has really matured a lot
> Trisha , Her smile is just enough for the whole movie , not sure if anyone else would be perfect for the movie .
> Photography is superb
> Gautham Menon you are taking love story and whenever you take love story after Minnale , you mis it with some thing else and then movie ends good , b ut sorry this time you just mixed with more and more LOVE or so called LOVE which dint really mix well at the end.
>For sure it can be watched once.

Image Source:Areapal

Infrastructure Bond – India Infrastructure Bond

After Budget 2010 , Infrastructure Bond is somethign that will get more popular , as Mr Pranab Mukerji has allowed extra Twenty thousand in Infrastructure Bond , as additional investment over and above Rs 1 lakh in 80C.
What are Infrastrucure Bonds ?

Infrastructure bonds are available through issues of ICICI Bank and IDBI, brought out in the name of ICICI Safety Bonds and IDBI Flexibonds. These provide tax-saving benefits under Section 88 of the Income Tax Act, 1961, up to an investment of Rs.1,00,000, subject to the bonds being held for a minimum period of three years from the date of allotment.

India Budget 2010 Highlights

Income Tax Slab Revised

>No tax for income upto 1.6 lakh.
>For income between 1.6 lakh – 5 lakh tax liability 10%. (old slab was Rs 1.6 to 3 lakh)
>For income between 5 lakh – 8 lakh 20%. (old slab was Rs 3-5 lakh)
>For income above 8 lakh 30% (old slab was Rs 5 lakh +)
>Additional investment of 20K in infra bonds over and above Rs 1 lakh in 80C.

More Updates – Source Hindu— Increase in duty on gold and silver import – Not Good for Gold and jewel stocks.
— Clean energy cess of Rs 50 per ton to be levied on coal produced in India
— 10 per cent central excise duty on all non-petroleum products
— Structural changes in excise duties on cigarettes, cigars and cigarillos – Not good for ITC
— Revenue loss of Rs 26,000 crore on direct tax proposals.
— 7.5 per cent duty on petrol, diesel, crude restored.
— Exempt duty raised for all non-smoking tobacco producs
— Investment linked tax deductions to be allowed to two—star hotels anywhere in the country.
— Fiscal deficit seen at 4.8 per cent and 4.1 per cent in 2011—12 and 2012—13 respectively.
— Surcharge on companies reduced to 7.5 per cent
— Additional exemption of Rs 20,000 for long tem investment in infra bonds
— National Social Security Fund created for workers in unorganised sector with allocation of Rs.1,000 crore
— Government to give Rs.1,000 for each National Pension Scheme account opened by workers in the unorganised sector
— Exclusive skill development programme for the textile sector
— Fifty percent hike in allocation for schemes for women and child development
— Rs.4,500 crore allocated for ministry of social justice and empowerment, a hike of 80 percent
— Rs.2,600 crore allocated for ministry of minorities affairs
— Rs.1,900 crore for Unique Identification Authority of India
— Rs.147,344 crore allocated for defence
— 2,000 youth to be recruited in central paramilitary forces
— Draft Food Security Bill prepared and will be put in the public domain
— Allocation on primary education raised from Rs.26,800 crore to Rs.31,300 crore
— Banking facilities to be provided to all habitations with a population of 2,000 and more
— Rs.66,100 crore allocated for rural development in 2010—11; Rs.40,100 crore for National Rural Employment Scheme; RS.48,000 crore for Bharat Nirman
— Rs.1,270 crore allocated for Rajiv Awas Yojna for slum dwellers, up from Rs.150 crore, an increase of 700 percent with the aim of creating a slum free India.
— Forty—six percent of plan allocations in 2010—11 will be for infrastructure development
— Coal Regulatory Authority to be set up to benchmark standards of performance
— Allocation for new and renewable energy sector increased 61 percent from Rs.620 crore to Rs.1,000 crore in 2010—11
— National Clean Energy Fund to be established
— Rs.200 crore allocated as special package for Goa to prevent erosion and increase green cover.
— Government committed to growth of SEZs.
— Four—pronged strategy for growth of agricultural sector.
— Rs.200 crore to be provided in 2010—11 for climate—resilient agricultural initiative.
— Involvement of private sector in grain storage to continue for another two years.
— In view of drought and floods, debt repayment period extended to June 2010.
— Five more mega food processing projects in addition to 10 existing ones.
— FDI flows in April—December 2009 $20.9 billion.
— FDI policy to be made more user—friendly with one comprehensive document.
— Apex level financial stability council to be set up for banking sector.
— Indian Banking Association to give additional licences to private players.
— Provision for further capital for regional rural banks.
— Roadmap for reducing public debt in six months.
— Implementation of direct tax code from April 2011.
— Government actively engaged in finalising structure of general sales tax regime; hopes to implement it from April 2011.
— Rs.35,000 crore raised from divestment in 2009—10; will be higher in 2010—11.
— New fertiliser policy from April 2010; will lead to improved productively and more income for farmers.
— Economy stabilised in first quarter of 2009—10; strong rebound in second quarter; overall growth at 7.2 and could be higher when Q3 and Q4 are taken into account.
— Export figures for January encouraging.
— Hope to breach 10 percent growth mark in not too distant future.
— Government set in motion steps to bring down food inflation.
— Need to review stimulus package; need to make growth more broad—based.
— India has weathered global economic crisis well; Indian economy in far better position than it was a year ago. In 2009 Indian economy faced grave uncertainty; delay in southwest monsoon had undermined agricultural production.
— First challenge now is to quickly revert to 9 percent growth and then aim for double digit growth; need to make recovery more broadbased.
— Second challenge is to make growth more inclusive; have to strengthen food security.
— Third challenge is to overcome weakness in government’s public delivery mechanism; a long way to go in this.

Cadila Healthcare Bonus Issue

Cadila Healthcare Ltd (CHL) has informed the market yesterday that the company in the meeting that was held yesterday said that it has come out with a decision to offer Bonus Equity Shares in the ratio of 1 (One) Equity Share of Rs. 5/- each fully paid-up for every 2 (Two) Equity Shares of Rs. 5/- each held by the shareholders of the Company on the re4cord date which will be announced later in this website.

SEL Textiles Ltd IPO – Files for DRHP with SEBI

SEL Manufacturing Company Ltd has informed the market that the subsidiary of the company SEL Textiles Ltd has filed a Draft Red Herring Prospectus with the Securities and Exchange Board of India.They are coming out with this IPO to finance the cost of Setting up a new facility for manufacturing of Terry Towels with an installed capacity of 3600 TPA out of the net proceeds of the issue.

Indian Government announces 3G Auction Dates

Long awaited 3G Auction dates has been announced
The Government has announced the Schedule of 3 G Auction. The auction process for 3G will follow the schedule given below:

>Notice inviting applications – 25th February, 2010
>Last date of submission of application – 19th March, 2010
>Publication of ownership details of applicants – 26th March, 2010
>Pre-qualification of bidders – 30th March, 2010
>Mock auctions – 5th and 6th April, 2010
>Start of 3G auctions – 9th April, 2010
>Start of BWA auctions of 3G auctions – Two days after the close

KRBL benefits from Railway Budget 2010

KRBL is the company which saw limelight after Railway Budget 2010 , Mamata Bannerji the honorable railway minister announced that Freight on food grain, kerosene is cut by Rs 100/wagon , KRBL which is in the business of RICE production and Export , said that 90% cargo is loaded via trains and the company because of the cut in 100 rs /Wagon will save them almost 1.5 crore.

Railway Budget 2010-2011 Highlights

Railway Budget 2010-2011 Highlights

>No hike in freight and passenger fare.
>New Janmabhoomi train between Ahmedabad and Udhampur
>Concession for children of accredited journalists up to 18 years.
>Free journey for cancer patients in sleeper and 3AC; 75 p.c. concession for companion
>Concession of Rs 100 on freight rates of food grains for domestic use, kerosene, fertlizer
>Survey will be conducted to connect Sealdah and Howrah stations in West Bengal
>Karmaboomi train for working class
>Bharatt threeth train to commomorate Rabindranath Tagore’s birth 150th anniversary.
>Matribhumi special trains for women
>Andaman and Nicobar Islands to get railway line from Port Blair to Diglipur
>Velachery-St.Thomas Mount MRTS link by 2012
>New suburban trains for Chennai
>Stations to be named after Bhagat Singh, Mother Teresa, Tipu Sultan, Bahadur Shah Zafar
>RPF to have women battalion
>Railways to have master plan for North Eastern region
>Insurance facilities for licensed porters as part of railway’s corporate social responsibility
>Kashmir role link to be extended to Sopore
>Rs 1,302 crore provided for passenger amenities
>Freight loading target for 2010—11 fixed at 944 million tonnes
>Several new lines announced.
>New train service to Dhaka, Bangladesh from Agartala.
>Gross traffic receipt for 2010—11 pegged at Rs 94,765 crore
>High—speed dedicated passenger corridors to be constructed
>Revenue from non—core business of Railways to go up from Rs 150 crore to Rs 1,000 crore
>Wagon Repair Shop to be set up in Badnera near Amravati in Maharashtra
>Railways saved Rs 2,000 cr from austerity drive
>10 more Duranto trains announced
>Service charge on AC fares cut to Rs 20
>101 new suburban trains for Mumbai
>Dedicated corridors will be implemented on time
>Land acquisition: One member from the family would be given employment in Railways
>Railways earned net profit of Rs. 1348 crores.
>Railways will be the lead partner in the Commonwealth Games in Delhi
>Railways to set up Rabindra Museum in Howrah and Geetanjali Museum in Bolpur — both in West Bengal — to commemorate Rabindranath Tagore’s 125th birth anniversary
>New testing facility in Bangalore
>Railways proposes modernisation of ICF, Chennai.
>New housing scheme for 14 lakh employees
>Railways to start six water bottling plants in places like Ambala, Thiruvananthapuram, Farakka, Amethi and Nasik to provide clean and cheap drinking water to passengers.
>Special task force for clearing investment proposals in 100 days
>New business model to be created
>Unmanned railway crossing will be phased out in five years
>Five sports academies to be set-up, including Delhi, Chennai, Secunderabad
>E-tickets to be made available at panchayat level
>Railways recruitment: Exams to be conducted in regional languages
>Railways recruitment: Simultaneous exams proposed
>Modern toilets to be introduced in stations
>No privatisation of Railways
>Six bottling plants for Rail Neer
>Fee waiver for economically weak
>Special drive for improving passenger amentities
>Railways target 1,000 km of new line in one year
>117 new trains flagged-off in the last financial year
>Special task force will be set up for early clearance of projects
>Mamata appeals to business houses to join hands for building partnership with Railways
>Our focus is inclusive growth: Mamata
>Mamata presents Railway budget in Lok Sabha

Source : hindu

Emmbi Polyarns Drop like Bomb – Down by 20 rs

Emmbi polyarn which ahd very good support at 45 to 46 rose to 48 or so with very good buying and i also made some profit in hat up swing , now when i saw the rate i was thinking i missed a very good oppurtunity , it dropped like bomb to 30 rs or so from 48 in just a hour or so , think there was heavy selling .At 12.00 clock Buyers was 5,91,193 and total selleres was 6,15,766 .

Volkswagen Polo Launched today starting price at 4.43 Lakh

Volkswagen Polo which had a very good response in the Delhi introduction was released for public with pricing today and the starting rate is 4.43 lakh, this will be the first small car for india and its good they have priced it reasonably .Tehy will be having petrol version and also diesel version , But Petrol version will be available from March 2010 itself.

Model and Price
1200cc Petrol (all prices in ex-showroom, Delhi)

>Trendline: Rs 4.34 lakh
>Comfortline: Rs 4.83 lakh
>Highline: Rs 5.72 lakh

1200cc Diesel (all prices ex-showroom, Delhi)

>Trendline: Rs 5.32 lakh
>Comfortline: Rs 5.81 lakh
>Highline: Rs 6.70 lakh

Features and Different Models.

>Trendline – Front power windows, power steering AC, body colored bumpers, central locking standard, 14 inch steel wheels
>Comfortline – Height adjustable driver seat, 60/40 split rear seat, all power windows, 14 inch steel wheels
>Highline – ABS, dual airbags, keyless entry, 15 inch alloys, MP3 player, front fog lamps, rear defogger.

McNally Bharat Engineering bags order worth 6.63 crore

McNally Bharat Engineering Company Ltd has informed the market that it has bagged order for for Design, Engineering, Supply of Equipment, Civil Work, Structural work, Erection & Commissioning etc for construction for Border Out Post which will be running from the Indo-Bangladesh Border in the State of Tripura for National Projects Construction Corporation Ltd.The value of the project is Rs. 6.63 crores,I has to be completed by May 17th 2011.