IFCI Tax Exemption Long Term Infrastructure Bonds Issuer IFCI Limited Offering 1,00,000 Unsecured, Redeemable, Non-Convertible, Taxable Bonds of Rs. 5,000/- each aggregating to Rs. 50 Crore with a green-shoe option to retain over-subscription for issuance of additional Infrastructure Bonds Type Private Placement basis Instrument Unsecured, Redeemable, Non-Convertible, Taxable Bonds having benefits under section 80 CCF of the Income Tax, 1961 for long term Infrastructure Bonds Rating BWR AA- by BRICKWORK RATINGS INDIA PVT LIMITED Eligible Investors Resident Indian Individual (Major) and HUF through Karta of the HUF Security Unsecured Face Value Rs. 5,000/- per bond Issue Price At par (Rs. 5,000/- per bond) Minimum Subscription 1 Bond and in multiples of 1 Bond thereafter, Tenure 10 years, with or without buyback option after five years Options for Subscription
The Bonds are proposed to provide the following options-
• Option I – Non-cumulative and Buyback after 5 years
• Option II – Cumulative and Buyback after 5 years
• Option III – Non-cumulative and no Buyback
• Option IV – Cumulative and no Buyback Redemption / Maturity
At par at the end of 10th year from the deemed date of allotment. For Cumulative Option, at par with cumulated interest thereon. Coupon rate
• Option I & II- 7.85% p.a.
• Option III & IV – 7.95% p.a.
In case of cumulative bonds, interest shall be compounded annually Listing Proposed to be listed on BSE Trustee Axis Trustee Services Limited Depository National Securities Depository Ltd. and Central Depository Services (India) Ltd. Registrars Beetal Financial & Computer Services (P) Ltd. Mode of Payment
Interest payment will be made through ECS/At Par Cheques/Demand Drafts Issuance Demat form only Trading Demat mode only Issue Open Date August 9, 2010 Issue Close Date August 31, 2010
• The issuer would have an option to pre-close the issue by giving 1 day notice to the Arrangers Deemed Date of Allotment September 15, 2010 Application form can be downloaded here.
Essar is in talk with various banks to see the option of going for a Intial Public offering of its Vodafone Essar Stake .Earlier In 2007, Vodafone entered india by buying into a controlling stake in Hutchison Whampoa Ltd’s mobile business in India, in which Essar had been a partner.
This particular deal gave Essar the option to sell its entire 33 percent stake in the telecom venture to Vodafone for $5 billion between the third and fourth years after the deal’s completion.Alternatively, Essar could sell shares worth between $1 billion and $5 billion in the company to Vodafone at an independent valuation.The option for the sale opened in May and runs for 12 months.None of Essar or Vodafone is commenting on this so this might be just another rumor news or this might be real also.Vodafone has yet to decide on its response and is waiting for Essar to make a proposal.
So finally government has decided that it will go with any of the 5 new symbol that they have short listed from the contest , whichever symbol wins they will get a prize money of 2.5 lac rupee.Like US $ or Pound £ or Euro E i mean sorry cant find the character , As indian RE RS is something that is getting used by all the surrounding country , they wanted a new symbol and that will used after approval from tomorrow.“In the ensuing year, we intend to formalise a symbol for the Indian rupee, which reflects and captures the Indian ethos and culture,” Finance Minister Pranab Mukherjee announced in his Budget speech in Parliament
India’s industrial production data came out yesterday the data was good was below the December 2009 highest but above the economist prediction of 13 %. Help from the manufacturing output, the Industrial Production increased 17.6 Percent in April 2010.
Growth of 55.6 Percent in Machinery and Equipment
Growth of 51.9 Percent in ‘Metal Products and Parts, except Machinery and Equipment’ and
Growth of 41.4 Percent in ‘Other Manufacturing Industries ‘
Negative growth of 16.6 Percent in Wood and Wood Products; Furniture and Fixtures’
Growth of 2.7 Percent in ‘Beverages, Tobacco and Related Products’.
Growth of 8.8 Percent in Basic goods,
Growth of 72.8 Percent in Capital goods and
Growth of 10.8 Percent in Intermediate goods.
Growth of 14.5 Percent in Consumer goods .
Mahindra Satyam has informed the market that Mahindra Satyam is in the race for Unique Identity Project , and its thr among the firms shortlisted for unique identity project.Dilip Jha, its Head of Operations for India, West Asia and Africa told that it has been short listed and they are likely to focus on police and urbanisation projects in India also .
Supporters gave her the garland to celebrate 25 years of the Bahujan Samaj Party (BSP).The controversial politician – India’s first woman Dalit (formerly “untouchable”) chief minister – champions the cause of the poorest of the poor, and has a huge following among those at the bottom of the Hindu caste system. But she is often criticised for having amassed vast personal wealth.Outrage from opposition parties led to the adjournment of the national parliament in New Delhi on Tuesday.The controversy gives further ammunition to the Congress party-led federal coalition in New Delhi, which is aggressively campaigning to win over the key state of Uttar Pradesh in 2012.
Daylight Saving Time begins today , On Sunday, March 14, 2010 at 2 a.m., Daylight Saving Time begins in the United States.The phrase “Spring forward, Fall back” is best and it will help people understand that during spring the keep the clock one hour ahead and in fall they keep the clock 1 hour back to set it in standard time. Use of Day light Saving
The change to Daylight Saving Time allows us to use less energy in lighting our homes by taking advantage of the longer and later daylight hours. During the eight-month period of Daylight Saving Time, the names of time in each of the time zones in the U.S. (map) change as well. Eastern Standard Time (EST) becomes Eastern Daylight Time, Central Standard Time (CST) becomes Central Daylight Time (CDT), Mountain Standard Time (MST) becomes Mountain Daylight Time (MDT), Pacific Standard Time becomes Pacific Daylight Time (PDT), and so forth.
In 2011 Daylight saving will set into on 2 a.m. March 13 and Fall back on 2 a.m. Nov. 6
For those who are working for US company in india its jolly time you will have all the meeting set 1 hr before so you can go home sooner.
New Secretariat Building Chennai is going to be inaugurated today , the first thing that will come to mind in all chennites mind is traffic diversion , traffic and normal police have already started to bombard the whole city of chennai , I went by the side of the secretariat and the work was still going on previous week or so and they have the inaguration today , i heard they have sepnt almost 2 crore or so as set to complete the building as it was not fully completed . Old Secretariat New Secretariat Traffic Diversion
The suburban police have announced few traffic regulations ahead of Prime Minister Manmohan Singh’s visit to the city on Saturday.All heavy vehicles coming from southern districts and passing through GST Road and proceeding towards Koyambedu should take the Irumbliyur bridge and Tambaram by-pass road.
Heavy vehicles and private buses from Tambaram should go to the Tambaram-Mudichur junction and proceed to Velachery Main Road.Heavy vehicles from Bangalore highway proceeding to Koyambedu should go via Maduravoyal Saveetha Dental College junction. Vehicles from Poonamallee Road should go via Kumamanchavadi-Mount junction and Maduravoyal bypass road.
The route to be taken by the Prime Minister’s convoy to and from the Secretariat will be closed. Motorists have been asked to start early to avoid inconvenience.
IIP data has come out today and surprisinglly the Industrial production is up by a massive 16.7 % in jan 2010 compared to aropund just 1 % in Jan 2009.
>Manufacturing is the main factor for the growth it has come up by 17.9 per cent during Jan 2010 compared to just 1 % in Jan 2009 Manufacturing ,
>Capital goods is up by 56.2 % against 15.9 %.
>Consumer durables segment zoomed 31.6 per cent against 2.1 per cent.
>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.
By 2025, Audi would have done better business in India than in Japan-20000 units per year. A boardmember revealed that the company is fully aware of the growing potential in the Indian market. As a result, there will be more investment and expansion to boost the sale of Audi in India. However the company could [...]
The passenger car segment will hereinafter find the presence of Renault in India, according to its VP. The economic downfall in 2008 made the company to withdraw from the scene with little effort at the Chennai plant. Now the strategy is to make a gradual process. Thenext three years will seethe revamp of Renault by [...]
Harley-Davidson India announced it will bring 12 motorcycles from its 2010 model portfolio to India. The broad selection, with bikes from each of its five model families, will give riders in India maximum choice and opportunity to join millions of Harley-Davidson owners worldwide in pursuit of adventure, freedom and self-expression.
“For over a century, Harley-Davidson has [...]
Volkswagen, a pioneer for traditional quality has launched an awe-inspiring new popular Volkswagen Polo with three variants.
Polo TrendLine
Polo ComfortLine
Polo HighLine
Polo with 1.2 lit petrol engine is powered with 75 bhp @5400 rpm and provides the torque of 110nm @ 3750 rpm. Polo with 1.2 lit diesel engine is also powered with 75 bhp @ 4200 [...]
This is to inform that from January 4th 2009 ,Both NSE and BSE have decided to have the market start opening from 9.00 AM in the morning and have it run until 3.30 PM , this is giving almost 1 hour extra time , this is good news , i always wanted the market to open at 9.00 which will kind of make you busy from 8.30 itself , rather than the normal 9.30 getting rady for the 10.00 clock market , all the TV channels have to change there program timing to adjust to this new change in Market timing , Atleast this New Year 2010 will bring some of the lazy from bed sooner than before who are market watchers.
There is a news release from Bseindia that From December 18th 2009 , which is coming friday , the market will open at 9:45 a.m. and close at 3:30 p.m. This was changed from original timing of 9:55 a.m. to 3:30 p.m.It just the market has been given extra 10 minutes.
Reliance MediaWorks Ltd has informed the market that after getting approval from the Registrar of Companies, Maharashtra, Mumbai,which was applied on october 5th 2009 , finally they changed the company name Adlabs Films LTD to “Reliance MediaWorks Ltd”.
Larsen & Toubro’s (L&T) informed the market that the Infrastructure Operating Company which is a part of its Construction Division (ECC), has won a order ,which is considered one of the largest construction orders in India’s Nuclear Power sector by , the order is valued at Rs. 844 crore from , the order is for construction of the Main Plant Civil works of Reactor 3&4 at Kakrapar Atomic Power Project, Tapi (Gujarat).
Not sure what changed from yesetrday to today , it was down by 493 points yesterday and up by 507 points today , if you sum it up its like no loss no gain.Global markets recovered today and also comments by Finance Minister Pranab Mukherjee on Tuesday, 3 November 2009, that there are no immediate plans to place curbs on capital inflows.Stock that brought down the index yesterday are all up in green .
State Bank of India has informed the market that they have decided on the Stock Swap ratio for SBI takeover of State bank of Indore . For every 100 shares held in its smallest subsidiary State Bank of Indore , the shareholder will get 34 shares of the SBI.This was after they decide on October 31st that SBI will acquire State Bank of Indore on stock Swap Ratio.
Sensex closed today in deep red down by almost 491 points , BSE 30-share Sensex provisionally lost 558.98 points or 3.52 percent, off 619.76 points from the day’s high and up just 6.74 points from the day’s low.Sensex which was too much volatile opened flat and went down by 100 points and was trying to recover but by noon it started to fall down and closed in deep red.
Mainly Reliance Industries (RIL) slumped over 6% on reports the Comptroller and Auditor General (CAG) has set up a team to examine the expenses Reliance Industries (RIL) incurred on its D6 natural gas field in the Krishna-Godavari (KG) basin in the Bay of Bengal.Global market was down and it added oil to the market and went down heavily. Top losers Index wide
YSR’s chopper traced at about 74 km or 40 nauticle miles from Kurnool.Just got thios info over the TV ,thats a good sign , but they are telling they cant decide if its a crash land or normal landing .It was on top of a hill. Updated at 9.41 am :
> They have confirmed that the chopper has crashed.
> The chance for survivors is very less (Source:PMO) Latest update as of 10.57 am
>Y.S.Rajasekhara Reddy and four others feared dead
>Pilot has used lifeboy soap to rolled down the paper of
the gps coordinate where the ceash landing has happened.
Sensex started the day red playing the same games as the US market and it was proceeding ok and after noon the Market saw some recovery and after european market recovered the sensex turned to green , The sharp slide in the market which started at around 2.30 or so was triggered by the reports that came out in television that the monsoon rains were almost 60 percent lower than normal when measured until 5th August 2009. This will kind of put a big question mark on the economic growth and it might have the government spend more.Finally sensex dropped today by 390 points to close at 15514 , down by almost 2.45 percent .
McNally Bharat Engineering Company Ltd has informed the market that they have received order worth 165 crore from Tata Project for commissioning of stock house package for its Rourkela steel plant. Execution time for the project is 20 months.
Subscribe to Rupya
