First Blog for Indian Financial Market

ONGC and CPCL inform the market that OSO Officers are going on Strike

admin — Wed, 07 Jan 2009 04:00:28 +0000

Oil & Natural Gas Corporation Ltd (ONGC) and chennai Petroleum Corporation (CPCL) has informed the market that even after the restraining orders from the court the Oil Sector Officers’ Association, including Officers of Oil And Natural Gas Corporation Ltd under the aegis of Association of Scientific & Technical Officers (ASTO) have given a call to proceed on strike effective 0600 hours on January 07, 2009.

Post from: First Blog for Indian Financial Market

ONGC and CPCL inform the market that OSO Officers are going on Strike

Punj Lloyd bags order worth 264 crore

admin — Wed, 07 Jan 2009 03:57:16 +0000

Punj Lloyd Ltd has informed the market Monday that the Company has secured a contract for civil works for approximately Rs 264 Crores from Airports Authority of India in connection with construction of new airport at Pakyong, Sikkim.

Post from: First Blog for Indian Financial Market

Punj Lloyd bags order worth 264 crore

Larsen Toubro bags order worth 1100 crore

admin — Wed, 07 Jan 2009 03:53:57 +0000

L&T’s Buildings & Factories Operating Company which is a part of Larsen Toubro’s Construction Division has infromed the market that they have bagged order worth 1100 crore , This project was bagged during the third qtr of 2008-2009.

Post from: First Blog for Indian Financial Market

Larsen Toubro bags order worth 1100 crore

Maytas Infra wins order worth 110 crore from Southern Railways

admin — Wed, 07 Jan 2009 03:44:20 +0000

Maytas Infra which is in the kind of huge confusions informed the market yesterday that they have secured project from Southern Railway for Rs 110 Crores for doubling the Broad Gauge (BG) track between Chengalpattu and Villupuram. this is a join venture project between CT Ramanathan (CTR) and Maytas Infra.This project will be executed in 18 months.

Post from: First Blog for Indian Financial Market

Maytas Infra wins order worth 110 crore from Southern Railways

Ahluwalia Contract bags order worth 394 crore.

admin — Mon, 05 Jan 2009 16:52:28 +0000

Ahluwalia Contracts has informed the market that they have bagged orders worth Rs 394.01 crore .
The order details is as follows.
Order Details
> Construction of “Dwarka Depot” including civil, building services and architectural work at Delhi by Delhi Airport Metro Express Pvt Ltd for Rs 72.84 crore.
> Construction of general building, finishing and miscellaneous works for ” Tata Medical Centre” at Kolkata by Tata Medical Trust for Rs 50 crore.
> Construction of ” DN Nagar Depot” at Mumbai by Mumbai Metro One Pvt Ltd for Rs 184.09 crore.
> Retail Development in Arena Town Centre at Uppal, Hyderabad by Topnotch Projects Pvt Ltd for Rs 87.08 crore.
As of December 2008 the total order detail is 4150 crore and all having a time frame of 2 years or so.

Post from: First Blog for Indian Financial Market

Ahluwalia Contract bags order worth 394 crore.

IVRCL Infrastructure bags order worth 260 crore

admin — Mon, 05 Jan 2009 16:48:30 +0000

IVRCL Infrastructures & Projects Ltd has informed the market today that the Buildings & Industrial Structures (B & IS) and Water Divisions of the Company have bagged the orders of the value of Rs 260.46 Crores.
Order Details is as follows
>The company has received an order for construction of 4 elevated Metro Stations for Bangalore Metro Rail Project.The Execution time for the project is is 22 months. The contract value is Rs 168.28 Crores.
>The company has received another order for MS quality upgradation project at Guwahati Refinery, Guwahati, awarded by Indian Oil Corporation Ltd, New Delhi. The Execution time for the project is is 15 months.The contract value is Rs 38.32 Crores.
>The Water Division of the company has received an order for construction of Head Works near Almatti Dam, The Execution time for the project is is 20 months. The contract value is Rs 53.86 Crores.

Post from: First Blog for Indian Financial Market

IVRCL Infrastructure bags order worth 260 crore

Second Stimulas Package for India Inc - IIFCL to raise 30,000 crore

admin — Sat, 03 Jan 2009 05:14:04 +0000

It was one month before that the government approved that IIFCL can borrow up to 10000 crore in Tax free bonds which will be lend to infrastructure projects that are public and private partnership , As these projects are having high time getting long term loan from banks , Because Banks are also in need of money IIFCL might recapitalise banks through this .So they did not even fully get the 10000 crore now Indian Government has approved for the second stimulus package that India Infrastructure Finance Company Ltd (IIFCL) to raise Rs 30,000 crore for refinancing projects mainly in the highway and port sectors.
This will really help in financing big projects in turn will help the industry grow and also bring very good number of Job openings.

Post from: First Blog for Indian Financial Market

Second Stimulas Package for India Inc - IIFCL to raise 30,000 crore

Maruti Suzuki announces December 2008 Auto Sales Number

admin — Fri, 02 Jan 2009 18:41:46 +0000

Maruti Suzuki India Limited came out with 10 percent decline in December 2008 auto sales figure they have sold 56,293 vehicles in December 2008 which includes 4264 units they they had exported, this has gone up by think mere 3 percent or so. this is decline of 10 percent compared 62,515 vehicles that got sold in December 2007. Maruti Suzuki’s sales volume in the domestic A3 segment went up by 98 per cent( this is the section where they have SX4, Esteem, D’zireSX4, Esteem, D’zire ), im not sure if they where even selling this previous year may be they just started with it .

Post from: First Blog for Indian Financial Market

Maruti Suzuki announces December 2008 Auto Sales Number

TVS Motor announces December 2008 Auto Sales Number

admin — Fri, 02 Jan 2009 18:30:54 +0000

TVS Motor Company like any other auto company showed a decline in Auto sales , they have comne out with december 2008 auto sales and the total 2-wheeler sales were at 89,285 units versus 97,576 units on Year over Year basis. TVS Motor Company exports up 18% that really helped in getting the decline percentage kind of low.

Post from: First Blog for Indian Financial Market

TVS Motor announces December 2008 Auto Sales Number

ERA Infra bags order worth 294 crore

admin — Fri, 02 Jan 2009 18:19:53 +0000

Era infra informs the market that it has got various order worth 294 crore.
Order details
1. Construction of “Mega Hostel” for NIT at Calicut the contract value is Rs 89 crore.
2. Construction of 200 Bedded Hospital at Kokiwala Bagh, Ashok Vihar, Phase-IV, Delhi for PWD (GNCTD) and the contract value is Rs 73 crore.
3. Construction of Guru Gobind Singh Medical College, Senate Campus & Academic Campus for Baba Farid University of Health Sciences by Public Works Department (B&R), Govt. of Punjab & Punjab Infrastructure Development Board (PIDB) the contract value is71 crore.
4. Development of Athletics Training Venue for Commonwealth Games -2010 at Chhatrasal Stadium, New Delhi the contract value is Rs 60,26,03,521.

Post from: First Blog for Indian Financial Market

ERA Infra bags order worth 294 crore

Tata Motors declares December 2008 Auto Sales

admin — Fri, 02 Jan 2009 18:09:01 +0000

Tata Motors’came out with december 2008 auto sales.
Domestic sales
Domestic sales was at 23,894 numbers compared to 42,977 numbers in December last year decline by 44 percent.
Total sales
Which includes domestic and export sales is at 25,219 vehicles compared to 47,678 in 2007 december.Decline of almost 47 percent.
Cumulative Sales for year 2008
Cumulative sales for the company at 363,329 numbers, declined by 11%.

Post from: First Blog for Indian Financial Market

Tata Motors declares December 2008 Auto Sales

Reserve Bank of India Cuts CRR Rate , Repo Rate and Reserve Repo Rate

admin — Fri, 02 Jan 2009 12:36:49 +0000

In order to cope up with the Global recession all the country are doing this almost every month and India which was not really into recession is trying to take all the measure to kepp away from it , But its kind of deeper that expected , Out of the various cuts that Reserve bannk of india has did this is the latest
Repor Rate cut
To reduce the repo rate under the liquidity adjustment facility (LAF) by 100 basis points from 6.5 per cent to 5.5 per cent with immediate effect.
Reserve Repo Rate
To reduce the reverse repo rate under the LAF by 100 basis points from 5.0 per cent to 4.0 per cent with immediate effect.
Cash Reserve Ratio - CRR Rate
To reduce the cash reserve ratio (CRR) of scheduled banks by 50 basis points from 5.5 per cent to 5.0 per cent from the fortnight beginning January 17, 2009.
The CRR cut is not immdiate but atleast its happening this si the only gfactor that will put some money in banks hand which in turn can be used by banks for various purpose , So this cut will release 20,000 crore.We can expect more rate cuts in lending loansfrom various banks.

Post from: First Blog for Indian Financial Market

Reserve Bank of India Cuts CRR Rate , Repo Rate and Reserve Repo Rate

Inflation for week ending december 20 2008 at 6.38 percent

admin — Thu, 01 Jan 2009 07:33:08 +0000

Inflation for the week-ended December 20 came in at 6.38 percent week over week compared to the week before December 20th 2008which was at 6.61 percent.

Post from: First Blog for Indian Financial Market

Inflation for week ending december 20 2008 at 6.38 percent

How was sensex , Rupee , Gold and Oil in 2008

admin — Thu, 01 Jan 2009 05:18:52 +0000

First we will start with most affected sector which is Sensex
Sensex
Yesterday when the Bombay Stock Exchange sensitive index (Sensex) closed the year 2008 , The sensex almost closed by 69 points for yesterday and on a overall they have lost 10640 points or approximately 52 per cent.
>The BSE Sensex saw a sustained bull run in the past five years gaining 47.10% in 2007, 46.7% in 2006, 42.3% in 2005, 13.1% in 2004, 73% in 2003 and 3.52% in 2002.
>The BSE Mid-cap index lost 6554.44 points or 66.95% and the BSE Small-Cap index lost 9665.26 points or 72.40% to 3,683.11, in 2008.
Rupee
They next big loss was like rupee on the last day of 2008 it closed at 48.70 against 48.48 on December 30th 2008. The rupee moved in a range of 48.30 and 48.80 during intra-day. So totally In 2007, the rupee had gained more than 12 per cent to 39.41.
OIL
Oil slid below $39 a barrel on Wednesday, 31 December 2008, closing out its worst year ever after falling 60 percent, It saw its record high in the year 2008 by reaching almost 150 dollar a barrel.
GOLD
Gold prices had end the year 2008 on a very good side . The commodity hit an all time high of 1033 per ounce on COMEX in the very first quarter of the year and witnessed a volatile trade thereafter.

Post from: First Blog for Indian Financial Market

How was sensex , Rupee , Gold and Oil in 2008

Elecon Engineering bags order worth 22 crores from Adani Group

admin — Thu, 01 Jan 2009 04:53:18 +0000

Elecon Engineering Company Ltd has informed the market that the Company has bagged prestigious orders worth 22 Crores rs from Adani Power Ltd of Adani Group for Design, Engineering, Supply, Erection, Testing and Commissioning of Material Handling System at Mundra.

Post from: First Blog for Indian Financial Market

Elecon Engineering bags order worth 22 crores from Adani Group

ABM Knowledgeware bags e-government order worth 116 crores

admin — Thu, 01 Jan 2009 04:50:17 +0000

ABM Knowledgeware Ltd has informed the market that the Company has been awarded an
E-government Contract for Rs 116 Crores by Municipal Corporation of Greater Mumbai
(MCGM).This is think first of a kind project for them , the stock price was trading at
almost 14 rs or so.

Post from: First Blog for Indian Financial Market

ABM Knowledgeware bags e-government order worth 116 crores

Omaxe Ltd bags order worth 200 crores

admin — Thu, 01 Jan 2009 04:44:38 +0000

Omaxe Ltd has informed the market that the Company has got the in principle approval for construction of two Modern Jails, one in Kapurthala and other in Faridkot (Punjab) with an approximate value of Rs 200 Crores.

Post from: First Blog for Indian Financial Market

Omaxe Ltd bags order worth 200 crores

Jain Irrigation System bags project worth 27 crore

admin — Thu, 01 Jan 2009 04:42:24 +0000

Jain Irrigation Systems Limited (JISL) has informed the market yesterday that it has bagged the largest single order for its dehydrated Onion & Vegetables division to the value of almost 27 crores from a European customer. The order is for supply of dehydrated white onion in the Calendar year 2009. The said customer supplies many kinds of food ingredients to major European food manufacturers and food service companies.This will help build up very good clients and might get many more orders if this goes fine.

Post from: First Blog for Indian Financial Market

Jain Irrigation System bags project worth 27 crore

Rajendra Electrical Bonus Issue - Approved

admin — Wed, 31 Dec 2008 05:02:02 +0000

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.

Post from: First Blog for Indian Financial Market

Rajendra Electrical Bonus Issue - Approved

Tantia Constructions receives order worth 42.33 crores

admin — Wed, 31 Dec 2008 04:57:57 +0000

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.

Post from: First Blog for Indian Financial Market

Tantia Constructions receives order worth 42.33 crores

Punj Lloyd subisidiary bags order worth 45 million Singapore Dollar from ExxonMobil Asia Pacific

admin — Wed, 31 Dec 2008 04:55:14 +0000

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 .

Post from: First Blog for Indian Financial Market

Punj Lloyd subisidiary bags order worth 45 million Singapore Dollar from ExxonMobil Asia Pacific

PNB Special Housing Loan Scheme - Lowest interest offered for Housing Loan

admin — Mon, 29 Dec 2008 17:07:37 +0000

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.

Post from: First Blog for Indian Financial Market

PNB Special Housing Loan Scheme - Lowest interest offered for Housing Loan

Compucom Software bagged order worth 7.67 crore

admin — Mon, 29 Dec 2008 17:02:51 +0000

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.

Post from: First Blog for Indian Financial Market

Compucom Software bagged order worth 7.67 crore

KEC International bags order worth 678 crore

admin — Mon, 29 Dec 2008 16:58:40 +0000

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.

Post from: First Blog for Indian Financial Market

KEC International bags order worth 678 crore

Which ELSS Fund to invest - Pick the Fund Yourself easily

admin — Sun, 28 Dec 2008 14:34:41 +0000

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
Date Rank Risk Return Return %
for 1 year Expense
factor

Magnum Taxgain Mar-93 5 Below
Avg. High -55.63 2.5

Sundaram BNP Paribas
Taxsaver Nov-99 5 Below
Avg. High -48.62 2.24

Canara Robeco Equity
Tax Saver Mar-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

Post from: First Blog for Indian Financial Market

Which ELSS Fund to invest - Pick the Fund Yourself easily

Fund Name	Launch Date	Rank	Risk	Return	Return % for 1 year	Expense factor
Magnum Taxgain	Mar-93	5	Below Avg.	High	-55.63	2.5
Sundaram BNP Paribas Taxsaver	Nov-99	5	Below Avg.	High	-48.62	2.24
Canara Robeco Equity Tax Saver	Mar-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