INVESTORS PLEASE LISTEN !

Thursday, September 9, 2010

Fixed Deposit Rating Watch

Fixed Deposit Rating Watch

S.No.	Company	Rating
1	Alembic Ltd.	P1+ by CRISIL
2	Shriram Transport Finance	TAA
3	Mahindra Finance Ltd.	FAA+
4	Srei Infra. Fin. Ltd.	AA



S.No.	GOVT. COMPANIES / PSUs /SUBSIDIARIES	Rating
1	Canfin Homes Ltd.(Ind/Trust)	MAA
2	Canfin Homes Ltd.	MAA
3	Hudco (Ind/Trust)	FAAA
4	Icici Home Finance	MAAA
5	Ntpc	FAAA
6	National Housing Bank	FAAA
7	Pnb Housing	FAAA
8	Sidbi ( Individuals & Huf )	AAA

S.No.	NBFC /HOUSING FINANCE COMPANIES	RATINGS
1	Birla Home Finance Ltd.	MA
2	Dewan Housing Finance	CARE (AA+) IND 'AA'(FD)
3	Exim Bank	FAAA
4	Exim Bank- Above 1crore	FAAA
5	First Leasing	AA
6	Hdfc (Ind& Huf)	FAAA
7	Gruh Finance (Ind. Deposit)	FAA+ by CRISIL & MAA+ by ICRA
8	Sundaram Home Finance	MAA+

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Tuesday, September 7, 2010

Sector Update: Infrastructure; Road development in India

Infrastructure

Road development in India

Implementation of reco. by B.K. Chaturvedi driving the new awards

Adoption of the B.K. Chaturvedi report recommendations has cleared the long pending issue related to MCA & RFP, RFQ. Consequently, the road sector has seen a significant pick up in the awarding activity- 4,940 km of new projects being awarded over the last 9 months compared to just 1,877 km in FY08-09. This yields a monthly run rate of close to 550 kms of new project awards. The run rate has further increased to 700 kms With 2871 kms of new project awards, in the first 4 months of FY11 itself.

NHAI expects to award 18,000 kms over FY11-12

NHAI's FY11 target stands at 11599 kms of new awards. Add to it the 8250 km as spill over from FY10 targets, the cumulative target stands at 19856 kms of new awards. Though such a steep target is unlikely to be achieved over FY11, we would like to that the 8250 kms spil over from FY10 targets already have the requisite clearances and are ready for awards. NHAI expects to award ~9000 kms each in FY11E & FY12E, taking the overall tally to 18,000kms on new road awards over FY11-12. However, based on the monthly run rate of ~550km/per month over the last 9 months and ~700 km for YTD FY11, we expect NHAI to award 7000-7500 kms in FY11E.

Monday, September 6, 2010

List of Expected Issues in the Month of Sept 2010

SR	Issuer	Tentative
No		Issue Size	BRLMs/Synd Membs	Tentative Opening Date
		( Rs.in Crs)

1	Indo Solar Ltd.	500	Enam	13-Sep-10
2	*Microsec Finance*	*150*	*SBICap /JM Financial (Synd Member) Enam / Reliance Secs*	*14-Sep-10*
3	Commercial Engineers & Body Builders Co Limited	200	Edelweiss / ICICI Sec	15-Sep-10
4	V A TECH WABAG LIMITED.	300	Enam / IDFC SSKI	15-Sep-10
5	*Career Point Infosystems Ltd.*	*105*	*Centrum / JM Financial*	*16-Sep-10*
6	*Orient Green Power Co. Ltd.*	*900*	*JM Financial / Goldman Sachs / UBS Sec / Axis Bank*	*20-Sep-10*
7	Ashoka Buildcon	300	IDFC SSKI / Enam / Motilal	20-Sep-10
8	Eros International	350	Enam / Kotak/Morgan Stanley	20-Sep-10
9	You Boradband & Cable India Ltd.	350 - 400	Edelweiss	4th Week of Sept 2010
10	Electrosteel Integrated Limited	350	Edelweiss / Enam / SBI Caps	2/3rd Week of Sept 10
11	Inventure Growth	70	Intensive	2/3rd Week of Sept 10
12	Sea TV Network Limited	50	Chartered Capital	2/3rd Week of Sept 10
13	Techpro System	250	SBI Caps/ Kotak	2/3rd Week of Sept 10

Sunday, September 5, 2010

Company Fixed Deposits Rates

Please find FD Rates of Companies and NBFC Deposits Updated

Click on FD RATES

Thursday, September 2, 2010

Direct Tax Code: Watered Down Version

Direct Tax Code

Watered Down Version

In Nutshell

n The Finance Ministry submitted the new Direct Tax Code Bill to the Parliament on August 30, 2010, offering much lower benefits than in the original proposal. The new code would now be applicable from April 1, 2012, instead of April 1, 2011, as earlier proposed by the finance minister.

n Proposed bill which was supposed to be a simplified version, is infact much bulkier with 319 sections and 22 schedules against 298 sections and 14 schedules in existing IT Act.

n While the original DTC proposed sweeping changes in the tax structure for individuals and corporates offering significant reduction in tax liability, the new bill is a watered down version with lesser benefits.

n The proposed dividend distribution tax of 5% for both equity mutual funds (MFs) and unit linked insurance policies (ULIPs) is negative.

n The long-term capital gains exemption on listed equities along with Securities transaction tax (STT) remains as it is. Short-term capital gains will be taxed at half the slab rate that is 5-10-15%, depending on individual tax slabs. This is positive for capital markets, as the original document proposed to eliminate distinction between the two and imposed tax on it as per individual tax slabs.

n The new bill has retained most of the exemptions for income from employment and business in contrast to earlier document, which proposed to do away with most of the exemptions.

n Tax benefit on the principal component of housing loans to discontinue, however benefit continues for the Interest repayment.