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Wednesday, May 28, 2008
Tuesday, May 20, 2008
UAE bank launches its first Islamic Fund
The Union National Bank ( UNB ), bank of the UAE, has launched its first Islamic Fund that will focus on Islamic equities and other Sharia compliant investment instruments.
The AI Samaha Islamic Fund aims at investing in a balanced portfolio targeted at capital growth both in the short and long term.
The Fund is an open-ended fund with weekly liqridity.
Maruti raises car prices by up to Rs 18,000
The company has hiked the price of its latest model Swift Dzire by Rs 18,000. It had launched the sedan with an introductory price ranging Rs 4.49 lakh and Rs 6 lakh across different variants.
Others Motor companies are expected to follow the suit.
Kotak Mahindra Bank allots equity shares
The committee of Kotak Mahindra Bank has allotted 11,910 equity shares of Rs 10 each.
These shares were allotted at the committee meeting held on 17 May 2008.
Friday, May 16, 2008
Titagarh Wagons Limited
TWL is one of the leading private sector wagon manufactures in India. TWL operates in rail wagon, mining, bailey bridges, other modular steel bridges, special equipment for nuclear power sector and defence sector. TWL entered into a Joint Venture cimpany with Freight Car Inc, America for manufacture of Aluminium Rails case, Cooperation and Funding Agreement entered into with JPMorgan Maritius Holding Limited for investment in Cimmco Birla Limited.
PNB banks on strong Q4 figures
The bank announced the results during trading hours yesterday, 15 may 2008. The banks current equity is Rs 315.30 crore. Face Value per share is Rs 10.
PNB's net profit rose 33.03% to Rs 2048.76 crore on 25.42% increase in total income to Rs 16262.50 crore in the year ended March 2008 over the year ended FY07.
Sales Growth of LIC at 0.2%
LIC has registered a 0.2% in sales in FY08 as compared to 90.7% in FY07. Rason being the lack of takers for ULIPs which accounted for 80% of its sales in the previous year. Investors stayed away from ULIPs due to the volatile stock market. Growth of private insurance players has also fallen by 20%.
Inflation Rate increased again
Inflation Rate increased again
There is an increasement in Inflation rate from 7.6% to 7.83%.
Inflation rate is still more than 7.5 % from three weeks continuously.
Food articles index is up 0.5% while Fuel, Power index up 0.8%. Manufactured products index is up 0.3%. Prices of Coffee is up 6%, prices of Fruits up 5.4%
Thursday, May 15, 2008
FM says:
Financial minister P. Chidambaram says that the check on "VAYDA KAROBAR" of some commodities has been taken on the pressure of some political parties, left and other. Any reasonable reason is not behind it. FM also says prices are risen not due to the "VAYDA KAROBAR". There is no any check on the vayda karobar of rest commodities. He has to check vayda karobar due to the demand of all and the committee, set up to take decision on the effect of the vayda karobar, can not take any decision.
Plans of Aries Agro :
At this movement Aries Agro is operating before its trading price. Now Aries Agro plans to set up four new manufacturing units. Aries also plans to expense on the expansion of its mobile marketing. It will also increase its expansion on renovation of office building and construction.
HOME LOANS UPTO RS 30 LAKH GET CHEAPER
Home Loans upto Rs 30 lakh may get cheaper. Risk Weightage is the capital which is kept aside by banks. Bank has to lower its Risk Weight on such loans to 50%.
Risk Weight has also been reduced to 75% for Home Loans above Rs 30 lakh.
But the borrower's loan amount should not exceed 75% of the value of the property. If the loan amount for the property is above 75% of the value of the property then the Risk Weihtage will remain unchanged at 100%.Wednesday, May 14, 2008
ICICI Bank increases repayment tenor for home loan; cuts home lone EMI
The country's largest private sector lender ICICI bank has decided to rather increase
the repayment tenor for its home loan customers while cutting down their monthly installment amount.
Reason for this step is Inflationary pressure and rising interest. The new EMI amount for its customers would be
applicable from April 2008. If a customer wanted to continue with the existing EMI,
the borrower can approach the bank for resetting the EMI.
SBI banks on expansion in GI
SBI is India's largest commercial bank but it had underperformed the market over the past one month till
13 May 2008, declining 0.27% compared to the Sensex's return of 6.66% .
It had also underperformed the market in the past three months.
SBI will associate with Insurance Australia Group (IAG). SBI will hold 74% in the Venture, with
insurance Australia Group holding the remaining 26%.
Vieocon Industries
Videocon Industries will invest total 6,000 crore Rs.
Within next three years Videocon Industries plans to add 2.5 crore subscribers in Telecom sector.
Videocon Ind will invest 6,00 crore Rs in state "Uttaranchal".
Videocon Ind is going to start its Hospitality and Hydro power project. Ind will open it's first hotel
in KOLKATA.
Market Live
Nissan plans entry-level car in India by 2010.
Nissan will launch at least three models built in five leading competitive countries.
Invest in Mirae Asset India Opportunities Fund
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Regards,
Suraj Deo
Tuesday, May 13, 2008
Indian industrial production falls to 6-year low at 3%
Annual industrial growth stood at 8.1% vs 11.6%. March industrial growth stood at 3% vs 14.8%. Manufacturing products declines
but capital goods shows growth. March manufacturing growth stood at 2.9% vs 16%. FY08 manufacturing goods stood at 8.6% vs 12.5%.
REASONS:
Increasement in Interest Rate on loan.
Base effect
Pressure on margin due to rised cost
High prices of Raw Materials
PROBLEMS:
Industrial growth, probably, will be nearly 23% during FY08 – 12.
Income of new business will be lower
Decline in the growth
Crisis of bleeding oil companies
Petroleum Ministry facilitating credit of Rs 1.2 lakh crore to help bleeding oil cos.
Banks may not feel comfortable extending credit to state-owned oil companies which being projected at $ 40 to 45 billion this FY.
So, the Petroleum Ministry is talking with banks to facilitate credit of Rs 1.2 lakh crore.
But oil marketing firms are not attracted because such a measure is unable to fight the huge losses. OMC'S are losing Rs 450
crore a day, this when the Indian basket of crude was trading at $ 110.
Oil firms say raising prices is the only solution to overcome the liquidity sqreeze.
Oil bonds are also not helping OMC'S. And the cabinet decision to increase oil bonds from 42% to 57% of under recoveries has
still not been notified.
MARKET LIVE
ALCATEL LUCENT will become clients of the JV, despite RELCOMM'S association with it
- RELIANCE COMMUNICATIONS has formed a JOINT VENTURE with ALCATEL LUCENT.
- RELCOMMS is an India's second largest wireless operator by subscriber base.
- ALCATEL LUCENT is a French-American telecom equipment company.
- RELCOMMS will hold 34% and rest 66% will hold by ALCATEL LUCENT.
- JV is supposed to earn revenue approximately $ 500 by 2015.
Monday, May 12, 2008
Market
The market may open slightly lower today, says an NDTV Profit Poll. And one may see more downtrend below 4890. Nifty range for the day is expected to be 4930-5015
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