Wednesday 30 November 2011
Stock Trading Tips for 01 Dec 2011
Stock Trading Tips for 01 Dec 2011
| Scrip | Trigger | Price | Stop Loss | Target 1 |
|---|---|---|---|---|
| RANBAXY | BUY ABOVE | 439 | 435 | 450 |
| SELL BELOW | 430 | 434 | 422 | |
| SUNTV | BUY ABOVE | 267 | 265 | 275 |
| SELL BELOW | 262 | 264 | 259 |
Tuesday 29 November 2011
Stock Trading Tips for 30 Nov 2011
Stock Trading Tips for 30 Nov 2011
| Scrip | Trigger | Price | Stop Loss | Target 1 |
|---|---|---|---|---|
| BHARTIARTL | BUY ABOVE | 377 | 374 | 385 |
| SELL BELOW | 370 | 373 | 362 | |
| RELIANCE | BUY ABOVE | 772 | 765 | 792 |
| SELL BELOW | 757 | 764 | 740 |
Petrol in India costlier than in US
Petrol in India is costlier than in its neighboring countries and in the US, primarily because of high taxes.
Petrol in Delhi today costs Rs 66.42 per litre as against Rs 44.88 a litre price in the US, Minister of State for Petroleum and Natural Gas R P N Singh told Rajya Sabha in a written reply to a question.
Even after the November 16 reduction of Rs 2.22 per litre in rates, petrol at Rs 66.42 a litre in Delhi is costlier than Rs 48.64 a litre in Pakistan.
Whereas in Sri Lanka it is Rs 61.38 per litre, Rs 52.42 a litre in Bangladesh and Rs 65.26 per litre in landlocked Nepal. Incidentally, Nepal does not have a refinery and imports all its requirement from India. However, petrol in Europe is costlier than in India. In the UK, it is priced at Rs 104.60 per litre.
Singh said of the Rs 66.42 per litre price of petrol in Delhi includes Rs 26.59 a litre because of taxes (both central excise and local sales tax or VAT).
The US has only Rs 5.32 per litre tax on petrol while it is Rs 62.47 a litre in UK.
Petrol price in India has risen 39 per cent, or Rs 18.49 per litre, since April 2010. Petrol in Delhi cost Rs 47.63 per litre last year.
The hike in rates in Pakistan is lower at 26 per cent, from Rs 38.74 per litre to Rs 48.64 a litre. Sri Lanka has seen a 36 per cent increase from Rs 45.23 per litre in April 2010 to Rs 61.38 a litre at present.
In Nepal, petrol price went up from Rs 49.98 per litre to Rs 65.26 a litre currently, an increase of 31 per cent. Nearly 45 per cent of the current retail price of petrol in Delhi is made up of taxes.
The refinery price of petrol is just Rs 36.82 per litre, on top of which Rs 2.25 in inland freight and marketing cost and margin is added. Besides, Rs 14.78 per litre is the excise duty component and Rs 11.07 a litre is the sales tax that Delhi government charges. Another Rs 1.50 is the commission that petrol pump dealers earn.
Petrol in Delhi today costs Rs 66.42 per litre as against Rs 44.88 a litre price in the US, Minister of State for Petroleum and Natural Gas R P N Singh told Rajya Sabha in a written reply to a question.
Even after the November 16 reduction of Rs 2.22 per litre in rates, petrol at Rs 66.42 a litre in Delhi is costlier than Rs 48.64 a litre in Pakistan.
Whereas in Sri Lanka it is Rs 61.38 per litre, Rs 52.42 a litre in Bangladesh and Rs 65.26 per litre in landlocked Nepal. Incidentally, Nepal does not have a refinery and imports all its requirement from India. However, petrol in Europe is costlier than in India. In the UK, it is priced at Rs 104.60 per litre.
Singh said of the Rs 66.42 per litre price of petrol in Delhi includes Rs 26.59 a litre because of taxes (both central excise and local sales tax or VAT).
The US has only Rs 5.32 per litre tax on petrol while it is Rs 62.47 a litre in UK.
Petrol price in India has risen 39 per cent, or Rs 18.49 per litre, since April 2010. Petrol in Delhi cost Rs 47.63 per litre last year.
The hike in rates in Pakistan is lower at 26 per cent, from Rs 38.74 per litre to Rs 48.64 a litre. Sri Lanka has seen a 36 per cent increase from Rs 45.23 per litre in April 2010 to Rs 61.38 a litre at present.
In Nepal, petrol price went up from Rs 49.98 per litre to Rs 65.26 a litre currently, an increase of 31 per cent. Nearly 45 per cent of the current retail price of petrol in Delhi is made up of taxes.
The refinery price of petrol is just Rs 36.82 per litre, on top of which Rs 2.25 in inland freight and marketing cost and margin is added. Besides, Rs 14.78 per litre is the excise duty component and Rs 11.07 a litre is the sales tax that Delhi government charges. Another Rs 1.50 is the commission that petrol pump dealers earn.
How NRIs can claim Tax Deduction at Source exemption
Tax deduction at source in the case of Non-Residents - sec. 195
Special provisions are applicable to non-residents that income arising from interest from deposits, interest from specified securities, income from units of mutual funds etc. are liable for taxation at certain concessional rates i.e. 10%, 20% 30% etc. At the same time, Income-tax Act also fastens a liability on persons responsible for paying to on-resident (not being a company) or to a foreign company any interest or any other sum chargeable under the Income-tax Act (excluding salary), of deducting Income-tax thereon at source at the rates in force and credit the same to Central Government account. Such deduction of tax has to be made at the time of crediting the income to the account of the payee or recipient or at the time of payment. The rates presently prescribed are:-
(i) 20% on Investment income and long term capital gains and interest payable by Govt. or an Indian concern on moneys borrowed. However, it may be noted that in so far as T.D.S. on long term capital gains relating to foreign exchange assets, for Asst. Year 1998-99 is concerned, rate of T.D.S. will be at 10% as against 20% for 1997-98 and earlier year as specified above;
(ii) 40% on income by way of winnings from lotteries and cross word puzzles and winnings from horse races, and
(iii) 30% on all other income. This is of course subject to concessional rate of tax applicable to non-residents as will be discussed in the chapter dealing with special provisions applicable to non-residents. If the amount of other income like rent etc. exceeds Rs. 1,20,000/- then the tax will be deducted at the rate higher than 30% as may be applicable to the income of non-resident.
The amount of income tax deducted is to be increased by surcharge @10%.
One important factor to be kept in mind is that the expression "any other sum" chargeable under the provisions of the I.T.Act as used in Section 195 of Income Tax Act does not necessarily refer to sums which represent wholly income or profit to the recipient. Section 195 takes within its sweep any sums paid to a non-resident which do not wholly represent income or profit chargeable under the Act but a portion of which only so represents. In view thereof, a provision is also made for the determination in advance of the actual amount representing income out of the total sum payable to a non resident. For this purpose an advance determination from assessing officer is required to be obtained by the payer. Non-resident recipient of income can also approach the assessing officer and obtain certificate that no deduction be made while paying amount to the non-resident.
There are two circumstances in which you might be eligible for TDS exemption:
1) If the DTAA between the country of your residence and India allows a lower rate of TDS
2) If your total income is lower than the basic exemption limit of Rs 1.6 lakh
So the next question is: What does an NRI need to do in order to take the benefit of this exemption or reduced rate of tax?
If the DTAA between the country of your residence and India allows a lower rate of TDS
We saw that in case of certain incomes like interest income or royalty income, the DTAA for US and UK allows a reduced rate of TDS for NRIs. For instance, in case of interest income, while TDS is deducted at 30 per cent for NRIs, where there is a DTAA, the TDS rate is reduced to 15 per cent.
Similarly, there is a complete waiver of TDS in case of fees for professional services. So if you are an NRI providing services to someone in India and are receiving payment thereof, you can get a waiver of TDS.
However, in order to claim the reduced rate of TDS or waiver of TDS under the DTAA, you would need to submit a tax residency certification from the country of your residence. This will certify that you are a tax paying resident in that other country and that tax on that income is being duly paid in that country, ensuring no leakage of tax revenue for either countries.
In the US, the tax residency certificate is called Form 6166 and the application needs to be made to the Internal Revenue Service (IRS) in Form 8802. Complete details of the procedure are available here. In the UK you would need to get the tax residency certificate from the HM Revenue and Customs.
If your total income is lower than the basic exemption limit of Rs 1.6 lakh
It may happen that your total income in India is less than the basic exemption limit of Rs 1.6 lakh per financial year. In such cases, you may apply to the Income Tax Officer in your jurisdiction in India, requesting for a waiver of TDS. If the Tax Officer grants you the waiver, you may submit this to the payers such as your bank and claim TDS exemption.
Special provisions are applicable to non-residents that income arising from interest from deposits, interest from specified securities, income from units of mutual funds etc. are liable for taxation at certain concessional rates i.e. 10%, 20% 30% etc. At the same time, Income-tax Act also fastens a liability on persons responsible for paying to on-resident (not being a company) or to a foreign company any interest or any other sum chargeable under the Income-tax Act (excluding salary), of deducting Income-tax thereon at source at the rates in force and credit the same to Central Government account. Such deduction of tax has to be made at the time of crediting the income to the account of the payee or recipient or at the time of payment. The rates presently prescribed are:-
(i) 20% on Investment income and long term capital gains and interest payable by Govt. or an Indian concern on moneys borrowed. However, it may be noted that in so far as T.D.S. on long term capital gains relating to foreign exchange assets, for Asst. Year 1998-99 is concerned, rate of T.D.S. will be at 10% as against 20% for 1997-98 and earlier year as specified above;
(ii) 40% on income by way of winnings from lotteries and cross word puzzles and winnings from horse races, and
(iii) 30% on all other income. This is of course subject to concessional rate of tax applicable to non-residents as will be discussed in the chapter dealing with special provisions applicable to non-residents. If the amount of other income like rent etc. exceeds Rs. 1,20,000/- then the tax will be deducted at the rate higher than 30% as may be applicable to the income of non-resident.
The amount of income tax deducted is to be increased by surcharge @10%.
One important factor to be kept in mind is that the expression "any other sum" chargeable under the provisions of the I.T.Act as used in Section 195 of Income Tax Act does not necessarily refer to sums which represent wholly income or profit to the recipient. Section 195 takes within its sweep any sums paid to a non-resident which do not wholly represent income or profit chargeable under the Act but a portion of which only so represents. In view thereof, a provision is also made for the determination in advance of the actual amount representing income out of the total sum payable to a non resident. For this purpose an advance determination from assessing officer is required to be obtained by the payer. Non-resident recipient of income can also approach the assessing officer and obtain certificate that no deduction be made while paying amount to the non-resident.
There are two circumstances in which you might be eligible for TDS exemption:
1) If the DTAA between the country of your residence and India allows a lower rate of TDS
2) If your total income is lower than the basic exemption limit of Rs 1.6 lakh
So the next question is: What does an NRI need to do in order to take the benefit of this exemption or reduced rate of tax?
If the DTAA between the country of your residence and India allows a lower rate of TDS
We saw that in case of certain incomes like interest income or royalty income, the DTAA for US and UK allows a reduced rate of TDS for NRIs. For instance, in case of interest income, while TDS is deducted at 30 per cent for NRIs, where there is a DTAA, the TDS rate is reduced to 15 per cent.
Similarly, there is a complete waiver of TDS in case of fees for professional services. So if you are an NRI providing services to someone in India and are receiving payment thereof, you can get a waiver of TDS.
However, in order to claim the reduced rate of TDS or waiver of TDS under the DTAA, you would need to submit a tax residency certification from the country of your residence. This will certify that you are a tax paying resident in that other country and that tax on that income is being duly paid in that country, ensuring no leakage of tax revenue for either countries.
In the US, the tax residency certificate is called Form 6166 and the application needs to be made to the Internal Revenue Service (IRS) in Form 8802. Complete details of the procedure are available here. In the UK you would need to get the tax residency certificate from the HM Revenue and Customs.
If your total income is lower than the basic exemption limit of Rs 1.6 lakh
It may happen that your total income in India is less than the basic exemption limit of Rs 1.6 lakh per financial year. In such cases, you may apply to the Income Tax Officer in your jurisdiction in India, requesting for a waiver of TDS. If the Tax Officer grants you the waiver, you may submit this to the payers such as your bank and claim TDS exemption.
Monday 28 November 2011
Tamil Nadu Guideline value in January , 2012
The Tamilnadu government had lost stamp duty because of the long gaps between revisions of guideline values. The last revision was in 2007, when the guideline values fixed in 2006 were notified. The latest revision comes a full 5 years after the last assessment of guideline values.
''The guideline value final draft is expected to be ready by December 15, 2011 for the government to take action. The new law provides for rapid changes in market values. It may be implement in January 2012" said One of the government official in registration department.Lands across the Tamilnadu depending on agricultural, residential, commercial or industrial, have been classified into as many as above 100 categories for the purpose of fixation of guideline values.
For an example, in the case of agricultural lands, depending on if they are wet lands irrigated by channels, wells, single cropped or double cropped, lands adjacent to highways and rail lines and bus route in which case there is a possibility that they are likely to be converted to industrial land.
The draft guideline values have taken into account the market values & patterns. The fast developing suburbs and peripheral areas will see guideline values move higher in line with market patterns.In the state, land value is unlikely to be below Rs. 1 lakh an acre anywhere. So, low land values have been largely corrected that is increased in many fold.
''The guideline value final draft is expected to be ready by December 15, 2011 for the government to take action. The new law provides for rapid changes in market values. It may be implement in January 2012" said One of the government official in registration department.Lands across the Tamilnadu depending on agricultural, residential, commercial or industrial, have been classified into as many as above 100 categories for the purpose of fixation of guideline values.
For an example, in the case of agricultural lands, depending on if they are wet lands irrigated by channels, wells, single cropped or double cropped, lands adjacent to highways and rail lines and bus route in which case there is a possibility that they are likely to be converted to industrial land.
Categories Detail
35 categories - Wet lands;
21 categories - Dry land ;
20 categories - Residential land ;
8 categories - Commercial use ;
35 categories - Wet lands;
21 categories - Dry land ;
20 categories - Residential land ;
8 categories - Commercial use ;
6 categories - Mixed use ;
5 categories - Industrial use.
5 categories - Industrial use.
The draft guideline values have taken into account the market values & patterns. The fast developing suburbs and peripheral areas will see guideline values move higher in line with market patterns.In the state, land value is unlikely to be below Rs. 1 lakh an acre anywhere. So, low land values have been largely corrected that is increased in many fold.
Stock Trading Tips for 29 Nov 2011
Stock Trading Tips for 29 Nov 2011
| Scrip | Trigger | Price | Stop Loss | Target 1 |
|---|---|---|---|---|
| WIPRO | BUY ABOVE | 375 | 372 | 380 |
| SELL BELOW | 368 | 371 | 356 | |
| TCS | BUY ABOVE | 1099 | 1089 | 1120 |
| SELL BELOW | 1076 | 1085 | 1041 |
Friday 25 November 2011
Stock Trading Tips for 28 Nov 2011
Stock Trading Tips for 28 Nov 2011
| Scrip | Trigger | Price | Stop Loss | Target 1 |
|---|---|---|---|---|
| BEL | BUY ABOVE | 1508 | 1495 | 1532 |
| SELL BELOW | 1478 | 1492 | 1448 | |
| INFY | BUY ABOVE | 2,625 | 2602 | 2685 |
| SELL BELOW | 2573 | 2598 | 2526 |
HDFC Bank launches Swift personal loan
Keeping in mind customers’ need for instant solutions to their financial needs, HDFC Bank has launched personal loan 'Swift', a product that’s processed in 24 hours.
Using cutting-edge imaging solution technology, HDFC Bank will now set the pace in this product category and ensure that loan processing will start the moment a customer steps into a branch in the morning and completed in 24 hours.
'Swift' will soon be available to all customers who hold salary accounts with the bank in 25 select branches across the country.
Sai Giridhar, senior vice-president and business manager, unsecured loans, HDFC Bank, said: “In today’s world, the frenetic pace of life leaves people with very little time. Hence, customers want financial solutions in the least possible time. We are confident that personal loan 'Swift' will be able to meet such requirement.”
Swift was unveiled at the HITEC City branch in Hyderabad by Sai Giridhar, and C S Gopinath, executive vice-president, regional head, AP and Chennai, HDFC Bank.
Using cutting-edge imaging solution technology, HDFC Bank will now set the pace in this product category and ensure that loan processing will start the moment a customer steps into a branch in the morning and completed in 24 hours.
'Swift' will soon be available to all customers who hold salary accounts with the bank in 25 select branches across the country.
Sai Giridhar, senior vice-president and business manager, unsecured loans, HDFC Bank, said: “In today’s world, the frenetic pace of life leaves people with very little time. Hence, customers want financial solutions in the least possible time. We are confident that personal loan 'Swift' will be able to meet such requirement.”
Swift was unveiled at the HITEC City branch in Hyderabad by Sai Giridhar, and C S Gopinath, executive vice-president, regional head, AP and Chennai, HDFC Bank.
TN CM sanctions Rs 47.49 Cr for modernisation of police force
Tamil Nadu Chief Minister J Jayalalithaa today sanctioned Rs 47.49 crore to further modernise the state police force.
Ms Jayalalithaa, who introduced modern vehicles and arms like AK 47 in 1991, sanctioned the amount to build new police stations, provide housing facilities, purchase new vehicles and communication system, an official release said.
The government has sanctioned Rs 15.51 crore to construct building for police stations, Rs 5.06 crore for police housing, Rs 9.38 crore for buying vehicles, Rs 23 lakh for communication, Rs 1.20 crore for training and Rs 14.60 crore for procuring modern equipments, the release said.
The modernisation and additional facilities would help the police to develop further and ensure that Tamil Nadu remained a haven of peace, it said.
Ms Jayalalithaa, who introduced modern vehicles and arms like AK 47 in 1991, sanctioned the amount to build new police stations, provide housing facilities, purchase new vehicles and communication system, an official release said.
The government has sanctioned Rs 15.51 crore to construct building for police stations, Rs 5.06 crore for police housing, Rs 9.38 crore for buying vehicles, Rs 23 lakh for communication, Rs 1.20 crore for training and Rs 14.60 crore for procuring modern equipments, the release said.
The modernisation and additional facilities would help the police to develop further and ensure that Tamil Nadu remained a haven of peace, it said.
Thursday 24 November 2011
Stock Trading Tips for 25 Nov 2011
Stock Trading Tips for 25 Nov 2011
| Scrip | Trigger | Price | Stop Loss | Target 1 |
|---|---|---|---|---|
| GAIL | BUY ABOVE | 390 | 387 | 401 |
| SELL BELOW | 383 | 386 | 373 | |
| ACC | BUY ABOVE | 1,125 | 1,115 | 1,154 |
| SELL BELOW | 1,103 | 1,112 | 1,090 |
BMW India launches pre-owned car business
German luxury car maker BMW today launched its pre-owned car business in India that can make customers own a product of the brand for as low as Rs 16 lakh.
The company said it is looking at the business, BMW Premium Selection, to account for up to 10 per cent of its total new car sales.
"Till October this year we have sold a total of 8,042 cars in India, accounting for 40 per cent of the luxury car market. With the BMW Premium Selection, we are looking to enhance position," BMW India President Andreas Schaaf told reporters here.
The pre-owned car business will play an important role in the success of the company in India, he added. "We expect the used car business to be about 10 per cent of new car sales," he said.
Asked how much would be the price differential between the new and used BMWs, Schaaf said : "For example, a 3Series sedan with three years of usage, can be available for up to Rs 16 lakh as against Rs 24 lakh for a brand new one."
The company said it is looking at the business, BMW Premium Selection, to account for up to 10 per cent of its total new car sales.
"Till October this year we have sold a total of 8,042 cars in India, accounting for 40 per cent of the luxury car market. With the BMW Premium Selection, we are looking to enhance position," BMW India President Andreas Schaaf told reporters here.
The pre-owned car business will play an important role in the success of the company in India, he added. "We expect the used car business to be about 10 per cent of new car sales," he said.
Asked how much would be the price differential between the new and used BMWs, Schaaf said : "For example, a 3Series sedan with three years of usage, can be available for up to Rs 16 lakh as against Rs 24 lakh for a brand new one."
Mittal most powerful Asian in UK
Lakshmi Mittal, the NRI steel tycoon with a fortune estimated at 15.5 billion pounds, is the most powerful Asian in Britain, according to a new list of eminent Asians in the country.
Mittal, 61, Chairman of the Board of Directors and CEO of ArcelorMittal, the world's leading integrated steel and mining company, heads the Power list of 101 in the category of Industry published by Eastern Eye, a weekly newspaper here.
"Today, Mittal has all the trappings of wealth, power and influence - properties in Kensinghton Palace Gardens, a private jet, a 266 million pound yacht, and an eco-friendly house set on a 340-acre estate in Surrey," according to the GG2 (Garavi Gujarat) Power 101, Britain's Most Influential Asians 2011.
The list was released by Britain's Deputy Prime Minister Nick Clegg at the GG2 Leadership Awards here last night.
Mittal, 61, Chairman of the Board of Directors and CEO of ArcelorMittal, the world's leading integrated steel and mining company, heads the Power list of 101 in the category of Industry published by Eastern Eye, a weekly newspaper here.
"Today, Mittal has all the trappings of wealth, power and influence - properties in Kensinghton Palace Gardens, a private jet, a 266 million pound yacht, and an eco-friendly house set on a 340-acre estate in Surrey," according to the GG2 (Garavi Gujarat) Power 101, Britain's Most Influential Asians 2011.
The list was released by Britain's Deputy Prime Minister Nick Clegg at the GG2 Leadership Awards here last night.
Wednesday 23 November 2011
My TVS Automobile Solutions Limitedat Hyderabad airport
Commenting on the inauguration of 24x7 emergency breakdown services at GMR Hyderabad airport, R Srivatchan, president, TVS Automobile Solutions, said, 'We are quite thrilled and happy to join hands with GMR to provide first-of-its-kind emergency service assistance in an airport in India. My TVS has always been the innovator in providing best services to its customers. We have also been making a lot of strategic tie-ups to expand our base to serve customers in the best possible way.'
Fedbank launches Fast Gold Loan
Fedbank Financial Services Ltd Fedfina launched its first loan product ‘Fast Gold Loan’ in Chennai yesterday.
Some features of the product includes gold jewellery within 20 to 24 carat acceptable under pledge, loan up to 90 per cent of the gold value at current market rate and 'hassle free' loan on borrowers without any income proof against unsecured personal loans.
Speaking at the launch, deputy general manager and acting head of Fedbank P K Mohapatra said, 'While the organized market is only 0.12 per cent of total gold stock value at around Rs 40000 crore, the unorganized market is around three to four times of the organized market.'
He added that the bank intends to introduce more value products for customers in future and the bank’s current disbursement is Rs. 3.1 lakh per branch per day offering 12 to 24 per cent per annul.
Some features of the product includes gold jewellery within 20 to 24 carat acceptable under pledge, loan up to 90 per cent of the gold value at current market rate and 'hassle free' loan on borrowers without any income proof against unsecured personal loans.
He added that the bank intends to introduce more value products for customers in future and the bank’s current disbursement is Rs. 3.1 lakh per branch per day offering 12 to 24 per cent per annul.
Indian Bank announces 100% coverage in Pondycherry
Indian Bank, the SLBC Convenor Bank for Puducherry, has announced that the Union Territory became the first among all States / Union Territories in the country to have achieved 100 per cent banking coverage in all the villages including those having population of 2000 and less, under Financial Inclusion Programme.
According to a press release, T M Bhasin, Chairman and Managing Director, Indian Bank informed that in the year 2005, National Pilot Project for Financial Inclusion was launched by the State Level Bankers’ Committee (SLBC) covering the entire Puducherry which paved the way and set the tone for the Financial Inclusion process in the country.
According to a press release, T M Bhasin, Chairman and Managing Director, Indian Bank informed that in the year 2005, National Pilot Project for Financial Inclusion was launched by the State Level Bankers’ Committee (SLBC) covering the entire Puducherry which paved the way and set the tone for the Financial Inclusion process in the country.
Stock Trading Tips for 24 Nov 2011
Stock Trading Tips for 24 Nov 2011
| Scrip | Trigger | Price | Stop Loss | Target 1 |
|---|---|---|---|---|
| UTISUNDER | BUY ABOVE | 1,277 | 1,265 | 1,291 |
| SELL BELOW | 1,251 | 1,263 | 1,238 | |
| GLODYNE | BUY ABOVE | 249 | 247 | 254 |
| SELL BELOW | 244 | 246 | 239 |
Tuesday 22 November 2011
Globals Indian markets
Indian markets continued losing streak for eight straight days, down -2.6 percent yesterday, to their lowest close in more than six weeks as global markets tumbled on as negative news flows continued to hurt investor sentiments.
Asian, European and US stock futures, all registered steep losses, after investors worried that the crisis is not limited to Euro-zone and may spread to US and China. News reports that the US congressional committee assigned to draft a plan for cutting $1.2tn from the nation's deficit over 10 years is expected to announce that it has failed along with Moody's warned France that it may change its "stable" outlook on the rating to "negative" in the coming months and sharply weaker rupee led the global market fall. All sectoral indices closed on negative with metal, bank, real estate and power stocks were major losers. Metal stocks hurt most on sell as commodity prices all over the world fall sharply. Gold and crude oil were down 1% and 1.9%, respectively. India's miners and metal companies followed the weakness in the global mining stocks. Bharti Airtel fell 2.3 percent after the federal police searched its office along with that of Vodafone's Indian unit over the weekend, seek details on spectrum allocation by the government to operators between 2001 and 2002. Rural Electrification Corp, a lender to TNEB, gained -2% on media reports that Tamil Nadu Electricity Board (TNEB) has sought the power regulator's approval to increase tariffs by 38%.
Market breadth was weak at -0.4x as investors sold large cap stocks. FIIs sold equities worth Rs.7.43bn while domestic institutions bought equities of Rs.5.95bn.
Asian stocks traded off their worst levels Tuesday, as investors appeared to temporarily look past the debt worries that have recently gripped markets to pick up shares in selected firms.We expect a weak start for the Indian markets tracking the global cues. However, a bounce back is possible as Asian markets are off their day's lows.
Economic and Corporate Developments
According to research firm Gartner, Indian companies are expected to continue investing in IT infrastructure despite global economic challenges and the country's IT spending is projected to grow 9.1% to $79.8bn in 2012 against an IT spending of $73.1bn in 2011.
Amid sustained fall in rupee's value, the Plan panel attributed the decline to volatility in the global currency market, but expressed the hope that the Indian currency would stabilize soon.Atlanta received in principle approval from the state government to set up a $2bn (Rs.10,412Cr) theme park in Surat.
Infosys plans to expand in Northern region. The company hired 5700 employees at its Chandigarh facility.Infosys said further deterioration of economic conditions in US and Europe could hit the domestic IT sector, though at present the impact was not as bad as it was in 2008.
Reliance Broadcast Network tied up with the US based wrestling show producer Lucha Libre for content sharing and is eying more partners for such tie-ups for its TV channels in India.
US markets
U.S. stocks sank Monday, pulling the Dow Jones Industrial Average into negative territory for 2011, as the lack of progress by American lawmakers in reaching a deficit-cutting agreement magnified worry that Europe’s debt crisis would spur a global downturn.After falling as much as 342 points, the Dow Jones Industrial Average finished at 11,547.31, losing 248.85 points, or 2.1%. The S&P 500 Index fell 22.67 points, or 1.9%, to 1,192.98. The Nasdaq Composite Index declined 49.36 points, or 1.9%, to 2,523.14.
Asian, European and US stock futures, all registered steep losses, after investors worried that the crisis is not limited to Euro-zone and may spread to US and China. News reports that the US congressional committee assigned to draft a plan for cutting $1.2tn from the nation's deficit over 10 years is expected to announce that it has failed along with Moody's warned France that it may change its "stable" outlook on the rating to "negative" in the coming months and sharply weaker rupee led the global market fall. All sectoral indices closed on negative with metal, bank, real estate and power stocks were major losers. Metal stocks hurt most on sell as commodity prices all over the world fall sharply. Gold and crude oil were down 1% and 1.9%, respectively. India's miners and metal companies followed the weakness in the global mining stocks. Bharti Airtel fell 2.3 percent after the federal police searched its office along with that of Vodafone's Indian unit over the weekend, seek details on spectrum allocation by the government to operators between 2001 and 2002. Rural Electrification Corp, a lender to TNEB, gained -2% on media reports that Tamil Nadu Electricity Board (TNEB) has sought the power regulator's approval to increase tariffs by 38%.
Market breadth was weak at -0.4x as investors sold large cap stocks. FIIs sold equities worth Rs.7.43bn while domestic institutions bought equities of Rs.5.95bn.
Asian stocks traded off their worst levels Tuesday, as investors appeared to temporarily look past the debt worries that have recently gripped markets to pick up shares in selected firms.We expect a weak start for the Indian markets tracking the global cues. However, a bounce back is possible as Asian markets are off their day's lows.
Economic and Corporate Developments
According to research firm Gartner, Indian companies are expected to continue investing in IT infrastructure despite global economic challenges and the country's IT spending is projected to grow 9.1% to $79.8bn in 2012 against an IT spending of $73.1bn in 2011.
Amid sustained fall in rupee's value, the Plan panel attributed the decline to volatility in the global currency market, but expressed the hope that the Indian currency would stabilize soon.Atlanta received in principle approval from the state government to set up a $2bn (Rs.10,412Cr) theme park in Surat.
Infosys plans to expand in Northern region. The company hired 5700 employees at its Chandigarh facility.Infosys said further deterioration of economic conditions in US and Europe could hit the domestic IT sector, though at present the impact was not as bad as it was in 2008.
Reliance Broadcast Network tied up with the US based wrestling show producer Lucha Libre for content sharing and is eying more partners for such tie-ups for its TV channels in India.
US markets
U.S. stocks sank Monday, pulling the Dow Jones Industrial Average into negative territory for 2011, as the lack of progress by American lawmakers in reaching a deficit-cutting agreement magnified worry that Europe’s debt crisis would spur a global downturn.After falling as much as 342 points, the Dow Jones Industrial Average finished at 11,547.31, losing 248.85 points, or 2.1%. The S&P 500 Index fell 22.67 points, or 1.9%, to 1,192.98. The Nasdaq Composite Index declined 49.36 points, or 1.9%, to 2,523.14.
Stock Trading Tips for 23 Nov 2011
Stock Trading Tips for 23 Nov 2011
| Scrip | Trigger | Price | Stop Loss | Target 1 |
|---|---|---|---|---|
| TATAMOTORS | BUY ABOVE | 174 | 172 | 178 |
| SELL BELOW | 170 | 172 | 164 | |
| TCS | BUY ABOVE | 1092 | 1082 | 1119 |
| SELL BELOW | 1070 | 1080 | 1051 |
History of Tihar Jail
Prior to 1958, a small Jail was located at Delhi Gate area of Delhi. In 1958, the prison was transferred from Delhi Gate to a site on the land of Tihar Village in western part of New Delhi. In the beginning, only one Central Jail was commissioned with the lodging capacity of 1273 prisoners.
Till 1966, the administrative control of Delhi Jails was with the Government of the state of Punjab. The same was transferred to the Delhi Administration, Delhi in 1966. There was applicability of Punjab Jail manual on Delhi Jails upto April 1988 when Delhi Jail Manual was drafted and came into force. There was no full-fledged post of Inspector General of Delhi Prisons till March 1986 and this work was being additionally shouldered by the Dy. Commissioner, Delhi. In 1986, the full fledged post of Inspector General was created and was headed by a senior IPS officer. The prison population gradually grew and consequently new jails were constructed as reflected below:
| 1958 | Central Jail commissioned at Tihar with a sanctioned capacity of 1273 prisoners |
| 1980 | District Jail constructed with a sanctioned capacity to lodge 740 prisoners |
| 1984-85 | The existing Central jail was trifurcated during this period as Central Jail No.1, 2 & 3 having sanctioned capacity for each jail as 565, 455 & 740 prisoners respectively. |
| 1990 | District Jail was elevated to Central Jail and designated as Central Jail No. 4 |
| 1996 | Central Jail No.5 commissioned with a sanctioned capacity of 750 prisoners for keeping adolescents inmates (between the age group of 18 to 21 years) |
| 2000 | Central Jail No.6 commissioned for exclusively lodging 400 female prisoners |
| 2003 | Central Jail No.7 commissioned for lodging 350 prisoners |
| 2004 | District Jail, Rohini commissioned for lodging 1050 prisoners |
| 2005 | Central Jail No. 8&9 commissioned for lodging 600 prisoners each |
Prison Statistics & Classification of Prison Population(as on 30th April 2009)
Total Capacity | Prison Population |
Male | Female | Total | Male | Female | Total |
5850 | 400 | 6250 | 11259 | 479 | 11738 |
Male | Female | |
| Convicts | 2023 | 71 |
| Undertrials | 9212 | 408 |
| Detenues | 19 | 0 |
| Others | 5 | 0 |
| Total | 11259 | 479 |
| TOTAL | 11738 | |
Age wise Classification of Prisoners (as on 30th April 2009)
Male | Female | |
| 18 - 21 years | 1199 | 25 |
| 21 - 30 years | 5893 | 110 |
| 30 - 50 years | 3593 | 273 |
| 50 - 65 Years | 516 | 59 |
| 65 and above | 58 | 12 |
| Total | 11259 | 479 |
| TOTAL | 11738 | |
Foreign Prisoners (as on 30th April 2009)
Male | Female | |
| Convict | 71 | 2 |
Undertrials | 318 | 75 |
Others (Civil & Detenues) | 13 | 0 |
| Total | 402 | 77 |
| TOTAL | 479 | |
classification of Undertrials as per the Length of stay in Jail (as on 30th April 2009)
PERIOD | Male | Female |
| Upto 01 month | 1872 | 97 |
| 01 - 03 months | 1778 | 65 |
| 03 - 06 months | 1502 | 22 |
| 06 - 12 months | 1225 | 59 |
| 12 - 24 months | 1318 | 69 |
| 24 - 36 months | 839 | 36 |
| 36 - 48 months | 370 | 21 |
| 48 - 60 months | 190 | 27 |
| Above 60 months | 118 | 12 |
| Total | 9212 | 408 |
| TOTAL | 9620 | |
Classification of Convict Prisoners as per term of imprisonment (as on 30th April 2009)
| PERIOD | Male | Female |
| Upto 01 month | 48 | 0 |
| 01 - 03 months | 61 | 0 |
| 03 - 06 months | 78 | 0 |
| 06 - 12 months | 83 | 1 |
| 01 - 02 years | 112 | 2 |
| 02 - 05years | 204 | 15 |
| 05 - 10 years | 482 | 10 |
| Above 10 years | 248 | 8 |
| Life sentence | 695 | 35 |
| Death sentence | 12 | 0 |
| Total | 2023 | 71 |
| TOTAL | 2094 | |
Union home minister P Chidambaram discussed with former telecom minister A Raja in may-June 2008 the issue of pricing of the 2G
finance ministry documents dated July 4, 2008, he told a press conference here that Chidambaram, then the finance minister, and Raja had agreed upon fixing the pricing of 2G spectrum.
The documents also show that they discussed spectrum usage charge and also the pricing for 3G bandwidth. The new 2G licences were distributed in January, 2008 by Raja who is facing prosecution.
"I am releasing these documents to demolish any argument that meeting between Chidambaram and Raja did not take place. There is no ambiguity (that they met)," said Swamy, a petitioner in the case on the multi-crore scam, who has sought making Chidambaram a co-accused.
"It has been agreed that the base price of 2G spectrum shall be determined by taking the entry fee of Rs 1,650 crore determined in 2003-04 for pan-India operation of UASL licensees as a price of spectrum for 6.2 mhz of bandwidth for GSM operators", the document said.
This was the 2001 rate adopted by NDA government, Swamy said.
"The document shows it (pricing) was an agreement. It comes clear," he said and claimed the two had met four times.
Swamy said he will file these documents before the court in Delhi on December 3 when the case comes up for hearing.
The documents also show that they discussed spectrum usage charge and also the pricing for 3G bandwidth. The new 2G licences were distributed in January, 2008 by Raja who is facing prosecution.
"I am releasing these documents to demolish any argument that meeting between Chidambaram and Raja did not take place. There is no ambiguity (that they met)," said Swamy, a petitioner in the case on the multi-crore scam, who has sought making Chidambaram a co-accused.
"It has been agreed that the base price of 2G spectrum shall be determined by taking the entry fee of Rs 1,650 crore determined in 2003-04 for pan-India operation of UASL licensees as a price of spectrum for 6.2 mhz of bandwidth for GSM operators", the document said.
"The document shows it (pricing) was an agreement. It comes clear," he said and claimed the two had met four times.
Swamy said he will file these documents before the court in Delhi on December 3 when the case comes up for hearing.
Monday 21 November 2011
Stock Trading Tips for 22 Nov 2011
Stock Trading Tips for 22 Nov 2011
| Scrip | Trigger | Price | Stop Loss | Target 1 |
|---|---|---|---|---|
| HEROMOTOCO | BUY ABOVE | 2,193 | 2173 | 2235 |
| SELL BELOW | 2149 | 2169 | 2089 | |
| BAJAJ-AUTO | BUY ABOVE | 1639 | 1624 | 1675 |
| SELL BELOW | 1,607 | 1,621 | 1,565 |
NDA to target Chidambaram :2G Scam
"The then finance minister Chidambaram is equally responsible for the 2G Scam as the then telecom minister A Raja is. The Prime Minister has taken Raja's resignation, but didn't seek Chidambaram's resignation. "Till P Chidambaram's resignation is accepted, we will boycott him in Parliament. We will not allow him to speak," said S S Ahluwalia, deputy leader of the opposition in Rajya Sabha.
In escalation of confrontation, the NDA today decided to target home minister P Chidambaram by boycotting him and not allowing him to speak in Parliament, holding him also responsible for the 2G Scam.
In a sudden move, the BJP-led NDA demanded the resignation of Chidambaram, who was finance minister in UPA-I, and declared that they will boycott him till his resignation was accepted by the Prime Minister.
The NDA decision came on the eve of start of the Winter Session of Parliament at a meeting at senior BJP leader L K Advani's residence which was attended by leaders of BJP and allies Sharad Yadav, Manohar Joshi, Anant Geete, Naresh Gujral and Shivanand Tiwari.
On the opening day tomorrow, Advani will move an adjournment motion on the issue of black money in the Lok Sabha and the NDA has decided to support the Left motion on price rise.
In escalation of confrontation, the NDA today decided to target home minister P Chidambaram by boycotting him and not allowing him to speak in Parliament, holding him also responsible for the 2G Scam.
In a sudden move, the BJP-led NDA demanded the resignation of Chidambaram, who was finance minister in UPA-I, and declared that they will boycott him till his resignation was accepted by the Prime Minister.
The NDA decision came on the eve of start of the Winter Session of Parliament at a meeting at senior BJP leader L K Advani's residence which was attended by leaders of BJP and allies Sharad Yadav, Manohar Joshi, Anant Geete, Naresh Gujral and Shivanand Tiwari.
On the opening day tomorrow, Advani will move an adjournment motion on the issue of black money in the Lok Sabha and the NDA has decided to support the Left motion on price rise.
Sunday 20 November 2011
Stock Trading Tips for 21 Nov 2011
Stock Trading Tips for 21 Nov 2011
| Scrip | Trigger | Price | Stop Loss | Target 1 |
|---|---|---|---|---|
| RELMEDIA | BUY ABOVE | 84 | 83 | 86 |
| SELL BELOW | 83 | 82 | 80 | |
| RIIL | BUY ABOVE | 366 | 363 | 376 |
| SELL BELOW | 359 | 362 | 349 |
Guidelines for Interest Subsidy Scheme for Housing the Urban Poor
Scheme of 1% interest subvention:
In order to stimulate demand for credit for housing in the middle, lower income segment of population in India. The central Government has proposed an interest subvention of 1% on all individual housing loans of upto Rs.15 lakh, provided the cost of the unit does not exceed Rs. 25 lakh will remain valid up to March 2012.
The Scheme recognizes that cut in interest rates has an important role to play in reducing EMIs (Equated Monthly Installments) of borrowers and creating additional demand for housing.
All regions of the States and Union Territories in India, including rural and urban areas will be covered under the Scheme.
Main Objective:
The objective of the Scheme is to provide interest subsidy on home loan as a measure to generate additional demand for credit and to improve affordability of housing to eligible borrowers in the middle, lower income groups.
The Scheme is expected to provide relief to prospective home owners and improve home ownership in the specified target segment.
Eligibility:
Interest subvention of 1% will be available on housing loans upto Rs. 15 lakh to individuals for construction/purchase of a new house or extension of an existing house, provided the cost of construction/price of the new house/extension does not exceed Rs. 25 lakh.
The scheme for 1% interest subsidy by union government on housing loans up to Rs 15 lakh will be available for the borrowers whose loans were sanctioned and disbursed from April this year (2011).
All such loans sanctioned and disbursed, during the period of one year from the date of publication of the Scheme shall be eligible for the said interest subsidy.
Duration of the Scheme:
Loans sanctioned and disbursed between October 1, 2009, and March 31, 2011, are outside the ambit of the new scheme.
‘Affordable Housing for All’ is an important policy agenda of the Government of India. The Government has sought to create an enabling and a supportive environment for expanding credit flow to the housing sector and increasing home ownership in the country. Various national policy pronouncements have reinforced the primacy of the housing sector and the need to provide shelter opportunities to all. A major initiative has been launched for provision of housing for the Economically Weaker Sections (EWS) and Low Income Groups (LIG) through the Jawaharlal Nehru National Urban Renewal Mission (JNNURM).
1 The Ministry of Housing and Urban Poverty Alleviation (MH&UPA), Government of India has designed an Interest Subsidy Scheme as an additional instrument for addressing the housing needs of the EWS/LIG segments in urban areas. The Scheme envisages the provision of interest subsidy to EWS and LIG segments to enable them to buy or construct houses.
2. BROAD FEATURES OF THE SCHEME
2.1 Purpose - The Scheme will provide home loan with Central Government subsidy to EWS/LIG persons for acquisition of house as also for construction of house to such beneficiary, who does not own a house in his/her name or in the name of his/her spouse or any dependent child. Such beneficiaries who own land in any urban area but do not have any pucca house in their name or in the name of their spouse or any dependent child will also be covered under the Scheme.
2.2 Eligibility - The economic parameter of EWS is defined as households having an average monthly income upto Rs.3,300 and the economic parameter of LIG is defined as households having an average monthly income between Rs.3,301 upto Rs.7,300. This will be subject to revision by the Steering Committee of the Scheme from time to time.
2.3 Loan amount admissible - The scheme will provide a subsidized loan for 15 – 20 years for a maximum amount of Rs.1,00,000 for an EWS individual
for a house at least of 25 sq.mts. Additional loans, if needed would be at unsubsidized rates.
2.4 A maximum loan amount of Rs.1,60,000 for a LIG individual for a house at least of 40 sq.mts will be admissible. However, subsidy will be given for loan amount upto Rs. 1 lakh only. Additional loans, if needed would be at unsubsidized rates.
Terms for Loan and Subsidy Reimbursement
2.5 The subsidy will be 5% p.a. on interest charged on the admissible loan amount for EWS and LIG, over the full period of the loan for construction or acquisition of a new house. The subsidy will be passed on as follows:-
2.5.1 The Net Present Value (NPV) of this subsidy will be arrived at on the basis of notional discount rate of 9% p.a., (equivalent to Government Security rate) for the period of the loan and on the interest chargeable at the time the loan is contracted.
2.5.2 Loan repayment periods will be permissible generally ranging from 15-20 years.
2.5.3 The Nodal agencies for the scheme will be the National Housing Bank (NHB) and Housing & Urban Development Corporation Ltd. (HUDCO). The nodal agencies will not lend directly to the borrower but through banks or Housing Finance Companies (HFCs) who agree to be part of the Scheme as the lenders. The NPV subsidy will be released by the Government to the nodal agencies on quarterly basis in advance based on the number of housing loans sanctioned by their lenders who join the scheme.
2.5.4 The NPV of the subsidy will be given by the Government to the lenders through its nodal agencies on upfront and quarterly basis. It will be passed on by the lender to the borrower by deducting the subsidy amount from the principal loan amount of the borrower and charging interest on the net amount of loan at the agreed rate of interest.
2.5.5 The agreed rate of interest would be fixed by the lending banks keeping in view the RBI guidelines for lending by banks for loans upto Rs. 2
3 ROLE OF THE STATE GOVERNMENTS/URBAN LOCAL BODIES (ULBS)
3.1 State Governments / ULBs will:
5.1.1 identify a local level nodal agency and inform MH&UPA of the nodal agency identified. Such local level nodal agency will identify, motivate and organize beneficiaries to seek loans for building or buying houses.
3.2 help local level nodal agency to identify and motivate beneficiaries who have land and are prepared to build for themselves including beneficiaries within urban limits of homestead schemes being implemented by the State Governments / ULBs. In identifying beneficiaries nodal agency/ULB will seek to follow a cluster approach, as also encourage and assist beneficiaries to form Group Housing Societies.
4 ROLE OF CENTRAL NODAL AGENCIES
4.1 The National Housing Bank (NHB) and Housing & Urban Development Corporation Ltd. (HUDCO) will be the Central Nodal Agencies (CNAs) for disbursement of the subsidy and monitoring the progress. NHB/HUDCO will enlist lending agencies with the approval of the Steering Committee who will disburse loans under the Scheme.
5 ROLE OF THE BANKS/HOUSING FINANCE INSTITUTIONS (HFIs)
5.1 Banks/Housing Finance Institutions (HFIs) i.e HFCs, MFIs etc. will have the option to avail the resources of either of the Nodal Agencies for the period of the Scheme.
5.2 Banks/HFIs will have to provide Utilisation/End use Certificate to NHB/ HUDCO on a half yearly basis.
6 EVALUATION AND MID-COURSE ADJUSTMENTS
A detailed review of provision of subsidy by PLIs to EWS & LIG beneficiaries will be undertaken by the Ministry through an external institution of repute after every 2 years. Such reviews are intended with a view to making mid-course adjustments and improvements in the implementation of the Interest Subsidy Scheme.
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