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Saturday, July 10, 2010

Planning your taxes

It’s been almost a month since the government cleared the Finance Bill 2010. Now that rules of the tax game are clear, it’s important for you to establish your tax planning strategy, which should essentially be linked to your medium- and long-term financial goals. As an early start gives you the edge of achieving the right balance between your investment growth and tax management, clearly, it is important to start right away. Here's how you can effectively plan your taxes for the Financial Year (FY) 2010-11.

Thermax, Reliance Power, State Bank of India, Media Sector

Thermax, Reliance Power, State Bank of India, Media Sector

Petronet LNG LTd

Petronet LNG

India Consumer - Health and Wellness

India Consumer - Health and Wellness

Weekly Wrap - July 10 2010

Weekly Wrap - July 10 2010



Weekly Technical Report - July 10 2010

Weekly Technical Report - July 10 2010

Weekly Report - July 10 2010

Weekly Report - July 10 2010

Weekly Calls - July 10 2010

Weekly Calls - July 10 2010

Monnet Ispat

Monnet Ispat

Earnings Preview - July 2010

Earnings Preview - July 2010

Annual Report - Dunlop - 2009-2010




Your Directors present the 83rd Annual Report of the Company together with
the audited accounts for the financial year ended 31st March, 2010.

Annual Report - 3M India - 2009-2010




Your Directors have pleasure in presenting to you their 23rd Annual Report
and Audited Accounts for the fifteen months period ended March 31,2010.

EU bank regulator to stress-test 91 banks

Europe's banking supervisor said that 91 banks will take part in the financial sector stress tests that will check their resilience to further market and credit risks. The Committee of European Banking Supervisors also laid out the key features included in the tests. "The exercise is being conducted on a bank-by-bank basis using commonly agreed macro-economic scenarios," the CEBS said. The scenarios would show a different impact on the various European Union member states, said CEBS. It also envisages adverse conditions in financial markets and a shock on interest rates to capture an increase in risk premium in bond markets, said London-based CEBS. The adverse scenario assumes a 3% decline in GDP from European Commission forecasts for 2010 and 2011, and tests for resilience to sovereign risk at a level beyond the market conditions experienced in early May 2010. The EU expects its economy to expand 1% this year and 1.75% in 2011. The scope of the tests was also extended to include shocks from sovereign debt defaults.

Volkswagen unveils Vento in India

Volkswagen, Europe’s largest car maker unveiled its new sedan the New Volkswagen Vento in New Delhi. The New Volkswagen Vento will be available with a petrol and diesel variant. The petrol variant is equipped with a 1.6 litre engine with an output of 105PS @ 5250 rpm and a Torque of 153NM @ 3800 rpm. The diesel variant is also equipped with the 1.6 litre engine with an output of 105PS @ 4400 rpm and a Torque of 250 NM @ 1500-2500 rpm. It will be available in two trim levels including Trendline, Highline. The petrol variant is paired with a 5-speed manual and a 6-speed automatic gear box and the diesel variant is paired with a 5-speed manual gearbox.

"For the Volkswagen Group, India is an important strategic growth market, as we continue to grow our volumes and market share in this automotive boom market with our brands Volkswagen, Audi and Skoda", Christian Klingler, Group Board Member for Sales and Marketing commented during the car presentation. In the first six months of 2010, the Group delivered 16,900 vehicles in India, showing an increase of more than 100% and therefore a higher growth than the overall market (+29%).

RelPower achieves financial closure for Krishnapatnam UMPP

Reliance Power Ltd., part of the Anil Dhirubhai Ambani Group (ADAG), achieved financial closure for its Krishnapatnam ultra-mega power project (UMPP) in Andhra Pradesh. Reliance Power said that the estimated cost of the project is Rs175bn. IDBI Bank was the lead arranger of the Rs131.25bn debt with Power Finance Corp acting as joint lead arranger. A consortium of over 15 banks and financial institutions are participating in the financing arrangements. The 4,000 MW coal-fired project is being financed in 75:25 debt-equity ratio, Reliance Power said. The project will supply power at a competitive levelised tariff of Rs2.33 per kilo-Watt-hour (or unit) to the four states - Andhra Pradesh (1,600 MW), Maharashtra (800 MW), Tamil Nadu (800 MW) and Karnataka (800 MW). "With the financial closure for the Krishnapatnam UMPP, we have completed the financing arrangements for two UMPPs awarded to us by the Government and have secured funding for a capacity of 10,000 MW," CEO JP Chalasani said. The company had earlier achieved financial closure of Sasan UMPP. Reliance Power has also bagged UMPP at Tilaiya. Under current Government regulation it cannot bid for another UMPP before completing work on at least one of these projects. The Chitrangi power project in Madhya Pradesh will be fourth 4,000 MW project for Reliance Power, but it does not have a UMPP status.

Right time to decontrol sugar: Sharad Pawar

This is the right time to decontrol India's sugar sector as production in India is all set to rebound, Agriculture Minister Sharad Pawar said. Pawar, who has recently taken over as the chief of the International Cricket Council (ICC), also said that the Government is actively considering imposing tax on sugar imports. The Government may end stock limits for bulk consumers of sugar, he said in New Delhi. "Sugar sector is heavily regulated. This is the time the millers and the Government should sit together to decide on easing restrictions on sugar sector," he told an industry conference in the capital. The Government sets the benchmark price for sugarcane and the monthly sales quota for mills, who are required to sell 20% of their production at below-market prices to the Centre for resale to the poor through fair price shops. Pawar did not provide a timeframe as to when the Government would end the controls. He also said that he expects a strong rebound in India's agriculture output, which will reduce food price inflation. Last year, India had suffered the country's worst drought in 37 years, hitting farm output. The flood situation in Punjab and Haryana, the main grain producing states is not serious, the Agriculture Minister said.

Rupee gains for second straight day

The Rupee extended its gains on Friday, as stocks continued to rally amid a global rebound in risky assets. The Indian currency also received a boost from strong economic prospects and rising interest rates, raising expectations of more capital inflows from foreign investors. Some dollar demand from the Haj pilgrimage committee for the annual religious pilgrimage prevented a sharp rise in the Rupee against the dollar, according to reports.

Food inflation dips, but fuel inflation jumps

Food inflation in India dropped further in the penultimate week of last month owing largely to high base effect but fuel prices surged after the Government decided to decontrol petrol prices and hiked prices of other petroleum products. Mineral prices also jumped in the week ended June 26, government data showed.

Weekly Stock Picks - July 10 2010


Buy Godrej Ind

Buy Tata Comm

Buy Hexaware

Buy HCL Tech

Weekly Newsletter - July 10 2010

After successfully lifting the NSE Nifty above 5350 on a closing basis, the big task ahead for the bulls is to sustain the buying momentum. Considering the buoyant economic and business climate prevailing in the country, that may not be too difficult. What's more, monsoon appears to be picking up and covered the entire nation nine days ahead of schedule. In fact, between July 1 and July 7, the actual rainfall was above the long period average, barring northeast India. Hopefully, the coming days will also witness healthy progress in monsoon.

DIPP floats discussion paper on FDI in multi-brand retail

Looks like the UPA is keen on pushing through key reforms that had been pushed to the backburner during the Congress-led coalition's previous five-year rule owing to stiff opposition from allies like the Left parties. Hot on the heels of announcing a partial deregulation in fuel prices, the Centre is now contemplating opening up the retail sector. The Department of Industrial Policy and Promotion (DIPP), which falls under the Commerce & Industry Ministry, is seeking comments from various stakeholders on whether FDI in multi-brand retail should be allowed or not. The paper, however, remains silent on the quantum of FDI cap. The draft paper had proposed 51% FDI in multi-brand retail.

"FDI in retail may be an efficient means of addressing the concerns of farmers and consumers. Opening FDI in retail could also assist in bringing technical know-how to set up efficient supply chains, which can act as models of development," the DIPP said in a discussion paper. "It would also assist in lowering consumer prices/inflation," the paper said. The Commerce Ministry has sought comments by July 31.

At present, FDI in multi-brand retail is banned in India. However, the Government allows 51% FDI in single brand retailing and 100% in wholesale trade. A financial newspaper reported last week that the DIPP has sought the views of the Finance Ministry and the Department of Consumer Affairs for amendments to the guidelines for FDI in wholesale trading.

IMF raises India's GDP growth forecast

The International Monetary Fund (IMF) raised its forecast for GDP growth in India to 9.5% from 8.8% in April but expects growth to decline slightly to 8.5% next year. "In India, growth is expected to accelerate to about 9.5% in 2010, as robust corporate profits and favourable financing conditions fuel investment, and then to settle to 8.5% in 2011," the IMF said in an update of its World Economic Outlook.

BSE Bulk Deals to Watch - July 10 2010

Deal Date Scrip Code Company Client Name Deal Type * Quantity Price **
9/7/2010 530513 Accurate Trans ALFA FISCAL SERVICES PVT LTD B 17144 119.51
9/7/2010 530513 Accurate Trans MANOJ DUA HUF B 15271 110.39
9/7/2010 530513 Accurate Trans DHEERAJKUMAR LOHIA B 15888 112.01
9/7/2010 530513 Accurate Trans KARISHMABEN ALPESHKUMAR SHAH B 15498 119.45

NSE Bulk Deals to Watch - July 10 2010

Date,Symbol,Security Name,Client Name,Buy/Sell,Quantity Traded,Trade Price / Wght. Avg. Price,Remarks
09-JUL-2010,BAGFILMS,B.A.G Films and Media Ltd,SAFFRON FINANCE LIMITED,BUY,1886521,16.48,-
09-JUL-2010,ENIL,Entertainment Network (In,CROSSEAS CAPITAL SERVICES PVT. LTD.,BUY,268062,206.35,-

Stock-specific action seen as Infy kicks off Q1 result season

Stocks may extend gains next week as companies start disclosing their results for the first quarter ended June 2010. Though a few results will start trickling from Monday, the real action will kick off with the Infosys earnings on Tuesday, 13 July 2010.