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Saturday, July 02, 2011

Annual Report - Infosys Technologies - 2010-2011




The members,

We are delighted to present the Report on our business and operations for
the year ended March 31, 2011.

1. Results of operations:
in Rs. crore,
except per share data
2011 2010

Income from software services and products 25,385 21,140

Software development expenses 14,267 11,559

Gross profit 11,118 9,581

Selling and marketing expenses 1,219 974

General and administration expenses 1,485 1,247

Operating profit before interest and
depreciation (PBIDTA) 8,414 7,360

Interest - -

Depreciation 740 807

Operating profit before tax 7,674 6,553

Other income, net 1,147 919

Net profit before tax and exceptional item 8,821 7,472

Provision for taxation 2,378 1,717

Net profit after tax and before
exceptional item 6,443 5,755

Income on sale of investments, net of taxes(1) - 48

Net profit after tax and after exceptional item 6,443 5,803

Profit and Loss account balance brought
forward 13,806 10,305

Amount available for appropriation 20,249 16,108

Interim 574 573

30th year special dividend-interim 1,722 -

Final 1,149 861

Total dividend 3,445 1,434

Dividend tax 568 240

Amount transferred to general Reserve 645 580

Amount transferred to capital Reserve - 48

Balance in Profit and Loss account 15,591 13,806

EPS before exceptional item (2)

Basic 112.26 100.37

Diluted 112.22 100.26

EPS after exceptional item (2)

Basic 112.26 101.22

Diluted 112.22 101.10

Indraprastha Gas

Indraprastha Gas

Capital Goods

Capital Goods

Insider Trades - July 1 2011

Insider Trades - July 1 2011

Top Picks - July 2 2011

Top Picks - July 2 2011

Tata Steel

Tata Steel

Weekly Report - July 2 2011

Weekly Report - July 2 2011

Hindustan Zinc

Hindustan Zinc

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Derivatives: Huge resistance is expected going ahead, while the downward bias is more

The domestic market rose in four of the last five trading days buoyed by the easing Greece debt worries and strong buying by the Foreign Institutional Investors (FII). The benchmark nifty rose by 176.15 points during the week till the expiry day as major shorts in the June series were aggressive covered, while fresh long position in the index and stock future were created. Although the volumes on Friday were thin, the position buildup in the Future & Options (F&O) July series do not look encouraging. Huge call writing was witnessed in the 5600 and up strike call option of the July series. Similarly out-of-the-money puts were aggressive bought on Friday. On Friday the market fell 20.20 points to close at 5627.20.



Weekly Stock Picks - July 2 2011


Buy LIC Housing Finance

Buy Bombay Dyeing

Buy Bharat Forge


Weekly Newsletter - July 2 2011

The Indian stock market rallied as FII inflows turned around and the Government hinted at getting on with key reforms with a belated fuel price hike. A string of encouraging economic statistics like drop in food inflation, contraction in current account deficit and improvement in core sector growth added fuel to the fire.

Softening crude oil prices, coupled with a growing confidence that Greece will avoid an imminent default also lent good support to the Indian markets.

India’s fiscal deficit at 31.7% of FY12 target

India’s fiscal deficit in the April to May period touched 31.7% of its target for the financial year 2011-12, data released by the Government showed. The budget gap stood at Rs. 130,726 crores at the end of May compared to the annual forecast of Rs. 412,817 crores, the Controller General of Accounts (CGA) said. Fiscal deficit at the end of April was Rs. 74,661 crores, or 18.1% of the FY12 projection. In April-May 2010, the fiscal deficit was Rs 1,00,907 crores or 26.5% of the Budget Estimate for that year. Revenue deficit for the first two months of FY12 was at Rs. 110,069 crores, or 35.8% of the annual projection for FY12. Revenue deficit was 29.4% in the year-ago period.

Revenue receipts in April-May were Rs 28,716 crores or 3.6% of the annual target of Rs 7,89,892 crores. Net tax revenue was Rs 23,103 crores in April-May or 3.5% of FY12 estimate of Rs 6,64,457 crores. Non-tax revenue in the first two months comprised 4.5% of the FY12 target of Rs 1,25,435 crores. The total expenditure was Rs 1,66,262 crores or 13.2% of the BE of Rs 1,257,729 crores.

Current account deficit shrinks in Q4 FY11

India's current account deficit (CAD) for the January to March quarter has been lower as against the earlier quarters of FY12 as well as compared to the corresponding quarter of the previous year, the Reserve Bank of India (RBI) said. The CAD narrowed to US$5.4bn in the three months ended March 31, 2011 from a revised US$10bn in the previous quarter (October to December), the central bank said.

India's infrastructure sector growth improves MoM

Combined output of India's new-look infrastructure sector increased in May from last month despite disappointing performance of Coal, Natural Gas and Cement sub-segments. The index of eight core sector industries, having a combined weight of 37.90% in the Index of Industrial Production (IIP), grew by 5.3% compared to 4.6% in April. The infrastructure sector growth stood at 7.4% in May 2010. During April-May 2011-12, the eight core sector industries registered a growth of 4.9% as against 7.9% during the corresponding period of the previous financial year. The overall index level was at 142.45 in May as against 135.26 in the same month last year. The index stood at 137.88 in April and 154.92 in March.

Food inflation slides below 8%

The annual rate of inflation in the food space decreased in the third week of June, data released by the Government showed. But, inflation in the Fuel & Power space inched higher, the data revealed. Annual inflation in the Food Articles space fell to 7.78% in the week ended June 18 from 9.13% in the previous week, the Commerce & Industry Ministry said. Food inflation was at 20.12% in the year-ago period. Inflation in the Primary Articles group decreased to 11.84% in the week under consideration from 12.62% in the week ended June 11, according to the Commerce Ministry statement. Inflation in the Primary Articles space was at 19.58% in the comparable period last year.

India Strategy - July 2 2011

India Strategy - July 2 2011

Hindustan Unilever

Hindustan Unilever

LIC Housing Finance

LIC Housing Finance