The Carlyle Group acquires 9% stake in IIFL

India Infoline Group (IIFL) announced that one of the largest global alternative asset managers The Carlyle Group (Carlyle) has acquired a 9% stake in India Infoline Ltd, the flagship company of IIFL, through secondary market purchase of equity shares. Carlyle becomes a key institutional shareholder in IIFL and will be invited to join IIFL’s Board of Directors to support its future development, subject to necessary approvals. The acquisition cost is not disclosed. The investment was made by Carlyle Mauritius Investment Advisors Limited, a part of Carlyle Asia Partners (CAP), one of the largest private equity investors in Asia since 1998. CAP has five major investments in the financial services industry in the region encompassing banking, insurance and housing finance businesses, including HDFC in India. Financial services is a core industry focus at Carlyle, where the firm has made an equity commitment of more than US$2 bn in Asian financial services businesses. In addition, Carlyle has a significant commitment to India and has had a presence in India since 2000. Carlyle’s broad experience in Asia and internationally will bring added value to the growth at IIFL.

Indiainfoline NCDs open for subscription

The NCDs proposed under this Issue have been rated ‘[ICRA]AA- (stable)’ by ICRA, and ‘CARE AA-' by CARE.

There are three investment options.

Option I (Annual interest payment): The redemption date or maturity period is 36 months from the deemed date of allotment and the coupon rate is 11.7% p.a. The interest payment is annual and the face value plus any interest that may have accrued is payable on redemption.

Option II:. NCDs will be redeemed at Rs 1,446 at the end of 40 months from the deemed date of allotment with an effective yield of 11.70% per anum.

Option III (Annual interest payment): The redemption date or maturity period is 60 months from the deemed date of allotment. The coupon rate is 11.9% per annum for Category III investors and 11.7% per annum for others. The interest payment is annual and the face value plus any interest that may have accrued is payable on redemption.

Wipro, Colgate, Indiainfoline, India Economy

Wipro, Colgate, Indiainfoline, India Economy

ABB, Bharti Airtel, ICICI Bank, Andhra Bank, Madhucon Projects, BGR Energy Systems, Unity Infraprojects, JBF Industries, SAIL, Indiainfoline, SAIL

ABB, Bharti Airtel, ICICI Bank, Andhra Bank, Madhucon Projects, BGR Energy Systems, Unity Infraprojects, JBF Industries, SAIL, Indiainfoline, SAIL, Piramal Glass

Bharti Airtel, Biocon, Concor, Dena Bank, Indiainfoline, Indoco Remedies, Maruti Suzuki

Bharti Airtel, Biocon, Concor, Dena Bank, Indiainfoline, Indoco Remedies, Maruti Suzuki

Indiainfoline

Indiainfoline

Indiainfoline

Indiainfoline

Annual Report - India Infoline - 2008-2009

INDIA INFOLINE LIMITED

ANNUAL REPORT 2008-2009

DIRECTOR'S REPORT

To
The Members

Your Directors have pleasure in presenting the 14th Annual Report along
with the audited statements of accounts of your Company for the financial
year ended March 31, 2009.

I. Financial results:

A snapshot of the financial performance of your Company and its major
subsidiaries for the financial year 2008-09 is as under:

(Rs. mn)

Revenues Profit before Profit after
interest, tax
depreciation
and tax

India Infoline Limited 5,716.0 1,848.8 1,058.2

India Infoline Investment
Services Limited 1,574.0 1,042.0 630.2

India Infoline Marketing
Services Limited 880.4 49.6 (7.8)

Moneyline Credit Limited 803.6 256.4 59.9

India Infoline Insurance
Services Limited 416.1 72.7 9.2

India Infoline Commodities
Limited 228.5 23.7 18.3

IIFL Wealth Management
Limited 144.4 (37.3) (21.8)

India Infoline Insurance
Brokers Limited 75.3 8.6 5.5

IIFL Inc 23.0 (20.3) (20.4)

IIFL (Asia) Pte Limited 23.0 (105.6) (107.9)

India Infoline Media and
Research Services Limited 17.2 0.4 0.1

IIFL Realty Limited 5.7 4.2 (1.3)

India Infoline Housing
Finance Limited 5.2 3.3 0.8

India Infoline
Distribution Company Limited 0.7 0.6 0.2

IIFL Capital Limited - 0.0 0.0

IIFL Ventures Limited - (0.6) (0.6)

India Infoline Commodities
DMCC - (7.9) (8.3)

Inter-company adjustments (282.2) (216) (40.9)

Aggregate 9,630.9 2,922.6 1,573.4

A snapshot of the stand-alone financial performance of India Infoline
Limited is as under:

(Rs. mn)

2008-2009 2007-2008

Gross total income 5,716.0 6,724.4

Profit before interest, depreciation
and taxation 1,848.8 2,772.5

Interest and financial charges 78.5 211.6

Depreciation 255.6 194.4

Profit before tax 1,514.7 2,366.5

Taxation - Current 480.8 793.4

- Deferred (12.3) (20.3)

- Fringe benefit tax 10.3 10.9

- Short or excess provision of income tax (22.3) 5.3

Net profit for the year 1,058.2 1,577.2

Less: Extraordinary items (net of tax) - (290.4)

Less: Appropriations:

Interim dividend 794.5 -

Final dividend - 342.6

Dividend distribution tax 135.0 58.2

Transfer to general reserve 105.8 131.0

Add: Balance brought forward from the
previous year 1,229.1 474.1

Balance to be carried forward 1,252.0 1,229.1

A snapshot of the consolidated financial performance is as under:

(Rs. mn)

2008-2009 2007-2008

Gross Total Income 9,630.9 10,235.9

Profit Before Interest, Depreciation
and Taxation 2,922.7 4,022.2

Interest and Financial Charges 331.8 912.6

Depreciation 396.0 282.0

Profit Before Tax 2,194.9 2,827.6

Taxation - Current 653.7 948.3

- Deferred (30.9) (82.3)

- Fringe Benefit Tax 27.9 25.1

- Short or excess provision of Income-Tax (29.2) 6.9

Net Profit for the year 1,573.4 1,929.6

Less: Extraordinary items (Net of tax) - (290.4)

Net profit before minority interest 1,573.4 1,639.2

Less : Minority Interest (125.2) (40.4)

Less: Appropriations:

Interim dividend 794.5 -

Proposed final dividend - 342.6

Dividend distribution tax 135.0 58.2

Transfer to general reserve 105.8 131.0

Transfer to special reserve 139.0 63.2

Add: Balance brought forward from
previous year 1,813.3 809.5

Balance to be carried forward 2,087.2 1,813.3

CLICK on the READ MORE link to VIEW FULL REPORT

Indiainfoline

We recommend a buy in India Infoline from a short-term trading perspective. It is apparent from the charts of India Infoline that in early March of this year it took support at Rs 40, a significant long-term support level. Subsequently, the stock changed trend and began to rally, breaching the 21- and 50-day moving averages. Since March low, the stock has been on a medium-term uptrend. It conclusively penetrated the long-term moving average (200-day) in early May and is trading well above this average. We notice that this medium-term uptrend is backed by good volume. The daily relative strength index (RSI) is featuring in the bullish zone and the weekly RSI has entered this zone. Taking into consideration that the medium-term uptrend line is intact, we are bullish on the stock from a short-term perspective. We anticipate the stock to move up until it hits our price target of Rs 105 during the approaching trading session. Traders with short-term trading perspective can buy the stock while maintaining a stop-loss at Rs 89.

Infosys Technologies, Tata Motors, India Infoline, Strategy, Crompton Greaves

Infosys Technologies, Tata Motors, India Infoline, Strategy, Crompton Greaves

IndiaInfoline, India Property Sector

IndiaInfoline, India Property Sector

HDFC, Satyam Computers, Indian Bank, Ultratech Cement, Mphasis BFL, Jubilant Organosys, Federal Bank, Biocon, India Infoline, Tata Steel, Dish TV

Your Ad Here

HDFC, Satyam Computers, Indian Bank, Ultratech Cement, Mphasis BFL, Jubilant Organosys, Federal Bank, Biocon, India Infoline, Tata Steel, Dish TV

India Infoline

India Infoline

ABB, Siemens, Ambuja Cements, Areva, Cipla, Indiainfoline, TV18

ABB, Siemens, Ambuja Cements, Areva, Cipla, Indiainfoline, TV18

Everonn Systems, Indiainfoline, Greenply

Everonn Systems, Indiainfoline, Greenply

Axis Bank, Shree Cement, Telecom, Maruti Suzuki, Indiainfoline, iGate, Construction

Axis Bank, Shree Cement, Telecom, Maruti Suzuki, Indiainfoline, iGate, Construction

Indiainfoline

Indiainfoline

Mahindra and Mahindra, Indiainfoline, Godrej Consumer, Economy

Mahindra and Mahindra, Indiainfoline, Godrej Consumer, Economy

Nalco, Sun TV, Indiainfoline, Castrol India, TVS Motors, Godrej

Nalco, Sun TV, Indiainfoline, Castrol India, TVS Motors, Godrej

Enjoy what you have

It is not how much we have, but how much we enjoy, that makes happiness.

Suddenly the worst seems to be over for the day. We can't take a two day call these days. The storm (kicked up by the slump in US housing market) seems to have subsided for now. Global markets have recovered smartly in recent times thanks largely to the Fed cutting its discount rates and expectations of a further reduction in September. The resumption of the yen carry trade is another good sign for the bulls. Remember, it doesn't take too long for sentiment to change in the forex markets. Unless another bombshell springs up from some corner of the world, we will have stability across global markets with a positive bias. Keep a close watch on the US economy's health for any further clue on global market trends. Another rate cut from the Fed will be a bonus.

Spurred by a strong closing on Wall Street and in other main markets Asian markets have opened on a firm note. Expect a gap-up opening on local bourses as well.

But, the uncertainty over the fate of the current Government could linger on for a while and could potentially tie the bulls down despite the improvement in the global markets. This again will come in only when statements are made or rumors are spread. Be prepared for knee jerk reactions and bounce backs. The F&O expiry on Thursday may make markets volatile. And, don't forget the FIIs are still selling. For the key indices to hit previous all-time highs, this category of investors have to resume their shopping spree.

Shares of Take Solutions will get listed today. Punjab Chemicals could be in action today as it is likely to announce an acquisition of Dutch company Pegevo Beheer BV. Another stock that could gain is Moser Baer amid reports that it is planning to list its subsidiary Moser Baer Photovoltaic in the US.

Airlines such as Deccan Aviation and SpiceJet are expected to be in the spotlight as a financial daily reports that the Government might relax the current regulations pertaining to launching overseas operations. NIIT Technologies is also likely to attract attention amid reports of stake sale.

SBI is expected to hog the limelight as it has decided to merge State Bank of Saurashtra with itself. Deep Industries is another counter where some buying is expected. Reliance Industries could gain initially on reports that it is entering the construction business. Read - RIL ventures into construction business...

Northgate Technologies has set up a subsidiary called Social Media India Ltd., to tap the online advertising and other internet transaction services industry.

Kothari Products has approved the proposed demerger of Pan Masala Division, Beverages Division and Trading Division into Pan Parag India.

Prakash Industries has approved the issue of 55,55,556 warrants convertible into equity shares to Barclays Capital Mauritius. Price of Rs80 per warrant has been calculated as per the SEBI Guidelines.

ANG Auto, Kalpataru Power, Lokesh Machines and Micro Technologies will announce their results today.

Stronger-than-expected readings on the economy, including July new home sales, sent US stocks higher on Friday, yet gains were limited by higher oil prices and ongoing worries about the tightening credit markets.

For the week, the Standard & Poor's 500 Index advanced 2.3% to 1,479.37, the steepest gain since March. The Dow Jones Industrial Average rose 2.3% to 13,378.87. The Nasdaq Composite Index climbed 2.9% to 2,576.69.

US stocks started the day with small losses, before turning higher following the release of the housing report. July new home sales rose 2.8% to an 870,000 annual sales pace, beating forecasts for a drop to 825,000. In addition, the reading on June new home sales was revised upward.

Another report showed that July durable goods orders jumped 5.9%, easily topping economists' forecasts for a rise of 1.4%.

Treasury prices rose, lowering the yield on the 10-year note to 4.62% from about 4.64% late on Thursday. In currency trading, the dollar slipped versus the euro and the yen.

US light crude oil for October delivery rose $1.02 to $70.85 a barrel on the New York Mercantile Exchange. COMEX gold rose $3.60 to $672 an ounce.

European shares closed out a successful week on Friday with their sixth straight advance, with metals and oils producers getting a bounce from unexpectedly strong US economic data.

The pan-European Dow Jones Stoxx 600 index ended 0.3% higher at 370.52. The UK's FTSE 100 rose 0.4% to 6,220.10 and the French CAC 40 gained 0.8% at 5,569.38. The German DAX 30 declined 0.1% to 7,507.27.

In the emerging markets, the Bovespa in Brazil rose 2.2% to 52,998 while the RTS index in Russia was flat at 1864 and the ISE National 30 index in Turkey fell 1.4% to 58,499.

Most Asian markets were trading higher this morning. The Nikkei in Tokyo was up 172 points to 16,421 while the Hang Seng in Hong Kong gained 460 points to 23,382. The Kospi in Seoul was up 27 points at 1818 while the Straits Times in Singapore advanced 44 points to 3413.

The Morgan Stanley Capital International Asia-Pacific Index added 1.1% to 149.86 as of 10:45 a.m. in Tokyo, set for its highest close since Aug. 9. The index jumped 8.1% in the five days ended Aug. 24, the best performance since March 2002 and its first advance in five weeks.

Benchmarks advanced in other markets open for trading.

After witnessing high volatile session in the previous day bulls managed to stage a strong come back ignoring political uncertainties and weak global cues. BSE Metal, Auto and Capital Good stocks led from the front and even the Mid-Cap and the Small Cap indices aided strong support. RIL, BHEL, SBI and L&T were the leading movers among the 30-scripas of Sensex. Finally, the BSE 30-share Sensex closed at 14,424 surging 260 points. NSE Nifty gained 75 points to close at 4190.

Tata power slipped by 0.3% to Rs679 after S&P lowered rating on the company. The scrip touched an intra-day high of Rs686 and a low of Rs672 and recorded volumes of over 3,00,000 shares on NSE.

Reliance Industries gained by 1.8% to Rs1776 after India's biggest company by market value proposed building an oil refinery and other petroleum facilities in Egypt valued at $10bn. The scrip touched an intra-day high of Rs1782 and a low of Rs1742 and recorded volumes of over 16,00,000 shares on NSE.

Tata Steel advanced by 4% to Rs582 following reports that world's sixth- largest steelmaker and Essar Steel Holdings Ltd. are among seven companies shortlisted by Egypt's government to build a $3bn steel and billet plant. The scrip touched an intra-day high of Rs587 and a low of Rs560 and recorded volumes of over 17,00,000 shares on NSE.

Gujarat State Petronet surged by over 3% to Rs55 after the company announced that they would sell 22mn shares to IFC at Rs57.29. The scrip touched an intra-day high of Rs57 and a low of Rs53 and recorded volumes of over 4,00,000 shares on NSE.

MTNL jumped by over 3% to Rs134 following news reports that the company has won tax disputes; it may get Rs11bn Tax refund. The scrip touched an intra-day high of Rs137 and a low of Rs130 and recorded volumes of over 17,00,000 shares on NSE.

ICSA India rallied 9% to Rs1565 after the company announced that they would consider stock split on August 30 and also yesterday secured order worth Rs186mn. The scrip touched an intra-day high of Rs1581 and a low of Rs1440 and recorded volumes of over 48,000 shares on NSE.

Auto stocks were in top gear. Tata Motors surged by over 5.8%to Rs656, Maruti surged by 2% to Rs790, M&M was up by 3% to Rs640 and TVS motors added 1.7% to Rs57.

IT stocks gained momentum towards the end. Satyam Computer advanced by 3.3% to Rs436, Rolta was up by 2.5% to Rs434 and Moser Baer added 2.4% to Rs271 and Infosys was up by 0.8% to Rs1825

Fertilizer stocks bounced back after being on the receiving end in the previous trading session. Chambal Fertilizer surged by over 4.5% to Rs46, Deepak Fertilizer gained by 7% to Rs101 and GNFC added 1%to Rs121.

Metal stocks shinned brightly led by gains in the heavyweight JSW Steel surged by 10% to Rs571, Hindalco was up by 2% to Rs142 and Sterlite Industries added 2% to Rs578.

Select Realty stocks were on the receiving end. Sobha slipped by 0.6% to Rs741. However, Unitech gained 0.7% to Rs456, DLF gained 1% to Rs565 and Akruti rose 6.9%to Rs507.

Auto stocks gained momentum in this week led by Tata Motors, the scrip was up by 2.5% to Rs656 and Maruti gained by 1.5% to Rs790, TVS Motors rose 3.6% to Rs57 and Ashok Leyland added 0.5% to Rs35.

Cement stocks were in limelight during the week. Ambuja Cement rose over 7% to Rs135, ACC jumped by over 6% to Rs1010, Prism Cement added 1.3% to Rs54 and Grasim was up 1% to Rs2771.

Fund Activity:

FIIs were net sellers of Rs2.75bn (provisional) in the cash segment on Friday and the local institutions pumped in Rs4bn. In the F&O segment, FIIs were net sellers at Rs5.2bn. On Thursday, foreign funds pumped in Rs3.3bn in the cash segment. Mutual Funds were net buyers at Rs3.09bn on the same day.

Major Bulk Deals:

Reliance Capital has bought Asian Granito; Reliance Long Term MF has picked up Essel Propac; UBS Securities has purchased IOL Broadband.

Insider Trades:

Kesoram Industries Ltd: SBI Mutual Fund under its various schemes has purchased from open market 17957 equity shares of the company on 21st August, 2007.

Euro Ceramics Limited: Bear, Stearns & Co. A/c BSMA Limited has purchased from open market 300000 equity shares of the company on 22nd August, 2007.

Lower Circuit:

IOL Broadband and Era Construction.

Upper Circuit:

Etc Networks, Ganesh Forgings, Kothari Products, Balasore Alloys, Vyapar Industries and Flawless Diamond

Delivery Delight (Rising Price & Rising Delivery):

BPCL, Bharti Airtel, Gokaldas Exports, Hindustan Construction, Maruti and Sintex Industries.

Abnormal Delivery:

Bharati Shipyard, Pantaloon, Grasim, Rajesh Exports, BEL and VSNL.

Major News & Announcements:

Inflation for the week ended Aug. 11 was 4.1% vs expectation of 4.05%

Sical Logistics signs agreement with Mihan Road Terminal

ICSA to consider stock split on August 30

MTNL wins tax disputes - Reports

S&P lowers rating on Tata power

L&T plans to raise $700mn selling securities

Gujarat State Petronet to sell 22mn shares to IFC at Rs57.29