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Monday, June 27, 2011
Daily News Roundup - June 27 2011
Emami is getting ready for making a foray into food and beverage segment by testing waters with a glucose-based drink, thereby joining the league of GlaxoSmithKline and Rasna to energise the Rs6bn glucose drink market. (ET)
Emami is in talks with Reckitt Benckiser to buy the personal care business of Paras Healthcare for an estimated deal size of up to Rs 9bn. (FE)
Looking to diversify into power generation, REC plans to set up renewable energy projects entailing an investment of about Rs28bn crore in the next five years. (ET)
Sensex shoots past 18k...Nifty ends above 5400
The Indian equities galloped on Friday, with the BSE Sensex surging by over 500 points and the NSE Nifty cracking a solid century. The Sensex closed above 18,000, while the Nifty is within striking distance of 5500.
Although the Large-Cap shares paced the rise today, the non-index stocks too joined the party after being subdued over the past few sessions. As a result, the market breadth was very strong.
Another heartening aspect of the rally was that the traded volumes and turnover both improved substantially compared to the lackluster trading seen in the recent history.
Tolerance and courage!
The test of courage comes when we are in the minority. The test of tolerance comes when we are in the majority. - Ralph W. Sockman.
After 12 long months, the Government has finally mustered up some courage and hiked fuel prices. It also announced a recast of duties to mitigate the impact on consumers. While state-run oil companies will get some relief in the short term, the Centre’s revenues will be hit owing to the duty rejig. The overall picture on subsidies is still gloomy. Inflation will spike over the next few weeks. That, in turn will prompt the RBI to jack up rates further in maybe in July. Keep an eye on crude, which has corrected a bit lately.
Sunday, June 26, 2011
Saturday, June 25, 2011
Annual Report - LIC Housing Finance - 2010-11
LIC HOUSING FINANCE LIMITED
ANNUAL REPORT 2010-2011
DIRECTOR'S REPORT
To
The members of
LIC Housing Finance Limited.
The Directors have great pleasure in presenting the Twenty Second Annual
Report together with the audited accounts for the year ended 31st March,
2011.
Financial results:
The Profit and Loss Account shows a profit before tax of Rs.1294.16 crore
after writing off bad debts of Rs.0.63 crore and considering the amount
recovered of Rs.6.69 crore out of earlier write off and taking into account
all expenses, including depreciation and prior period items. The provision
for income tax (net of deferred tax) is Rs.319.67 crore and the profit
after tax for the year is Rs. 974.49 crore.
Taking into account the balance of Rs.361.40 crore being brought forward
from the previous year, the distributable profit is Rs.1335.89 crore.
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Annual Report - Canara Bank - 2010-2011
CANARA BANK
ANNUAL REPORT 2010-2011
DIRECTOR'S REPORT
DIRECTORS' REPORT: 2010-11:
The Board of Directors have pleasure in presenting the 42nd Annual Report
together with the Balance Sheet as on 31st March, 2011 and Profit and Loss
Account for the financial year ended March 31, 2011.
MANAGEMENT DISCUSSION AND ANALYSIS:
I. ECONOMIC ENVIRONMENT:
Global economic activity has recovered slowly but steadily in 2010-11 after
the sharp deceleration of growth in 2008 and the contraction in 2009. The
global economy is now in dual speed recovery process with advanced
economies growing slowly/stagnating and the developing economies, on the
other hand, experiencing stronger growth.
The Indian economy is one of the fastest growing economies in the global
growth process, with the GDP growth back to its pre-crisis growth
trajectory, aided by expansion in agriculture, industry and the service
sectors and positive momentum in savings and investment rates. As per the
revised estimates released by the Central Statistical Organization (CSO),
the Indian economy grew by 8.5% in 2010-11 vis-a-vis a 8% growth in the
previous fiscal.
The growth has been broad-based with agriculture sector growing by a
significant 6.6% (0.4%) for FY11 and the industrial and the service sectors
grew by 7.9% (8.0%) and 9.4% (10.1%) respectively. Savings and investment
rates for 2010-11 is likely to be at 34% and 37% respectively.
Inflation was a primary concern among the policy makers during 2010-11.
Inflation, which remained at elevated levels for a large part of FY11, was
largely driven by food and fuel items and later on transmitted to
manufacturing products to become a general phenomenon. The monthly
wholesale price inflation stood at 8.98% in March 2011 compared to 10.23%
in the corresponding month a year ago.
Growth in the industrial sector was buoyant during the first half of FY11.
The manufacturing sector grew at a robust rate of 12.7% and 10% in the
first two quarters of 2010-11 respectively. Thereafter, industrial output
growth started moderating. Index of industrial production (IIP) registered
a 7.8% growth for the financial year 2010-11 as against a growth of 10.5% a
year ago.
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Annual Report - Biocon - 2010-2011
BIOCON LIMITED
ANNUAL REPORT 2010-2011
DIRECTOR'S REPORT
Dear Shareholders,
We are pleased to present Thirty-third Annual Report on business and
operations together with the audited financial statements and the auditor's
report of your company for the financial year ended 31st March 2011.
Annual Directors Report - Reliance Industries - 2010-11
RELIANCE INDUSTRIES LIMITED
ANNUAL REPORT 2010-2011
DIRECTOR'S REPORT
Dear Shareholders,
Your Directors are pleased to present the 37th Annual Report and the
audited accounts for the financial year ended March 31, 2011.
Financial Results:
The financial performance of the Company, for the year ended March 31, 2011
is summarised below:
Grey Market Premiums - June 25 2011
| Company Name | Offer Price (Rs.) | Premium (Rs.) |
| Vaswani Ind. | 49 | 5 to 7 |
| Birla Pacific Medspa | 10 to 11 | 0.30 to 0.45 (Paisa) |
| Rushil Decor | 63 to 72 | 4 to 4.50 |
| Ready Made Steel | 98 to 108 | 6 to 8 |
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