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Sunday, March 25, 2012
New iPad sales cross 3mn: Apple
Apple announced it has sold three million of its incredible new iPad, since its launch on Friday, March 16. The new iPad features a stunning new Retina display, Apple’s new A5X chip with quad-core graphics, a 5 megapixel iSight camera with advanced optics for capturing amazing photos and 1080p HD video, and still delivers the same all-day 10 hour battery life* while remaining amazingly thin and light. iPad Wi-Fi + 4G supports ultrafast 4G LTE networks in the US and Canada, and fast networks around the world including those based on HSPA+ and DC-HSDPA. "The new iPad is a blockbuster with three million sold?the strongest iPad launch yet," said Philip Schiller, Apple’s senior vice president of Worldwide Marketing. "Customers are loving the incredible new features of iPad, including the stunning Retina display, and we can't wait to get it into the hands of even more customers around the world this Friday."
The new iPad is already available in the US, Australia, Canada, France, Germany, Hong Kong, Japan, Puerto Rico, Singapore, Switzerland, UK and the US Virgin Islands and will be available in 24 more countries starting at 8:00 a.m. local time on Friday, March 23 through the Apple Online Store (www.apple.com), Apple’s retail stores and select Apple Authorized Resellers, including Austria, Belgium, Bulgaria, Czech Republic, Denmark, Finland, Greece, Hungary, Iceland, Ireland, Italy, Liechtenstein, Luxembourg, Macau, Mexico, The Netherlands, New Zealand, Norway, Poland, Portugal, Romania, Slovakia, Slovenia, Spain and Sweden.
The new iPad Wi-Fi models are available in black or white for a suggested retail price of US$499 (US) for the 16GB model, US$599 (US) for the 32GB model, US$699 (US) for the 64GB model. iPad Wi-Fi + 4G for either AT&T or Verizon is available for a suggested retail price of US$629 (US) for the 16GB model, US$729 (US) for the 32GB model and US$829 (US) for the 64GB model. iPad is sold in the US through the Apple Online Store (www.apple.com), Apple’s retail stores and select Apple Authorized Resellers. Additionally, the incredible iPad 2 is now offered at a more affordable price of US$399 (US) for the 16GB Wi-Fi model and just US$529 (US) for the 16GB Wi-Fi + 3G model.
Weekly Stock Picks - March 25 2012
Buy Tata Coffee
Buy BGR Energy
Buy Reliance Capital
Buy Wipro
Buy Hindalco
Weekly Newsletter - March 25 2012
The win-loss score line for the Indian market now stands at 7 to 5. The strong momentum that one saw early in the year has clearly subsided now post the big events of March. It looks like market players are resigned to another grinding year ahead with no clear bias. At the same time, there is no dearth of headwinds at the moment. It will take a while for these uncertainties to abate.
As far as India is concerned the two big worries are sticky crude oil and persistent policy inertia at the Centre. Even the RBI is waiting for these two variables to sort of ease a wee bit before it starts slashing rates. Estimates of potential quantum of rate cuts by the RBI have been scaled back after the Budget.
All eyes are on the Government’s economic managers to see whether they are able to take the requisite decisions to pump-prime the domestic economy.
On the global front, market participants are increasingly worried about the situation in China even as concerns prevail over the sorry state of the eurozone.
CAG admits to existence of ‘draft report’ on coal blocks
India’s Comptroller and Auditor General (CAG) Vinod Rai said that a "draft report" on the coal mining scam actually existed, reports said. The final report by the CAG would be submitted in a month and would quantify losses, reports added. Providing some relief to the Government on the coal auction issue raked in Parliament on Thursday, India’s Comptroller and Auditor General (CAG) Vinod Rai told Prime Minister Manmohan Singh that the details in a newspaper report on matter were "exceedingly misleading". Media reports on Thursday stated that the CAG’s draft report on the ‘Performance Audit of Coal Block and Allocations’ revealed that 155 coal blocks were allotted to private companies without auction between 2004 and 2009 which caused the exchequer a loss of Rs. 10.7tn. About 100 companies, including private entities and public utilities in industries such as power, steel and cement benefitted from move, reports said. In a letter to the PM, the CAG said that the details in the news report were observations under discussion at a very preliminary stage and do not even constitute a pre-final draft, according to a recent statement issued on the CAG website. Also, the CAG cited a "change in thinking" over how to compute loss to the exchequer, pegged at Rs. 10.7tn in media reports. Reports said citing a CAG official that the figure was expected to qualify as gains to the companies and not loss to the exchequer. This statement would hold truth as the government did not receive any revenue or profit share or even licence fee on blocks allotted to entities. Interestingly, PM Manmohan Singh was in charge of the Coal Ministry for part of the period mentioned. Meanwhile, the government is trying to turn the guns on the BJP government as about 40 coal blocks were already auctioned before the UPA regime between 1993 and 2004.
Thursday, March 22, 2012
NBCC Grey Market Premiums
Company Name | Offer Price (Rs.) | Premium (Rs.) | Kostak (Rs. 1 Lac Application) | Kostak (Rs. 2 Lac Application) | Kostak (Rs. 5 Lac Application) |
REC | 1000 | 1 to 1.50 (Seller) | -- | -- | -- |
Olympic Cards Ltd. | 30 (Flore Price) | 0.50 to 1 (Seller) | -- | -- | -- |
NBCC | 90 to 106 | 15 to 16 (Buyer) | -- | -- | -- |
Muthoot Finance welcomes measures taken by RBI
Reserve Bank of India has issued Circular No.RBI/2011-12/467 DNBS.CC.PD.No.265/03.10.01/2011-12 dated March 21, 2012 to all NBFCs titled “Lending Against Security Of Single Product - Gold Jewellery”.
This circular is applicable to Muthoot Finance Ltd. On account of this, Company wish to make the following clarifications:
It is stipulated that NBFCs primarily engaged in lending against gold jewellery (such loans comprising 50 percent or more of their financial assets) shall maintain a minimum Tier l capital of 12 percent by April 01, 2014. Muthoot Finance Ltd as on December 31, 2011 had a Tier 1 capital of 13.37%. Moreover, the amended regulation provides time till April 01, 2014 to achieve the level of 12%.
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