Wipro announced little better than expected results and and stocks soared because of that , the Company has posted a net profit of Rs. 10639 million for the quarter ended December 31, 2011 as compared to Rs. 12239 million for the quarter ended December 31, 2010. Total Income has increased from Rs. 67876 million for the quarter ended December 31, 2010 to Rs. 85156 million for the quarter ended December 31, 2011. revenue in the third quarter was up 28% from a year ago to Rs 9,997 crore.Net profit for October-December rose 10% year-on-year to Rs 1,456 crore.

Wipro 20122 December Quarter Results.

Wipro Announces Quarter Ended December 2011 Results is a post from: First Blog for Indian Financial Market

Reliance Telecom is planning to raise more than 7600 crore may be to put it in dollars 1.5 million dollars but not here in inidan market but in a Singapore listing , its planning to list its submarine cable assets, said a person with knowledge of the matter.This is their in all the news now ,they are planning to sell 75 per cent of Reliance Globalcom Ltd’s Flag Telecom unit in the first half of this year in an initial public offering (IPO) , which would the valuation of the company up to $2 billion, One more thing is Flag Telecom would be listed as a so-called business trust.

Reliance Communication is planning for Flag Telecom IPO – Reliance Globalcom ipo is a post from: First Blog for Indian Financial Market

Highest Paid Deposit As on January 2012 -Senior Citizen and Normal Rate

Highest Paid Deposit As on January 2012 -Senior Citizen and Normal Rate is a post from: First Blog for Indian Financial Market

Indian Market was down by more than 300 points , Intense selling was seen across all sector , supported by weak cues from global markets mainly european market now . All the sectoral indices were in the negative territory with realty, metals and banks the major under-performing sectors.The European markets opened almost 3 Percent low because of fears of eurozone debt crisis. There are reports that Greece would miss a deficit target set a few months ago.

The 30-share BSE Sensex fell 318.69 points to 16,135.07, and the 50-share NSE Nifty slipped 97.05 points to 4,846.20.

Market down by more than 300 points is a post from: First Blog for Indian Financial Market

Inflation data was released yesterday and the food inflation for the week ended September 17, reached to 9.13 per cent as against 8.84 a week ago.

Food Inflation is a post from: First Blog for Indian Financial Market

L&t finance holdings limited is getting listed on august 12 2011 ,it will be traded with bse scrip code 533519 , the stock had been fixed at 52 rs retail.

L&T FINANCE Holdings listing on august 12 2011 is a post from: First Blog for Indian Financial Market

Indian shares opened in red and started following the friday trend and it almost fell sharply to a new 14-month low in early trade Monday and still its in red by almost averaging points not less then 450.It just replying to a broad-based sell-off in Asian equities, after a S&P downgrade of U.S. government debt heightened concerns over the growth outlook of the U.S. economy amid fears of a global double-dip recession.The S&P on Friday downgraded the long-term debt rating of the US from AAA to AA+ and continued with its negative outlook. This could lead to some immediate turbulence in financial markets, however, investors are likely to focus on ‘relative’ ratings in their investment decisions.

Monday Carnage happening after Friday Carnage is a post from: First Blog for Indian Financial Market

US market yesterday saw massive crash and All three major markets got into negative territory for the year as investors were rattled over an intensifying global economic slowdown and ahead of the widely-followed monthly unemployment report.
The CBOE volatility index surged more than 35%.Dow Jones Industrial Average slipped 4.31% or 512.76 points at 11383.68. Nasdaq Composite shed 5.08% or 136.68 points at 2556.39. Standard & Poor’s 500 shed 4.78% or 60.27 points at 1200.07.

Wallstreet Plunges worst fall since December 2008 is a post from: First Blog for Indian Financial Market

It was good news from L&T finance holding , they had their IPO over subscribed by more than 5 times or so and it was heard most of the bidding was near the higher band of 69 still the company has set the IPO price at 52 rs , which is really good for the investors and retailers , have never seen any company doing like this when the subscription was good and also when the subscription was happening at the higher end .

The company was offering 214.51 million shares to raise funds for strengthening its capital base, for lending and for repayment of debt.Before the launch of the public offering, L&T Finance had raised around $36 million from three cornerstone investors including DSP BlackRock, Malaysia’s Khazanah and US private-equity fund Capital International.It had earlier raised $75 million in a pre-IPO share placement to Capital International.

L&T Finance Holding IPO Price set near Lower band is a post from: First Blog for Indian Financial Market

L&T Finance IPO which is closing today as of yesterday evening was totally subscribed by mere 1.22 times or so , its kind of end of month and most probably everyone would get the salary today and not sure how many retailers will apply today ,

Total Issue Size 214508067
Total Bids Received 260779100
Total Bids Received at Cut-off Price 154393700
No. of times issue is subscribed 1.22

On the retail side the IPO has subscribed by 2.21 times .
L&T FINANCE HOLDINGS LIMITED IPO Over subscription details

1 Qualified Institutional Buyers (QIBs) 75382416 53907900 0.72
2 Non Institutional Investors 31617647 15757100 0.50
3 Retail Individual Investors (RIIs) 73774510 163301600 2.21
4 Employees 10204082 5230200 0.51
5 Shareholders 23529412 22582300 0.96

Will keep this updated – Final update please see below – Total it was subscribed by 5.34
L&T FINANCE HOLDINGS LIMITED

Sr.No. Category No.of shares offered/reserved No. of shares bid for No. of times of total meant for the category
1 Qualified Institutional Buyers (QIBs) 75382416 145134800 1.93
2 Non Institutional Investors 31617647 195534600 6.18
3 Retail Individual Investors (RIIs) 73774510 709226000 9.61
4 Employees 10204082 15608600 1.53
5 Shareholders 23529412 78940600 3.35

L&T Finance IPO Over subscription Details is a post from: First Blog for Indian Financial Market

India’s central bank Tuesday took measure that the goveenment failed to make ,it  hiked its key rates by 50 basis points each in the 11th such exercise since January 2010 to tame inflation, setting the stage for commercial banks to raise their interest on personal and corporate loans.

The repurchase rate, or the interest levied on short-term borrowing by commercial banks, has been revised to 8 percent from 7.5 percent, while the reverse repurchase rate — the interest on short-term lending — was hiked to 7 percent from 6.5 percent.

RBI raises Interest rate by 50 basis points is a post from: First Blog for Indian Financial Market

L&T Finance Holdings’ initial public offering (IPO) opens for bidding on 27 July 2011. The IPO closes on 29 July 2011. L&T Finance Holdings is a subsidiary of engineering and construction major Larsen & Toubro. The company plans to use the IPO proceeds to repay Rs 345 crore to its parent, enhance its own capital base by infusing Rs 570 crore into the company, and invest Rs 535 crore in L&T Infrastructure Finance.

L&T Finance Holdings on 7 July 2011 raised Rs 330 crore through a private placement of 6 crore equity shares at Rs 55 per share to Capital International of the US.

Investment Rationale:

The operations are arranged into four business groups, being the Infrastructure Finance Group, the Retail Finance
Group, the Corporate Finance Group and the Investment Management Group. As on March 31, 2011, on a
consolidated basis, we had total gross loans and advances outstanding of Rs 179,431.77 million, and for Fiscal Year
2011, they made total disbursements of Rs 243,415.11 million across our Infrastructure Finance Group, Corporate
Finance Group and Retail Finance Group.

Key Strategies:

a) Continue to expand the business to include new products and services, as well as entirely new lines of business.
b) Increase the market penetration of their existing products and services
c) Continue to focus on two key Indian growth stories: infrastructure and rural development
d) Develop their financial products distribution business segment.
e) Continue to attract and retain talented professionals
f) Continue to focus on the growth of their retail loan portfolio

Key Strengths:

a) Diversified and balanced mix of high growth businesses.
b) Strong distribution network, with a presence throughout India
c) Experienced management team and employees with a proven track record of establishing and growing new lines of business
d) High quality loan portfolio comprising the funding of mainly income-generating assets and activities.
e) Good financial and capital position, as well as access to multiple sources of capital
f) Strong parentage and brand equity of L&T

L&T FINANCE HOLDINGS IPO and Allotment Details is a post from: First Blog for Indian Financial Market

Inflation for june 2011 rises to 9.4% and Inflation figure for April 2011 revised upwards to 9.74% – Sorry RBI you have not done the job right yet , taming of interest rates is not enough yet.India’s WPI based inflation for June 2011 has inched up to 9.44% from 9.06% in May 2011. The inflation for three major sub-groups such primary articles, fuel & power and manufactured products increased to 12.2%, 12.9% and 7.4% in June 2011 from 11.3%, 12.3% and 7.3%, respectively in May 2011. More importantly, the Government has continued to revise provisional figures sharply upwards. The inflation figure for April 2011 has been sharply revised upwards to 9.74% compared to 8.66% reported earlier.

Primary Articles.

-Inflation for food articles eased to 18.6% from 22.3% in May,while that for food articles was steady at 8.4%.
-Inflation for minerals surged to 27.0% in June from 11.9% in May 2011.

fuel and power group
The inflation for fuel and power group rose to 12.9% in June 2011 from 12.3% in May 2011.

-Inflation for coal and electricity was steady at 13.3% and 1.3%,
-Mineral oils increased to 16.8% in June 2011.
-In mineral oils, the inflation for petrol, diesel and LPG increased to 30.6%, 6.6% and 12.2% during June 2011.

Manufactured products group

Inflation for food products has accelerated to 8.5% in June 2011 from sub-zero level in January 2011.
Chemical products and basic metals also rose slightly to 7.4% and 8.9% in June 2011.
Inflation for machinery & machine tools, textiles and transport equipments eased to 2.9%, 14.7% and 2.2%, respectively in June 2011.

Inflation Data comes out – No body likes it is a post from: First Blog for Indian Financial Market

Tata Consultancy Services net profit rose 32.51 Percent to Rs 2062.43 crore in the quarter ended June 2011 compared to Rs 1556.41 crore during the previous quarter ended June 2010. Sales rose 34.36 Percent to Rs 8613.56 crore in the quarter ended June 2011 compared to Rs 6410.95 crore during the previous quarter ended June 2010.
Consolidated Results

In the consolidated results, the company reported net profit after minority interest of Rs 2414.76 crore in the quarter ended June 2011 compared to Rs 1906.07 crore during the previous quarter ended June 2010. Sales reported to Rs 10797.02 crore in the quarter ended June 2011 compared to Rs 8217.28 crore during the previous quarter ended June 2010.

During the period, the company added 24 new clients and the number of clients in the category of $50 million plus increased from 27 to 33. The company has applied for 411 patents including 69 applied for during the quarter. Till date, the company has been granted 68 patents.

In terms of human resources, TCS continued to hire to support business growth. Lateral hiring accounted for 75 per cent of total hiring in the first quarter.There was a total gross addition of 11,988 people (net of 3,576) taking the total employee strength to 2.02 lakh. In the second quarter, the company expects to hire 17,000-20,000.

Tata Consultancy Services Results – Announces quarter ended June 2011 Results is a post from: First Blog for Indian Financial Market

Bajaj Finserv net profit declines 1.69% to Rs 12.21 crore in the quarter ended June 2011 compared to Rs 12.42 crore during the previous quarter ended June 2010. Sales declined 11.47% to Rs 25.70 crore in the quarter ended June 2011 compared to Rs 29.03 crore during the previous quarter ended June 2010.
Consolidated Results
In the consolidated results, net profit reported to Rs 128.73 crore in the quarter ended June 2011 compared to Rs 66.08 crore during the previous quarter ended June 2010. Sales reported to Rs 612.64 crore in the quarter ended June 2011 compared to Rs 123.91 crore during the previous quarter ended June 2010.

Bajaj Finserv Results – Announces quarter ended June 2011 Results is a post from: First Blog for Indian Financial Market

Bajaj Finance net profit rises 94.12% to Rs 90.81 crore in the quarter ended June 2011compared to Rs 46.78 crore during the previous quarter ended June 2010. Sales rose 54.13% to Rs 416.35 crore in the quarter ended June 2011 compared to Rs 270.13 crore during the previous quarter ended June 2010.

Bajaj Finance Results – Announces quarter ended June 2011 Results is a post from: First Blog for Indian Financial Market

Sun Pharma Advanced Research Company Ltd informed the company that it is planning to to consider in principle, the issue of equity shares of Re. 1 each of the Company by way of rights issue for
raising the funds for the Company. Further the Company has informed that, as per the agenda of the Committee Meeting,however the Committee shall not decide at the said meeting about the ratio of rights share entitlements, the issue price and the record date for fixing the rights entitlement of shareholders & which shall be decided in due course and accordingly the exchanges shall be informed in due course.

Sun Pharma Advanced Research Company Rights Issue is a post from: First Blog for Indian Financial Market

Residency Projects & Infratech Limited has informed the market that its members at the 26th Annual General Meeting (AGM) of the Company which was held on July 09, 2011, inter alia, have approved the following:

1. Declaration of Dividend of Re. 1/- (10%) per equity share.
2. Issue of Bonus Shares in the ratio of one equity share for every four equity shares held.

Residency Projects & Infratech Limited Announces Bonus is a post from: First Blog for Indian Financial Market

Infosys informed the market of its Quarter Ended June 30, 2011 Results .
Revenues

 Revenues were `7,485 crore for the quarter ended June 30, 2011;QoQ growth was 3.2%; YoY growth was 20.8%
 Net profit after tax was `1,722 crore for the quarter ended June 30, 2011;QoQ decline was 5.3%; YoY growth was 15.7%
 Earnings per share (EPS) was `30.14 for the quarter ended June 30, 2011;QoQ decline was 5.3%; YoY growth was 15.7%

Others

 26 clients were added during the quarter by Infosys and its subsidiaries
 Gross addition of 9,922 employees (net addition of 2,740) for the quarter by Infosys and itssubsidiaries
 1,33,560 employees as on June 30, 2011 for Infosys and its subsidiaries

Infosys Results – Announces Results for the Quarter Ended June 30, 2011 is a post from: First Blog for Indian Financial Market

Results season has started and today these are the company that are coming out with results.

Results – To be Declared on July 11th 2011 is a post from: First Blog for Indian Financial Market

McNally Bharat Engineering Company Ltd has informed the market that the Company have received an order from Hindalco Industries Ltd (Unit: Mahan Aluminium) for Construction of Civil Foundation and Structural Steel Work of Pipe Rack for 6X 150 MW Captive Power Plant at Bargawan, Singrauli, Madhya Pradesh at price of Rs 27.99 Crores.

McNally Bharat Engineering Company Limited bags order worth 27.99 Crore is a post from: First Blog for Indian Financial Market

Man Infraconstruction Ltd has informed the market that the company has secured following work orders aggregating to approximately Rs 95 crore:

1. Civil and structural works for Residential Towers from Park View Developers at Borivali,Mumbai; and
2. Additional work order for Civil and structural works for Residential Towers from Goldbricks Infrastructure Pvt. Ltd. at Nagpur”

Man Infraconstruction Ltd bags orders worth Rs 95 crore is a post from: First Blog for Indian Financial Market

ARSS Infrastructure Projects informed the market that the Company has been awarded with a new work order from the Office of the Executive Engineer, Kalahandi, R&B Division, Bhawanipatna, Kalahandi, Odisha on July 07,2011 for Improvement of Bhwanipatna – Rayagada Road from 0/0 to 26/0 K.M for an amount aggregating Rs. 21.18 crores.

ARSS Infrastructure Projects bags order worth 21.18 crore is a post from: First Blog for Indian Financial Market

Its almost 6 months bank dint raise the deposit rate ,im thinkig in 10 days or so they might raise it again as all the banks started raising bplrs.we might hit the 11 % mark soon in this year .I will talk about various deposit rates that is prevailin in banks soon in another post.

Bank Deposits might go up again is a post from: First Blog for Indian Financial Market

Sun TV Network which was in limelight almost for a week now has been battered heavily and Sun Tv was down by 30 Percent or so and Spice Jet was down more than 10 percent or so because of reports that the Central Bureau of Investigation will question former Telecom Minister Dayanidhi Maran over his alleged role in the 2G spectrum allocation scam.

Scam Details Allegation against Dayanidhi Maran

The allegation against Dayanidhi Maran is that Aircel, previously denied a telecom licence for over two years, was finally given one after its owners changed hands to Malaysia-based Maxis. The charge is that Maran cleared the decks only after a sister company of Maxis invested Rs 675 crore in the Maran family-owned Sun TV, which the BJP calls a conflict of interest. However, Maran has rubbished the charges of corruption and said he did not favour any operator when he was the Telecom Minister between 2004 and 2008.

Kalanidhi Maran and his brother Dayanidhi Maran are grand nephews of DMK chief M Karunanidhi.

SUN TV and Spice Jet Battered in Market is a post from: First Blog for Indian Financial Market

For almost 3 weeks the Food inflation has been declining and that has halted now , food inflation surged to 8.55 per cent for the week ended May 14 from 7.47 per cent in the previous week, The main reason is increase in prices of fruits, milk and protein-based items.The fresh spike in food inflation is not good news, either for the consumer who has been groaning under the overall inflationary impact or the government which has been striving to contain the price spiral. For one, the increase in petrol prices by Rs.5 a litre with effect from May 14 is yet to be factored into the WPI (wholesale price index) data and this will be reflected in the data for the week ended May 21.

Food Inflation at 8.55 Per Cent for week ending May 14th 2011 is a post from: First Blog for Indian Financial Market

State Bank of India declared results today and the company even touched its monthly low and almost declined by 7 Percent or so .It Touched the montly low of 2401 .
State Bank of India Results
The Unaudited results for the Quarter ended March 31, 2011

The net profit of the bank stood at Rs20.88 crore for the quarter ended March 31, 2011 where as the same was at Rs1866.60 crore for the quarter ended March 31, 2010.
The total income of the bank came in at Rs26536.84 crore for the quarter ended March 31, 2011 where as the same was at Rs22474.12 crore for the quarter ended March 31, 2010.

The Audited results for the Year ended March 31, 2011

The net profit of the bank stood at Rs8264.52 crore for the year ended March 31, 2011 where as the same was at Rs9166.05 crore for the year ended March 31, 2010.
The total income of the bank came in at Rs97218.96 crore for the year ended March 31, 2011 where as the same was at Rs85962.07 crore for the year ended March 31, 2010.

Consolidated Results:
The Audited consolidated results for the Year ended March 31, 2011

The net profit of the group stood at Rs10684.95 crore for the year ended March 31, 2011 where as the same was at Rs11733.83 crore for the year ended March 31, 2010.
The total income of the bank came in at Rs147843.92 crore for the year ended March 31, 2011 where as the same was at Rs133851.83 crore for the year ended March 31, 2010.

‘Consequent to the notification of the ‘Acquisition of State Bank of Indore Order, 2010′ issued by the Govt. of India, the undertaking of State Bank of Indore stands transferred to and vests in State Bank of India (‘the Bank’), with effect from August 26, 2010, the effective date. The results for the quarter and year ended March 31, 2011 include the results of operations of the erstwhile State Bank of Indore for the period from August 26, 2010 and the results of the Bank are not comparable to that extent.’
Further, the board of directors of the bank recommended a dividend of Rs30 per share (300%) for the year ended March 31, 2011.

SBI Down by 6 Percent after a Disappointing QTR Results is a post from: First Blog for Indian Financial Market

AIADMK chief Jayalalithaa who visited the Governor of Tamilnadu and who will be sworn in as Tamil Nadu Chief Minister on Monday between 12 – 15 PM, will have 33 ministers in her cabinet
Tamilndau 2011 Cabinet Ministers

(1) J.Jayalalithaa — Chief Minister, Public,Indian Administrative Service, Indian Police Service, Indian Forest Service, General Administration, District Revenue Officers, Prevention of Corruption, Police, Home
(2) O.Panneerselvam — Finance
(3) K.A.Sengottaiyan — Agriculture
(4) Natham R.Viswanathan — Electricity, Prohibition and Excise
(5) K.P.Munisamy — Municipal Administration, Rural Development
(6) C.Shanmugavelu — Industries
(7) R.Vaithilingam — Housing and Urban Development
(8) S.S.Krishnamoorthy — Food
(9) C.Karuppasamy — Animal Husbandary
(10) P.Palaniappan — Higher Education
(11) C.Ve.Shanmugam — School Education
(12) Sellur K.Raju — Cooperation
(13) K.T.Pachamal — Forests
(14) Edappadi K.Palanisamy — Highways and Minor Ports
(15) S.P.Shanmuganathan — HR & CE
(16) K.V.Ramalingam — Public Works
(17) S.P.Velumani — Special Programme Implementation
(18) T.K.M.Chinnayya — Backward Classes
(19) M.C.Sampath — Rural Industries
(20) P.Thangamani — Revenue
(21) G.Senthamizhan — Information
(22) S.Gokula Indira — Commerical Taxes and Registration
(23) Selvi Ramajayam — Social Welfare
(24) B.V.Ramanaa — Handlooms and Textiles
(25) R.B.Udhayakumar — Information and Technology
(26) N.Subramanian — Adi Dravidar and Tribal Welfare
(27) V.Senthil Balaji — Transport
(28) N.Mariyam Pichai — Environment
(29) K.A.Jayapal — Fisheries
(30) E.Subaya — Law, Courts and Prisons
(31) Budhichandhiran — Tourism
(32) S.T.Chellapandian — Labour
(33) Dr.V.S.Vijay — Health

(34) N.R.Sivapathi — Sports and Youth Welfare

Tamil Nadu’s Honorable Chief Minister J.Jayalalitha Cabinet Ministers is a post from: First Blog for Indian Financial Market

Petrol Prices for the first time to go up by almost 5 Rs , They had been holding this for some time from January 2011 or so , and after the results that have been announces for all the state election yesterday they have chosen to raise it today night ,They had been planning to raise it by 10 Rs or so , they have chosen to raise it by 2 installments may be .In Chennai the price is at 61 rs or so and it will go to 66 rs.

Petrol Prices to go up by 5 Rs Per Litre is a post from: First Blog for Indian Financial Market

M.K.Stalin is trailing in his Kolathur Constituency by 200 votes or so , we will see if this trend changes or not by EOD .
See more info here : http://eciresults.nic.in/ConstituencywiseS2213.htm

M.K.Stalin Trailing in his Kolathur Constituency by 200 Votes – Tamilnadu 2011 Election Results is a post from: First Blog for Indian Financial Market

Today all Gold ETF’s can be traded without any transaction fee , its like no wastage charge for gold today in ETF’s also . Already gold went to the peak price week before and its kind of down from that moment on and i’m thinking it might go down a little after today.

Trade GOLD ETF’s without Transaction Fee only today on Akshaya Trithiya Day is a post from: First Blog for Indian Financial Market

Muthoot Finance Limited listed today and and i got alloted 40 or so after applying 7 lot , thought it would at least list at a premium of 25 rs , but sorry just 20 was the magic number and i sold the stock at 189 or so , its trading at 185 in BSE and trading at 189 at NSE.
BOLT System : MUTHOOT FIN
37,17,12,768 equity shares of Rs. 10/- each fully paid up and after premium it was 175 rs per share.

Whoever dint get the allotment money back or stock in the Demat account please use the following address to contact them,

Registered and Corporate Office:
Muthoot Chambers,
Opposite Saritha Theatre Complex,
2nd Floor, Banerji Road,
Kochi 682 018,
India.
Tel: (91 484) 239 4712;
Fax: (91 484) 239 6506;

Website: www.muthootfinance.com;
Email: investors@muthootfinance.com

Muthoot Finance Limited Listing Today is a post from: First Blog for Indian Financial Market

Reserve Bank of India in a bid to put brake to the raising Inflation rate has decided in its first monetary policy review of 2012, to raise repo and reverse repo rates by 50 basis points. This puts repo (rate at which it lends to banks) to 7.25% and reverse repo (rate at which it borrows) to 6.25%. However, the CRR has been left unchanged at 6%.

Reserve Bank of India Raises Repo Rates by 50 Basis Points is a post from: First Blog for Indian Financial Market

Dividends and Ex – Date from May 1st 2011 to May 12th 2011 – Corporate actions for the first 12 days of Mayc 2011.

Dividends and Ex – Date from May 1st 2011 to May 12th 2011 is a post from: First Blog for Indian Financial Market

Infosys had a Meeting today to announces its Leadership succession plan and has done the same .They have done the following changes to the board.

Mr. N. R. Narayana Murthy appointed Chairman Emeritus.
Mr. K. V. Kamath named as the Chairman of the Board.
Mr. S. Gopalakrishnan named as the Co-Chairman of the Board.
Mr. S. D. Shibulal named as the Chief Executive Officer and Managing Director.

The appointments are effective from August 21, 2011. The decision of the Board is based on the recommendations of the Nominations Committee. Speaking on the occasion, Prof. Jeffrey S. Lehman, Chairman of the Nominations Committee said, “This is a great moment for Infosys. These three leaders meld an extraordinary range of talents and experiences with a united commitment to drive the company to unprecedented levels of accomplishment while remaining true to its historic values. We could not be in better hands.”

Image Source: Deccan

Infosys Announces New Leadership Succession Plan is a post from: First Blog for Indian Financial Market

Hindustan Dorr informs the market that it has bagged order worth Rs 546.40 Million order from Nuclear power corporation for manufacture of process equipments like emergency condensers and D2O exchangers for its Kakrapur Atomic power projects in Gujarat and Rawatbhatha Atomic power project Rajasthan .

Hindustan Dorr bags 546.40 Million Order is a post from: First Blog for Indian Financial Market

So RBI which raised almost 25 basis points on the Repo and Reverse Repo rate , Government announced that 4.75 Lakh people who have invested in Provident Fund will get 1 Percent more interest from now ,On Thursday, the government approved an increase in interest rates on provident fund balances to 9.5% for the current financial year, from 8.5% in the past few years. The move will result in a percentage point increase in interest rate on the entire balance lying with the Employees Provident Fund Organization or approved provident fund trusts. This is the highest payout in five years.

Some Story behind the raise of interestSource:Economictimes.

Last September, the EPFO had declared a 9.5% interest for 2010-11, against the 8.5% it had been paying since 2005-06, after discovering a surplus of Rs 1,733 crore in its interest suspense account following a change in accounting procedure.

The calculation was questioned by the finance ministry, which went on to seek a snap audit by the Comptroller and Auditor General of India , or CAG.

The CAG audit found that as on March 31, 2010, of the over-five crore EPF accounts, 4.72 crore accounts had not been updated, or credited interest.

Based on this, the CAG had said that the surplus could not be verified as a large number of accounts had not been updated.

It, however, did not go into the question whether there would be a surplus to justify the higher payout once accounts had been updated.

Based on the findings, the finance ministry had refused to ratify the decision to pay 1% higher interest. In the absence of a surplus, the government would have to provide funds to bridge the deficit.

The EPFO has now convinced the ministry that the surplus amount will be available even after accounts are updated.

The organization had updated 1.1 crore accounts by the end of last year. What is not clear yet is the action the ministry will take if the EPFO fails to update accounts within the stipulated time.

It is doubtful whether the EPFO has the means to work on 4.7 crore accounts in such a short time. “We will have to try our best,” another official said.

9.5 Per Cent Interest for our Provident Fund is a post from: First Blog for Indian Financial Market

PTC India Financial Services, a unit of PTC India,Went into IPO market and it has launched its initial public offer (IPO)today and will close it on March 18.The IPO price has been fixed at a price band at Rs 26-28 a share for its initial public offering (IPO) to be offered through 100 per cent book-building.They are planning to raise Rs 438 crore through the issue at higher end of price band. The company has decided to offer discount of Re 1 to the issue price to retail individual bidders, PFC Financial Services Chairman T N Thakur told reporters here.

PTC India

PTC India Ltd. (PTC), the leading provider of power trading solutions in India, is a Government of India initiated Public-Private Partnership, whose primary focus is to develop a commercially vibrant power market in the country.PTC is the pioneer in developing and implementing the concept of power trading in India and has successfully demonstrated its efficacy in optimally utilizing the existing infrastructure within the country to the benefit of all.
PTC India Financial Services Ltd (PFS) is promoted by PTC India Ltd (PTC) as a special purpose investment vehicle to provide total financial services to the entities in energy value chain, which inter-alia includes investing in equity and/or extending debt to power projects in generation, transmission, distribution; fuel sources, fuel related infrastructure like gas pipelines, LNG terminals, ports, equipment manufacturers and EPC contractors etc.PFS also provides non-fund based financial services adding value to green field and brown field projects at various stages of growth and development.

ABOUT PTC India Financial Services IPO

Symbol – Series PTFS EQ
Issue Period Mar 16, 2011 to Mar 18, 2011
Issue Size Public issue of 156,700,000 Equity Shares Of Rs 10/- Each.(including Anchor Portion of 23,505,000 equity shares)
Price Range Rs.26 to Rs.28
Market Lot 250 Equity Shares
Minimum Order Quantity 250 Equity Shares
IPO Grading CARE IPO GRADE 4, ICRA IPO GRADE 4,CRISIL IPO GRADE 3
Maximum Subscription Amount for Retail Investor Rs.200000

PTC India Financial Services IPO – Opens Today is a post from: First Blog for Indian Financial Market

With Inflation raising UP and Down and Oil prices going up , the Reserve Bank of India informed today that they have hiked key policy rates for the eighth time since last March by 25 basis points in its mid-quarterly review on Thursday , The repo and reverse repo rates were hiked by 25 bps to 6.75 per cent and 5.75 per cent, respectively. CRR was left unchanged at 6%.
What is Repo Rate – Repo rate is the rate at which the RBI lends to banks against securities.
What is Reverse Repo Rate – The reverse repo is the rate it pays to banks for deposits.

RBI raises Repo and Reverse Repo Rate by 25 Basis Points is a post from: First Blog for Indian Financial Market

Today the CBI filed reports with Supreme Court and Sadiq Pasha who had been summoned in todays filing commited sucide at chennai .We all know that Mr Batcha’s home and offices had been raided in December by the CBI in connection with the 2G scam, and he was interrogated by the CBI in February. He was the Managing Director of Green House Promoters, a real estate company, which had several multiple associations with Mr Raja. The former minister’s brother, Kaliaperumal, is one of the main investors in the company. Mr Raja’s wife is also believed to be the company’s legal advisor.
Green House, worth Rs. 600 crore, was being studied for possibly serving as a front for Mr Raja and others at the center of the spectrum scam. The famous Shahid Balwa,who was the promoter of Swan Telecom and he was also arrested by CBI in connection to the 2G scam and he was introduced to Raja by Mr Batcha.
According to police sources the incident occurred in Vanniya Teynampet this afternoon.His family members rushed him to the Apollo Hospital in Greams Road where doctors pronounced him dead upon arrival.Police sources added that Pasha was supposed to head to Delhi on the 2.30 pm flight after being summoned by the CBI in connection with the 2G scam.

Sadhick Batcha Business Associate of A.Raja Commits Sucide is a post from: First Blog for Indian Financial Market

Indian Stock market witnessed a fall of 400 points or 2.2 percent in the early trades on Tuesday,The market tumbled because of the worsening conditions in quake-stricken Japan which almost sent markets in Asian sharply lower.Nikkei average dived to two-year lows and Japanese government bond futures rose more than a full point on the day on Tuesday as the crisis at the quake-stricken nuclear power plants escalates. Nikkie average fell more than 11 per cent to 8556.67, its lowest level since April 2009, while benchmark 10-year JGBs jumped more than a full point to a three-month high of 141.17.

Asian Market as of 10.15 AM IST

NIKKEI 8405.49 -1215.00 (-12.63%)
TOPIX 743.26 -103.70 (-12.24%)
HANG SENG 22449.60 -896.28 (-3.84%)

Indian Market – Sensex

Sensex was down by 400 Points is a post from: First Blog for Indian Financial Market

After 3 months or so the Infaltion has fallen to single digit , The inflation data was released today and the inflation is at 9.52 per cent for the week ended February 26 on account of a decline in prices of potatoes, pulses and wheat.
Food inflation stood at 10.39 per cent in the previous week. The rate of price rise of food items has fallen to a single-digit figure for the first time since the week ended December 4, 2010, when it was 9.46 per cent.

Food inflation in single digit at 9.52 Per Cent is a post from: First Blog for Indian Financial Market

Central Bank of India has informed the market that it has come out with rights issue for which they have come with the details of the same.
Central Bank Rights Issue Detail

1. Equity Shares proposed to offer by the Bank – 24,24,84,876 Equity Shares of Face Value of Rs 10.00 each. (in addition to the present, paid up capital of 40,41,41,460 equity shares which is considered for determining the number of shares in the Rights Issue)
2. Rights entitlement for Equity Shares – 3 (Three) Equity Shares for every 5 (Five) Equity shares as on Record Date
3. Face Value – Rs 10/-
4. Issue Price, per Equity Shares – Rs. 103.00 (inclusive of premium of Rs. 93.00) per Equity share.
5. Equity Shares outstanding prior to the Issue – 40,41,41,460 Equity Shares of Rs. 10/- each
6. Payment Terms – The entire amount of Rs.103/- per Equity Share shall be payable on application. The payment on Application would be as under: On Application Towards Share Capital – Rs 10/- per Equity Share Towards Premium Account – Rs 93/- per Equity Share A separate cheque/demand draft/Pay Order must accompany each Non-ASBA Application Form

Central Bank of India Rights Issue is a post from: First Blog for Indian Financial Market

State Bank of Bikaner & Jaipur informed the market that it has proposed rights issue and these are the following details for the same .
Rights Issue Details

1. Price : Rs. 390 per Rights Equity Share (Face value of Rs. 10/- each and premium of Rs. 380/- each)
2. Ratio : (2 equity shares for every 5 equity shares held as on the Record Date)
3. No. of equity shares : Issue of 2,00,00,000 equity shares
4. Size of the Issue: Rs. 780 Crores
5. Issue Opening on March 28, 2011 and Closing on April 11, 2011.

State Bank of Bikaner & Jaipur Rights Issue is a post from: First Blog for Indian Financial Market

OnMobile Global Limited has informed the market they have decided to go ahead with one for one bonus issue of equity shares to all the Shareholders of the company. The Bonus Shares distributed shall, for all purposes, be treated as an increase in the nominal amount of the Capital of the Company, held by each such member and not as income. The Company has achieved several significant milestones in the past ten years and as it completes a successful decade as India?s largest mobile value-added services provider, the bonus issue is in recognition of the invaluable support the Company has received from its shareholders. In addition, it is envisaged that the bonus issue will encourage greater liquidity in OnMobile shares and also enable an increase in the Authorized Share Capital of the Company. Arvind Rao, CEO & Co-Founder, OnMobile Global Limited said “OnMobile has completed the deployment of the largest international project in 10 years in Latin America. The early results of this project are encouraging. The Company is optimistic about its future growth. Commemorating the 10 Anniversary year for OnMobile Global Limited, the Company is pleased to announce that the Board of Directors in their meeting held on March 07, 2011, subject to the approval of the shareholders through Postal Ballot, approved for issue of Bonus shares to the equity shareholders of the Company in the ratio of 1:1 to reward its shareholders.

OnMobile Global Bonus Issue is a post from: First Blog for Indian Financial Market

India has one the Toss and Elected to field against Ireland and already 2 wickets gone.
Pitch report: Sunil Gavaskar feels the Bengaluru track is a lot diferent from the one on which India and England played a tie. The spinners will get a lot of purchase as the track is quite dry and cracks are likely to get wider as the game progresses.
TEAMS

India: SR Tendulkar, V Sehwag, G Gambhir, V Kohli, Yuvraj Singh, MS Dhoni (captain), YK Pathan, Harbhajan Singh, PP Chawla, Z Khan, MM Patel
Ireland: WTS Porterfield (captain), PR Stirling, EC Joyce, NJ O’Brien, AR White, AR Cusack, KJ O’Brien, JF Mooney, DT Johnston, GH Dockrell, WB Rankin

See it live here.

India Vs Ireland Cricket World Cup Video Live on Web is a post from: First Blog for Indian Financial Market

Just one more month remaining for the State election in Tamilnadu , the seven-year-old Congress-DMK alliance seems to be on the verge of collapse as the partners cannot agree on seat sharing. A high-level committee of the DMK met this evening to decide on continuing their alliance with the Congress. Party supremo M Karunanidhi was also present at the meeting.They have come out with the decision that they are going to give Issue based support and all the DMK MP will resign from the UPA cabinet.Which means the congress will go alone in Tamilnadu.Earlier on Thursday, the Congress shocked the DMK by demanding 63 seats after the DMK agreed to 60 out of 234 seats.This caused all the rift.

Watch Everything Live as it is happening .

> DMK has 6 ministers in the UPA government.
> Is this kind of a resignation drama so congress will accept to local state seat sharing
> The congress stand on the seat sharing even surprised DMK as if that congress wanted DMK out of the UPA.
> DMK gave 60 and congress demanding for 3 more and this cause all the rift , im not sure if there is something else that is cooking on the background.
>We have decided to relieve ourselves from the govt: Karunanidhi veru word
>Congress stand does not help for an amicable poll accord says DMK

DMK to withdraw from UPA Cabinet – To give only Issue Based Support is a post from: First Blog for Indian Financial Market

The much expected Sri Lanka VS Australia Match is scheduled to begin at 14:30 local time (09:00 GMT)
Sri Lanka squad

KC Sangakkara*†, DPMD Jayawardene, TM Dilshan, CRD Fernando, HMRKB Herath, CK Kapugedera, KMDN Kulasekara, SL Malinga, AD Mathews, BAW Mendis, M Muralitharan, NLTC Perera, TT Samaraweera, LPC Silva, WU Tharanga

Australia squad

RT Ponting*, MJ Clarke, CJ Ferguson, BJ Haddin†, JW Hastings, DJ Hussey, MG Johnson, JJ Krejza, B Lee, TD Paine†, SPD Smith, SW Tait, SR Watson, CL White

See Match Live here

Sri Lanka vs Australia Match Live From Colombo is a post from: First Blog for Indian Financial Market

iPad season is gone its time to buy iPad 2 – Two cameras for FaceTime and HD video recording. The dual-core A5 chip. The same 10-hour battery life.1 All in a thinner, lighter design. Now iPad is even more amazing. And even less like anything else.

Dual-core A5 chip.

It’s fast, times two.Two powerful cores in one A5 chip mean iPad can do twice the work at once. You’ll notice the difference when you’re surfing the web, watching movies, making FaceTime video calls, gaming, and going from app to app to app. Multitasking is smoother, apps load faster, and everything just works better.

Superfast graphics.

Go, gamers, go.With up to nine times the graphics performance, gameplay on iPad is even smoother and more realistic. And faster graphics help apps perform better — especially those with video. You’ll see it when you’re scrolling through your photo library, editing video with iMovie, and viewing animations in Keynote.

Battery life keeps on going. So you can, too.

Even with the new thinner and lighter design, iPad has the same amazing 10-hour battery life.1 That’s enough juice for one flight across the ocean, or one movie-watching all-nighter, or a week’s commute across town. The power-efficient A5 chip and iOS keep battery life from fading away, so you can get carried away.

LED-backlit display.The view is amazing.

iPad is one big, beautiful display — 9.7 inches of high-resolution photos, movies, web pages, books, and more. LED backlighting makes everything you see remarkably crisp, vivid, and bright. Even in places with low light, like an airplane. And there’s no wrong way to hold iPad. It’s designed to show off everything in portrait and landscape, so with every turn (even upside down), the display adjusts to fit. Because it uses a display technology called IPS (in-plane switching), it has a wide, 178° viewing angle. Hold it up to someone across the room, or share it with someone sitting next to you, and everyone gets a brilliant view.

Wi-Fi and 3G.Two great ways to stay connected.

Every iPad is built with advanced 802.11n wireless technology. It automatically finds Wi-Fi networks, which you can join with a few taps. iPad is also available with 3G connectivity on either AT&T or Verizon Wireless networks. So if you’re somewhere without Wi-Fi, such as outdoors on a camping trip or on the road, you can still surf the web, check email, or get directions

iPad 2 Coming March 11 2011 , Starting at $499 is a post from: First Blog for Indian Financial Market

RPP infra touched a intra day high of 71 and its hovering around 69 now after it informed the market that it has bagged order worth 1500 crore from Republic of Gabon for construction of 10000 houses for which the land will be provided by Republic of gabon.

RPP Infra bags order worth 1500 Crore is a post from: First Blog for Indian Financial Market