Share Review: ITNL

IL & FS Transportation Networks Ltd. (ITNL) has emerged as the lowest bidder for
four laning of Kiratpur to Ner-Chowk project worth Rs.1,818 cr.

This BOT project in Himachal Pradesh would be executed on DBFOT basis under Phase III. The
project is on toll basis with a concession period of 28 years and construction
period of three years.

Further, NHAI  (National Highways authority of India)  would provide a grant of Rs.134.6 cr to ITNL.
This is positive for the company, as ITNL had not won any project in FY 2012
owing to the aggressive bidding witnessed in the road sector.

Considering the sharp run up in the share price (About 40% in one month), we recommend
Accumulate on the stock with an SOTP target price of Rs.227.
Review by Angel Broking
6th Floor, Ackruti Star, Central Road,MIDC
Andheri (E) , Mumbai-93
Main             : (91-22) 3935 7600  Extn : 6956
Website         :


Payment settling for oil imports from Iran in INR : RBI

According to RBI (Reserve Bank of India) deputy governor Mr.  H.R. Khan, Our country India is considering settling payment for oil imports from Iran in Indian rupees (INR),

Mr. Khan said, ''India was evaluating different options to settle payment for oil imports from Iran. There are different options which are being evaluated. It is a bilateral issue. It cannot be discussed openly."

Earlier this January (2012) month reported that India & Iran have agreed to settle some of their $ 1,200 crore annual oil trade in rupees.  Resorting to the restricted currency after more than a year of payment problems in the face of fresh, tougher U.S. sanctions.
Iran is India's second biggest oil supplier   

Mumbai Retail Real Estate : 2012 Forecast

Mr. Ramesh Nair
Mumbai Retail Real Estate : 2012 Forecast
by Mr. Ramesh Nair

India's commercial capital Mumbai’s retail real estate sector looks buoyant in 2012. We will see some of the city’s older malls being repositioned, refurbished and re tenanted.

Vacancy levels will increase in several poorly designed &  unfavorably located malls.
Interestingly, the redevelopment of several old residential societies in the Mumbai city will give rise to an unexpected availability of more high street retail space. More store within store formats, drive through lanes & pick up zones will be implemented in 2012.

Island city Mumbai’s retail space landlords are taking a progressive view of the sector’s future. They have already begun to express greater willingness to opt for a revenue-sharing arrangement, rather than insisting on pure rental based deals. Despite the political reverberations, we expect FDI (Foreign Direct Investment) in multi-brand retail to be officially allowed in the second half.

About the author.
Mr. Ramesh Nair is  Managing Director (West) in  Jones Lang Laslle India


Share Review : Tata Sponge Iron

For 3Q FY 2012, TSIL’s (Tata Sponge Iron Ltd’s) reported a 23.3% y o y decline in its revenue to Rs.131 cr, as compared to Rs.170 cr in 2QFY2011.

The company’s EBITDA margin came in at 18.8%, lower by 167bp y o y, from 20.5% in 3Q FY 2011 due to in creased employee expenses as a percentage of net sales from 2.9% in 3Q FY 2011 to 4%
in 3Q FY 2012.

Profit for the quarter stood at Rs.17 cr as compared to Rs.22 cr in
3Q FY 2011. We expect ramp up in sponge iron volume sales in FY 2013E, which
would lead to improvement in the top line.

Hence, we maintain our Buy recommendation on the stock with a target price of Rs.382, based on a target P/B
of 0.9x for FY2013E.

Review by Angel Broking
6th Floor, Ackruti Star, Central Road,MIDC
Andheri (E) , Mumbai-93
Main             : (91-22) 3935 7600  Extn : 6956
Website         :

30 acres Lay out, plot of land for Bulk sale ...!

About 50 km from Chennai next Tambaram,  valajapath - Chengalpattu road is ready for a 30 acre Lay out plot of  land for  total (Bulk)  sales.

In this section of plot of  land located on State Highway.  approval by  DTCP.
It is 8 km from the old Sivaram and  25 km from Oragadam Industrial estate

Per square feet Price: Rs. 250.
Width of road:  50 feet, 40 feet and 30 feet

Total Plots: 366
Plot Size: 1500 sq. ft., 1680 sq. ft., 1800 sq. ft., 2000 sq. ft., 2100 sq. ft. and 2,400 sq. ft.

Water supply: 24 hours Palarru water

Ground water level : Typically about 20 feet

Total area 12,00,949 sq.ft
Road 3, 33,241 sq.ft
Park 1,21,740  sq.ft
Total salable area 7,45,968 sq.ft


Balaji, Chitra Devi
97899 15338, 97907 92485
Mail to


No More Loans Against ULIP Policy

The Indian insurance regulator IRDA (Insurance Regulatory and Development Authority) plans to ban loans by life insurance companies against ULIPs (Unit Linked Life insurance Policies). It is not approving any ULIP plans with a clause of loans against policy.

Now a days, IRDA has rejected any new ULIP plans and has asked to refile it after removing the loan facility clause. It is confirmed by a senior official at a big  private life insurance company.

According to Mr. J. Hari Narayan, Chairman, IRDA “Fundamentally, ULIPs are risky products, given that they are linked with the stock market. In case the fund value drops dramatically due to negative price movement, the risk would come to the insurers. Hence, loans against such products are not advisable."

Insurance officials said,''The move might further dent the sales of ULIPs as the loan facility acted as an added feature. The facility first came into force after IRDA raised the lock in period for such plans by 3 years to 5 in September 2010. The loan facility was one of the selling points for these long-term insurance products. So, this would impact the sales of unit-linked plans"

ULIP Loan:

#  2010, September Loans against ULIPs started

#  75% of the fund value could be the maximum loan amount

#  Interest rate offered was about 10.75-11% per annum

#  Highest loan tenure could equal the policy tenure

# 90% of the fund value can be the maximum loan amount for traditional policies

Traditional plan Loan:

# Loans up to 90% per cent of the surrender value.

# The rate of interest varies from 9.5-12% per annum.

#  The loan tenure can be as high as the policy term.

Mr. J. Hari Narayan, also said, "Traditional/ endowment plans are safer products and we have no issues with a loan facility against these plans".

World Press Freedom: India's ranking falls to 131

India's ranking in a World press freedom index has fallen significantly in the past year, putting it behind countries such as Liberia, Kyrgyzstan, South Sudan and Albania.

Our country fell to 131 out of 179 on the 'Press Freedom Index" compiled by Reporters Without Borders (RWB), from 122 last year.

The  US organisation RWB said, ''The Press Freedom Index uses about 45 different criteria like censorship of news media, physical attacks on journalists, and the ability of the media to investigate and criticise” &  “reflects the degree of freedom that journalists, news media in each country and the efforts made by the authorities to respect and ensure respect for this freedom”

Highlights of Press Freedom Index..!

^ The top position was shared by Finland and Norway, followed jointly by Estonia and Netherlands.

^ The Arab nations of Syria, Bahrain and Yemen were the biggest fallers, reflecting the crackdowns on the popular uprisings.

^ The US fell 27 points to 47, as a result of the arrest of journalists covering the Occupy movement.

^ China fell to 174 because of a stepping up of Internet censorship and increased control of news outlets as a result of local protests.

^ Eritrea remained at the bottom position, a position it has held since 2007.

^ In India, RWB pointed to the exposure of violence of journalist as a result of the ongoing conflicts in Jammu & Kashmir, Chhattisgarh, as well as intimidation of journalists by mafia groups in the country's biggest cities.


Indian Retail Real Estate 2011-12

Indian Retail Real Estate 2011-12 :

By  Shubhranshu Pani

Judging by feedback obtained from a cross section of Indian retail players, it emerges that most retailers perceived 2011 to be a flat year. In fact, many retailers experienced decelerated sales – the affected segments included the apparels and footwear industries, which on the whole  grew by only 9% as compared to the 12% of the preceding year.
Shubhranshu Pani

Reduced Demand..!
Stagnation was evident in many stores in the larger cities, and these dynamics were evident in the reduced demand for organized retail spaces for expansion. Smaller retailers in the unorganized sector fared marginally better, with regional players taking the smallest hit.

That said, certain apparel retail segments like women’s Western wear did grow from 15% to 25% in 2011. The home furnishing and interior décor also saw encouraging sales, with moderate expansion by players in this segment seen in many cities

Health care products did reasonably better, with the wellness category showing greater growth than baseline pharmaceuticals. Hypermarkets also saw reasonable growth, especially in the food segment. Likewise, electronics saw healthy growth and reasonable absorption of additional organized retail real estate.

Regions: East & North India better..!In terms of regions, retailers in East and North India saw better growth than the South, with West India being the worst hit. In terms of cities, Tier 2 was more buoyant than Tier 3, with Tier 1 cities displaying the lowest growth rate. In fact, it is now apparent that cities like Pune and are significantly over-retailed. Mumbai and Bangalore show more promise for cautious expansion in the current year.

In general terms, many retailers in 2012 are stuck with unsold stock from Q4 2011. This fact will spawn a lot of earlier-than-usual sales, with a definite impact on profit margins. We expect various cost-saving measures by retailers to kick in from April 2012 onwards.
Prospects For 2012: Real Estate..!
Retail performance and therefore expansion in terms of real estate is heavily wired into the country’s macro-economic performance. Economic growth for 2012 is pegged by most retailers at 6.8 to 7.2%, and inflation is likely to level off at 6 to7%.  Most retailers expect a flat year in terms of profit margins, growth and expansion.

This sentiment applies most to the first quarter, with 4Q 2011 promising a reduced off-take as a result.  Inventory pileup will necessitate sales to start from January itself. Food sales will be the early indicator of mood for next 2 to 3 quarters.

Union Budget..!
Hopes are being pinned on the Union Budget which, if favorable to retail, would indicate at least marginal growth in the second half. Capital will be an issue for many retailers in 2012, and increased consolidation of operations is almost a certainty in some categories. Many new store launches will be postponed and retailers will focus on making their existing stores more profitable.

Most retailers feel that prices will need to be corrected and more entry-level product require to come in during the year. They will monitor cash flow carefully, which means that new store launches will be scarcer than in 2011. Expansion will be non-aggressive at best, with the highest demand for retail spaces coming from consolidation rather than actual growth. We are likely to see a lot of exits from non-viable stores during the current year.

About the Author..!Shubhranshu Pani is  Managing Director , Retail Services, Jones Lang Lasslle India                                                              

Mr. Square Feet : Power Welfare Society at Hyderabad

Mr. Square Feet, a company focused on providing end to end solutions to a house buyer, recently announced the launch of Power Welfare Society  (PWS) situated at Narsingi, Gachibowli in Hyderabad.

It situated near Gachibowli , the project has close proximity to the airport, and the nearby IT hub. The rate of the society needs special attention here, since, PWS is a society and the sales are at cost to cost basis – a phenomenon otherwise unheard of.

The PWS project is marketed and sold exclusively through Mr. Square Feet, the first ever buyer’s representative for property dealings.

Mr. Ravi Varma,COO, Mr. Square Feet said, “We are proud to be the exclusive partner for the sale of this esteemed project. The aspirations of the buyers are constantly on a rise and so is the demand for houses in strategic locations, and premium properties like this are a must-buy for those looking to invest.”

Mr M.VaraPrasada Rao, President Power Welfare Society
said, “We are happy to be associated with Mr. Square Feet. Buyers are not only guided right but also handholded throughout the process of buying a home, which adds value to our prestigious project”

Highlights of Power Welfare Society.!

#  The PWS project came into being when Power Grid and NTPC employees pooled in order to develop a high end residential gated community.

# This is being constructed by Tempus Infra Projects and spreads across 7.5 Acres of land with 70% of open space. The total built up area is about 14 lakh square feet of salable area, comprising of  seven Blocks of varies sizes.

# The residential property is a 25 storeyed structure with spacious 3 B H Ks of 1,800 square feet in Block C2, that offers state of the art amenities such as leisure club facilities, auditorium and commercial centre, swimming pool, gymnasium with contemporary and stylish interiors.

# The project also has ample parking space for over 1,350 cars. The society has a temple in the complex. It is the only high rise in Hyderabad with an 18 inch external wall, and has a minimum of 20 feet gap between any 2 Flats.

About Mr. Square Feet..!

A professionally-managed PE (Private Equity) invested Company, Mr. Square Feet is a real estate solutions company, that promises to make property hunting a pleasurable experience.

Olympia Grande launched in Chennai

Olympia Group's new real project christened 'Olympia Grande' has been launched.

Olympia Grande would be the first high rise residential building in Pallavaram with stilt plus 11 floors.

Highlights of Olympia Grande..!

# The project would have 800 flats about broken up into 2,  2.5 &  3 BHK and the total project size is about 9 lakh square feet.
#  The project being just 2 km away from the airport is another added advantage.

#  It Would be on a 7.5 acre parcel of land on main Pallavaram road opposite the newly opened Pallavaram Thoraipakkam Bridge.

#  The location of the project is one of the main USP of the project. This project is centrally located connecting –  OMR, ECR, GST (till Mahindra World City) to Oragadam and SBD / CBD. .

# The transport options and basic amenities are unparalleled with all modes of transport available .

 # Olympia Grande has a boutique club with swimming pool, gym, party hall &  indoor games.


Indian Ceramics Show : March 20 to 22, 2012

With the highly successful 2011 Indian Ceramics exhibition. Bookings for the Indian Ceramics Show  2012 will going on.
The event will be held in Ahmadabad (Avenue: Ahmadabad Exhibition Centre) and is the 7th in the series, on the 20 to 22 March, 2012.

Nearly 900 square metres was re-booked ON SITE during the 2011 show, and there is some 1,250 still being negotiated.

Upgraded sanitary facilities and services.
Greatly improved catering and on-site food provision, through a partnership with Le Meridien Hotel, Ahmadabad. This leading 5 star hotel will have total control over the catering area, the exhibitor reception and will also provide a waiter service to individual exhibition stands offering a wide range of beverages and foodstuffs for all palates.

On-site Internet access:

With potential technology suppliers to attempt to overcome the difficulties of establishing a temporary wireless network on site, and will endeavour to do that before the show.

   An international display advert campaign - directed purely at visitor promotion.
   Constant media updates to the press, digital news sites, ceramic portals.
   E-newsletters to our unsurpassed database.
   Close liaison with Associations, Institutes, Ceramic Cluster Directors and Government.
   Special attention to South Asian neighbouring states; broadening the customer base.
   Tickets delivered to every ceramic manufacturer in the region.
   Bespoke invitation scheme for our exhibitors.
   Advertising hoardings in Morbi, Thangadh, Surat, Rajkot, Himatnagar, Ahmadabad and other key locations - a roadside reminder.
   Web advertising and strong ties with our Media Partners.

About Indian  Ceramics Sector..!
India needs top processed materials, modern machinery, technology transfer, automation, quality and expertise. With over 75% of the ceramics manufacture taking place in the Gujarat State, has become as one of the leading global centres for all forms of ceramic production.

New markets at home and abroad for their ceramic products, the rising disposable incomes of the growing middle class and 4 crore units of housing shortage all go some way to telling the Indian ceramic industry story.

As a result of all this, the Indian manufacturers need better materials, higher standards of technology, quicker, cleaner and more efficient machinery, built-in potentials for expansion, quality control systems & much more.

For Stall Bookings...

Des Burston
Tel:+ 44 (0) 203 239 6759

Ivan McGrath
Tel:+ 44 (0) 203 239 6759

China Agent
NSEN Business & Exhibition Co.,Ltd
09 Building B,East of China Ceramics Industry Headquarters,
Ji Hua Xi Road,Foshan City,Guangdong, China
Contact: Crystal Liu
Tel: + 86-757-82629902, E:

Reservation Hotline:
Tel:     + 44 (0) 203 239 6759 Fax: + 44 (0) 207 183 7196

Near Oragadam 1200 sq. ft plot Rs .1.75 lakh

Next to Chennai,  Oragadam is now a big Industial estate. About 10 km from the Orakatam located at a distance, the Old Sivaram - Linkapuram.

1,200 square feet plot of  land is Rs .1.75 lakh .

 This Panchayat approval lay out is nearly completing.

While building a house in the future, to bring sale of investments, although it is possible to achieve a good profit.

Good water supply, ventilation facilities, transport facilities available.
This site is near by Temple Green flats and Aaathi College of engineering.

Chitra Devi

97899 15338, 97907 92485

Mail to


Tamilnadu: New Guideline value implemented on February, 2012 ?

The Registration Department of Tamilnadu has launched the process of  implementing new guideline values. The last revision was in 2007 and the current revision will realign the rates in line with the prevailing market prices. This exercise will help increase the revenue from this levy.

After, the draft of the guideline value is placed for public viewing has been modified.
Then final guideline draft has now send for  Tamilnadu Chief Minister Ms. Jayalalitha's approval . If she sign, it will be effective immediately.

 Tamil Nadu Registrations Department sources (Some unnamed officials) saying,'' Chief Minister's desk awaiting Ms. Jayalalitha's  signature. If she signed quickly, 1st February (2012) will be effective. If such a late date, it will be March, 2012 to ensure effective"

Government of Tamil Nadu, after 2007 guidelines value did not increase since it increases the current value is approximately two-fold.
Thus, the the black money transfer in property resistor greatly reduced. At the same time, the amount will be spent by public significantly increasing

In Tamilnadu, the stamp duty of  6%, surcharge of  2% and registration fee of  1% are set for real estate property registration. 

Chennai Real Estate Agents Association : A to Z

M.R. Nazeerudeen
Chennai Real Estate Agents Association (CREAA) a non profit entity started in 1999, formed by competently Professtional people who are principal Real Estate Consulting Companies based in Chennai, Capital city of Tamilnadu. .


A decade back, few like minded people united together and conceded this association called CREAA, which now has people, who are and been catering to multiple national Companies and Individuals in the areas of Commercial, Rental, Lease, Retail, Layouts and Residential Flats &  Real Estate consulting for more than a decade across the Tamilnadu state.

CREAA is gaining popularity among the public and also among many Realtors, who want to become a member in this association and have started to enter  for membership.

Across the globe CREAA website will reach to millions, through its association with NAR - India (National Association of Realtors - India), NAR -USA and ICREA (International Consortium of Real Estate Associations -
Bhadresh - Mehta

In the year 2008, CREAA incorporated itself as a member of NAR India at a grand function held in Bangalore. At the same function NAR India with all its associate members was inducted as a member of ICREA.

Online Examination..!
In CREAA, it is made mandatory that all the members should appear for an online examination called RE-MET conducted by NAR India and all CREAA Members are provided with an I.D. Card. CREAA Members are honest and transparent when dealing with their clients and also among themselves.

Current Members:

AJ Shelters M. Jaya Kumar
Arumugam Reality Arumugam
A.P. ARUN & HARISH Arun & Harish
ASHISH AHUJA Mr. Ashish Ahuja
AVR India Realty LLP A.V.R.Varghese
Bahri Estates Pvt Ltd Hemant bahri & Swaminathan
Big Bull Realty P.Shivaprasad
CHATTELS INC Albert Joseph & Amit Damodar Chugh
Chennai Dream Homes Sujatha Durai
Clearway Properties Mujeeb Rahmas
Deam Castle Services (P) Ltd S. Venkataramanan
Dharthi Realty Pvt Ltd P.S.M.Nath & Dinesh P
GANAPATHY ESTATES Sohail Saroshi & Nabil Saroshi
Green Earth Properties Services (p) Ltd A.V.Murali
Homes and properties S.Nagarajan
Itek Realty N.Anand Kumar
JK Estates Joseph Jose
Kenra Realty T.C.Bala
Konnect realty U. Vijay
 KVK Developers (P) Ltd D.Kasiviswanathan
Lalit Realotrs Lalit C Shah
Mancini Realtors Manoj A. Chandani
Nathan's Realty L.Chandranath
PANCH TATVAS Sanjaih Bokaria
 Procons Group D. Balamurugan
Raam Estates Manavalan Govind
Red Rose Realtors C.T.Kuppusamy
Reyaans Properties (P) ltd. S.Kamalanathan
RSN Realty Ramasuryanarayan
RVS Fortunes R. M.Rajendran
Sakthi Realities Sakthivel
SILVERLINE REALTY PRIVATE LTD Farook Mahmood & Zanood Mahmood
Sri Gangai Realty Sathyavel
Srinivasa Real Estate S.Gowthaman
VA SHELTERS G. Vishwanathan
Vijaym Property Consultancy POOVARAGHAN
Vishal Foundations S.Satyanarayana
Mehta Wallcliffs Realty International Pvt Ltd Mahesh Kumar

Web Site:

President- M.R. Nazeerudeen

Ace Realty Connection,
G - 28, Eldarado Complex, 112, Nungambakkam High Road,Nungambakkam,
Chennai 600 034               
Mobile: +919841061999  Phone: 0442822 7273 / 3

Shop No. s 18, 97/113,
Purasawalkam High Road, Kellys,
Chennai-600 010. Mobile: +919840023725
Phone: 04426423725 / 42041139


Prompt Property Fair : March 16 to 18, 2012

Prompt Property Fair provides unique opportunity to meet the leading Builders and Flat Promoters to develop partnerships and obtain the latest trends in the property market.
It will be held at Chennai Trade & Convention Centre, Tamilnadu being organized by Prompt Publications.

Date: March 16 to 18, 2012

About Prompt Publications..!
Prompt Publication, a successful publisher of Tamil Magazine named as 'Builders Line", the most sought by Tamil people in India. Further to this, Prompt Publication has few other diversification's such  Exhibition Division, Directory Division etc…

It founded in November 2000 with a broad minded idea of Mr. E.Udayakumar to bring out the monthly magazine in Tamil.

Head Office
          PROMPT Publications & Trade Fairs

                 No: 43/19,Aziz Mulk 1st Street,  Thousand Lights, Anna Salai,
                 Chennai-600006. Phone No: 91-44-42142483/38, 91-44-42142770/71
                 E-mail: ;    

Branch Office
Old No:345,New No:293, 25,D.J.Complex,
2nd Floor,7th Street, Gandhipuram,Coimbatore - 641012
Phone No: 0422 - 3259160    

Concrete Show India : FEB 23 to 25, 2012

Concrete Show India is a unique platform for the confluence of technology &  business pertaining to concrete supply.

The concrete industry is a fast growing name in terms of business development. This show is the place where all the people of this industry come and exhibit their products, methods, technologies, machines and equipments. This is the best networking area for all concrete industry people and suppliers.

Concrete Show India is the biggest name among all the conferences of its genre, bringing into limelight the most creative methods in concrete technology. Attracting thousands of exhibitors and top names of this industry from many countries, the people gather here to share their skills and knowledge.

Venue: Bandra Kurla Complex, Mumbai.

Date:  FEB 23 to 25,  2012

Organised By:
UBM India Pvt. Ltd.

About UBM India Pvt. Ltd..!.

UBM India Pvt. Ltd is a renowned media company in India. UBM worldwide is spread in more than 30 countries; while its division UBM India Pvt. Ltd., started functioning in May 2006 with Mumbai as its head office.
Its branches are in Delhi, Bangalore, Ahmedabad &  Chennai.  UBM India through its trade shows, provides a global platform for the leading buyers & sellers and brings them together online and in print. The company provides them with all the necessary information for conducting their businesses effectively. It is also known for organizing prestigious events like Entech India, Hotelex India, Informex India and many more. UBM worldwide organises 300 events, publishes 200 magazines and periodicals and host 200 websites.

UBM India Pvt. Ltd - The India Head OfficeSagar Tech Plaza A 615-617, 6th Floor, Andheri Kurla Road
Saki Naka Junction, Andheri East, Mumbai -  400 072.
Tel : +91 22 6612 2600, Fax : +91 22 6612 2626-27

UBM India Pvt. Ltd - New Delhi Office
Unit 1604 and 1605 16th Floor, Narian Manzil
23, Barakhamba Road , Connaught Place
New Delhi 110 001.  Tel: +91 11 2376 5551, Fax: +91 11 2376 5552

UBM India Pvt. Ltd - Bangalore Office
202, Second Floor,Saleh Centre
18/10, Cunningham Road ,
Bangalore - 560052, Ph : 91-80-40977035/36/37/38

UBM India Pvt. Ltd - Chennai Office
45 B Pulla Avenue, Thiruvika park
Shenoy Nagar, Chennai- 600030
Tel: 044 45530071/2/3
Fax: 044 42698747


Investing Mantra's - Share Market Guru Warren Buffett Part 2

Warren Buffett and Obama
"will sell investors anything they will buy. Second, speculation is most dangerous when it looks easiest." - Warren Buffett


"The fact that people will be full of greed, fear or folly is predictable. The sequence is not predictable." - Warren Buffett


"Questioning GAAP figures may seem impious to some. After all, what are we paying the accountants for if it is not to deliver us the "truth" about our business. But the accountants' job is to record, not to evaluate. The evaluation job falls to investors and managers." - Warren Buffett


"We've long felt that the only value of stock forecasters is to make fortune tellers look good. Even now, Charlie and I continue to believe that short-term market forecasts are poison and should be kept locked up in a safe place, away from children and also from grown-ups who behave in the market like children." - Warren Buffett


"You ought to be able to explain why you're taking the job you're taking, why you're making the investment you're making, or whatever it may be. And if it can't stand applying pencil to paper, you'd better think it through some more. And if you can't write an intelligent answer to those questions, don't do it." - Warren Buffett

Sensex top in Leap year, higher than previous year's high

It is been a observed that Sensex (Bombay Stock Exchange - 30 Stocks Index) in leap years the peaks of previous years have been broken and an new high is made.
Lookout by the previous history here are the sensex highs in leap years since the year past 30 years from 1980.

30 year History 

Leap Year
Sensex High
Sensex High
New High?


Education Loan : Documents required

Documents required for applying a Education Loan in India. 

All students are required to submit mark sheets of last qualifying examination, Admission letter of the Educational Institute, poof of admission, scholarship, schedule of expenses for the specified course - giving details of year wise fee, boarding and lodging expenses, his/her bank account statement for the last 6 months, an income tax assessment order for the previous 2 years, a brief statement of assets and liabilities, of the co-borrower, which is usually the parent or guardian and proof of income, if any.

Some banks require all or any of the following documents as pre sanction documents:

To furnish the following documents along with the completed application form. Relevant information would relate to the guardian and the student both, when the loan is jointly taken.

# Attested copies of documents for proof of age/date of birth and proof of residential address.
#  Mark sheet of last qualifying examination for school and graduate studies in India

#  Proof of admission to the course

#  Schedule of expenses for the course

#  Copies of letter confirming scholarship, etc.

#  Copies of foreign exchange permit, if applicable.

#   Two 2 passport size photographs - applicant, co-obligants and guarantors

#  Statement of Bank account for the last 6 months of borrower (student applicant), co-obligant, guarantors

#  Income tax assessment order not more than Two years old for parents / co-obligants, guarantors.

#  Brief statement of assets and liabilities of borrower.

# If you are not an existing bank customer you would also need to establish your identity and give proof of residence.

#  Details of collateral security along with valuation certificate of Govt approved valuer (if any).
#  Copy of Passport / Visa, cost of air fare (documentary detail) in case of studies abroad.


High Use of Black Money in Indian Real Estate: Finance Ministry

The NIPFP (National Institute of Public Finance & Policy) has asked the IG (Inspector Deneral) of Registration and Controller of Stamps to submit the details of the 3 highest value transactions that happened in the past two years in every area in Mumbai &  Pune. It has also sought the number of sale documents registered, registration & stamp duty paid as well as ready reckoner rates fixed in every area.

Estimation of Unaccounted Incomes in India..!

The information has been demanded for a study called 'Estimation of Unaccounted Incomes in India'. The research was commissioned last June (2011) by the CBDT (Central Board of Direct Taxes), which falls under the Union finance ministry.

The institute began the study which means to review recent property deals to check for the use of black money with Delhi and adjoining Gurgaon & Noida before turning it into an all India exercise.

Incidentally, the first study on unaccounted money was conducted by NIPEP in 1985 wherein the estimates which are not considered reliable varied from $ 46,200 crore to $ 1.4 trillion. (Trillion = one lakh)

The CBDT commissioned the new study to unearth the use of black money in property deals that largely goes undetected due to the difference in market prices and registry rates set by state governments.

According to Indian income tax officials, the high use of cash in secondary market transactions is an open secret.

Car Parking Space Sold..!
In searches conducted over the last 2 years on Mumbai builders, have come across property deals involving huge amounts of cash. Though banned by Supreme Court, parking space is sold for cash ranging between Rs. 2 lakh and Rs. 25 lakh per car. Income tax department estimate the cash component varies from 20 to 40% of the total flat cost.

It has become common place for buyers to under-report the transaction to save on registration cost. For sellers, especially those who do not intend to use the money to buy new property, it means a capital tax burden, which they want to evade.

Big Generator of Black Money
According to Indian Income tax officials, the real estate sector is a big generator of black money. This, despite the fact that registrars nationwide have to report all realty transactions valued at Rs. 30 lakh and more. The income tax department normally compares the info it has with the data given along with the tax returns using the PAN (Permanent Account Number) furnished by taxpayers while registering property.

Src: Times of India.

Indian Hotels: Net Proft at Rs. 50 crore

Tata group company, hospitality major Indian Hotels that operates hotels and resorts under the Taj brand has posted a net profit at Rs. 50 crore for the third quarter ended December 31, 2011. The net profit for the corresponding quarter of the last fiscal was Rs 50.29 crore.

Its net sales for the third quarter ended December 31, increased 7.44% to Rs. 521.48 crore, as against Rs. 485.34 crore in the quarter ended December 31, 2010.

Indian Hotels is set to open new hotels under Vivanta brand at Bekal, Coorg and Gurgaon after having set up a new one at Coimbatore (Tamilnadu).


Indiabulls Real Estate: Net dips 45% to Rs. 42 crore

Indiabulls Real Estate has reported a 45% decline in consolidated net profit for the 3rd quarter ended December 31, at Rs 42 crore.

The consolidated net profit is Rs 76.61 crore in the corresponding period last financial year.

The net sales of the Indiabulls Real Estate fell during the quarter by 10.81% to Rs 356.47 crore from Rs. 399.66 crore in the year-ago period.

Unregistered flats in Noida: Owners to pay fine

About 3,000 flat owners in Group Housing societies of Noida who have failed to register their properties may have to pay fine after January 25, 2012

The Supreme Court has set the deadline on January 25, 2012 for the flat owners in various group housing societies to get their property registered.

The flat owners argued, ''The societies had purchased the plot of land at their cost and after paying the stamp duties, the flats were developed and allotted to them, hence, sub-lease made no sense."

The Noida Authority & the UP Stamps and Registration Department said,'' The absence of sub-lease caused a tremendous loss of revenue to the government".


L&T : Net Profit up 18% to Rs. 992 crore

Indian construction and engineering major, Larsen &  Toubro (L&T), has posted net profit for the Q3 ended December, 2011, at Rs. 992 crore as compared to Rs 841 crore in the corresponding quarter last fiscal, beating estimates.

Net sales for the third quarter stood at Rs. 13,999 crore, up 23 % from Rs. 11,396 crore in the same quarter last year.

Other income for the 3rd quarter was posted at Rs. 449 crore as compared to Rs. 251 crore in the same quarter a year ago.

L&T's gross revenue grew to Rs. 14,155 crore, a 23% increase from Rs 11,492 crore in the year-ago period.

During the period, order inflow was at Rs. 17,129 crore. The  9 month order inflow from April to December (2011) was at Rs. 49,415 crore.
The L&T needs an order inflow of Rs. 34,593 crore to meet its 4th quarter (Q4) guidance.

Tax-free Bonds : Hudco, IRFC

IRFC (Indian Railway Finance Corporation) & Hudco (Housing and Urban Development Corporation), are tapping the bond market to raise about via Tax free bonds Rs. 11,000 crore starting from January 27, 2012.

Both, IRFC &  Hudco, are launching their public issue of tax-free, secured, redeemable, non-convertible debentures on January 27, with coupon rate ranging  8% to 8.20%

In case of IRFC, the company is offering coupon rate of 8% per annum for tranche-1 series bonds with a maturity of 10 years and 8.10% per annum with a maturity of 15 years. The issue opens on January 27 and closes on February 10, 2012.

IRFC intends to utilise the issue proceeds for financing the acquisition of rolling stock and financing the capacity enhancement works in the Indian Railways.

Hudco is offering 8.10% for tranche-1 series 1 bonds and 8.20% for tranche-1 series 2 bonds on per annum basis. The issue opens on January 27 and closes on February 6, 2012.

Lead managers to IRFC’s tax-free bond issues are SBI Capital Markets, AK Capital & ICICI Securities.

Lead managers to Hudco’s public issue of bonds are Enam Securities and SBI Capital Markets..

Following the issue, both the tax free bonds would be listed on the NSE (National Stock Exchange) & BSE (Bombay Stock Exchange).

Rating firm CRISIL has assigned ‘AAA/Stable’, while ICRA and CARE have given `AAA' rating for IRFC, indicating highest safety for timely servicing of debt obligations.

For Hudco, credit rating firms CARE and FITCH have assigned `AA+' rating.

Recently, NHAI (National Highway Authority of India) through tax-free bonds, where, it mopped up Rs 10,000 crore, though, the issue got applications for Rs 12,000 crore.
Another one  government controlled company PFC (Power Finance Corporation) is raising Rs 5,000 crore via tax-free bonds, while REC (Rural Electrification Corporation) may float a Rs 4,000 crore bond issue by March (2012) end.

All About Multi Commodity Exchange of India

Multi Commodity Exchange of India Ltd (MCX) is a state-of-the-art electronic commodity futures exchange. Headquartered in Mumbai, The demutualised Exchange set up by Financial Technologies (India) Ltd (FTIL) has permanent recognition from the Government of India to facilitate online trading, and clearing and settlement operations for commodity futures across the country.

1.80 lakh trading terminals..!

Having started operations in November 2003, today (2011, September), MCX holds a market share of over 80% of the Indian commodity futures market, and has more than 2100 registered members operating through over 1.80 lakh trading terminals, across India.

The Exchange was the sixth largest commodity futures exchange in the world, in terms of the number of contracts traded in 2010.

40 commodities

MCX offers more than 40 commodities across various segments such as bullion, ferrous and non-ferrous metals, energy, weather and a number of agri-commodities on its platform. The Exchange is the world's largest exchange in Silver, the second largest in Gold, Copper and Natural Gas and the third largest in Crude Oil futures, with respect to the number of futures contracts traded.

The Exchange strives to be at the forefront of developments in the commodities futures industry and has forged strategic alliances with various leading International Exchanges, including London Metal Exchange (LME), New York Mercantile Exchange, Shanghai Futures Exchange (SHFE), LIFFE Administration and Management , Baltic Exchange Limited (BEL), Taiwan Futures Exchange ( TAIFEX), among others. For MCX, staying connected to the grassroots is imperative. Its domestic alliances aid in improving ethical standards and providing services and facilities for overall improvement of the commodity futures market.

MCX has been certified to three ISO standards including ISO 9001:2008 Quality Management System standard, ISO 14001:2004 Environmental Management System standard and ISO 27001:2005 Information Security Management System standard. The Exchange’s platform enables anonymous trades, leading to efficient price discovery. Moreover, for globally-traded commodities, MCX’s platform enables domestic participants to trade in Indian currency.

Key shareholders..!

MCX promoted by FTIL, MCX enjoys the confidence of blue chips in the Indian and international financial sectors. MCX's broad-based strategic equity partners include State Bank of India and its associates (SBI), National Bank for Agriculture and Rural Development (NABARD), National Stock Exchange of India Ltd (NSE), SBI Life Insurance Co Ltd, Bank of India (BOI) , Bank of Baroda (BOB), Union Bank of India, Corporation Bank, Canara Bank, HDFC Bank, Fid Fund (Mauritius) Ltd. - an affiliate of Fidelity International, Merrill Lynch, Euronext N.V. and others.

MCX's world ranking

            No.1 in Silver
            No.2 in Gold, Copper & Natural Gas and
            No.3 in Crude Oil
            in terms of number of futures contracts traded in 2011

Key Milestones of MCX

March 15, 2011              MCX   recorded its highest daily turnover since inception of Rs. 718.76 billion
October 20, 2010                         MCXobtains renewal of its ISO 9001:2008 certification from Bureau Veritas Certification (India)
June 7, 2010                             MCX signed an MoU with Shanghai Futures Exchange
December 3, 2009                     MCX  is the sixth largest commodity futures exchange globally in terms of the number of contracts traded on the exchange for the period January to June 2009
November 30, 2009                   MCX  launched “Exchange of Futures for Physicals” (EFP) transactions
October 14, 2009                       MCX released India’s first Yearbook on Indian Commodity Ecosystem in collaboration with PricewaterhouseCoopers
July 18, 2008                            Launch of the Gujarati and Hindi version of website by our Company
June 9, 2008                           Launch of futures in CER (Certified Emission Reduction) by our Company
June 3, 2008                          MCX was granted membership to the International Organisation of Securities Commissions (“IOSCO”)
May 23, 2007                        MCX  obtained ISO/IEC 27001: 2005 certification
July 24, 2006                         MCX signed an agreement with Euronext.LIFFE
June 12, 2006                         MCX  teamed up with the Department of Posts, Government of India, to launch Gramin Suvidha Kendra in Jalgaon, Maharashtra, for                 information dissemination and query redressal on agricultural issues to farmers using the Indian postal network
June 5, 2006                              MCX signed a license agreement with NYMEX
December 1, 2005                     MCX  entered into a MoU with the University of Mumbai for creating a chair in its department of economics
October 25, 2005                       MCX  entered into a license agreement with London Metal Exchange  (“LME”) for the use of the LME’s official prices as the basis for settlement of certain futures contracts
June 14, 2005                           ‘Commodity Suchana Kendra’, a joint initiative between our Company, Maharashtra State Agricultural Marketing Board (“MSAMB”) and NSEAP to link up all Agriculture Produce Market Committee (“APMC”) markets, was launched at the Agriculture Produce Market Committee, Navi Mumbai
June 7, 2005                              Launch of composite commodity futures index (‘MCX-COMDEX’) by MCX
November 29, 2004                   MoU entered into between FTIL and NAFED to create a national level agricultural spot exchange
December 8, 2003                     Online futures trading during evening session and through Internet trading facilities was pioneered
November 10, 2003                   First day of trading for  MCX
September 26, 2003                  MCX received permanent recognition from the Ministry of Consumer Affairs, Food and Public Distribution, Government of India
May 28, 2002                           MCX  was converted into a public limited company and our Company’s name was changed to Multi Commodity Exchange of India Limited

Awards & Recognition

2011                  MCX received the “Financial Inclusion Award 2011” from the SKOCH Foundation
2010                  MCX received the “Best Commodity Exchange of the Year” award from the Bombay  Bullion Association
2010                  MCX received the FICCI Socio Economic Development Foundation (SEDF) Corporate Social Responsibility Award 2009-10
2010                  MCX received the NASSCOM Foundation Social Innovation Honours 2010
2009                  MCX  received the “Sankalp Award” for Agriculture and Rural Innovation
2008                  MCX received the “Best Bullion Exchange of the Year” award from the Bombay Bullion Association
2008                  MCX was recognized as “India’s First Green Exchange” by Priyadarshini Academy
2008                  MCX was awarded the “Golden Peacock Eco-innovation award 2008” by the Institute of Directors