UCO Bank offers 9.90% p.a interest on FD for 111 days

UCO Bank offers 9.90% p.a interest on FD for 111 days. Click here to know more

Indian Bank introduces new term deposit scheme offering 9.10% for 91 days wef 1st March 2012

Syndicate Bank one of the nationalised schedule Bank is offering 9.10% for 91 days wef from 1/3/2012 compared to 7.75% being offered by other nationalised banks for the same duration. As per the bank officials the offer is for limited period. Also additional benefits are expected for senior citizens above age of 60 years.

For more details visit nearest branch of the bank. Ironically the bank's website is not updated with this offer but the scheme is valid and in vogue.

Syndicate Bank's new FD offers 9.50% for 90days

Syndicate Bank one of the nationalised schedule Bank is offering 9.50% for 90 days compared to 7.75% being offered by other nationalised banks for the same duration. As per the bank officials the offer is for limited period.

For more details visit nearest branch of the bank. Ironically the bank's website is not updated with this offer but the scheme is valid and in vogue.

Indian Railway Finance Corporation Limited Offers Tax Free Bonds

Ministry of Railways

Indian Railway Finance Corporation Limited Offers
Tax Free Bonds Tranche-I to Raise upto Rs. 6,300 Crore
Public Issue to Open Tomorrow
Indian Railway Finance Corporation Limited (IRFC), the financing arm of Indian Railways, is proposing to issue Tax Free, Secured, Redeemable, Non-Convertible Bonds of face value of Rs. 1,000 each in the nature of Debentures, having benefits under Section 10(15)(iv)(h) of the Income Tax Act, 1961, as amended (‘Bonds’) aggregating to  Rs.3,000 crore with an option to retain oversubscription of upto the shelf limit of` Rs. 6,300 crore (‘Issue’).

The application for subscription of Bonds should be for a minimum of 10 Bonds and in multiples of 5 Bonds thereafter. The Issue will open for subscription on January 27, 2012, and close on February 10, 2012, or earlier (subject to the Issue being open for a minimum period of 3 days), or extension by such period, upto a period of 30 days from the date of opening of the Issue, as may be decided by the Board of Directors or by a duly constituted committee of the Company. The Bonds shall carry a coupon rate of 8.00% p.a for 10 years (Series I) and 8.10% p.a for 15 years (Series II). An additional coupon rate of 0.15% p.a. and 0.20% p.a. on series 1 and series 2 respectively shall be available to Resident Indian individuals, Hindu Undivided Families through the Karta and Non Resident Indians on repatriation as well as non-repatriation basis, applying for an amount aggregating upto and including  Rs.5 lakhs across all Series in the tranche (available only to the original allottees). The Bonds are proposed to be listed on NSE and BSE. 
  
            The Bonds have been rated ‘CRISIL AAA/Stable’ by CRISIL, ‘[ICRA] AAA’ by ICRA and ‘CARE AAA’ by CARE, indicating highest degree of safety for timely servicing of financial obligations.  
  
            Investors will have an option to hold the bonds either in physical or in demat form.  The Bonds will be secured by way of a pari passu charge on the movable assets of the Company comprising of rolling stock such as wagons, locomotives and coaches.  
  
            SBI Capital Markets Limited, A. K. Capital Services Limited and ICICI Securities Limited are the Lead Managers to the Issue. Indian Bank shall be the Trustee to the Issue. 
  
            The Company intends to utilize the Issue proceeds for financing the acquisition of rolling stock and financing the capacity enhancement works in the Indian Railways. 
  
      All investors proposing to participate in the Issue should invest only on the basis of the information contained in the Shelf Prospectus and the Prospectus Tranche-1, both dated January 19, 2012. 
  
      The Shelf Prospectus and the Prospectus Tranche 1 are available on the website of the NSE and BSE atwww.nseindia.com and www.bseindia.com , the website of SEBI at www.sebi.gov.in, the website of the Company atwww.irfc.nic.in and the respective websites of the Lead Managers at www.sbicaps.com, www.akcapindia.com andwww.icicisecurities.com.  
  
            IRFC is the financing arm of the Indian Railways. 100% shareholding in IRFC is held by the President of India acting through Ministry of Railways. The Company has been notified as a Public Financial Institution under Section 4A of the Companies Act, 1956 and registered as a Non-Banking Finance Company without accepting public deposits (Infrastructure Finance Company) with the Reserve Bank of India. The Company’s principal business is borrowing funds from the commercial markets to finance the acquisition of new rolling stock which is then leased to the Indian Railways. IRFC is a consistently profit making Public Sector Undertaking that has funded rolling stock of book value of Rs.69,843 crore (5,567 locomotives, 33,856 passenger coaches, 14,90,300 freight wagons and 85 cranes and track machines) for Indian Railways (as on 30.09.2011). Net worth of IRFC as on 30.09.2011 stood at approximately Rs.4,487.50 crores with Nil Non-Performing Assets. The Company recorded a net profit after tax of Rs.485.20 crore for year ended 31.03.2011 compared to Rs. 442.69 crore for year ended 31.03.2010.

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Apna Bazaar Co op Stores introduces FD interest of which is paid in form of cash discounts

Apna Bazaar Co op So Super market introduces FD interest of which is paid in form of cash discounts. This also mitigates the need to deduct TDS on interest on such FD resulting in tax free benefit to the investor. Since the society offers interest in form of cash discounts which can be used for buying goods sold by the very society.

Also the goods including medicines at this coop stores are sold at usual discount of upto 2% on every product you buy.

Notification for Launch of 10-Year National Savings Certificate (IX-Issue), 2011 Issued

Ministry of Finance

Notification for Launch of 10-Year National Savings Certificate (IX-Issue), 2011 Issued
In accordance with the decisions taken by the Government on the basis of the recommendations of the Committee for Comprehensive Review of National Small Savings Fund (NSSF), headed by Smt Shyamala Gopinath, the then Deputy Governor, Reserve Bank of India, Notifications on changes made in various small saving schemes except 10-Year National Savings Certificate, have already been issued on 25th November 2011.
 
            The Notification for launch of new savings instrument, namely 10-Year National Savings Certificate (IX-Issue), 2011, has been issued today, the 29th November, 2011.
 
            The major highlights of this scheme are as follows: 
·         Investments in Certificate will earn Interest at the rate of 8.7% p.a. compounded semi-annually.
·         On investment of Rs. 100, the depositor will get Rs. 234.35 on maturity of the Certificate.
·          This Certificate will be available in the denominations of Rs. 100, Rs. 500, Rs. 1000, Rs. 5000 and Rs. 10,000.
·         There is no upper limit for investment in the Certificate.
·         This Certificate can be transferred from a post office where it is registered to any other post office and it can be pledged as a security.
 
            The scheme will come into effect from 1st December 2011. Details of the notification are attached herewith and can also be seen on the website of the Ministry of Finance i.e. http://www.finmin.nic.in.

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REPCO BANK SCHEME FOR SENIOR CITIZENS

REPCO BANK SCHEME FOR SENIOR CITIZENS

To mark its 42nd anniversary, Repco Bank has introduced a monthly payment
deposit scheme. Senior citizens above 60 years are eligible to deposit their
savings in this scheme for an interest of 11 per cent. The interest is payable
monthly. The period of deposit is 24 months. The bank will pay the monthly
interest up to Rs 1,000 to senior citizens at their door-step in cash. Repco
Bank was started in 1969 by the Government of India with the main objective of
rehabilitating repatriates from Burma and Sri Lanka. The bank operates across
the southern States and Puducherry. – www.thehindubusinessline.com


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Earn more in small savings in India Interest rates of Post Office Monthly Income scheme raised

Monthly Income Scheme interest rates hawve been raised to 8.2% from present 8% p.a wef 1/12/11


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Earn more in small savings in India Interest rates of PPF raised wef 1/12/2011

 Interest rate on PPF have been raised to 8.6% from current 8% wef 1/12/2011.
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Earn more in small savings in India Interest rates of Post Office savings scheme raised

 Post Office savings scheme Account interest rate have been raised to 4% annually against previous 3.5% w.e.f 1/12/2011

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Barclays Capital initiates coverage on RCOM with a target of Rs.130

Barclays Capital has initiated coverage on RCOM with a target of Rs.130 the script is curently trading at Rs.86 on BSE. RCOM is due to publish its Q2 results on 12th Nov. Stock price of the shares likely to surge as buy is recommended from all the counters.

Source: ET





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Karuturi Global stock on a upper circuit for a week

The company in its written communication to shareholders updated on its african operations. The company which is into agro products and floral products having operations in India, Africa and Ethopia suffered loss of crop recently due to floods in its Ethopia facility which caused the stock to drop upto Rs.4 a week ago. The stock started surging after the communication received from the company. Analyst have suggested a strong buy at every dips. The stock is expected to touch Rs.10 in a very short term.

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SELL BAJAJ AUTO -- says Chandan Tapadia of Anand Rathi Securities

SELL BAJAJ AUTO -- says Chandan Tapadia of Anand Rathi Securities

Chandan Tapadia of Anand Rathi Securities is of the view that one should sell Bajaj Auto .
Tapadia told CBNC-Awaaz, "Investors should sell Bajaj Auto with a stoploss of Rs 1820. The stock has a strong selling pressure. It may go down to Rs 1600 in near term."
The company's trailing 12-month (TTM) EPS was at Rs 121.10 per share. (Sep 2011). The stock's price-to-earnings (P/E) ratio was 14.02. The latest book value of the company is Rs 169.69 per share. At current value, the price-to-book value of the company was 10.01. The dividend yield of the company was 2.36%.
 


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Saraswat Co. Op Bank Ltd increases its FD rate to 10.25% for 2 years

Visit: http://www.saraswatbank.com/view_section.jsp?lang=0&id=0,88,89 for more details
Deposit Scheme Interest Rates

The interest rate on term deposits w.e.f 19th October,2011. 

Investment News: LARSEN and TOUBRO LTD. - LandT (Oman) Wins Rs. 875 Cr Orders

Larsen and Toubro Ltd has informed BSE regarding a Press Release dated November 03, 2011 titled "LandT (Oman) Wins Rs. 875 Cr Orders;
Twin Breakthroughs in International Urban Infrastructure".



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Investment News: LARSEN and TOUBRO LTD. - LandT Construction Bags New Orders Valued Over Rs. 1620 crore

Larsen and Toubro Ltd has informed BSE regarding a Press Release dated November 02, 2011 titled "LandT Construction Bags New Orders Valued Over Rs. 1620 crore"




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Investment News: Pizza maker Dominos (Jubilant Food Works) Q2 PAT up by 28%

As results just poured in analyst are suggesting buy on the stock with the price target of Rs.1000. The stock is trading at Rs.816 currently.

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Investment News: Q2 results for FY 2011-2012 of Jubilant Food works Today

Jubilant Food works which sells world renowned Dominos pizzas will be declaring its Q2 results today. The stock is trading at Rs.860 up by 3% in expectation of good results. The company had posted 51.6% growth in profit in Q1. Analyst have suggested a strong buy at this level and expect the stock to touch Rs.975.

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Investment News: Strike over at Maruti Plants

With Strike getting over the Maruti Udyog Ltd stocks are likely to rise with analyst putting the very short term target of the script to go upto Rs.1450. The stock is trading at Rs.1151 today. Also the stock has sound fundamentals and can be seen as long term investment. Maruti has a very strong order book for 2011 and 2012 and the plants are running at full capacity.




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Investment News: RA-One faces copyright issue Bombay High court directs film producers to deposit Rs.1crore before film release

A big controversy over the copyright of RA-One has emerged with Bombay High Court directing film actor Shah Rukh Khan to deposit Rs.1 crore before releasing the film and preventing any injunction against the release of the film.

The court was hearing petition filed by producer and director Yash Patnaik.

The share prices of Eros International are likely to get a set back after the stock rose almost 15% over the week ahead of the film release.


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