Sunday, December 22News That Matters

Author: wealth18.com

12% SREI Infra Finance NCD May 2014 – Details & Review

Bonds
SREI Infrastructure Finance has opened its public issue of NCDs on 09 May 2014 and it closes on 9-Jun-2014 Type of Instruments – Secured Redeemable NCDs Size of Issue - Rs 150 crores Listing – Proposed to be listed on BSE Credit Rating - AA-/negative by CARE  and AA by BRICKWORK Investment option – Monthly / Annually / Cumulative Interest for 3 yrs, 5 yrs About Company SREI is a Public Financial Institution (PFI). It is a RBI registered non deposit taking NBFC. The company provides financial services to its customers engaged in infrastructure development and construction, with particular focus on power, road, telecom, port, oil and gas and special economic zone (SEZ) sectors in India with a medium to long term perspective. Total income on a standalone basis for the period ended March 31...

Which Income Tax Forms / ITR Forms to use for AY 2014-2015

Taxation
  As Last date for filing Income tax returns is approaching (31-July), you must to looking into your financials to prepare returns.  It is important to check in which ITR form you should file your IT return. You should check , which Income Tax return (ITR) Form is applicable for you ? Salaried employees will normally need to file their Income Tax returns in ITR 1 or ITR 2 (depending on the conditions below). So please read the specific conditions to determine whether you need to file your returns in ITR 1 or ITR 2   ITR 1 You can file return in ITR 1if you have Salary income If you have income from ONE house property (excluding cases where loss is brought forward from previous years.) if you have income from other sources (except income from lottery or from horse races)  ...

No Penalty charge on pre-payment of loans – RBI

News
Do you want to pre-pay your loan, but worried about the 1-2% pre-payment penalty charged by bank ? Now you should not worry about that as RBI has directed banks not to levy any penalty on individual borrowers for pre-paying floating loans. RBI said in a notification -   "it is advised that banks will not be permitted to charge foreclosure charges or pre-payment penalties on all floating rate term loans sanctioned to individual borrowers, with immediate effect," RBI Circular  -  RBI/2013-14/582    DBOD. Dir.BC.No.110/13.03.00/2013-14 https://www.rbi.org.in/scripts/NotificationUser.aspx?Id=8868&Mode=0 Some banks are charging pre-payment penalty of up to 2% of the outstanding loans. Two years ago, RBI had barred banks from levying foreclosure charges or pre-payment penalties on home...

No penalty charges if minimum balance not kept in dormant bank account – RBI

News
Do you have old inoperative or dormant bank acount? Whether Bank is charging penalty for not keeping minimum balance? Now RBI has asked banks NOT to penalise account holders for not maintaining minimum balance in their inoperative accounts. In recent times, there have been cases where due to penalty charges in inoperative accounts, customers had negative balances. And when they went to close such accounts, they were asked to pay up. The latest RBI circular will avoid such situations.  Banks cannot slap charges on customers for not maintaining the minimum balance in inoperative savings and current accounts — in which no transactions have been made for two years. Instead of levying penal charges for non-maintenance of minimum balance in ordinary savings bank accounts, banks should limit s...

[How to] improve your Credit History & CIBIL Credit Score

CIBIL
Credit history is playing an increasingly important role in financial transactions. Almost all credit institutions today check the applicants credit report from CIBIL before deciding on loan and credit card applications. In addition to your credit report and credit score, lenders weigh a number of factors to determine if you are able and likely to repay the debt. CIBIL Credit report is a snapshot of your past and current credit relationships. It is now mandatory to maintain a good credit score for getting all types of borrowings from banks, whether it is a home loan, car loan, personal loan or business loan. What affects the Credit score? Following are some points that can affect your credit score: Irregularity in Loan repayment Default in repayment of Credit card bill Cheque bounce...

[How to] correct or rectify errors in CIBIL report

CIBIL, How to Series
In my earlier post, I explained – How to check your CIBIL report & score online. Once you have downloaded the report, you should check whether the information mentioned is correct and belongs to you. Have you noticed any entry which does not belongs to you ? Are there any errors ? Are you in CIBIL defaulter list because of wrong data? In this article, I will explain How to rectify such errors in your CIBIL report 1) Get a copy of your CIBIL report: Read my post - How to get CIBIL report / score online 2) Identify the discrepancies: Once you get the report, you should go through the report carefully. Check Basic details like Name, DoB, Address, Transactions etc are correct. Errors / Mistakes can fall in any of the 4 categories On your personal information Account details Own...

Piramal to acquire 10% stake in Shriram City for Rs 790 cr

Stocks
Piramal Enterprises, promoted by Ajay Piramal, today proposed to acquire 9.99% stake in NBFC firm Shriram City Union Finance for about Rs 790 crore.Piramal Enterprises has agreed to acquire 65.8 lakh shares for cash on preferential basis at a price of Rs 1,200 per share of Shriram City Union Finance. This represents 9.99% of the post-diluted equity share capital, Shriram City Union Finance said in filing to the BSE. Shares of Shriram City Union Finance closed at Rs 1,183.05 per unit, up 5.11% on the BSE. It has been decided to hold an extraordinary general meeting of shareholders on May 30 to seek approval for selling 10 per cent stake, the filing said. Shriram City Union Finance is a deposit-accepting non-banking financial company (NBFC) specialising in retail finance.  With assets u...

10 midcap Stocks that can give upto 36% return in a year

Stocks
As per analysts, market volumes have improved with the small and midcaps beginning to see volumes and performance. They were laggards in the calendar year 2013. We have collated a list of 10 midcap stocks which have good operating ROEs and hold potential of an earnings recovery in 12 months.  The companies are reducing debt and sales growth has been positive: Brokerage: JPMorgan 1. Indian Hotels: Peak supply in the domestic market in our view is over and a large part of the company's capex is coming to an end. Any improvement in beaten down ADRs in the domestic market could improve EBITDA significantly given operating leverage. Incremental growth is mostly via management contracts.  2. Cox and Kings: The company has become free cash positive and the UK business is now throwing up ...

Rakesh JhunJhunwala further buys 1% in Prakash Industries

Stocks
On 23-April-2014 , Rakesh jhunJhunwala again picked up 1% stake in Prakash Industries   @ 68.15 / share. he picked up 7.5 lakh shares. Earlier on 4th of April 2014 , he picked up 1.85% stake ( 25 lakh shares ) @ Rs 59  .  Read News Trailing 12-month (TTM) EPS -  Rs 11.13 per share. (December, 2013). The stock’s price-to-earnings (P/E) ratio was 6.17. The latest book value of the company is Rs 155.67 per share. At current value, the price-to-book value of the company was 0.44. The dividend yield of the company was 1.46 percent. See Portfolio Holding of Rakesh JhunJhunwala

Kosamattam Finance NCD April 2014 – Details & Review

Bonds
Kosamattam Finance Limited has opened its public issue of NCDs on 23 April 2014 and it closes on 22 May 2014 ( Closed early on 6-May-2014) Type of Instruments – Secured Redeemable NCDs Size of Issue - Rs 100 crores Listing – Proposed to be listed on BSE Credit Rating - BB by CARE Investment option – Monthly/ Cumulative Interest for 390 days, 18 months, 36 months, 66 months About Company Kosamattam Finance Ltd, headquartered in the southern Indian state of Kerala, is a NBFC lending money against pedge of used household gold jewellery “Gold Loans” in the state of Kerala, TamilNadu, Karnataka Andra Pradesh, Delhi and in the Union Territory of Poducherry. The Kosamattam group was originally founded by Mr. Chacko Varkey. His grandson, Mr. Mathew K. Cherian, the present Chairman and managi...