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Mar82014 by wealth18.comNo Comments

Merrill Lynch buys Financial Technologies shares worth RS 18 crore

Stocks

Over last 2 days (5th & 6th March 2014), Merill lynch Capital Market Espana has bought shares worth Rs 18 crore in Financial Technologies. As per the bulk deal information with Stock exchange, On Thursday, Merril Lynch acquired 2.64 lakh shares at Rs 370.07 per share for total value of ₹9.77 crore in an open market transaction. On Wednesday, it bought 2.35 lakh shares at Rs 348 per share worth Rs 8 crore in open market. Financial Technologies and Multi Commodity Exchange of India Ltd ( MCX) are under scanner of market regulator SEBI as well as other agencies for various violations. The commodity market regulator has declared Financial Technologies and Multi Commodity Exchange not fit and proper to operate a commodity exchange. The regulator also ordered Financial Technologies to bri...

Mar82014 by wealth18.comNo Comments

Reliance MediaWorks’ promoters make buy back / delisting offer

Stocks

Promoters of Reliance MediaWorks - Reliance Land Private Ltd & Reliance Capital Ltd, have offered to purchase 51 lakh shares (26.70% stake). The buy back worth Rs 251 crore (Rs 48.65 / share) is part of plan to delist the company. Reliance MediaWorks is a part of Anil Ambani-led Reliance Group. Reliance Land holds 54.54 % in the company while Reliance Capital's shareholding is 18.76 %. Together, they hold 73.30 % in the company. The offer would be open from March 20 to March 26 2014. After reaching a minimum of 90% of the equity capital and fulfilment of other conditions stipulated under the delisting regulations, the company will seek to voluntarily delist the equity shares from BSE and NSE. Shares of the company rose nearly 1% to Rs 56.55 per share

Mar82014 by wealth18.comNo Comments

Revised Schedule VI in Excel & PDF Format

Misc

The revised Schedule VI will apply to all the companies uniformly for the financial statements to be prepared for the financial year 2010-11 and onwards. The text of the revised Schedule VI is available at https://www.mca.gov.in/ . Format-of-Revised-Schedule-VI-to-Companies-Act-1956 Format_of_Financial_Statements_under_the_Revised_Schedule_VI Format-of-Revised-Schedule-VI-to-the-Companies-Act-1956-in-excel

Mar32014 by wealth18.comNo Comments

IRDA allows insurers to invest in equity ETF

News

3/3/2014 IRDA allowed Insurance companies to invest in Equity ETF subject to certain conditions. This will help to increase the inflows in Equity Market. Exchange Traded Fund - ETF are passively managed fund that tracks an index, basket of assets, commodity etc. ETFs were introduced in India in 2001. Currently, there are about 33 ETFs with assets under management of close to Rs 11,500 crore held by 6.2 lakh investors. Gold ETFs dominate the market in India. In which ETF, Insurers can invest ? Insurers can invest in only those equity ETFs are Equity ETFs & registered with Sebi and governed by Sebi (Mutual Funds) Regulations, 1996. that do not hold more than 15% of the fund in a single company. total exposure to a sector does not exceed 30%. have overall expense ratio below ...

Mar32014 by wealth18.comNo Comments

SBI MF, Axis MF launching inflation indexed funds

News

SBI Mutual fund & Axis Mutual Fund have filed papers with Sebi to launch mutual fund schemes linked to inflation-indexed bonds. These will be open-ended debt funds which will invest money in government's inflation indexed securities. they will aim to provide inflation--adjusted returns to investors. SBI MF will invest 70% & Axis MF will invest 65% of thr fund in inflation- linked bonds. However, details about amount to be raised and launch date were not mentioned. Deutsche Asset Management India last month became the first fund house to launch an inflation-indexed fund. Last year, RBI has issued Inflation indexed bonds where Interest rates is linked to Inflation & will be fixed twice a year. These bonds are launched every month and government is expecting Rs 15000 crore...

Mar32014 by wealth18.comNo Comments

Pre 2005 currency notes – exchange by Jan 1 2015

News

RBI has extended the timeline to get pre-2005 currency notes exchanged at banks. On Jan 22 2014, RBI said that it would wiothdraw all pre-2005 currency notes from April 1 2014 and advised public to get it exchanged at banks. Now, they have extended this timeline to Jan 1 2015. What is the timeline to get the notes replaced? You can get your notes exchanged by Jan 1 2015 . In the meantime, you can freely use the currency as before . It is still a LEGAL TENDER. How to identify pre 2005 notes ? Currency notes issued before 2005 do not have the year of printing on the reverse side. In notes issued after 2005, the year of printing is visible at the bottom of the reverse side. Why RBI is doing this ? Post-2005 notes have added security features and help in curbing the menace of fake currenc...

Mar12014 by wealth18.comNo Comments

Last date for filing ITR-V extended for 3 AY till 31-March-2014

News, Taxation

CBDT Circular 04/2014 dated 10-Feb-2014 CBDT has extended the Last date for filing ITR-V for 2 assessment years AY 2009 - 2010, 2010 -2011, 2011-2012 for returns which were filed electronically & any refund was due. Please note that this extension is only for returns where REFUNDS were due. The taxpayer need to send a duly signed copy of ITR-V to the CPC by Speed Post. Normally, when the tax payer files his Income tax returns online without digital signature, he need to take the print it of ITR V acknowledgement, sign it & send it to IT CPC. So if you have filed return online and are waiting for your refund for last few years, just check whether your ITR V was received by CPC or not. if not, then you can send it again by Speed post. How to check if CPC has received your ITR V or ...

Mar12014 by wealth18.comNo Comments

Rakesh Jhunjhunwala invests Rs 11 crore in HT media

Stocks

On 28-Feb-2014, Rakesh Jhunjhunwala's company Rare Enterprises bought 15 lakh shares in HT media for approx Rs 11 crore. He bought the shares at average price of Rs 71.25 . Following this , the shares of HT media spiked 8% and ended at Rs 77.50 During Dec 2013 quarter, HT Media had reported a Consolidated net sales of Rs 573 crore & consolidated net profit of Rs 67.02 crore Market cap - Rs 1817 crore The 52-week high of the share was Rs 123.70 and the 52-week low was Rs 69.50. The company's trailing 12-month (TTM) EPS was at Rs 0.94 per share as per the quarter ended December 2013. The stock's price-to-earnings (P/E) ratio was 82.45. See Portfolio Holding of Rakesh JhunJhunwala

Mar12014 by wealth18.comNo Comments

Section 87A Tax rebate / Tax credit of Rs 2000

Featured, Taxation

In Budget 2013, a new Section 87A was introduced under Income tax Act to allow for tax credit / rebate of Rs 2000 to taxpayers whose taxable income is upto Rs 5 lakhs. Persons whose taxable income is upto Rs 5 lakhs will get a tax credit / tax rebate of Rs 2000 under Section 87A of Income Tax Act 1961. As per new section 87A, “An assessee, being an individual resident in India, whose total income does not exceed five hundred thousand rupees, shall be entitled to a deduction, from the amount of income-tax (as computed before allowing the deductions under this Chapter) on his / her total income with which he/she is chargeable for any assessment year, of an amount equal to hundred per cent of such income-tax or an amount of two thousand rupees, whichever is less.” Key features This tax re...

Feb272014 by wealth18.comNo Comments

Stock Analysis – Speciality Restaurants

Stocks

Business Speciality Restaurants is a fine dining chain which has presence in 25 cities through its popular brands Mainland China, Oh! Calcutta, Global Grill, Sigree Global Grill, Mezzuna and Hoppipola. Over the next 2 years, it plans to add 25-30 outlets to its existing chain of 90 restaurants and 16 confectionaries. Financials The company's flagship brand Mainland China contributes 58 % to its total revenues. The company's net revenue during the period grew to Rs 214.8 crore while its operating profit margin was stable at 21.9 per cent. compounded annual growth rate (CAGR) of 13.6 per cent in the past three years despite a fall in domestic discretionary spending. The company has managed a large part of this expansion from the proceeds of its initial public offering ( IPO) in 2012...