Monday, April 15News That Matters

Misc

Comparison of Goin Coin rates in India & from where to buy them – (Gold Rates today)

Bonds
Buying precious metal (specially Gold) is considered auspicious on Diwali (3-Nov) / Dhanteras (01-Nov 2013). Gold prices are expected to run upto Rs 33000 /per 10 gram. If you are considering to buy Gold Coins this diwali, this comparison chart will help you to get the best rates Comparison Chart - Gold Coin Rates at various Banks  (as on 31-Oct-2013) ** Above Rates are exclusive of Sales Tax / VAT (which is normally 1%) ICICI Bank also offers gold in 0.5gm, 1 gm & 2.5 gm denomination NOTE:  Banks offer Gold Coins which are 24 Karat Gold with .999 finesse.  Other jewellers might offer 24K with .995 finese. Please check before buying. Bank donot offer buy back facility while jewellers may buy back coins sold by them. Alternatives 1) You can also buy Gold Coins with reputed Jewellers....

NHPC Tax Free Bonds – Oct 2013 – Details

Bonds
National Hydroelectric Power Corporation ( NHPC ) has hit the debt market with Rs 1000 crore TAx free bonds. After REC, HUDCO, IIFCL,PFC this is the another Tax free bond issue in 2013-2014. The tax free bonds issue would open from 18-Oct-2013 and close on 11-Nov-2013 The issue is AAA rated by CRISIL, ICRA, CARE highest safety rating NHPC Tax Free Bonds (Tranche 1) Details Series 1B Series 2B Series 3B Tenor 10 Years 15 years 20 years Interest Paid Annual Annual Annual Coupon Rate 8.43% 8.79% 8.92% Effective Pre-Tax Yield (30% tax slab) 12.20% 12.72% 12.91% Effective Pre-Tax Yield (20% tax slab) 10.62% 11.07% 11.23% Effective Pre-Tax Yield (10% tax slab) 9.40% 9.80% 9.94% Minimum Application Rs 5000 Maximum Application Rs 10 lacs ( Retail) Issue Opens o...

PFC Tax Free Bonds – Oct 2013 – Details

Bonds
Power Finance Corporation (PFC) has been allotted Rs 5000 crore for raising funds through tax free bonds. Some of it has already been raised through private placement and approx. Rs 3875 crore is being raised through this issue. From it 40% is reserved for retail investors. The tax free bonds issue would open from 14-Oct-2013 and close on 17-Nov-2013 The issue size is Rs 750 crore with an option to retain oversubscription up to Rs 3876 crore Power Finance Corporation Tax Free Bonds Oct 2013 (Tranche 1) Details Series 1B Series 2B Series 3B Tenor 10 Years 15 years 20 years Interest Paid Annual Annual Annual Coupon Rate 8.43% 8.79% 8.92% Effective Pre-Tax Yield (30% tax slab) 12.20% 12.72% 12.91% Effective Pre-Tax Yield (20% tax slab) 10.62% 11.07% 11.23% Effective...

Shriram Transport Finance STFC NCD Oct 2013 – Details & Review

Bonds
    Shriram Transport Finance Company (STFC) has opened its public issue of NCDs on 7-Oct-2013 & it closes on 21-Oct-2013 offering 6 investment options with yield upto 11.75%.  (Closed early on 14-Oct-2013)   This is the second NCD issue of this financial year from STFC, as the company raised Rs. 750 crore from its first issue in July 2013.   Type of Instruments – Secured Redeemable NCDs Size of Issue - Rs 250 crore through this issue, with an option to retain oversubscription upto Rs 250 crore, aggregating to a total of upto Rs 500 crore. Listing – Proposed to be listed on NSE & BSE Credit Rating - AA/stable by CRISIL and AA+ by CARE   Investment options – Annually / Cumulative Interest for 36 months, 60 months , 84 months About Company STFC is one of the largest asset financin...

IIFCL Tax Free Bonds Tranche 1 – Oct 2013 – Details

Bonds
Review of -  IIFCL Tax Free Bonds - Tranche III - February 2014 India Infrastructure Finance Company proposes to raise upto Rs 500 crore with an option to retain over subscription upto Rs 2,000 crore aggregating to Rs 2,500 crore through tax free bonds issue of secured redeemable non-convertible debentures.  (Tranche I) The tax free bonds issue would open from 03-Oct-2013  and closes on 31-Oct-2013   Indian Infrastructure Finance Co Ltd  (IIFCL)  Tax Free Bonds - Tranche I Details Series I Series II Series III Tenor 10 Years 15 years 20 years Interest Paid Annual Annual Annual Coupon Rate 8.26% 8.63% 8.75% Effective Pre-Tax Yield (30% tax slab) 11.95% 12.49% 12.66% Effective Pre-Tax Yield (20% tax slab) 10.40% 10.87% 11.02% Effective Pre-Tax Yield (10% tax ...

Form 15CA & 15CB – Revised rules – NRI / Non-resident Payments

News, NRI
As per the revised rule, Form 15CA/CB is APPLICABLE only if a person responsible for paying to a non-resident, any interest or salary or any other sum chargeable to tax under the provisions of the Act. It means, NO CA Certificate in Form 15CB and NO furnishing of Form 15CA to the Income Tax department for any payment or money transfer out of India that is NOT Taxable. As a result, Form 15CA/CB may not be required for the transfer from NRO to NRE or for outward remittance from NRO funds.    2. For the nature of the payments contained in the “Specified List” (nature changed from 39 to 28), No information to be submitted, i.e. No CA certificate in Form 15CB and No Form 15CA. 3. For payment that is taxable but does not exceed Rs. 50,000 or aggregate of payment does not exceed Rs. 250,000 in ...

FCNR Deposit with Forward Cover / Swap – yield 14% – Should NRIs invest ?

NRI
Following the sharp depreciation of INR in July – Aug 2013, RBI has taken number of steps to stabilise the currency. To attract foreign currency, interest rate on FCNR Deposits is increased by 1% for tenure of 3-5 years deposits. Earlier, for FCNR deposits for 3-5 years, Banks could offer LIBOR + 3%, now they can offer LIBOR + 4% RBI has also allowed banks to increase NRE FD Rates for tenure of 3 years or more. Read my other article - Comparison of NRE FD Rates April 2014 Structured Product for NRIs  -  FCNR Deposit with Forward Cover / Swap Many banks are offering a structured product combining FCNR Deposit and Forward Cover and offering a yield of 14%, which is risk free & tax free. If you have NRE Account with bank, you might have received similar mailer from them. 14% yield… risk ...

HUDCO Tax Free Bonds Tranche 1 – Sep 2013 – Details

Bonds
Housing and Urban Development Corporation (Hudco) is targeting to raise up to Rs 4810 crore through the second tranche of its public issue of tax-free bonds.The Finance Ministry has allowed Hudco to raise Rs. 5,000 crore through bonds during 2013-2014, of which Rs. 191 crore has been raised last month through private placement to institutional investors. The tax free bonds issue would open from 17-Sep-2013 and close on 14-Oct-2013 The issue size is Rs 750 crore with an option to retain oversubscription up to Rs 4810 crore CARE has given credit rating of 'CARE AA+' while IRRPL has given 'IND AA+ HUDCO Tax Free Bonds  Details Series I Series II Series III Tenor 10 Years 15 years 20 years Interest Paid Annual Annual Annual Coupon Rate 8.39% 8.76% 8.74% Effective Yield ...

India Infoline (IIFL) NCD Sep 2013 – Details & Review

Bonds
India Infoline is raising Rs 1050 crores through issue of debentures offering 12% for 3 & 5 years tenure. Issue open & Close :  17th Sep to 4 Oct 2013 Type of Instruments – Secured & UnSecured Redeemable NCDs Size of Issue - Rs 525 crore through this issue, with an option to retain oversubscription upto Rs 525 crore, aggregating to a total of upto Rs 1050 crore. Listing – Proposed to be listed on BSE / NSE Credit Rating – CARE AA by CARE  & BWR AA by Brickwork Investment options – Monthly / Annually / Interest for 3 years & 5 years About Company IIFL is a subsidiary of India Infoline Limited (“IIFL”), a diversified financial services company. It is a non-deposit taking NBFC focusing on Mortgage Loans, Commercial Vehicle Finance, Gold Loan, Capital Market Finance and H...

SREI Infra Finance NCD Sep 2013 – Details & Review

Bonds
SREI Infrrastructure Finance has opened its public issue of NCDs on 26 Aug 2013 and it closes on 17-Sep-2013 Type of Instruments – Secured Redeemable NCDs Size of Issue - Rs 200 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 & 6 years About Company SREI is a Public Financial Institution (PFI). 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, 2013 and March 31, 2012 stood a...