28 Feb 2011 Closing Market Updates

28 Feb 2011 Closing Market Updates  15:31

Market was riding on tides of assumptions n expectations as Hon .Pranab Mukherjee announced the Union Budget for FY 2011-2012. Nifty made a day high of 5477 but failed to hold the steam and ended just 30.65 points in positive at 5334.20. Sensex satisfied to end 129 points higher from 595.59 points gain in mid session. Sensex ended at 17832.12 with 131.21 points gain.

Budget Positive Points :


 Current surcharge of 7.5 per cent on domestic companies proposed to be reduced to 5 per cent
 Higher exemption limit of Rs 5,00,000 for very senior citizens, who are 80 years or above
 Allocation to Sarva Shiksha Abhiyan increase by 40 per cent to Rs 21,000 crore
 Allocation for education increased by 24 per cent over current year
 Allocation of Rs 2,14,000 crore for infrastructure in 2011-12; an increase of 23.3 per cent over 2010-11
 Excise duty to be reduced from 10% to 5% on parts of specified machinery
 Surcharge for companies cut to 5 per cent, from 7.5 per cent
 Citizens over 80 years to have exemption limit of Rs 5 lakh
 Special incentives for hybrid vehicle makers if manufacturing done in India to be positive for auto companies
 Crude palm used in sports exempted from customs duty to be positive for palm oil companies
 Duty reduced on hybrid & electric cars along with batteries imported for such vehicles
 Senior Citizen Age Limit reduced from 65 years to 60 years for Income Tax purposes
 Naina Lal Kidwai: The green orientation of the budget is a welcome positive
 Basic customs duty on agricultural machinery reduced to 4.5 per cent from 5 per cent
 Uday Kotak: Direct investment in Indian Mutual Funds by any foreigner is a big move
 Uday Kotak: MFs allowed to raise money from foreign investors is pathbreaking
 Uday Kotak: Budget is positive for equity markets
 Uday Kotak: Lower fiscal deficit target is commendable
 No import duty on ship parts positive for SCI
 Tax exemption limit for senior citizens raised to Rs 2.5 lakh from 2.4 lakh


Budget Negative Points :


 Rate of MAT proposed to be increased from 18 per cent to 18.5 per cent of book profits
 Lower rate of Central Excise Duty enhanced from 4 per cent to 5 per cent
 AC restaurants serving liquor to come under service tax net
 Health Check-Ups in Private hospitals to become expensive
 EXPENSIVE: International Air Travel
 EXPENSIVE: Domestic Air Travel
 Tax on life insurance service providers could be negative for insurance companies
 Travel, Healthcare to become expensive due to increased service tax
 Lack of FDI in retail was a disappointment
 Nirmal Jain: New service tax to hurt companies in hospitality
 Hike in export duty on Iron Ore is a negative, says Motilal Oswal
 Air travel to cost more
 Branded clothes may cost more
 Rise in MAT to hurt RIL, GVK Power, telcos
 FY 11 fiscal deficit above estimates, negative, says Motilal Oswal
 Swaminathan: Divestment but no privatisation is timid
 Swaminathan A Aiyer: Doubled anganwaadi wages with a check on absenteeism not good.

Among BSE Sectoral Indices, FMCG gained the most by 4.57% whereas Consumer Durables was the sector which was the top losing sector.It lost 0.21% today.
In Nifty50 stocks, ITC gained the most by 8.41% and ended at 169.45 as no additional taxs levied on cigarrettes. On the other hand, Sesagoa was the top loser by 6.80% which ended at 263.3.
Powergrid was the turnover topper by the traded value as well as number of shares traded today on NSE.
Advance/Decline Ratio was positive as 790 stocks gained and 584 stocks declined today on NSE.

Major World Indices :
Hang Seng : +325.65
Nikkei : +97.33
FTSE : -35.64
CAC : -3.97
DAX : -18.47
Dow Futures : -10.00
Nasdaq Futures : -3.50

28 Feb 2011 Union Budget Minute by minute Updates

28 Feb 2011 Union Budget Minute by minute Updates 

12:55 PM Net Revenue Loss from Direct Tax- Rs 11,500 cr and Net Revenue Gain from Indirect Tax- Rs 11,300 cr

12:54 PM Basic customs duty on agricultural machinery reduced to 4.5% from 5 per cent 

 

12:50 PM AC restaurants serving liquor under service tax net

12:49 PMTo tax life insurance service providers


12:49 PM Legal representation for businesses under service tax


12:48 PM Servcie tax on hotel accomodatiobn above Rs 1500 per day


12:48 PM Domestic travel to pay Rs 50 service tax, Rs 250 on international travel


12:47 PM AC hospitals with more than 25 beds under service tax


12:47 PM Special incentives for hybrid vehicle makers if manufacturing done in India


12:47 PM Service tax net extended to include health check-ups


12:47 PM Crude palm used in sports exempted from customs duty


12:46 PM Ship owners allowed to import duty free parts


12:46 PM Net revenue gain of Rs 7300 crore from excise, customs changes


12:46 PM Service tax to cover more areas - FM

12:44 PM Base rate on excise duty raised from 4% to 5 percent


12:44 PM Duty reduction on LEDs to promote adoption by more automakers


12:44 PM Focus on green vehicles: Duty reduced on hybrid & electric cars along with batteries imported for such vehicles

12:42 PM No excise duty on UMPP equipment


12:42 PM New category of very senior citizens for those above 80 years introduced, exemption limit Rs 5 lakh


12:41 PM Standard rate of central exercise duty maintained at 10%: FM


12:41 PM Senior citizens exempt up to Rs 2.5 lakh

12:40 PM Excise on LED cut to 5%


12:40 PM No change in CENVAT rates


12:38 PM Unified ad valorem rate of 10% for iron ore


12:38 PM Education firms up 3-5 pc on higher allocation


12:37 PM No new tax exemption limits for women


12:37 PM Swaminathan: No further rollback of 2008 stimulus


12:37 PM To cut customs duty on raw steel


12:36 PM AC, cold chain equipment exempted from excise duty


12:36 PM To levy central excise duty of 10% on branded clothes


12:36 PM No change in peak customs duty rate


12:36 PM Rs 54 crore each for AMU (Aligarh Muslim University) centres at Murshidabad and Mallapuram


12:36 PM Rs 500 crore more for national skill development fund

12:34 PM Base rate on excise duty raised to 5% from 4%


12:34 PM Net tax to Centre will be Rs 6,64,457 cr. Non-tax receipts pegged at Rs 1,25,435 cr


12:33 PM FY 12 fiscal deficit seen at Rs 4.12 lakh crore


12:33 PM Budget estimates for 2011-12 projects Rs 9,32,440 crore - an increase of 24 per cent


12:32 PM To withdraw 130 items from exemption under Central Excise


12:32 PM Central excise duty rate unchanged at 10%


12:32 PM Service tax retained at 10%


12:31 PM Direct Tax proposals net loss estimated at Rs 11,500 crore


12:29 PM Tax sops of Rs 20,000 on Infra Bonds extended for one year


12:29 PM There is a need to define the nature of public expenditure: FM


12:28 PM Foreign unit dividend tax rate cut to 15 percent for Indian companies


12:27 PM Special Economic Zones to come under MAT


12:27 PM Fiscal deficit seen at 4.1% in FY 13, 3.5% in FY 14


12:27 PM Surcharge on domestic companies cut to 5 percent from 7.5 percent


12:26 PM MAT raised to 18.5% of book profits


12:26 PM Reduce surcharge of 7.5 percent for domestic companies to 5 percent


12:25 PM Age for being classified as senior citizen cut to 60 years from 65 years

12:23 PM Tax limit raised from Rs 1,60,000 to Rs 1,80,000


12:23 PM Revenue deficit for FY11 seen at 3.4%


12:23 PM Fiscal deficit down at 5.1% from 5.4%


12:22 PM Fiscal deficit seen at 4.6% for FY 11-12


12:22 PM 11th plan expenditure up 100% in nominal terms


12:21 PM To review discretionary powers of central ministers


12:21 PM To distribute 1 million UID cards per day shortly


12:20 PM To provide Rs 58,000 crore for Bharat Nirman projects


12:20 PM Plan expenditure at Rs 4.14 lakh crore


12:19 PM Gross Tax Receipts at Rs 9.32 lakh crore, up 25%


12:19 PM Disinvestment target of Rs 40,000 cr


12:18 PM Growth rate of services sector expected at 9.3%


12:18 PM High price gap between wholesale and retail prices unacceptable


12:18 PM Age reduced for BPL pension eligibility


12:17 PM Allocation for health sector up 20%


12:16 PM To simplify tax form for small businesses


12:15 PM To amend Indian Stamp Act shortly


12:13 PM Allocation for defence at Rs 1.64 lakh crore


12:13 PM Old age pension to persons of over the age of 80 raised from Rs 200 to Rs 500


12:12 PM Direct Tax Code likely to be passed by parliament next fiscal year


12:11 PM Allocation to Department of Justice increased 3 fold to Rs 3000 cr


12:10 PM FY 12 defence capex seen at Rs 69,199 crore

12:09 PM To give Rs 8000 cr to J and K for development needs


12:09 PM Have set up dedicated cell on transfer pricing monitoring


12:07 PM To give Rs 8,000 cr to Northeast and special states

12:07 PM Banks to cover 20,00 villages for opening accounts in FY12


12:06 PM IIFCL disbursement target set at Rs 25,000 cr for FY12


12:06 PM Remuneration of anganwadi workers raised from Rs 1500 to Rs 3,000/month. Helpers to get Rs 1,500 from Rs 750


12:06 PM To allocate Rs 26,760 to health sector


12:05 PM 100% salary hike for Anganwadi teachers


12:05 PM DTC after getting Standing Committee Report


12:04 PM FIIs will be allowed to invest in mutual funds schemes


12:04 PM To extend National Health Scheme to workers in mining sector


12:03 PM Economy resilient to external shock


12:01 PM To provide Rs 200 cr grant to IIT Kharagpur, Rs 20 crore to IIM Calcutta


11:59 AM To classify capex of fertiliser sector into infrastructure


11:59 AM To allocation Rs 21,000 cr to primary education, up 40 percent


11:58 AM Education allocation increased to Rs 52,057 cr, increase of 24 percent


11:57 AM Policy on Narcotic drugs is good for Piramal Healthcare


11:56 AM To allocate Rs 58,000 cr to Bharat Nirman projects

11:56 AM GST Bill to be introduced in parliament this year


11:55 AM A new scheme to be introduced for refund of service tax on lines of drawback of duties


11:55 AM To link NREGA wages to CPI inflation


11:54 AM To set up independent debt management office; public debt management bill to be introduced


11:54 AM Plan to spend Rs 1.6 lakh crore on social projects, up 17 percent


11:53 AM Close to finalising food security bill this year: FM


11:52 AM Govt proposes to promote organic farming methods to enable farmers get best from their land


11:52 AM To set up national policy on psychotic drugs, narcotics


11:51 AM Have set up dedicated cell on transfer policy monitoring


11:51 AM To introduce self assessment in customs to facilitate fast clearance


11:50 AM Allocation under Rashtriya Krishi Yojana raised


11:50 AM To classify capex of fertiliser sector into infrastructure


11:50 AM Markets up 1.4% as FM speaks on budget


11:49 AM To introduce self assessment in customs for faster clearance


11:49 AM Five fold strategy to deal with black money


11:48 AM To set up 15 mega food parks


11:48 AM To create infrastructure debt fund to boost infrastructure funding

11:47 AM Infrastructure spending to be raised by 23%


11:46 AM To allow Rs 30K crore tax free bonds for railways, NHAI


11:45 AM Removal of supply bottlenecks in food sector in focus in 2011/12


11:43 AM Farm credit flow raised to Rs 4.75 lakh crore


11:43 AM Allocation under Rashtriya Krishi Vikas Yojana to be raised to Rs 7860 crore


11:43 AM Rs 300 cr provided to promote pulses cultivation in rain-fed areas, another Rs 300 cr to promote farm product cultivation


11:43 AM Inflation remains principal concern, to fall next yr: FM


11:42 AM Cold storage projects classified as infrastructure sector


11:41 AM To infuse Rs 3,000 cr in NABARD in phased manner


11:38 AM Allocation for farm development raised to Rs 7,860 cr


11:37 AM To provide Rs 300 crore to improve oil seed plantations


11:37 AM FIIs allowed to invest in 5-year unlisted bonds


11:36 AM TCI to benefi from Govt support for warehousing


11:36 AM To provide Rs 300 cr for implementing initiatives on vegetables


11:35 AM Edible Oil Gainers: KS Oil up 2.24 percent, Raj oil up 3.45 percent


11:35 AM Allocation for farm development increased to Rs 7860 cr


11:33 AM To provide Rs 300 cr to improve production of pulses


11:33 AM Plan to introduce Companies Bill in current session


11:32 AM Rural housing fund corpus raised to Rs 3,000 cr vs Rs 2,000 cr


11:32 AM To allocate Rs 100 cr to SIDBI for women


11:31 AM To set up Mortage Risk Guarantee fund for rural housing


11:30 AM To provide Rs 5,000 cr to SIDBI to meet priority lending targets


11:29 AM Interest subvention limit raised to Rs 25 lakh


11:27 AM To provide Rs 2,000 cr for manufacturing facilities


11:26 AM To provide Rs 2000 crore for warehousing facilities


11:26 AM Hon.FM proposes to allocate Rs 6000 cr for some PSU banks to help them maintain Tier-I capital at 8 percent


11:26 AM Plan to allow FII limit in infrastructure bonds to $25 bn


11:25 AM To bring legislative amendments for banking licenses this year

11:25 AM FII limit in corporate bonds raised to $ 40 billion


11:25 AM Auto stocks down on profit-booking; Hero Honda down 4%






11:24 AM FIIs allowed to invest in MFs; unlisted bonds with minimum lock in period of 3 yrs


11:24 AM Continuing discussions to further liberalise FDI policy


11:22 AM Task force working on oil subsidy plans


11:22 AM visit : www.integrityfinancials.blogspot.com


11:21 AM Govt commited to retain 51 percent stake in PSUs


11:21 AM Retain divestment target of Rs 40,000 crore


11:20 AM To move to direct cash subisdy for kerosene, fertiliser


11:19 AM Nutrient based fertiliser policy for urea under consideration


11:19 AM Working on ensuring better delivery for urea, kerosene


11:18 AM Availability of fertilisers has improved post new policy


11:18 AM GST rounds with states making considerable progress


11:17 AM States to cut down fiscal deficit to 3 percent of Gross State GDP by 2014

11:17 AM To introduce Public Debt Management Bill in 2012


11:17 AM The economy has shown remarkable resilience

11:16 AM DTC to be effective April 1, 2012


11:16 AM Economy to grow at 9 percent, plus or minus 0.25 percent in 2012


11:15 AM Laying down fiscal consolidation map for next five years


11:15 AM Impression of drift in government is misplaced


11:12 AM Average inflation to be lower next year, current account deficit to be better managed


11:12 AM Recovery in developed nations has taken roots


11:12 AM Seen shortcomings in food supply chains


11:11 AM Monetary policy is keeping food inflation in check


11:11 AM Agriculture growth at 5.4%, industry at 8.1% in 2010-11


11:10 AM Must ensure that private investment is sustained


11:10 AM Working on simplifying tax rules, trade and tariff reforms


11:10 AM Must improve supply response in the agriculture sector

11:09 AM Working on simplifying tax rules, trade and tariff norms


11:09 AM Corruption is a problem we have to fight collectively


11:08 AM Cutting bureaucratic delays, improving response times


11:08 AM Don't see resources as a constraint to growth


11:07 AM Agriculture sector has shown significant rebound


11:07 AM Need to improve regulatory standards to fight corruption

11:07 AM Much needs to be done in rural India:FM


11:06 AM To reconcile environment concerns, growth needs


11:06 AM Don't see resources as a constraint to growth


11:05 AM Food inflation declined to less than half to 9.3%


11:05 AM Need to ensure balanced demand and supply


11:05 AM Economy has regained pre-crisis growth momentum


11:05 AM Food inflation is a big concern


11:04 AM High growth trajectory is our aim


11:04 AM Need to make development more inclusive


11:04 AM Economy set for double-digit growth in coming years


11:04 AM Growth in 2011 was broad based


11:04 AM Fiscal consolidation has been impressive: FM


11:03 AM The year was full of challenges for fiscal consilidation: FM


11:02 AM At the start of the speech, Sensex up 152 points, Nifty up 48 points


11:02 AM FM starts presenting Budget in the Lok Sabha

25 Feb 2011 Closing Market Updates

25 Feb 2011 Closing Market Updates 15:30

Market remained volatile on Mamta Banarjee's Rail Budget. Market recovered in the last session on FII's buying in selected banking stocks. Nifty re-bounced from 5232.75 to end at 5318.75 with 56.05 points gain.
Sensex gained 122.17 points to end at 17754.58.
Among BSE Sectoral Indices, Bankex gained the most by 2.18% whereas Power Sector index was the top loser by 0.52%
In Nifty 50 stocks, IDFC was the top gainer by 6.13% and ended at 139.4 and Rcom was the top loser by 5.31% which ended at 87.45
SBIN was the turnover topper by the traded value and  Unitech was the most traded stock by the quantity traded today on NSE.
Advance / Decline Ratio was negative as 808 stocks declined and 568 stocks gained today on NSE.

Major World Indices :

Hang Seng : +411.33
Nikkei : +74.05
FTSE : +14.41
CAC : +37.90
DAX : +30.42
Dow Futures : +60
Nasdaq Futures : +15.50

Union Railway Budget Minute by minute Updates

25 Feb 2011 Union Railway Budget  2011-2012 :

Minute by minute Updates

Third Railway Budget by Ms.Mamta Banarjee as a UPA minister.

Budget Updates :












01:44 PM RailBudget - No fare hike across the board



01:39 PM RailBudget - 3 new Shatabdis on Pune-Secunderabad, Jaipur- Agra and Ludhiana-Delhi routes

01:36 PM RailBudget - Targets excess of Rs 5260 cr in FY 12

01:36 PM RailBudget - Working expenditure during FY12 estimated at Rs 87,000 cr



01:35 PM RailBudget - New Durontos: Sealdah-Puri, Secunderabad-Visakhapatnam, Madurai-Chennai



01:35 PM RailBudget - New Durantos to be run on Allahabad-Mumbai, Pune-Ahmedabad



01:34 PM RailBudget - Wagon procurement target at 18,000 in FY-12



01:34 PM RailBudget - Mumbai suburban system's EMU coaches to be increased from 9 to 12



01:33 PM RailBudget - 50 percent concession for mediapersons with families to be increased from once to twice a year



01:29 PM RailBudget - Physically challenged can enjoy concession in Rajdhani, Shatabdi



01:29 PM RailBudget - 47 additional services on Mumbai suburban section



01:28 PM RailBudget - Nine additional services for Chennai suburban service



01:28 PM RailBudget - Concession to senior male citizens raised to 40 per cent from 30 per cent



01:26 PM RailBudget - Ten-year backlog of 1.75 lakh jobs being addressed



01:25 PM RailBudget - 9 new Duronto trains to be launched



01:24 PM RailBudget - To introduce 56 new trains in FY-12



01:23 PM RailBudget - Train to run to Bangladesh to showcase Indian culture



01:23 PM RailBudget - To increase frequency of many Durontos



01:21 PM RailBudget - 2 new double decker train services to be launched



01:19 PM RailBudget - Expenditure on gauge conversion to double



01:18 PM RailBudget - To start 40 new routes covering 1075 km



01:17 PM RailBudget - Women to get benefits for senior citizens at age of 58



01:16 PM EcoSurvey - Need for efficient taxation of goods and services by GST



01:16 PM EcoSurvey - Improve convergence of social and financial inclusion schemes



01:15 PM EcoSurvey - Reform university and higher education



01:14 PM EcoSurvey - Meet resource gap in higher education through PPP



01:14 PM RailBudget - To launch 3 new Shatabdi trains in FY 12



01:13 PM EcoSurvey - Fundamentals strong with growing savings and investments



01:11 PM RailBudget - Minister appeals to stop rail roko agitations



01:11 PM EcoSurvey - FDI in multi brand retail worth considering



01:11 PM RailBudget - Freight traffic estimated at 993 million tonnes in 2011/12



01:10 PM RailBudget - Enthused by high number of medals in sports won by Railways



01:08 PM RailBudget - Scholarship schemes for low income groups



01:08 PM EcoSurvey - Policies needed to promote areas such as accounting, legal, tourism



01:06 PM RailBudget - Propose development of integrated suburban railway network in big metros



01:06 PM RailBudget - Will introduce trolleys at railway stations



01:05 PM RailBudget - Sixth pay commission added Rs 73,000 cr to staff expenses



01:05 PM RailBudget - Railways to set up a sports cadre for deserving sportsmen



01:04 PM RailBudget - Railway earnings set to exceed Rs 1 lakh cr mark



01:04 PM RailBudget - Steps taken to fill up recruitment backlog



01:04 PM RailBudget - Safety guaranteed scheme for railway employees



01:04 PM RailBudget - Railways taking austerity measures to cut losses



01:03 PM EcoSurvey - Critical to anchor expenditure reforms



01:03 PM EcoSurvey - Fiscal consolidation to ease pressure on monetary policy



01:02 PM RailBudget - Railways is passing through a rough phase



01:02 PM RailBudget - Expected operating ratio is 91:1



01:01 PM RailBudget - Restructuring of all cadres being undertaken in the Railways



01:00 PM RailBudget - Online booking of tickets to be cheaper



01:00 PM RailBudget - Kolkata Metro to expand its network



12:57 PM RailBudget - First coach from Rae Bareli factory in next three months



12:57 PM RailBudget - Work on upgrading 442 stations to be completed by March 31



12:57 PM RailBudget - To adopt modern technology through centres of academic excellence



12:57 PM RailBudget - All-India security helpline set up



12:56 PM RailBudget - Will add 180 km of rail lines in 2011-12



12:56 PM RailBudget - Upgraded class of air conditioned travel to be introduced shortly



12:55 PM RailBudget - Rs 2000 cr lost owing to ban on export of iron ore



12:55 PM RailBudget - Facing problems due to Sixth Pay Commission



12:54 PM RailBudget - Paid full dividend for 2009-10



12:54 PM RailBudget - Frequency of 17 trains to be increased



12:51 PM RailBudget - Multiple discipline training centers to be setup across country



12:51 PM RailBudget - 16,000 ex-servicemen to be inducted by Railways



12:49 PM RailBudget - 1,500 trains cancelled, 3,500 re-scheduled last year



12:48 PM RailBudget - Setup two new passenger terminals in Kerala



12:47 PM RailBudget - Saved Rs 300 crore by re-aligning rail tracks



12:45 PM RailBudget - Better accessibility of stations to physically challenged



12:45 PM RailBudget - Providing 12000 acres to east-west freight corridor



12:44 PM RailBudget - Multipurpose go India smart card to be launched



12:43 PM RailBudget - Pradhan Mantri Rail Vikas Yojna to be launched



12:42 PM EcoSurvey - Monsoons, crude oil pose risk to economic growth



12:41 PM Markets watch: Sensex up 130 points, Nifty up 54 points



12:41 PM RailBudget - Work on wagon factory in Orissa to begin after land is acquired



12:40 PM RailBudget - To do away with all unmanned railway crossings in FY-12



12:39 PM RailBudget - Anti collision devices deployed in 8 zones



12:39 PM EcoSurvey - Inflation outlook to be shaped by food price situation



12:38 PM RailBudget - Anti collision devices to be commissioned in 3 zones



12:38 PM RailBudget - To spend Rs 9583 crore on new lines in FY 12



12:37 PM EcoSurvey - Rising food inflation underlines need for larger investment in agriculture



12:37 PM RailBudget - To setup coach factory in Kolar via JV or PPP

12:36 PM EcoSurvey - Accelerated investment needed in infrastructure; growth laudable in telecom, services sectors



12:36 PM EcoSurvey - Industrial output grows by 8.6 per cent, manufacturing sector registers 9.1 per cent expansion, exports up by 29.5 per cent in April-December, 2010



12:34 PM RailBudget - Doubling expenditure on gauge conversion to Rs 2470 crore



12:33 PM RailBudget - To spend Rs 13,824 crore for buying rolling stock



12:34 PM RailBudget - IRFC to borrow Rs 10,000 crore via tax free bonds

12:32 PM RailBudget - Market borrowing for FY 12 seen at Rs 20,594 crore



12:32 PM EcoSurvey - Agriculture likely to grow at 5.4 per cent in 2010-11



12:31 PM RailBudget - Annual gross budgetary support at Rs 20,000 crore



12:31 PM RailBudget - Annual plan for FY 12 at Rs 57630 crore



12:30 PM RailBudget - To construct 10,000 shelters for people staying next to lines



12:30 PM RailBudget - To meet the demand for coaches, rail based industries to be set up under Vision 2020



12:29 PM RailBudget - First coach from the new rail factory at Rae Bareli to roll out in next three months



12:29 PM RailBudget - To set up two wagon units with private partners



12:28 PM RailBudget - To setup track machine unit in West Bengal

12:27 PM RailBudget - To construct 700 km rail track each year



12:26 PM RailBudget - Have received 85 proposals under PPP scheme



12:26 PM RailBudget - To setup 700 megawatt gas based power plant in Maharashtra



12:25 PM RailBudget - To setup rail industrial park in Nandigram



12:24 PM RailBudget - Have to depend on imports of rolling stocks, coaches

12:23 PM EcoSurvey - Critical to anchor expenditure reforms to achieve targeted fiscal deficit level

12:23 PM RailBudget - To set up railway software unit in Darjeeling



12:22 PM RailBudget - Have to depend on import of rolling stock, coaches



12:21 PM RailBudget - To set up diesel locomotive works in Manipur



12:21 PM RailBudget - To setup one metro coach factory in Singur



12:20 PM RailBudget - Railways to set up bridge factory in Jammu and Kashmir





12:18 PM EcoSurvey - Govt consdiering ways to revive closed urea units



12:18 PM EcoSurvey - May consider separate licences for basic, full banking services



12:17 PM RailBudget - Railways initiating business oriented policies



12:16 PM EcoSurvey: Agriculture likely to grow 5.4% in FY-11



12:16 PM EcoSurvey: Rise in corporate, service tax note worthy



12:15 PM Eco Survey: Manufacturing growth seen at 9.1% in FY-11



12:14 PM Eco Survey: Services growth for FY11 seen at 9.6%



12:14 PM Rail Minister's speech starts in Parliament



12:13 PM Agriculture likely to grow at 5.4% in FY11



12:13 PM Rise in corporate, service tax notreworthy



12:13 PM 5 8% rise in net credit to infra projects



12:13 PM Capital goods, consumer durables to be major growth drivers



12:13 PM RBI's forex market intervention unlikely to be inflationary



12:12 PM Slowdown in FDI partly offset FII investment



12:11 PM Investments, savings rate may rise in FY-12



12:11 PM Plan to raise diesel prices in a staggered manner



12:11 PM Govt to cap auto fuel prices if global oil prices surge



12:10 PM Slowdown in FDI partly offset by rise in FII flows



12:10 PM Current account deficit necessary for effective monetary policy



12:08 PM Need to keep all options open if forex flows hurt economy



12:08 PM Tackling inflation to be the centre stage of policy making



12:07 PM FY-11 revenue shortfall seen at 3.8% of GDP



12:07 PM Govt implementing a gradual exit from stimulus measures



12:07 PM Seeing fast, strong turnaround in the economy



12:07 PM Slowdown in industrial output is a cause of concern



12:07 PM FY-11 fiscal deficit seen at 4.8% of GDP



12:06 PM Inflation has re-emerged as a major economic concern



12:05 PM Global debt crisis may effect Indian growth prospects



12:05 PM Economy to revert to pre-crisis level in FY-12



12:04 PM Cutting fiscal deficit necessary for effective monetary policy



12:04 PM Inflation is clearly a dominant concern



12:04 PM FY11 Fiscal deficit seen at 4.8% of GDP



12:04 PM Higher global crude oil prices may impact FY12 growth



12:04 PM India's FY 12 GDP growth may exceed 9%



12:02 PM Investments, savings rate may rise in FY-12



01:44 PM RailBudget - No fare hike across the board



01:39 PM RailBudget - 3 new Shatabdis on Pune-Secunderabad, Jaipur- Agra and Ludhiana-Delhi routes

01:36 PM RailBudget - Targets excess of Rs 5260 cr in FY 12

01:36 PM RailBudget - Working expenditure during FY12 estimated at Rs 87,000 cr



01:35 PM RailBudget - New Durontos: Sealdah-Puri, Secunderabad-Visakhapatnam, Madurai-Chennai



01:35 PM RailBudget - New Durantos to be run on Allahabad-Mumbai, Pune-Ahmedabad



01:34 PM RailBudget - Wagon procurement target at 18,000 in FY-12



01:34 PM RailBudget - Mumbai suburban system's EMU coaches to be increased from 9 to 12



01:33 PM RailBudget - 50 percent concession for mediapersons with families to be increased from once to twice a year



01:29 PM RailBudget - Physically challenged can enjoy concession in Rajdhani, Shatabdi



01:29 PM RailBudget - 47 additional services on Mumbai suburban section



01:28 PM RailBudget - Nine additional services for Chennai suburban service



01:28 PM RailBudget - Concession to senior male citizens raised to 40 per cent from 30 per cent



01:26 PM RailBudget - Ten-year backlog of 1.75 lakh jobs being addressed



01:25 PM RailBudget - 9 new Duronto trains to be launched



01:24 PM RailBudget - To introduce 56 new trains in FY-12



01:23 PM RailBudget - Train to run to Bangladesh to showcase Indian culture



01:23 PM RailBudget - To increase frequency of many Durontos



01:21 PM RailBudget - 2 new double decker train services to be launched



01:19 PM RailBudget - Expenditure on gauge conversion to double



01:18 PM RailBudget - To start 40 new routes covering 1075 km



01:17 PM RailBudget - Women to get benefits for senior citizens at age of 58



01:16 PM EcoSurvey - Need for efficient taxation of goods and services by GST



01:16 PM EcoSurvey - Improve convergence of social and financial inclusion schemes



01:15 PM EcoSurvey - Reform university and higher education



01:14 PM EcoSurvey - Meet resource gap in higher education through PPP



01:14 PM RailBudget - To launch 3 new Shatabdi trains in FY 12



01:13 PM EcoSurvey - Fundamentals strong with growing savings and investments



01:11 PM RailBudget - Minister appeals to stop rail roko agitations



01:11 PM EcoSurvey - FDI in multi brand retail worth considering



01:11 PM RailBudget - Freight traffic estimated at 993 million tonnes in 2011/12



01:10 PM RailBudget - Enthused by high number of medals in sports won by Railways



01:08 PM RailBudget - Scholarship schemes for low income groups



01:08 PM EcoSurvey - Policies needed to promote areas such as accounting, legal, tourism



01:06 PM RailBudget - Propose development of integrated suburban railway network in big metros



01:06 PM RailBudget - Will introduce trolleys at railway stations



01:05 PM RailBudget - Sixth pay commission added Rs 73,000 cr to staff expenses



01:05 PM RailBudget - Railways to set up a sports cadre for deserving sportsmen



01:04 PM RailBudget - Railway earnings set to exceed Rs 1 lakh cr mark



01:04 PM RailBudget - Steps taken to fill up recruitment backlog



01:04 PM RailBudget - Safety guaranteed scheme for railway employees



01:04 PM RailBudget - Railways taking austerity measures to cut losses



01:03 PM EcoSurvey - Critical to anchor expenditure reforms



01:03 PM EcoSurvey - Fiscal consolidation to ease pressure on monetary policy



01:02 PM RailBudget - Railways is passing through a rough phase



01:02 PM RailBudget - Expected operating ratio is 91:1



01:01 PM RailBudget - Restructuring of all cadres being undertaken in the Railways



01:00 PM RailBudget - Online booking of tickets to be cheaper



01:00 PM RailBudget - Kolkata Metro to expand its network



12:57 PM RailBudget - First coach from Rae Bareli factory in next three months



12:57 PM RailBudget - Work on upgrading 442 stations to be completed by March 31



12:57 PM RailBudget - To adopt modern technology through centres of academic excellence



12:57 PM RailBudget - All-India security helpline set up



12:56 PM RailBudget - Will add 180 km of rail lines in 2011-12



12:56 PM RailBudget - Upgraded class of air conditioned travel to be introduced shortly



12:55 PM RailBudget - Rs 2000 cr lost owing to ban on export of iron ore



12:55 PM RailBudget - Facing problems due to Sixth Pay Commission



12:54 PM RailBudget - Paid full dividend for 2009-10



12:54 PM RailBudget - Frequency of 17 trains to be increased



12:51 PM RailBudget - Multiple discipline training centers to be setup across country



12:51 PM RailBudget - 16,000 ex-servicemen to be inducted by Railways



12:49 PM RailBudget - 1,500 trains cancelled, 3,500 re-scheduled last year



12:48 PM RailBudget - Setup two new passenger terminals in Kerala



12:47 PM RailBudget - Saved Rs 300 crore by re-aligning rail tracks



12:45 PM RailBudget - Better accessibility of stations to physically challenged



12:45 PM RailBudget - Providing 12000 acres to east-west freight corridor



12:44 PM RailBudget - Multipurpose go India smart card to be launched



12:43 PM RailBudget - Pradhan Mantri Rail Vikas Yojna to be launched



12:42 PM EcoSurvey - Monsoons, crude oil pose risk to economic growth



12:41 PM Markets watch: Sensex up 130 points, Nifty up 54 points



12:41 PM RailBudget - Work on wagon factory in Orissa to begin after land is acquired



12:40 PM RailBudget - To do away with all unmanned railway crossings in FY-12



12:39 PM RailBudget - Anti collision devices deployed in 8 zones



12:39 PM EcoSurvey - Inflation outlook to be shaped by food price situation



12:38 PM RailBudget - Anti collision devices to be commissioned in 3 zones



12:38 PM RailBudget - To spend Rs 9583 crore on new lines in FY 12



12:37 PM EcoSurvey - Rising food inflation underlines need for larger investment in agriculture



12:37 PM RailBudget - To setup coach factory in Kolar via JV or PPP

12:36 PM EcoSurvey - Accelerated investment needed in infrastructure; growth laudable in telecom, services sectors



12:36 PM EcoSurvey - Industrial output grows by 8.6 per cent, manufacturing sector registers 9.1 per cent expansion, exports up by 29.5 per cent in April-December, 2010



12:34 PM RailBudget - Doubling expenditure on gauge conversion to Rs 2470 crore



12:33 PM RailBudget - To spend Rs 13,824 crore for buying rolling stock



12:34 PM RailBudget - IRFC to borrow Rs 10,000 crore via tax free bonds

12:32 PM RailBudget - Market borrowing for FY 12 seen at Rs 20,594 crore



12:32 PM EcoSurvey - Agriculture likely to grow at 5.4 per cent in 2010-11



12:31 PM RailBudget - Annual gross budgetary support at Rs 20,000 crore



12:31 PM RailBudget - Annual plan for FY 12 at Rs 57630 crore



12:30 PM RailBudget - To construct 10,000 shelters for people staying next to lines



12:30 PM RailBudget - To meet the demand for coaches, rail based industries to be set up under Vision 2020



12:29 PM RailBudget - First coach from the new rail factory at Rae Bareli to roll out in next three months



12:29 PM RailBudget - To set up two wagon units with private partners



12:28 PM RailBudget - To setup track machine unit in West Bengal

12:27 PM RailBudget - To construct 700 km rail track each year



12:26 PM RailBudget - Have received 85 proposals under PPP scheme



12:26 PM RailBudget - To setup 700 megawatt gas based power plant in Maharashtra



12:25 PM RailBudget - To setup rail industrial park in Nandigram



12:24 PM RailBudget - Have to depend on imports of rolling stocks, coaches

12:23 PM EcoSurvey - Critical to anchor expenditure reforms to achieve targeted fiscal deficit level

12:23 PM RailBudget - To set up railway software unit in Darjeeling



12:22 PM RailBudget - Have to depend on import of rolling stock, coaches



12:21 PM RailBudget - To set up diesel locomotive works in Manipur



12:21 PM RailBudget - To setup one metro coach factory in Singur



12:20 PM RailBudget - Railways to set up bridge factory in Jammu and Kashmir





12:18 PM EcoSurvey - Govt consdiering ways to revive closed urea units



12:18 PM EcoSurvey - May consider separate licences for basic, full banking services



12:17 PM RailBudget - Railways initiating business oriented policies



12:16 PM EcoSurvey: Agriculture likely to grow 5.4% in FY-11



12:16 PM EcoSurvey: Rise in corporate, service tax note worthy



12:15 PM Eco Survey: Manufacturing growth seen at 9.1% in FY-11



12:14 PM Eco Survey: Services growth for FY11 seen at 9.6%



12:14 PM Rail Minister's speech starts in Parliament



12:13 PM Agriculture likely to grow at 5.4% in FY11



12:13 PM Rise in corporate, service tax notreworthy



12:13 PM 5 8% rise in net credit to infra projects



12:13 PM Capital goods, consumer durables to be major growth drivers



12:13 PM RBI's forex market intervention unlikely to be inflationary



12:12 PM Slowdown in FDI partly offset FII investment



12:11 PM Investments, savings rate may rise in FY-12



12:11 PM Plan to raise diesel prices in a staggered manner



12:11 PM Govt to cap auto fuel prices if global oil prices surge



12:10 PM Slowdown in FDI partly offset by rise in FII flows



12:10 PM Current account deficit necessary for effective monetary policy



12:08 PM Need to keep all options open if forex flows hurt economy



12:08 PM Tackling inflation to be the centre stage of policy making



12:07 PM FY-11 revenue shortfall seen at 3.8% of GDP



12:07 PM Govt implementing a gradual exit from stimulus measures



12:07 PM Seeing fast, strong turnaround in the economy



12:07 PM Slowdown in industrial output is a cause of concern



12:07 PM FY-11 fiscal deficit seen at 4.8% of GDP



12:06 PM Inflation has re-emerged as a major economic concern



12:05 PM Global debt crisis may effect Indian growth prospects



12:05 PM Economy to revert to pre-crisis level in FY-12



12:04 PM Cutting fiscal deficit necessary for effective monetary policy



12:04 PM Inflation is clearly a dominant concern



12:04 PM FY11 Fiscal deficit seen at 4.8% of GDP



12:04 PM Higher global crude oil prices may impact FY12 growth



12:04 PM India's FY 12 GDP growth may exceed 9%



12:02 PM Investments, savings rate may rise in FY-12

23 Feb 2011 Commodity Market Updates

23 Feb 2011 Commodity Market Updates  23:57

Today, Crude Oil caught fire and Gold shone. On MCX, Apr expiry Crude made a new high of  Rs.4545 with a 4.17% rise and ended at 4494.
Crude oil prices surpass US$100 for the first time since October 2008 as traders scramble to buy up future supplies amid fears that Libya's unrest could bring the country's exports to a halt.

On the other hand, Gold shoot up today and made a new high of 21012 on Apr month contract on MCX and ended at 20956. Similarly Silver made a high of 50389 today on MCX.
Prices of oil and non-oil commodities rose considerably in 2010 in response to strong global demand and supply shocks for select commodities. Crude oil prices, after averaging $97 (Rs4,384) a barrel in 2008, declined to $61 the following year.

But, in 2010, strong demand growth, especially in countries that are not a part of the Organisation for Economic Co-operation and Development (OECD), again pushed up crude oil prices to an average $76 a barrel. Currently, crude oil is trading in the international market at $87 a barrel (West Texas Intermediate, or WTI, crude futures) and $102 a barrel (Brent). According to estimates, the upward pressure on prices is likely to persist in 2011. Global oil demand during 2011 is expected to go up by 1.7% to 89.1 million barrels per day (mmbopd).
The crude oil forward curve for WTI indicates a long-term price nearing $98 per barrel. In India, oil prices move in tandem with the trends in the international market. After dipping to an average of $69 per barrel in 2009-10, the Indian crude oil basket is currently pegged at $79 per barrel.
Deregulation of petroleum prices
In June, after recommendations from several expert groups, the government deregulated petrol prices while maintaining status quo on other sensitive petroleum products with partial price revisions. Since then, marginal price changes have been effected on sensitive petroleum products.
In spite of periodical price revisions, there is an under-recovery to oil companies across all the sensitive petroleum products. In the current fiscal year, oil marketing companies are estimated to record a revenue loss of Rs72,000 crore. As per the agreed one-third sharing formula, till date the government has reimbursed Rs24,000 crore in two tranches and another Rs14,400 crore has been paid by upstream companies by way of discounts. Oil marketing companies are not in a position to bear more than Rs12,000 crore of revenue losses and the government would have to compensate the overall shortfall of Rs36,000 crore.

23 Feb 2011 Closing Market Updates

23 Feb 2011 Closing Market Updates  15:30

Oil price worry affected markets to trade sluggish.Nifty ended at 5436.30 with 32.9 points down and Sensex ended at 18170.57 with 125.59 points fall.
Among BSE Sectoral Indices, Auto Index was gained the most by just 0.62% gain whereas Bankex was the top loser by 1.73%
In Nifty50 stocks, Relinfra was the top gainer by 11.97% rise which ended at 696. On the other side, Ranbaxy was the top loser with 6.70% and ended at 459.25.
SBI was the turnover topper by its traded value and Unitech was the most traded stock by the traded quantity.
Advance/Decline Ratio was negative as 883 stocks declined and 488 stocks gained today on NSE.

Major World Indices :

Hang Seng : -83.91
Nikkei : -85.60
FTSE : -41.87
CAC : -4.98
DAX : -23.41
Dow Futures : +29.00
Nasdaq Futures : +5.50

22nd FebMarket Closing Updates

22nd FebMarket Closing Updates:

The Sensex continues to trade in the negative terrain as sustained selling is being witnessed in auto, banking, capital goods and metal stocks, while oil & gas gained ground.

The 30-share benchmark index, BSE Sensex opened with a decline of 47.59 points or 0.26% at 18,390.72, while the broad based NSE Nifty started with a fall of 14.20 points or 0.26%, at 5,504.40.
The Sensex was trading down 91.33 points or 0.50% at 18,346.98 with 17 components falling. Meanwhile, the Nifty was trading lower by 34.35 points or 0.62% at 5,484.25 with 24 components gaining.
Major gainers in the 30-share index:
Reliance Industries (4.26%),
Reliance Comm (2.67%),
Sterlite Industries (2.36%),
Reliance Infra (1.18%),
TCS (0.13%)
Hindalco (0.05%).
The biggest losers in the Sensex.
Hero Honda Motors (3.37%),
Tata Motors (2.58%),
Jindal Steel (2.37%),
Mahindra & Mahindra (2.33%),
Tata Steel (2.16%)
Overall the market breadth is negative with 1,108 advances as against 1538 declines, while 111 remained unchanged.The 30-share BSE Sensex fell 226 points to 18,211 and the 50-share NSE Nifty declined 73 points to 5,446. The broader indices too lost one percent.

All sectoral indices were down except oil & gas - Capital Goods, Auto and Bankex slipped 2% each. Metal, Power, IT, FMCG, Realty and Healthcare indices were down one percent.
Among frontliners, Hero Honda, Jaiprakash Associates, HDFC Bank, L&T, Tata Motors, BPCL, Sun Pharma, Suzlon Energy and Axis Bank tumbled 3-3.5%.
In midcap space, Jai Corp surged 11%. GNFC, Sanwaria Agro, Gitanjali Gems and IndiaBPower gained 3-4% while SpiceJet, Jet Airways, Nava Bharat Ventures, Money Matters and Educomp Solutions lost 5-9%.
In smallcap space, Reliance Industrial Infra gained 15%. Graviss Hosp, Tinplate, AP Paper Mills and Prabhav Industries were up 5-9% whereas Madhucon Projects, Geodesic, Sahara One, Kiri Dyes Chemical and aurionPro Solutions fell 6-8%.

21 Feb 2011 Commodity Closing Updates Silver Closed above 50000/Kg

21 Feb 2011 Commodity Closing Market Updates  23:55


Silver shone today also. All base metals except copper rose today.
Silver ended at 50350 with 3.73% rise.
Gold ended at 20733 with 0.90 % rise.

Turmeric futures gained on speculators frenzy buying which was on the back of reports of rising exports demand. The world's largest producer of turmeric, India, produces nearly 80-85% of world's total production, which stands at around 6.0 lakh MT to 7.0 lakh MT per year. Major producers in India are Andhra Pradesh, Tamilnadu, Orissa, West Bengal, Karnataka and Maharashtra.

The contract for April delivery was trading at Rs 10092.00, gained 3.76% or Rs 366 from its previous closing of Rs 9726.00. The open interest of the contract stood at 6105 lots.
The contract for May delivery was trading at Rs 9830, gained 2.72% or Rs 260.00 from its previous closing of Rs 9570.00. The open interest of the contract stood at 3845 lots on NCDEX.

Chana futures along with other agri commodities has recovered on Monday after witnessing fall in previous session, there were some reports of delayed arrivals from AP and Karnataka due to the unseasonal rains with reports of fall in production that seem to be supporting the prices, however increased arrival of the new crop can weigh on the prices.

The contract for March delivery was trading at Rs 2628.00, up by 0.38% or Rs 10.00 from its previous closing of Rs 2618.00. The open interest of the contract stood at 90250 lots.
The contract for April delivery was trading at Rs 2728.00, up by 0.74% or Rs 20.00 from its previous closing of Rs 2708.00. The open interest of the contract stood at 88740 lots on NCDEX.

21 Feb 2011 Closing Market Updates Nifty ended above 5500 mark

21 Feb 2011 Closing Market Updates  15:30
Nifty ended at 5518 with 60.30 points jump after making day low of 5419.25 as well Sensex ended at 18435.44 with 223.92 points rise.

18 Feb 2011 Closing Market Updates

18 Feb 2011 Closing Market Updates  15:30

Profit booking at week end pulled the market down and ended negatively. Also fear factor of Narco tests applicable for suspected applied for today's sudden fall. Nifty ended at 5467.10 with 79.35 points down and Sensex ended at 18238.97 with 267.85 points of slide.ADAG group stocks plunged on market rumors.
All BSE Sectoral Indices ended in negative.Realty was the most declined sector with 4.03% fall.
Hindunilvr was the top gainer in Nifty50 stocks which gained 2.21% and ended at 280. Relcapital was the top loser by 6.83% and ended at 445.75.
SBI was the turnover topper by traded value whereas Unitech was the most traded stock on NSE today.
Advance/Decline Ratio was negative as 1138 stocks declined and 268 stocks gained today on NSE.


Major World Indices :
Hang Seng : +293.40
Nikkei : +6.16
FTSE : -28.09
CAC : -9.77
DAX : -15.82
Dow Futures : -7.00
Nasdaq Futures : +0.75


New consumer price indices pegs inflation at 6% for JanThe government today launched a new series measuring inflation which suggested Consumer Price Index based inflation at 6 per cent for January this year.

The figure was arrived based on a comparison with the annual all-India CPI index average for the whole of 2010.
These consumer indices have been released for five major groups -- food, beverages and tobacco; fuel and light; housing; clothing, bedding and footwear; and miscellaneous.