Know the various elements of Railway Budget

Railway Minister Suresh Prabhu will table the Rail Budget 2015-16 in the Lok Sabha today 

According to Article 112 of the Constitution of India, the central government should present before the Parliament an Annual Financial Statement as called Budget.

Railway Minister Suresh Prabhu will table the Rail Budget 2015-16 in the Lok Sabha today.

Mr. Prabhu had said best efforts were being made to fulfil people’s aspiration in the NDA government’s first full-fledged Rail Budget.


The various elements of Railway Budget include:

1. Railway Minister's Budget speech
2. Financial details of railway revenue
3. Financial details of railway expenditure
4. Data about machinery and rolling stock programme
5. Performance and evaluation of Budget
6. Appropriation Bill
7. Explanatory memorandum about the increase in fare and freight rates 

DLF clarifies reports on stake sale in 5 projects

The Exchange had sought clarification from DLF Ltd with respect to news appearing in Business Standard on February 22, 2015 titled "DLF to sell 50% stakes in 5 projects" and "Showcause to DLF over IT park" on February 23, 2015 respectively. 

The Exchange had sought clarification from DLF Ltd with respect to news appearing in Business Standard on February 22, 2015 titled "DLF to sell 50% stakes in 5 projects" and "Showcause to DLF over IT park" on February 23, 2015 respectively.

DLF Ltd replied stating, "In regard to item (i) "DLF to sell 50% stakes in 4 projects", we would like to clarify that there is no event, information or development which requires disclosure under Clause 36 of Listing Agreement. The Company, during its normal course of business, keeps exploring various opportunities to enhance shareholder value, which includes M&A, divestment of assets and fund raising opportunities. This was also disclosed in the Quarterly Analysts presentation duly uploaded in the Company’s website. We would keep exchanges informed in case of any specific developments in this regard.

In regard to item (ii) "Show cause to DLF over IT park" in Odisha, we would like to submit that the Company is in the process of seeking legal advice. The Company would submit any further material development to the stock exchanges in this regard."

SEBI plans to introduce OFCDs to small investors

Companies may offer optionally fully convertible debentures (OFCDs) in place of shares to small investors in initial public offerings

Securities & Exchange Board of India (SEBI) is planning to introduce an innovative structure in the primary market to attract more retail investors, according to a media report.

 Companies may offer optionally fully convertible debentures (OFCDs) in place of shares to small investors in initial public offerings (IPOs), the report added.

 The objective is to help retail investors exit their OFCDs in case the price of the share falls, the report added.

 SEBI's Primary Market Advisory Committee is likely to discuss the proposal on February 27.

Railway stocks mixed ahead of Railway Budget

Shares of Titagarh Wagons was flat at Rs. 586, while Texmaco Rail & Engineering shares were down 3% at Rs. 135 

Railway stocks will be in limelight today agead of the Railway Budget.

Shares of Titagarh Wagons was flat at Rs. 586, while Texmaco Rail & Engineering shares were down 3% at Rs. 135.

Kalindee Rail Nirman Engineers stock was down 3% at Rs. 136.

Gateway Distriparks shares were also down 2% at Rs418 and Container Corporation stock was up 2% at Rs. 1608.

Sundaram Finance spurts 2.5% after block deal

The stock so far has jumped 4.4 per cent at a high at Rs. 1,545. 

Sundaram Finance has jumped over 4 per cent after 1.5 per cent equity changed hands at the BSE counter in multiple block deals.

Around 16.8 lakh shares were executed at the BSE counter at Rs. 1,530.

Soon, the stock jumped to a high of Rs. 1,545 - up 4.4 per cent from its previous close. Now, the stock is up 2.5 per cent at Rs. 1,517.

The counter has seen trades of around 1.7 million shares on the BSE, as against two-week daily average volume of 3,342 shares.

Meanwhile, the Sensex has shed 71 points at 28,937. 

NTPC approves thermal power project in MP; stock flat

The stock has hit a high of Rs. 148 and a low of Rs. 146.

Shares of NTPC Ltd were trading flat 0.21% at Rs. 146.30 on BSE today. The stock has hit a high of Rs. 148 and a low of Rs. 146.

The company has accorded the investment approval for the Khargone Super Thermal Power Project (2 x 660 MW) in the state of Madhya Pradesh at an appraised current estimated cost of Rs. 9870.51 Crore subject to Environment Clearance of Ministry of Environment and Forests.

Further, the Board of Directors has also accorded approval to the proposal for NTPC's commitment to Government of India for setting up 10000 MW of Renewable Energy Projects during the next five years.

Total traded quantity on the counter stood at over 0.42 lk shares.

Meanwhile, the benchmark BSE Sensex is trading at 28,933 down 75 points.

Tata Elxsi stock hits 5% upper circuit

The stock has hit a high of Rs. 1084 and a low of Rs. 1026. 

Shares of Tata Elxsi hits 5% upper circuit at Rs 1071.

The stock has hit a high of Rs 1084 and a low of Rs 1026.

Total traded quantity on the counter stood at over 0.97 lk shares.

Meanwhile Sensex is trading at 28,917 down 90 points, while Nifty is trading at 8745 down 21 points.

Wockhardt stock down 4%

The stock has hit a high of Rs 1618 and a low of Rs 1539.

Shares of Wockhardt Ltd was down 4% at Rs 1541.

The stock has hit a high of Rs 1618 and a low of Rs 1539.

Total traded quantity on the counter stood at over 1.46 lk shares.

Meanwhile Sensex is trading at 28,917 down 90 points, while Nifty is trading at 8745 down 21

LME Inventories Data

LME Inventories Data

LME Inventories Data - Feb. 26,2016

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Budget bytes

Ahead of the Budget D-Day, here’s a quick media round-up of what corporate honchos across verticals and spheres and global financial market bigwigs had to say on the macro and micro aspects of economy, industry and bourses.

Shankar Sharma, Joint MD, First Global Group feels optimistic about the prospects of consumer goods sector in the light of resilient corporate performance, falling inflation, rising tech-driven employment numbers and better pay packets which collectively stand to culminate in better sales of cars, household products and other durables. This growth, he contends, would be driven by better volumes in the coming quarters. He doesn’t foresee any remarkable momentum for banks from lower interest rates but is more positive about the PSU players within the given space.    

Stephen Schwartzman, Co-founder, Blackstone believes India is re-emerging as a fruitful investment destination under the pro-business initiatives of the new government. He’s upbeat about real estate, power, infra and consumer durables. He also feels the hotel sector is still besieged with numerous approvals that adversely affect its ease-of-doing business ratings.
 
James McCormack, Global Head – Sovereign Ratings, Fitch expects Dollar-Euro parity by year-end while anticipating US GDP around 3 per cent.  He contends India won’t be impacted by US Fed rate hikes given its relatively low dependence on global capital markets. He also feels oil prices have touched bottom-levels and won’t fall further but does not completely rule out the possibility of an abrupt downhill slide in the short term. He confirms a stable Fitch outlook on India subject to its demonstrated commitment to structural reforms and lowering of governmental debt. As for the budget, he would look at India’s fiscal deficit target and sustainable revenue positioning as key factors to decide on any rating upgrades.     
 
Manish Agarwal, Partner & Leader – Capital Projects & Infrastructure, PWC India points out the glaring need to aggressively remove the land acquisition hurdles and the roadblock of other state-level and local-level clearances that have needlessly the EPC Model NHAI projects. This, he feels, will free up capital and enable contractors to take on fresh EPC projects. The PPP model in his reckoning will prove fruitful only if the financial distress of the banking sector from the pending project burden is resolved and low-risk based concession structures and long-term financing is made available on a larger scale.
 
Celebrated investor Jim Rogers feels India urgently needs to restore the confidence of foreign investors as nothing substantial has happened on the execution front in the nine months of the PM Modi government. The only bright spot, he observes, is the buoyancy of the stock markets but its longevity is dependent on India’s demonstrated efforts to break its overprotective shell. Rogers however is appreciative of the RBI monetary policy which he feels is line with the need of the hour. He attributes the fall in crude oil prices to political factors, is bullish on dollar upsurge and expects a better scenario for Gold within a year.
 
Hironori Kanayama, CEO, Honda Motors expects the budget to offer growth incentives to the auto sector. He feels the Indian market is likely to open its doors to premium cars like China did once the economy picks greater momentum. The company plans to expand its 150-city dealer network to 230 from the current 217.  The proposed Gujarat plant would gain traction; he made clear, solely depending on desirable production capacity and sales estimates. 
 
Tapan Kumar Das, CEO and co-founder, iTiffin.in wants the government to reduce healthcare costs to better address the health concerns emanating from lifestyle irregularities. He suggested the inclusion of nutrition services and health food under Health Services to qualify as a service within the Service Tax fold. He feels Food Technology should be exempt from import duty, more tax benefits should be extended to Nutrition and Health Food services and Nutrition & Diet Plan should be covered under Mediclaim policies.     
 
Suresh Sharma, Founder & Director, iSpyPrice.com sees the GST as a silver bullet to solve many tax issues. He wants the service tax on online advertisements abolished to help internet publishing companies generate credible and valuable content. He seeks more clarification on the service tax applicability for advertisement income and asks for the abolition of Minimum Alternate Tax (MAT) for the e-commerce sector.
 
Swaminathan Vedaranyam, CEO, VIA.com asks for a clear, concise and well-defined policy for the travel industry.  He highlights the need for developing tourist hotspots appealing to both domestic and foreign travelers. He sees the revival of tier II and II cities airports and rationalization of air travel taxes critical to travel and tourism growth.