DQ Entertainment IPO opens on March 8 :
Animation and entertainment production house DQ Entertainment International Ltd today said its initial public offer (IPO) of 1.60 crore equity shares will open on March 8 and closes March 10. Last month, the company had said it has raised Rs 25.69 crore through a pre-IPO placement of equity shares with IDFC Investment Advisors (IDFC) and other corporate & High Networth Individuals. Equity shares offered through the IPO are proposed to be listed on the Bombay Stock Exchange. The IPO is based on a 100 per cent book-building process. SBI Capital Markets is the sole book running lead manager to the issue.
17 companies with Sebi nod waiting for IPOs
As many as 17 companies which have got Securities and Exchange Board of India (Sebi) clearance for initial public offers (IPOs) are yet to announce the date for their public issues. The firms are planning to raise Rs 10,000 crore from markets collectively. Companies such as Reliance Infratel, Lodha Developers, IL& FS Transportation, Nitesh Estates, DQ Entertainment (International) and AMR Constructions are among those who obtained Sebi approval but have not declared the dates.
Economic recovery incomplete, stimulus had to stay, promises more tax reforms in 2010-11 :
“Keeping the incomplete economic recovery in mind, it was my objective to keep the stimulus until we can see the fruits of economic growth spread through to all sectors of the economy...The rollback of stimulus has been only partly carried out in the matter of excise duties by 2%, which is lower than pre-stimulus rates... The government has also extended the stimulus by changing the direct tax slabs, which has put more discretionary income in the hands of the consumer...The loss of Rs 26,000 crore resulting from direct tax proposals is in my view an extension of the stimulus,” said FM
Mr Pranab Mukherjee, today said that tax reforms are a central agenda for the coming year (2010-11) and promised to bring about dramatic changes in administration besides ushering in transparency and simplicity in the tax regime. “This will help increase the tax-GDP ratio and widen the tax base”. He expressed confidence that the GDP will pick up again in the fourth quarter even as the growth rate had slipped in the third quarter to 6 per cent
India could become 4th largest manufacturing economy:
The CII-BCG report on Indian manufacturing sector said that to become the fourth largest manufacturing hub, the gross assets would need to increase by Rs 55-80 lakh crore by 2025. The country's manufacturing sector, which 13th largest in the world, expanded at 6.8 per cent over the last 10 years (1999-2009). The US is the largest manufacturing economy followed by China, Japan and Germany. Manufacturing contributes 15 per cent of India's GDP, 50 per cent of exports and 12 per cent of the workforce. On the labour policy for manufacturing industry, the CII-BCG report said India has strong labour laws protecting worker rights, however, these same rights are seen to constrain the growth of large scale manufacturing and also introduce rigidity in the labour market.
Indian operations of Standard Chartered crossed the $1-billion mark:
The profit before tax for calendar year 2009 rose 19% to $1.06 billion from $891 million in 2008. StanChart is likely to tap the Indian Depository Receipt (IDR) market around May-June of this year to raise anywhere between $750 million and $1 billion, making it the first IDR issue. For the year ended March 31, 2009, ICICI Bank had reported a net profit of Rs 3,758.13 crore, HDFC Bank Rs 2,245 crore, SBI Rs 9,121 crore, Punjab National Bank Rs 3,090.9 crore.
Vijaya Bank expects Rs 7 billion of recap from Government
State-run Vijaya Bank expects to get 7 billion rupees of capital from the government, part of which is expected by March-end. It also expects to get a pie of the Rs 165 billion recapitalisation plan announced by Finance Minister. The bank is also planning to sell non-performing assets worth Rs 2-2.5 billion by March-end
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1 comment:
inconsistency will hamper your fan base sir. can you please be regular for your followers.
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