Market will be volatile

For the next two days market will be volatile. Please read my yesterday's post. Before investing also read this BusinessLine article.

Highlights of Monetary Policy


Highlights of the First Quarter Review of the Annual Statement of Monetary Policy

  • Bank Rate kept unchanged.
  • Reverse Repo Rate under LAF kept unchanged.
  • Repo Rate increased by 50 basis points from 8.5 per cent to 9.00 per cent.
  • Cash Reserve Ratio to be increased by 25 basis points to 9.0 per cent with effect from the fortnight beginning August 30, 2008.
  • GDP growth projection for 2008-09 revised from the range of 8.0-8.5 per cent to around 8.0 per cent, barring domestic or external shocks.
  • While the policy actions would aim to bring down the current intolerable level of inflation to a tolerable level of below 5.0 per cent as soon as possible and around 3.0 per cent over the medium-term, at this juncture a realistic policy endeavour would be to bring down inflation from the current level of about 11.0-12.0 per cent to a level close to 7.0 per cent by March 31, 2009.
  • While there are early signs of some moderation in money supply and deposit growth, they continue to expand above the indicative projections warranting continuous vigilance and appropriate and timely policy responses.
  • In view of the evolving environment of heightened uncertainty in global markets and the dangers of potential spillovers to domestic markets, liquidity management will continue to receive priority in the hierarchy of policy objectives over the period ahead.
  • Barring the emergence of any adverse and unexpected developments in various sectors of the economy, assuming that capital flows are effectively managed, and keeping in view the current assessment of the economy including the outlook for growth and inflation, the overall stance of monetary policy in 2008-09 will broadly continue to be:
  • To ensure a monetary and interest rate environment that accords high priority to price stability, well-anchored inflation expectations and orderly conditions in financial markets while being conducive to continuation of the growth momentum.
  • To respond swiftly on a continuing basis to the evolving constellation of adverse international developments and to the domestic situation impinging on inflation expectations, financial stability and growth momentum, with both conventional and unconventional measures, as appropriate.
  • To emphasise credit quality as well as credit delivery, in particular, for employment-intensive sectors, while pursuing financial inclusion. 

Source: RBI Press Release

 


 


Market expected to be volatile

Today's market is expected to be volatile with downward bias. RBI Governor is holding the keys for today's market direction. Crude oil rose after militant attacks Nigerian output and Global equity expected to be range bound. Buy Indian Hotels and PNB Gilts for quick 10% profit. You can also consider buying July Nifty 4300 Put for a decent profit. Watch Polaris, as the stock rose yesterday with exceptional volume.

Market may not go up significantly

Nifty made double bottom on July,22 and technically it should reach 4600. But market may not obey the technicals. Market may go up or down depending on the following event triggers.
  1. Crude rate ( close above $130 would affect the market badly but not necessarly the economy)
  2. Credit policy announcement on 29.07.2008. (Further CRR hike may pull the market down)
  3. F&O settlement on 31.07.2008 & Inflation data on the same day
  4. Company earning results to be released in this week
  5. Terror attacks
Traders may sell Nifty 4300 calls (July) for a neat profit with a holding period of couple of days.

Stay cautious

As expected market rallied yesterday. Though all the short term indicators turned positive, Investors need to be very cautious. The conditions augur well for trading, not for investments. Don't fall pray to lure of easy money. Stay cautious with strict stop loss. Use this opportunity to pare the exposures in the fundamentally unsound companies. Inflation figures still a worry.
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Book Profit

Our heart felt congratulations to Dr.ManmohanSingh. His victory is good for country. But for the short term, market may not sustain the momentum. Today there will be a gap up opening of 100 odd points in Nifty. But sustaining that may be difficult. Hence it is advisable to book profits in F&O positions.

Prime Minister’s Reply to the Debate on the Motion of Confidence in Lok Sabha on 22nd July, 2008

The Leader of Opposition, Shri L.K. Advani has chosen to use all manner of abusive objectives to describe my performance. He has described me as the weakest Prime Minister, a nikamma PM, and of having devalued the office of PM. To fulfill his ambitions, he has made at least three attempts to topple our government. But on each occasion his astrologers have misled him. This pattern, I am sure, will be repeated today. At his ripe old age, I do not expect Shri Advani to change his thinking. But for his sake and India's sake, I urge him at least to change his astrologers so that he gets more accurate predictions of things to come.

As for Shri Advani's various charges, I do not wish to waste the time of the House in rebutting them. All I can say is that before leveling charges of incompetence on others, Shri Advani should do some introspection. Can our nation forgive a Home Minister who slept when the terrorists were knocking at the doors of our Parliament? Can our nation forgive a person who single handedly provided the inspiration for the destruction of the Babri Masjid with all the terrible consequences that followed? To atone for his sins, he suddenly decided to visit Pakistan and there he discovered new virtues in Mr. Jinnah. Alas, his own party and his mentors in the RSS disowned him on this issue. Can our nation approve the conduct of a Home Minister who was sleeping while Gujarat was burning leading to the loss of thousands of innocent lives? Our friends in the Left Front should ponder over the company they are forced to keep because of miscalculations by their General Secretary.

As for my conduct, it is for this august House and the people of India to judge. All I can say is that in all these years that I have been in office, whether as Finance Minister or Prime Minister, I have felt it as a sacred obligation to use the levers of power as a societal trust to be used for transforming our economy and polity, so that we can get rid of poverty, ignorance and disease which still afflict millions of our people. This is a long and arduous journey. But every step taken in this direction can make a difference. And that is what we have sought to do in the last four years. How far we have succeeded is something I leave to the judgement of the people of India.

When I look at the composition of the opportunistic group opposed to us, it is clear to me that the clash today is between two alternative visions of India's future. The one vision represented by the UPA and our allies seeks to project India as a self confident and united nation moving forward to gain its rightful place in the comity of nations, making full use of the opportunities offered by a globalised world, operating on the frontiers of modern science and technology and using modern science and technology as important instruments of national economic and social development. The opposite vision is of a motley crowd opposed to us who have come together to share the spoils of office to promote their sectional, sectarian and parochial interests. Our Left colleagues should tell us whether Shri L.K. Advani is acceptable to them as a Prime Ministerial candidate. Shri L.K. Advani should enlighten us if he will step aside as Prime Ministerial candidate of the opposition in favour of the choice of UNPA. They should take the country into confidence on this important issue.

I have already stated in my opening remarks that the House has been dragged into this debate unnecessarily. I wish our attention had not been diverted from some priority areas of national concern. These priorities are :

(i) Tackling the imported inflation caused by steep increase in oil prices. Our effort is to control inflation without hurting the rate of growth and employment.

(ii) To revitalize agriculture. We have decisively reversed the declining trend of investment and resource flow in agriculture. The Finance Minister has dealt with the measures we have taken in this regard. We have achieved a record foodgrain production of 231 million tones. But we need to redouble our efforts to improve agricultural productivity.

(iii) To improve the effectiveness of our flagship pro poor programmes such as National Rural Employment Programme, Sarva Shiksha Abhiyan, Nation-wide Mid day meal programme, Bharat Nirman to improve the quality of rural infrastructure of roads, electricity, safe drinking water, sanitation, irrigation, National Rural Health Mission and the Jawaharlal Nehru National Urban Renewal Mission. These programmes are yielding solid results. But a great deal more needs to be done to improve the quality of implementation.

(iv) We have initiated a major thrust in expanding higher education. The objective is to expand the gross enrolment ratio in higher education from 11.6 per cent to 15 per cent by the end of the 11th Plan and to 21% by the end of 12th Plan. To meet these goals, we have an ambitious programme which seeks to create 30 new universities, of which 14 will be world class, 8 new IITs, 7 new IIMs, 20 new IIITs, 5 new IISERs, 2 Schools of planning and Architecture, 10 NITs, 373 new degree colleges and 1000 new polytechnics. And these are not just plans. Three new IISERs are already operational and the remaining two will become operational from the 2008-09 academic session. Two SPAs will be starting this year. Six of the new IITs start their classes this year. The establishment of the new universities is at an advanced stage of planning.

(v) A nation wide Skill Development Programme and the enactment of the Right to Education Act,

(vi) Approval by Parliament of the new Rehabilitation and Resettlement policy and enactment of legislation to provide social security benefits to workers in the unorganized sector.

(vii) The new 15 Point Programme for Minorities, the effective implementation of empowerment programmes for the scheduled castes, scheduled tribes, paying particular emphasis on implementation of Land Rights for the tribals.

(viii) Equally important is the effective implementation of the Right to Information Act to impart utmost transparency to processes of governance. The Administrative Reforms Commission has made valuable suggestions to streamline the functioning of our public administration.

(ix) To deal firmly with terrorist elements, left wing extremism and communal elements that are attempting to undermine the security and stability of the country. We have been and will continue to vigorously pursue investigations in the major terrorist incidents that have taken place. Charge-sheets have been filed in almost all the cases. Our intelligence agencies and security forces are doing an excellent job in very difficult circumstances. They need our full support. We will take all possible steps to streamline their functioning and strengthen their effectiveness.

Considerable work has been done in all these areas but deba tes like the one we are having detract our attention from attending to these essential programmes and remaining items on our agenda. All the same, we will redouble our efforts to attend to these areas of priority concerns.

I say in all sincerity that this session and debate was unnecessary because I have said on several occasions that our nuclear agreement after being endorsed by the IAEA and the Nuclear Suppliers Group would be submitted to this august House for expressing its view. All I had asked our Left colleagues was : please allow us to go through the negotiating process and I will come to Parliament before operationalising the nuclear agreement. This simple courtesy which is essential for orderly functioning of any Government worth the name, particularly with regard to the conduct of foreign policy, they were not willing to grant me. They wanted a veto over every single step of negotiations which is not acceptable. They wanted me to behave as their bonded slave. The nuclear agreement may not have been mentioned in the Common Minimum Programme. However, there was an explicit mention of the need to develop closer relations with the USA but without sacrificing our independent foreign policy. The Congress Election Manifesto had explicitly referred to the need for strategic engagement with the USA and other great powers such as Russia.

In 1991, while presenting the Budget for 1991-92, as Finance Minister, I had stated : No power on earth can stop an idea whose time has come. I had then suggested to this august House that the emergence of India as a major global power was an idea whose time had come.

Carrying forward the process started by Shri Rajiv Gandhi of preparing India for the 21st century, I outlined a far reaching programme of economic reform whose fruits are now visible to every objective person. Both the Left and the BJP had then opposed the reform. Both had said we had mortgaged the economy to America and that we would bring back the East India Company. Subsequently both these parties have had a hand at running the Government. None of these parties have reversed the direction of economic policy laid down by the Congress Party in 1991. The moral of the story is that political parties should be judged not by what they say while in opposition but by what they do when entrusted with the responsibilities of power.

I am convinced that despite their opportunistic opposition to the nuclear agreement, history will compliment the UPA Government for having taken another giant step forward to lead India to become a major power centre of the evolving global economy. Jawaharlal Nehru's vision of using atomic energy as a major instrument of development will become a living reality.

What is the nuclear agreement about? It is all about widening our development options, promoting energy security in a manner which will not hurt our precious environment and which will not contribute to pollution and global warming.

India needs to grow at the rate of at least ten per cent per annum to get rid of chronic poverty, ignorance and disease which still afflict millions of our people. A basic requirement for achieving this order of growth is the availability of energy, particularly electricity. We need increasing quantities of electricity to support our agriculture, industry and to give comfort to our householders. The generation of electricity has to grow at an annual rate of 8 to 10 per cent.

Now, hydro-carbons are one source of generating power and for meeting our energy requirements. But our production of hydro-carbons both of oil and gas is far short of our growing requirements. We are heavily dependent on imports. We all know the uncertainty of supplies and of prices of imported hydro-carbons.

We have to diversify our sources of energy supply.

We have large reserves of coal but even these are inadequate to meet all our needs by 2050. But more use of coal will have an adverse impact on pollution and climate. We can develop hydro-power and we must. But many of these projects hurt the environment and displace large number of people. We must develop renewable sources of energy particularly solar energy. But we must also make full use of atomic energy which is a clean environment friendly source of energy. All over the world, there is growing realization of the importance of atomic energy to meet the challenge of energy security and climate change.

India's atomic scientists and technologists are world class. They have developed nuclear energy capacities despite heavy odds. But there are handicaps which have adversely affected our atomic energy programme. First of all, we have inadequate production of uranium. Second, the quality of our uranium resources is not comparable to those of other producers.Third, after the Pokharan nuclear test of 1974 and 1998 the outside world has imposed embargo on trade with India in nuclear materials, nuclear equipment and nuclear technology. As a result, our nuclear energy programme has suffered. Some twenty years ago, the Atomic Energy Commission had laid down a target of 10000 MW of electricity generation by the end of the twentieth century. Today, in 2008 our capacity is about 4000 MW and due to shortage of uranium many of these plants are operating at much below their capacity.

The nuclear agreement that we wish to negotiate will end India's nuclear isolation, nuclear apartheid and enable us to take advantage of international trade in nuclear materials, technologies and equipment. It will open up new opportunities for trade in dual use high technologies opening up new pathways to accelerate industrialization of our country. Given the excellent quality of our nuclear scientists and technologists, I have reasons to believe that in a reasonably short period of time, India would emerge as an important exporter of nuclear technologies, and equipment for civilian purposes.

When I say this I am reminded of the visionary leadership of Shri Rajiv Gandhi who was a strong champion of computerization and use of information technologies for nation building. At that time, many people laughed at this idea. Today, information technology and software is a sun-rise industry with an annual turnover soon approaching 50 billion US dollars. I venture to think that our atomic energy industry will play a similar role in the transformation of India's economy.

The essence of the matter is that the agreements that we negotiate with USA, Russia, France and other nuclear countries will enable us to enter into international trade for civilian use without any interference with our strategic nuclear programme. The strategic programme will continue to be developed at an autonomous pace determined solely by our own security perceptions. We have not and we will not accept any outside interference or monitoring or supervision of our strategic programme. Our strategic autonomy will never be compromised. We are willing to look at possible amendments to our Atomic Energy Act to reinforce our solemn commitment that our strategic autonomy will never be compromised.

I confirm that there is nothing in these agreements which prevents us from further nuclear tests if warranted by our national security concerns. All that we are committed to is a voluntary moratorium on further testing. Thus the nuclear agreements will not in any way affect our strategic autonomy. The cooperation that the international community is now willing to extend to us for trade in nuclear materials, technologies and equipment for civilian use will be available to us without signing the NPT or the CTBT.

This I believe is a measure of the respect that the world at large has for India, its people and their capabilities and our prospects to emerge as a major engine of growth for the world economy. I have often said that today there are no international constraints on India's development. The world marvels at our ability to seek our social and economic salvation in the framework of a functioning democracy committed to the rule of law and respect for fundamental human freedoms. The world wants India to succeed. The obstacles we face are at home, particularly in our processes of domestic governance.

I wish to remind the House that in 1998 when the Pokharan II tests were undertaken, the Group of Eight leading developed countries had passed a harsh resolution condemning India and called upon India to sign the NPT and CTBT. Today, at the Hokkaido meeting of the G-8 held recently in Japan, the Chairman's summary has welcomed cooperation in civilian nuclear energy between India and the international community. This is a measure of the sea change in the perceptions of the international community our trading with India for civilian nuclear energy purposes that has come about in less than ten years.

Our critics falsely accuse us, that in signing these agreements, we have surrendered the independence of foreign policy and made it subservient to US interests. In this context, I wish to point out that the cooperation in civil nuclear matters that we seek is not confined to the USA. Change in the NSG guidelines would be a passport to trade with 45 members of the Nuclear Supplier Group which includes Russia, France, and many other countries.

We appreciate the fact that the US has taken the lead in promoting cooperation with India for nuclear energy for civilian use. Without US initiative, India's case for approval by the IAEA or the Nuclear Suppliers Group would not have moved forward.

But this does not mean that there is any explicit or implicit constraint on India to pursue an independent foreign policy determined by our own perceptions of our enlightened national interest. Some people are spreading the rumours that there are some secret or hidden agreements over and above the documents made public. I wish to state categorically that there are no secret or hidden documents other than the 123 agreement, the Separation Plan and the draft of the safeguard agreement with the IAEA. It has also been alleged that the Hyde Act will affect India's ability to pursue an independent foreign policy. The Hyde Act does exist and it provides the US administration the authorization to enter into civil nuclear cooperation with India without insistence on full scope safeguards and without signing of the NPT. There are some prescriptive clauses but they cannot and they will not be allowed to affect in any way the conduct of our foreign policy. Our commitment is to what has been agreed in the 123 Agreement. There is nothing in this Agreement which will affect our strategic autonomy or our ability to pursue an independent foreign policy. I state categorically that our foreign policy, will at all times be determined by our own assessment of our national interest. This has been true in the past and will be true in future regarding our relations with big powers as well as with our neighbours in West Asia, notably Iran, Iraq, Palestine and the Gulf countries.

We have differed with the USA on their intervention in Iraq. I had explicitly stated at a press conference at the National Press Club in Washington DC in July 2005 that intervention in Iraq was a big mistake. With regard to Iran, our advice has been in favour of moderation and we would like that the issues relating to Iran's nuclear programme which have emerged should be resolved through dialogue and discussions in the framework of the International Atomic Energy Agency.

I should also inform the House that our relations with the Arab world are very good. Two years ago, His Majesty, King Abdullah of Saudi Arabia was the Chief Guest at our Republic Day. More recently, we have played host to the President of Iran, President of Syria, the King of Jordan, the Emir of Qatar and the Emir of Kuwait. With all these countries we have historic civilisational and cultural links which we are keen to further develop to our mutual benefit. Today, we have strategic relationship with all major powers including USA, Russia, France, UK, Germany, Japan, China, Brazil, Nigeria and South Africa. We are Forging new partnerships with countries of East Asia, South East Asia and Africa.

CONCLUSION


The Management and governance of the world's largest, most diverse and most vibrant democracy is the greatest challenge any person can be entrusted with, in this world. It has been my good fortune that I was entrusted with this challenge over four years ago. I thank with all sincerity the Chairperson of the UPA, the leaders of the Constituent Parties of the UPA and every member of my Party for the faith and trust they reposed in me. I once again recall with gratitude the guidance and support I have received from Shri Jyoti Basu and Sardar Harkishen Singh Surjeet.

I have often said that I am a politician by accident. I have held many diverse responsibilities. I have been a teacher, I have been an official of the Government of India, I have been a member of this greatest of Parliaments, but I have never forgotten my life as a young boy in a distant village.

Every day that I have been Prime Minister of India I have tried to remember that the first ten years of my life were spent in a village with no drinking water supply, no electricity, no hospital, no roads and nothing that we today associate with modern living. I had to walk miles to school, I had to study in the dim light of a kerosene oil lamp. This nation gave me the opportunity to ensure that such would not be the life of our children in the foreseeable future.

Sir, my conscience is clear that on every day that I have occupied this high office, I have tried to fulfill the dream of that young boy from that distant village.

The greatness of democracy is that we are all birds of passage! We are here today, gone tomorrow! But in the brief time that the people of India entrust us with this responsibility, it is our duty to be honest and sincere in the discharge of these responsibilities. As it is said in our sacred texts, we are responsible for our actions and we must act without coveting the rewards of such action. Whatever I have done in this high office I have done so with a clear conscience and the best interests of my country and our people at heart. I have no other claims to make.

Market will be volatile

Market will be volatile. No doubts about this and no prizes for guessing. Every passing hours there are new developments on political front. Market is going to be trader's paradise for the next two days. Don't commit your funds for the first two days. Investment decisions should be made after the outcome of the confidence motion known. Traders can trade 3600 puts and 4100 calls for intra day profit. I wish Dr.Manmohan Singh every success.

"Sensex Will Cross 18000 in less than a year" - Business India


"Sensex Will Cross 18000 in less than a year" . This call is not from our regular TV experts. From India's Most Reputed, No nonsense , Carpet Bombing "Business India" ( Issue dated July27, 2008). I always trust Business India. Their top picks include L&T, Reliance Industries, Neyveli Lignite, Rallis India, PSL, Pfizer, Bayer Crop Science, Indsil Electrosmelt, Bombay Rayon and Patel Engineering. Another intresting thing in this issue is their editorial views on Ambani Brothers war entitled " A conspiracy theory - Two siblings play a new circus game to keep competitors at bay". Title says it all.

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Tata Consultancy Services Ltd (Q1 FY09): ‘Sedate performance’ Says India Infoline



CMP Rs728 , BUY

Target price Rs875, Upside 20%

  • Dollar revenue growth disappoints plagued by issues with respect to key clients
  • Sluggish growth in BFSI continues; growth witnessed in ADM and some newer services
  • OPM decline of 110 bps qoq was lower than anticipated
  • Net profit beats estimate aided by change in depreciation policy
  • Employee addition was healthy but attritio n inches up again
  • Rate TCS as BUY with target price Rs875; short-term outperformance likely

Clickhere for the quarterly update of TCS.

Warm Regards,

India Infoline Research Team


FMP Update




 

Post tax returns are much more lucrative. Kindly take out some time from your busy schedule and do advice to your esteemed investors to look for a good investment opportunity in current scenario.

 

Particulars

HSBC MF

Birla MF

TATA MF

JM MF

HDFC MF

HDFC MF

Scheme Name

HSBC FTS 60

Fixed Term Plan - Series AZ

Fixed Investment Plan - 2 Scheme B

Series XI

FMP 370D

FMP 90D

FMP Period

371days

371 Days

13 Months

395 Days

370 Days

90 Days

Yield

10.35%

10.35%

10.40%

10.45%

 

 

Post Tax return

9.12%

9.12%

9.15%

9.27%

 

 

Closes On

23-Jul-08

21-Jul-08

22-Jul-08

23-Jul-08

22-Jul-08

22-Jul-08

Min Amount

Rs 10,000

Rs 10,000

Rs 10,000

Rs 10,000

Rs 10,000

Rs 10,000


 

 


Going for online shopping - Compare the prices with Naaptol.com


Going for online shopping - Compare the prices with Naaptol.com.
naaptol.com is equipped with latest web 2.0 technologies with focus on exhaustive content around the products prominent in Indian market. It currently features products from categories such as cameras, computers and peripherals, consumer electronics, mobile phones, jewellery items and gift items. They included only quality products on this portal along with many intelligent algorithms like filters and similar products, the concept of social shopping, etc to make your shopping experience simple and exciting.

Worth trying. Really helps you to save money.

Bihar Tubes may go up another 10%

Ha, Ha. Crude touches 148$ mark. Great. This news alone sufficient to punch down market. But Friday's fall seems to be manufactured rather than due to IIP data. The answer lies with Mukesh Ambani. Purely on technicals, following stocks may go up another 10%
  1. Bihar Tubes
  2. NALCO
  3. KS Oil Ltd

Gmail 'Undefined Problem" -How to solve?

Gmail screenshotImage via WikipediaStill Gmail "Undefined" problem in Firefox3 is not resolved. You also couldn't able to send email as compose window won't load properly. Till Gmail solves this problem, How to over come this
Solution 1 : Switch to older version of Gmail, by clicking link available at the right top of the gmail window. Though it limits your Gmail experience, it solves the undefined problem.
Solution 2 : Access your gmail from browsers other than Firefox as this problem occurs only in Firefox.
Solution 3 : Disable "Gmail Label colors" in the Grease monkey Add-on. It solves the problem altogether.
Solution 4 : Disable "Better Gmail" Add-on

If you know any work around, please post them in the comments. Solution 3 works for me.
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UTI ULIP with added features

Monthly SIP
+ Life Insurance upto 15 lacks
+ Accident Cover
+ Tax Exemption U/S 80 C
+ Maturity Bonus
+ Lowest cost product in the Insurance & Mutual fund industry
+ Single Premium Facility /Flexibility for Advance payment of Contributions & all the other existing features

Multiple benefits for the investor :
•        Higher Life Insurance Cover : Target Amount increased to Rs. 15 Lacs
•        Life Insurance Cover at a low cost
•        No medical examination  for cover
•        Personal accident cover upto Rs. 50,000/-
•        Cover to continue even in case of non-receipt of installment
•        Tax Benefit : Opportunity to save tax under Sec 80 C  of IT Act , 1961
•        No tax deducted at source
Presenting UTI-ULIP with enhanced features: An open ended tax saving cum insurance scheme.
Investment Objective is to provide return through growth in the NAV or through dividend distribution and reinvestment thereof.  Amounts collected under the scheme shall generally be invested as follows:

(i) Not less than 60% of the funds in debt instruments with low to medium risk profile.
(ii) Not more than 40% of the funds in equities and equity related instruments.
Asset allocation:
Debt - Minimum 60% Maximum 100%
Equity - Minimum 0% Maximum 40%
Scheme Features :
-        Minimum Target Amount Rs 15000
-        Maximum Target Amount -  Rs 15 Lakhs w.e.f. 07.07.08.
-        Flexibility for Advance payment of Contributions to time the Market.
-        A scheme for all the members of the family fulfilling varying needs.
-        Anyone between 12 and 55 1/2 can invest in the scheme
-        Lowest cost product in the insurance industry and mutual fund industry
-        Liquidity – premature withdrawal in case of an emergency and partial repurchase subject to a balance
-        Units can be bought at NAV (i.e. no entry load) and repurchased at NAV after the 10 / 15 years
-        Maturity bonus of 5% & 7.5% on 10 yr & 15 yr plans respectively
Greater flexibility for the investor :
•        SIP Mode of investment : Systematic investment plan for a disciplined investment approach.
•        Now you can invest in UTI ULIP through the easy and convenient route of systematic monthly instalments also!! •        

•        Can start an SIP with as low as Rs 500/- per month
•        Flexibility to invest higher than the target amount
•        Choice to investor for fixed or declining term cover
Choose the insurance you need : UTI ULIP offers you two distinct options –
•        Fixed Term: A type of pure life insurance policy where the life coverage remains the same during the entire term of the policy.
•        Ideal for an investor who prefers a larger insurance cover
•        Declining Term: A type of pure life insurance policy where the life coverage reduces during the entire term of the policy
•        Ideal for an investor who needs an insurance cover towards meeting a specific financial liability
Monthly SIP under UTI-ULIP & Features
•        SIP Mandate Form should be submitted at least 1 month before the first SIP instalment date.
•        The period of SIP shall be the plan period chosen by the investor i.e. 10 years or 15 years.
•        Investors will be considered to be under the yearly mode of contribution and annual payment of premium will be applicable.
•        The premium payable for a year will be deducted from the first SIP instalment received that year.
•        Post Dated Cheques will have to be given for a period of at least 2 years at a time.
•        Existing Investor cannot start the SIP for target amounts already chosen by him. SIP can be started only for additional target amounts.

Entry Load 2.25% (Other Insurance ULIP it is 12-35%).

Annual Expense 1.6% ( Other Insurance ULIP it is 2-4%)With the added features, the new avtar of UTI ULIP has made it more attractive

ICICI Bank Branch free banking only for metros?!

Qantas Frequent Flyer co-branded credit cardsImage via Wikipedia
It is very disappointing that ICICI Bank's new "branch free banking" is currently available to customers reside in metros and major cities. I can't understand the rational for this. It may be due to the fact their online "receive cash from other banks" work in selected cities. I am having salary A/c at ICICI Bank and I may be allowed to open another Branch Free A/c just to earn higher interest and funding from my old ICICI Bank A/c is very easy also. ICICI Bank should alow its exisisting customers ( residing all over India) to open an "Branch free A/c' online (without any addtional offline work, KYC documents).
It may not be very difficult for them as I was provided their Platinum Credit Card with out any offline work. Yes. No photos, No signature, No address proof.............
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Send money to any mobile in India - Withdraw cash from ATM without ATM card or Bank A/c

ICICI bank introduces a new facility called SMSNCASH. You can send money upto Rs.10000 to any mobile No. He can withdraw that cash from specified ICICI Bank ATM without any ATM card.
Receiver can be self , 3rd party, friends, family who may / may not have any Bank account.

Steps
You should

Step 1 : Login to www.icicibank.com, using your ICICI Bank Internet Banking user ID and password.


Step 2 : Place a request for remittance after entering beneficiary mobile number and amount to be remitted.


Following steps are required to be followed for cash withdrawal from ATM
  • You (Remitter) will receive SMS containing 4-digit code of the transaction.

  • Beneficiary will receive SMS containing 6-digit code of the transaction.

  • You (Remitter) are to communicate 4-digit code and transaction amount to the beneficiary.

  • Beneficiary to visit any specified ICICI Bank ATM and enter following values :10 digit beneficiary mobile number, 4-digit code, 6-digit code and transaction amount.

  • Beneficiary confirms the values entered.

  • Beneficiary can collect the cash dispensed by the ATM.
For more details please click here.This facility would be very helpful to transfer money to the persons who didn't have any bank A/c.

Buy Aarti Industries

Today market will be less volatile as the negative factors influenced the market for the last couple of weeks taking back seat for now. Today's big events are Infosys results (9.30 AM IST) and Inflation data (11AM IST).
Some stocks for medium term
1. Aarti Industries
2. Indusind bank

Update
My prediction doesn't hold good for today's market. I didn't anticipate this much down side. I apologize for that.

10% cash back on Barclays Debit card purchases

  • Cash back applicable for all legitimate spends across any category of spending in Indian rupees only.
  • Offer applicable to customers having a Barclays Classic and / or Platinum Debit Card.
  • 10% Cash Back is on a minimum of 3 transactions per month and Spend a minimum of Rs.500 per transaction
  • Maximum cash back payable is Rs. 500 per month ( So total monthly spend of Rs.5000 is eligible for cash back0
  • Maximum cash back payable for the entire offer period is Rs. 1500
For more details please click here.

Gmail has 'undefined' Problem

Sign at the GoogleplexImage via Wikipedia
Today I am having unusual problem. Gmail didn't show email address, instead showing 'undefined'. From, To and date fields also showing "undefined". I couldn't able to get compose window. Hope Google would soon resolve the problem.











Update : For solutions Please Click here

Zemanta Pixie

BSNL offers free insurance coverage for its subscribers

BSNL offers free insurance coverage for its subscribers in case of :Accidental death, Permanent total disability due to accident
Permanent Total Disability means: Loss of sight of both eyes, Physical separation of or loss of ability to use both hands or both feet, Physical separation of or loss of ability to use one hand and one foot and Loss of sight of one eye and physical separation of or loss or ability to use either one hand or one foot.
The insurance coverage scheme will be applicable for the subscribers of landline including WLL & postpaid Cellular services. This scheme will not be applicable for subscribers under Government, PSU, Corporate customers, NGOs, PCOs etc. Only distinctively identifiable individuals shall be benefited.
Capital sum insured per connection is Rs.50000. If a customer has four connections i.e. two landlines, one WLL & one postpaid mobile or vice versa, then total insurance coverage of that customer will be Rs.2.00 lakhs instead of Rs.50000/-.
The period of insurance will be initially for one year from 14th January, 2008 (starting from midnight of 13th January, 2008).

For more information, Please click here.

BSNL Customers can get discount for online tax Return submission through Taxsmile

Good news to BSNL customers. Now TAXSMILE offers discount to BSNL customers for online Tax Return Preparation and submission. You can submit return for only Rs.36 instead of Rs.150 (MRP). For more information please click here.

ICICI Bank introduces Branch Free Virtual Banking in India

If you are a person, conduct your banking transactions only online, ICICI Bank has introduced a new product for you. In addition to easy access and anytime anywhere banking, customers opting for “b2-Branch-free Banking” can benefit from zero charges and no minimum balance. The customers will also benefit from quantum optima facility, wherein if the balance exceeds Rs 5,000, the money is automatically transferred, in multiples of Rs 5,000, to a linked fixed deposit which will earn ICICI Bank fixed deposit rates. With your b2 Savings Account come unique features like the eWallet and "virtual credit card". These will make your world of e-transactions faster, better and even more secure! Now have enhanced security for transactions on your online account! The "b2 Security Card" provides a two factor authentication in addition to your transaction password. For financial transactions on this account, you will be randomly asked 3 out of the 16 numeric values printed on this card and only after you enter the correct values, the transaction will be confirmed.

For more information please click here.

Pay your Cellone Bill online and Get 1% Discount

BSNL has introduced online bill payment facility for it's cellone customers. Subscribers should register (one time registration) for this facility at this portal. All online payments would entitle you to get 1% discount in the subsequent bill.
Andhra Pradesh(Chittoor, Eluru, Guntur, Hyderabad, Nellore, Rajahmundry, Vijayawada, Visakhapatnam)Punjab(Chandigarh) Customers can pay their landline bills also.
Both online bank transfer and credit card payments accepted.

Just a joke

A joke received from my Friend :

Ok, this is just a joke but it does reflects female's doing!!!!!.... , I know you've had this topic before but then whatu gonna loose reading it here ??

A Female was out golfing one day when she hit the ball into the woods. She went into the woods to look for it and found a frog in a trap. The frog said to her, "If you release me from this trap, I will grant you three wishes." The female freed the frog, and the frog said, "Thank you, but I failed to mention that there was a condition to your wishes.

Whatever you wish for, your husband will get times ten!" The female said, "That's okay." For her first wish, she wanted to be the most beautiful female in the world. The frog warned her, "You do realize that this wish will also make your husband the most handsome man in the world, an Adonis whom females will flock to". The female replied,

"That's okay, because I will be the most beautiful Female and he will have eyes only for me." So, KAZAM-she's the most beautiful Woman in the world! For her second wish, she wanted to be the richest female in the world. The frog said, "That will make your husband the richest man in the world. And he will be ten times richer than you. " The female said, "That's okay, because what's mine is his and what's his is mine." So, KAZAM-she's the richest female in the world! The frog then inquired about her third wish, and she answered, "I'd like a mild heart attack."

Moral of the story: Female are clever. Don't mess with them.

Attention female readers: This is the end of the joke for you. Stop here and continue feeling good.

Male readers: Please scroll down.






The man had a heart attack ten times milder than his wife!!!


Moral of the story: females think they're really smart.

Let them continue to think that way and just enjoy the show


PS: If you are a female and are still reading this; it only goes to show that women never listen!!! Forward this to all the guys for a good laugh, and to all the ladies who have a good sense of humour.

Tax saving Mutual Funds? Dividend or Growth Option?

There are Plethora of options available while investing in Mutual Funds. One important question while investing in Tax saving MF (ELSS) is Which option to choose. Dividend Pay out or Dividend Re investment or Growth option.
ELSS has mandatory three years lock-in period. Even though MF are for long term, if you perceive the market will go down for next one year, you have no option of taking your money. In this scenario, the Fund Manger also has no option to return part of your fund if you have chosen Growth option. If you select Dividend Pay out option, If the fund manger perceive the investment climate is not ideal for staying in the market, he may return part of your fund through Dividend pay out. Remember this is for only for Equity Linked Saving Schemes (ELSS) which has mandatory 3 years lock in period.

Book Profit in your Short Position

For now, Congress government is safe despite Big Egoist Prakash's noises. As long as Crude price is below $149.99 mark(?!) and inflation is below 13%, you can safely assume that Nifty would not go below 3750 mark. Now the point of least resistance is going to 4500 rather than declining to below 3750. If you have bought puts or sold calls, then book profit, as you may not have another chance in next 2 weeks.
My favorite for today is buy Praj Industries for Medium term with trailing stoploss ( below last week's low).
Points to remember
  1. Don't buy stocks only for Dividends.
  2. Don't buy stocks now, that are in "Buy Back Mode" ( Eg. DLF) for long term.
  3. Options are best instruments which allows you to go long as well as short with limited risk.

Diversify part of your investments into International Funds and Gold ETF


This year Indian market tumbled more than International markets. Hence you can safely invest upto 10% of your portfolio in the international funds like ING Latin America Equity Fund .
You can also invest 5-10% of your portfolio into Gold Exchange Traded funds and Gold Mutual Funds as periods of high inflation always resulted in higher gold prices.

Another site for online tax submission

Apart from www.taxsmile.com and www.taxspanner.com, you can use www.taxshax.com for online tax return submission. For more information on taxshax, click here.

Market would stabilize

Once political uncertainties are over, the market would stabilize and may go up little bit. It seems BJP would not stress No Confidence Motion and the Lefts allow our PM to attend G8 . Watch Ranbaxy and RCOM as both may go up very significantly. Inflation data would come out today and weekend factors may check any significant upward movement of Nifty and Senex.

If you still didn't receive Reliance Power Bonus Shares.............

If you still didn't receive your Reliance Power IPO Shares then try contact Company Secretary

Shri Paresh Rathod
H Block, First Floor
Dhirubhai Ambani Kowledge City
Navi Mumbai 400 710
Tel: (91 22) 3038 6172
Fax: (9122) 3037 6633
Email: reliancepower.ipo@relianceada.com

and also Registrar and Share Transfer Agent

Karvy Computershare Private Limited
Plot No. 17-24, Vittal Rao Nagar Madhapur
Hyderabad 500 081
Tel: (91 40) 2342 0815/ 2342 0816
Fax: (91 40) 2342 0859 Contact Person: Mr. J Sivakumar
Facsimile: (040) 2343 0859
Email: reliancepower.ipo@karvy.com
Email: einward.ris@karvy.com

Website: www.karvy.com

If still unresolved. Then lodge a complaint to SEBI

Caution Adviced

When market is raising, we flock to market and buy the over valued stocks and in depressed condition we sell at loss. If the reason for the yesterdays 700 points raise is due to 'DLF buy back", then market will fall flat in next few days. But for the sure I think 4000 -4500 (Nifty) is the reasonable range. For any reason Nifty falls below 3750, you can go for buying Nifty Calls and Nifty stocks for very quick profits. But if Mulayam's S.P splits or BJP forces a 'No Confidence Motion"' then the market may nose dive to 3500 mark. Buy ITC, 3i Infotech, Polaris, Dena Bank, ICICI Bank, IFCI, Cairn India, RPL, Reliance Capital and RCOM for longtem gain. Buy in very small lots.

Cheques are not needed

National Electronic Funds Transfer (NEFT) system is a nation wide funds transfer system to facilitate transfer of funds from any bank branch to any other bank branch. ICICI and HDFC bank customers can avail this service free. Online ICICI Bank customer should login to his A/c and have to choose Fund Transfer menu. Then he has to choose " Transfer Fund to Selected Non ICICI Bank A/c' menu. Intially he has to register the payee's name, A/c No., Branch Name and Bank Name. After SMS confirmation , he can freely transfer money to that A/c. HDFC Babnk online customers should choose 'Third Party Transfer" menu.The money will reach the A/c next day. NEFT is settled in six batches at 0930, 1030, 1200, 1300, 1500 and 1600 hours on weekdays and 0930, 1030 and 1200 hours on Saturdays.

The Previous RBI-EFT system is limited to the 15 RBI centres providing the facility, whereas there is no such restriction in NEFT as it is based on centralised concept. The detailed list of branches of various banks participating in NEFT system is available on RBI's website. The system also uses the state-of-the-art technology for the communication, security etc. and thereby offers means of providing better customer service.

The essential information that the remitting customer has to furnish is:Beneficiary details such as beneficiary name and account number Name and IFSC of the beneficiary bank branch(available at ICICI and HDFC banks website) . This system can be used only for remitting Indian Rupee among the participating banks within the country.

Clubbing of settlements





This is to bring to your notice that stocks bought today (June 30, 2008) cannot be sold tomorrow (July 01, 2008) as the banks are closed due to financial quarter-ending and hence there will be no Pay-in and Pay-out. Kindly note that the settlement date for both the trading days June 30, 2008 and July 01, 2008 is July 03, 2008.

 



Invest in small lots

This is the limit. I don't share the over pessimistic views of pundits.The time is now. Our economy has grown despite politicans. It would continue to grow even if the oil price touches 160 dollar mark. It is a right time to pick fundamentally sound stocks. The war between two Ambani Brothers and some insider trading of the family members of Central Ministers playing havoc on the market.
Some trading picks


  1. BGIL Films and Technology
  2. Teledata Informatics
  3. Geometric Ltd.

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