The government today gave commodity exchanges time till Jun 30 to comply
with its foreign investment norms. The government had laid new foreign
investment norms for commodity exchanges in Mar 2008, by which total foreign investment was capped at 49%, including 23% portfolio investment and 26% foreign direct investment.
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State-run National Aluminium Co. Ltd. has cut aluminium product prices by
4,000 rupees a tn with immediate effect, B.L. Bagra, director (finance) said
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Currency derivatives trading to start on NSE from Aug 29

Trading in currency derivatives will start on National Stock Exchange
from Aug 29, said NSE.
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All those holding HDIL till 20 august will get bonus. Those who brought today are not entitle for any bonus share.

(Bonus Shares will be provided to only who have delivery today as per the T+2 cycle. So, all those who buy today will not be eligible for Bonus.
stox and more)

Please Note...

All those holding HDIL till 20 august will get bonus. Those who brought today are not entitle for any bonus share.

Please Note...

Hyderabad-based infrastructure major Nagarjuna Construction (NCCL) has bagged three orders worth Rs 474 crore. The first order valued at Rs 252 crore has been secured from Engineers India for development of sports facilities and associated infrastructure development work for Commonwealth Games-2010 at North Campus, Delhi University

The project will be completed over a period of 18 months. The second order is from Bangalore Metropolitan Transport Corporation for the construction of Traffic and Transit Management Centre under the Jawaharlal Nehru National Urban Renewal Mission (JNNURM) scheme. It is valued at Rs 114 crore and is expected to be completed within 24 months.

The third order worth Rs 108 crore is from KSRTC civil engineering division Mysore for the development of transport infrastructure facilities
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Hardening of interest rates has given many corporates a chance to improve the performance and prune the liability of retirement funds for their employees. For the first time companies have got a window to pull out and reinvest money which is locked with the government and is earning a sub-market return.

A good part, often as high as 30%, of the superannuation and gratuity funds of corporates is parked as ‘special deposits’ with the government which gives an annual interest of only 8% on the money. Under the arrangement, companies collect the interest amount every January, but cannot withdraw the principal amount for redeploying it in securities which carry a higher return.

The only way the deposit can be withdrawn and reinvested is when the company gives the mandate to an insurance firm to manage the funds. Two recent developments can change the way companies handle these retirement funds. First, insurance firms are promising a guaranteed return for managing the special deposit portion in the funds; second, higher yields in government securities and corporate bonds following successive rate hikes have made it possible for insurance companies to generate higher returns. For instance, returns offered by insurance companies (which have approached several corporates) vary between 9.35% and 9.55% against 8% offered by the government on special deposits.
Significantly, a higher return will also enable corporates to lower their liability. A superannuation fund is created, with the employer contributing a maximum 15% of employees’ basic salary and crediting the interest from investments.
At the time of retirement, employees get one-third of the money, while the balance is used to purchase an annuity for a life-time pension. Gratuity, which unlike superannuation, is payable under law. Here, an employee receives 15 days salary for one completed year of service.

So, for 30 years of service an employee will receive 15 months’ salary based on the last pay drawn. To meet this payout, an employer does an actuarial valuation to calculate the liability. Under this circumstance, if such funds invest more in high-yielding bonds, the employer’s liability will come down.

It may be mentioned that even though a part of the provident fund money is locked in special deposits, current regulations do not allow insurance companies to manage PFs. Thus, under the current circumstances, unlocking of SDs can happen only in superannuation and gratuity funds.

While the special deposit scheme was introduced years ago for a limited period, the maturity date for deposits has been pushed back by the government. While the interest received can be reinvested in a given investment pattern, the government has shown no interest in releasing the corpus.
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What about gas linkage...

Wow.. This is great news for people like us..LOL.. ...

I bought this stock at Rs.496, now its going down. shall i hold or sell?...

I have 20 shares of HDIL. Its not in the multiple of 7. Can any body tell me how the distribution will take place in this case? Thank you!!!...

These people should buy these stocks at any price since the book value of this co is 224 and is back to black....

Reliance Capital is a buy at CMP and surely a very good buy on dips at all levels, will definetely be moving northwards any time.FFIs a just not participating but are very carefully have a watch on the Indian Markets, mind it that currently they are not in a good to pump any fresh investment but have very selectively take money out, though very little from the Indian Markets and will return very soon in a big way....

immediate target would be 140+. best buy at current levels -somu...