Diamond Power Infra bags Rs 117 cr Order from Gujarat Urja Vikas Nigam
Diamond Power Infrastructure has bagged an order worth Rs 117 crore from Gujarat Urja Vikas Nigam for the supply of various products taking the aggregating order book to Rs 1,217 crore. The order needs to be completed within the next seven months.
Earlier too, the company had bagged orders worth Rs 96 crore for the supply of transmission conductors.
Diamond Power Infrastructure is India’s largest and only integrated manufacturer of power transmission equipment and turnkey services provider
How is Indian Sovereign Debt Different ?
Unlike the West, most of Indian Government Fiscal Deficit is financed by internal holdings. India is the only one emerging market amongst the high-government deficit countries in 2009 – India. And India, with a gross general government debt to GDP ratio of over 80 percent during 2009 (see IMF(2010)), is much better able to manage a more than 10 percent of GDP general government deficit, Read more
Larsen & Toubro – Strong Performance + Order Book
Larsen & Toubro (L&T) reported strong Q4 numbers marked by a 28% and 17% YoY growth in its revenues and earnings respectively. An order inflow of Rs220.6bn in the Engineering and Construction (E&C) segment was also a key highlight of the quarter. For FY11, L&T has indicated a ~20% revenue growth supported by an order backlog of Rs 1.0tn. Margins, however, are likely to moderate due to higher commodity prices. L&T intends to achieve a robust growth of 25% in order inflows during FY11. It also proposes to unlock Read more
FIIs were net sellers of Rs 1,589.90 cr in cash on Monday
Foreign Institutional Investors (FIIs) were net sellers of Rs 1,589.90 crore (provisional) in the cash segment on Monday, according to the information posted on the SEBI website. While FIIs made gross purchases of Rs 2,856.30 crore, their gross sales amounted to Rs 4,446.20 crore.
As per the data posted on the BSE website, Domestic Institutional Investors (DIIs) were net buyers of Rs 30.25 crore (provisional) on the same day. While DIIs made gross purchases of Rs 1,405.92 crore, their gross sales aggregated Rs 1,375.67 crore. Read more
Inflation Pressure is seen in Smaller Cities
Expect inflation to remain high and sticky through the year as the pressure on core inflation intensifies, even as the winter crop hits the market and eases food prices. Inflationary pressures from non-tradeable items are rising rapidly.
An analysis of the city level data proves that inflationary pressures are widespread across different tiers. In fact inflationary pressures are higher in small cities than in the main metros, indicating a broad-based growth process, and making the case for continued policy action even stronger. Read more
Income Tax India – Salaried, Firms, Partnerships, Professionals?
We obtained Authenticated numbers from the Ministry of Finance / Dept of Revenue on the total number of Income tax Payers in India. We wanted to know the break up under each class and here is the breakup as given by IT Department on all India basis.
How many Salaried / Pensioners / Family pensioners with Interest filed returns for AY 2008-09 ?
The Number of Income Tax Payers / Assesses in India who have income from Salary, or Pension is 60.35 Lakh / 6.035 mn [Filed using ITR 1]
How many Income Tax Assesses are there in India who Read more
IRDA tightens ULIP norms – Implications and Analysis
IRDA tightens ULIP norms and the following changes are effective from July 01, 2010 – Our Analysis on each of the norms follow,
- Minimum policy term of five years – Overall improvement in quality of business, Long-term positive
- All ULIPs (including pension/annuity products in accumulation phase) to carry sum assured – Render long-term protection element to ULIP (and ULIP-based pension and annuity) contracts, differentiating ULIPs from MFs Read more
Diamond Power commences production from compounding unit
Diamond Power Infrastructure, earlier known as Diamond Cables, has commenced production from its state-of-the-art compounding unit having annualised capacity of 18,000 Mt. The said unit can manufacture various types of PVC & XLPE compounds.
The company has invested Rs 8 crore on development of this facility, which will meet 70% of the raw material demand for the power cables. It manufactures about 40,000 km of assorted sizes or high and low tension cables and compounds are very critical cost and quality components for such cables. Read more
SEBI to Rating agencies – Disclose Methodology + Fees Collected
The Indian Rating Agencies – CRISIL, ICRA, Fitch, Care have been asked by the Stock Market Regulator – SEBI to disclose the Rating Methodology and the Fees it collected from the client to assign the rating. This is a major move in our view to achieve transparency in financial transaction and clean up the Financial markets, a mess created by Capitalists’ greed.
SEBI’s DGM Prasanta Mahapatra who was looking into the issue of achieving Transparency in Indian Corporate Rating system after the Collapse of American European Financial System. In his order he said,
6.1 Rating Procedure Read more
Top 10 Frauds in Indian Banking Sector
The Reserve Bank of India – RBI Maintains Data on Frauds on the basis of area of operation under which the frauds have been perpetrated. According to such data pertaining to the calendar year 2009, Top 10 Categories under which Frauds have been reported by banks (number wise and amount wise) are as follows,
Top 10 Categories of Fraud in the Indian Banking Sector [ Based on Number of Complaints]
- Credit Cards
- Deposits – Savings A/C