DOCSLIB.ORG

Interesting Times

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Interesting Times Volume 4, Issue 7 10—July—2012 The monthly newsletter from FundsIndia Inside this issue: Interesting times Srikanth Meenakshi Entry loads set 1 to return? - Sri - kanth Meenakshi Greetings from FundsIndia! The month ahead 2 The mutual fund industry in the country is going through some very interesting times. It has - Equity recom- suddenly become the cynosure of all eyes at the highest levels of the government who are, appar- mendations - ently, considering ways to strengthen the industry and put it on a growth trajectory. B.Krishna Kumar No doubt there are several progressive steps that can be taken by the government and SEBI in terms of further advanc- ing the cause of prudent investing through mutual funds. Common application forms, online enrollment, extending tax Consistent Per- 5 breaks to long term investors, introducing pension funds, rationalizing costs and commission structures are some of f ormers - such steps that can, over time, make mutual funds the deserved choice of more and more investors. FundsIndia Re- sea rch What we do not need, however, are regressive steps such as the bringing back of entry loads (in whatever name or shape). In this regard, it is heartening to note that SEBI and prominent AMCs are not willing to accede to such a move. The Road Ahead 7 By the time the next issue of this newsletter comes out, we will know much more about what steps will be taken in reality f or F un ds and we'll probably hold our comments until then. — Dh iren dra K um ar On the FundsIndia front, we are happy to announce that we have, at long last, launched the open ECS mandate for SIPs. That is, if you setup one ECS mandate for every bank account you have in FundsIndia, you can setup any number of SIPs in the future without the need for further paperwork. This will make SIP setups truely paperless and hassle free. Existing account holders can login to their account and go the 'Manage account' screen to generate your open ECS man- date (you will need to specify a per-day limit and the number of years that the mandate will be valid for). Once you send it to us, and we register it, you can setup SIP folios and portfolios to your heart's content without further paper work. All future SIPs in FundsIndia will use this method of mandates. Also, please note that we have done our quarterly update of our prepackaged portfolios. There aren't many changes (and we didn't expect that there would be) since the funds chosen here are done with a long term perspective and picked because of the consistency of their returns. However, please note that we have added two new portfolios to the set - all debt portfolios, one for investments done for less than a year, and one for those that will be for a period of 1-3 years. We see a lot of interest in debt fund selection in our advisory calls, and we thought making our recommendations in the form of pre-packaged portfolios will be a good idea. I welcome you to please take a look. Happy Investing! Disclaimer: Mutual Fund Investments are subject to market risks. Please read all scheme related documents carefully before investing. Volume 4, Issue 7 Page 2 The month ahead - Equity recommendations B.Krishna Kumar The month of June was quite an eventful one for the Indian economy and the Rupee. The economic growth slowed down considerably and the headline inflation does not seem to budge. The Reserve Bank of India decided against lowering policy rates which affected equity market sentiment for a brief while. The Indian Rupee fell to historic lows in relation to the US Dollar. The greenback rallied beyond the Rs.57-mark and has since cooled off a bit in the recent weeks. The market attention would now shift to the progress of the monsoon and the corporate earnings that will start trickling in shortly. Despite the not-so-rosy scenario on the fundamental side, the technical picture portrays bullishness for the equity markets. Our target of 5,250 for the Nifty has been hit and we expect the strength to continue and would not be surprised if the index hits the next target of 5,650. The bullish view would be under threat only if the index falls below the 5,000-mark. As long as the support of 5,000 is intact, we would work on the premise that 5,650 is achievable. The outlook for the Indian Rupee too is also turning positive against the US Dollar. We expect the US Dollar to depreciate further (Rupee would gain) to the next support at Rs.53.50-54 range. This view strengthens the case for a rally in the equity markets. A look at the 10-year bond yield chart indicates that the bond market is factoring in a rate cut in the short-term. The yield has dropped from the high of around 9% to the current levels of 8.2% and the technical indicators suggest further cooling off. Have a look at the daily chart of the Nifty featured below. It is apparent from the chart that the price action is confined to the set of red trendlines. The upper parallel of this trend-channel is likely to be the next hurdle for the Nifty. A breakout past this line would be a sign of strength and it would be reasonable to anticipate a move thereafter to 5,600. Though we are bullish on the Nifty, we advise investors to concentrate on individual stocks that offer compelling opportunities with an acceptable risk- reward metric. This month, we recommend two stocks from the mid- cap space that look good to deliver returns of over 10% from a short-term perspective. Investors may use any price weakness to buy Indian Bank and Crompton Greaves. From the daily chart of Indian Bank featured below, it is evident that the stock has sought support at the cru- cial support zone of Rs.167-170 range. The price action in the past few days suggest that the short-term trend is bullish and a rally to Rs.220 appears likely. Investors may buy Indian Bank with a stop loss at Rs.165, for a target of Rs.220. A breakout past the ini- tial target-cum-resistance level of Rs.220 would lend momentum to the uptrend and we can then expect a move to Rs.240. Disclaimer: Mutual Fund Investments are subject to market risks. Please read all scheme related documents carefully before investing. Volume 4, Issue 7 Page 3 Continued from page 2 . Crompton Greaves has been battered out of shape in the past few years. The sustained deterioration in performance has prompted investors to shun this stock. A cursory glance at the daily chart of the stock indicates that the worst is over. The daily chart indicates that the buyers are active and keen to support the level of Rs.100-110. We expect the recent strength in the stock to continue and a rally to Rs.165 appears likely. Investors may buy the stock with a stop loss at Rs.119, for a target of Rs.153. A move beyond Rs.153 would lend momentum to the up- trend and a further rise to Rs.166 cannot be ruled out. Mr. B.Krishnakumar is the Head of Equity Research at FundsIndia. With extensive experience in tracking the stock market (over 15 years) he has worked with companies such as ’The Hindu , Business Line’ and ’Dow Jones Newswires. He will be contributing to our monthly newsletter with his stock market outlook which shall hold good for a month. Mr.B.Krishnakumar can be reached at [email protected] Disclaimer: Mutual Fund Investments are subject to market risks. Please read all scheme related documents carefully before investing. Volume 4, Issue 7 Page 4 Disclaimer: Mutual Fund Investments are subject to market risks. Please read all scheme related documents carefully before investing. Volume 4, Issue 7 Page 5 Consistent Performers FundsIndia Research In this page, we feature mutual fund schemes in popular categories that have stood the test of time and delivered performance consistently. These schemes have consistently featured in the top quartile of their category in terms of performance over multiple time periods in the past. For equity funds and income funds, we have chosen three, five and seven year time periods for such ranking. For short term and ultra-short term funds, we have chosen shorter time frames. Please note that in some cases, we have pruned the list for length - we have removed institutional schemes and those that have very high initial investment amounts (in the debt side) from this list. This list will be updated every month, although we do not anticipate significant changes on a month-on-month basis. Rankings data for this report has been sourced from Value Research Online. Large Cap Funds 3-Y Return 5-Y Return 7-Y Return Fund Name (%) 3-Y Rank (%) 5-Y Rank (%) 7-Y Rank Average VRO Rating Franklin India Bluechip 10.73 7/64 8.02 3/44 17.69 2/38 7.67% YYYY DSPBR Top 100 Equity Reg 9.7 14/64 8.47 1/44 19.23 1/38 8.93% YYYY SBI Magnum Equity 10.18 10/64 6.84 5/44 17.6 3/38 11.63% YYYY ICICI Prudential Top 100 11.04 6/64 6.5 8/44 16.48 4/38 12.69% YYYY HDFC Index Sensex Plus 9.71 13/64 6.8 6/44 16.14 7/38 17.46% YYYY Large & Mid Cap 3-Y Return 5-Y Return 7-Y Return Fund Name (%) 3-Y Rank (%) 5-Y Rank (%) 7-Y Rank Average VRO Rating UTI Dividend Yield 14.59 5/62 11.77 2/46 17.83 6/29 11.03% YYYYY ICICI Prudential Dynamic 14.26 6/62 8.26 10/46 20.18 1/29 11.62% YYYY HDFC Top 200 10.84 15/62 10.63 4/46 19.67 2/29 13.26% YYYY HDFC Growth 12.99 9/62 8.95 8/46 18.61 3/29 14.08% YYYY Canara Robeco Equity Diversified 14.07 7/62 10.57 5/46 17.67 7/29 15.43% YYYYY Mid & Small Cap 3-Y Return 5-Y Return 7-Y Return Fund Name (%) 3-Y Rank (%) 5-Y Rank (%) 7-Y Rank Average VRO Rating Reliance Equity Opportunities 21.88 4/51 9.73 6/39 19.55 1/23 9.19% YYYY ICICI Prudential Discovery 20.45 8/51 10.98 5/39 18.36 3/23 13.85% YYYYY
Load more

Recommended publications
  • Capital Letter
    CAPITAL LETTER Volume 2 February 7,7, 20102010 IssueIssue 22 Greetings from FundsIndia! FundsIndia Equity Investment Platform! My name is Srikanth; I’m a director at FundsIndia. Thanks for taking the time out to read this February 2010 our monthly news letter. Over the last two issues, we have been teasing you with announcements about FundsIndia’s new equity investment platform. Well, it is now here! We have launched the equity investment platform which allows investors to invest in stocks in the National Stock Exchange. Importantly, it allows in- vestments in ETFs such as Gold and Index ETFs. The platform is built to provide an easy, relatively safe way for investors to get exposed to direct stock market. With an eye to providing investors a less risky way to invest in the stock market, we have consciously restricted margins and shorting in our platform—they both provide risky ways to make and lose money in the market that we are not comfortable offering them to our investors. To use the equity investment platform, our existing customers will need to fill a short form and request to open an equity trading and Demat account with us. As always, account opening is free of cost—even demat fees are waived till the second year! We sent out a brief email to our customers to let them know that we have launched it, and many of you have signed up for it. Thanks! Others—please let us know if you have any questions about this new platform. We are very excited about this, and think it really completes the investment picture for our customers! Happy Investing! Top MF schemes in FundsIndia (for January 2010) Equity schemes Debt Schemes Reliance Regular Savings—Equity Reliance FRF (G) IDFC Premier Equity—A Templeton India ST Income HDFC Top 200 UTI FRF—ST (G) SBI Magnum Contra UTI Mahila Unit scheme Sundaram BNPP Select Midcap Reliance MIP (QD) KYC Compliance made mandatory for all! In a recent circular, the collective bodies of mutual fund companies have decided to make it mandatory for mutual fund investors to be KYC compliant regardless of investment amount.
    [Show full text]
  • Terms and Conditions for the Icici Bank Indian Rupee Travel Card
    TERMS AND CONDITIONS FOR THE ICICI BANK INDIAN RUPEE TRAVEL CARD The following terms and conditions (“Terms and Conditions”) apply to the ICICI Bank Travel Card facility provided by ICICI Bank. For your own benefit and protection you should read these terms and conditions carefully before availing ICICI Bank Indian Rupee Travel Card. These are ICICI Bank’s standard terms and conditions on the basis of which it provides the ICICI Bank Indian Rupee Travel Card. If you do not understand any of the terms or conditions, please contact us for further information. Your use of the ICICI Bank Indian Rupee Travel Card will indicate your acceptance of these terms and conditions. ICICI Bank Indian Rupee Travel Card is issued by ICICI Bank and distributed by ICICI Bank UK PLC to the customers in the United Kingdom (UK). ICICI Bank Limited is incorporated in India and regulated by the Reserve Bank of India (RBI). ICICI Bank UK PLC is a 100% owned subsidiary of ICICI Bank Limited. ICICI Bank UK PLC’s role is solely to distribute the INR Travel Cards to individuals in the UK and assist in facilitating the documentation to initiate the relationship with ICICI Bank. Definitions In these Terms and Conditions, the following words have the meanings set out hereunder, unless the context indicates otherwise. “ICICI Bank Limited”, means ICICI Bank Limited, a company incorporated under the Companies Act. 1956 of India and licensed as a bank under the Banking Regulation Act, 1949 and having its registered office at Landmark, Race Course Circle, Vadodara 390 007, and its corporate office at ICICI Bank Towers, Bandra Kurla Complex, Mumbai 400 051.
    [Show full text]
  • Girish Vasudeva N Koliyote
    AXIS/CO/CS/365/2020-21 9th November 2020 The Chief Manager (Listing & Compliance) The Senior General Manager (Listing) National Stock Exchange of India Limited BSE Limited Exchange Plaza, 5th Floor 1st Floor, New Trading Ring, Rotunda Building Plot No. C/1, “G” Block P. J. Towers, Dalal Street Bandra-Kurla Complex, Fort, Mumbai – 400 001 Bandra (E), Mumbai – 400 051 NSE Code: AXISBANK BSE Code: 532215 Dear Sir(s), SUB: NOTICE OF POSTAL BALLOT Enclosed, please find a copy of Postal Ballot Notice dated 28th October 2020 together with the Explanatory Statement thereto, seeking approval of the Members of the Bank through Postal Ballot, for the following Special/Ordinary Resolutions: 1. Re-appointment of Smt. Ketaki Bhagwati (DIN 07367868) as an Independent Director of the Bank, for her second term of three (3) years with effect from 19th January 2021. 2. Appointment of Smt. Meena Ganesh (DIN: 00528252) as an Independent Director of the Bank, for a period of four (4) years with effect from 1st August 2020. 3. Appointment of Shri Gopalaraman Padmanabhan (DIN: 07130908) as an Independent Director of the Bank, for a period of four (4) years with effect from 28th October 2020. Please note that the Results of Postal Ballot will be declared not later than 48 hours of conclusion of voting through e-voting i.e. on or before 11th December 2020. You are requested to take note of above and arrange to bring it to the notice of all concerned. Thanking You. Yours sincerely, For Axis Bank Limited GIRISH Digitally signed by GIRISH VASUDEVAN VASUDEVA KOLIYOTE Date: 2020.11.09 N KOLIYOTE 15:30:12 +05'30' Girish V.
    [Show full text]
  • Kotak Mahindra Bank Strong Fundamentals, Positive Performance
    Kotak Mahindra Bank Strong fundamentals, Positive performance Powered by the Sharekhan 3R Research Philosophy Banks & Finance Sharekhan code: KOTAKBANK Result Update Update Stock 3R MATRIX + = - Summary Kotak Mahindra Bank (KMB) posted positive results for Q4FY2021, where while the Right Sector (RS) ü core operational performance was largely in-line, asset-quality performance was positive. Right Quality (RQ) ü Asset quality improved as KMB saw sequentially lower GNPA/NNPAs for Q4FY2021 at 3.25%/1.21% in Q4FY2021 as compared to 3.27%/1.24% levels in Q3FY2021 Right Valuation (RV) ü (proforma basis), with a q-o-q decline in SMA-2 accounts. The bank’s management commentary was positive, which is encouraging. KMB is + Positive = Neutral - Negative well capitalised, with low drag from NPAs and strong leadership, which we believe allows the right mix to the bank. What has changed in 3R MATRIX We maintain Buy on the stock with our SOTP-based PT of Rs. 2,130. Old New Kotak Mahindra Bank (KMB) posted positive results for Q4FY2021. The bank’s core operational performance was largely inline. Asset-quality performance enthused for the RS quarter. NII came at Rs. 3,842 crore, up 8% y-o-y and nearly flat on a q-o-q comparison, which was below expectations. PPOP stood at Rs. 3,407 crore, up 25% y-o-y and 17.4% q-o-q, which RQ was mainly helped by strong other income growth as the bank saw fee income to grow to Rs. 1,378 crore for Q4FY2021, up 8.5% y-o-y but up by ~23% q-o-q.
    [Show full text]
  • ICICI Bank Strong Performance, Attractive Franchise
    ICICI Bank Strong performance, attractive franchise Powered by the Sharekhan 3R Research Philosophy Banks & Finance Sharekhan code: ICICIBANK Result Update Update Stock 3R MATRIX + = - Summary Right Sector (RS) ü ICICI Bank posted strong Q4FY2021 results with core operational performance coming higher than expectations, lower-than-expected slippages and sequentially improving Right Quality (RQ) ü asset quality are key positives. GNPA/NNPA ratio improved to 4.96%/1.14% (versus pro forma GNPA/NNPA of 5.42%/1.26% Right Valuation (RV) ü in Q3FY2021) and watchlist book declined; management commentary was positive and indicated strong growth in FY2022E. = - + Positive Neutral Negative The bank is available at 2.4x/2.1x its FY2022E/FY2023E BVPS. The stock has corrected by ~16% from its highs, and we believe valuations are attractive. What has changed in 3R MATRIX We maintain Buy rating on the stock with a revised SOTP-based PT of Rs. 800. Old New ICICI Bank posted strong Q4FY2021 results with core operational performance coming higher than expectations, lower-than-expected slippages, and sequentially improving asset quality RS being key positives. The quarter saw core operating performance above expectations with NII growth at 16.8% y-o-y, led by recovery in loan growth and NIMs improving by 17 bps q-o-q RQ to 3.84%. Strong traction in advances growth was seen with domestic loan growth posting 18% y-o-y growth. Going forward, as the bank looks to build on growth with a focus on a well- RV rated book, pickup in advances, and opex/credit cost will be key support and positives.
    [Show full text]
  • Term Deposit Scheme
    NATIONAL HOUSING BANK (Wholly owned by Reserve Bank of India) NHB SUVRIDDHI (TAX SAVING) TERM DEPOSIT SCHEME Registrar to the Scheme : Collecting Banker : RCMC Share Registry Pvt. Ltd. IDBI Bank Ltd. B – 106, Sector 2, Noida Nodal Branch: CMS KG Marg Uttar Pradesh - 201301 Surya Kiran Building Email Id: [email protected], New Delhi - 110001 Telephone No. 0120-4015852 ( List of Collecting Branches is Fax No. 0120 - 2444346 given in the Application Form) Objectives NHB has been established to achieve, inter alia, the following objectives: a. To promote a sound, healthy, viable and cost effective housing finance system to cater to all segments of the population and to integrate the housing finance system with the overall financial system. b. To promote a network of dedicated housing finance institutions to adequately serve various regions and different income groups. c. To augment resources for the sector and channelise them for housing. d. To make housing credit more affordable. e. To regulate the activities of housing finance companies based on regulatory and supervisory authority derived under the Act. f. To encourage augmentation of supply of buildable land and also building materials for housing and to upgrade the housing stock in the country. g. To encourage public agencies to emerge as facilitators and suppliers of serviced land, for housing. ________________________________________________________________________ Vision NHB ensures a sound and healthy Housing Finance System in India through effective regulation and supervision of housing finance institutions. As a financial institution NHB is known for its commitment, innovation and quality of service offering broad spectrum of financial product to address the needs of the housing sector with motivated employees working in a congenial and participative work environment.
    [Show full text]
  • Declaration on Anti-Money Laundering Compliance
    ANNEXURE - II STANDARD QUESTIONNAIRE / DECLARATION BY AXIS BANK ON AML/CFT/KYC COMPLIANCE NAME OF THE BANK: AXIS BANK LTD. HEAD OFFICE ADDRESS: Axis House, Bombay Dyeing Mills Compound, Pandurang Budhkar Marg, Worli, Mumbai – 400 025. MAIN BUSINESS ACTIVITIES : Retail and Corporate Banking WEBSITE ADDRESS: www.axisbank.com NAME OF REGULATORY The Reserve Bank of India (RBI) AUTHORITY : LICENSE NO & EXPIRY DATE: Current License issued on 02/08/2007 upon change of name from „UTI Bank Ltd‟ to‟ AXIS Bank Ltd‟. License Number: MUM: 76. No expiry date. REPORTING AUTHORITY: Financial Intelligence Unit-India ( FIU-IND ) NAME OF THE ACT ENACTED The Prevention of Money Laundering Act (PMLA), 2002 BY THE COUNTRY TO COMBAT MONEY LAUNDERING & TERRORIST FINANCING: OWNERSHIP/ MANAGEMENT a) Is your bank/ institution publicly owned? Yes Link appended b) Please provide a list of the executive and non-executive directors of the main Board of below * Directors. Link appended c) Please provide the names of major shareholders( i.e. shareholders holding more than 20 below ** % of the shares in the institution ) S Our further AML Measures Declaration N comments. 1 AML POLICY Our bank has in place policies and procedures to combat Money Laundering and Terrorist _ Financing as per guidelines issued by international and domestic regulatory authorities and law designed therein to combat money laundering. The same has been approved by our Board /Senior management. 2 KNOW YOUR a) Our bank has implemented systems for identification of our customers, including Know _ CUSTOMER Your Customer (KYC) documentation, customer information, information about business activities, normal and expected level of transactions and any other relevant information.
    [Show full text]
  • Reserve Bank of India Complaint Mail Id
    Reserve Bank Of India Complaint Mail Id UntuneableHumpiest and and errant luciferous Armando Rickey griddles always her bond wreckage half and hoggeries misallotted acierated his Hereward. and subtract ternately. Melvyn unmans orderly. Form part ii have complaints, reserve bank account, and id for. Pursuant to the notification of each Reserve state of India to rally for a. There are in international, reserve bank of india complaint mail id provided. Please be levied by banks are not getting on purpose of similar procedure for receiving a special event of done! At update time bound opening the accounts, banks should inform their customers in a sloppy manner the requirement of maintaining minimum balance and levying of charges, etc. Can reach you can easily start with you can always try to complaints for both of financial results in. Of India RBI in time matter in exchange of notes and coins and direct common standards of the services provided. Acceptance of individual cheques for transfer credit. Also arranged every month from you can print and id and full banking in accordance with for pin or reserve bank of india complaint mail id card also examine any penal action. Finally they should not come in bank of reserve india complaint with reference. List of Banking Ombudsman Offices in India Bank. Know longer return calls, support this mail id. The Insurance Times Group. Grievance Redressal Officer NHB National Housing Bank. But neither their product information to remain on place a bank of reserve india complaint. Reserve part of India? What is on next step in resolving complaints at reserve bank is.
    [Show full text]
  • Knowledge Page
    Knowledge Page Regulation of Credit Rating Agencies (CRAs) in India rising debt levels of IL&FS, and continued maintaining the rating assigned to IL&FS as AAA, indicating the highest level of creditworthiness. Introduction and Governance Following the default of IL&FS and its subsidiaries, contagion effect was witnessed in the entire NBFC space that led to an impairment in the Credit Rating Agencies (CRAs) assess creditworthiness of organizations demand for such issuers. This led to a sharp plunge in their share prices and rate their credit risk by analyzing their financial performance, level and discounted trade levels of their issuances, calling for heightened and type of debt, lending and borrowing history, ability to repay the debt, stringency in the norms followed by credit rating agencies to assess and the past debts of the entity into consideration. In India, CRAs are creditworthiness of the issuers. regulated as per the SEBI (Credit Rating Agencies) Regulations, 1999 which provide for eligibility criteria for registration of credit rating SEBI regulations on CRA’s | Proposed Changes agencies, monitoring and review of ratings, requirements for a proper rating process, avoidance of conflict of interest and inspection of rating In order to strengthen the regulatory practices governing CRA’s, SEBI has agencies by SEBI, amongst other matters. However, certain other issued the following detailed guidelines: regulatory agencies, such as the Reserve Bank of India (RBI), Insurance Regulatory and Development Authority (IRDA), and Pension Fund • Hike in the minimum net worth threshold for the rating agencies to INR Regulatory and Development Authority (PFRDA) also regulate certain 25 crore from the current level of INR 5 crore.
    [Show full text]
  • Partial List Ex Conference 20
    Artemis Health Institute Bharat Serums & Vaccines Carrier CP Milk & Food Products Discovery FCDO GlaxoSmithkline Henkel India Shelter Finance Corporation Kadtech Infraprojects LSEG MIND NIIT Paytm Money PT Bank BTPN RTI Shyam Spectra Stryker ThoughtWorks ValueMined Technologies Y-Axis Solutions Arth Group Bharti Axa Life Insurance Cars24 CP Plus Dksh FE fundinfo Glenmark Pharmaceuticals Herbalife Nutition IndiaMART Kaivalya Educatiion Foundation LTI MindTickle Nineleaps technology solutions PayU PT. Media Indra Buana Ruby Seven Studios Shyam Spectra STT Global Data Centres Thryve Digital Valuex Technologies Yamaha Motor Arvind Fashions Bhel Caterpillar CP Wholesale DLF Fedex GlobalEdge Here Technologies Indigo Kalpataru Luminous Power Technologies Mindtree Nippon Koei PCCPL PTC Network Rustomjee Sidel Successive Technologies Tierra Agrotech Varroc Engineering Yanbal Asahi India Glass BIC CDK Global CPI DMD ADVOCATES Ferns n Petals GlobalLogic Herman Miller Indmoney Kama Ayurveda Luthra Group MiQ Digital NISA Global PCS Publicis Media S P Setia Siemens Sulzer Pumps Tifc Varuna Group Yanmar TAKE A LOOK AT LIST OF Ashirvad Pipes Bidgely Technologies CEAT Creditas Solutions DP World Ferrero GMR Hero Indofil industries Kanishk Hospital Luxury Personified Mizuho Bank Nissan Peak Infrastructure Management PUMA Group S&P Global Sigma AVIT Infra Services Summit Digitel Infrastructure TIL Vastu Housing Finance Corpora- Yara COMPANIES WHO WILL JOIN Asian paints Bigtree Entertainment Celio Cremica Dr Reddy's Ferring Pharmaceuticals Godrej & Boyce
    [Show full text]
  • Office of the Chief Commissioner of CGST& Central Excise (Chandigarh Zone), Central Revenue Building, Sector 17-C Chandigarh
    / Office of the Chief Commissioner of Department of Excise and Taxation CGST& Central Excise Additional Town hall Building (Chandigarh Zone), Sector-17-C, UT Chandigarh Central Revenue Building, Sector 17-C Chandigarh-160017 Order 03/2017 Dated 20.12.2017 Subject: Division of Taxpayers base between the Central Government and Union Territory of Chandigarh In accordance with the guidelines issued by the GST Council Secretariat vide Circular No. 01/2017, issued vide F. No. 166/Cross Empowerment/GSTC/2017 dated 20.09.2017, with respect to the division of taxpayer base between the Central Government and Union Territory of Chandigarh to ensure single interface under GST, the State Level Committee comprising Ms. Manoranjan Kaur Virk, Chief Commissioner, Central Tax and Central Excise, Chandigarh Zone and Shri Ajit Balaji Joshi, Commissioner, Excise and Taxation Department, UT Chandigarh has hereby decided to assign the taxpayers registered in Union Territory of Chandigarh in the following manner: 1. Taxpayers with turnover above Rs l.S Crores. a) Taxpayers falling under the jurisdiction of the Centre (List of 2166 Taxpayers enclosed as Annexure- 'lA') SI. NO. Trade Name GSTIN 1 BANK OF BARODA 04AAACB1534F1ZE 2 INDIAN OVERSEAS BANK 04AAACI1223J2Z3 ---------- 2166 DASHMESH TRADING COMPANY 04AAAFD7732Q1Z7 b) Taxpayers falling under the jurisdiction of Union Territory of Chandigarh (List of 2162 Taxpayers enclosed as Annexure- 'lB') SI. NO. Trade Name GSTIN 1 IBM INDIA PRIVATE LIMITED 04AAACI4403L1ZW 2 INTERGLOBE AVIATION LIMITED 04AABCI2726B1ZA ---------- 2162 HARJINDER SINGH 04ABXPS8524P1ZK Taxpayers with Turnover less than Rs. 1.5 Crores a) Taxpayers falling under the jurisdiction of the Centre (List of 1629 Taxpayers enclosed as Annexure- '2A') 51.
    [Show full text]
  • RATING RATIONALE 23 November 2020 Darashaw
    RATING RATIONALE 23 November 2020 Darashaw Securities Private Limited Brickwork Ratings assigns ‘BWR A-/Stable‘ rating to the bank loan facilities of Rs. 200 Crs. of Darashaw Securities Private Limited Particulars: Amount (Rs. Facilities** Tenure Rating* Crs.) BWR A-/Stable (Assigned) Fund Based 200.00 Long Term Total 200.00 Rs. Two Hundred Crs. Only/- *Please refer to BWR website www.brickworkratings.com/ for the definition of the ratings ​ ​ ** Details of Bank Loan Facilities/NCD/Bonds/Commercial Paper are provided in Annexure-I&II RATING ACTION / OUTLOOK Brickwork Ratings (BWR) has assigned ‘BWR A-’Stable’ rating to Darashaw Securities Private Limited (DSPL or the company) factoring in the strong support from the parent company Darashaw & Company Private Limited (DCPL), the group’s long track record, experience of the promoters, its stable financial performance and moderate business risk profile. The rating is, however, constrained by the group’s impairment in investments and risk associated with market volatility. The Stable outlook indicates a low likelihood of a rating change over the medium term. BWR believes that DSPL’s business risk profile will be maintained over the medium term. ANALYTICAL APPROACH AND APPLICABLE RATING CRITERIA For arriving at its ratings, BWR has evaluated the risk profile of the Darashaw group on a consolidated basis and applied its rating methodology as detailed in the Rating Criteria below (hyperlinks provided at the end of this rationale). The consolidated financial includes financial performance of Darashaw & Company Private Limited, Darashaw Securities Private Limited and Darashaw & Company (Singapore) Pte Ltd www.brickworkratings.com Page 1 of 8 ​ ​ ​ KEY COVENANTS OF THE INSTRUMENT/FACILITY RATED: NA KEY RATING DRIVERS Credit Strengths: ● Strong support from the parent company, long track record of group: DSPL ​ being 100% owned by parent DCPL (a flagship company of the Darashaw group) gets strong support from the parent in terms of business generation as well as towards financial, operational and managerial support.
    [Show full text]