23 December 2012
Grey market premium, IPO, Bond, Dec 23
|
IPO
|
Opening Dt
|
Closing Dt
|
Band
|
Retail Discount
|
Grey Market Premium
|
|
|
|
|
|
|
|
|
Rural Electrification (REC) NCD
|
3-Dec-12
|
10-Dec-12
|
1000
|
0
|
50
|
|
|
|
|
|
|
|
|
CARE
|
7-Dec-12
|
11-Dec-12
|
750
|
0
|
140
|
|
|
|
|
|
|
|
|
PC Jeweller Limited
|
10-Dec-12
|
12-Dec-12
|
135
|
5
|
5
|
|
|
|
|
|
|
|
|
BHARTI INFRATEL LIMITED
|
11-Dec-12
|
14-Dec-12
|
220
|
10
|
Discount
|
|
|
|
|
|
|
|
|
PFC NCD
|
14-Dec-12
|
27-Dec-12
|
1000
|
0
|
20
|
|
|
|
|
|
|
|
|
IIFCL
|
26-Dec-12
|
11-Jan-13
|
1000
|
0
|
60
|
IIFC tax free bond- all the details
| India Infrastructure Finance Company Limited | |
|---|---|
| Symbol | IIFCLTF13 |
| Series | S1- [7.19% * - 10 years] {*Additional Interest of 0.50% p.a. for category IV for the Tranche-I} |
| S2- [7.36% * - 15 years] {*Additional Interest of 0.50% p.a. for category IV for the Tranche-I} | |
| S3- [7.40% * - 20 years] {*Additional Interest of 0.50% p.a. for category IV for the Tranche-I} | |
| Issue Period | 26-Dec-2012 to 11-Jan-2013 |
| Post issue Modification Period | 12-Jan-2013 |
| Issue Size | Rs. 1,500 crores with an option to retain over subscription aggregating up to shelf limit of Rs. 9,215 crores |
| Security Type | Tax Free Secured Redeemable Non Convertible Bonds |
| Price | Rs 1000 |
| Face Value | Rs 1000 |
| Market Lot | 1 NCD |
| Minimum Application Value | 5 NCDs (Rs. 5,000) either taken individually or collectively |
| IPO Grading | ?[ICRA] AAA? by ICRA, 'BWR AAA (Stable)' by Brickwork and ?CARE AAA? by CARE |
| Rating Agency | ICRA Limited, Credit Analysis and Research Limited, India Ratings and Brickwork Rating India Private Limited. |
| IPO Market Timings | 10.00 a.m. to 5.00 p.m. |
| Lead Managers | SBI Capital Markets Limited, A. K. Capital Services Limited, Enam Securities Private Limited, ICICI Securities Limited and Kotak Mahindra Capital Company Limited. |
| Broker/Consortium List | Click Here |
| Special Instruction | Please note that Trading Member(s) of the Exchange who are not empanelled as Syndicate /Sub-syndicate are also eligible to participate in the bidding process |
| No. of Cities with Bidding Centers | 125 |
| Name of the registrar | Karvy Computershare Private Limited |
| Address of the registrar | Plot No. 17 to 24, Vittal Rao Nagar, Madhapur, Hyderabad ? 500 081 |
| Contact person name number and Email id | Mr. M. Murali Krishna Toll Free No.1-800-3454001; Tel: +91 40 4465 5000, iifclbonds@karvy.com |
| Prospectus | Click Here |
| Application Forms | Click Here |
| Branches of Self Certified Syndicate Banks (SCSBs) where syndicate / sub syndicate member to submit ASBA form | Click Here |
| List of Escrow Banks branches where the Application Form shall be deposited by the Trading Members | Click Here |
Week ended December 21, 2012 :: icici direct
Week ended December 21, 2012
Mid -Quarter Monetary Policy Review – December 2012
Birla SunLife AMC
A big positive on the inflation front has been that despite significant quantitative easing by western central banks in the last 3-4
months, commodity prices especially oil prices have remained quite range bound.
We expect WPI inflation to moderate to 6-6.5% range by Mar 2013. This moderation in inflation dynamics over the next few months
should allow RBI to finally and truly start with its rate easing cycle in Jan 2013- Something that the central bank has also hinted
quite strongly that it will focus on 'threats to growth from this point onwards' in its mid-quarter Monetary policy review, December
2012. Given our expectation of headline inflation moderating to 6.5% or below by March 2013, it is highly likely that RBI mar
positively surprise the markets by the depth and timing of its rate cuts, in order to step up its efforts to revive growth from hereon.
Overall we expect 75-100 bps of rate cuts in 2013.
Reliance AMC
Liquidity situation remains far from comfortable. With no CRR cut announced, we do expect RBI to continue with OMOs that will
support yields. Also, December month end government spending may be high as oil subsidy payments may come through. This
may help ease liquidity.
The demand-supply dynamics of bonds remain in favour of demand as we expect another Rs 600 bn of OMOs by RBI as against
some slippage in fiscal deficit and additional borrowing of around Rs 300 bn. RBI states that recent macro data are in line with its
projection and reinforces its intention to start policy easing in 4Q. So, we expect a first Repo rate cut on 29th Jan’13.
Expectation of rate cut as early as next month may keep sentiment positive. Most probably RBI wants to wait and see the
quantum of revision of final WPI inflation next month along with government’s fiscal situation. Till date, government has maintained
that it will achieve fiscal deficit of 5.3% of GDP and there has not been any additional borrowing announcement. By Jan end, we
may have a better idea of fiscal slippage and additional borrowing. Anyway, the good news is that RBI has shifted focus to growth
and policy rate may move south in coming months unless inflation accelerates sharply.
IDFC AMC
In this December 2012 Monetary Policy review while the commitment to ease has explicitly been made by RBI, the actual easing
has been deferred to the next quarter. This makes little practical sense to us, but it is not something that needs to be worried about.
Overall, we reiterate our view of 50 bps of repo rate cuts by March 2013. There is more than an even chance that this gets
delivered in the January policy review itself. The other big take-away from the policy is with respect to liquidity. Liquidity is tight
currently and the RBI commits that liquidity will be managed with a view to supporting growth. This indicates that the central bank
will be quite proactive in infusing liquidity. And yet it has refrained from cutting CRR. This indicates that preference for OMOs will
continue. Indeed, as we have said before, we expect a minimum of INR 60,000 crores of OMOs till 31
st
March (out of which INR
23,200 crores as been done till now). this makes the demand versus supply equation for the government bond curve the most
favorable between now and 31
st
March.
How you are taxed for your work stints abroad :: Business Line
Tax treatment of your earnings hinges on your residential status for the year in which you're leaving India.
You landed your dream job on the first day of campus placements. You worked hard for the company. And, now after a year, that much-awaited stint abroad has arrived.
While you are busy revamping your wardrobe, spare a thought to the new tax environment you will find yourself in. After all, as the adage goes, aren’t taxes and death the only certainties of life?
As a first step towards understanding how you will be taxed, you have to determine your residential status in India.
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