Fw: Maha Life Gold

 

IEP INSURANCE BROKING SERVICES PVT. LTD.

4F, 4th Floor, Kences Towers, Ramakrishna Street, North Usman Road, T.Nagar, Chennai 600017.

 

Dear Investor,
Greetings from IEP Insurance.

We have great pleasure in introducing  " Maha Life Gold " from Tata AIG Life Insurance – a whole life insurance plan, which is an Ideal Gift to your beloved child.

Benefits :

• Child Life will be covered up to the age of 100, by paying premium for 15 years only.
• Guaranteed Annual Cash Payout @ 5% p.a from 10^th year onwards till 100^th Birthday.
• Non Guaranteed Annual Cash Dividend from 6^th year onwards till 100^th birthday. ( Payout Declared for FY 2010-11 is 2.62%)
• In the event of unfortunate death of the parent during the premium payment term, all the future premium will be waived and the child will receive the Annual Payout every year up to his/her 100^th birth day.
• Tax Benefit U/S 80c & 10(10D) of IT Act 1964.

Individuals aged between 30 days to 60 years can join this plan.

Illustration :

Parent aged 40 takes the policy for his 5 year old child with a Life cover of Rs.10 Lac. The Annual Premium payable is Rs.92,695/- & the Child Life will be covered up to his / her 100^th birth day for Rs.10 Lac.

• From 6^th year onwards the child will start receiving the Non Guaranteed Annual Cash Dividend approximately Rs.40,000/-* 
• From 10^th year onwards the child will start receiving approximately Rs.90,000 ( Guaranteed Rs.50,000 + Non Guaranteed Rs.40,000*)
• The child will receive both the payouts till his/her 100^th birthday (which is totally a Tax Free Income)

In the unfortunate event of parent's death, say after paying premium for five years, all the future premiums  ( 10 X 92,695 = 9,26,950 ) will be waived off & the child will continue to get approximately  Rs.90,000 as Annual Cash Payout till his/her 100^th Birth Day.

*  Annual Cash Dividend is Non Guaranteed & for illustration purposes assumed the same @ 4% p.a.

For more details please contact us. 

    

Regards,

IEP Insurance Broking Services Pvt Ltd., 

 

Fw: Equity Mutual Funds - The best vehicle for wealth creation in the long term

 

Equity Mutual Funds - Best vehicle for wealth creation in the long term
 --------------------------------------------------------------------------------------------------------

Oflate, Equity has become inevitable part of any investment portfolio. In a rising inflationary trend, investors need to invest at least some portion of their savings in equities. Investing in equities directly requires reasonable knowledge, effort, time & enough money. This may not be possible for many retail investors with limited resources.

This leaves, Equity Mutual Funds as the only option for long term wealth creation. Investing systematically (SIP) brings down the risk further as you invest in a rising market and also in a falling market like today.

 

FYI, we are providing you with the details of some of the top performing Diversified Equity Funds.

 

Fund Name	Return for Lumpsum Investment			Return for SIP			Value Research Rating
	3 yrs	5 yrs	Since Inception	3 yrs	5 yrs	Since Inception
Canara Robeco Equity Diversified	15.42	14.54	22.94	17.46	12.86	16.44	*****
DSPBR Equity	12.33	15.37	22.99	14.27	-	10.78	****
Franklin India Prima Plus	10.74	12.64	19.51	13.14	9.56	21.67	****
HDFC Equity	15.59	14.02	21.17	17.40	12.90	23.79	*****
ICICI Pru Dynamic	10.03	12.36	29.05	13.02	9.76	20.35	****
Mirae Asset India Opportunities	16.51	-	12.46	18.66	-	17.38	*****
Reliance Equity Opportunities Fund	18.26	13.03	20.47	22.11	13.96	15.17	*****
UTI Opportunities Fund	17.51	14.36	16.94	18.02	13.94	13.77	*****
1.  Return as a % as on 29.08.2011 2.  Returns for more than one year are annualized 3.  Details Pertains to Growth Option

 

 

For more informations and application forms, kindly contact your nearest branch of Integrated.

 

For list of branches, please visit http://www.iepindia.com/contact.aspx

 

Risk Factors : Mutual Fund investments are subject to market risk. Please read scheme information document carefully before investing.

 

 

Regards,

Integrated Enterprises (India) Ltd.,

Fw: Payment of margins by clients for Derivatives segment

 

Dear Customer,

Sub.: Payment of margins by clients for Derivatives segment

Please note that SEBI vide its circular dated August 10, 2011 has directed Stock Exchanges to levy penalties on trading members for short collection / non-collection of margins from clients in Equity Derivatives and Currency Derivatives segments as below with effect from September 01, 2011. Copy of SEBI Circular is enclosed. 

'a'	Per day penalty as %age of 'a'
(<Rs 1 lakh) And (<10% of applicable margin)	0.5
(> or equal to Rs 1 lakh) Or (> or equal to 10% of applicable margin)	1.0

(where 'a' = Short collection / non-collection of margins per client per segment per day)

Further, penalty @ 5% of the shortfall amount shall be levied in case of short / non-collection of margins for a client for more than 3 consecutive days or for more than 5 days in a month.

All clients registered for F&O and / or Currency derivatives segment are therefore required to ensure to deposit necessary margins in their account with IIFL before placing an order in equity derivatives and / or currency derivatives segment.

Please note that any penalty imposed upon IIFL due to short / non-collection of margin from client, shall be recovered from the respective client due to whom there arises short / non-collection of margin by debiting the client's ledger account

If you require any clarifications or assistance, you may please contact your respective Relationship Manager or write to us at cs@indiainfoline.com or reach our Customer Care Desk at (022) 40071000.

Regards,

Loveena Khatwani
Head, Customer Service
IIFL

 

**[investwise]** The Dow & Gold - The Turns Of The Century

 

"Stimulus does wonders for stock prices…but it no longer works for the economy that sustains them... Eventually, investors are bound to realize that stocks are headed down. Eventually the bear market will resume. And eventually it will come to an end. But when? Our guess is that it will end when...

http://www.stock-investing-software.com/commentary/articles.html?next=17028

Ian

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Fw: Penalty for Insufficient Margin in the Derivatives Segment

 

Dear Customer, Thank you for your continued patronage of our products and services. We write to inform you that pursuant to the SEBI circular no. CIR/DNPD/7/2011 dated August 10, 2011 Exchanges will start levying penalty on Trading Members on short collection of margin or non collection of margin in the derivatives segment (F&O and Currency Derivatives) with effect from September 01, 2011. In pursuance of the above we further wish to inform you that in case any penalty is debited by the Exchange due to insufficient margin in your trading account the same would be passed on /debited to you. We request you to please maintain sufficient margin in your account for all your transactions in derivative segment. Kindly feel free to contact our customer service department at 1800-22-7500 /39707500 or write us at myaccount@sharekhan.com in case of any queries. Alternatively you could also get in touch with your nearest Sharekhan shoppe. Warm regards, Team Sharekhan

Registered Office: Sharekhan Limited, 10th Floor, Beta Building, Lodha iThink Techno Campus, Off. JVLR, Opp. Kanjurmarg Railway Station, Kanjurmarg (East), Mumbai - 400 042, Maharashtra. Tel: 022 - 61150000. Sharekhan Ltd.: SEBI Regn. Nos. BSE Cash-INB011073351; F&O-INF011073351; NSE - INB/INF231073330; CD - INE231073330; MCX Stock Exchange: CD - INE261073330; United Stock Exchange: CD - INE271073350; DP: NSDL-IN-DP-NSDL-233-2003; CDSL-IN-DP-CDSL-271-2004; PMS INP000000662; Mutual Fund: ARN 20669. Commodity trading through Sharekhan Commodities Pvt. Ltd.: MCX-10080; (MCX/TCM/CORP/0425); NCDEX -00132; (NCDEX/TCM/CORP/0142); National Spot Exchange Ltd :12790; for any complaints email at igc@sharekhan.com ; Disclaimer: Client should read the Risk Disclosure Document issued by SEBI & relevant exchanges and Do's & Don'ts by NCDEX, and the T & C on www.sharekhan.com before investing.

Fw: Investor's Eye: Update - Unity Infraprojects; Viewpoint - Deepak Nitrite

 

 

Investor's Eye [August 24, 2011]  Sharekhan www.sharekhan.com

Summary of Content STOCK UPDATE Unity Infraprojects        Cluster: Vulture's Pick Recommendation: Buy Price target: Rs103 Current market price: Rs52 Order inflow picked up in Q1, momentum to continue  Financial performance during the quarter: Unity posted a revenue growth of 10.7% year on year (YoY) to Rs376 crore and maintained its operating profit margin (OPM) at 13% (in line with our estimate). The management expects to maintain the present level of OPM in FY2012. The net profit for the quarter exceeded our estimate and stood at Rs19.6 crore (up 0.4% YoY) on a lower than expected interest cost (due to an improvement in the receivables).  Pick-up in order inflow and healthy L1 status provide revenue visibility: Unity bagged fresh orders worth Rs750 crore in Q1FY2012 as compared to an order intake of Rs412 crore in the corresponding quarter of the previous year. Further, the company is the lowest bidder (L1) for projects worth Rs1,500 crore (which are expected to convert in a month). Hence, we expect the momentum in the order inflow to continue in the coming quarters. Currently, the order book stands at Rs3,478 crore, which is 2x its FY2011 revenues, with an execution period of around two years. The order book of the company is spread across buildings and the water segment. For FY2012 we expect an order inflow of Rs2,671 crore (an increase of 55% compared to that in FY2011) as against the management's guidance of around Rs4,000 crore. Hence, an higher than expected order inflow could lead to a better than expected revenue growth.  Road BOT project to achieve financial closure in a month: The financial closure for two-laning of the Chomu to Mahla via Renewal, Jobner, Rajasthan is expected to take place in a month; the construction work would begin after that. The company is increasing its focus on the build-operate-transfer (BOT) space which could increase its scale of operation.  Maintained revenue growth guidance at 25% for FY2012: Looking at its robust order inflow, healthy L1 status (which shall ensure the momentum in the order inflow is maintained) and improved execution of the ongoing projects the company has maintained its revenue growth guidance at 25% and net profit growth guidance at 10-12%. However, as a conservative view we have factored an 18.4% revenue growth and a 7.9% net profit growth in FY2012.  Real estate projects delayed, stake sale could unlock value: The progress on its real estate projects across geography (Nagpur, Goa, Kolkata) has been delayed due to various clearance issues. The company is also looking to sell stake in a few of its real estate projects which could unlock their value. The Bangalore project is expected to be launched in H2FY2012 and the Kolkata project is expected to come on stream in FY2013. The clearance for the land parcel in case of the Nagpur malls is expected by the end of FY2012. In case of the Goa information technology (IT) Park, the management has maintained a status quo.  Outlook and valuation: An increase in the working capital during FY2010 and FY2011 was a major concern for the company and the management had taken appropriate steps to bring down the same. As a result, the working capital cycle has improved from Q4FY2011 which we believe is a positive for the company. We expect Unity's revenue and net profit to grow at a compounded annual growth rate of 16.7% and 16% respectively over FY2011-13. Further, looking at the current valuation the stock provides a healthy upside to our price target of Rs103 (exclude valuation of the real estate division due to lack of visibility). Hence, we maintain our Buy recommendation on the stock. At the current market price the stock is trading at price-earnings (PE) multiples of 3.8x FY2012 and 3x FY2013 estimated earnings. VIEWPOINT Deepak Nitrite Q1 performance meets expectations  Results highlights Q1 results in line with expectation: Deepak Nitrite Ltd (DNL)'s top line was in line with our expectation in Q1FY2012. Its net sales grew by 6.8% year on year (YoY) to Rs167.8 crore and operating profit margin (OPM) declined by 50 basis points to 7.9% during the quarter. Despite a marginal decline in the operating margin, the profit after tax (PAT) grew by 3.6% to Rs6.1 crore due to lower both interest outgo and effective tax rate.  Revenue growth driven by a mix of volume and realisation growth: The revenue growth was driven by a mix of volume growth (2%) and a higher average realisation due to a change in the product mix. DNL exports the majority of its products to the European markets but is also slowly increasing its market share in the USA and China. In terms of products, the key growth driver for the top line and the organic business segment was the fuel additive business, which grew by 47% to Rs24 crore in Q1FY2012.  Input cost pressure: During the quarter DNL saw an increasing trend in the prices of its raw materials especially in the inorganic business segment. The company uses a mix of crude-based, natural gas-based, caustic soda-based and chlorine-based raw materials whose prices have seen a continuous rising trend. Going ahead, the management believes that the price of caustic soda and the other chemicals whose supply was badly affected due to the tsunami in Japan will return to normal and from Q2FY2012 their supply will be resumed from Japan which will balance the demand-supply gap. So ultimately it will help DNL to maintain the margin of the inorganic business segment, which consumes caustic soda as its main raw material. The anti-dumping duty levied by India on caustic soda from Thailand, Korea and Vietnam is not expected to have any material impact on DNL as the company procures caustic soda from only the local suppliers. Valuation and outlook: Given the aggressive expansion of its manufacturing capacities in the fine and specialty, and inorganic segments, and the introduction of new products using its research and development (R&D) capabilities and state-of-the-art technology, DNL has the potential to grow at a compounded annual growth rate (CAGR) of around 20.7% over the next two years. In terms of valuations, we have revised our valuation after the announcement of the Q1FY2012 results. The stock trades at around 6.3x FY2013 rough estimate, which is below its historic average multiple. The stock is not under our active coverage and we do not have a rating on it.   Click here to read report: Investor's Eye

Regards, The Sharekhan Research Team myaccount@sharekhan.com   www.sharekhan.com to manage your newsletter subscriptions

 

Fw: Investor's Eye: Special - Q1FY2012 Auto earnings review, Q1FY2012 earnings review

 

 

Investor's Eye [August 22, 2011]  Sharekhan www.sharekhan.com

Summary of Content SHAREKHAN SPECIAL Q1FY2012 Auto earnings review         During Q1FY2012, Sharekhan's automobile (auto) universe grew its revenues by 19.8% on a year-on-year (Y-o-Y) basis. The growth leaders in the original equipment manufacturer (OEM) space were Mahindra and Mahindra (M&M) and HeroMoto Corp while bearing companies and Greaves Cotton reported a good double-digit revenue growth.  Poor volumes affected the performance of Maruti Suzuki and Ashok Leyland Ltd (ALL) while Exide Industries (Exide) sprung a negative surprise amongst the auto ancillaries.  Rising costs affected Sharekhan universe's OPM by 67 basis points YoY: All OEMs under the Sharekhan universe except HeroMoto Corp reported a margin decline year on year (YoY). The impact was most severe on M&M due to the high base of the corresponding quarter of the previous year. Amongst the auto ancillaries, FAG Bearings India (FAG), Greaves Cotton and Subros grew their margins on a Y-o-Y basis while Apollo Tyres and Exide disappointed the most with a sharp Y-o-Y decline in their margins.  The overall operating profit grew by 13.9% YoY, at a lower rate than the revenue, hit by a 67-basis-point erosion in the operating profit margin (OPM). Earnings growth moderated but managed to stay in lower double digits: The profit after tax (PAT) for the Sharekhan auto universe managed to grow in lower double digits--lower than the Y-o-Y growth in both the operating profit and the revenue. High depreciation and interest charges affected the earnings growth.  ALL and Apollo Tyres sprung maximum negative surprises. ALL's earnings declined by 29% YoY in spite of a 6.3% Y-o-Y revenue growth. Similarly, Apollo Tyres' earnings grew by just 3.9% YoY in spite of a 55% increase in the revenue growth.  Bajaj Auto amongst the OEMs and FAG amongst the auto ancillary companies stand out in terms of earnings growth. Outlook and valuation: The auto sector is facing aggressive macro headwinds. The crucial festive season also looks vulnerable as the sector would face the lag impact of higher fuel prices and interest rates. We view medium and heavy commercial vehicles (MHCVs) and passenger cars as most vulnerable to these factors while light commercial vehicles (LCVs), two-wheelers and tractors still look promising.  Based on earnings growth and one-year forward valuation, Exide is the most expensive while Suprajit Engineering (Suprajit) and Apollo Tyres are the most attractive. Keeping in view the quality of the earnings and the reasonable valuations, M&M amongst the OEMs and Greaves Cotton amongst the auto ancillary companies are our preferred bets within the Sharekhan universe.   Q1FY2012 earnings review        Key points The earnings growth of the Sensex companies in Q1FY2012 was marginally lower than expected. During the quarter the aggregate adjusted earnings of the Sensex companies grew by 7.5% year on year (YoY) as compared to our expectation of a 9.5% year-on-year (Y-o-Y) growth. This was because of the lower than expected performance of the pharmaceutical (pharma; Cipla), telecommunications (telecom; especially Bharti Airtel) and metal stocks. However, the shortfall in the earnings vis-a-vis our estimate was partly offset by a strong growth in the information technology (IT) services and fast moving consumer goods (FMCG) sectors and other stocks (JP Associates, Maruti Suzuki). Excluding the oil and gas companies, the Sensex' earnings grew at 7% compared to the expectations of an 8.8% growth on a Y-o-Y basis. Excluding State Bank of India (SBI), the Sensex' adjusted earnings grew by 12.4% as compared to the expectation of a 13.7% growth YoY which shows that generally the earnings were only marginally below expectations.  The aggregate net sales growth of 26% was quite strong and higher than our estimate mainly led by a strong growth in Reliance Industries Ltd (RIL) and the real estate sector. The operating profit, however, grew by 13.5% in line with our expectations. The operating profit margin (OPM) for the Sensex companies declined by 249 basis points YoY to 22.6%, resulting in a slower growth in the operating profit. Though the companies have reported a strong growth in the top line, the earnings will continue to be under pressure due to the mounting interest rates and high input cost. The EBITDA margin of the Sensex companies declined by 249 basis points YoY and earnings are further downgraded by 2.5% during the result season. In view of the ongoing global turmoil and the pressure in the domestic economy due to the rising interest rates and high inflation more downgrades cannot be ruled out. Currently, the Sensex trades at close to 14x FY2012 revised earnings which is marginally below 15x its long term median multiple. Click here to read report: Investor's Eye

Regards, The Sharekhan Research Team myaccount@sharekhan.com   www.sharekhan.com to manage your newsletter subscriptions

 

Fw: IPO Update - SRS Limited

 

	IPO - SRS Limited
		Issue Period 23 August 2011 to 26 August 2011 Price Band 58 - 65 Lot Size 100 shares and in multiples of 100 thereafter Issue Size 227.50 crore IPO Rating 3/5 ICRA Issue highlights (source: BRLM/RHP) SRS Limited was incorporated in 2000 with the objective of trading in FMCG goods and it later entered into the other business segments. The company's business portfolio comprises cinema exhibition, food & beverages, retail, and manufacturing & retailing of jewellery. The company has four business verticals categorised as cinema exhibition, food & beverages, retails and cash & carry, and jewellery. The company operates a chain of cinemas spread across six cities cinema exhibition brand. It comprises 11 properties at strategic locations. The food & beverages segment of the company operates a chain of food courts, fine dining restaurants and banquets across several cities. The food courts are run under the SRS 7dayz brand and currently the company operates 11 food courts across north and central India. The company has 23 retail stores in north India that offer FMCG products including food and groceries, apparels, cosmetics/home care/personal care products, crockery, appliances, accessories etc. The company's jewellery product portfolio includes gold coins, necklaces, rings, pendants, bracelets, earrings etc. At present the company has three retail showrooms at Delhi, Faridabad and Palwal, and two wholesale outlets at Chandni Chowk and Karol Bagh, Delhi.
	Sharekhan Ltd.: BSE Cash-INB011073351; F&O-INF011073351; NSE - INB/INF231073330; MAPIN - 100008375; DP: NSDL-IN-DP-NSDL-233-2003; CDSL-IN-DP-CDSL-271-2004; PMS INP000000662. Sharekhan Commodities Pvt. Ltd.: MCX-10080; NCDEX-00132; MAPIN - 100013912, for any complaints email at igc@sharekhan.com. Regd/Admin Add:- Lodha iThink Techno Campus, 10th Floor, Beta Building, Off. JVLR, Opp. Kanjurmarg Station, Kanjurmarg (East), Mumbai 400 042, Maharashtra. Please carefully read the risk disclosure document as prescribed by SEBI & FMC and Do's & Don'ts by NCDEX. Disclaimer: Investments in equity is subject to market risks. You are advised to carefully read the red herring prospectus of the company go through all the Risk Factors mentioned in the offer document issued by the fore investing. The investment as mentioned in the document may not be suitable for all investors. Investors may take their own decisions based on their specific investment objectives and financial position and using such independent advisors, as they believe necessary.