Archive for the ‘Budget 2008-2009’ Category
KR Choksey Union Budget 2008-2009 Budget Report
Click here to download KR Choksey Union Budget 2008-2009 Report.
Below is the testimonial from KR Choksey Network partner on the budget speech given by Mr.Deven Choksey in Baroda. You can download the entire budget report by Clicking Here
To,
Dear Deven Sir,
Myself Rushang Y Desai From Shreedhar & Desai Investment(Your NP from Surat). The budget speech which you delivered on Saturday was excellent. The presentation was very clear , precise and to the point. I want to Congrulate you and hope to hear more and more your speech. I myself is chartered accountant and has gone in-depth training in Technical Analysis at master level. But I use to study the market in both ways :- fundamental view as well as Technical view.
At last we wish to hear your excellent speech again and again in future.
With regards,
Rushang Desai,
Shreedhar & Desai Investment
Union Budget 2008-2009, Sector Stock Picks - A 65 Pages K R Choksey Report
Click here to download the complete 65 Pages K R Choksey report on Union Budget 2008-2009 and K R Choksey’s top stock picks/ Stock recommendations in each sector.
A must download for investors
Kisan Ratilal Choksey Shares and Securities Pvt. Ltd.
1102, Stock Exchange Tower, Dalal Street, Mumbai 400
001. Phone : 91-22-56338050 Fax : 5633 8060
Members: BSE & NSE
www.krchoksey.com
K R Choksey is the best broking house / stock broker company in Mumbai and India. For Online share trading Mumbai and India / Online stock trading Mumbai and India log on to www.krchoksey.com
Executive Summary for Union Budget 2008-2009
Union Budget 2008 – 09, No Negative, A Big Positive.
EXECUTIVE SUMMARY
Kisan Ratilal Choksey Shares & Securities Pvt Ltd. 1102 Stock Exchange, Dalal Street, Fort, Mumbai-400001
Tel: 91-22- 66535000 Fax: 91-22-66338060
Date: 29/02/2008
The FM had following challenges before the Union Budget 2008-09
1) Maintain GDP growth rate at 9% and above
2) Control inflation below 5%
3) Manage the Global threat of slowdown and its consequential impact on the Indian economy.
We believe, The Union Budget 2008-09 meets these challenges
FM plans the roadmap to 9% GDP growth
(1) To maintain GDP at 9%, agriculture growth of 4% was important.
a) The FM gives the thrust to agriculture by announcing the loan waiver scheme, amounting to Rs. 60,000 crore.
The farmer is absolved of paying outstanding loans; a feel good factor is created that will encourage farmers to invest in the sector and sustain the growth.
b) PSU banks were in trouble with outstanding loans of farmers that were otherwise Non-Performing Assets (NPA). The Budgetary Support would clean their Balance Sheet of these banks and provide them Rs. 60,000 crore over a period of 3 years. This would infuse sufficient liquidity in the system and accelerate core lending activity of banks in future and coming quarters.
c) An important measure is also taken to encourage Public Private Partnership (PPP) in irrigation by setting up Irrigation and Water Resources Finance Corporation (IWRFC) with initial capital of Rs.100 crore.
(2) Income Tax: FM attempts to boost consumption demand in the economy by increasing the disposable income of the tax payers. The FM had reduced the rates of tax in 1997; he has played with the base this time.
a) Threshold limit for all assesses is increased from Rs. 1.10 lakhs to Rs. 1.50 lakhs, with slabs being charged as- between Rs 1.5 lakhs to Rs. 3 lakhs-10% , Rs. 3 lakhs to Rs 5 lakhs-20% and above Rs 5 lakhs-30%. He has also sweetened the tax proposals for women assesses and senior citizens.
b) The FM has made an attempt to decouple India’s growth story from global slowdown by giving this fiscal stimulus of lower taxes to boost the consumption demand in the economy.
(3) Indirect taxes: 2% across the board reduction in excise will go along way in
a) For controlling the cost of Production & inflation
b) Lower prices would also spur the consumption demand
Increase in Short Term Capital Gains Tax (STCG) to 15% from the current 10% and differential treatment of STT are sentiment dampeners. STT treatment will affect arbitrage players where as STCG increase will not affect long term investors.
STCG increase is probably to encourage long term investment and avoid crash situations of Jan 2008 in future by discouraging investors from day trading.
Conclusion:
Budget has no apparent negatives. It has neither affected infrastructure thrust as it continues lay emphasis on infrastructure growth through policies implemented earlier. The power and road sector get special boost.
View on Markets
In our view, markets are governed by the fundamentals of the economy and companies more than provisions in the budget.
We expect market to consolidate in near term and post-June 2008 market is expected to gradually move up with support of quality stocks. Our view on Sensex EPS for FY09 stands at Rs1040 with 20% growth for the year. That discounts the current Sensex of 17578 by less than 17x.
We recommend to investors to continue their faith in India’s economic growth and stay invested in equities by adding further investments during this period of consolidation which is best explained as low valuations under crisis of confidence and relatively attractive valuations.
For Detailed Budget Report Kindly Log on to www.krchoksey.com it will be released at 11.00 am on 1st March 2008.
Union Budget 2008 – 09
Union Budget 2008-2009 - A Report By Angel Broking
The Indian economy has been in the thick of action in recent years. Robust GDP growth, healthy tax collections,strong savings and investment pattern and fiscal prudence have been the key drivers of India’s economic prosperity in the last few years.
We expect the Finance Minister to continue to support this and make the Policy environment more conducive for
the sustainability of these drivers. Also, the Budget would continue its social agenda and take measures to make
India’s growth more inclusive and balanced. We expect Agriculture, Rural Development, Employment generation,
Education, Public Health Services and Infrastructure improvement to be at the top of the FM’s priority list. While
some tinkering with tax proposals cannot be ruled out so that the effective tax burden is lowered considering that
Elections are due in 2009, we expect the FM to keep a close eye on the fiscal position of the country.
However, considering that the FM is expected to play a balancing act in this year’s Budget, we believe that not
much would change post the Budget in terms of the outlook towards India and its policies and expect the global
focus on India to continue in the medium-to-long term.
Click here to read the complete Union Budget 2008-2009 A Report By Angel Broking.
For more information about this report, stock market investment advice or for online share trading in India inquiry kindly contact sales@angeltrade.com / 022 – 40003630 or logon to www.angeltrade.com/
Stock Market News With Views For 2008
STOCK MARKET NEWS WITH VIEWS FOR 2008
- 3:5 bonus from Reliance Power with an effective Rs269
Impact: Reliance Power will offer three bonus shares to its investors for every five held in an effort to compensate for the fall of its share price after its high decibel, record-breaking initial public offering last month.The bonus shares will not be offered to the promoters Mr Anil Ambani, Chairman of the company, and Reliance Energy (REL) who hold 45 percent stake each in Reliance Power.This contribution and the bonus offer would see Mr Ambani’s stake in Reliance Power diluted by around 5 percentage points to 40 percent, with him relinquishing around Rs5000 crore. The public shareholding will be 15 percent, up from 10 percent currently. The bonus issue will effectively reduce the Reliance Power’s share price by nearly 40 percent to Rs269 for retail investors (who paid Rs 430 a share) and by 37 per cent to Rs 281 for institutional investors.
Investment View: For recommended price level for this scrip, subscribe to our Exclusive Market Outlook from the desk of the Managing Director. - GSK enters Rs50 crore `specialist nutrition` market in UP
Impact: GlaxoSmithKline Consumer Healthcare entered the Rs50 crore ‘specialist nutrition’market in Uttar Pradesh with the launch of its protein supplement product ‘Actibase’. Supporting about 10-15 percent of the total Rs500 crore market of the country, Uttar Pradesh seems to be the largest protein supplement consumer market.
Investment View: For recommended price level for this scrip,subscribe to our Exclusive Market Outlook from the desk of the Managing Director. - Shipping Corporation board declares 45% interim Impact: Shipping Corporation of India Ltd (SCI) has informed that the board at its meeting held on February 22 has resolved to pay the shareholders an interim dividend of Rs 4.5 per share i.e. 45% on the equity capital for the year ended on March 31, 2008.
Investment View: For recommended price level for this scrip, subscribe to our Exclusive Market Outlook from the desk of the Managing Director. - Rcom Buys Uganda Company Impact: Rcom has acquired a telecom firm in Uganda and were spend Rs2000 crore over the next 5 years in the African country. It bought Uganda based Anupam Global Soft Ltd. Marking the Indian firm’s foray in the international mobile services market. Rcom through the target firm licenses would offer mobile, fixed line, internet, long distance and other services in Uganda.
Investment View: For recommended price level for this scrip, subscribe to our Exclusive Market Outlook from the desk of the Managing Director. - HDFC Bank, Centurion Bank of Punjab share swap ratio 1:29
Impact: HDFC Bank has approved the share swap ratio of 1 share (Rs 10 each) for every 29 shares (Re 1 each) held in Centurion Bank of Punjab. The bank’s board will meet on Feb 28 again on the merger of Centurion Bank of Punjab with HDFC Bank. It would also consider a preferential offer to its promoter, Housing Development finance Corporation, to enable HDFC to maintain its shareholding in the bank
Investment View: For recommended price level for this scrip, subscribe to our Exclusive Market Outlook from the desk of the Managing Director. - Globe Talks: Markets Rise: U.S. stocks gained for a second week, led by energy and financial companies, after oil climbed to a record and investors speculated that bond insurers will keep their credit ratings. European stocks climbed for a second week, led by commodities producers and insurers, as rising metal prices and better-than-expected earnings outweighed concern the U.S. may fall into a recession. Asian stocks rose, led by financial companies, on speculation a plan to help U.S. bond insurers keep their credit ratings will limit further losses related to subprime-mortgage defaults.
Disclaimer:
This publication has been prepared solely for information purpose and does not constitute a solicitation to any person to buy or sell a security. While the information contained therein has been obtained from sources believed to be reliable, investors are advised to satisfy themselves before making any investments. Kisan Ratilal Choksey Shares & Sec Pvt Ltd., does not bear any responsibility for the authentication of the information contained in the reports and consequently, is not liable for any decisions taken based on the same. Further, KRC Research Reports only provide information updates and analysis. All opinion for buying and selling are available to investors when they are registered clients of KRC Investment Advisory Services. As a matter of practice, KRC refrains from publishing any individual names with its reports. As per SEBI requirements it is stated that,Kisan Ratilal Choksey Shares & Sec Pvt Ltd., and/or individuals thereof may have positions in securities referred herein and may make purchases or sale thereof while this report is in circulation.
Kisan Ratilal Choksey Shares and Securities Pvt. Ltd.
1102, Stock Exchange Tower, Dalal Street,
Mumbai 400 001.
Phone : 91-22-56338050 Fax :5633 8060
Members: BSE & NSE
www.krchoksey.com
The article has
no responses yet