RIL's $2 bn share buyback opening on 01 Feb 2012

Reliance Industries climbed more than two percent on Tuesday ahead of the opening of its $2 billion share buyback -- the largest ever in the country's capital market history.

The company, whose shares are held by one out of every four Indian investors, plans to spend up to 104 billion rupees ($2 billion) to buy back its shares in a bid to bolster its sagging performance.

Reliance's 2012 buyback will begin on Wednesday and close January 19 next year, the company said in a statement Monday. This is Reliance's second buyback since December 2004.

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India is hopeful $100 bn foreign investment in nuclear power sector

India is hopeful of getting more than $100 billion worth of foreign investment in the nuclear power sector in the next two decades and a quarter of it would come from France, Commerce and Industry Minister Anand Sharma has said.

"In the coming two decades, India will see investments in excess of $100 billion in the nuclear power sector alone and I am sure that at least a quarter of these will come from France," Sharma said, addressing the fourth India-France CEOs Forum here Monday.

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ICICI Bank Q3 at Rs 1728 crore

ICICI Bank Net profit rose to Rs 1728 crore ($347.4 million) from Rs 1437 crore a year earlier, while net interest income increased 17 per cent to Rs 2710 crore.

During the reporting period, the bank's total income climbed to Rs 10,483.73 crore from Rs 8,444.75 crore, it said in a filing to the BSE. Operating profit stood at Rs 2,687.10 crore as against Rs 2,342.61 crore, it said.Its total provisions declined to Rs 341.10 crore from Rs 464.27 crore, the bank said.

The net non-performing asset ratio decreased to 0.70 percent from 1.16 per cent 12 months back, it said.Total capital adequacy stood at 18.88 per cent of which the core tier-I constituted 13.13 per cent.

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 Stock Trading Tips for 1 Feb 2012

Scrip	Trigger	Price	Stop Loss	Target 1
FEDERALBNK	BUY ABOVE	402	399	412
	SELL BELOW	394	398	384
NTPC	BUY ABOVE	174	172	178
	SELL BELOW	170	172	166

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CBI arrests Andhra Pradesh senior IAS officer & home secretary

The CBI on Monday arrested senior IAS officer and Andhra Pradesh principal home secretary B P Acharya in a case relating to alleged irregularities in land transfer and sale of villas and apartments in a township in the state.

The township has been jointly developed by state-run Andhra Pradesh Industrial Infrastructure Corporation (APIIC) and Dubai-based infrastructure firm Emaar.

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India is considering settling payment for oil imports from Iran in rupees

India is considering settling payment for oil imports from Iran in rupees, the Reserve Bank of India deputy governor H.R. Khan said on Monday.

Khan said New Delhi was evaluating different options to settle payment for oil imports from Iran, India's second biggest oil supplier.

"There are different options which are being evaluated. It is a bilateral issue. It cannot be discussed openly," Khan said.Earlier this month Reuters reported that India and Iran have agreed to settle some of their $12 billion annual oil trade in rupees, citing a government source, resorting to the restricted currency after more than a year of payment problems in the face of fresh, tougher U.S. sanctions.

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Stock Trading Tips for 31 Jan 2012

 Stock Trading Tips for 31 Jan 2012

Scrip	Trigger	Price	Stop Loss	Target 1
AJANTPHARM	BUY ABOVE	346	343	355
	SELL BELOW	339	342	331
RANBAXY	BUY ABOVE	448	444	460
	SELL BELOW	439	443	428

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Stock Trading Tips for 30 Jan 2012

 Stock Trading Tips for 30 Jan 2012

Scrip	Trigger	Price	Stop Loss	Target 1
JINDALSTEL	BUY ABOVE	534	529	545
	SELL BELOW	524	528	510
PATNI	BUY ABOVE	471	466	481
	SELL BELOW	461	465	450

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The government is looking to garner an additional Rs 7,000 crore by PSU companies

Hard-pressed for funds, the government is looking to garner an additional Rs 7,000 crore by persuading state-owned companies to increase their dividend payout for FY12, taking the total collection in the current fiscal to over Rs 30,000 crore.

In addition, the government expects to rake in Rs 1,500 crore through Dividend Distribution Tax (DDT) in the current financial year."(We are) looking at garnering Rs 7,000 crore higher dividend payment by PSU companies and Rs 1,500 crore as dividend tax distribution tax (DDT)", a senior Finance Ministry official said here.

Senior officials of the Finance Ministry led by Secretary of Economic Affairs (DEA) R Gopalan have held a series of consultations with the heads of state-owned enterprises, including PSU banks, to persuade them to raise the dividend payout to the government.

During 2010-11, the government collected Rs 25,978 crore as dividend from public sector enterprises. The target for the current financial year was pegged at Rs 23,495 crore.

The government has been facing financial problems on account of its rising subsidy bill and poor receipt from disinvestment and the fiscal deficit for 2011-12 is expected to exceed the budget target of 4.6 per cent of the Gross Domestic Product (GDP).

Disinvestment in PSUs has yielded only about Rs 1,145 crore this year through the sale of equity in Power Finance Corporation (PFC), against the target of Rs 40,000 crore for 2011-12.

Finance Minister Pranab Mukherjee has informed Parliament that the subsidy bill for FY12 is likely to exceed the Budget estimate by Rs 1 lakh crore.

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Stock Trading Tips for 27 Jan 2012

 Stock Trading Tips for 27 Jan 2012

Scrip	Trigger	Price	Stop Loss	Target 1
ABAN	BUY ABOVE	445	441	456
	SELL BELOW	436	440	424
LICHSGFIN	BUY ABOVE	261	258	267
	SELL BELOW	255	258	249

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