Here are the highlights:

* Net market borrowing for 2011-12 seen at Rs 3.43 trillion.

* Revised gross market borrowing for 2010-11 at Rs 4.47 trillion

FISCAL DEFICIT

* Fiscal deficit seen at 5.1 percent of GDP in 2010-11

* Fiscal deficit seen at 4.6 percent of GDP in 2011-12
* Fiscal deficit seen at 3.5 percent of GDP in 2013-14

SPENDING

* Total expenditure in 2011-12 seen at 12.58 trillion rupees

* Plan expenditure seen at Rs 4.41 trillion in 2011-12, up 18.3 percent

REVENUE

* Gross tax receipts seen at Rs 9.32 trillion in 2011-12

* Corporate tax receipts seen at Rs 3.6 trillion in 2011-12

* Tax-to-GDP ratio seen at 10.4 percent in 2011-12; seen at 10.8 percent in 2012-13

* Customs revenue seen at Rs 1.52 trillion in 2011-12

* Factory gate duties seen at Rs 1.64 trillion in 2011-12

* Non-tax revenue seen at Rs 1.25 trillion in 2011-12

* Service tax receipts seen at Rs 82,000 crore in 2011-12

* Telecom fees, auction of broadband spectrum to raise Es 296.5 billion in 2011-12

SUBSIDIES

* Subsidy bill in 2011-12 seen at Rs 1.44 trillion

* Food subsidy bill in 2011-12 seen at Rs 605.7 billion

* Revised food subsidy bill for 2010-11 at Rs 606 billion

* Fertiliser subsidy bill in 2011-12 seen at Rs 500 billion

* Revised fertiliser subsidy bill for 2010-11 at Rs 550 billion

* Petroleum subsidy bill in 2011-12 seen at Rs 236.4 billion

* Revised petroleum subsidy bill in 2010-11 at Rs 384 billion

* State-run oil retailers to be provided with Rs 200 billion cash subsidy in 2011-12

GROWTH, INFLATION EXPECTATIONS

* Inflation seen at 5 percent in 2011-12

* Economy expected to grow at 9 percent in 2012, plus or minus 0.25 percent

TAXES

* Standard rate of excise duty held at 10 percent

* Service tax rate held at 10 percent

* Scope of service tax to be widened

* Minimum alternate tax raised to 18.5 percent from 18 percent

* Iron ore export duty raised to 20 percent

* Personal income tax exemption limit raised to Rs 180,000

* Surcharge on domestic companies raised to 5 percent

DISINVESTMENT

* Disinvestment in 2011-12 seen at Rs 400 billion

Source:- Economic Times

Polyvinyl chloride (PVC) manufacturer Sanco Industries plans a public issue of 75 lakh equity shares having a face value of Rs 10 each. It has filed draft red herring prospectus with the market regulator SEBI.

The issue will constitute 55.55% of the post-issue paid-up equity share capital of company.

Sanco Industries is in business of manufacturing of rigid plain PVC electrical conduit pipes & profiles, PVC insulated wire & cables and PVC/PPR plumbing pipe. The products are used in high class indoor and outdoor electrical installations and telecom wiring applications while PVC/PPR plumbing pipe is used in sewage, drainage, cable ducting, bore well and water supply in rural and urban areas.

Company intends to use issue proceeds for expansion of existing manufacturing capacity; setting up manufacturing facilities for copper wire rod and long term working capital requirements. Total estimated fund requirement stands at Rs 33.45 crore.

For the period of six months ended on September 2010, company reported a net profit of Rs 1.7 crore on total income of Rs 26.48 crore. For financial year 2009-10, it had posted net profit of Rs 1.74 crore crore on total income of Rs 36.4 crore.

Source:- Moneycontrol.com

Goodwill Hospital is engaged in running a multi-specialty hospital at Noida under the brand Ojjus Medicare, with a super specialty focus on core areas such as neurology and neuro surgery, cardiology and cardiac surgery and orthopaedics.

The company proposes to spend issue proceeds for setting up of diagnostic centre at Faridabad, establishment of polyclinics and repayment or prepayment of loan. Estimated cost by the company is at Rs 49.28 crore.

For the period of eight months ended on November 2010, the company reported consolidated net profit of Rs 8.28 crore on total income of Rs 29.82 crore. For financial year 2009-10, it had posted net profit of Rs 2.75 crore on total income of Rs 22.91 crore.

Source:- Moneycontrol.com

It has filed draft red herring prospectus (DRHP) with SEBI. The issue will constitute 25% of the post-issue paid-up equity share capital of company.

The company is engaged in manufacturing of distribution transformers, power transformers, furnace transformers and special purpose transformers. It is in the business of manufacturing transformers for more than 30 years.

M and B has grown up its capacity of manufacturing 550 transformers to 5,109 per annum. Its existing annual production capacity in terms of KVA is 75,000 KVA of transformer per month on single shift basis.

It also intends to use issue proceeds for setting up new grid connected 4 MWP solar photovoltaic power plant at Village Gagorni, District Rajghar, Madhya Pradesh. Total estimated cost of the project is Rs 71.36 crore.

For the period of seven months ended on October 2010,  M and B Switchgears reported net profit of Rs 59.25 lakh on total income of Rs 26.59 crore. It has debt of Rs 14.91 on its books for the same period.

For the year ended FY09 and FY10, it had posted a net profit of Rs 40.95 lakh and Rs 92.14 lakh on total income of Rs 26.58 crore and Rs 37.50 crore, respectively.

Promoter will reduce stake in company to 70.69% from 94.26% post issue.

Source:- Moneycontrol.com

The issue will constitute 25% of the post-Issue paid-up capital of the company.

The proposed IPO is being made through a 100% book building process wherein not more than 50% of the issue shall be allocated on a proportionate basis to qualified institutional buyers (QIB) bidders. Provided that the company may allocate up to 30% of the QIB portion to anchor investors on a discretionary basis out of which one-third shall be reserved for domestic mutual funds.

Further, 5% of the QIB portion (excluding the anchor investor portion) shall be available for allocation on a proportionate basis to mutual funds only, and the remainder of the QIB portion shall be available for allocation on a proportionate basis to all QIB Bidders, including Mutual Funds, subject to valid bids being received at or above the issue price. Further, not less than 15% of the issue shall be available for allocation on a proportionate basis to non-institutional bidders and not less than 35% of the issue shall be available for allocation on a proportionate basis to retail individual bidders, subject to valid Bids being received at or above the issue price.

The equity shares of the company are proposed to be listed on the Bombay Stock Exchange Limited and the National Stock Exchange of India Limited.

The book running lead managers to the Issue are IDFC Capital Limited and Avendus Capital Private Limited.

Tribhovandas Bhimji Zaveri Limited primarily sells gold jewellery & diamond-studded jewellery; additionally also sells other products, including platinum jewellery, jadau jewellery and silverware. It has 14 showrooms in nine cities across five states, which have a total carpet area of approximately 44,000 sq. ft. Its flagship showroom in Zaveri Bazaar, Mumbai, was established in 1864.

Source:- Moneycontrol.com

SEBI said Reliance Infrastructure and Reliance Natural Resources, which has since been merged into Reliance Power, had used money raised through overseas borrowing and foreign bonds to invest in the stock market.

The regulator said its investigations found Ambani’s Reliance Infra and Reliance Natural Resources were “responsible for misrepresenting the nature of investments in ‘yield management certificates/deposits’ and the profits and losses thereof,” in their annual reports for the years ending in March 2007, 2008 and 2009.

The regulator said it had issued “show cause” notices to the companies and the executives in June 2010.

Reliance Infra said in a statement it had voluntarily settled the matter with the regulator, with no admission or denial of guilt. It said its directors had paid the entire settlement fee of 250 million rupees ($5.5 million).

Anil Ambani, one of the formerly feuding billionaire brothers and one of the most influential businessman in India, leads the Anil Dhirubhai Ambani Group conglomerate, some of whose companies are burdened with heavy debt loads.

Ambani’s Reliance Communications, which is India’s second-largest mobile phone carrier, alone had net debt of 291.9 billion rupees ($6.4 billion) at the end of September.

Ambani, ranked as the world’s 36th richest man by Forbes in 2010, failed in efforts last year to raise funds for the telecom company by selling a 26 percent stake and merging its tower arm with a rival.

“I don’t think there will be any financial impact, since they have not been barred from the primary market,” said Neeraj Dewan, director at Quantum Securities, adding there would be a “sentiment setback” on the companies in the short term.

“If they need to raise funds, it should not be a problem, they can raise it from the primary market,” he said.

SEBI said four other directors in Reliance Infrastructure were also barred from stock investments until December.

Source:- in.reuters.com

The price band and the minimum bid lot for the issue will be decided by the company in consultation with the book running lead managers and will be advertised at least one working day prior to the bid/issue opening date.

The company may raise Rs 3,691 crore via FPO at today’s closing price of Rs 647.60 a share. Market capitalisation stands at Rs 58,427.39 crore.

Tata Steel said net sales for the quarter ended December 2010 (Q3FY11) would be flat as compared to Q2FY11. Operating results would decline in Q3 due to rise in raw material prices, the company says.

Source:- Moneycontrol

The deal will allow Dr. Reddy’s to import and market R-Pharm products in India. It will also allow co-development of high technology products and local manufacturing in Russia, the Indian firm said in a statement to the stock exchanges.

Source:-  Moneycontrol

The CEO of SSTL, Vsevolod Rozanov, in an interview with CNBC-TV18 said, “At this stage, we are providing the widest mobile broadband network in the country with approximately 100 cities being covered by mobile broadband across various circles. We plan on increasing the number of cities covered, both in terms of news states coming into the picture and increasing the depth of the coverage in each particular state.”

Source:-  Moneycontrol

The collaboration will enable the two steel companies to cut costs and share raw material linkages, Ispat Industries Executive Director Anil Surekha, who was here for the company’s AGM, told reporters.

Following the transaction, the company will be renamed JSW Ispat Steel Ltd, he said.

Surekha, however, did not clarify what JSW Steel’s stake would be in the company after the transaction.

In a filing to the Bombay Stock Exchange, JSW Steel said: “The company will subscribe to 108.66 crore equity shares of Ispat by way of preferential allotment at a price of Rs 19.85 per piece.”

Nervous investors abandoned the counter following the announcement and the scrip plunged 17.42 per cent to touch an early low of Rs 20.65 on the BSE .

In contrast, JSW Steel closed 2.23 per cent up at Rs 1211.95.

Source:- economictimes