Power Finance कारपोरेशन

Power Finance Corporation to pick 7% stake in PXI State-run Power Finance Corporation has informed that the Board of Directors of the Company at its meeting has given approval to participate in the equity of Power Exchange India Ltd (PXI) up to 7% share capital of PXI not exceeding Rs 1.75 crore. PXI is a company promoted by NSE and National Commodity and Derivatives Exchange (NCDEX), for setting up power exchange to provide electronic, transparent and neutral platform for trading of electricity.

IFC Commits $30M To India Buyout Fund

IFC Commits $30M To India Buyout Fund The International Finance Corp. has committed as much as $30 million to a private equity fund investing in high-growth small- and medium-sized enterprises in India. Avigo SME Fund III, a $300 million, eight-year closed-end fund, is a follow-on offering to Avigo SME Fund II, a $125 million fund managed by Avigo Capital Partners, a private equity group formed in 2004 by Achal Ghai.

YES Bank to add buyout fund to PE portfolio

YES Bank Ltd, a recent entrant into the private equity space in India, is planning to expand its portfolio by launching a buyout fund in the near future. Though the value of the fund has not been decided as yet, the bank plans to launch it in three years’ time. The bank has already announced four sector specific funds in the first phase, in the form of a $300-million cleantech fund, a $500-million infrastructure fund, a Rs 200-crore food and agriculture fund and a $250-million lifesciences fund. Other funds such as a buyout fund, a VC fund and a real estate fund will be launched post-2010.

Too Late to End the Debt Crisis

Too Little, Too Late to End the Debt Crisis. Congress should 1. Disregard data based on the list of troubled banks maintained by the Federal Deposit Insurance Corporation (FDIC). The FDIC’s list currently has 117 institutions with $78 billion in assets. However, based on a broader analysis of recent FDIC call report data, we find that institutions at risk of failure include 1,479 FDIC member banks and 158 thrifts with total assets of $3.2 trillion, or 41 times the assets of banks on the FDIC’s list. 2. Think twice before providing a broad bailout for U.S. debts given the wide diversity of mortgage holders and the great magnitude of the total debts outstanding in the United States. Just-released Federal Reserve Flow of Funds data show that, beyond mortgages, there are another $20.4 trillion in privatesector consumer and corporate debts, plus $2.7 trillion in municipal securities outstanding. 3. Recognize that, among banks and thrifts with $5 billion or more in assets, there are 61 banks and 25 thrifts that are heavily exposed to nonperforming mortgages. 4. Get a better handle on the enormous build-up of derivatives held by U.S. commercial banks. 5. Base any legislation on (a) realistic estimates of the loan amounts already delinquent or in default, and (b) reasonable forecasts of how many more are likely to go bad in a continuing recession. 6. Recognize the inadequacies in already-established safety nets, such as the FDIC for bank depositors, Securities Investor Protection Corporation (SIPC) for brokerage customers, and state guarantee associations for insurance policyholders. There should be no illusion that the $700 billion estimate proposed by the Administration will be enough to end the debt crisis. It could very well be just a drop in the bucket. source:Weiss Research, Inc.

Maestros Mediline Board approves Buy-back of Shares

Announcement: Maestros Mediline Systems Ltd has informed BSE that the Board of Directors of the Company at its meeting held on September 20, 2008, inter alia, has approved the offer of Buy Back of Shares to the extent of 10% of Paid-up Equity Capital and free reserves of the Company. The Buy Back shall be carried out from the open market through the Bombay Stock Exchange at a maximum price of 75/- per share.

ख़बर हे कि ........

* Hindustan Sanitaryware is trading at a multiyear low level. Long-term investors should grab this opportunity to buy and hold for two years for handsome returns. * The share price of transformer companies like Accurate Transformer, Bharat Bijlee, Emco, Diamond Power, IMP Power, Alfa Transformer are hitting new lows. Grab them as they will rebound on the back of massive investments in the power sector. * Gujarat Alkalies has tumbled down to attractive levels. At the current market cap of Rs.900 cr., it is available cheap with a minimal downward risk. * Century Textiles is good for the medium-term given its composite business and massive real estate plans in heart of Mumbai. * Ranbaxy is witnessing a sell off because US FDA has banned some Ranbaxy drugs. The stock is valued high by the promoters and is available below half the acquisition price. A buy for the medium-term. * Oracle Financial Services & Software (formerly I-flex) is one of the very few subsidiaries of Oracle, which is listed. The stock can be considered for investment with a two year perspective. * Elgi Equipments is considered a decent buy with good growth prospects in the core capital goods industry. * Visaka Industries has posted Q1FY09 EPS of Rs.9 and an EPS of Rs.28 for FY09 is expected. The share is poised to touch Rs.100. * Supreme Infrastructure is doing well with Q1FY09 EPS of Rs.7. Company circles expect an EPS of Rs.30 in FY09 and the share can easily touch Rs.100. * With 7% equity stake by Patel Engineering, KNR Constructions is all set to garner an EPS of Rs.18 in FY09 and Rs.26 in FY10. Some analysts recommend the share with a target price of Rs.120 in the long-term. * Mazda Industries is likely to post an EPS of Rs.22 on a small equity of Rs.4.3 cr. The share is heading towards the 3-digit mark. * Hariyana Ship Breaking, which registered Q1EPS of Rs.8, is all set to register an EPS of Rs.18 in FY09. The share may cross the Rs.60 mark.