Friday, December 23, 2011

Muthoot Finance's Rs 600 cr NCD issue kicks off tomorrow

Gold finance company Muthoot FinanceLimited today said it will raise up to Rs 600 crore through a public issue of Non-Convertible Debentures that kicks off tomorrow. 

The public issue of secured, redeemable NCDs will open tomorrow with four investment options and closes on January 7, 2012. 

"The company will utilise the funds raised through the issue for various financial activities, which include investments and lending," Muthoot Finance Chief General Manager K R Bijimon said here today. 

He said the company also plans to expand its operations in the state and increase its branches from the existing 97 branches.

NHAI to launch Rs 5,000 cr tax-free bonds issue on December 28

Amid volatile capital markets, theNational Highways Authority of India today announced the launch of its first ever tax-free bonds issue of Rs 5,000 crore on December 28. 


The bonds having a face value of Rs 1,000, will have two maturity periods of 10 years and 15 years and would get listed on the BSE and the National Stock Exchange

The 10 years bond will give 8.2 per cent interest per annum, while the 15 years bond of NHAI would offer 8.3 per cent interest. 

We have kept three categories for taking advantage of these tax-free bonds. Of this, 30 per cent subscription has been kept for retail investors who can invest up to Rs 5 lakh," Road Transport MinisterC P Joshi said, while launching the issue.

Another 30 per cent subscription of the issue has been kept for the high net-worth individuals (HNIs), who can invest over and above Rs 5 lakh, while rest 40 per cent has been kept for institutional investors, he added.

Expressing hope that the bonds issue would get good response, Joshi said that about 21,900 km of roads will be awarded by the NHAI in the next three financial years.

The minister further said that the peak cumulative outstanding debt of NHAI is expected to be Rs 57,000 crore in 2016-17 as per the revised financial projections for the implementation of National Highways Development Programme (NHDP).

The proposed tax free bonds of Rs 10,000 crore will be one part of the market borrowings, he said, while adding that the money raised from it will be used to partly finance various NHDP projects and other government schemes.

In this year's Budget, the government had allowed NHAI to raise Rs 10,000 crore from the tax-free bonds, an instrument never used by it earlier. Till now, it used to raise funds through issue of 54EC bonds, under which subscribers can claim exemption of capital gains tax.

Citing the provisions of Income Tax rules, the NHAI prospectus for the issue has, however, clarified that only the interest earned on the new bonds will be tax-free, not the actual investments.

The prospectus further says that the bonds issue will worsen NHAI's debt to capital ratio from 0.11 to 0.29 if it raises Rs 10,000 crore from the markets.

The debt to capital ratio reflects the financing strengths of a firm; higher the ratio, the more debt company has compared to its equity.

As on June 30, 2011, the NHAI's total debt (including secured loans) stood at Rs 6,636.21 crore, the prospectus said.

Thanjavur Palace


About Thanjavur Palace

The rice bowl of Tamil Nadu, Tanjavur is a bustling country town situated 55 kms east of Trichy. Tanjore, also known as Thanjavur, was the ancient capital of the Chola kings and later of the Tanjavur Nayaka and Maratha rulers. Tanjavur rose to glory, during the later Chola reign, between the 10th and 14th centuries, and became a centre of learning and culture. The Cholas, who were great patrons of art, built most of the 93 temples. It was the practice of the kings to donate part of their wealth to the temples, for spiritual gain, and the Chola kings lavished their wealth to build these as well as other temples nearby. Tanjore's crowning glory is the Brihadishwara temple built by Raja Raja. This is listed as a World Heritage site and is worth a visit. 

Near the temple are huge masonry structure which were partly built by the Nayaks in 1550 and partly by the Marathas. The Tanjavur Palace, as it is Known, has huge halls, spacious corridors, observation & arsenal towers and a shady courtyard. Though many sections of the palace are in ruins restoration work has been taken up. The palace houses a library, a museum and an art gallery. The Royal museum displays many items from the kings who ruled the place in past. The eclectic collection of royal memorabilia can fascinate any visitor. The Royal cloths, hunting weapons, the head gears and many more such items are enough to catch the attention of any one. There are two Durbar halls where the rulers held public meetings. Though they have not been renovated, they are in good shape. The Nayak hall of the palace is occupied by the Art Gallery. This gallery has an excellent collection of artifacts from the Chola dynasty during the 8th and 9th century. The bronze and granite statues reflect the height of craftsmanship obtained during those days. The bell tower which was put under restoration work, has emerged very different from the rest of the structure after renovation. But it is worth going up the tower to have a good view of the surrounding area. Next to the art gallery is the Saraswathi Mahal Library with an amazing collection of manuscripts on palm leaves and paper. The library is not open for the public. But one can always go in the museum to have a look at the full Ramayana written on Palm leaf or a set of explicit prints of prisoners under Chinese torture. 

Access

Thanjavur is easily accessible from other cities of India. In terms of air transport the Tiruchirapalli airport that is 58 kms away from Thanjavur is the nearest. Though Thanjavur is directly connected with Trichy, Madurai, Nagore, and Madras by rail. The excellent road network links Thanjavur with the major towns in Tamil Nadu and the neighboring states of Kerala and Karnataka. At Thanjavur accommodation is easily available. There are several hotels that offer comfort stay for the various travelers to Thanjavur and suit every pocket. Hygienic and delectable food is available at reasonable rates.

thanjavur palace

Royal Palace
The Palace, on the east main street is a series of large and rambling buildings of fine masonry, built partly by the Nayaks around 1550 AD, and partly by the Marathas. The entrance is by way of a large quandrangular courtyard. The encircling walls are pierced by big gateways to the north and east. The courtyard leads to a many-pillared hall. A small inner courtyard gives access to a large one.
On the southern side of the third quadrangle is a vimana like building, 190 feet high with eight storeys and it is the Goodagopuram. This was the palace watch tower and also the armoury of the Thanjavur Kings till 1855 A.D.
The two Durbar Halls of the Nayaks and the Mahrattas and the Raja Sarafoji Saraswathi Mahal Library are the chief sights of the Palace. The Saraswathi Mahal Library has remarkable collection of about 30,433 sanskrit and other vernacular palm leaf manuscripts and 6,426 printed volumes, besides a large number of journals. The library is the effort of the three hundred years of collections by the Nayak and Mahratta kings.
Madamaligai is the tower which rises from the palace roof beyond the Goodagopuram. It has six storeys. It is believed that this was built by Nayak ruler to enable him worship Sri Ranganatha of Srirangam every mid-day. This many storeyed tower was destroyed by lightning and was subsequently repaired and preserved.
The Sangita Mahal or the Music Hall is a miniature of the surviving court of Thirumalai Nayak's.

market 23.12.2011


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This data was last updated on 23/12/2011 15:59:00
BSE
IndexOpenHigh / LowLast ValuePrevious CloseChange (Points)Change (%)52 Week H / LCharts
BSE Sensitive15863.4315911.23
15671.28
15738.7015813.36-74.66-.47% 20664.80
15135.86
Chart
BSE 2001898.191905.90
1877.36
1884.731893.46-8.73-.46% 2557.05
1819.80
Chart
BSE 5005913.485940.59
5856.02
5877.835900.03-22.20-.38% 8038.74
5683.02
Chart
BSE Mid-Cap5181.575235.77
5175.76
5185.195181.573.62.07% 7929.37
5073.25
Chart
BSE Small-Cap5556.585650.14
5556.58
5614.905555.5059.401.07% 9920.58
5460.31
Chart
BSE National8138.398168.83
8043.57
8077.308115.76-38.46-.47% 10761.95
7786.92
Chart
BSE I.T Sector5709.065715.52
5641.83
5675.985680.19-4.21-.07% 6921.41
4638.80
Chart
BSE Metal9618.269725.89
9489.68
9531.629571.60-39.98-.42% 18129.92
9244.22
Chart
BSE Capital Goods Sector8146.348343.13
8109.97
8159.498105.9653.53.66% 15551.53
7806.90
Chart
BSE BankEx9638.499707.48
9481.13
9529.869629.89-100.03-1.04% 13656.63
8947.37
Chart
BSE Public Sector Undertaking6471.426510.54
6400.87
6422.096464.06-41.97-.65% 9562.52
6204.05
Chart
BSE Auto8272.338353.77
8234.95
8281.478262.6218.85.23% 10405.62
7894.04
Chart
BSE Realty1430.441455.30
1416.01
1427.681426.001.68.12% 2894.85
1359.84
Chart
BSE Power1813.711837.90
1807.02
1813.061815.56-2.50-.14% 3024.91
1725.21
Chart
BSE Oil & Gas8050.698074.46
7891.19
7926.158010.58-84.43-1.05% 10792.57
7594.33
Chart
BSE TECk3351.853352.77
3311.32
3327.313339.00-11.69-.35% 4072.58
2982.32
Chart
BSE Health Care Sector5876.235913.61
5833.75
5858.375878.80-20.43-.35% 6871.32
5683.12
Chart
BSE Fast Moving Consumer Goods Sector4086.364112.97
4069.24
4088.184084.633.55.09% 4274.17
3171.61
Chart
BSE Consumer Durables Sector5390.005463.57
5298.53
5328.285390.00-61.72-1.15% 7096.91
5062.96
Chart
BSE Dollex600.27602.62
592.19
594.43598.77-4.34-.72% 953.09
571.22
Chart
BSE Dollex 302473.782480.70
2437.68
2447.822465.98-18.16-.74% 3794.25
2343.13
Chart
BSE Dollex 1001599.151604.91
1576.55
1582.941594.71-11.77-.74% 2492.11
1518.77
Chart
This data was last updated on 23/12/2011 16:10:01
NSE
IndexOpenHigh / LowLast ValuePrevious CloseChange (Points)Change (%)52 Week H / LCharts
S&P CNX Nifty4763.204763.45
4693.20
4714.004733.85-19.85-.42% 6181.05
4531.15
Chart
NSE CNX 1004608.654613.30
4542.60
4562.004584.40-22.40-.49% 6080.20
4397.35
Chart
S&P CNX 500 Equity3690.553699.55
3646.90
3660.553674.50-13.95-.38% 4988.25
3535.85
Chart
CNX Midcap6209.356268.25
6168.45
6187.656208.75-21.10-.34% 8978.45
6030.45
Chart
CNX Nifty Junior8543.758614.65
8432.55
8467.458542.50-75.05-.88% 12352.40
8274.50
Chart
S&P CNX IT Sector6105.856106.25
6024.75
6058.606076.55-17.95-.30% 7591.90
5011.10
Chart
CNX Bank8406.208451.95
8253.45
8296.458384.65-88.20-1.05% 11978.05
7766.35
Chart
Nifty Midcap 501810.051813.60
1778.10
1785.001796.00-11.00-.61% 2977.30
1722.45
Chart
S&P CNX Defty3134.753134.75
3081.10
3094.903114.75-19.85-.64% 4795.65
2959.85
Chart