Jaiprakash Power Ventures reports loss of Rs. 122.26 crore in Q4

Jaiprakash Power Ventures Ltd has announced the financial results for the quarter & year ended March 31, 2013.

The Company has posted a net loss of Rs. (1222.60) million for the quarter ended March 31, 2013 where as the same was at net loss of Rs. (67.80) million for the quarter ended March 31, 2012. Total Income is Rs. 3849.50 million for the quarter ended March 31, 2013 where as the same was at Rs. 3137.80 million for the quarter ended March 31, 2012.

The Company has posted a net profit after taxes, minority interest and share of profit of associates of Rs. 3291.50 million for the year ended March 31, 2013 where as the same was at Rs. 4029.50 million for the year ended March 31, 2012. Total Income is Rs. 22908.00 million for the year ended March 31, 2013 where as the same was at Rs. 16863.00 million for the year ended March 31, 2012.

The Group has posted consolidated ne

t profit after taxes, minority interest and share of profit / (loss) of associates of Rs. 3512.10 million for the year ended March 31, 2013 where as the same was at Rs. 4007.30 million for the year ended March 31, 2012. Total Income is Rs. 24970.20 million for the year ended March 31, 2013 where as the same was at Rs. 16863.00 million for the year ended March 31, 2012.

The results under review are in respect of 300 MW Jaypee Baspa II H.E. Plant , 400 MW Jaypee Vishnuprayag H.E. Plant, 1000 MW Jaypee Karcham Wangtoo H.E. Plant and Unit 1 of 2 X 250 = 500 MW Jaypee Bina Thermal Power Plant. The Jaypee Bina Thermal Power Plant had commenced commercial operation of its first unit of 250 MW on August 31, 2012, therefore the results of the current quarter / year are not comparable with the figures of corresponding quarter / year of previous year. Previous year's/ period's figures have been regrouped/ reclassified wherever necessary.

Shares of Jaiprakash Power Ventures Ltd was last trading in BSE at Rs.26.40. The stock hit an intraday high of Rs.26.55 and low of Rs.26.05.

The total traded quantity was 1.60 lakhs compared to 2 week average of 2.64 lakhs.

Source: Equity Bulls

INDIA’S BUDGET 2013

             NEW DELHI: Sports utility vehicles, imported cars and motorcycles, high-end mobile phones, eating out at air-conditioned restaurants and cigarettes will become costlier with Finance Minister P Chidambaram deciding to impose higher taxes on these items.

On the other hand, there is good news for ladies as far as jewellery is concerned as they will be allowed to bring more duty free gold items provided they have stayed out of India for more than year.

Moreover, branded apparels will become cheaper as there will be zero excise duty on the item. Carpets and other textile floor coverings of coir or jute will also become less expensive as they have been fully exempted from excise duty.

In his Budget proposals for 2013-14, Finance Minister P Chidambaram said excise duty on Sports Utility Vehicles (SUV) will be raised to 30 per cent from 27 per cent.

"SUVs occupy greater road and parking space and ought to bear a higher tax... However, the increase will not apply to SUVs registered as taxis," Chidambaram said.

Targeting the "affluent class in India that consumes imported luxury goods such as high end motor vehicles, motorcycles, yachts and similar vessels", he said: "I am sure they will not mind paying a little more."

Subsequently, basic customs duty on new passenger cars and other motor vehicles (high-end cars) costing more than USD 40,000 and/or engine capacity exceeding 3,000cc for petrol run vehicles and exceeding 2500 cc for diesel run vehicles has been hiked 100 per cent from 75 per cent earlier.

Likewise, duty on yachts and similar vessels has also been raised to 25 per cent from 10 per cent.

                In a blow to mobile handset makers, excise duty on instruments priced above Rs 2,000 has been raised to six per cent but the concessional excise duty of one per cent and has been kept unchanged in the case of low priced phones.

Smokers will also have to shell out more for their puffs with Chidambaram training his eyes on them for more tax revenues.

"What does a Finance Minister turn to when he requires resources? The answer is cigarettes. I propose to increase the specific excise duty on cigarettes by about 18 per cent. Similar increases are proposed on cigars, cheroots and cigarillos," he said while delivering the Budget speech.

Eating out at air conditioned restaurants will also become more expensive with the Finance Minister bringing it under the purview of service tax. At present, service tax of 12 per cent does not apply to A/C restaurants that do not serve liquor.

"The distinction is artificial, and I propose to levy service tax on all air conditioned restaurants," he said.

Consumer Items	Impact (Positive or Negative)	Budget Measure
Television set-top boxes	Negative	Customs duty on imported set-top boxes increased from 5% to 10%
Mobile Phones worth more Rs 2000	Negative	Increase in excise duty to 6%
Silk & silk products	Negative	Increase in the customs duty on raw silk from 5% to 15%
Cigarettes and tobacco products	Negative	Increase in the specific excise duty on cigarettes to about 18%. Similar increases are proposed on cigars, cheroots and cigarillos.
Branded Non-Allopathic medicines	Positive	An abatement of 35% on the excise duty on MRP based assessment in respect of branded medicaments of Ayurveda, Unani, Siddha, Homeopathy and bio-chemic systems of medicine
Imported Jewellery	Positive	Duty-free limit on imported jewellery raised to Rs 50,000 in the case of a male passenger and Rs 100,000 in the case of a female passenger
Ready-made Garments	Positive	Zero excise duty' for cotton and manmade sector (spun yarn) at the yarn, fabric and garment stages
Eating Out	Negative	Service tax levied on all air conditioned restaurants
Sports Utility Vehicles (except taxis)	Negative	Excise duty on SUVs increased from 27% to 30%
Environment-friendly vehicles	Positive	The period of concession now available for specified parts of electric and hybrid vehicles extended upto fiscal 2015
Imported Luxury Vehicles	Negative	Increase in the customs duty on imported motor vehicles from 75% to 100%; on motorcycles with engine capacity of 800cc or more from 60% to 75%; and on yachts and similar vessels from 10% to 25%
Home Furnishing and Decor	Positive	Handmade carpets and textile floor coverings of coir or jute exempted from excise duty
Housing Construction	Negative	Increase in the excise duty on marble from Rs 30 per sq. mtr to Rs 60 per sq mtr.
High-end Homes	Negative	For buildings having homes and flats with a carpet area of 2,000 sq.ft. or more or of a value of Rs 1 crore or more, reduction in the rate of abatement on the service tax from 75% to 70%.

Special economic zone (SEZ)

A Special Economic Zone (SEZ) is a geographical region that has economic and other laws that are more free-market-oriented than a country's typical or national laws. "Nationwide" laws may be suspended inside a special economic zone.

The category SEZ covers, including free trade zones (FTZ), export processing Zones (EPZ), free Zones (FZ), industrial parks or industrial estates (IE), free ports, free economic zones, urban enterprise zones and others..

Usually the goal of a structure is to increase foreign direct investment by foreign investors, typically an international business or a multinational corporation (MNC), development of infrastructure and to increase the employment.

India was one of the first countries in Asia to recognize the effectiveness of the Export Processing Zone (EPZ) model in promoting exports, with Asia's first EPZ set up in Kandla in 1965. In order to overcome the shortcomings experienced on account of the multiplicity of controls and clearances; absence of world-class infrastructure, and an unstable fiscal regime and with a view to attract larger foreign investments in India, the Special Economic Zones (SEZs) Policy was announced in April 2000.

The SEZ Act, 2005, was an important bill to be passed by the Government of India in order to instill confidence in investors and signal the Government's commitment to a stable SEZ policy regime and with a view to impart stability to the SEZ regime thereby generating greater economic activity and employment through their establishment, a comprehensive draft SEZ Bill prepared after extensive discussions with the stakeholders. A number of meetings were held in various parts of the country both by the Minister for Commerce and Industry as well as senior officials for this purpose. The Special Economic Zones Act, 2005, was passed by Parliament in May, 2005 which received Presidential assent on the 23rd of June, 2005. The draft SEZ Rules were widely discussed and put on the website of the Department of Commerce offering suggestions/comments. Around 800 suggestions were received on the draft rules.

 Exports from Indian SEZ totalled INR 2.2 Trillion in 2009-10 fiscal. It grew by a stupendous 43% to reach INR 3.16 Trillion in 2010-11 fiscal. Indian SEZs have created over 840,000 jobs as of 2010-11. Despite all odds, exports through Indian SEZs grew further by 15.4% to reach INR 3.64 Trillion (roughly US$ 66 billion). As of 2011-12 fiscal, investments worth over US$ 36.5 billion (INR 2.02 Trillion) have been made in these tax-free enclaves. Exports of Indian SEZs have experienced a phenomenal growth of 50.5% for the past eight fiscals from a meager US$ 2.5 billion in 2003-04 to about US$ 65 billion in 2011-12 (accounting for 23% of India's total exports).

Corporate finance

Corporate finance is the area of finance dealing with monetary decisions that business enterprises make and the tools and analysis used to make these decisions. The primary goal of corporate finance is to maximize shareholder value. Although it is in principle different from managerial finance which studies the financial decisions of all firms, rather than corporations alone, the main concepts in the study of corporate finance are applicable to the financial problems of all kinds of firms.

The discipline can be divided into long-term and short-term decisions and techniques. Capital investment decisions are long-term choices about which projects receive investment, whether to finance that investment with equity or debt, and when or whether to pay dividends to shareholders. On the other hand, short term decisions deal with the short-term balance of current assets and current liabilities; the focus here is on managing cash, inventories, and short-term borrowing and lending (such as the terms on credit extended to customers).[citation needed]

The terms corporate finance and corporate financier are also associated with investment banking. The typical role of an investment bank is to evaluate the company's financial needs and raise the appropriate type of capital that best fits those needs. Thus, the terms “corporate finance” and “corporate financier” may be associated with transactions in which capital is raised in order to create, develop, grow or acquire businesses.

Financial market

A financial market is a market in which people and entities can trade financial securities, commodities, and other fungible items of value at low transaction costs and at prices that reflect supply and demand. Securities include stocks and bonds, and commodities include precious metals or agricultural goods.

There are both general markets (where many commodities are traded) and specialized markets (where only one commodity is traded). Markets work by placing many interested buyers and sellers, including households, firms, and government agencies, in one "place", thus making it easier for them to find each other. An economy which relies primarily on interactions between buyers and sellers to allocate resources is known as a market economy in contrast either to a command economy or to a non-market economy such as a gift economy.

 In finance, financial markets facilitate:
•    The raising of capital (in the capital markets)
•    The transfer of risk (in the derivatives markets)
•    Price discovery
•    Global transactions with integration of financial markets
•    The transfer of liquidity (in the money markets)
•    International trade (in the currency markets)
– and are used to match those who want capital to those who have it.
Typically a borrower issues a receipt to the lender promising to pay back the capital. These receipts are securities which may be freely bought or sold. In return for lending money to the borrower, the lender will expect some compensation in the form of interest or dividends. This return on investment is a necessary part of markets to ensure that funds are supplied to them.