A SPECIAL PRESENTATION
FOR ICAI – “BARODA BR.”
Emerging Trends in
INDIAN CAPITAL MARKET
C. A. JAGDISH THAKKAR
Past-President
Vadodara Stock Exchange Ltd.
Name the most televised structure in INDIA ?
Is it the RASHTRAPATI BHAWAN?
Or.. is it the INDIAN PARLIAMENT HOUSE?
Or….. is it the TAJMAHAL?
Or…is it the abode of LORD
TIRUPATHI?
NOW! you may be surprised to see the next slide…
It is none of these but….
The PHEROZE JEEJEEBHOY TOWERS… known as
MYSTERY OF “8” YEARS CYCLE
• 1984 – ASSASINATION OF SMT. INDIRA
GANDHI
• 1992 – HARSHAD MEHTA’S SCAM
• 2000 – KETAN PAREKH’S SCAM
• 2008 – US SUB PRIME CRISIS AND
GLOBAL MELTDOWN
STRANGE BUT TRUE !!!
THE MYSTERY OF “26”
• 26TH DECEMBER 2004……. TSUNAMI
• 26TH JANUARY 2001……… EARTHQUAKE AT BHUJ
• 26TH FEBRUARY 2002……. GODHRA KAND
• 26TH JUNE 2007………….. GUJARAT FLOODS
• 26TH JULY 2006………….. MUMBAI TRAIN BLAST
• 26TH SEPTEMBER 2008…….. BLAST AT AHMEDABAD
• 26TH NOVEMBER 2008………MASSACRE AT MUMBAI
• 26TH MAY 2014……MR. NARENDRA MODI BECAME PM
WORST BEAR PHASES
SENSEX
FALL
PERIOD
MONTHS
SEP 94 TO OCT 96
26
-1885 (-41%)
AUG 97 TO OCT 98
14
-1759 (-40%)
FEB 2000 TO SEP 01
18
-3324 (-56%)
JAN 08 TO MAR 09
15
-13046 (-62%)
DEC 010 TO DEC 011
12
-5054
(-24%)
WHO REWARDED HIGHEST IN 2014 ?
ITEM
% RETURN
SENSEX/NIFTY
27%
SILVER
-15%
GOLD
-14%
GROUNDNUT OIL
-16%
CURRENCY FLUCTUATION IN 2013-14
CURRENCY
31-03-2013
31-03-2014
%
REDUCTION
USD
54.29
59.91
-10.30%
EURO
69.49
82.27
-18.40%
POUND
82.12
99.56
-21.20%
J.YEN
57.63
58.54
-1.60%
All throughout Rupee has disappointed every
sector and contributed to inflation.
STOCK MARKET INDICES 2013-14
INDEX
31-03-2013 31-03-2014 INCREASE
%
INCREASE
SENSEX
18,836
22,386
+3,550
+18.80%
NIFTY
5,683
6,704
+1,021
+18.0%
CAP. GOODS
9,018
12,011
+2,993
+33.20%
AUTO
MOBILE
9,994
13,280
+3,286
+32.90%
INF. TECH.
6,885
8,789
+1,904
+25.90%
HEALTH
CARE
8,008
10,084
+2,076
+25.90%
TEXTILE
3,901
4,905
+1,004
+25.70%
However PSU Index was down 1.9%; Consumer
Durables -8% & Reality was down 17.50%.
COMMODITY MARKET
INDICES - 2013-14
COMMODITY
31-03-2013
31-03-2014
INCREASE
%
INCREASE
GOLD
Rs. 29,950
Rs. 29,200
Rs.-750
-2.50%
SILVER
Rs.53,100
Rs. 43,200
Rs.-9,900
-19.0%
GRNDNUT OIL
Rs.2,090
Rs.1,340
Rs. -750
-36.00%
CTNSEED OIL
Rs.1,130
Rs. 1,160
Rs. +30
+2.60%
SUGAR
Rs. 3,400
Rs.3,200
Rs. -200
-6.00%
WHEAT
Rs. 330
Rs. 350
Rs. +20
+6.00%
BRENT CRUDE
$109
$101
$-8.00
-7.30%
MOST REWARDING
SHARES OF 2013-14
COMPANY
28-03-2013
31-03-2014
%
INCREASE
PARAG SHILP
Rs. 16.33
Rs. 551.70
3278%
DHANLILA INV
Rs. 6.85
Rs. 201.25
2838%
PEARL AGRO
Rs.12.75
Rs. 368
2786%
KELVIN FIN
Rs. 25.93
Rs. 485
1771%
SURBHI CHEM
Rs. 5.19
Rs. 81.00
1462%
ECO FRN
FOOD
Rs. 37.60
Rs. 580
1443%
KAPPAK
PHARMA
Rs. 56.45
Rs. 685
1113%
WORST PERFORMING SHARES OF
2013-14 FROM HERO TO ZERO
COMPANY
28-03-2013
31-03-2014
%
INCREASE
GITANJALI
GEMS
Rs. 589.25
Rs. 59.05
-90%
ITDC
Rs. 615.00
Rs. 96.50
-84.30%
NCL RESRCH
Rs.1,498.00
Rs. 304.00
-80%
WOLKHART
Rs. 2,006.00
Rs. 457.00
-77%
HANUG TOYS
Rs. 102.15
Rs. 24.55
-76%
PLETHICO
PHARMA
Rs. 164.70
Rs. 39.95
-75.7%
MMTC
Rs. 199.25
Rs. 53.10
-73.4%
BEST PERFORMING GUJARAT
COMPANIES OF 2013-14 (TILL 3/12/14
COMPANY
28-03-2013
03-12-2014
INCREASE
ALEMBIC
PHARMA
Rs. 111.00
Rs. 454.00
Rs. 343.00
ASTRAL POLY
Rs. 153.00
Rs. 409.00
Rs. 256.00
ATUL AUTO
Rs.168.00
Rs. 618.00
Rs. 450.00
ARVIND MILLS
Rs. 79.00
Rs. 286.00
Rs.207.00
CADILA
HEALTH
Rs. 738
Rs. 1645.00
Rs. 907.00
SYMPHONY
Rs. 370.00
Rs. 1892.00 Rs. 1522.00
AIA ENGG.
Rs. 317.00
Rs. 1187.00
Rs. 870.00
PM Modi's 5 significant
announcements on 15th-Aug-14
1) Replacing Plan Panel- The Planning Commission
will be replaced by a new think-tank.
2) ‘Make in India’- Focus on manufacturing to
minimize imports while turning India into an
exporting powerhouse.
3) Jan Dhan Scheme- Banking accounts for everyone
(with Rs 1-lakh insurance).
4) Model Village Scheme- Members of both RajyaSabha and Lok-Sabha asked to adopt a village a
year.
5) Swachh Bharat plan- Clean India program rollout in
October; Corporate Companies & MPs urged to help build
separate toilets for girls in schools across the country.
ARE WE REALLY CHEAP?
SECTORS TO WATCH
One year Forward P/E of Sensex is just about 15% which
was 24% in 2007.
China, Brazil and Mexico are still cheaper than India
making India little less attractive.
However Earning Valuations of Indian Market is better
than other Emerging Markets after NDA took over.
From 1st Jan 2014 India has rewarded 27% while
Indonesia has rewarded 18% in USD terms.
Sectors to Watch: Technology; Pharmaceuticals;
Banking: Infrastructure as RBI kept all rates unchanged.
GLOBAL FACTORS
THAT WOULD AFFECT STOCK MARKET
Ukraine crisis may worsen further causing
geopolitical imbalance.
Weak Chinese P M I data month after month shall
suppress metal prices world over.
Intellectual Property Right dispute with USA may
aggravate.
Recent decision of Fed. to reduce QE 3 to 15bn.
Per month may impact Equity Market.
Allocation to Indian Market by F I I is just 0.5 to
0.8 % against 1.2% in 2007
Three Ratios That Tell
Your Bank Is Safe
Capital Adequacy Ratio
Private sector banks*
CAR (In per cent)
ICICI Bank
19.08
HDFC Bank
15.94
Axis Bank
16.97
Public sector banks*
CAR (In per cent)
State Bank of India
(SBI)
12.96
Bank of India
10.76
Punjab National Bank
12.28
Foreign banks*
CAR (In per cent)
Citibank
15.11
Standard Chartered
16.05
HSBC
17.10
Non-performing Assets (NPA) Ratio
Private sector banks
Net NPA (In per cent)
ICICI Bank
0.97
HDFC Bank
0.27
Axis Bank
0.44
Public sector banks
Net NPA (In per cent)
State Bank of India
(SBI)
2.57
Bank of India
2.00
Punjab National Bank
2.85
Foreign banks
Net NPA (In per cent)
Citibank
1.23
Standard Chartered
0.45
HSBC
0.33
Statutory Liquidity Ratio - 1% to 22% now
Change in Indices (comparison of pre-budget,
post-budget & latest price as on 11th July 2014)
18-03-2014 16-05-2014 09-07-2014 11-07-2014
Index Name
% Change
Closed at
Closed at
Closed at
Closed at
(18 Mar- 11 JUL)
CNX NIFTY
6516.65
7203.00
7585.00
7459.60
14.47
NSE–SMALL CAP
3432.70
4249.15
5102.90
4986.00
45.25
BSE – SENSEX
21832.61
24121.74
25444.81
25024.35
14.62
BSE – 100
6490.98
7259.89
7669.51
7533.81
16.07
BSE – 200
2589.40
2898.03
3092.95
3038.88
17.36
BSE – 500
7997.57
8970.17
9681.35
9509.77
18.91
BSE – MIDCAP
6719.37
7765.72
9077.36
8875.24
32.08
Source: Ace Equity (Accord Fintech)
ZERO DEBT CO. PAYING MORE THAN 150% DIV.
FOR LAST 2 YRS.
Company Name
Yr End Div. % Yr End
Div. %
Colgate-Palmolive
2700
201303
2800
Compan Name I Ltd. 201403
Year End
Dividend
% Dividend
%1
CRISIL Ltd.
1000.00
Hindustan
Unilever Ltd. 201403201012
1300 2000.00
201303
1850
OMDC
201003
1860.00
4550.00
Infosys
201403201012
1260 201303
840
Merck
Ltd. Ltd.
950.00
200.00
Akzo
Nobel India Ltd. 201403201012
750
201303
800
Glaxosmithkline
500.00
180.00
Powerica Ltd.
201003
VST
Industries
Ltd.
700
Alfa
Laval (India)
Ltd. 201403201012
SolvayCorp.
Pharma
India Ltd.201403201012
Bajaj
Ltd.
650
CMC Ltd.India Ltd.
Cummins
201403201003
650
Aeonian Investments
201003
BlueEsab
Dart
Express
Ltd.
201403
500
India Ltd.
201012
GlaxoSmithKline
Sonata Software Ltd.
201003
consumer Ltd.
201403201003
450
IPICL
GMMServices
Pfaudler Ltd.
eClerx
Ltd. 201403201003
350
Source: ACE Equity (Accord Fintech)
400.00
201303
300.00
255.00
201303
200.00
201303
200.00
201303
200.00
170.00
201212
160.00
140.00
201303
250.00
625
250.00
325.00
650
150.00
650
150.00
710
200.00
150.00
450
120.00
140.00
250
Cos. Where Profit & Div. Is Increasing
By 15% For Last 5 Yrs.( ‘A’ Group)
Company Name
EICHER MOTORS LTD.
HDFC BANK LTD.
ICICI BANK LTD.
POWER GRID CORP. OF INDIA LTD.
YES BANK LTD.
Source: ACE Equity (Accord Fintech)
Turnaround stock (q-o-q profit from Loss)
CMP
Century Textiles & Industries Ltd.
589.70
201406
66.49
201403
-4.90
Financial Technologies (India) Ltd.
274.10
201406
128.25
201403
-371.25
Jaiprakash Power Ventures Ltd.
16.15
201406
69.15
201403
-171.98
Monsanto India Ltd.
1877.50
201406
71.02
201403
-6.05
NHPC Ltd.
21.25
201406
616.03
201403
-707.40
Peria Karamalai Tea & Produce
Company Ltd.
136.30
201112
58.87
201109
-3.23
Piramal Enterprises Ltd.
668.20
201406
2867.81
201403
-201.39
Sesa Sterlite Ltd.
288.30
201406
170.24
201403
-326.11
Tata Motors Ltd.
484.60
201406
393.65
201403
-816.61
The Great Eastern Shipping
Company Ltd.
359.25
201406
87.61
201403
-12.74
United Breweries (Holdings) Ltd.
38.75
201406
802.10
201312
-3.55
Source: ACE Equity (Accord Fintech)
QTR End PAT Rs. Cr QTR End1
LOSS Rs.
Cr
Company Name
Promoters’ Holding >50% & FIIs Holding is
increasing continuously for last 2 Years
Company Name
Promoter's
Holding (%)
31-03-2014
FII’s Holding
(%)
31-03-2014
FII’s Holding
(%)
31-03-2012
Jagran Prakashan Ltd.
62.59
15.14
7.32
Aurobindo Pharma Ltd.
54.34
27.59
21.17
KSK Energy Ventures Ltd.
67.61
8.97
2.91
Cholamandalam Investment &
Finance Company Ltd.
57.75
19.03
13.21
TVS Motor Company Ltd.
57.40
8.77
3.35
Nesco Ltd.
63.60
8.68
3.37
Ajanta Pharma Ltd.
73.55
7.90
2.74
Tata Sponge Iron Ltd.
54.50
12.38
7.31
Shilpa Medicare Ltd.
53.32
14.77
9.96
Ramco Systems Ltd.
70.70
4.48
0.06
Source: ACE Equity (Accord Fintech Pvt Ltd)
FIIs Holding > Promoters’ Holding
(From ‘A’ Group)
Promoters' FII's
Company Name
Holding Holding
(%)
(%)
Apollo Hospitals Enterprise Ltd.
34.35
41.58
Axis Bank Ltd.
29.17
48.38
Dr. Reddys Laboratories Ltd.
25.49
35.29
HDFC Bank Ltd.
22.56
33.93
Housing Development & Infrastructure Ltd. 36.16
41.46
IndusInd Bank Ltd.
15.19
43.59
Infosys Ltd.
15.94
41.56
Jain Irrigation Systems Ltd.
28.69
39.52
Mahindra & Mahindra Ltd.
25.25
39.24
Shriram Transport Finance Company Ltd.
26.05
50.25
Strides Arcolab Ltd.
27.67
45.45
Tech Mahindra Ltd.
36.15
39.12
UPL Ltd.
29.80
48.59
Yes Bank Ltd.
22.23
45.31
Zee Entertainment Enterprises Ltd.
43.07
49.84
Source: ACE Equity (Accord Fintech Pvt. Ltd.)
FII less Promoters
Holdings
7.23
19.21
9.80
11.37
5.30
28.40
25.62
10.83
13.99
24.20
17.78
2.97
18.79
23.08
6.77
FIIs Holding Increasing from
last 4 Qtrs
Company Name
FII's Holding FII's Holding
(%) at 09-13 (%) at 06-14
Persistent Systems Ltd.
14.82
Ceat Ltd.
0.03
Page Industries Ltd.
21.94
PTC India Ltd.
15.83
Power Grid Corporation Of India
16.87
Ltd.
PVR Ltd.
15.18
Hexa Tradex Ltd.
18.84
UPL Ltd.
39.77
Aurobindo Pharma Ltd.
19.76
Housing Development &
33.64
Infrastructure Ltd.
SKS Microfinance Ltd.
36.90
Natco Pharma Ltd.
6.85
Arvind Ltd.
15.71
Finolex Cables Ltd.
1.10
Gillette India Ltd.
1.68
Source: ACE Equity (Accord Fintech Pvt. Ltd.)
Change of
Holding
26.91
11.76
32.61
26.07
12.09
11.73
10.67
10.24
26.86
9.99
24.90
28.51
48.59
27.59
9.72
9.67
8.82
7.83
41.46
7.82
44.61
14.53
23.31
8.65
8.70
7.71
7.68
7.60
7.55
7.02
Defense Stocks (Cos. Making Profit & Paying Div. for
last 10 Yrs. & Avg. EPS for last 3 yrs. > 33 & P/E<15
& Eq. Paid up> 25 cr.)
Company Name
The Jammu & Kashmir Bank Ltd.
Oil India Ltd.
Clariant Chemicals (India) Ltd.
Bharat Electronics Ltd.
Axis Bank Ltd.
Bajaj Finance Ltd.
State Bank Of Bikaner and Jaipur
Karur Vysya Bank Ltd.
Canara Bank
Bharat Petroleum Corporation Ltd.
JSW Steel Ltd.
Source: ACE Equity (Accord Fintech)
MFs Buying in July 2014*
Company Name
July-14
Jun-14
Change
Ashok Leyland Ltd.
IDFC Ltd.
Axis Bank Ltd.
Bharti Airtel Ltd.
The Indian Hotels Company
Ltd.
Texmaco Rail & Engineering
Ltd.
Dish TV India Ltd.
SJVN Ltd.
KSK Energy Ventures Ltd.
Jagran Prakashan Ltd.
Steel Authority Of India Ltd.
Power Grid Corporation Of
India Ltd.
DCB Bank Ltd.
15239779
9520000
6928875
6775006
5582556
892000
1441831
2069674
9657223
8628000
5487044
4705332
10863928
7059259
3804669
3672159
667159
3005000
5000000
4861989
15180978
7395790
7337342
2000000
2161989
12584244
4820000
4919394
3000000
2700000
2596734
2575790
2417948
2894459
630000
2264459
3376381
1292261
2084120
Source: ACE Equity (Accord Fintech ) * Selling by no. of shares
MFs Selling in July 2014*
Company Name
July-14
Jun-14
Change
Allahabad Bank
1940613
6000000
-4059387
GVK Power & Infrastructure
Ltd.
982447
4928000
-3945553
Union Bank Of India
753924
4623227
-3869303
Idea Cellular Ltd.
7000000
10000000
-3000000
Jaiprakash Associates Ltd.
6330291
9330291
-3000000
Ballarpur Industries Ltd.
3503000
6486000
-2983000
Power Grid Corporation Of
India Ltd.
4415090
7004147
-2589057
TV18 Broadcast Ltd.
6000000
8500000
-2500000
Rural Electrification
Corporation Ltd.
449053
2746553
-2297500
IDFC Ltd.
264000s
2404000
-2140000
Exide Industries Ltd.
775424
2879682
-2104258
The Federal Bank Ltd.
5463440
7464440
-2001000
Texmaco Rail & Engineering
Ltd.
258748
2222961
-1964213
Source: ACE Equity (Accord Fintech ) * Selling by no. of shares
Portfolio: Rakesh Jhunjhunwala
Company Name
Harmony Capital Services Ltd.
Geometric Ltd.
Viceroy Hotels Ltd.
Aptech Ltd.
Rallis India Ltd.
NCC Ltd.
JVL Agro Industries Ltd.
Geojit BNP Paribas Financial
Services Ltd.
Bilcare Ltd.
Holding
(%)
38.49
17.67
13.46
10.83
10.08
9.65
9.57
7.90
7.37
Portfolio: Rakesh Jhunjhunwala
Company Name
Titan Company Ltd.
VIP Industries Ltd.
Kesoram Industries Ltd.
Ion Exchange (India) Ltd.
Autoline Industries Ltd.
CRISIL Ltd.
Escorts Ltd.
Holding
(%)
6.81
6.70
6.38
6.02
5.93
5.64
5.47
Top 10 Picks by
FIIS VS DII ACTIVITY (DEC-2013 TO
NOV-2014)
FII
Month
Net Purchase/Sales
Equity (Rs. Crores)
Total
(+) 114468 Crs.
Source: ACE Equity (Accord Fintech)
DII
Month
Net Purchase/Sales
Equity (Rs. Crores)
Total
(-)42049 Crs.
COUNTRY
PRICE (IN RS./LTR)
VENEZUELA
1.74
SAUDI ARABIA
6.96
LIBYA
7.83
BAHARAIN
11.31
KUWAIT
12.18
INDIA
67.00
BELGIUM
122.57
SWEDEN
124.00
DENMARK
125.00
ITALY
127.00
NORWAY
143.00
Inflation – How it affects us
Year
Family Size
Expense in
Rs/Month
1920
8-12
1
1940
7-10
10
1960
5-8
100
1980
4-7
1,000
2000
3-6
10,000
2010-2014
3-5
50,000
2020
2-3
100,000
A 0 is added to our monthly expenses after each 20 Yrs.
Falling Rupee Mystery!
Around 1750's when the British came to India the exchange
rate was around 1 Rupee = 2.8 pounds. By the time they left India in
1947, it was 1 pound = 5 rupees.
Year INR/USD Year
1973
1978
1983
1988
1992
7.66
8.20
10.11
13.91
28.14
1996
2000
2004
2008
2014
INR/USD
35.52
45.00
45.23
43.41
62.21
The biggest change in the rupee-dollar equation happened
between 28th June & 4th July 1991 when the rupee depreciated by
24%, when Dr. Manmohan Singh was the finance minister.
'How Buffet Does It?'
Buffet says: If you are NOT holding stock for at least
10 years don’t waste more than 10 minutes to
consider it!! However he still gave 4 steps for
Indians!!
Step 1: Identify your financial goals
Step 2: Identify your risk profile
Step 3: Identify asset allocation
Step 4: Invest regularly
10 Financial Resolutions ‘You Must’ Make This Year
1. I will prepare a budget for the year 2015-16
2. I will rebalance my portfolio & book profit
3. I will resist the temptation to make quick profits
4. I will invest in equities systematically
5. I will repay high cost loans
6. I will review my insurance
7. I will not wait till the last moment to file I T Retn.
8. I will prepare my retirement plan
9. I will read the fine print before I sign on any docs.
10. I will follow ALL the above 9 resolutions
Nine GOLDEN RULES Of Investment
1. Look out for the companies that have made buyback from the
open market
2. Promoters acquiring stake through creeping acquisition route
3. Cheap is not always cheap- Don't be misled by EPS / PE Ratio
4. Dividends' don't lie
5. Prefer Companies having top-line growth over bottom-line
6. Higher tax outgo is a good sign
7. Look for domestic driven companies whose product cannot be
easily imported
8. Prefer companies with low debts and strong cash flows
9. Look away for a while and recharge yourself
BUY OR SELL? FOLLOW THE PATH OF LEGENDS
1.BENJAMIN GRAHAM: Even the intelligent investors is likely to
need considerable will power from following the mad crowd
2.WARREN BUFFET: Focus on fundamentally strong and
undervalue companies trading below its Intrinsic value.
3.PETER LYNCH: Invest in what you know….if you stay Half Alert
you can pick the performers right from your office or home
4. JOHN TEMPLETON: The maximum pessimism the best time to
buy and time maximum optimism is the best time to sell.
5. JOHN BOGLE: If you have trouble imagining a 20% loss in the
Stock Market, you should not be in stocks.
6. THOMAS ROWE: Investing in growth stocks with quality
management and generating superior earnings compared with
inflation.
Saving Schemes
Post Office Recurring Deposit
Tenure
5 Years
Interest Rate
8.00% p.a. (comp. qtrly)
Min. Amount
Rs. 10
Max. Amount
No limit
Tax Benefit on Investment No benefit
Tax on Interest
Fully Taxable
Available at
Post Office
Saving Schemes
Public Provident Fund
Tenure
15 Years
Interest Rate
8.00% p.a.(comp.yearly)
Min. Amount
Rs. 500
Max. Amount
Rs. 1,50,000 p.a.
Tax Benefit on Investment Available u/s 80C
Tax on Interest
Tax Free
Available at
Post Office & Banks
Saving Schemes
Kisan Vikas Patra (KVP) Reintro…
Tenure
8 Year- 7 months
Interest Rate
8% p.a. (Compounded)
Min. Amount
Rs. 1,000
Max. Amount
Rs. No Limit
Tax Benefit on Investment No benefit (gets double)
Tax on Interest
Fully Taxable
Available at
Post Office & Banks
Saving Schemes
Bank’s Fixed Deposits
Tenure
3 to 5 Years
Interest Rate
Min. Amount
8.5% to 9.50% (comp.
qtrly)
Rs. 1,000
Max. Amount
No Limit
Tax Benefit on Investment No
Tax on Interest
Fully Taxable
Available at
Banks
Saving Schemes
Bank’s Liquid Fixed Deposits
Tenure
15 Days to 30 days
Interest Rate
2.75% to 3.00 %
Min. Amount
Rs. 1000
Max. Amount
No Limit
Tax Benefit on Investment No Benefit
Tax on Interest
Fully Taxable
Available at
Banks
Saving Schemes
National Savings Certificate
Tenure
6 Years
Interest Rate
8% (comp. half-yrly)
Min. Amount
Rs. 1,000
Max. Amount
No Limit
Tax Benefit on Investment Benefit up to Rs.1.50 L(80C)
Tax on Interest
Fully Taxable
Available at
Specified Banks
Saving Schemes
Post Office Monthly Income Scheme
Tenure
6 Years
Interest Rate
8% p.a.(paid monthly)
Min. Amount
Rs. 1500
Rs. 3.0 Lakh (single a/c)
Max. Amount
Rs. 6.0 Lakh (Joint A/c)
Tax Benefit on Investment No Benefit
Tax on Interest
Fully Taxable
Available at
Post Office
Saving Schemes
Post Office Time Deposits
Tenure
1, 2, 3, & 5 Years
Interest Rate
6.25% to 8.00 %(comp.
qtrly)
Min. Amount
Rs. 200
Max. Amount
No Limit
Tax Benefit on Investment No Benefit
Tax on Interest
Fully Taxable
Available at
Post Office
WILL CURRENT SCENARIO SHALL
ALLOW TO RELAX LIKE THIS?
OR ?
HEART BEATS LOST?
OR ?
SHALL KEEP YOU TENSED ?
OR ?
MAY CHEER THE CAPITAL MARKET ?
THE ANSWER IS IN TIME CAPSULE-
NO ONE KNOWS!!!
BUT ALL SAID AND DONE
“ACCHE DIN AANE WALE HAIN!!!”
Conclusion
 In short the investors have to adhere to the
teaching of Shrimad-Bhagvad Geeta, which says:
o SATYAM(Truth), which is the ethical component
of investment; Choose right stock-right time.
o SHIVAM(Welfare), which should be the economic
objective of investment; Invest to Gain long term.
o SUNDARAM(Beauty), which should be aesthetical
outlook for investment. Follow the “Honest Stock”.
!!!BEST OF LUCK!!!
TO ALL STUDY CIRCLE MEMBERS…
PowerPoint by:
C.A. JAGDISH THAKKAR