India Budget highlights 2005-06

Mostly seen as a no-harm budget.

• P Chidambaram simplifies salaried Tax structure
• Includes Investment in Mutualfunds as savings, considered for exemption
• Cuts corporate tax

Markets welcomed the budget by sensex hitting an all time high of 6721.08 in intraday (Closed very near at 6717.37)


http://moneycontrol.co.in/Budget_05/budget_highlights/index.html

Jet airways IPO really worth it?

The Jet airways IPO, priced at a band of Rs. 950 - 1125 is extremely overvalued.

This gives a PE of around 60+ while British airways and KLM is around 23.

Right now Jetairways is running flights domestically in India. It has in got permission to fly to other countries from the Indian government.

Though the initial euphoria might make IPO alotees some money. The agressive pricing is not good for the small investor in the long run.

Verdict : Avoid.


http://www.reuters.co.in/locales/c_newsArticle.jsp?type=businessNews&localeKey=en_IN&storyID=7602354
http://news.ft.com/cms/s/89b444b4-7c30-11d9-8992-00000e2511c8.html
http://www.thehindubusinessline.com/2005/02/09/stories/2005020902371300.htm


Disclaimer: The author is not a Investment professional. These are author's personal comments. You are advised to consult an Investment professional before making any decisions.