Logout redirect to home page

I’m using custom menu for login/logout here below is my code:

<li>
<?php
   if (is_user_logged_in()) {
      $user = wp_get_current_user();
      echo 'Welcome <strong><a href="http://kolkataonwheelsmagazine.com/wp-admin/index.php" >'.$user->user_firstname.'</a></strong>
	  | <a  href="http://kolkataonwheelsmagazine.com/wp-login.php?action=logout&quot;">Logout</a>';
   } else { ?>
      <strong><?php wp_loginout(); ?></strong>
      or <a href="<?php bloginfo('url') ?>/wp-login.php?action=register"> <strong>Register</strong></a>
<?php }?>
        </li>

but problem is :
redirect to login page not current page…

I want it should go to home page after logout
Any help greatly appreciated.