They say enough correction already; monthly net investment hits 24-month high.
Not many takers for debt funds with longer maturity.
Data shows of the 385 companies, which had announced their latest shareholding, fund houses cut their stake in about 200.
Foreign fund houses outperformed their domestic peers in terms of garnering assets in 2010-11.
An ETF is an investment fund traded on stock exchanges, much like stocks. An ETF holds assets such as stocks, commodities or bonds.
The growth will happen in the asset management market, as the Indian population is richer and economy would continue to grow.
At a time Life Insurance Corporation (LIC) is under the scanner due to the alleged bribe-for-loan scam at its housing finance arm, the mutual fund company of the corporation has been continuously losing business. Its assets have dipped substantially this year. As the mutual fund industry faces redemption pressure, LIC Mutual Fund, a state-owned fund house, has performed worse than the industry so far in the current financial year.
Data from the Association of Mutual Funds in India show that in 2010-11 till date, gold ETFs have seen net inflows rise by close to four times, to Rs 1,169 crore (Rs 11.69 billion), compared with Rs 312 crore (Rs 3.12 billion) during the same period last year.
Though it has been more than six months since the ban on entry load on mutual funds (MFs) came into force, independent financial advisors (IFAs) are still shying away from selling MFs.
The company, which had not ventured out of Rajasthan so far, obtained licences for mining limestone in three states. However, the company says land acquisition is proving a problem.
London-based index creator FTSE recently tied up with the MCX Stock Exchange to offer a slew of new domestic indices and launch a range of international FTSE indices that will be listed and traded on the MCX-SX when it gets regulatory approval. Paul Hoff, managing director, Asia-Pacific, FTSE, spoke to Business Standard on plans for the venture.
Irrespective of the fact that the monsoon has covered most parts of the country, the next fortnight is going to be crucial for the kharif crop. Concerns over the crop size have still not receded as rain has been deficient till now.
The government is likely to come up with export sops for the domestic textiles industry in the upcoming Budget, including a rise in duty drawback rates.
The Aditya Birla Group company has already spent over Rs 3,000 crore on projects to take its production capacity from 17 million tonnes to 21.9 mt and plans to further scale up till 23.1 mt by June-end. K C Birla, chief financial officer, said, "We will continue to maintain our market share and, if required, we will go ahead with more capacity additions to ensure we don't become a loser in the market."
During the last six months, since the cement market witnessed an unexpected surge in demand which later was followed by incessant rise in cement prices, the valuations have jumped by 48 per cent. The replacement cost is the amount of capital needed to replace an old cement plant.
ACC, the country's largest cement maker that had temporarily idled a plant in Himachal Pradesh this month, said it has kept all options open on similar shutdowns at its other locations in case there is no satisfactory demand for its products.
The 204 million-tonne industry is under pressure due to excess capacities coming onstream across the country. Imported coal prices, which touched $200 a tonne in the first half of the current financial year, have now come down drastically.
Cement-maker to increase capacity to 20 MT with three new units. After acquiring L&T Concrete and capturing over 25 per cent of the market share in ready-mix concrete space in the country, the cement major is set to establish a pan-India presence. The company has plans to set up at least three greenfield units with a capacity of 2.5 MT each. According to sources, the company has zeroed in on Rajasthan, Karnataka and Meghalaya for the facilities.
Swiss cement major, Holcim, promoter of two of India's biggest cement companies, ACC and Ambuja Cements, said there is no escape from increasing the cement prices in the country considering the high energy costs.
Chinese equipment is comparatively cheaper than those from Europe. Puneet Dalmia, managing director, Dalmia Cement, said, "At present, we have no plans to bring machinery from China as there are unclear evidences regarding how long the plant would last." Cement majors such as ACC and Shree Cement has imported a small part of their equipment need from China, but these do not make part of the main cement plant.
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances