Importantly, is there hope going forward?
Ask rediffGURU and PF and MF expert Janak Patel your mutual fund and personal finance-related questions.
'To ensure you remain with the better performers, you need to consistently monitor your MF portfolios and weed out the non-performers, even if they are from a star fund manager or a fund house with a sound record.'
Banks are depending more heavily on the market for certificates of deposit (CDs), whose worth climbed to a record Rs 5.75 trillion in the fortnight to January 15, owing to deposit tightness in the system.
ICICI Bank, HDFC Bank, Infosys, SBI and L&T among fund managers' preferred bets.
Ask rediffGURU Naveenn Kummar your insurance mutual fund and personal finance-related questions.
Ask rediffGURU and PF and MF expert Janak Patel your mutual fund and personal finance-related questions.
'Those trying to use these funds for quick gains should avoid them due to risk of being late to the party.'
In 5 years, the AMC has clocked a growth rate of 40% with its AUM up nearly 4 times.
HDFC Bank on Tuesday said RBI has given approval to the group to acquire up to 9.5 per cent stake each in six lenders, including ICICI Bank and Axis Bank.
Given its focus on the real estate sector, financial planners feel this scheme is not meant for first-time investors and any investor should only have 5 to 10 per cent exposure to this fund.
'The volatility in the stock markets since September 2024 has hurt the pace of accretion of new investors.'
Ask rediffGURU Naveenn Kummar your insurance mutual fund and personal finance-related questions.
Union Bank of India said HDFC Mutual Fund tied up with the bank to distribute its mutual fund schemes across India.
Ask rediffGURU Reetika Sharma your insurance, mutual fund and personal finance-related questions.
The impending merger between Housing Development Finance Corporation (HDFC) with HDFC Bank may create challenges for large-cap fund managers, most of whom are already grappling to match the returns generated by their benchmarks. The combined weight following the merger in the benchmark Sensex and Nifty 50 indices is likely to be much higher than permissible limits for active mutual fund (MF) schemes. This could have a bearing on the performance of large-cap funds if HDFC Bank shares outperform the markets, as the schemes will be forced to remain underweight on the stock to adhere to the single-stock cap.
Ask rediffGURU and PF expert Nitin Narkhede your mutual fund and personal finance-related questions.
Mutual funds (MFs) - flush with cash amid record inflows in July - invested heavily in the Rs 25,000-crore qualified institutional placement (QIP) of India's largest lender State Bank of India (SBI). Fund managers acquired SBI shares worth Rs 10,200 crore last month, making the lender their biggest buy in July.
Ask rediffGURU Naveenn Kummar your insurance mutual fund and personal finance-related questions.
Ask rediffGURU Naveenn Kummar your insurance mutual fund and personal finance-related questions.
Ask rediffGURU and PF, MF and insurance expert Purshotam Lal your mutual fund, insurance and personal finance-related questions.
Ask rediffGURU and PF, MF and insurance expert Purshotam Lal your mutual fund, insurance and personal finance-related questions.
Among Sensex firms, Asian Paints, Bajaj Finance, Tata Steel, Bajaj Finserv, ICICI Bank, Maruti, Reliance Industries, HDFC Bank and Mahindra & Mahindra declined. Tech Mahindra, Tata Motors, Infosys, HCL Tech, IndusInd Bank and UltraTech Cement were among the gainers.
Mahindra & Mahindra (M&M) on Thursday said it has sold 3.53 per cent stake in RBL Bank for Rs 678 crore, representing a 62.5 per cent gain on the investment. On July 26, 2023, the Mumbai-based diversified firm had announced the acquisition of a 3.53 per cent stake in RBL Bank as a treasury investment at a cost of Rs 417 crore.
HDFC Asset Management Company (HDFC AMC) reported a healthy profit after tax (PAT) of Rs 430 crore for the July-September quarter (Q2) of financial year 2023-24 (FY24). It rose 20.2 per cent year-on-year (Y-o-Y) and decreased 8.4 per cent quarter-on-quarter (Q-o-Q). This was driven by good equity returns, leading to a sequential improvement in revenue yields.
With a deployment of Rs 2,720 crore in July, MFs' total investment in HDFC Bank in calendar year 2024 (till now) surged to Rs 48,820 crore.
Ask rediffGURU and PF expert Milind Vadjikar your insurance, stocks, mutual fund and personal finance-related questions.
'Such stocks may be useful for aggressive portfolios, but should not be part of the core holdings.'
Only experienced investors with a high risk appetite, a grasp of market cycles, and comfort with volatility and timing risk should invest.
Despite the uncertainties created by rising bond yields and oil prices, fund managers have been proactively deploying fresh flows into the equity market. The cash available with equity fund managers, which has remained lower at around 5 per cent in the past few months, hit a 16-month low of 4.8 per cent in September, shows a Motilal Oswal Financial Services report. Cash holdings in equity schemes had topped 6 per cent in February amid subdued equity market sentiment.
The rupee recovered 55 paise from its all-time low level to close at 90.38 against the US dollar after a volatile trade on Wednesday, amid suspected aggressive central bank intervention.
rediffGURU Ramalingam Kalirajan answers your personal finance queries.
Ask rediffGURU and PF and MF expert Janak Patel your mutual fund and personal finance-related questions.
'The government's decision to keep interest rates unchanged on small savings schemes will certainly constrain banks' ability to cut deposit rates further.'
From a longer term prospective, while the markets are not as attractive as they were six months back, it would be correct to say that there is reasonable upside for medium to long term investor, said Prashant Jain, head-equities, HDFC Mutual Fund.
rediffGURU Jinal Mehta answers readers' financial planning and health insurance queries
As many as 140 million customers of HDFC Bank and Axis Bank are expected to face interruption in banking services in the weekend due to the former's system upgrade and the transition of Citi India business to the latter. Both the banks have notified their customers about the interruption in services. HDFC Bank - the country's largest private sector lender with 93.2 million customers - had announced that it will undertake a system upgrade on July 13, wherein it will migrate its core banking system (CBS) to a new engineered platform to enhance customer experience.
Ask rediffGURU and PF and MF expert Janak Patel your mutual fund and personal finance-related questions.
Just ahead of its mega FPO opening to public investors, Vodafone Idea (VIL) has announced closure of its anchor book allocation, raising about Rs 5,400 crore from marquee global as well as domestic investors, according to a statutory filing by the telco. This could be the third-largest anchor book after One 97 Communications and Life Insurance Corporation (LIC). One 97 Communications and LIC had raised Rs 8,235 crore and Rs 5,627 crore in the anchor round, respectively.
In a mixed bag for HDFC Bank ahead of the parent HDFC's merger with itself, the Reserve Bank of India has declined to make exceptions on certain aspects, and has offered some leeway on others. The country's largest private sector lender, which is aiming to conclude the merger with the home finance major by July, had written to the central bank seeking certain forbearances after announcing the $40-billion merger in April last year. In an exchange filing this evening, HDFC Bank said it received a response from RBI on Thursday and also said that there are a few pending issues.
