'For the first time ever it has come below 1 per cent, at 0.97 per cent.'
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The market regulator is wielding an unprecedented level of control over how mutual funds operate, delaying new launches and dictating investment strategy, frustrated insiders in the embattled industry say.
With the government clearing the decks for direct listing at the Gujarat International Finance Tec-City (GIFT City) International Financial Services Centre (IFSC), issuers will wait for the ecosystem to develop further before firming up their listing plans. In the meantime, most companies may continue to prefer listing in the onshore market, even as the new avenue provides key benefits such as tax waivers and reduced foreign exchange risk. Sources said that a few key things need to be ironed out further.
rediffGURU Hemant Bokil answers your personal finance queries
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
Life Insurance Corporation of India (LIC) February 8 for the first time ever crossed the Rs 7 trillion market capitalisation, as the stock price of state-owned insurer hit a new high of Rs 1,144,45, on rallying 10 per cent on the BSE. The board of directors of the Corporation are scheduled to meet today i.e. February 8, 2024, to consider a proposal for declaration of interim dividend for the financial year 2023-24 (FY24). The board will also consider and approve the unaudited financial results for the quarter and nine-month period ended on December 31, 2023.
'To achieve a corpus of Rs 10 crores in the coming years, I would suggest you increase your SIP, advises Nikunj Saraf, vice president, Choice Wealth.
While the number of international MF schemes is increasing, so is the confusion for investors.
After Chanda and Deepak Kochchar, the Kudvas are the second power couple in the financial world to come under the regulatory glare.
India's 32 mutual fund houses saw an erosion of over Rs 32,200 crore (Rs 322 billion) in their total asset under management last month, with a weak stock market robbing off some shine from their over Rs 5 trillion portfolio.
Chandra, who will turn 69 years old on Saturday, becomes non-executive director with immediate effect.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
If the nominations are not in place, the heirs need to go through a lengthy process to get access to the money cautions Bindisha Sarang.
Maruti Suzuki India is facing stiff resistance from private sector mutual funds and insurance companies, which own almost 7 per cent of the company, for its decision to allow Suzuki to make cars for the Indian car-maker at a proposed plant in Gujarat instead of manufacturing vehicles itself.
Some of Modi's biggest reforms have met with fierce political opposition.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
Experts say a lot of new wealth is being generated by promoters selling their stake.
Will 2022 be a year of contrasting narratives -- one filled with caution and the other with continued optimism?
The difference between what the banks play in the US and India is not that of soccer and football but rugby and football. SVB also has a unique character. But when risks are mispriced, the fallout could be very similar, points out Tamal Bandyopadhyay.
Share rises further to 73 per cent from 66 per cent last year; Some overseas i-banks seen scaling down operations
Many requests are pending with the Swiss authorities.
Sebi directs freezing of all demat accounts not linked to Aadhaar by December 31
HSBC maintained "overweight" rating on Indian equities, saying "fundamentals are strong".
National Demorcatic Alliance ministry's list of assets is fairly wide -- from land and property to vehicles and, for quite a few, guns. Nivedita Mookerji reports
Shares of most European banks are down significantly.
Floor price of SAIL to be set at Rs 83 a share.
'Experts are not ruling out further pain as global factors cannot insulate India from the aftermath.'
Deutsche Bank could be the next to trim its retail operations.
Mop-up misses target as big FIIs skip issue.
'India's sizeable forex reserves should help stem a possible fall in our currency.'
The market breadth in BSE remains positive with 1,554 shares advancing and 1,196 shares declining.
These individuals largely include businessmen associated with companies, including the dummy ones, in sectors ranging from real estate, financial services, technology and telecom to paints, home decoration, textiles, engineering goods, gems and jewellery. Several of these persons and their companies are said to be based in Kolkata, Gujarat, Bengaluru, Delhi and Mumbai.
The Sensex ended below 28,000 for the second straight day at 27,869.
Sensex hit a record high of 27,225.85 and Nifty hit a record high of 8,141.90 in the intra-day trades today.
Offloading shares in ONGC, CIL, NHPC may fetch govt more than the year's target.
The optimism in global markets could help India as the rebound in GDP is expected to continue and get more broad-based.
India has been probing hundreds of black money cases.
'The difference between black money in India and the black money out of India is, in India, it is tax evaded money and Indian money outside India is not only tax evaded money, but money which has been taken out of India's capital resources needed for India. So it is not only tax evasion, but treason too.'
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