Reliance Industries, construction major L&T and IRB Infrastructure are some of the top companies that have used an infrastructure investment trust structure to reduce part of their debt and generate returns for their investors. Earlier this month, IRB Infrastructure InvIT was listed on the National Stock Exchange, giving its investors an option to exit by selling their units. The listing came within months of the Securities and Exchange Board of India's (Sebi's) guidelines for conversion of private unlisted InvITs into listed ones were issued.
After a sharp outperformance in the mid-and small-cap segments in the first half of calendar year 2023 (H1-CY23), analysts are now turning cautious on these two market segments and suggest investors stay selective and look for valuation comfort and earnings visibility before investing. The S&P BSE Midcap index has surged 13.7 per cent in H1-CY23, and the S&P BSE Small-cap index gained 12.7 per cent during this period, data shows. The S&P BSE Sensex, in comparison, has moved up 6.4 per cent.
On an average, small-cap funds have generated annualised returns of 67.5% in the last two years. Large-cap funds and mid-cap funds have given average annualised returns of 41.3% and 53.4% respectively.
The country's mutual fund industry posted five per cent growth in average assets under management (AUM) to touch all-time high of Rs 8.68 lakh crore in May on the back of strong inflows into money market and income funds.
Market regulator, the Securities and Exchange Board of India, has set out five broad categories for mutual fund schemes, including equity, debt and hybrid funds that will benefit investors, says Ashley Coutinho
Investing merely on the basis of past return can land you in trouble even in debt funds, a supposedly safe asset class, suggests Sarbajeet K Sen.
A rebounding and steady market is a good time to weed sectors and funds that tend to drag the portfolio.
sharper-than-expected economic recovery back home, analysts say, can fuel a further rally in domestic cyclicals, industrials, and financials as global central banks continue with their easy money policy.
Equity flows have been under pressure since the second half of 2018, after the IL&FS crisis sent shockwaves in both equity and debt markets.
Brokerages are expanding the universe of stocks they cover amid a boom in the market. Several stocks in the mid-cap universe are now tracked by more analysts than they were a year ago. For instance, SBI Cards and Payment Services is now tracked by 17 brokerages, compared to just four a year ago.
These schemes are expected to perform in the next 2-3 years.
After withdrawing record funds in 2021-22, foreign portfolio investors (FPIs) continued their sell-off in the last fiscal too and pulled out Rs 37,631 crore from Indian equities amid aggressive rate hikes by central banks globally. The outflow trend is likely to reverse in the current financial year since India has the best growth potential in the financial year 2023-24 (FY24), VK Vijayakumar, chief investment strategist at Geojit Financial Services, said. Market analysts believe that FPI flows in the current financial year would be decided by a host of factors, such as the US Federal Reserve's policy stance, oil prices movement and development in the geopolitical situation.
Data shows of the 385 companies, which had announced their latest shareholding, fund houses cut their stake in about 200.
One of the biggest advantages of index funds and ETFs is their low cost, points out Sarbajeet K Sen.
The recent circular follows the 'true-to-label' concept, but large funds in the multi-cap category may be forced to merge in the absence of sufficient small-cap options.
The most important step is delivering what is needed -- a fairer IPO pricing, notes Debashis Basu.
Seek advice from Sebi-registered investment advisors whose names are available on Sebi's Web site.
What are the points to consider when you evaluate a prospectus? Apart from looking at the fund's track record, latest performance and the credit worthiness of the fund managers, you need to look into the fund expenses as well.
Stocks of public sector undertakings (PSUs) have been on fire in the past year as investors cheered an improvement in key operating metrics and embraced counters of these state-owned enterprises, analysts suggest. The S&P BSE PSU Index has gained over 90 per cent in the past year, rising much higher than the S&P BSE Sensex, which has rose nearly 19 per cent during this period, according to ACE Equity data. The BSE PSU Index, reports show, has delivered a compound annual growth rate (CAGR) of 28 per cent (including dividends reinvestments) over five years and risen by almost 60 per cent in the past year.
Goals like buying a car or travelling abroad are short-term goals whereas purchasing a house or retirement planning are medium and long-term goals.
Salil Dhawan explains how as you progress in your career you can also grow your money at a phenomenal pace if you start investing early.
HDFC and HDFC Bank's merger - touted as India's biggest-ever corporate merger - pumped up shares of the two entities on the bourses. Shares of Housing Finance Development Corporation (HDFC) skyrocketed 9 per cent while those of HDFC Bank zoomed 10 per cent. In comparison, the benchmark S&P BSESensex and the Nifty50 indices settled 2.2 per cent higher on Monday.
Outflows are likely to continue, experts say, till such time as the markets see a significant correction.
While the purchases of celebrity investors become public knowledge, what is not known is the price point at which they bought them.
Domestic mutual funds (MFs) have kept their faith in the Indian stock market despite multiple headwinds all through 2022-23 (FY23), with their net flows into equities crossing the Rs 1.5-trillion mark for the second consecutive financial year. MFs pumped a net Rs 1.53 trillion into equities till March 1, 2023, the Securities and Exchange Board of India (Sebi) data shows, as compared to Rs 1.72 trillion in FY22. Since FY15, MFs have been net buyers of equities, except in FY21, when they sold a net Rs 1.21 trillion.
Rebalance the portfolio at least once a year to ensure it remains in sync with the target asset allocation.
Market expert Shrikant Chouhan, head of Technical Research, Kotak Securities, replied to many such important investment queries during a chat on rediff.com on Tuesday.
You must invest to earn returns. Emotions and feelings must be reined in and an objective approach should be adopted to succeed in the market.
While comparing portfolios of various mutual fund schemes, investors must keep the following points in mind. Read on:
BSE's, NSE's overnight liquid fund facility can help stock investors maximise returns
If you are bullish on the consumption theme, consider specialised mutual funds that focus on this theme. Remember that such sectoral mutual funds should not make up more than 5% to 10% of your equity portfolio.
The sharp rally in the midcap stocks has made valuations expensive, and there is room for a correction, wrote Christopher Wood, global head of equity strategy at Jefferies in his latest note to investors, GREED & fear. The midcap index, Wood said, now trades at 24.1x 12-month forward earnings compared with 18.7x for the Nifty. Rising crude oil prices, he believes, are another worry for India, which imports nearly 80 per cent of its annual crude oil requirement.
Majority of equity linked savings schemes as well as mid and small-cap funds outperformed their respective benchmark indices over a five-year period ended December 2015.
The rally in silver may continue if the global economic recovery remains on course.
Shares of MRF crossed a first time Rs 100,000 mark, hitting a record high of Rs 100,300, up 1.4 per cent on the BSE in intra-day trade. on June 13, 2023. The stock surpassed its previous high of Rs 99,879.65, touched May 8, 2023. Thus far in the current calendar year 2023 (CY23), MRF has outperformed the market by gaining 14 per cent on improved financial performance.
They are suitable for a 3-5 year horizon. Choose equity funds for longer than 5 years
FIIs accumulated India's top-listed companies at an average valuation of around 16 times.
It is best not to get carried away by returns or take a short-term view of the markets, says Bhavana Acharya.
At the outset, decide whether you want to be a trader or an investor, suggest Sarbajeet K Sen and Sanjay Kumar Singh.
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