rediffGURU Ulhas Joshi answers readers' mutual fund queries
Pre-initial public offering (IPO) allotments have lost favour amid buoyancy in the market and increase in average float size this year. After hitting a record high in 2023, they have come to a halt, with just three companies opting for such placements totalling Rs 235 crore. This compares to eight deals worth Rs 648 crore during the same period of the previous year.
HDFC MF has had a history of stock options and gave additional ESOPs to key staff a few months ago
The newly-appointed chairman of State Bank of India (SBI) Dinesh Khara on Wednesday said maintaining quality loan book, safety of employees and customers will remain his top most priorities. Khara, who took charge on Wednesday, said the bank will continue to strive for even better customer experience.
Days after JP Morgan announced the inclusion of government bonds in its emerging market (EM) bond index, a host of banks and other financial institutions (FIs) are set to tap the debt market. They plan to raise Rs 18,000 crore by issuing non-convertible debentures (NCDs) and bonds. National Bank for Agriculture and Rural Development (Nabard) plans to raise up to Rs 3,000 crore via five-year social impact bonds on Tuesday, the first of its kind in India.
The monopoly of the state-owned State Bank of India in managing provident fund totalling about Rs 2.5 lakh crore (Rs 2.5 trillion) on Tuesday ended with government allowing three private players including ICICI and HSBC a piece of the cake.
'Isn't it obvious? Do you have a doubt? There is so much data that shows that there is quid pro quo.' 'There are many instances of donations being given after the raids, donations being given before the award of a contract and many other permutations and combinations.'
Shrinking inflows and surging outflows on account of profit-booking has curtailed mutual fund (MF) investments in equities since April. The total investments made by equity MFs during the first three months of 2023-24 stands at just Rs 2,980 crore, compared with an average monthly investment of Rs 14,500 crore in 2022-23, reveals data from the Securities and Exchange Board of India. "We are seeing signs of moderation in non-systematic investment plan (SIP) contribution, which has impacted domestic fund inflows in recent months to some extent," says Kunal Vora, head-India equity research, BNP Paribas.
After a meeting of banks on Friday on ways to make funds available immediately, a source in the know said lenders other than SBI and Punjab National Bank had not come on board so far to chip in with their funds.
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.
Seeking to create a global-sized bank, the Cabinet on Wednesday gave the go-ahead to the merger plan of SBI and its five associates, a step aimed at strengthening the banking sector through consolidation of public banks.
Asia's richest man Mukesh Ambani drew nil salary from his oil-to-telecom-and-retail conglomerate Reliance Industries for the fourth straight year in a row while his children earned a sitting fee and a commission for being on the board of India's most valuable company. Ambani, 67, had capped his annual remuneration at Rs 15 crore from financial year 2008-09 (April 2008 to March 2009) to 2019-20 (FY20); and since FY21, he opted to forego his salary, due to COVID-19 pandemic, until the company and all its businesses were fully back to their earnings potential.
I would advise at least a 7 year investment time frame for Equity Investing
Kingfisher promoter Vijay Mallya is ready to infuse Rs 425 crore (Rs 4.25 billion) into the airline and restart its limited operations as soon as DGCA gives a go-ahead, the lead lender to the grounded carrier SBI said.
Is the SBI chairman leaving the bank in a stronger and better position than what it was? Abhijit Lele finds out.
The Rs 38-trillion mutual fund (MF) industry is going through a new fund offer (NFO) rush. Since July 1, the industry has launched close to 70 NFOs. This follows the completion of a near three-month embargo period when the industry had vowed to not launch any new offerings till the time it implemented norms around pooling of investor accounts. As a result, between April and June 2022, the industry was able to launch just three NFOs.
The State Bank of India has transferred 37 per cent of its stake in SBI Mutual Fund to French financial major Societe Generale Asset Management.
Do you have financial planning queries? Ask rediffGURU Anil Rego.
Investor folios exceed 2 million, assets more than double since FY14.
HDFC Bank's latest shareholding data showed that the room for foreign investment has fallen just 5 basis points short of the threshold set by Morgan Stanley Capital International (MSCI) to fully include the stock in its indices. Currently, the index provider has applied an adjustment factor of 0.5 since the foreign room is less than 25 per cent. Removal of the adjustment factor will result in inflows of a massive $4.8 billion (Rs 40,000 crore) into HDFC Bank, according to Brian Freitas, a New Zealand-based analyst with Periscope Analytics.
rediffGURU Kirtan A Shah answers your personal finance queries.
rediffGURU Ramalingam Kalirajan answers your personal finance queries.
The 57-year-old Bhattacharya, front-runner for the post on account of years of service left, was managing director and chief financial officer of the bank prior to her elevation.
Macquarie-SBI Infrastructure Fund (MSIF), one of the largest in this category in India, run by Macquarie SBI Infrastructure Management Pvt Ltd (MSIT), is in an advanced stage of talks with a shipping port company to make an investment of about Rs 1,000 crore ($200-220 million).
State Bank of India on Monday invited bids from strategic as well as financial bidders for stake sale in ailing Jet Airways, and the bids have to be submitted by April 10, said a public notice.
The SIP route suits the salaried class, by matching their income flows with investment frequency.
Budget this year has allowed PSBs to bring down govt stake to 51%
Omkeshwar Singh, head, Rank MF, a mutual fund investment platform, answers your queries.
The interim funding has not been forthcoming thus far, and as a result Jet has extended cancellation of international operations until April 18.
'They have since only tried to improve systems. Also, with regulatory guidance from time to time, we are in a position to assess a situation and react in time.'
The ED case follows the police complaint for alleged criminal conspiracy and defrauding investors.
The IL&FS management is also talking to its second-largest shareholder, Orix Corporation of Japan, to infuse more funds into the company - in case any shareholder backs out during the rights issue.
Most large fund houses, such as HDFC MF, ICICI Prudential AMC, Reliance MF, Reliance MF, Birla SunLife MF and SBI MF, have the backing of large banks or financial institutions, giving them reach and understanding, they say.
SMCF aims to invest in scrips and sectors that are currently out-of-fashion, but hold potential
The time is ripe for a merger of eight fund houses indirectly owned and controlled by the central government, says N Sundaresha Subramanian.
When billionaire Warren Buffet started his first fund in 1956 with eleven investors, he invested a token amount of $100 of his own money as "skin in the game". Buffet denies it but he is credited with coming up with the term describing those running a fund risk some of their own money in it. The mutual fund (MF) industry has more than Rs 81,200 crore riding on its schemes, shows a Business Standard analysis of data on sponsor and associate contributions from the Association of Mutual Funds in India (Amfi).
SBI managing director PK Gupta told reporters that the rupee has been faring better than many of its peers, including the Turkish, Argentinean, and Indonesian currencies.
