Several brokerage houses have given a year-end target of as high as 30,000 for the BSE bourse's benchmark Sensex, with fund managers telling investors not to redeem though the index is still only around 25,000.
At a closed-door meeting with global investors, the largest asset manager in the country boasted of its nearly Rs 37 trillion assets under management (AUM) - 16.6 times that managed by the second-largest insurer SBI Life. The numbers are as of March 31, 2021. The assets of LIC are 1.2 times the net assets of the entire Indian mutual fund industry, which had AUM of Rs 31.43 trillion as of March 31, 2021 (about Rs 37.3 trillion until November this year). The standalone assets that LIC manages are equal to 18.7 per cent of India's GDP and worth more than gross domestic product (GDP) of the UAE, Bangladesh, Malaysia, Singapore, Hong Kong, South Africa, New Zealand, and Pakistan.
Recovery in bluechips and gains in European markets helped the rally.
Banks do extensive investigation before declaring an account fraud; they owe it to us as they deal with our money. Why would they try to fix an innocent borrower? asks Tamal Bandyopadhyay.
The bank may post a loss of Rs 1,000 crore during October-December 2019-20 quarter, an analyst commented.
If you want his advice on your mutual fund investments, please mail your questions to getahead@rediff.co.in with the subject line, 'Mutual Fund Query', along with your name, and Omkeshwar will offer his unbiased views.
Talks of a merger between HDFC Bank and parent HDFC Ltd had gained steam nearly eight years ago, when the Reserve Bank of India allowed banks to issue long-term bonds to fund infrastructure and affordable housing. At that time, key executives at both entities denied any such proposal. And today, the merger has been officially announced by the two players.
Two associations representing pilots and engineers have written to SBI chairman Rajnish Kumar proposing that they would take over the airline and can bring in up to Rs 7,000 crore.
'The effect will be seen two-three quarters down the line.'
The airline had been delaying the salaries of its pilots, engineers and senior staff since August who have not been paid since January.
An advisory body of EPFO has rejected a proposal to engage private banks -- ICICI, Axis and HDFC Bank -- for collection of PF contribution from employers.
It is best not to get carried away by returns or take a short-term view of the markets, says Bhavana Acharya.
'If you want it to grow well and serve the true needs of the economy, it needs a lot of freedom and flexibility, which comes in terms of the reform objective set by the regulator.'
One risk of investing in a very low-cost ETF is if a fund house runs it at below cost, it could close it if it fails to attract institutional money
The money is expected to be disbursed by the lenders consortium led by SBI after the Jet management submits an operational plan on how it intends to use the money till May 7.
The government will launch the mega public offer of LIC by March and file draft papers with market regulator Sebi by the end of this month, an official said. Finance Minister Nirmala Sitharaman had last week reviewed the progress of the initial public offering (IPO) of Life Insurance Corporation (LIC) in a meeting with top officials of the ministry. The official said the September 2021 quarter financials of LIC are getting finalised as well as fund bifurcation is in progress.
10 stocks which are most popular with brokerages right now and are expected to deliver maximum upside over the next 12 months.
BSE benchmark Sensex nursed losses on Friday as investors pocketed gains after a five-session winning streak amid a bearish trend overseas. A depreciating rupee and foreign fund outflows further soured risk sentiment, traders said. The 30-share gauge, which had started the trade on a firm note, soon gave up all the gains and finally ended 651.85 points or 1.08 per cent lower at 59,646.15. The broader NSE Nifty snapped its eight-day rally to close at 17,758.45, down 198.05 points or 1.10 per cent.
SBI had a bad day, sliding the most by 5.36%. Others that dragged the key indices down were M&M, Reliance Industries and L&T.
From the enactment of the capital control Act to the recognition of the BSE as a stock exchange and the infamous Harshad Mehta scam, here are the 18 biggest events for stock markets from 1947 to 1993.
Equity investments are fruitful over the very long 20-year term.
The account turned bad before Chaudhari took over as SBI chairman and the asset was sold to AARC following an open bidding process, months after Chaudhari retired, explains Tamal Bandyopadhyay.
In a chat on rediff.com, Feroze Azeez offered valuable tips.
A case has been registered at the Kotwali police station on a complaint filed by the Trust's secretary and Vishwa Hindu Parishad leader Champat Rai, a senior police official said.
Low home loan rates by banks could put large players in an advantageous position over smaller non-bank players, believe analysts.
About 24 fund houses saw a decline in their debt AUMs in the past one year.
Taxation has played spoilsport despite double digit returns.
Reliance Industries raced to 52-week high on better than estimated earnings and announcement of bonus share.
The IPO is an offer for sale of 38 million shares by SBI, BOB, LIC, PNB and T Rowe Price. Barring T Rowe and PNB, the others are selling stake to comply with Sebi norms.
Jaitley said the government had earmarked Rs 25,000 crore (Rs 250 billion) for recapitalisation.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
HNI investors need an optimal mix of oversubscription and listing-day gain to make money on leveraged bets, notes Sanjay Kumar Singh.
Wondering if mutual fund investments can help you make you enough money for your retirement and child's marriage? Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
This month, advertisements for managing directors and the senior management team for the National Bank for Financing Infrastructure and Development or NaBFID, should be out, signalling the start of a financial institution (FI) like no other the country has ever had. For this and other reasons government managers associated with the NaBFID project are convinced it should remain a 100 per cent government-owned entity. This is somewhat different from what former economic affairs secretary Tarun Bajaj said when the NaBFID Bill was being tabled in Parliament earlier this year: "To begin with, it will be 100 per cent government owned.
According to the revised plan, promoter Naresh Goyal, his wife Anita Goyal and the directors nominated by the promoter would be asked to step down from the board, and the lenders, as part of the resolution process, will infuse around Rs 1,200 crore into the airline as emergency funding.
SBI was the top loser in the Sensex pack, shedding around 3 per cent, followed by Kotak Bank, IndusInd Bank, NTPC, ICICI Bank, Axis Bank and HDFC Bank. On the other hand, HUL, ITC, L&T, Bajaj Finserv and Tech Mahindra ended with gains.
'EPFO's investments this financial year should be Rs 1 lakh crore'
Jet's operating fleet reduced from 103 planes in October 2018 to 35 now, leading to massive cancellations and a surge in airfares
'Is taxable amount above 1 Lac is also to be shown as income from other sources?'
