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  MF  BIRLA SUN LIFE EQUITY FUND-G     324.09    (-2.69)       BNP PARIBAS MIDCAP FUND-G     14.28    (-0.139)       DAIWA INDUSTRY LEADERS-G     12.78    (0.11)       FRANKLIN INDIA FLEXI CAP FUND-G     40.8086    (-0.4269)       FRANKLIN INDIA HIGH GROWTH COMPANIES FUND-G     17.252    (-0.1541)       IDFC PREMIER EQUITY FUND - REGULAR PLAN-G     46.3874    (-0.0909)       IDFC STERLING EQUITY FUND - REGULAR PLAN-G     23.1951    (-0.0077)       MORGAN STANLEY A.C.E. FUND - REGULAR PLAN-G     17.852    (-0.181)       RELIANCE GROWTH FUND-G     521.1827    (-5.7342)       RELIANCE REGULAR SAVINGS FUND - EQUITY OPTION-G     34.5112    (-0.4713)       SBI CONTRA FUND-G     61.8339    (-0.3327)       SUNDARAM SELECT MIDCAP REG-G     198.4262    (-1.5919)      

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Date:  17/04/2014
Sensex to rise 75% on technical basis: CLSA Bs Reporter | Mumbai April 16, 2014 Last Updated at 2
Foreign brokerage CLSA has said the Sensex is poised to gain 75 per cent through 12-24 months, on a technical basis. A 75 per cent jump in the benchmark index could take it to 40,000-levels. On Wednesday, the 30-share index closed at 22,277. "A technical view of the recent breakout of Indian markets to new highs is that of a signal that the long-term uptrend off the 2003 low is resuming. This implies an upside target for the BSE Sensex of 39,707 (+75 per cent) through the next 12 to 24 months," CLSA said in its India strategy report authored by analysts Mahesh Nandurkar, Laurence Balanco and Abhinav Sinha. At current levels (21,483-22,023), however, the Sensex could see a temporary dip of three-five per cent, an attractive buying opportunity, the report added.(BS)
Date:  17/04/2014
Index slumps 207 points
The BSE Sensex and the Nifty on Wednesday fell to their lowest close in 2-1/2 weeks, as software stocks slumped on caution ahead of Tata Consultancy Services' (TCS) earnings report later in the day. The Sensex fell 0.92 per cent, or 207.70 points, to end at 22,277.23. The Nifty lost 0.86 per cent, or 57.80 points, to end at 6,675.30. Both the indexes fell for a third consecutive session, to their lowest close since March 27. TCS fell 2.5 per cent, Infosys slumped 3.1 per cent, Wipro lost 2.8 per cent, while HCL Technologies ended 0.9 per cent lower.(BS)
Date:  17/04/2014
Sensex drops most in eight weeks as inflation accelerates
Indian stocks fell for a third day amid concern the central bank may keep interest rates elevated after data showed consumer prices quickened last month for the first time since November. Engineering company Larsen and Toubro Ltd (L&T) fell the most in three months. Infosys Ltd dropped to a six-month low, pacing losses in a gauge of software exporters. Housing Development Finance Corp. Ltd declined for a third day. Tata Power Co. Ltd had its biggest three-day retreat since 7 January. The S&P BSE Sensex lost 0.92%, or 207.70 points, to 22,277.23 at the close, the most since 13 February. Consumer prices climbed 8.31% in March from a year earlier, government data showed after trading ended Tuesday. Wholesale prices also rose more than estimated. Reserve Bank of India (RBI) governor Raghuram Rajan has raised the benchmark interest rate 75 basis points since taking charge in September to curb price rises. The next policy review is due 3 June.(Mint)
Date:  17/04/2014
Now, life insurers can file only 5 products a yr
The Insurance Regulatory Development Authority (Irda) has come out with a new product planner rule by which an insurance company can file only five products for approval a year. But, this has not gone down well with the companies. According to them, this norm would impact the availability of innovative products to consumers. “We have already filed products under the new traditional product regime. Since the basic products have been in place, this was the time to file newer riders and innovative products from FY15. However, the product planner rules do not encourage this,” said the chief actuary of a private life insurance company. In an attempt to reduce time taken for product approvals, Irda has asked life insurers for a product planner before every financial year. The planner would give an indication of the number of products an insurer proposes to file each quarter.(BS)
Date:  17/04/2014
Retail investors return to markets
As the markets rallied to new records in March on hopes that the general election would produce a strong new government, possibly led by the Bharatiya Janata Party (BJP), individual investors stepped up buying and selling of equities. Retail turnover in the cash segment of Indian equities, an indicator of individual investor sentiment, hit a two-year high last month. The average daily turnover by retail investors in cash equities rose to Rs.7,540 crore in March, a 32.1% increase over February, data from Motilal Oswal Financial Services Ltd show. In the futures & options segment, volume rose 17.3% to Rs.65,470 crore—the highest since August 2013.(Mint)
Date:  16/04/2014
Scramble to buy tax-free bonds
The lack of clarity over the issuance of tax-free bonds this financial year has triggered strong demand for these instruments in the secondary market. Market players say about Rs 200 crore of tax-free bonds are changing hands on a daily basis on stock exchanges and the over-the-counter (OTC) market. The demand is spread across investor categories, including retail and corporates. The unprecedented demand for these bonds, issued in 2013-14, has sparked a rally, driving down yields on paper issued by companies such as National Housing Board (NHB), NTPC Ltd and NHPC Ltd as much as 50 basis points.(BS)
Date:  16/04/2014
Sensex falls 144 points as inflation, IIP worries weigh
The Sensex on Tuesday slumped 144 points as higher inflation and a contraction in factory output triggered profit-booking in realty, metal, banking and auto sectors even as IT major Infosys reported better-than-expected results for the January-March quarter. The BSE 30-share barometer initially touched a high of 22,737.31, but fell sharply and remained in the negative terrain for most part of the day. The Sensex settled the day at 22,484.93, a fall of 144.03 points or 0.64%. Selling pressure was prominent in rate-sensitive banking, realty and auto, after the inflation accelerated in March, said Rakesh Goyal, senior vice-president, Bonanza Portfolio. The 50-issue Nifty of NSE also dipped 43.20 points or 0.64%to 6,733.10. Though Infosys posted better-than-expected results, gains were short-lived as weakness on financial counters negated the gains on IT counters.(FE)
Date:  15/04/2014
Mobile management of mutual funds
Some mutual funds allow investors to conduct transactions over their mobile phones by sending a simple SMS. While the exact procedure may vary, the general practice requires the investor to register for the service by filling out a registration-cum-debit mandate form. The form contains details of the mobile phone number that is linked to a folio and from which transactions can be carried out. Once filled out and signed, the form authorises direct debit of transaction amounts from the investor’s bank account for payment to the mutual fund. With the formalities out of the way, investors may purchase or redeem units in these schemes by sending an SMS to a specified number. Upon receipt of such SMSes by the registrar’s server, the request will be electronically time-stamped and units issued or redeemed as per the applicable NAV. AMCs may specify only certain schemes for which transactions can be done through SMS. Check with your fund if the facility is available to you.(BL)
Date:  15/04/2014
Petrol prices may be cut by Re 1 as Rupee weakens against Dollar
State-run oil marketing companies are likely to cut petrol prices by less than Rs 1 a litre this week as appreciation in the value of rupee against the dollar has made imports cheaper. This will follow a 75 paise reduction in petrol rates on April 1. A senior executive at an oil marketing company said Indian Oil Corporation (IOC), Bharat Petroleum Corporation Ltd(BPCL) and Hindustan Petroleum Corporation Ltd (HPCL) can revise petrol rates as early as Tuesday. "Average rupee appreciation is about 80 paise from the last price revision. International oil prices have also marginally softened. We are waiting for latest data, which are expected on Tuesday after that we will take a call," the executive said on condition of anonymity. (ET)
Date:  14/04/2014
Mutual Funds' exposure to bank stocks hit 14-month high at Rs 40,293 crore
Fund managers raised their exposure in bank stocks to a 14-month high of over Rs 40,293 crore in March this year amid rising equities market. According to the latest data available with market regulator Sebi, mutual fund (MF) investments in banking stocks reached Rs 40,293 crore as on March 31, 2014, accounting for 19.76 per cent of their total equity assets under management (AUM) of Rs 2.04 lakh crore. This was the highest level since January 2013, when fund managers had shored up their investment in banking shares to Rs 42,760 crore. This was also the second consecutive monthly rise in exposure. (ET) Read more at: http://economictimes.indiatimes.com/articleshow/33692683.cms?
Date:  14/04/2014
With markets at new peaks, exits from equity MFs surge to 3-year high
With the markets scaling new peaks on a regular basis, investors in equity mutual fund (MF) schemes have hit the exit button. Redemptions — or investor exits — from equity MFs stood at Rs 8,004 crore (around $1.33 billion) in March, the highest since September 2010, data with the Association of Mutual Funds in India (Amfi) showed. This represents a more than two-fold increase compared to the average pullouts from schemes in the past three months. Equity funds, which do not invest in specific sectors, have gained 7.8-11.1% so far in 2014. Popular equity MF categories have surged 5.8-8.1% in the last one month alone, prompting investors to book profits. The sharp gains in the past three months have enabled equity MFs to beat other asset categories, including fixed income schemes, which gained traction following the sharp rise in interest rates in the one-year timeframe. They jumped 24-31.4% during the one-year period. (ET)
Date:  14/04/2014
Rising fund expenses eating up returns. Is there a way out?
Mutual fund investors are getting increasingly worried at the high expenses mutual funds now charge. The latest numbers released by fund companies reveal that equity and hybrid funds (which are what retail investors invest in) now charge an average of 2.42% per annum of assets managed by them. A year earlier, this number was 2.06%. That's an increase of 17.5% in the charges. Because these charges effectively get compounded over a long term, the final impact on an investor after a few years is quite large. For example, if you were invested in a fund that has average returns of 12% p.a. before charging expenses, then over this period, 32% of your returns would be eaten up by expenses. (ET)
Date:  14/04/2014
Exit non-performing mutual funds
The stock market has hit a new high. As on April 10, the Sensex touched an intra-day high of 22,792.49, closing at 22,715.33. However, many equity mutual fund schemes are still trying to catch up with the markets. The net asset value (NAV) of many equity funds across the board - diversified, large- and mid-cap funds - are still near or lower than the January 2008 levels, when the Sensex hit 21,000 for the first time. The NAV of Birla Sun Life International Equity Fund - Plan B (two-star rated equity diversified fund) stood at Rs 11.11 on April 7 this year and Rs 10.99 on January 8, 2008. Reliance Vision Fund (two-star rated equity diversified fund) stood at Rs 294.51 against Rs 293.04 six years ago. Sundaram SMILE Reg (two-star rated mid- and small-cap fund) NAV quoted Rs 34.96 last week against Rs 34.63 six years ago. (BS)
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