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  MF  BIRLA SUN LIFE EQUITY FUND-G     430.66    (4.28)       BNP PARIBAS MIDCAP FUND-G     20.607    (0.206)       DAIWA INDUSTRY LEADERS-G     12.78    (0.11)       FRANKLIN INDIA FLEXI CAP FUND-G     54.459    (0.6005)       FRANKLIN INDIA HIGH GROWTH COMPANIES FUND-G     24.8416    (0.2717)       IDFC PREMIER EQUITY FUND - REGULAR PLAN-G     61.4705    (0.6297)       IDFC STERLING EQUITY FUND - REGULAR PLAN-G     31.5304    (0.3992)       MORGAN STANLEY A.C.E. FUND - REGULAR PLAN-G     20.697    (-0.161)       RELIANCE GROWTH FUND-G     711.6052    (5.9755)       RELIANCE REGULAR SAVINGS FUND - EQUITY OPTION-G     46.2651    (0.3319)       SBI CONTRA FUND-G     78.0842    (0.8405)       SUNDARAM SELECT MIDCAP FUND - REGULAR PLAN-G     278.592    (3.6648)      

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Date:  22/10/2014
RBI rate cut hopes make traders bullish on Bank Nifty
Savvy traders mounted bullish bets on Bank Nifty on Tuesday on hopes the Reserve Bank of India may cut rates sooner after the government's moves to tighten its finances. The banking index hit an all-time high on Tuesday, outperforming the benchmark Nifty, as investors expect the government's decision to free up the coal sector to improve linkages with power plants. Fund managers said this may reduce the possibility of banks' bad loans in the power sector. It is believed that various influential investors have purchased futures contracts of Bank Nifty in the last couple of days. A source said a billionaire investor has also taken sizeable long positions in the banking index futures, prompting many of his die-hard supporters to follow suit. (ET)
Date:  22/10/2014
Markets rise for third day, coal-related stocks surge
The BSE Sensex and Nifty rose for a third straight session on Tuesday to mark their highest close in one-and-half weeks as coal-related stocks such as Jindal Steel and Power surged on the government's plans to auction coal blocks the top court cancelled in August. India promised on Monday to open up the coal industry to private players and moved closer to selling a stake in a state-run oil company, as Prime Minister Narendra Modi picked up the pace on economic reform days after relaxing fuel price controls. The Modi-led BJP's wins in Haryana and Maharashtra also strengthens its position in the Rajya Sabha, which is key to pushing through reforms such as foreign direct investments in insurance.(BS)
Date:  21/10/2014
Govt approves ordinance for cancelled coal blocks
The National Democratic Alliance (NDA) government on Monday moved to resolve the crisis created by the Supreme Court’s cancellation of coal mining licences and retained the option of allowing private miners to compete with the state-owned Coal India Ltd—a significant and radical reform, whenever it takes place. The cabinet cleared an ordinance to facilitate the allotment of coal mines to state-owned companies that need the fuel, and also to private entities in businesses such as power, iron and steel, and cement for so-called captive consumption. The latter will have to bid for such mines through an e-auction. Through the ordinance, the government also retained the right of allowing mines to be allotted to private companies for mining coal and selling to others, although finance minister Arun Jaitley said in a press briefing after the cabinet meeting that cleared the ordinance that this wouldn’t be done immediately.(Mint)
Date:  21/10/2014
Falling US stocks: Has a bear market begun?
Since Sept. 18, the stock market has fallen more than 6 percent. An abrupt decline last week - after five years of gains - prompted fears that the market may have reached a major turning point. Has a bear market begun? It's a great question. The problem is that short-term market movements are extremely hard to forecast. But we live in the present and must try to understand what's driving markets now, even if it's much easier to predict their behavior over the long run. Fundamentally, stock markets are driven by popular narratives, which don't need basis in solid fact. True or not, such stories may be described as "thought viruses." When they are pernicious, they are analogous to the Ebola virus: They spread by contagion.(ET)
Date:  21/10/2014
Oil & gas stocks rally on diesel deregulation
Stocks of state-owned oil marketing companies Bharat Petroleum Corporation Ltd (BPCL), Hindustan Petroleum Corporation Ltd (HPCL) and Indian Oil Corporation (IOC) were in the limelight on Monday, surging up to 7.3 per cent, as diesel deregulation will cut the subsidy burden. HPCL gained 7.3 per cent to settle at Rs 526.95, while shares of BPCL surged 4.6 per cent to Rs 696.55 on the BSE. Shares of IOC were up 3.8 per cent to Rs 379.60. Buying was also seen in other oil and gas stocks, with Oil and Natural Gas Corporation (ONGC) surging 5.4 per cent, Petronet LNG (3.7 per cent), GAIL (2.4 per cent), OIL (1.4 per cent). The BSE oil and gas index ended at 10,746.97, up 1.9 per cent.(BS)
Date:  20/10/2014
The euro zone is slipping again
Financial markets went into a bit of a tizzy recently as concerns once again started to emerge from Europe. While the single currency zone is struggling with the risk of an outright deflation, markets are now also concerned about weakening economic activity. The problem this time could be more serious as the unease is emanating from Germany, the largest economy in the euro zone. German exports declined by 5.8% in August, the biggest fall since 2009. Economic institutes in Germany have collectively cut their growth forecasts for both the current and the next year.The joint forecast is that the German economy will grow at a pace of 1.3% this year and slow down to 1.2% next year.(Mint)
Date:  20/10/2014
Diesel free, private OMCs look to tank up on retail plans
With prices of both diesel and petrol now linked to the market, private sector oil companies like Essar Oil, Reliance Industries and Shell are planning an aggressive rollout of their fuel marketing business. The country’s largest fuel retailer, IndianOil, operates over 23,900 pumps across the country while PSU firms HPCL and BPCL run another 21,000 outlets. On the other hand, private players such as Essar Oil, Reliance Industries and Shell run a mere 2,000 fuel stations. Market-determined pricing for diesel is vital for the viability of the retail business as the fuel accounts for 44% of the total consumption of petroleum products in the country. (from 36.64 million tonne in 2002-03, diesel sales have risen to 69.16 mt in 2012-13.) While diesel contributes nearly half to sales at fuel stations in the country, along highways, its share is as high as 80-90%.(FE)
Date:  20/10/2014
Revamped Kisan Vikas Patra to be launched early next month
The government is likely to launch the revamped Kisan Vikas Patra (KVP) early next month and may garner about Rs 20,000 crore worth investments in the remaining months of the current fiscal. "All the paper work is complete. We hope to launch the revamped KVP early next month," a senior finance ministry official said. The official further said that even though half the fiscal is over, the government could garner about Rs 20,000 crore from the KVP in the current fiscal ending March. Finance Minister Arun Jaitley in Budget had said he will re-introduce the KVP, which was a very popular instrument among small savers. (ET)
Date:  20/10/2014
All NFOs aren't bad for the portfolio
One way of selling a new fund offer (NFO) is by telling a client that a Rs 10 net asset value (NAV) is cheaper than a well-established scheme with an NAV of Rs 100. 'You will get more units of the scheme with the same investment' is the sales pitch - a completely false claim. The fact is, if the NAVs of both schemes were to rise or fall by 20 per cent, the investor would make or lose the same amount of money. In addition, themes doing well are often promoted as 'flavour of the season', misleading the investor. Around 150 equity and hybrid schemes have raised Rs 22,000 crore in the past year. Such and rampant mis-selling has forced many financial advisors to say investors should not buy NFOs at all. Go for an established scheme with a good history is the recommendation of most of them. Says Suresh Sadagopan, financial planner: "We mostly do not recommend NFOs and prefer established schemes, where we are comfortable with the fund manager's performance."(BS)
Date:  18/10/2014
Investors put over Rs 30,000 crore in mutual fund schemes during September
Investors pumped around Rs 30,500 crore into various mutual fund schemes in September, making it the third consecutive month of inflows. As per the latest data available with the Securities and Exchange Board of India, investors put Rs 30,517 crore in mutual fund schemes (MF) last month after pouring in a staggering Rs 1,00,181 crore in August. Investors had poured in Rs 1,13,216 crore in MF schemes in July. Prior to that, there was an outflow of Rs 59,726 crore in June. At gross level, MFs mobilised Rs 54.1 lakh crore in September, while there were redemptions worth Rs 53.8 lakh crore as well. This resulted in a net inflow of Rs 30,517 crore. According to market analysts, investors have put in most of the money in equity mutual fund and equity-linked savings schemes. (ET)
Date:  18/10/2014
UTI's plans for public offer in pause mode
The initial public offering (IPO) of UTI Mutual Fund has been put on hold for the time being. Sources familiar with the development said the finance ministry, which was approached for approval for the plan, had conveyed there would be no immediate go-ahead. With 74 per cent stake, the government is the largest shareholder in the mutual fund, through stakes held via four public sector institutions - State Bank of India (SBI), Punjab National Bank, Bank of Baroda and Life Insurance Corporation of India (18.5 per cent stake each). The remaining 26 per cent stake is held by global investment management firm T Rowe Price. An IPO could, at the least, offer a partial exit to the company's public sector shareholders. "The plans have been put on hold for now. The ministry has suggested the mutual fund should not immediately go ahead with it," said a source.(BS)
Date:  18/10/2014
Sensex, Nifty gain ahead of state election results
The Sensex and Nifty rose on Friday, led by stocks of domestic-oriented companies including lenders such as HDFC Bank on value buying and hopes a likely win for the Bharatiya Janata Party (BJP) in two recent state elections would help push key reforms. Opinion polls showed Prime Minister Narendra Modi's Bharatiya Janata Party (BJP) was likely to win in Haryana and Maharashtra, unseating unpopular incumbents. Traders say the wins should help push key reforms such as gas price hike and goods and services tax. The gains, however, were not enough to avert a fourth consecutive weekly fall amid one of the most volatile spells in world markets in years. Shares are expected to remain volatile in the coming week, amid the state election outcome due on Sunday, ongoing July-September corporate results and global events such as China's quarterly gross domestic product on Tuesday.(BS)
Date:  17/10/2014
Sensex ends below 26,000; brace for more pain, say analysts
Weakness in the US markets pushed the 50-share Nifty index below its crucial psychological support level of 7800 and Sensex below 26000 on Thursday, led by a sell-off in European markets. European shares reversed an early rebound and slipped in trade, resuming their month-long sell-off as worries over the strength of the global economy and fears of deflation in the euro zone kept investors on edge, said a Reuters report. "Southern European markets were the most hit on Thursday, with Spain's IBEX down by 1.4 per cent, Italy's MIB down 1.1 per cent and Portugal's PSI 20 down 1.5 per cent," added the report. The 50-share Nifty index plunged over 100 points in the last half-an-hour of trade, while the BSE Sensex suffered losses of over 300 points in trade today. (ET)
Date:  17/10/2014
S&P 500, Nasdaq end higher with energy; Dow Jones down 6th day
The S&P 500 and Nasdaq eked out slight gains on Thursday after another choppy session, as economic data eased fears about the potential effect of a weakening global economy on the United States. The Dow closed down for sixth straight session, matching a six-day losing streak in August of last year and leaving the index down 2.8 percent for the year so far. Providing some support to the market, St. Louis Federal Reserve Bank President James Bullard told Bloomberg Television the U.S. central bank may want to keep up its bond buying stimulus for now given a drop in inflation expectations. Economic data showed initial jobless claims fell to their lowest level in 14 years, and industrial output rose sharply in September. (ET)
Date:  17/10/2014
IFCI bond issue opens on Monday
IFCI public issue of non-convertible debentures will hit the market on October 20, its CEO & Managing Director Malay Mukherjee has said. The NCDs will come in tenures of 5, 7 and 10 years and would be listed in both BSE and NSE, Mukherjee told BusinessLine here. IFCI initially wanted to list the NCDs only in BSE, but has now decided to list them in both BSE and NSE, Mukherjee said. Listing in both the bourses would be useful as it will provide a wider trading platform for investors, he added. This NCD offering — which will be open for one month from Monday next — will have issue size of Rs. 250 crore with green shoe option of up to Rs. 2,000 crore, with a face value of Rs. 1,000 a bond. Retail investors will get a coupon of 9.9-10 per cent a year, while wholesale investors could get a coupon of 9.4 -9.8 per cent a year. As much as 75 per cent of the sum mobilised is proposed to be used for lending.(BL)
Date:  17/10/2014
Tata MF awaits favourable market level to launch equity fund
Tata Mutual Fund is waiting for the market level to come down before it launches its new equity scheme, for which it has already received approval from market regulator SEBI, a senior official said here today. "We are waiting for the market to come down to the level of 7,000 to launch a new equity product as we have already received SEBI approval for the same. Still, we think that entering the market at this point may not be good for our company. "In case it doesn't happen, we may not launch the proposed equity fund during the current fiscal," Tata Asset Management Managing Director and CEO Arvind Sethi told PTI, on the sidelines of Tata Mutual Fund's inter-collegiate nationwide quiz competition on finance here today. Tata Asset Management manages funds across the entire risk-return continuum. These include equity funds, hybrid funds and debt and money market oriented funds. These include equity funds, hybrid funds and debt and money market oriented funds. (ET)
Date:  17/10/2014
Equity MFs receive Rs 34,000 crore in April-September
Equity mutual fund schemes have turned attractive with investors putting in a staggering Rs 34,000 crore in them during the first half of 2014-15. In the April-September period of 2013-14 such schemes had seen a net outflow of Rs 5,354 crore. As per the latest data available with the Association of Mutual Funds in India ( AMFI), investors have pumped in a net amount of Rs 33,790 crore in equity-oriented MF schemes in the April-September period. This trend is expected to continue in the coming months, industry experts said, adding that the positive sentiment towards equity MFs and equity-linked savings schemes has been witnessed ever since the Narendra Modi-led government came to power at the Centre in May. (ET)
Date:  17/10/2014
Economic growth is picking up, says Rajan
Economic growth is picking up and fundamentals of the economy are good, according to Reserve Bank of India Governor Raghuram Rajan.“We are expecting a 5.5 per cent growth this year, which could go up a little more to 6 per cent next year and touch 7 per cent later,” Governor Rajan said in an interaction with students of the Indian School of Business (ISB) here on Thursday. The current account deficit has come down and some pick-up is seen in industrial growth though the shutdown of the Nokia manufacturing unit in Chennai had adversely impacted the Index of Industrial Production to some extent. On sustainability of growth rate and the likelihood of reaching the growth target set by Prime Minister Narendra Modi, he said: “The Prime Minister has an ambitious agenda for India. In the US, I was told by the investors about the buzz he created. The level of expectations is high. But to sustain growth we need to think how to reform the system.”(BL)
Date:  16/10/2014
As equity fund raising gains pace, investors to remain selective
India Inc’s equity fund raising in the first six months of FY15 surged to a four-year high of Rs 25,996.75 crore, with a major chunk of money raised via private placement to institutional investors as secondary market ascent boosted investor sentiment, according to data from Prime Database, reports fe Bureau in Mumbai. Companies had raised R30,881.23 crore in FY11. Mobilisation through private placement stood at R20,589 crore, about 80% of the total money raised in H1. Reliance Communications (R4,800 crore), Idea Cellular (R3,000 crore), Yes Bank ($500 million) and Muthoot Finance (R418 crore) were some of the big issues. As companies’ fund raising pipeline remains robust, industry observers opine that institutional investors will remain selective and will only participate where they foresee sizable returns. (FE)
Date:  15/10/2014
Do closed-end funds pay promised dividends?
When the current breed of closed-end funds (let’s call them the new-age closed-end schemes) started to enter the market sometime around April 2013, they claimed to be different. They aimed to stand out on a couple of parameters. First, most of the closed-end funds launched in this period so far have said that they will return the money back to investors once the closed-end tenor (three years, five years, and so on) gets over. After the closed-end tenor gets over, these funds will not become open-ended. Earlier, many closed-end funds used to turn into open-ended schemes once the tenor got over. As a result, after a period of time a fund house used to end up with multiple schemes with very little difference among them. Second, some closed-end funds said that they would aim to declare frequent dividends by regularly booking profits and pay them out to investors. Since many of these funds have completed nine months to a year, we decided to check their dividend declaration promise. (Mint)
     
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