What's hot this week (22-Sep-2013)?
Here is the quick round-up of what’s hot in investment world.
Stock Market update
Stock market SENSEX has gained 470 points this week at currently is at 20,263. SENSEX dipped by 500 points on Friday’s session after RBI Governor increased RBI Repo rate. FII’s turned bullish on Friday after couple of month’s gap.
- RBI Governor has increased the RBI repo rate by 25 bps from 7.25% to 7.50%. Due to this move, all banks are expected to increase the interest rates on housing loans, car loans, personal loans etc. This would add burden to borrowers. Mr.Raghuram Rajan indicated that this measure is towards anti-inflation.
- Small investors now would get option to exit if promoters use money raised through publish issue for other purposes, other than what is specified in prospectus. SEBI is working out on the detailed model the price payable to small investor during such exit etc.
What’s hot in investment world in India?
1) HUDCO Tax Free Bonds: Hudco tax free bonds issue has started on 17-Sep-13 and would end on 14-Oct-13. This time HUDCO tax free bonds offer high interest rates of 8.76% compared to its previous issue in Feb/Mar-2013 where the interest rates were less than 7.8%. Last week REC tax free bonds issue was there where it offered 8.7% returns. After long time, investors might be feeling happy that there are some best investments available in the market.
2) RBI planning to issue two saving products: RBI is planning to launch 2 saving products where returns are linked to retail consumer price inflation index. One product would have lump sum payment at the end of maturity period and other would have indexed interest payments. The details would be published soon. Earlier RBI has issued inflation indexation bonds where the returns are linked to WIP (Wholesale price index).
3) Update on Gold / Silver: Gold prices have stabilized this week. Comparing to last week, there is minor increase in gold prices this week. Silver prices have increased by 3% this week.
4) ING launches guaranteed income insurance plan: ING life insurance has launched guaranteed income insurance plan. In this plan the customer makes premium payments for 50 per cent of the chosen policy term and enjoys guaranteed tax free regular income over the remaining policy term. At the end of the policy term, the customer gets a guaranteed tax free lump sum payout. More details are awaited. We would cover our detailed analysis next week on this.
5) ICICI launches Easy Retirement-ULIP: Though investors are not showing much interest in ULIP’s, still insurance companies are coming up with new products in this segment. This week, private insurer ICICI Prudential Life Insurance launched Easy Retirement, a unit-linked plan. They indicate that this enables customers to build retirement corpus in a cost effective and convenient manner.
6) ICICI Lombard comes with "Road side assistance insurance cover": Private sector general insurer ICICI Lombard General Insurance has launched 'road side assistance cover' for its private car insurance policy holders. As per the company, the add on cover will provide complete assistance in case of an emergency like vehicle breakdown or accident.
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