What's hot this week (8-Sep-2013)?
Here is the quick round-up of what’s hot in investment world in the last few days.
Market and business news
- Stock market SENSEX has gained 650 points this week. New RBI Governor news sentiment worked out well. Bank Stocks rally on Mr.Rajan effect. Rupee has gained against US Dollar this week from Rs 68 per dollar to Rs 65 per dollar.
- RBI indicated that Resident Indians travelling abroad can now carry up to Rs 10,000.
- Microsoft has acquired Nokia mobile phone business for $ 7 Bn
What’s hot in investment world in India?
- REC Tax free bonds: REC has opened subscription for REC tax free bonds. The interest rates are up to 8.71% per annum which is payable annually. They are available in 10, 15 and 20 years tenure period. These are good investment options for high tax bracket individuals as the returns are tax free.
- NCD issues this week: There are two Non-Convertible-Debenture(NCD) issues this week. SREI Infrastructure NCD offers up to 11.75% interest rate per annum. These are secured NCD’s where your principal and interest would be safe. On the other hand Muthoot Finance NCD has opened for subscription which offers interest rates up to 12.55% per annum. This offers secured NCD and un-secured NCD.
- IPO’s this week: There are 2 IPO’s which have opened up for subscription. ACE Tours Worldwide and RJ Biotech. These would be listed in BSE SME Platform.
- Gold: Gold prices have been increasing and this week it moved to Rs 31,860. Gold prices have gained more than 20% in last 2 months. Investing in Gold through Gold ETF’s is a best bet for long term investment.
What’s hot for salaried employees?
EPF balance Online: Employee’s provident fund Office (EPFO) indicated this week that it has geared up to provide online report for employees Provident Fund. However, the website still not updated with this online information. Currently one can know by entering their information and the EPF balance would be sent to mobile.
Will you get pension: Employees' Pension Scheme run by the EPFO has an estimated deficit of Rs 54,000 crore. If the defined benefit plan, which covers 8.25 crore members of the EPF, continues in its present form, it may go bankrupt by the time GenX is eligible to receive the pension. (News from ET)
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