Top Newz this week (20-Oct-2013)

What's Hot this week-20-Oct-13Top Newz  this week (20-Oct-2013)

Last week also, there were several surprises and interesting news is there in the investment world. EPFO accounts show a negative balance for 2.5 Crore members, NHPC Tax free bonds hit the market this week, National Housing Bank planning for tax free bonds, 3 new IPO’s hit the market, HSBC shuts down its shop in Retail brokerage biz etc.

Financial markets and important updates

  • The Stock market SENSEX has gained 382 points this week at SENSEX currently is at 20,882 levels.
  • No major changes in Rupee/Dollar conversion. Currently trading at Rs 61.22 / Dollar.
  • After IMF has cut-down the India growth story last week from 5.5% to 3.75% (1.8% cut), in this week World Bank too has cut India growth story from 6.1% to 4.7% (1.4% cut).
  • HSBC has decided to shut down its retail business  and retail depository services in India. Approx 300 employees would get effected with this decision.

What’s top newz in the investment world in India?

1) NHPC Tax Free Bonds: NHPC tax free bond 2013 issue started this week on 18-Oct-13 and would end on 11-Nov-13. Like, PFC tax free bonds, NHPC bonds also come with highest tax free income of 8.92% per annum for 20 year bonds. These tax free bonds too are good for all investors in various tax brackets.

2) Is your ePF safe? Don’t think EFP money is safe. PF officials are now breaking their head as more than 2.5 Crore members which contributes to 30% of the total members EPFO account showing negative balance. Fraudsters faked and withdrawn by opening a bank account using forged documents. PF officials are now working on how to do the damage control.

3) Banks increase FD rates: Banks started increasing FD rates as tax free bonds interest are almost offering Bank FD rates. This week a few banks have increased FD rates for specific tenures.

4) BSL launched Savings Plan: Birla Sun Life launched BSLI Savings plan. This is traditional savings-cum-insurance plan with guaranteed additions for the first 5 years of the policy term. We would cover detailed analysis later this week.

5) NHB is soon launching tax free bonds: National Housing Bank (NHB) is planning to launch tax free bonds to the tune of Rs 2,100 Crores. This would hit the market very soon.

6) 3 IPO’s hit market this week: 3 SME IPO’s, Mitcon Consultancy IPO, Stellar Capital IPO and Amarpali Capital IPO’s have hit the market this week. Among them, Mitcon Consultancy is rated by Crisil as 4/5 (4 out of 5). Myinvestmentideas.com recommends this as “You can invest”.

7) SEBI issues REIT draft guidelines: Real Estate Investment Trust (REIT) is taking a shape. Last week, SEBI has issued guidelines on how REITs in India would look like. If this is approved, small investors can invest in REIT and get fixed rental income for long run. 

7) Gold / Silver: Due to festival season, Gold and Silver prices have increased this week. This week gold prices have increased by 3% and silver prices by 1%. Current gold prices are at Rs 29,500 for 10 grams. Silver is at Rs 48,000 per KG.

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Suresh
Top Newz in the investment world

5 comments

  • Dr Jain

    Dear Suresh, pleae let me know if senior citizen saving fund and FD are exempted inder section 80c. Also, what is the advantage of investing in them and which ones are the best?

    • Hello Dr. Jain. I could not understand “Senior Citizen Saving fund”. I don’t there is any fund like this. If you meant “Sr. Citizen Saving scheme” as per Post Office and Sr. Citizen FD scheme as per banks, I felt, Sr. Citizen bank FD provide good returns. Coming to risk, post office saving schemes (Govt owned) are safer compared to bank FD (it could be nationalised or private bank or foreign bank). If you are specifically looking for tax saving FD, you should invest in tax saving FD of 5 years, else you would not get tax exemption.

  • TEJAS

    NSEL SCAM RELATED TO STOCK MARKET, IN WHICH JIGNESH SHAH AND OTHERS ARRESTED LAST DAYS, GIVE IT DETAILS THAT HOW IT DONE BY THEM

  • TEJAS

    HELLO SURESH JI. THIS DAYS I SEE NSEL SCAM IN TV ,(1)  WHAT IS NSEL SCAM KINDLY GIVE DETAILS IT .(2) IN DEBT DUND LIQUID FUND,ULTRA SHORT TERM AND OTHERS FOR  WHAT TIME PERIOD INVEST IN THIS MF.  

    • Hi Tejas, Can you pls post the topic on suggest a topic so that I can write an article on that. At funds indicated by you are debt related. If you are low risk investor, invest in debt funds, for liquid funds and ultra short term funds, you can deposit money if you need them back in short term.

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