Top Newz for this week (13-Apr-2014)
Wonderla Holidays IPO going to hit the market in next few days, Sun Pharma acquires Ranbaxy, HSBC and Motilal Oswal launches new Mutual fund schemes, IRDA slap Reliance Life with Rs 1.77 Crore penalty are some of the top news in the investment world and personal finance in India
Whatz happening in Financial Markets?
- Sensex has gained 269 points this week. Currently SENSEX is at 22,628. We still expect that SENSEX may show new highs in coming weeks due to the elections ahead.
- Top 5 Gainers are Sun Pharma 10%, SBI 5%, Axis Bank 4%, Tata Steel 4%, Coal India 4%
- Top 5 Losers Hero Motocorp 4%, Dr. Reddy 3%, Infy 2%, ONGC 1.7% and Bajaj Auto 1%
- The rupee had minor change against the dollar. Currently trading at Rs 60.18 / dollar compared to the previous week of Rs 60.09 / dollar.
Top newz in the investment and personal finance world
1) Wonderla Holidays IPO: Wonderla Holidays Limited, which owns and operates 2 amusement park is coming up with an IPO and it would open for subscription on 21st April, 2014. The price band is Rs 115 to Rs 125. Currently Wonderla Holidays is growing at 20% CAGR. Crisil assigned 4/5 rating to this Wonderla Holidays IPO. Wonderla Holidays is planning to open an amusement park in Hyderabad. With the split of Andhra Pradesh State would have an impact on this IPO? Wait for our analysis tomorrow.
2) HSBC planning to launch HSBC Managed Solutions fund: HSBC is planning for new mutual fund scheme (NFO) to attract various investors. The scheme is HSBC Managed Solutions fund which would dynamically allocate and optimize allocation for various risk profiles. This NFO is currently open and closes on 23rd April, 2014.
3) Motilal Oswal launches Most focused multicap 35 fund: Motilal Oswal has launched a new MF scheme called Most focused multicap 35 fund which invests in a maximum of 35 equity stocks and equity related instruments. NFO is currently open and closes on April 17th, 2014.
4) SEBI gets new tool to detect fraud: SEBI is getting new tool which would help in investigation and surveillance activities. This would help this security market watchdog to keep close eye on possible manipulation activities in the stock market by monitoring stock prices and information available on the internet such as blogs, websites etc.
5) BSE Trading disrupted for the second time this week: After BSE has launched a new trading platform, BSE trading got disrupted for the second time this week. Several brokers complained that the share prices were delayed by 15-20 minutes. Last Monday, BSE introduced a new trading system for shares called BOLT which disrupted the trading.
6) Sun Pharma acquires Ranbaxy: With just 2 weeks of discussions, Sun Pharma has announced this week that it is acquiring struggled Gurgoan based Ranbaxy pharma. Combined revenues for both these companies would be $ 4.2 Bn which makes this as largest deal in Pharma industry. Investors of Ranbaxy would get 4 Sun Pharma shares for every 5 shares held by them.
7) Markets reach peak – Demat account holder decline: On surprising note, while markets are reaching new peak day by day, in the last couple of years, there is a decline of demat account holders. Out of 2.1 Crore demat account holders, more than 1.1 Crore demat accounts got closed in the last couple of years.
8) Forex reserves surge as FII’s pump money in stock market: Reserve Bank of India informed that forex reserves surged $ 3.7 Bn this week. RBI has continued to buy US Dollars in the last 2 weeks to the tune of $8 Bn. FII’s are pumping money in stock markets expecting business friendly and stable government in India.
9) IRDA slaps Rs 1.77 Crore penalty to Reliance Life: IRDA has slapped Reliance Life and imposed a penalty of Rs 1.77 Crore for violation of various norms including obtaining business from unlicensed entities. IRDA examined various charges including violation of Advertisement and product distribution norms for its insurance products. IRDA noticed instances when the business is sourced from unlicensed entities through Multi Level Marketing.
10) Gold and Silver: Gold prices have increased this week by 2%, while Silver prices were stable. Current gold prices are at Rs 29,400 for 10 grams. Silver is at Rs 44,250 per Kilogram.
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