Top Newz for this week (6-Apr-2014)
Top Newz for this week (6-Apr-2014)
CPSE ETF lists on exchanges and up by 11% on day 1, Geojit BNP Paribas launches 4 equity SIP’s, Lakshmi Villas Bank Rights issue, NSEL to start re-mat of e-series contracts etc., are some of the top news in the investment world and personal finance in India
Whatz happening in Financial Markets?
Sensex has marginally gained 19 points this week. Currently SENSEX is at 22,359. Still, we expect that SENSEX may show new highs in coming weeks due to the elections ahead.
Top 5 Gainers are Hindalco 6%, Tata Steel 5%, Cipla 4%, Sea Goa 4% and Reliance Ind 3%
Top 5 Losers BHEL 8%, Gail 5%, ITC 4%, Tata power 4%, HDFC Bank 2%
The rupee has marginally depreciated against the dollar. Currently trading at Rs 60.09 / dollar compared to the previous week of Rs 59.9 / dollar.
Top newz in the investment and personal finance world
1) CPSE ETF closes 11% higher on day 1: Goldman Sachs CPSE ETF where NFO got issued two weeks back is now listed on stock exchanges and closed 11% than the issue price on day-1. Means investors got 11% listing gains on day-1. This is an NFO where it got oversubscribed.
2) SEBI Gets more power to act against pyramid schemes: Govt. of India has re issued SEBI (Amendment) 2014 ordinance which empowers SEBI to have more powers to act against Pyramid Schemes which has been duping lakhs of investors. SEBI can now seek any information from any person on a particular transaction.
3) No more penalties for not maintaining a minimum balance at the bank: RBI recent move indicating banks not to charge any penalties for not maintaining a minimum balance of SB accounts would help saving bank account holders. However, banks want to charge fees for, free services that they were providing earlier to such customers who are are not maintaining a minimum balance.
4) Geojit BPP Paribas launches 4 equity SIP’s: To match various risk appetite investors, Geojit GNP Paribas has launched 4 equity SIP schemes. Geojit Classic SIP, Geojit Enhancer SIP, Geojit Defensive SIP and Geojit Growth SIP are the new schemes which are being launched. These SIPs would be available to invest monthly and a few of them would be made available to invest on a weekly basis.
5) Titan plans for online sale of jewelry and watch to NRI’s: Coming Diwali, Titan Plans to attract NRI’s in US, UK, Dubai etc., by providing online jewelry and watch sale. Titan is in the plan to update their portal and make necessary arrangements and launch this before Diwali.
6) Lakshmi Villas Bank Rights issue: Lakshmi Villas bank approached SEBI to provide Nod for Rs 505 Crore Rights issue. This money would be used as capital base for growth strategy.
7) ICICI MF grows by 22%, which is best in the industry: Quarter ending Mar, ICICI Mutual fund has grown by 22%, which makes this as best in Mutual fund house in the entire industry. ICICI MF has grown now to Rs 1.07 Lakh Crores. However, it still stands in 2nd position and HDFC MF house still in 1st position at Rs 1.13 Lakh Crore asset base. ICICI MF has launched 18 years back, which now caters for 20 Lakh investors with around 57 mutual fund schemes which are diversified across various segments and sectors.
8) RBI Grant 2 bank licenses: RBI has granted 2 bank licenses for Infra fund IDFC and Microfin. However, several top heavy weights were disappointed as their application is yet to be approved. These 2 licenses would provide employment for approx 10,000 people.
9) NSEL to start remat of E-series contract: Good news to investors who could not close the e-contracts during Aug-13 due to a payment crisis can now apply their e-series contracts for either converting to metals or seek closure through financial settlement. This window would be opened on 12th April and would be closed by 23rd April, 2014.
10) Gold and Silver: Gold and Silver prices have increased this week by 2% and 3.5% this week. Current gold prices are at Rs 28,850 for 10 grams. Silver is at Rs 44,250 per Kilogram.
If you enjoyed this article, share it with your friends and colleagues through Facebook and Twitter.
Top Newz in this week
- Best Sovereign Gold Bonds to buy from secondary market - October 19, 2020
- What is Macaulay duration concept and how it helps you to choose right debt mutual fund? - October 16, 2020
- Mahindra Manulife Focused 30 Equity Yojana Fund NFO – Should you Subscribe? - October 18, 2020