Top Newz this week (14-Sep-2013)?
Here is the quick update of what’s top newz in the investment world.
Stock Market update
- Stock market SENSEX has gained 500 points this week. SENSEX increased more than 1300 points in last 2 weeks. All credit to Mr.Rajan, new RBI Governor. Now India Inc. need not worry as to why Rupee is falling against dollar.
- Rupee has gained against US Dollar this week to Rs 63.73 per dollar (as against Rs 65 per dollar last week).
- Mr. Chidambaram would be launching IRDA insurance repositories next week. The depository participants would maintain all history of insurance policies and necessary documentations of insurance holders.
- Income tax Dept said whoever has done e-filing of their income tax returns but missed to send signed copy, has to send signed hard copy of ITR to CPC Bangalore. They have indicated that you can send for the last 2 previous financial years before 31-Oct-2013.
- As per a recent analysis, farmers in India have been dumping Gold investment and started investing in fixed deposit schemes.
News on taxation
- Due date for payment of advance tax is 15-Sep-2013. All banks are working on Saturday and Sunday to enable business men to pay advance tax. Companies need to pay 2nd installment and other tax payers need to pay 1st installment of advance tax before this due date.
What’s top newz in the investment world in India?
1) IIFL Secured Bonds: IIFL Secured bonds would open up for subscription from 17-Sep-2013 onwards. Investor looking for fixed income has been depending on bank fixed deposits, though company FD’s offer high interest rates, they are little risky. Since these are secured bonds, investors may invest with very low risk.
2) HUDCO Tax Free Bonds: HUDCO is planning to issue tax free bonds from 17-Sep-2013. The interest rates are as high as 8.76% which is tax free. There are several reasons why you should invest in such HUDCO tax free bonds of Tranche-I of this financial year
3) RJ Biotech IPO: Investors are tired at looking at SME IPO’s where the profit performance of such companies has been pathetic, but still such companies are proceeding for such IPO’s. RJ Biotech IPO which is comparatively good profit making SME Company has come for IPO this week. Several investment advisors have advised to invest in such IPO.
4) Gold: Gold prices took 5% correction this week from last week. Gold Prices has reduced from Rs 31,860 to Rs 30,125 per 10 grams. After considering this correction, gold prices still have gained more than 15% in last 2 months. Instead of worrying about such corrections, keep investing in gold ETF’s or gold saving schemes (which ever you are comfortable) every month.
5) FMP’s: Due to several NCD, secured bonds and company fixed deposit schemes have been issued by companies, several mutual funds houses are now floating Fixed Maturity Plans which matures between 1 year to 5 years period. ICICI Pru mutual fund has launched 2 FMP’s recently which invests in such NCD and bonds.
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