Top Newz in this week (26-Jan-2014)
Happy 65th Republic day.
SBI slashes home loan rates for women, Ranbaxy faces USFDA ban for one its factory, Kalyan Jewellers is in full swing for expansion plans, 43,000+ jobs from top 4 IT firms, RBI decides to phase out bank notes prior to 2005, DBP BR AMC conducts top bloggers meet etc. are some of the top news in the investment world and personal finance world in India.
Whatz happening in Financial Markets?
Sensex gained 70 points this week. Currently SENSEX is at 21,133.
- Top 5 Gainers are Wipro 4%, Hindalco 3%, ICICI 2%, TCS 1% and Sunpharma 1%
- Top 5 Losers Coal India 5%, BHEL 4%, Tata Power 3%, Reliance Industries 2% and Hero Motocorp 2%
Rupee has weakened this week against the dollar. Currently trading at Rs 62.69 / dollar compared to the previous week of Rs 61.54 / dollar.
Top newz in the investment and personal finance world
1) SBI Slashes home loan rates for women: SBI has reduced the home loan rates for women to 10.10%. EMI works out to be Rs 885 per lac up to Rs 75 Lakhs loan. SBI home loan rates are better as they offer low interest rates and charge interest on daily reducing balance.
2) Ranbaxy faces ban from USFDA: Ranbaxy faces a tough situation as USFDA bans its Punjab factory to import drugs to US. This is the 4th factory where Ranbaxy has faced the ban from the USFDA. Ranbaxy has approx 40% share in the US market and this ban would pose a big risk for Ranbaxy revenues in the coming quarters.
3) DSP BR Mutual fund AMC conducts bloggers meet: On 25th January, 2014, DSP BR MF AMC has conducted bloggers meet in Mumbai to strategise on how to educate investors about the importance of the investments and mutual fund schemes. Experts felt that mutual fund investments are under-estimated by investors and creating awareness would help investing in right mutual fund schemes. In a study presented by DSP BR, only 12% of working women are taking investment decisions.
4) Kalyan Jewellers is in full swing for expansion plans: Thrissur based Kalyan Jewellers continues to be in expansion plans. It is planning to open 10 stores abroad and another 15 stores in India. Last month it opened 10 jeweller stores in UAE. Last month Amitabh Bachan and Aishwarya Ray, brand ambassadors of Kalyan Jewellers, have opened several stores in the UAE.
5) 43,000+ jobs in India from top-4 firms in next 3-4 years: Good news for employees and graduates. In next 3-4 years, top 4 big firms planning to hire 43,000+ jobs in India. Ernst and Young, PwC, KPMG and Deliotte plans to hire in big way due to rise in business in Tier-II and Tier-III cities in telecom, infrastructure, state owned projects and aggressive expansion plans in shared service centres. This is a BIG good news for aspiring fresh engineering graduates, Chartered Accountants and MBA’s who would get benefitted.
6) RBI decides to take out bank notes prior to 2005: In a move to counter black money and assist in weed out fake circulation, RBI has decided that it would take out bank notes prior to 2005. Such notes need to be exchanged with banks before 31-Mar-2014. However, these bank notes would still continue to be legal tender.
7) DSP BR Dynamic Asset Allocation Fund NFO closes on 31-Jan-2014: DSP Black Rock Dynamic Asset allocation NFO, which opened last week would close on 31st January, 2014. This is a unique fund of funds mutual fund scheme which adjusts the asset allocation based on market trends. Analysts indicate that this is similar to balanced fund, but works well either in uptrend or downtrend of the markets.
8) Stock markets correction ahead ?: Ahead of RBI monetary policy review and Federal Open Market Committee (FOMC) meet could decide the trend of the market this week. Experts are of the opinion that a market correction is on the way and expected any time.
9) New PAN cards now require to produce original documents: With effective from 3rd February, 2014, if you are applying for PAN card, you need to produce original documents relating to identification, address and date of birth. Currently, no proofs are being required when one applies for PAN cards.
10) Gold and Silver: Gold prices have increased by 3% this week. Silver prices have gained by 2% this week. Current gold prices are at Rs 30,125 for 10 grams. Silver is at Rs 46,125 per Kilogram. Since the market correction is expected any time, there is high expectation that gold prices would reach new highs in coming months.
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