Investors pumped Rs 1.2 trillion into various mutual fund schemes in January, after pulling out a massive Rs 62,000 crore in the preceding month, primarily on account of infusion in liquid and overnight schemes.
Mutual fund inflows will gather further momentum in the coming months, Union Asset Management Company CEO G Pradeepkumar said.
According to data by the Association of Mutual Funds in India (Amfi), net inflow of Rs 1.2 trillion was witnessed in mutual fund schemes last month as compared to an outflow of Rs 61,810 crore in December.
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NRIs to gain more than resident Indians from govt’s move to remove DDT
One of the major changes proposed by finance minister Nirmala Sitharaman in her second Union Budget relates to the taxation of dividends. The Budget has proposed to abolish the Dividend Distribution Tax (DDT), and moving to the classical system of taxing dividend in the hands of individuals.
Current situation: Currently, a domestic company is required to pay DDT at the rate of 15 per cent (plus applicable surcharge and health and education cess) on the dividends. Further, dividend income from a domestic company is tax-free up to Rs 10 lakh. Dividend in excess of Rs 10…
BSE equity derivatives turnover touches record high of Rs 7,591 cr
Turnover of S&P BSE Sensex futures and options touched a record high of Rs 7,591 crore on Tuesday, according to a release.
The previous high of Rs 5,251 crore was recorded on February 20.
“The implementation of interoperability clubbed with active participation from the members have led to increase in equity derivatives turnover on BSE. We thank all the members and look forward to constantly receiving their support,” BSE Chief Business Officer Sameer Patil was quoted as saying in the release.
PFC, IGIAT sign agreement to provide financial assistance…
Planning to apply for SBI Cards IPO? Check out the eligibility criteria
The initial public offer (IPO) of SBI Cards & Payments Services, India’s second largest credit card issuer, will open on March 2. The price band, according to reports, of the offer has been set at Rs 750-755 per equity share. The offer comprises a fresh issue worth Rs 500 crore and an offer for sale (OFS) of up to 130,526,798 equity shares. The bid lot for the offer has been finalised to be 19 equity shares and in multiples of 19 equity shares thereafter.
Here’re the details and offer break-up you need to know:
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Top stock ideas by Religare Broking: Buy Marico, Ujjivan Financial Services
Buy Marico Limited
Last Close: Rs 305.95
Initiation range: Rs 303-306
Target: Rs 325
Stop loss: Rs 296
MARICO has been witnessing correction for the last five months and is currently hovering around the support zone of the long-term moving average of 200 EMA on the weekly chart. Indications are in the favor of marginal consolidation followed by steady rebound ahead. We advise accumulating fresh longs as per the given levels.
Buy Ujjivan Financial Services Limited
Last Close: Rs 374.90
Initiation range: Rs 368-372
Target: Rs…
Road ahead for equity markets will be challenging, says Shyamsundar Bhat
With Wuhan-based coronavirus spreading fast outside mainland China, risks to global economies could become more pronounced in the next quarter at a time when the global growth is slowing. While the potentially slower global growth is being reflected in our debt market with yields trending lower, it has not yet been reflected in our equity market, SHYAMSUNDAR BHAT, chief investment officer of Exide Life Insurance, tells Nikita Vashisht. Edited excerpts:
The coronavirus outbreak is continuing to spook sentiment. Despite steps taken by China, the growth forecast for India and the rest of the world have been…
Stocks to watch: Bandhan Bank, OMCs, paint stocks, Wockhardt, India Cements
At 08:51 AM, Nifty futures on the Singapore Exchange (SGX) were trading 63 points or 0.53 per cent lower at 11,755, indicating a gap-down start for the Indian market on Wednesday.
Here’s a look at the stocks that may trade actively in today’s trading session-
Bandhan Bank: The Reserve Bank of India (RBI) has lifted the regulatory restriction on branch opening, subject to the condition that the Bank ensures that atleast 25 per cent of the total number of ‘Banking Outlets’ opened during a financial year are opened in unbanked…
Slowdown effect? Salary increase in 2020 may be lowest in a decade at 9.1{bce2ac57dae147ae13b811f47f24d80c66c6ab504b39dda4a9b6e8ac93725942}
The economic slowdown is beginning to reflect in the salary hikes of India Inc. The average salary increase in 2020 is projected to be 9.1 per cent, the lowest in a decade, according to the 24th edition of Aon Plc’s annual salary increase survey. In 2018 and 2019, companies increased average salary by 9.5 per cent and 9.3 per cent, respectively. After the financial crisis of 2008, the average hike had slumped to 6.6 per cent.
The projected increase for 2020 is lower than the average salary hike that graduates of top Business schools have managed…