- The document discusses FundsIndia rolling out a new user interface for its website that has received positive feedback.
- Over the next few months, FundsIndia will introduce new features like social features, improved fund searching, and customized reporting to make investing through their platform a more unique experience.
- The new interface provides a foundation to support these new functionalities being added.
Equity View:
Markets are moving into earnings season and initial results of few corporate entities seem good enough,
starting with Indusind Bank followed by Infosys. The numbers of these companies were expected to come
out well thus this outcome is not surprising from sectors like Private Sector Banks, IT, FMCG and Pharma
which are expected to perform well. There are few sectors like Capital Goods, Public Sector Banks and old
Infra Companies which can show subdued results. We expect domestic factors like government policies
to drive the market in absence of global cues. IIP data is set to come out today and is expected to be flat;
Inflation is also expected to be higher due to base effect.
Real estate markets have a cycle of around 5 – 7 years thus an off-take seems distant, however buying
could initiate after 2 – 3 years. A rate cut acts as a catalyst but it cannot help in a sudden pick-up of
demand.
There is always a trend and a counter trend in the movement of an asset class. We need to see the long
term trend. In commodities there is bearish long term trend so counter trend is bullish and thus,
currently we are seeing a counter trend in this asset. Similarly, if we have a bullish long term trend for
equity markets then from time to time there would be correction which is also happening now and this is
known as counter trend. The incremental savings of the government can either be used in the form of an
investment, subsidies or 7th Pay commission arrears. This definitely leads to correction in equity markets
but it doesn’t lead to bearish phase. If everyone is hopeful about the turnaround of Indian story and
economic revival then no one exits completely from the stock markets. Larger expectations are that
investments will certainly pick up and we all are hopeful about it.
News:
DOMESTIC MACRO:
Indirect tax collection rose 35.8% to over Rs. 3.24 lakh crore in the first half of the current fiscal.
Indirect tax collection in the period from April to September in the last fiscal stood at about Rs.
2.38 lakh crore.
The International Monetary Fund (IMF) in its latest World Economic Outlook has lowered India’s
growth forecast for FY16 to 7.3% from its July forecast of 7.5%. Growth is expected to bounce back
to 7.5% in 2016-17 on the back of reforms, pick-up in investments and lower commodity prices.
The Reserve Bank of India (RBI) will be increasing the investment limit for Foreign Portfolio
Investors (FPIs) in Government Securities to Rs. 1,79,500 crore by January 1 from the existing Rs.
1,53,500 crore.
The Cabinet approves a Railway Ministry proposal to pay bonus equivalent to 78 days’ pay, with a wage
ceiling of Rs 3500 a month.
Equity View:
The quarterly results which are coming out are in line with the expectations as we are now heading
towards stickier end of the result season approaching Diwali. Companies who have not performed well
may declare results between 7th Nov – 15th Nov, as the markets are on a holiday, so their results go
unnoticed. People must keep a close eye on how sectors like Infra, Capital Goods, Manufacturing and
Public Sector Banks will perform which will set the tone of the market.
In PSU banks, a lot of assets were restructured proactively in 2013 when new chairman’s of different PSU
banks took over. When banks restructure the assets once, then you cannot restructure again within 18
months. Thus, if that particular asset doesn’t become standard and start servicing interest and principal
then it has to be termed as NPA (Non Performing Asset). The problem is that restructured assets are not
being standard so it is better to stay away from PSU banks.
On the global front, Chinese central bank has cut their interest rate and European central bank has kept
interest rate at a very low level making things difficult for US Fed to take any action in December.
Inflation is low in US but if adjusted for food and energy prices then it is closer to US Fed’s target of 2%.
Unemployment rate of 5.1% is also near to US Fed’s target. So if they consider sentiments of Wall Street
then it might be a very difficult decision to make in December.
The recent Indian IIP numbers are good but we can see 3rd Quarter as a good one because festivals like
Dusshera and Diwali are little late as compared to previous year. Government may have a shortfall of
around 50,000 crore in tax collections and 30,000 crore in disinvestment plan so, 80,000 crore shortfall
means 0.6% of GDP. This may lead to cut down in capital expenditure.
Telecom sector typically is a value destroyer; it was a value creator till 2009 due to lack of proper
government policies. Since the scandal broke out, now major expenditure for telecom companies is
buying of spectrum. If a telecom company is having capex of 100 crore then entire 100 crore goes into
acquisition of spectrum and equipment cost is huge in this field. We also have to keep in mind that
equipment is suppose to be depreciate very fast because of obsolesce of technology. Hence, considering
all factors, return on capital employed in this sector is below 10%.
News:
DOMESTIC MACRO:
World Bank predicts that remittances to India will increase by 2.5% this year.
Foreign investors have pumped in over Rs 19,000 crore in the Indian capital markets in October so far - the
highest level in six months – backed by a rate cut by Reserve Bank of India (RBI) and positive macro
numbers.
Indians invested nearly $2 billion in the Dubai's real estate during the first half of this year.
International Journal of Business and Management Invention (IJBMI)inventionjournals
International Journal of Business and Management Invention (IJBMI) is an international journal intended for professionals and researchers in all fields of Business and Management. IJBMI publishes research articles and reviews within the whole field Business and Management, new teaching methods, assessment, validation and the impact of new technologies and it will continue to provide information on the latest trends and developments in this ever-expanding subject. The publications of papers are selected through double peer reviewed to ensure originality, relevance, and readability. The articles published in our journal can be accessed online.
MTBiz is for you if you are looking for contemporary information on business, economy and especially on banking industry of Bangladesh. You would also find periodical information on Global Economy and Commodity Markets.
Signature content of MTBiz is its Article of the Month (AoM), as depicted on Cover Page of each issue, with featured focus on different issues that fall into the wide definition of Market, Business, Organization and Leadership. The AoM also covers areas on Innovation, Central Banking, Monetary Policy, National Budget, Economic Depression or Growth and Capital Market. Scale of coverage of the AoM both, global and local subject to each issue.
MTBiz is a monthly Market Review produced and distributed by Group R&D, MTB since 2009.
FundsIndia's Investment Guide for the New Age ProfessionalFundsIndia.com
Are you new to the world of investments? Or are you simply looking for tips to make the most of your investments? Whatever be your query, FundsIndia's Investment Guide for the New Age Professional will answer all that for you. With a foreword by Narayana Murthy, you will learn how to create wealth, beat inflation, and other tips and tricks to smart investing.
Equity View:
Markets are moving into earnings season and initial results of few corporate entities seem good enough,
starting with Indusind Bank followed by Infosys. The numbers of these companies were expected to come
out well thus this outcome is not surprising from sectors like Private Sector Banks, IT, FMCG and Pharma
which are expected to perform well. There are few sectors like Capital Goods, Public Sector Banks and old
Infra Companies which can show subdued results. We expect domestic factors like government policies
to drive the market in absence of global cues. IIP data is set to come out today and is expected to be flat;
Inflation is also expected to be higher due to base effect.
Real estate markets have a cycle of around 5 – 7 years thus an off-take seems distant, however buying
could initiate after 2 – 3 years. A rate cut acts as a catalyst but it cannot help in a sudden pick-up of
demand.
There is always a trend and a counter trend in the movement of an asset class. We need to see the long
term trend. In commodities there is bearish long term trend so counter trend is bullish and thus,
currently we are seeing a counter trend in this asset. Similarly, if we have a bullish long term trend for
equity markets then from time to time there would be correction which is also happening now and this is
known as counter trend. The incremental savings of the government can either be used in the form of an
investment, subsidies or 7th Pay commission arrears. This definitely leads to correction in equity markets
but it doesn’t lead to bearish phase. If everyone is hopeful about the turnaround of Indian story and
economic revival then no one exits completely from the stock markets. Larger expectations are that
investments will certainly pick up and we all are hopeful about it.
News:
DOMESTIC MACRO:
Indirect tax collection rose 35.8% to over Rs. 3.24 lakh crore in the first half of the current fiscal.
Indirect tax collection in the period from April to September in the last fiscal stood at about Rs.
2.38 lakh crore.
The International Monetary Fund (IMF) in its latest World Economic Outlook has lowered India’s
growth forecast for FY16 to 7.3% from its July forecast of 7.5%. Growth is expected to bounce back
to 7.5% in 2016-17 on the back of reforms, pick-up in investments and lower commodity prices.
The Reserve Bank of India (RBI) will be increasing the investment limit for Foreign Portfolio
Investors (FPIs) in Government Securities to Rs. 1,79,500 crore by January 1 from the existing Rs.
1,53,500 crore.
The Cabinet approves a Railway Ministry proposal to pay bonus equivalent to 78 days’ pay, with a wage
ceiling of Rs 3500 a month.
Equity View:
The quarterly results which are coming out are in line with the expectations as we are now heading
towards stickier end of the result season approaching Diwali. Companies who have not performed well
may declare results between 7th Nov – 15th Nov, as the markets are on a holiday, so their results go
unnoticed. People must keep a close eye on how sectors like Infra, Capital Goods, Manufacturing and
Public Sector Banks will perform which will set the tone of the market.
In PSU banks, a lot of assets were restructured proactively in 2013 when new chairman’s of different PSU
banks took over. When banks restructure the assets once, then you cannot restructure again within 18
months. Thus, if that particular asset doesn’t become standard and start servicing interest and principal
then it has to be termed as NPA (Non Performing Asset). The problem is that restructured assets are not
being standard so it is better to stay away from PSU banks.
On the global front, Chinese central bank has cut their interest rate and European central bank has kept
interest rate at a very low level making things difficult for US Fed to take any action in December.
Inflation is low in US but if adjusted for food and energy prices then it is closer to US Fed’s target of 2%.
Unemployment rate of 5.1% is also near to US Fed’s target. So if they consider sentiments of Wall Street
then it might be a very difficult decision to make in December.
The recent Indian IIP numbers are good but we can see 3rd Quarter as a good one because festivals like
Dusshera and Diwali are little late as compared to previous year. Government may have a shortfall of
around 50,000 crore in tax collections and 30,000 crore in disinvestment plan so, 80,000 crore shortfall
means 0.6% of GDP. This may lead to cut down in capital expenditure.
Telecom sector typically is a value destroyer; it was a value creator till 2009 due to lack of proper
government policies. Since the scandal broke out, now major expenditure for telecom companies is
buying of spectrum. If a telecom company is having capex of 100 crore then entire 100 crore goes into
acquisition of spectrum and equipment cost is huge in this field. We also have to keep in mind that
equipment is suppose to be depreciate very fast because of obsolesce of technology. Hence, considering
all factors, return on capital employed in this sector is below 10%.
News:
DOMESTIC MACRO:
World Bank predicts that remittances to India will increase by 2.5% this year.
Foreign investors have pumped in over Rs 19,000 crore in the Indian capital markets in October so far - the
highest level in six months – backed by a rate cut by Reserve Bank of India (RBI) and positive macro
numbers.
Indians invested nearly $2 billion in the Dubai's real estate during the first half of this year.
International Journal of Business and Management Invention (IJBMI)inventionjournals
International Journal of Business and Management Invention (IJBMI) is an international journal intended for professionals and researchers in all fields of Business and Management. IJBMI publishes research articles and reviews within the whole field Business and Management, new teaching methods, assessment, validation and the impact of new technologies and it will continue to provide information on the latest trends and developments in this ever-expanding subject. The publications of papers are selected through double peer reviewed to ensure originality, relevance, and readability. The articles published in our journal can be accessed online.
MTBiz is for you if you are looking for contemporary information on business, economy and especially on banking industry of Bangladesh. You would also find periodical information on Global Economy and Commodity Markets.
Signature content of MTBiz is its Article of the Month (AoM), as depicted on Cover Page of each issue, with featured focus on different issues that fall into the wide definition of Market, Business, Organization and Leadership. The AoM also covers areas on Innovation, Central Banking, Monetary Policy, National Budget, Economic Depression or Growth and Capital Market. Scale of coverage of the AoM both, global and local subject to each issue.
MTBiz is a monthly Market Review produced and distributed by Group R&D, MTB since 2009.
FundsIndia's Investment Guide for the New Age ProfessionalFundsIndia.com
Are you new to the world of investments? Or are you simply looking for tips to make the most of your investments? Whatever be your query, FundsIndia's Investment Guide for the New Age Professional will answer all that for you. With a foreword by Narayana Murthy, you will learn how to create wealth, beat inflation, and other tips and tricks to smart investing.
Jenis - Jenis Perubahan Hutan (Pengetahuan Lingkungan) by Muhammad KennedyMuhammad Kennedy Ginting
Jenis - Jenis Perubahan Hutan merupakan salah satu materi dalam mata kuliah Pengetahuan Lingkungan. Disini akan membahas tentang lignkungan pada saat sekarang.
Past month has been a
volatile month for
Indian Equity Market !
‘Why India will be third world’s largest economy in next 10 Years?
shift of orders from China and
even Europe.
Factsheet for Axis Mutual Fund- WishfinAnvi Sharma
The scheme aims to generate regular long term capital growth from a diversified portfolio of equity and equity related securities. The Scheme Will invest in companies with strong growth & a sustainable business model.
Wallet4wealth newsletter-jan-2022. In this news letter we have highlighted Union Budget 2022, Inspiring case stories, 5 must do SIPs for 2022, Market indicators etc. Finance minister Nirmala Sitharaman presented her Budget which was based on 7 key priorities.
PM Gati Shakti master plan
Inclusive development
Productivity enhancement
Sunrise opportunities
Energy Transition
Climate Action
Financing of Investments
PM Gati Shakti master plan
Inclusive development
Productivity enhancement
Sunrise opportunities
Energy Transition
Climate Action
Financing of Investments
INFLATION
FISCAL DEFICIT
Knight Frank India Real Estate (Jan-June 2017) ReportD Murali ☆
Knight Frank India Real Estate (Jan-June 2017) Report
Knight Frank-17H1
Kanchana Krishnan, Knight Frank on 17H1 January-June 2017 India Real Estate
(Residential, office)
Blog post link: http://bit.ly/2upCz7K
With ‘Buy Today Sell Tomorrow® (BTST® )’ you can get the incredible advantage of selling the stocks that you have bought on the previous day. That’s right, you no longer need to wait for the receipt of your shares into your demat account.
A smart and simple way to accumulate gold systematically in RMGP - a revolutionary new plan that less you buy gold in an easy and systematic way in small amounts!
3.0 Project 2_ Developing My Brand Identity Kit.pptxtanyjahb
A personal brand exploration presentation summarizes an individual's unique qualities and goals, covering strengths, values, passions, and target audience. It helps individuals understand what makes them stand out, their desired image, and how they aim to achieve it.
VAT Registration Outlined In UAE: Benefits and Requirementsuae taxgpt
Vat Registration is a legal obligation for businesses meeting the threshold requirement, helping companies avoid fines and ramifications. Contact now!
https://viralsocialtrends.com/vat-registration-outlined-in-uae/
What is the TDS Return Filing Due Date for FY 2024-25.pdfseoforlegalpillers
It is crucial for the taxpayers to understand about the TDS Return Filing Due Date, so that they can fulfill your TDS obligations efficiently. Taxpayers can avoid penalties by sticking to the deadlines and by accurate filing of TDS. Timely filing of TDS will make sure about the availability of tax credits. You can also seek the professional guidance of experts like Legal Pillers for timely filing of the TDS Return.
Digital Transformation and IT Strategy Toolkit and TemplatesAurelien Domont, MBA
This Digital Transformation and IT Strategy Toolkit was created by ex-McKinsey, Deloitte and BCG Management Consultants, after more than 5,000 hours of work. It is considered the world's best & most comprehensive Digital Transformation and IT Strategy Toolkit. It includes all the Frameworks, Best Practices & Templates required to successfully undertake the Digital Transformation of your organization and define a robust IT Strategy.
Editable Toolkit to help you reuse our content: 700 Powerpoint slides | 35 Excel sheets | 84 minutes of Video training
This PowerPoint presentation is only a small preview of our Toolkits. For more details, visit www.domontconsulting.com
Premium MEAN Stack Development Solutions for Modern BusinessesSynapseIndia
Stay ahead of the curve with our premium MEAN Stack Development Solutions. Our expert developers utilize MongoDB, Express.js, AngularJS, and Node.js to create modern and responsive web applications. Trust us for cutting-edge solutions that drive your business growth and success.
Know more: https://www.synapseindia.com/technology/mean-stack-development-company.html
Putting the SPARK into Virtual Training.pptxCynthia Clay
This 60-minute webinar, sponsored by Adobe, was delivered for the Training Mag Network. It explored the five elements of SPARK: Storytelling, Purpose, Action, Relationships, and Kudos. Knowing how to tell a well-structured story is key to building long-term memory. Stating a clear purpose that doesn't take away from the discovery learning process is critical. Ensuring that people move from theory to practical application is imperative. Creating strong social learning is the key to commitment and engagement. Validating and affirming participants' comments is the way to create a positive learning environment.
Affordable Stationery Printing Services in Jaipur | Navpack n PrintNavpack & Print
Looking for professional printing services in Jaipur? Navpack n Print offers high-quality and affordable stationery printing for all your business needs. Stand out with custom stationery designs and fast turnaround times. Contact us today for a quote!
Cracking the Workplace Discipline Code Main.pptxWorkforce Group
Cultivating and maintaining discipline within teams is a critical differentiator for successful organisations.
Forward-thinking leaders and business managers understand the impact that discipline has on organisational success. A disciplined workforce operates with clarity, focus, and a shared understanding of expectations, ultimately driving better results, optimising productivity, and facilitating seamless collaboration.
Although discipline is not a one-size-fits-all approach, it can help create a work environment that encourages personal growth and accountability rather than solely relying on punitive measures.
In this deck, you will learn the significance of workplace discipline for organisational success. You’ll also learn
• Four (4) workplace discipline methods you should consider
• The best and most practical approach to implementing workplace discipline.
• Three (3) key tips to maintain a disciplined workplace.
RMD24 | Retail media: hoe zet je dit in als je geen AH of Unilever bent? Heid...BBPMedia1
Grote partijen zijn al een tijdje onderweg met retail media. Ondertussen worden in dit domein ook de kansen zichtbaar voor andere spelers in de markt. Maar met die kansen ontstaan ook vragen: Zelf retail media worden of erop adverteren? In welke fase van de funnel past het en hoe integreer je het in een mediaplan? Wat is nu precies het verschil met marketplaces en Programmatic ads? In dit half uur beslechten we de dilemma's en krijg je antwoorden op wanneer het voor jou tijd is om de volgende stap te zetten.
Unveiling the Secrets How Does Generative AI Work.pdfSam H
At its core, generative artificial intelligence relies on the concept of generative models, which serve as engines that churn out entirely new data resembling their training data. It is like a sculptor who has studied so many forms found in nature and then uses this knowledge to create sculptures from his imagination that have never been seen before anywhere else. If taken to cyberspace, gans work almost the same way.
Skye Residences | Extended Stay Residences Near Toronto Airportmarketingjdass
Experience unparalleled EXTENDED STAY and comfort at Skye Residences located just minutes from Toronto Airport. Discover sophisticated accommodations tailored for discerning travelers.
Website Link :
https://skyeresidences.com/
https://skyeresidences.com/about-us/
https://skyeresidences.com/gallery/
https://skyeresidences.com/rooms/
https://skyeresidences.com/near-by-attractions/
https://skyeresidences.com/commute/
https://skyeresidences.com/contact/
https://skyeresidences.com/queen-suite-with-sofa-bed/
https://skyeresidences.com/queen-suite-with-sofa-bed-and-balcony/
https://skyeresidences.com/queen-suite-with-sofa-bed-accessible/
https://skyeresidences.com/2-bedroom-deluxe-queen-suite-with-sofa-bed/
https://skyeresidences.com/2-bedroom-deluxe-king-queen-suite-with-sofa-bed/
https://skyeresidences.com/2-bedroom-deluxe-queen-suite-with-sofa-bed-accessible/
#Skye Residences Etobicoke, #Skye Residences Near Toronto Airport, #Skye Residences Toronto, #Skye Hotel Toronto, #Skye Hotel Near Toronto Airport, #Hotel Near Toronto Airport, #Near Toronto Airport Accommodation, #Suites Near Toronto Airport, #Etobicoke Suites Near Airport, #Hotel Near Toronto Pearson International Airport, #Toronto Airport Suite Rentals, #Pearson Airport Hotel Suites
Memorandum Of Association Constitution of Company.pptseri bangash
www.seribangash.com
A Memorandum of Association (MOA) is a legal document that outlines the fundamental principles and objectives upon which a company operates. It serves as the company's charter or constitution and defines the scope of its activities. Here's a detailed note on the MOA:
Contents of Memorandum of Association:
Name Clause: This clause states the name of the company, which should end with words like "Limited" or "Ltd." for a public limited company and "Private Limited" or "Pvt. Ltd." for a private limited company.
https://seribangash.com/article-of-association-is-legal-doc-of-company/
Registered Office Clause: It specifies the location where the company's registered office is situated. This office is where all official communications and notices are sent.
Objective Clause: This clause delineates the main objectives for which the company is formed. It's important to define these objectives clearly, as the company cannot undertake activities beyond those mentioned in this clause.
www.seribangash.com
Liability Clause: It outlines the extent of liability of the company's members. In the case of companies limited by shares, the liability of members is limited to the amount unpaid on their shares. For companies limited by guarantee, members' liability is limited to the amount they undertake to contribute if the company is wound up.
https://seribangash.com/promotors-is-person-conceived-formation-company/
Capital Clause: This clause specifies the authorized capital of the company, i.e., the maximum amount of share capital the company is authorized to issue. It also mentions the division of this capital into shares and their respective nominal value.
Association Clause: It simply states that the subscribers wish to form a company and agree to become members of it, in accordance with the terms of the MOA.
Importance of Memorandum of Association:
Legal Requirement: The MOA is a legal requirement for the formation of a company. It must be filed with the Registrar of Companies during the incorporation process.
Constitutional Document: It serves as the company's constitutional document, defining its scope, powers, and limitations.
Protection of Members: It protects the interests of the company's members by clearly defining the objectives and limiting their liability.
External Communication: It provides clarity to external parties, such as investors, creditors, and regulatory authorities, regarding the company's objectives and powers.
https://seribangash.com/difference-public-and-private-company-law/
Binding Authority: The company and its members are bound by the provisions of the MOA. Any action taken beyond its scope may be considered ultra vires (beyond the powers) of the company and therefore void.
Amendment of MOA:
While the MOA lays down the company's fundamental principles, it is not entirely immutable. It can be amended, but only under specific circumstances and in compliance with legal procedures. Amendments typically require shareholder
The world of search engine optimization (SEO) is buzzing with discussions after Google confirmed that around 2,500 leaked internal documents related to its Search feature are indeed authentic. The revelation has sparked significant concerns within the SEO community. The leaked documents were initially reported by SEO experts Rand Fishkin and Mike King, igniting widespread analysis and discourse. For More Info:- https://news.arihantwebtech.com/search-disrupted-googles-leaked-documents-rock-the-seo-world/
Search Disrupted Google’s Leaked Documents Rock the SEO World.pdf
Capital letter Mar'12 - Fundsindia
1. CAPITAL LETTER
LETTER
Volume 4 March 06, 2012 Issue 03
“Making the FundsIndia experience more unique and enriching ”
Greetings from FundsIndia!
As we promised in our last month's newsletter and as many of you may have noticed, we have rolled out a
new user interface for FundsIndia.com. The feedback that we have received has been overwhelmingly posi-tive
with many people appreciating the clean and more professional look of the new lay out. The few nega-tive
feedbacks have been regarding specific functionality or specific device/browser scenarios. We are
working out some of these issues and are positive that we will be able to set it right within a week or so.
The main reason for the UI change, apart from giving the site a professional look, is to make sure that there is a consistency
of appearance across the platform. This new interface gives us the opportunity to do more interesting things with the soft-ware
in terms of functionality as well.
Over the next few weeks/months, our customers will see new features and functionalities that will make investing with
FundsIndia an easier and a more enjoyable experience. Some of these include more social features, a better interface to
search and select mutual funds, more in-depth, customized reporting options, and support for more devices and interfaces.
In combination, these additions will make investing through FundsIndia a more unique and enriching experience than ever
before.
We wanted to roll out the new interface before we started work on these new features since the new interface provides us a
solid foundation that can handle the complex needs of these new functionalities.
In other news, it is budget time in the country, and we, along with all of you, are looking forward (with some trepidation,
this time around) to what the money mandarins come out with on March 16. Will all the questions regarding DTC, exemp-tions,
ELSS, deductions etc will find a fair and clear answer? One can only hope...
Happy Investing!
Srikanth Meenakshi
Disclaimer: Mutual Fund Investments are subject to market risks. Please read all scheme related documents carefully before investing.
2. Disclaimer: Mutual Fund Investments are subject to market risks. Please read all scheme related documents carefully before investing.
3. Get upto Rs.1,20,000 exempted from your Income-tax when
You invest in ELSS Mutual Fund schemes and Infrastructure Bonds!
Why tax saving mutual funds?
1. Get upto Rs.1,00,000 exempted from tax under section 80cc.
2. Lowest lock-in period - just 3 years - of all tax saving investments.
3. 100% equity market exposure - best return potential of all investment classes
4. Easy and free - no demat account required, no entry load, no transaction fees to invest
So, tax saving mutual funds are easy to invest in, offer the best return potential, and has the lowest lock-in
period of all tax saving investments!
For example, if you had invested Rs. 20,000 in HDFC Tax Saver fund (one of our current recommended
funds) in the year 2008, not only would you have saved upto Rs. 6000 in taxes in the same year, your invest-ments
would have grown to Rs. 30,592 now (*as of September 22, 2011) - an annual return of 15.22%! .
What's more, the profit of Rs. 10,592 would be tax free as well!
Why infrastructure bonds?
1.Get an additional Rs.20,000 exempted from your income-tax (under section 80ccf)
2.Attractive interest rates
3.Can be acquired in physical form or by using your existing demat account
Click here to start investing now! - https://www.fundsindia.com/tax-saving-investment
Deposits from ‘Top rated Companies’
Company Name Rating 1 Year 2 Year 3 year
HDFC LIMITED FAAAA 9.5% 9.65% 9.75%
ICICI HOME FINANCE COMPANY LIMITED MAAA 8.25% 8.75% 8.75%
LIC HOUSING FINANACE LTD FAAA 7.0% 7.4% 7.65%
MAHINDRA AND MAHINDRA FAAA 9.5% 10% 10.25%
SHRIRAM TRANSPORT FINANCE CO.LTD TAA 9.25% 9.75% 10.75%
DHFL AA+ 10.5% 10.5% 10.5%
Disclaimer: Mutual Fund Investments are subject to market risks. Please read all scheme related documents carefully before investing.
4. Silver Linings in 2012
BY SANJAY KUMAR SINGH
As 2011 draws to a close, the economic outlook appears gloomy. Growth is slowing down: with luck the economy may clock a
growth rate of 7 per cent in FY12, quite a comedown from the 8.5 per cent rate notched up in FY11. Manufacturing has been badly
hit, as the lIP (index of industrial production) figure of -5.1 per cent for October brought home starkly. Private investment has
been on the decline ever since the 2008 crisis. Now private consumption too is faltering, owing to high inflation (that reduces
purchasing power), high interest rates, and a weak job market in urban areas. Government spending, the mainstay of GDP growth
since the credit crisis, is also bound to decline in future, since the government’s revenues have taken a knocking amid slowing
growth. Moreover, it will perforce have to curtail spending in order to rein in its fiscal deficit. Against such a backdrop, to get dis-pirited
about the economy’s prospects would be natural. However, a closer look reveals a few silver linings.
High inflation has been the economy’s biggest bugbear for the last two years (last 21-month WPI average: 9.7 per cent). But De-cember
onwards inflation is expected to begin softening. The Reserve Bank of India (RBI) expects it to abate to 7 per cent by
March 2012, while economists at Goldman Sachs expect it to average 5 per cent in FY13. Several factors will contribute to this
softening: the high base of 2011; softening of commodity prices due to weak global growth; lower food inflation due to a good
monsoon in 2011, and lower inflation in protein-based foods due to a cyclical improvement in supply.
If inflation softens, can interest-rate cuts be far behind? With growth decelerating rapidly, the central bank will be forced to re-verse
its policy stance. Rate cuts could commence as early as January or latest by the middle of 2012. How early rate cuts begin,
and how aggressively they are undertaken will determine how quickly the Indian economy shakes off its growth blues. Falling
interest rates will provide a fillip both to private consumption and private investment (though in case of the latter, policy initia-tives
and improvement in economic outlook will also be called for). Even equity markets could rally in anticipation of a reversal in
the interest-rate cycle.
The Indian rupee has depreciated sharply in recent months owing to India’s current account deficit, capital outflows, and lack of
fresh inflows. While the rupee’s depreciation will make imports more expensive, it will also enhance India’s export competitive-ness,
which the country will be able to capitalise on once global demand revives.
Among the two major international trouble spots, US and Europe, economic data from the former indicates that its economy has
stabilised to some degree in recent months. In Q3 2011 its GDP grew 2 per cent (revised downward from the initial 2.5 per cent),
an improvement over the 1.3 per cent growth in Q2 and 0.4 per cent in Q1. The consumer confidence index is up, the unemploy-ment
rate has tapered downward to 8.6 per cent (from 9.2 per cent in July 2011), and jobless claims have also fallen.
On the policy front, the Indian government has indeed disappointed. Sectors like mining, infrastructure and capital goods have
borne the brunt of delays in project approvals. After the government’s decision to hold in abeyance its decision to open up the
retail sector further to FDI, doubts have arisen about its willingness and ability to push through long-pending reforms. Will the
Goods and Services Tax (GST) and the Direct Tax Code (DTC) be implemented in 2012? Will the Land Acquisition Bill, the Min-eral
and Mining Bill, and the Company Amendment Bill receive Parliament’s approval? None can vouch for these reforms. In view
of the xenophobic outpourings of the political class in the debate on FDI in retail, it is doubtful if proposals to raise the FDI limit
in insurance or to allow foreign players into the education sector will receive the Parliament’s approval anytime soon. However,
even on the reforms front there is room for optimism. Though the centre’s record will at best remain patchy, states like Gujarat,
Tamil Nadu and Bihar have initiated their own reforms. This is cause for celebration.
Overall, in 2012 (or FY13), the economy may not fare much worse than in 2011 (unless new risks appear), so undue pessimism
about its prospects is unwarranted. But it is unlikely to fare much better either. Which raises the question: will the around 7 per
cent growth rate (the current estimate by private-sector economists for both FY12 and FY13) suffice to meet the aspirations of an
increasingly ambitious middle class that has tasted 8 per cent trend growth and knows it is achievable, if only the quality of gov-ernance
were to improve?
Misplaced ardour
Indians’ excessive lust for gold is neither in their nor the country’s interest
John Maynard Keynes, the economist who revolutionised his subject with the idea that governments should undertake counter-cyclical
spending to pull economies out of recession, once referred to Indians’ fondness for gold as the “the ruinous love of a bar-baric
relic”. His words ring true even today.
Disclaimer: Mutual Fund Investments are subject to market risks. Please read all scheme related documents carefully before investing.
5. India remains the world’s largest consumer of gold. Indian households hold a cumulative 18,000
tonnes, which amount to 11 per cent of the total global stock. In 2010 India’s volume of gold consumed rose 72 per cent year-on-year.
And despite prices reining high, consumption is up 5 per cent in the first three quarters of 2011.
In normal circumstances, Indians’ lust for the yellow metal would evoke neither comment nor worry. But these are not ordinary
times. India, which consistently runs a current account deficit, depends on capital flows from abroad to fund the deficit. The on-going
crisis in the developed world has heightened risk aversion and led to capital outflows. How to fund a current account deficit
of the order of 2.6 per cent of GDP (the figure for FY11, which could escalate to 3 per cent plus in FY12) has now become a source
of worry.
Gold is India’s third-largest import item after crude oil and engineering goods. Remove gold from its list of imports and its cur-rent
account remains negative, but shrinks to a much less intimidating -1.2 per cent of GDP (for FY11). By raising the country’s
dollar needs, India’s gold lust is one of the factors responsible for the recent sharp depreciation of the rupee.
Even from a personal finance point of view, excessive allocation to gold in a portfolio is not wise. Most financial planners suggest
limiting exposure to 5-8 per cent. It may be argued that over the last 10 years the cumulative returns from gold have topped 500
per cent. Over the past five years returns from gold have beaten equity returns handsomely. But that’s because global growth has
been wobbly since 2008, and central banks have been printing money to jumpstart growth. Gold does well in such circumstances
– when the economic climate is adverse, inflation reins high, and faith in paper currencies is low.
Like all asset classes gold too witnesses booms and busts. The only difference is that commodity cycles are much longer lasting
than those of equities. Granted that gold may continue to outperform equities in the near future, given the likelihood of sluggish
global growth for a couple of years or more. But gold’s already long bull run suggests that it may now be closer to the peak of its
cycle than the bottom. Being overweight on the yellow metal at this stage is fraught with risk.
Furthermore, investments made in physical gold rather than in a financial instrument can’t be channelled into productive uses,
say, for investment by either the government or a corporate. And all that an investor earns from this inert metal is capital gains; it
pays no dividends.
So while gold may be a good investment for diversifying a portfolio and for providing a hedge against inflation, carrying this lust
too far is neither in investors’ nor this country’s long-term interest.
Article is available online at: http://www.valueresearchonline.com/story/h2_storyview.asp?str=18945
Disclaimer: Mutual Fund Investments are subject to market risks. Please read all scheme related documents carefully before investing.
6. Simplicity goes a step Backwards
BY DHIRENDRA KUMAR
As is customary at this time of the year, the last few weeks have seen a lot of speculation about what
changes the budget will bring to personal income tax and consequently to people’s savings behaviour.
This year, the speculation has been a little more intense, as well as a little more complex because of a
set of special circumstances. The first among these is the postponement, by yet another year, of the
new Direct Tax Code. Another is, obviously, the government’s need to grow its tax revenues strongly.
And the third seems to be the need for a variety of entities to somehow increase the quantum of invest-ments
that they get out of the pool of tax-saving investments. The last ranges from banks to, and in an
apparent (but not real) paradox, the government itself. And then there is the political process, in the
shape of the parliamentary standing committee, that has a set of recommendations on the tax exemp-tions
and the DTC.
The suggestions on view cover a large range. The banks want that the lock-in for tax-saving fixed deposits should be reduced from
five to three years. A lot of people seem to think that the limit on tax-exempt (actually, tax-deferred) infrastructure bonds should
be raised, perhaps drastically. There is of course, the annual clamour for changing the various limits, slabs and rates so that less
tax should be paid. Moreover, the government seems acutely aware of the fact that increasing the inflows into the savings schemes
that it runs is imperative. It’s amply clear that in an immediate sense, giving tax-exemptions which flow into its savings schemes is
a positive for the government.
By themselves, every one of these has its own logic. The need to bridge the fiscal deficit is definitely serious. The need to chan-nelising
savings to infrastructure can hardly be ignored. That of moving the limits and slabs at least in line with inflation is also
undeniable. And I’ve no doubt that some—or perhaps even many of these measures may well see the light of day on budget day.
However, something very important is getting lost in all this activity. One is the simplicity and conceptual clarity that we seemed
to be heading towards. Between the Kelkar Committee recommendations on in 2004 and the first draft of the Direct Tax Code in
2009, it really did seem that we would eventually be rid of the year-to-year ad-hocism in the personal tax and savings landscape.
However, that appears to be a distant dream now. We seem to be stuck in a situation where every year’s taxation measures is a
band-aid designed to cover the part that’s hurting the most right now.
However, there’s another, deeper problem that’s there. The entire structure is geared towards guiding savers long-term savings
into fixed-income investments. Part of this problem is cultural but a big part of this is definitely driven by the nature of the instru-ments
that are available. For example, the fixed-income PPF is a 15-year investment and the equity-based ELSS has a three-year
horizon. How one wishes it had been the other way around for the last two decades! The kind of returns that people would have
got from equity would have led to an amazing behavioural transformation. As things stand, the only hope for this is that the New
Pension System undergoes a revival.
Anyhow, in the current crisis situation, there’s little reason to hope for a sudden turn away from short-term problems and towards
a simple and clear system. Any such move would probably carry too much revenue risks for the government to take now. However,
the DTC is now slated to finally become the law next year. When (if?) that happens, it will be a big step towards that simplicity.
Hopefully, there won’t be any more dilution in its basic principles between now and when it finally sees the light of day.
-Syndicated from Value Research Online
Article is available online at: http://www.valueresearchonline.com/story/h2_storyview.asp?str=19184
17, RMG Complex,
TVK Industrial Estate,
Guindy, Chennai 600032
Tamil Nadu, India
Phone: 044-4344 3100
E-mail: contact@fundsindia.com
Disclaimer: Mutual Fund Investments are subject to market risks. Please read all scheme related documents carefully before investing.