| Worldwide, the Mutual Fund, or Unit Trust as it is called in some parts of the world, has a long and successfulhistory. The popularity of the Mutual Fund has increased manifold. In developed financial markets, like the United States, Mutual Funds have almost overtaken bank deposits and total assets of insurance funds. As of date, in the US alone there are over 5,000 Mutual Funds with total assets of over US $ 3 trillion (Rs. 100 lakh crores). In India,the Mutual Fund industry started with the setting up of Unit Trust of India in 1964. Public sector banks and financial institutions began to establish Mutual Funds in 1987. The private sector and foreign institutions were allowed to set up Mutual Funds in 1993. Today, there are 36 Mutual Funds and over 200 schemes with total assets of approximately Rs. 81,000 crores. This fast growing industry is regulated by the Securities and Exchange Board of India (SEBI). |
| What is a mutual fund? |
| What are the types of mutual fund schemes? |
| Why should you invest in mutual funds? |
| How do you understand and manage risk? |
| How to invest in mutual funds? |
| What are your rights as a mutual fund unitholder? |
BSE News
Friday, June 6, 2008
Company Profile :Reliance Power Limited
Reliance Power Ltd
| Incorporation Year | 1995 |
| Registered Office | H Block First Floor, Dhirubhai Ambani KnowledgeCity, Navi Mumbai - 400710, Maharashtra |
| Telephone | 91-22-30386010/290 |
| Fax | 91-22-30376622/33 |
| Industry | Power Generation And Supply |
| House | Anil Ambani |
| Chairman | Anil Dhirubhai Ambani |
| Managing Director | |
| Company Secretary | Paresh Rathod |
| Auditor | Chaturvedi & Shah / Price Waterhouse |
| Face Value | 10 |
| Market Lot | 1 |
| Listing | Mumbai, NSE |
| Registrar | Karvy Computershare Pvt Ltd Plot No 17-24, Vittal Rao Nagar, Madhapur, Hyderabad-500081 |
Inflation at all time high 8.24 %
Inflation shows no signs of easing, further increasing the woes for the common man. India's inflation rate rose to 8.24%, official data showed on Friday.
The annual inflation rate rose to 8.24% per cent for the week ended May 24, up from 8.1 per cent in the previous week, according to the Wholesale Price Index. The average inflation figures for the week ended May 24 was seen at 8.36 per cent, according to an NDTV poll.
The latest inflation figures are close to the highest mark seen during the UPA regime. According to the provisional figures, the annual inflation rate for the week ended August 28, 2004, was 8.33 per cent.
The inflation figures are likely to further go up. Inflation numbers in India come in with a lag of around two weeks. The impact of the oil price hike would get reflected in the data released on June 20.
The recent oil price hike would increase inflation by 50 bps in near term, said Montek Singh Ahluwalia, deputy chairman of Planning Commission. However, he expressed optimism that inflation would soften in four months.
The finance minister, P Chidambaram, recently said that that food inflation would moderate on record procurement of wheat and rice. But he warned that global crude and commodity prices would continue to play a big role in cooling the overall prices.
The annual inflation rate rose to 8.24% per cent for the week ended May 24, up from 8.1 per cent in the previous week, according to the Wholesale Price Index. The average inflation figures for the week ended May 24 was seen at 8.36 per cent, according to an NDTV poll.
The latest inflation figures are close to the highest mark seen during the UPA regime. According to the provisional figures, the annual inflation rate for the week ended August 28, 2004, was 8.33 per cent.
The inflation figures are likely to further go up. Inflation numbers in India come in with a lag of around two weeks. The impact of the oil price hike would get reflected in the data released on June 20.
The recent oil price hike would increase inflation by 50 bps in near term, said Montek Singh Ahluwalia, deputy chairman of Planning Commission. However, he expressed optimism that inflation would soften in four months.
The finance minister, P Chidambaram, recently said that that food inflation would moderate on record procurement of wheat and rice. But he warned that global crude and commodity prices would continue to play a big role in cooling the overall prices.
Petrol Prices after hike
Petrol and diesel price will be reduced by about Re one per litre and Rs 0.50, respectively, if states agree to forego incremental sales tax revenues they stand to earn on this week's fuel price hike.
States like Andhra Pradesh, Kerala, Karnataka, Punjab and Uttar Pradesh stand to gain over a rupee in sales tax on every litre of petrol sold and over Rs 0.50 on diesel after this week's Rs 5 and Rs 3 hike in the two auto fuel prices.
Petroleum Minister Murli Deroa yesterday wrote to chief ministers of 30 states and union territories asking them to "at least forego the incremental tax" revenues so as to ease the burden of spike in international oil prices on common consumers. "It is the duty of both Central and State Governments to provide maximum relief to the consumers.
(while) the Central Government is contributing over Rs 120,000 crore, it is also expected that the state governments will not lag behind in helping the consumers in sharing their burden," he wrote. Centre has cut customs and excise duties on crude oil and products to protect consumers.
Foregoing the incremental sales tax revenues will not in any way impact the state earnings. Andhra Pradesh, which has the highest sales tax of 33 and 22.
25 per cent on petrol and diesel, is earning Rs 1.38 and Rs 0.
59 a litre extra. In Mumbai that has a sales tax of 30.
64 and 28 per cent, incremental revenue will be Rs 1.17 and Rs 0.
75 respectively. Akali Dal-BJP ruled Punjab levies a 31.
68 per cent sales tax on petrol and will earn Rs 1.16 per litre more sales tax.
So far, West Bengal, Bihar and Tamil Nadu have cut sales tax on the two fuel to minimise the June 4 hike. PTI.
IPO Archidply Industries Ltd
Archidply Industries Ltd
Regitered Office : 29/2 G K Manor 1st Floor, Nehru Nagar Circle, Bangalore - 560020, Karnataka, India
Phone : 91-80-23445607 Fax : 91-80-23348463
Email : ipo@archidply.com Website : www.archidply.com
Regitered Office : 29/2 G K Manor 1st Floor, Nehru Nagar Circle, Bangalore - 560020, Karnataka, India
Phone : 91-80-23445607 Fax : 91-80-23348463
Email : ipo@archidply.com Website : www.archidply.com
| Public issue of 66,15,720 equity shares of Rs.10/- each for cash at a price of Rs.[*] per equity share (including a share premium of Rs.[*] per equity share) aggregating to Rs.[*] Crores, (hereinafter referred to as "the issue"), by Archidply Industries Limited ("our company", or "the issuer"). The issue will constitute 30.07 % of the fully diluted post issue paid-up capital of our company Price band: Rs.70/- to Rs.80/- per equity share of face value of Rs.10/- each The issue price is 7 times of the face value at the lower end of the price band and 8 times of the face value at the higher end of the price band |
| Bid | Book Built Portion | Fixed Price Portion | Money payable on | |||
| Opens on | Closes on | Opens on | Closes on | Opens on | Closes on | Application |
| Jun 11, 2008 | Jun 17, 2008 | Jun 11, 2008 | Jun 17, 2008 | Jun 11, 2008 | Jun 17, 2008 | Rs. 70.00-80.00 |
| Minimum Application for shares in Nos (Book built portion) :75 Minimum Application for shares in Nos (Fixed price portion) :75 Further muliples of :75 | ||||||
| Rs cr | Book Running Lead Manager to the offer | |
| Project Cost | 0.00 | Motilal Oswal Investment Advisors Pvt Ltd |
| Project financed through current issue | 46.31 | - |
| Post Issue Equity share capital | 22.00 | Lead Manager to the offer |
| Issue Price | Rs. 70.00 | NA |
| Object of the issue : Setting up new manuf.Facil. PPB,PLB &Decor.plywood, Setting up new manuf.faci. Med. Density Fibreboard, Pre-Opera. Exp & Provision for Contingencies, Margin Money for Working Capital requirement. |
| Promoted by | Listing at | Registrar to the Issue |
| Deen Dayal Daga Shyam D Daga Rajiv D Daga Assam Timber Products Pvt Ltd | BSE NSE | - |
Fears of CRR hike accentuate fall in late trade
Fears of CRR hike accentuate fall in late trade
The market failed to sustain higher level despite firm start on sustained selling pressure. Volatility was high throughout the day. Rumours that the Reserve Bank of India may hike cash reserve ratio (CRR) or interest rate later in the day to tame inflation, spooked the market. The market breadth turned negative from positive.
Global cues were positive, with European and Asian markets trading in positive zone. US markets saw a sharp rally yesterday, 5 June 2008.
Inflation based on the wholesale price index (WPI) rose 8.24% in the year through 24 May 2008, compared to previous week's rise of 8.10%. The government also revised the annual inflation rate for the year through 29 March 2008 to 7.75% as compared to 7.41% reported earlier.
Crude oil climbed close to $6 on Thursday, 5 June 2008, to more than $127 per barrel as funds shifted back into oil when the dollar fell against the euro following a signal from the European Central Bank that it may raise interest rates. The crude contract climbed another 0.3% in Asian trading today.
The 30-share BSE Sensex was down 203.62 points or 1.29% at 15,566.10, as per provisional closing. The Sensex lost 243.22 points at day’s low of 15,526.50 touched in late trade. After opening 144.69 points higher at 15,914.41, the Sensex advanced further to strike an intra-day high of 15,970.70 in early trade. At the day’s high, Sensex gained 200.98 points.
The broader based S&P CNX Nifty was down 51.60 points or 1.10% at 4,625.35 as per provisional closing.
Reserve Bank of India governor YV Reddy yesterday, 5 June 2008 hinted at a possible increase in CRR in an attempt to curb inflationary expectations
The market breadth was negative on BSE with 1516 shares declining as compared to 1142 that advanced. 64 remained unchanged. On the contrary, the market breadth was strong in early trade.
The BSE Mid-cap index was down 0.95% to 6,339.21 and the BSE Small-Cap index slipped 0.60% to 7,689.53, as per provisional closing.
The total turnover on BSE amounted to Rs 5229 crore as compared to Rs 3973 crore by 14:30 IST.
Among the 30-member Sensex pack, 25 declined while the rest advanced.
Mahindra & Mahindra (M&M), the country’s largest tractor company in terms of sales, advanced 3.07% to Rs 580 on 60,044 shares. On 5 June 2008, the company agreed to buy Italian auto designer Engines Engineering for an undisclosed sum. The stock was the top gainer from Sensex pack.
Tata Motors (up 1.37% to Rs 539.90), Infosys Technologies (up 0.73% to Rs 1994.10), and Grasim (up 1.06% to Rs 2270) edged higher from the Sensex pack
India’s largest private sector company in terms of market capitalisation and oil refiner Reliance Industries (RIL) was down 0.74% to Rs 2231.10 on high volumes of 17.10 lakh shares. The stock had surged to an intra-day high of Rs 2299 in opening trade. Reliance Industries today said only one unit at its Nagothane petrochemicals plant had been shut by a fire and others were running normally. The plant has an annual capacity of 4,00,000 tonnes of ethylene. The shut unit has annual capacity of 1,20,000 tonnes
India’s third largest software services exporter Wipro lost 4.05% to Rs 507 on 2.86 lakh shares. It was the top loser from Sensex pack.
Hindalco Industries (down 3.99% to Rs 174.65), ITC (down 3.98% to Rs 213.50) and DLF (down 3.98% to Rs 517.50), edged lower from the Sensex pack.
India’s largest state run engineering company in terms of outstanding order book Bharat Heavy Electricals declined 1.80% to Rs 1419, after striking an intra-day high of Rs 1499.95. On 26 May 2008, the company had bagged Rs 1,150-crore turnkey contract from a joint venture of HPCL and Mittal Energy for setting up an energy efficient 153 megawatt captive power plant at Bhatinda in Punjab.
India's second largest power generation company in terms of sales, Reliance Infrastructure (formerly Reliance Energy), slipped 2.29% to Rs 1105, after hitting day’s high of Rs 1163. The stock was boosted by reports that it has won regulatory approval to raise power tariff by as much as 10.22% for its 2.6 million users in Mumbai. Shares of rival power generation company Tata Power Company rose 1.86% to Rs 128.05 on reports it has also hiked tariff marginally. The new tariff will be applicable from 1 June 2008 31 March 2009.
Interest rate sensitive banking shares declined. ICICI Bank (down 1.66% to Rs 768.25) and HDFC Bank (down 1.05% to Rs 1230) declined.
India’s largest stare-run bank in terms of net profit State Bank of India fell 1.80% to Rs 1330. The bank signed an agreement with Societe Generale Securities Services, a division of Societe Generale Group, to form a joint venture company for providing custody services.
Reliance Industries was the top traded counter on BSE with turnover of Rs 386.07 crore followed by Reliance Capital (Rs 214.18 crore), Cairn India (Rs 208.51 crore), Gokul Refoils (Rs 196.95 crore), and Anu’s Labs (Rs 173.44 crore), in that order.
European markets, which opened after Indian markets pared early gains. Key benchmark indices in United Kingdom (up 0.47% to 6,023.40), France (up 0.01% to 4,907.23), and Germany (up 0.02% to 6,943.43), advanced.
Most Asian markets, which opened before Indian markets, were trading higher today, 6 June 2008. Japan's Nikkei (up 1.03% at 14,489.44), Hang Seng (up 0.61% at 24,402.18), Taiwan's Taiwan Weighted (up 0.08% at 8,745.35), Singapore's Straits Times (up 0.26% at 3,151.94), advanced. However, China's Shanghai Composite declined 0.56% at 3,332.77.
US markets rallied yesterday, 5 June 2008 on stronger-than-expected May 2008 sales by Wal-Mart and other retailers and a surprising fall in weekly jobless claims, spurring optimism about the economy's health. The Dow Jones industrial average gained 213.97 points, or 1.73%, to 12,604.45. The S&P 500 index advanced 26.85 points, or 1.95%, to 1,404.05, and the Nasdaq Composite index surged 46.80 points, or 1.87%, to 2,549.94
The European Central Bank said yesterday, 5 June 2008, it would keep key lending rates unchanged at 4%. The bank, however, anticipates inflation to be more persistent than previously anticipated. Also the Bank of England kept its benchmark interest rate unchanged at 5% yesterday, 5 June 2008.
Back home, frenzied buying coupled with short covering after three straight days of fall triggered a solid rally yesterday, 5 June 2008. The 30-share BSE Sensex jumped 254.93 points or 1.64% at 15,769.72 and the broader based S&P CNX Nifty was up 91.35 points or 1.99% to 4,676.95, on that day.
As per provisional data, foreign funds sold shares worth a net Rs 1418.34 crore yesterday, 5 June 2008. Domestic funds bought shares worth a net Rs 570.03 crore on that day.
Foreign institutional investors (FIIs) were net buyers of Rs 1054.43 crore in the futures & options segment yesterday, 5 June 2008. They were net buyers of index futures to the tune of Rs 1035.25 crore and bought index options worth Rs 405.81 crore. They were net sellers of stock futures to the tune of Rs 402.85 crore and bought stock options worth Rs 16.22 crore.
Meanwhile, market regulator Securities and Exchange Board of India (Sebi) yesterday, 5 June 2008, ruled out relaxing curbs imposed last year on participatory notes (PNs), a derivative tool that enables unregistered foreign investors to invest in Indian stock markets. In October 2007, Sebi had imposed restrictions on Foreign Institutional Investors (FIIs) to issue PNs and asked FIIs and their sub-accounts not to issue fresh PNs against underlying derivatives and wind up their existing position in 18 months.
Source: Capital Market
Global cues were positive, with European and Asian markets trading in positive zone. US markets saw a sharp rally yesterday, 5 June 2008.
Inflation based on the wholesale price index (WPI) rose 8.24% in the year through 24 May 2008, compared to previous week's rise of 8.10%. The government also revised the annual inflation rate for the year through 29 March 2008 to 7.75% as compared to 7.41% reported earlier.
Crude oil climbed close to $6 on Thursday, 5 June 2008, to more than $127 per barrel as funds shifted back into oil when the dollar fell against the euro following a signal from the European Central Bank that it may raise interest rates. The crude contract climbed another 0.3% in Asian trading today.
The 30-share BSE Sensex was down 203.62 points or 1.29% at 15,566.10, as per provisional closing. The Sensex lost 243.22 points at day’s low of 15,526.50 touched in late trade. After opening 144.69 points higher at 15,914.41, the Sensex advanced further to strike an intra-day high of 15,970.70 in early trade. At the day’s high, Sensex gained 200.98 points.
The broader based S&P CNX Nifty was down 51.60 points or 1.10% at 4,625.35 as per provisional closing.
Reserve Bank of India governor YV Reddy yesterday, 5 June 2008 hinted at a possible increase in CRR in an attempt to curb inflationary expectations
The market breadth was negative on BSE with 1516 shares declining as compared to 1142 that advanced. 64 remained unchanged. On the contrary, the market breadth was strong in early trade.
The BSE Mid-cap index was down 0.95% to 6,339.21 and the BSE Small-Cap index slipped 0.60% to 7,689.53, as per provisional closing.
The total turnover on BSE amounted to Rs 5229 crore as compared to Rs 3973 crore by 14:30 IST.
Among the 30-member Sensex pack, 25 declined while the rest advanced.
Mahindra & Mahindra (M&M), the country’s largest tractor company in terms of sales, advanced 3.07% to Rs 580 on 60,044 shares. On 5 June 2008, the company agreed to buy Italian auto designer Engines Engineering for an undisclosed sum. The stock was the top gainer from Sensex pack.
Tata Motors (up 1.37% to Rs 539.90), Infosys Technologies (up 0.73% to Rs 1994.10), and Grasim (up 1.06% to Rs 2270) edged higher from the Sensex pack
India’s largest private sector company in terms of market capitalisation and oil refiner Reliance Industries (RIL) was down 0.74% to Rs 2231.10 on high volumes of 17.10 lakh shares. The stock had surged to an intra-day high of Rs 2299 in opening trade. Reliance Industries today said only one unit at its Nagothane petrochemicals plant had been shut by a fire and others were running normally. The plant has an annual capacity of 4,00,000 tonnes of ethylene. The shut unit has annual capacity of 1,20,000 tonnes
India’s third largest software services exporter Wipro lost 4.05% to Rs 507 on 2.86 lakh shares. It was the top loser from Sensex pack.
Hindalco Industries (down 3.99% to Rs 174.65), ITC (down 3.98% to Rs 213.50) and DLF (down 3.98% to Rs 517.50), edged lower from the Sensex pack.
India’s largest state run engineering company in terms of outstanding order book Bharat Heavy Electricals declined 1.80% to Rs 1419, after striking an intra-day high of Rs 1499.95. On 26 May 2008, the company had bagged Rs 1,150-crore turnkey contract from a joint venture of HPCL and Mittal Energy for setting up an energy efficient 153 megawatt captive power plant at Bhatinda in Punjab.
India's second largest power generation company in terms of sales, Reliance Infrastructure (formerly Reliance Energy), slipped 2.29% to Rs 1105, after hitting day’s high of Rs 1163. The stock was boosted by reports that it has won regulatory approval to raise power tariff by as much as 10.22% for its 2.6 million users in Mumbai. Shares of rival power generation company Tata Power Company rose 1.86% to Rs 128.05 on reports it has also hiked tariff marginally. The new tariff will be applicable from 1 June 2008 31 March 2009.
Interest rate sensitive banking shares declined. ICICI Bank (down 1.66% to Rs 768.25) and HDFC Bank (down 1.05% to Rs 1230) declined.
India’s largest stare-run bank in terms of net profit State Bank of India fell 1.80% to Rs 1330. The bank signed an agreement with Societe Generale Securities Services, a division of Societe Generale Group, to form a joint venture company for providing custody services.
Reliance Industries was the top traded counter on BSE with turnover of Rs 386.07 crore followed by Reliance Capital (Rs 214.18 crore), Cairn India (Rs 208.51 crore), Gokul Refoils (Rs 196.95 crore), and Anu’s Labs (Rs 173.44 crore), in that order.
European markets, which opened after Indian markets pared early gains. Key benchmark indices in United Kingdom (up 0.47% to 6,023.40), France (up 0.01% to 4,907.23), and Germany (up 0.02% to 6,943.43), advanced.
Most Asian markets, which opened before Indian markets, were trading higher today, 6 June 2008. Japan's Nikkei (up 1.03% at 14,489.44), Hang Seng (up 0.61% at 24,402.18), Taiwan's Taiwan Weighted (up 0.08% at 8,745.35), Singapore's Straits Times (up 0.26% at 3,151.94), advanced. However, China's Shanghai Composite declined 0.56% at 3,332.77.
US markets rallied yesterday, 5 June 2008 on stronger-than-expected May 2008 sales by Wal-Mart and other retailers and a surprising fall in weekly jobless claims, spurring optimism about the economy's health. The Dow Jones industrial average gained 213.97 points, or 1.73%, to 12,604.45. The S&P 500 index advanced 26.85 points, or 1.95%, to 1,404.05, and the Nasdaq Composite index surged 46.80 points, or 1.87%, to 2,549.94
The European Central Bank said yesterday, 5 June 2008, it would keep key lending rates unchanged at 4%. The bank, however, anticipates inflation to be more persistent than previously anticipated. Also the Bank of England kept its benchmark interest rate unchanged at 5% yesterday, 5 June 2008.
Back home, frenzied buying coupled with short covering after three straight days of fall triggered a solid rally yesterday, 5 June 2008. The 30-share BSE Sensex jumped 254.93 points or 1.64% at 15,769.72 and the broader based S&P CNX Nifty was up 91.35 points or 1.99% to 4,676.95, on that day.
As per provisional data, foreign funds sold shares worth a net Rs 1418.34 crore yesterday, 5 June 2008. Domestic funds bought shares worth a net Rs 570.03 crore on that day.
Foreign institutional investors (FIIs) were net buyers of Rs 1054.43 crore in the futures & options segment yesterday, 5 June 2008. They were net buyers of index futures to the tune of Rs 1035.25 crore and bought index options worth Rs 405.81 crore. They were net sellers of stock futures to the tune of Rs 402.85 crore and bought stock options worth Rs 16.22 crore.
Meanwhile, market regulator Securities and Exchange Board of India (Sebi) yesterday, 5 June 2008, ruled out relaxing curbs imposed last year on participatory notes (PNs), a derivative tool that enables unregistered foreign investors to invest in Indian stock markets. In October 2007, Sebi had imposed restrictions on Foreign Institutional Investors (FIIs) to issue PNs and asked FIIs and their sub-accounts not to issue fresh PNs against underlying derivatives and wind up their existing position in 18 months.
Source: Capital Market
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