- Is VPF still a good fixed income invest? Want to reduce your taxation smarter?VPF will give a person (in the 30% tax bracket) a 5.8% return post taxes. For smarter taxation options – pull out your EPF money (taxable interest component) at the age of 61 when your income would not be in the 30% bracket.
- Tata consumer products acquired 100% of the issued and paid-up equity share capital of Kottaram Agro Foods for 155.8cr The acquisition will open up new market opportunities for the company that has been expanding its distribution in the country and building stronger foods and beverages play.
- The government has proposed drastic changes to the LIC act of 1956 that pertain to the capital structure, composition of the board, dividend payments to policyholders, and governing norms of the state-owned life insurance company ahead of its public listing.
- The 3,800 crores, Brookfield REIT IPO opened for subscription today. This is the third such issue in India and the only institutionally managed public commercial real estate vehicle.
- Dixon tech. board approves stock split – 5 shares for every share held. over the past year Dixon tech. has surged nearly 300%. This move will encourage retail investors to be a part of their growth journey.
Mrs. Bectors Food IPO opens today
- The Rs 540-crore initial public offer (IPO) of Mrs. Bectors Food Specialities will open for two days on Tuesday (December 15). Net proceeds of the issue would be utilized for financing the project cost towards the expansion of its Rajpura manufacturing facility by establishing a new production line for biscuits and for general corporate purposes.
Are PSU stocks deeply discounted?
- One has to be very selective when picking up PSU stocks and not go for the entire pack. Stocks like SBI have a steady future because all its subsidiaries are doing well – SBI bank gained market share in its deposits from 22% to 24%, Sbi cards have 18% market share, SBI life insurance has 18-19% ROE/EV share and SBI MF is considered as the number one AMC.
BPCL evaluation panel to vet three EoIs today
- Apollo Global, Vedanta, and think gas has expressed interest in BPCL stake. Today an evaluation committee on privatization of BPCL is expected to meet to discuss this opportunity.
Pfizer rolls out the Long-awaited COVID19 vaccine
- Pfizer is expected to deliver an estimated 2.9million doses to hospitals and nursing homes in the first phase of vaccine rollout.
Another lockdown in New York?
- The governor of NY says there will not be a lockdown in New York unless hospitals reach 90% capacity. Right now NYC hospitals are at 81% capacity with about 150-200 people getting admitted per day but people are being discharged per day too. With the holiday season knocking on our doors, we can only hope that the cases don’t rise too fast.
- Brexit negotiations have threatened to conclude without a deal as the UK and the European Union continue to struggle to find common ground on fisheries, governance, and state aid. Both sides have agreed to continue talking but Boris Johnson has warned there is a very high risk no agreement may be found in the coming days.
- Ola set to invest 2400 cr to set up electric scooter factory. The planned unit would draw an investment of Rs 2,400 crore, employ as many as 10,000 people, and would have an initial production capacity of 2 million vehicles annually. Firms to benefit from this are – Bajaj Auto, Hero Motocorp-backed Ather Energy, and TVs.
- Sebi has proposed to tweak several rules to encourage startups to go public and list on the so-called Innovators Growth Platform. SEBI has proposed that the compulsory shareholding period before listing for investors owning 25% or higher stake be halved to one year.
- Is your money stuck in Franklin Templeton’s (FT)debt scheme? Well, guess what, there is still time before you can see your money. FT had moved to the Supreme Court against the Karnataka High Court Order.
- Lost money in the Karvy Fiasco? Good news – NSE has declared Karvy as a defaulter, paving the way for its clients of the troubled broking firm to make claims with the exchange to recover their dues.
- Nse would be able to pay its clients from the Investor protection fund. The total default is said to be in excess of Rs. 3,000/- cr. Last week NSE settled funds and securities worth Rs 2,300 crore belonging to 235,000 clients. This re-enforces the trust in exchanges in India.
- Nifty touched another milestone yesterday as it crossed 13,000 for the first time and settled around the day’s high as well. The DOW reaches a record high of 30,000. The bias was upbeat from the beginning, thanks to the news of the successful trial of another COVID vaccine with high efficacy.
- The rally also comes after the US General Service Administration declared Biden the apparent winner of the US election, clearing the way for the formal transition from Donald Trump’s administration to begin, ending weeks of uncertainty and delay.
- Sputnik V shows 91.4% efficacy in the second interim analysis on day 28 after the first dose. The cost of one dose of this for international markets would be less than $10. Sputnik V is a two-dose vaccine.
- Relaxo Footwears Ltd plans to invest Rs 150 crore in the current fiscal to set up a new manufacturing facility amid growing demand for open footwears such as slippers and sandals in the backdrop of the COVID-19 pandemic.
- The Reserve Bank of India has rejected non-bank lender Muthoot Finance’s proposal to acquire IDBI Asset Management Company on the ground of synergy – or the obvious lack of it. “The activity of sponsoring a mutual fund or owning an asset management company is not in consonance with the activity of an operating NBFC,” the regulator told the gold-loan company. Muthoot had entered into a share purchase agreement with IDBI Bank, and IDBI Capital Markets & Securities, IDBI Asset Management, and IDBI MF Trustee Company a year back to fully acquire the asset management company.
- Banking Stocks – The toxic assets on banks’ balance sheets are expected to rise to 10-11% of total advances as the regulator phases out the asset classification relaxations offered to lenders to ride out the covid-19 storm, S&P Global Ratings has said.
Indian equities are entering this week in a cheerful mood, courtesy to positive local and global cues.The earnings season kicked off on an upbeat note after IT major TCS announced robust second-quarter earnings. On the global front, updates on the US stimulus package and upcoming Presidential debates will provide support to the markets
Mazgaon dock Shilpbuilder, the country’s largest defense company, started off very positive on its first day trade with a terrific 49 percent premium on October 12.
SC hearing on waiver of interest on interest charges is due tomorrow, 13 October – In its affidavit, the Centre said that due to unprecedented conditions “the only solution is for the government to bear the burden of waiving of interest” and that it will seek Parliament’s approval for the decision.
India’s agricultural exports has jumped in Covid times. – Export of important agricultural commodities in the primary six months of the present fiscal rose 43.4% to Rs 53,626.6 crore from Rs 37,397.three crore in the identical interval final 12 months.
The issue price for the sovereign gold bond has been fixed at Rs 5,051 per gram of gold, the Reserve Bank of India (RBI) said in a statement on Friday.The Sovereign Gold Bond Scheme 2020-21-Series VII will be opened for subscription from October 12 to October 16.
Auto developments : The Delhi government has exempted road tax on its battery-operated vehicles under its new Electric Vehicle Policy, Delhi Transport minister Kailash Gahlot said on Sunday
Shares of mining firm Vedanta hit the lower circuit as they tumbled 10 per cent on Monday, after its delisting offer failed to garner enough bids on the bourses.