Daily Market Analysis – 2nd Feb 2021
Budget 2021 May Dent Retirement Savings as PF Interest Above a Certain Limit to Get Taxable The budget has plugged a major tax leak by placing a cap on the Provident Fund contribution that will earn tax-free income. A lot of people contribute huge sums to the Provident Fund every month to gain tax-free interest. Now that has been capped at Rs 2.5 lakh a year. Interest earned on Provident...
Daily Market Analysis – 29th Jan 2021
Sundaram AMC to take over Principal Mutual Fund in India: Sundaram Asset Management Company Limited has announced the purchase of the asset management businesses of Principal Asset Management Pvt. Ltd. Sundaram will acquire the schemes managed by Principal Asset Management and acquire 100% of the share capital of Principal AMC. Sundaram Mutual has over Rs 40,000 crores in assets under...
Daily Market Analysis – 28th Jan 2021
SEBI to reduce minimum application size: India’s capital and commodity markets regulator is in talks to cut down the minimum application size for IPOs from Rs 15,000 to Rs. 7,500 in an attempt to provide higher subscriptions to retail investors. SEBI has received several complaints from retail investor associations that retail investors are unable to get IPO subscription in most of the...
Daily Market Analysis – 27th Jan 2021
Soon government nod to vehicle scrapping policy: Union Minister Nitin Gadkari said on Friday, that the much-awaited policy to scrap 15 years old vehicles is likely to get a government nod soon. The policy is for the scrapping of vehicles that are more than 15 years old and includes cars, trucks, and buses. This policy boosted the automobile sector by phasing out old and polluting vehicles....
Daily Market Analysis – 25th Jan 2021
Mutual Funds continue to attract investors in 2020 add 72 lakh folios Higher disposable income and low interest on bank deposits have attracted people towards Mutual Funds. Mutual funds have added 72 lakh folios in the pandemic year 2020. In comparison, the industry had seen the addition of 68 lakh investor accounts in 2019, data with the Association of Mutual Funds in India (Amfi) showed....
Daily Market Analysis – 22nd Jan 2021
On day one of office, Joe Biden signs 15 executive orders mainly reversing Donald Trump’s Key policies. Such as joining the Paris agreement on climate change, halting America’s withdrawal from the World Health Organisation. His first order was launching a 100-day mask challenge for Americans’ to control COVID-19 in the USA.The most important bill for Indians was the Immigration bill and...
Daily Market Analysis – 21st Jan 2021
Vodafone Idea Group – Vodafone Group is evaluating to sell its stake in Indus tower to infuse capital in Vodafone Idea to meet capital requirement. This action takes place when the global leader of Vodafone ask its promoter to infuse capital in the Group. It is a discussion going on and if they want to implement this process, UK- Vodafone need to bring its shareholder on Board. Bajaj...
Daily Market Analysis – 20th Jan 2021
India planning tighter FDI rules for E-commerce segment The Department for Promotion of Industry and Internal Trade may issue a clarification through a Press Note, prohibiting e-commerce platforms from holding a stake in a seller, directly or indirectly. BharatPe, Centrum team up for PMC Bank bid Fintech platform BharatPe has put in a joint bid with financial services firm Centrum to...
Daily Market Analysis – 19th Jan 2021
India is considering hiking import duties by 5% – 10% on more than 50 items in the upcoming budget. The move to increase the duties is part of the self-reliant India campaign by PM Narendra Modi. This move would add revenue of about $2.7Billion for the government. Companies like IKEA and TESLA could be affected. Motherson Sumi is set to acquire a 75% equity stake in two...
