PPFAS Mutual Fund will conduct its 4th Annual General Meeting or AGM for its unit holders starting in Mumbai from November 11, 2017. This will be followed by meetings in Chennai on November 18, 2017 and in Bengaluru on November 25, 2017, a release from the fund house stated.The choice of cities is determined by the number of folios, with the top three making the cut each year.In line with its preference for keeping it simple the fund house has launched only one scheme Parag Parikh Long Term Value Fund.Close On the rationale of being the only fund house in India to organise AGM Neil Parag Parikh, Chairman and CEO, PPFAS Mutual Fund said, "These annual meetings give an opportunity for seasoned investors and layman alike to interact with our team under one roof. We get to know each other and personally secure their feedback."Himadri BuchAssistant Editor|Moneycontrol.com SEBI disciplines valuation treatment of unrated securitiesIndiabulls MF's Raghav Iyengar tipped … [Read more...] about PPFAS Mutual Fund to hold 4th Annual General Meeting for its unitholders
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Mutual funds houses have been lapping up shares of ITC due to its cheap valuations compared with the available stocks in the FMCG sector.India’s 4th largest company by market cap which rose a little over 11 percent so far in the year 2017 saw some bulk-buying interest from mutual fund managers in September ahead of its results.Fund managers bought Rs 1,433 crore worth of ITC shares in September, according to data compiled by Morningstar India which led to over 10 percent month-on-month increase in their holding. The market value of total mutual fund holding in ITC is nearly Rs 15000 crore.Close As per the data on Moneycontrol, the top 10 mutual funds, by assets under management, purchased 4.15 crore shares of ITC in September.Himadri BuchAssistant Editor|Moneycontrol.com SEBI disciplines valuation treatment of unrated securitiesIndiabulls MF's Raghav Iyengar tipped to join Axis MF as Chief Business OfficerDreamery to be sold in general trade, Future Consumer’s dairy brand … [Read more...] about Mutual funds lap up ITC as the stock turns cheapest among FMCG peers
The industrial production contracted for the second consecutive month, shrinking by 4.3 percent in September with weakness across sectors. In fact, it hit the lowest level of almost eight years.It was much weaker than a poll of analysts conducted by CNBC-TV18 which was pegged at negative 1.9 percent and contraction of 1.4 percent in August.The growth in the mining segment fell to a multi-year low of (-8.5 percent against 0.1 percent MoM). In sync with the slowdown in the economy, manufacturing IIP also contracted by (-3.9 percent against -1.2 percent MoM) led by large sectors.Close From the use-based classification side, capital goods, consumer durables, infrastructure and construction goods, and primary goods led the slowdown, contracting by -20.7 percent (against -21 percent MoM), -9.9 percent (against -9.1 percent MoM), -6.4 percent, and -5.1 percent (against 1.1 percent MoM), respectively. related news With infra in focus, this smallcap stock could double your investment … [Read more...] about Another 50bps repo rate cut likely by March 2020
UK Foreign Secretary Boris Johnson resigned on Monday night, sending alarm bells ringing across the government. Johnson was the public face during the 2016 Brexit campaign, urging citizens to quit European Union.Johnson was the third high-level resignation in 24 hours.Here’s an explainer on Johnson’s resignation and what it means for the UK government and Brexit:Close Why did Johnson resign? related news Disqualified Karnataka MLAs welcome Supreme Court nod for contesting bypolls Supreme Court to deliver verdict on pleas seeking Rafale judgment review tomorrow Maharashtra government formation: Ahmed Patel, Uddhav Thackeray discuss common minimum programme The immediate reason that Johnson cited for his resignation was UK Prime Minister Theresa May and her Brexit strategy. In a letter, Johnson wrote that May was leading the UK into a “semi-Brexit” and that the Brexit dream was “dying, suffocated by needless self-doubt".Johnson’s reaction … [Read more...] about UK foreign secretary Boris Johnson’s resignation: What has happened so far and what happens next?
The Monsoon Session of Parliament is set to begin on July 18 and will go on for 18 days until August 10. The session is expected to clear pending Bills and Ordinances and introduce new ones.Thirteen Bills were passed in last year’s Monsoon Session, three out of which were Ordinary Bills. Over 34 hours and 29 minutes were spent by both the houses in discussing the Bills.According to Vijay Goel, Minister of State (MoS) for Parliamentary Affairs, there are over 68 Bills pending in Lok Sabha while 40 are pending in Rajya Sabha. Official Lok Sabha and Rajya Sabha websites, however, peg the numbers at 27 and 48 respectively.Close Here are some of the important Bills scheduled to be tabled during the Monsoon Session: related news Supreme Court to deliver its verdict on pleas seeking Sabarimala judgment review tomorrow 'Vodafone India to head for liquidation if Centre does not ease spectrum fees': Report Disqualified Karnataka MLAs welcome Supreme Court nod for contesting … [Read more...] about Monsoon Session of Parliament begins next Wednesday: Here’s what to expect