HDFC Mutual Fund will launch HDFC Housing Opportunities Fund- Series 1 on Nov 16 and it will remain open for subscription until November 30, an official from the fund house said today.The close-ended thematic equity fund will allocate at least 80 percent of its assets in equity and equity related instruments of entities engaged in and/or expected to benefit from the growth in housing and its allied business activities.The fund house will also invest up to 20 percent in equity shares of companies other than in housing and its allied business activities or in debt and money market instruments.Close The scheme also has the provision to invest up to 10 percent in units issued by Real Estate Investment Trusts or REITs & Infrastructure Investment Trusts InvITs.Himadri BuchAssistant Editor|Moneycontrol.com Essel Group stake sale in Zee: Will it release logjam for MFs?SEBI move to up minimum PMS investment could benefit mutual fundsExclusive | L&T MF CIO Soumendra Nath Lahiri … [Read more...] about HDFC Mutual Fund to launch housing opportunities fund on Nov 16; offer to end Nov 30
Dreams about flooding house
After witnessing poor attendance at its earlier meeting last week, the Parliamentary panel on November 20 was near-full house.The panel on urban affairs faced severe criticism last week when many Members of Parliament (MPs) skipped a meeting on pollution. Members who skipped included Bharatiya Janata Party (BJP)’s East Delhi MP Gautam Gambhir, even as the national capital braved very poor air quality.According to a report by ThePrint, the November 20 meeting lasted several hours and had a near-full house in attendance. Besides MPs, officials also participated in the meeting.Close The panel discussed specific measures to curb air pollution, including artificial rain and finding viable alternatives uses of paddy stubble in neighbouring states such as Haryana and Punjab. Burning of stubble is seen as one of the key factors leading to deterioration of air quality levels in the national capital and north India, especially during the October-November period. related news … [Read more...] about Criticised for poor attendance in previous meet, Parl panel sees near-full house: Report
The economic slowdown is likely to weigh on the credit offtake of the banking system, but brokerage firm BNP Paribas says in India the sector will recover, thanks to lower cost of funds, cost efficiencies and lower tax.The brokerage said higher operational efficiency driven by digital initiatives and lower workforce requirements will ensure that the cost to income ratio maintains its downward trajectory."We believe a lower cost of funds, cost efficiencies, and the benefit from lower tax rates should lead to return on equity (RoE) accretion of 370bps for private banks. Higher RoEs should warrant much higher price-to-book ratios (P/Bs). We see a 10-15 percent upside from current valuations for private banks over the next five years," said BNP Paribas.Close Given that the asset quality cycle has peaked, the credit cost should be lower than those in the previous cycle, the brokerage said. related news Sensex at record high but midcaps likely to generate wealth; 20 stocks … [Read more...] about Banking set to see a recovery, life insurance the next big sector: BNP Paribas
Zee Entertainment Enterprises share price rose 15 percent in the early trade on November 21 after promoters of the media house mulled selling their stake in the company.Essel Group, a promoter of the company, is looking to sell up to 16.5 percent stake in the media company.After the transaction, Essel's holding will come down to five percent in the company, out of which encumbered holding will be 1.1 percent.Close The stake sale will be to clear loan obligations to certain lenders of the group. related news D-Street Buzz: Oil & gas stocks fall led by BPCL; L&T gains, UCO Bank zooms 16% GE Shipping share price gains 3% on closure of buyback Reliance Capital share price locked at lower circuit after assets sale restriction Also Read - Essel Group to lose controlling stake in Zee EntertainmentOf the 16.5 percent, 2.3 percent will be sold to OFI Global China Fund -- a subsidiary of Invesco Oppenheimer Developing Markets Fund -- which already held 8.7 percent stake in the … [Read more...] about Zee Entertainment share price rises 15% on stake divestment
To clear its loan obligations, debt laden Essel Group on November 20 announced plans to sell 16.5 percent stake in its flagship company Zee Entertainment Enterprises to financial investors.Promoter Subhash Chandra along with his family owes over Rs 7,000 crore to domestic lenders, including mutual funds, and Russian lender VTB.The promoter and promoter group holds 22.37 percent equity in ZEE, of which 96 percent was pledged with lenders, as per shareholding data available on the exchanges.Also read: Is Subhash Chandra’s stake reduction good news for Zee shareholders?With this stake sale, mutual fund experts believe that fund houses will get back their capital stuck with the Essel Group. “All lenders debt will be cleared through this stake sale, and in some cases fund houses will be able to recover their lost valuations,” said Dhirendra Kumar, CEO, Value Research, a mutual fund research firm.In September, Essel group had made a part payment to the … [Read more...] about Subhash Chandra stake stake in ZEE | Will it release logjam for MFs?