The last four months of the financial year 2018-19 will be crucial for the government to balance its books, with the Centre so far achieving less than a fifth of its budgeted Rs 80,000 crore disinvestment revenues for this year.As on November 8, the government garnered Rs 15,247 crore as disinvestment proceeds, government data showed. This includes Rs 5,218 crore from Coal India share sale, Rs 1,700 crore from initial public offering (IPO) of Mishra Dhatu Nigam, RITES, IRCON International and Garden Reach Shipbuilders and Engineers.The government was also able to raise Rs 8,325 crore from Bharat 22 ETF (Exchange-Traded Fund), which is similar to mutual funds.Close Proceeds from the finance ministry’s department of investment and public asset management (DIPAM) comprises a significant, part of non-tax revenue for the Centre. A higher receipt from disinvestment is crucial as there is uncertainty regarding in meeting the indirect tax collection target, mainly from Goods and … [Read more...] about Last minute dash likely as disinvestment proceeds far short of Rs 80,000 cr target
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Great Eastern Shipping Company share price gained 3 percent intraday on November 21 after the company announced the closure of buyback of shares.The buyback committee of company announced the closure of its buyback on November 20, prior to the expiry of six months from the commencement date.The company has bought back 38,10,581 equity shares at an average market price of Rs 261.60 per equity share.Close The company has contracted to sell its 2000 built Suezmax Crude Carrier Jag Lakshita of about 147,092 dwt. related news D-Street Buzz: Oil & gas stocks fall led by BPCL; L&T gains, UCO Bank zooms 16% Reliance Capital share price locked at lower circuit after assets sale restriction The vessel will be delivered to the new buyer in Q3 FY 2019-20.Including Jag Lakshita, the company's current fleet stands at 47 vessels, comprising 34 tankers, and 13 dry bulk carriers with an average of 11.98 years aggregating 3.85 mn dwt.At 09:45 hrs Great Eastern Shipping Company was … [Read more...] about GE Shipping share price gains 3% on closure of buyback
Lenovo recently added two new notebooks to its ThinkBook lineup. The ThinkBook 14 and ThinkBook 15 are the latest additions to Lenovo’s ThinkBook series, which is aimed at small and medium-sized businesses. The new ThinkBook lineup is designed for the modern workforce with productivity, portability, performance, and design in mind. The new ThinkBook models will be available from the first week of December with prices starting from Rs 30,990.Talking at the launch event, Rahul Agarwal, CEO & MD, Lenovo India said; “Our vision of Smarter Technology for All is a world where every person and business has access to technology that enables them to achieve their own intelligent transformation. The new wave of young business leaders expects their workplace devices to do more but with a minimalist look. ThinkBook is a perfect fit to fill this existing product gap in the SMB marketplace.”The new ThinkBook 14 and 15 offer up to 10th Gen Intel Core i7 six-core processors … [Read more...] about Lenovo launches 10th Gen Intel-powered ThinkBook 14 and 15 in India
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
After a fantastic year for Indian equity markets, domestic mutual fund industry experts are hoping for another blockbuster year in 2018.The year 2017 was one of the best years for mutual funds in recent years as the industry matured and attained some level of sustainability. In fact, this was the best ever year for Indian retail investors because unlike most of the previous bull runs, which were led by FIIs, this one was led by domestic retail inflows.The Indian markets were on a roll in 2017 with indices delivering around 27-28 percent return between January and December. Indices clocked fresh milestones frequently after Nifty first hit an all-time high of 10,000 in July. The Nifty has largely traded above the 10k-mark since then, running parallel to the Sensex, which hit 34,000 for the first time on December 26.Close Domestic investors have really been the big drivers for this market, especially through the mutual fund (MF) route. In nine out of the 11 months till November, equity … [Read more...] about MFs had a terrific run in 2017, but can they create wealth for investors in 2018?