Product Updates

India's market capitalisation crosses Rs 100 trillion The Indian stock market on Friday achieved an important landmark by crossing Rs 100 trillion ($1.66 trillion) in market capitalisation. The feat was achieved when the benchmark BSE Sensex jumped 383 points, or 1.34%, to life high of 28,822.37. On closing basis, however, the value of listed companies on the BSE closed just shy of the Rs 100 trillion-mark. A sharp 35% rally in benchmark indices coupled with new paper issuances have helped India cement its position in the league table of top stock markets worldwide. India's market cap has soared Rs 29 trillion, or 42%---most in the world-- so far in 2014. The journey from Rs 50 trillion market cap to Rs 100 trillion took around seven years. "It has taken India and BSE 140 years to reach this milestone of Rs 100 lakh crores market capitalisation. However given India's potential, India should be able to achieve multiple times Rs 100 lakh crore market capit

Mumbai: Telcos, supermarkets, and even companies that run electronic wallets (or other prepaid instruments) can open so-called payments banks in the country, with the Reserve Bank of India (RBI) releasing rules for such entities. The move is aimed at providing basic savings, deposit, payment, and remittance services to people who currently do not have a bank account, including millions of migrant workers. Fifty per cent of Indians don't have bank accounts. The central bank also released rules for small banks, which will provide loans to small businesses and marginal farmers. Draft guidelines for both were released on 17 July. While the final norms are similar to those suggested in the draft rules, the central bank has expanded the scope of the business for such entities and given them more leeway in the manner in which deposits raised by them are deployed. In the case of payments banks, entities ranging from telecom companies and prepaid payment instrument issuers (PPIs

Mumbai: Monte Carlo Fashions Ltd (MCFL) has fixed price band of Rs.630-645 per equity share to raise around Rs.350 crore through an offer for sale by promoters group and private equity (PE) firm Samara Capital. The company is making an IPO of 54,33,016 equity shares of face value of Rs.10 each for cash at a price band of Rs.630 to Rs.645 per equity share through an offer for sale by selling shareholders. The offer constitutes 25% of the post offer paid-up equity share capital of the company. The issue opens on 3 December and closes on 5 December. Post IPO, the promoters will have up to 64% stake, public would be 25%, and Samara Capital would retain 11% stake in the company, Monte Carlo Fashion chairman Jawahar Lal Oswal told reporters. In June 2012, Samara Capital, a Mauritius-based India focused private equity firm, through its affiliate, KIL, acquired a stake in MCFL and currently holds 18.51% of the pre-offer capital of the company. The company is also considering particip

China top market for FIIs in Asia, India second New Delhi: Foreign institutional investors (FIIs) warmed up to Asian equities in November as the region recorded net inflows of $5.3 billion, out of which India attracted $1.4 billion, says a report by HSBC. According to the global financial services firm, after two consecutive months of sell-offs, FIIs have warmed up to Asian equities and all markets have received positive flows in November. Among Asian economies, China regained the top position as the 'most loved' market, pushing India down to second position in the region, while Thailand was placed at the third spot, it said. Till 24 November, the region recorded net inflow of $5.3 billion and though all markets received positive flows, Taiwan and India received the major chunk of funds with inflows of $2.3 billion and $1.4 billion, respectively. So far this year, the total FII inflows to Asian equities stood at $38.7 billion. "We are overweight on Indonesia, C

Mumbai: The Reserve Bank of India (RBI) on Tuesday clamped down on Indian firms raising funds overseas and routing them to India through certain types of structures. In a notification, RBI noted that some Indian firms access overseas markets for debt funds through overseas subsidiaries and associates and later route those funds back to their Indian operations. One of the ways this has been done is through investment in rupee bonds floated by the Indian company. Taking note of such instances, RBI clarified that Indian companies are not allowed to "issue any direct or indirect guarantee or create any contingent liability or offer any security in any form for such borrowings by their overseas holding/associate/subsidiary/group companies except for the purposes explicitly permitted in the relevant regulations." RBI further added that funds raised by an overseas subsidiary, associate or group company cannot be used in India unless it conforms to the general or specific p

Sebi tightens P-note rule to curb black Moneycontrol Bureau With FII inflows through the participatory note (P-note) route hitting an 80-month high of Rs 2.65 lakh crore in October, Sebi has tightened rules relating to issuance of P-notes, also known as offshore derivative instruments. It is widely suspected P-notes are a conduit for bringing black money parked abroad, back into India. P-notes are offshore derivative instruments issued by Sebi-registered FIIs to overseas investors who do want to register with Sebi for reasons legitimate or devious. The registered FII buys shares/derivatives on behalf of the unregistered players, and issues P-notes (a receipt of sorts) since the ownership of those shares/derivatives cannot be transferred to the unregistered players Under the new rules, a Sebi-registered foreign portfolio investor (FPI) can now issue P-notes only to those entities based in countries where the securities regulator and central bank are members of globally reco

                                                                                   Scheme Valid only for AMC Empolyee / Relatives       Form Download Call Back Series Send Whatsup – 98916445052           -- SMC Global Securities Limited is proposing, subject to receipt of requisite approvals, market conditions and other considerations, a further public offering of its equity shares and has filed the Draft Red Herring Prospectus with the Securities and Exchange Board of India ( SEBI ) and the Stock Exchanges. The Draft Red Herring Prospectus is available on the website of SEBI at www.sebi.gov.in and on the websites of the Book Running Lead Manager i.e., ICICI Securities Limited at www.icicisecurities.com and the Co- Book Running Lead Manager i.e., Elara Capital (India) Private L

All NRI investments in mutual funds are considered under T15 Two years ago, mutual fund (MF) houses started to incentivize distributors from smaller towns with extra commissions to attract more inflows. The idea was to promote MFs in non-metro areas as well, and that MFs, as an investment vehicle, should not just be available in large towns or to urban dwellers. Therefore, based on inflows, cities are classified into two categories—top-15 (T15) and beyond the top 15 (B15). But if the investor is a non-resident Indian (NRI), she is automatically considered a T15 investor, even if her address falls in a B15 area. WHAT'S THE LOGIC? To understand why an NRI's investment is meant to be location-agnostic when it comes to remunerating her distributor, we need to understand the purpose of a B15 commission. MFs as an investment instrument have not spread much. Around 80% of total MF inflows across India have come from the large metros such as Mumbai, Delhi, Ahmedabad and Banga

Mumbai: Foreign portfolio managers have pumped in almost $40 billion in Indian stocks and debt this year on expectations that economic growth will quicken and interest rates will be cut as lower oil prices cool inflation, making India the most attractive destination among emerging markets and in Asia excluding Japan. Net foreign portfolio investments into debt and equities reached $39.38 billion, according to the latest official data available on Friday. National Securities Depository Ltd releases data with a one-day lag. The last time India saw such strong inflows was in 2010 when net investments had added up to $39.38 billion for the full year. Foreign portfolio inflows into India are the second highest in the Asian region after Japan. China does not release exact data of foreign inflows. "The entire environment has shifted towards improved policy environment, better decision-making, improving growth and declining inflation. The mix of growth inflation is getting better,&

Debt mutual funds ask for bank guarantees, equity shares as collateral Easy liquidity and a rising appetite for risk have made mutual fund (MF) managers take on larger bets in lower-rated corporate paper. They're asking for bank guarantees and equity shares as collateral. In the past two to three months, sector officials said a pursuit of higher yields, brought on by expectation of improving corporate earnings, had seen a higher incidence of AA-rated and even A-rated papers in debt schemes. The trend of asking for collateral had almost died, as appetite for lower rated paper was minimal with the earlier poor sentiment. There has been a revival following the improvement in economic outlook, according to sector officials Business Standard spoke with. For listed companies, the trend is for MF schemes to take a cover of equity shares. For instance, in the form of preference shares, where the collateral is two to three times the funds raised, said managers. In case of a defa

Cash holdings rise in some MFs Mutual fund (MF) managers, typically, raise their cash exposure when they expect the market to fall or the risk-reward situation is not favourable. However, things seem different this time. Cash holdings seem elevated in some funds, although the benchmark indices are hovering near all-time highs. For instance, large-cap funds such as SBI Magnum Equity and Franklin India Bluechip were holding a little more than six per cent in cash as of October, according to data from MF tracker Morningstar India. Mid-cap funds such as UTI Mid Cap, Reliance L/T Equity, DSP BlackRock Micro Cap Reg, SBI Magnum Global, IDFC Sterling Equity and Reliance Small Cap held between 7.5 per cent and 15 per cent in cash. As on December 2013, the cash holding in most of these funds stood between one to seven per cent. Most of these funds manage anywhere between Rs 1,200 crore and Rs 2,700 crore by way of assets. Taking cash calls is a dilemma for many equity fund managers,

                Thanking you           -- SMC Global Securities Limited is proposing, subject to receipt of requisite approvals, market conditions and other considerations, a further public offering of its equity shares and has filed the Draft Red Herring Prospectus with the Securities and Exchange Board of India ( SEBI ) and the Stock Exchanges. The Draft Red Herring Prospectus is available on the website of SEBI at www.sebi.gov.in and on the websites of the Book Running Lead Manager i.e., ICICI Securities Limited at www.icicisecurities.com and the Co- Book Running Lead Manager i.e., Elara Capital (India) Private Limited at www.elaracapital.com . Investors should note that investment in equity shares involves a high degree of risk and for details relating to the same, please see the section titled Risk Factors of the aforementioned offer document. -- Disclaimer: This email and any files transmitted with it are confidential and

FII stake at 10-year high, but valuations lag 2008 peak There is a lot of steam still left on Dalal Street. At present, foreign institutional investors (FIIs) own nearly 42 per cent of all free-float (non-promoter) shares of BSE-500 companies - the highest level in 10 years. Current valuations, however, are 10-15 per cent lower than the 23.7 times at the end of the December 2007 quarter (when the Sensex was close to reaching its pre-Lehman highs) and 20 times at the end of the September 2009 quarter (when the post-Lehman rally happened). The surge in FII purchases in the current rally did not translate into higher valuations because domestic investors, including promoters, were net-sellers until March this year. In the past five years, there has been a steady decline in promoter holding due to a mix of the government's disinvestment in public-sector companies and fundraising by companies in cash-hungry and capital-intensive sectors like construction, infrastructure, metals

Mutual Fund exposure to bank stocks surges to Rs 63,000 crore in October New Delhi: Mutual fund managers raised their exposure in bank stocks to an all-time high of nearly Rs 63,000 crore in October this year amid a rally in the stock market. The move comes after fund managers dropped their investment levels in bank stocks in September, after raising it for seven consecutive months. According to the latest data available with Securities and Exchange Board of India, MF investments in bank stocks as on October 31 surged to Rs 62,718 crore, accounting for 19.91 per cent of the total equity assets under management (AUMs) of Rs 3.15 lakh crore. The previous high was in August this year when investment in the sector climbed to Rs 56,625 crore. In comparison, the MF industry's exposure to banking sector stood at Rs 55,398 crore in September this year. MFs had been raising their exposure to banking shares since January. Software was the second most preferred sector with MFs last m

Inflows in equity MFs hit second highest in sector's history India's equity mutual funds are cheering this year, with local investors coming back to the segment in droves. At Rs 38,770 crore, net inflows into equity schemes in the first seven months of 2014-15 have already exceeded those in all previous years, except the Rs 47,000 crore during 2007-08, the year when the previous bull market was at its peak. Net inflows of Rs 5,600 crore in October this year (Rs 5,427 crore in equity funds and Rs 173 crore in equity-linked savings schemes, or ELSS) took the total beyond the previous second-best — Rs 36,675 crore during 2005-06. According to industry experts, the outlook remains bullish. Milind Barve, managing director of HDFC Mutual Fund, said: "Clearly, there has been a strong return to equity as an asset class. The industry is witnessing such inflows after a gap of six or seven years. Investors are fast realising that they cannot afford to miss the segment."

A rare conversation between Ramkrishna Paramahansa & Swami Vivekananda READ IT LOUD TO FAMILY, it's one of the best message I have come across.... 1. Swami Vivekanand:- I can't find free time. Life has become hectic. Ramkrishna Paramahansa:- Activity gets you busy. But productivity gets you free. 2. Swami Vivekanand:- Why has life become complicated now? Ramkrishna Paramahansa:- Stop analyzing life.. It makes it complicated. Just live it. 3. Swami Vivekanand:- Why are we then constantly unhappy? Ramkrishna Paramahansa:- Worrying has become your habit. That's why you are not happy. 4. Swami Vivekanand:- Why do good people always suffer? Ramkrishna Paramahansa:- Diamond cannot be polished without friction. Gold cannot be purified without fire. Good people go through trials, but don't suffer. With that experience their life becomes better, not bitter. 5. Swami Vivekanand:- You mean to say such experience is useful? Ramkris

Axis and HDFC Bank to charge their own customers beyond 5 ATM transactions HDFC Bank and Axis Bank have decided to charge its own customers for more than five transactions at their Automated Teller Machines starting December 1, 2014. HDFC Bank will be charging Rs 20 for every financial transaction and Rs 8.5 for non-financial transaction (balance enquiry, mini statement). On the other hand, Axis Bank will charge Rs 20 for financial transactions and Rs 9.5 for non-financial ones. At other bank ATMs, the customers of these banks will be charged beyond three transactions. Earlier, five transactions were free at non-home bank ATMs. However, Axis Bank has made the 10 transactions free for its Prime Plus Savings Account and Prime Salary account holders. These account holders are mandated to have a minimum opening balance of Rs 1 lakh. For these account holders, first five transactions will be free at non-home bank ATMs. From this month onwards, State Bank of India has dec

�Nice message: I was cycling and noticed a person in front of me, about 1/4 of Km. I could tell he was cycling a little slower than me and I decided to try to catch him. I had about a km to go on the road before turning off. So I started cycling faster and faster and every block, I was gaining on him just a little bit. After just a few minutes I was only about 100 yards behind him, so I really picked up the pace and pushed myself. You would have thought I was cycling in the last leg of London Olympic triathlon . Finally,I caught up with him and passed him by. On the inside I felt so good. "I beat him" of course, but he didn't even know we were racing. After I passed him, I realized that I had been so focused on competing against him that I had missed my turn, had gone nearly six blocks past it and had to turn around and go all back. Isn't that what happens in life when we focus on competing with co-workers, neighbours, friends, family, trying to outdo

Indian bonds rise four sessions in a row Mumbai: Indian bonds rose for the fourth straight session, sending benchmark yields tumbling to a fresh 14-month low on expectations the central bank would cut policy rates as early as next month, while falling crude prices aided sentiment. Foreign investors continued to buy, with net purchases of Indian debt in the last 15 out of 16 trading sessions. On Monday, foreign institutional investors (FIIs) bought $15.85 million worth of bonds, as per regulatory data. The gains came despite the Reserve Bank of India's (RBI's) move to drain liquidity in the system through the sale of Rs.10,345 crore worth of debt via open market operations and call rates trading at 8.00/8.05%, signalling investors were not worried about cash flow. "At current levels, the market is factoring in a 25 basis point rate cut in the next policy," said Baljinder Singh, a senior dealer with Andhra Bank in Mumbai. "I don't see a sharp ral

      Now you can download forms of IFCI LTD from our link   http://59.144.72.251/IPOPDFGenWeb/brokerOnly.aspx       Please find attached Product Note/ and Term Sheet  for Public Issue of Secured Redeemable Non-Convertible Debentures by IFCI Limited     Thanks & Regards       -- Disclaimer: This email and any files transmitted with it are confidential and are solely for the use of the individual or entity to whom it is addressed to. Any use, distribution, copying or disclosure of it by any other person is strictly prohibited. If you receive this transmission in error, please notify the sender by replying to this email and then destroy the message. Opinions, conclusions and other information in this message that do not relate to official business of SMC and shall be understood to be neither given nor endorsed by SMC. Any information contained in this email, when addressed to SMC Clients is subject to the terms and conditions

As the government seeks to raise Rs.15,000 crore through the sale of residual stakes in ITC, Larsen and Toubro (L&T) and Axis Bank, it has received seven bids from fund houses for managing an exchange traded fund (ETF) created for this purpose. The Union government holds these shares through the Specified Undertaking of UTI (SUUTI). While ICICI Securities has been appointed as advisor for selection of a fund house for managing an ETF for monetising these SUUTI shares, people familiar with the matter said that at least seven bids have been received for the mandate. The bidders include SBI Mutual Fund, UTI MF, Reliance Asset Management Management, ICICI Prudential MF, Kotak MF, Birla Sun Life MF, and a consortium of Edelweiss and Sundaram Mutual Funds. The government had sold a 9% stake in Axis Bank held through SUUTI in March this year through the bulk deal on the stock exchanges. Formed in 2003, SUUTI is an offshoot of the erstwhile UTI (Unit Trust of India). The proposed ET

Beautiful...👌 Must read: Once, a Junior School teacher asked her students to bring some tomatoes in a plastic bag to school. Each tomato will be given a name of the person whom that child hates. Like this, the number of tomatoes will be equal to the number of persons they hate. On a decided day, the children brought their tomatoes well addressed. Some had two, some had three and some had even five tomatoes . Teacher said they have to carry tomatoes with them everywhere they go for a week. As the days passed the children started to complain about the spoiled smell of tomatoes . Students who had many tomatoes complained it was very heavy to carry. Teacher asked, "How did you feel this one week?" Children complained of smell & heavy weight of the tomatoes . Teacher said, "This is very similar to what you carry in heart when you don't like some people. Hatred makes heart unhealthy and you carry that hatred everywhere. If you c

              Thanking you