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Key Trigger Points for Market
All eyes in the market will be on Friday's nonfarm payrolls data, which will provide new clues on how well the US economy is recovering and how fast the Federal Reserve might unwind its stimulus programme, which it began to taper last month, and how long it will keep its interest rates low.
Before Friday's jobs report, investors will focus on the minutes of the Fed's December policy meeting {for insights on the voting members' stance on the bond-buying programme, known as quantitative easing } ,due out on Jan 8 thursday.
India will release November factory output on January 10, the first important data ahead of the Reserve Bank of India's monetary policy review on January 28.
Industrial output data, IIP, will be followed by the more important December consumer and wholesale inflation data in the week starting Monday, January 13, amid widespread expectations food prices have substantially eased last month.
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FinMin to give in-principle approval for UTI Mutual Fund IPO soon
FinMin to give in-principle approval for UTI Mutual Fund IPO soon
Country's oldest fund house UTI Mutual Fund may revive its initial public offer (IPO) plan after Finance Ministry's nod which is expected soon.
"There is proposal for IPO of UTI Mutual Fund and the Finance Ministry is looking at it. The Ministry after consideration can give in-principle approval for public offer," sources said.
Government has stake in the UTI Mutual Fund through public sector banks and insurance companies. State Bank of India, Punjab National Bank, Bank of Baroda and LIC holding stake in UTI Mutual Fund on behalf of government of India.
State Bank of India, Punjab National Bank, Bank of Baroda and LIC jointly owns 74 per cent stake in the fund house while remaining 26 per cent stake is with the US-based investment firm T Rowe Price.
In 2008, UTI Asset Management Company deferred its IPO ownin g to uncertain market conditions. The fund house had proposed to sell 4.8 cror
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