August, 2014 - Wealth18.com

Aug282014 by wealth18.comNo Comments

IIFL – 12 Bluechips that can give upto 45% return over next 2 years

Stocks

Indian equities have already seen net FII inflows of USD 13 billion in 2014 and tipped to touch USD 20 billion by end of this year. . With inflation expected to moderate, and the new government taking several steps to kick-start stalled growth, the brokerage - IIFL has selected 12 large-cap stocks, which it believes are extremely attractive even at current levels . These 12 recommendations manifest IIFL sectoral preference for domestic cyclicals (financials, auto, infra, etc) and a more cherry-picking approach within other sectors, Each of these 12 large caps can potentially deliver 35‐45 percent returns over a period of two years. Target price over 2 years CMP as on 28-Aug-14 Potential Upside HCL Technologies 2202 1626 35% Hindustan Zinc 230 165 39% ICICI Bank 2...

Aug282014 by wealth18.comNo Comments

RBI allow to open Bank Accounts without valid documents

News

The Reserve Bank of India has recenlty allowed that small accounts with banks can be opened even without officially valid documents. In a circular posted on its website, the banking regulator has said that a small account can be opened on the basis of a self-attested photograph and putting the prospective account holders' signature or thumb print in the presence of an official of the bank. However such accounts will have restricted transactions facilities. Aggregate credits will not be more than Rupees one lakh in a year. While aggregate withdrawals are not to exceed Rs 10000 in a month and balance in the accounts cannot be more than Rs 50,000 at any point in time. These small accounts would be valid normally for a year after which such accounts would be allowed to con...

Aug262014 by wealth18.comNo Comments

EPF Interest rate for 2014-2015 set at 8.75% on PF Deposits : EPFO

News, PF

EPFO's trustees today decided to retain interest payment on provident fund deposits for 2014-15 at 8.75% The decision to retain the interest rate on the provident fund deposits at last year's level was taken despite some protest by the trade union members of the CBT The final notification for payment of the interest rate for the current fiscal will be issued by the Finance Ministry later. The EPFO had provided 8.75 % rate of interest on PF deposits for 2013-14, which was higher than 8.5 % paid for the previous fiscal

Aug212014 by wealth18.comNo Comments

LIC Bonus rates for 2013-2014

Insurance

LIC has declared bonus rates for its plans for year 2013-2014. See the details below: Plan Term Reversionary & Interim Bonus (per 1000) Whole Life 2,5,6,8,10,28 ( before conversion), 35,36,37, 38,49,77,78,85,86 70 ENDOWMENT TYPE 14,17,27& 28( After conversion), 34, 39, 40, 41, 42, 50, 54, 79, 80,81, 84, 87,90,91,92,95,101,102, 103,109,110,121. 10 & less 34 11 to 15 38 16 to 20 42 21 & above 48 Plan 88,89,48 15 & less 40 16 to 20 44 21 & above 48 Plan 133 15 & less 40 16 to 20 45 21 & above 50 Money Back & Anticipated 24,25,26,73,74,75,76 & 93 12 & 15 32 20 39 25 44 Jeevan Surbhi 106,107,108 15 34 20 41 25 50 JEEVAN ANAND - 149 premium paying upto 10 years 36 ...

Aug212014 by wealth18.comNo Comments

Quantum Long-Term Equity Fund (G) – Details & Review

Mutual Funds

Quantum Long-Term Equity Fund (G) is EQUITY - LARGE CAP Mutual Fund. This Scheme is RANKED 1 in this category for Qtr Mar-2014. This in an Open Ended Scheme with inestment objective to achieve long-term capital appreciation by investing primarily in shares of companies that will typically be included in the BSE 200 Index. Fund Category Equity - Large Cap Asset Size (Rs cr) 272.92 (Jun-30-2014) Fund Type Open Ended Minimum Investment 5000 Launch Date 25-Feb-06 Entry Load NA Fund Manager Atul Kumar / Nilesh Shetty Exit Load On redemption/switchout within 6 mths of allotment - 4%, > 6 mths < 12 mths - 3%, > 12 mths < 18 mths - 2%, > 18 mths < 24 mths - 1%, > 24 mths - Nil. Annualise...

Aug72014 by wealth18.comNo Comments

EPFO re-initate process to club allowances with basic pay, ordered inspection

News, PF

August 2014, EPFO has asked its over 120 field formations to inspect firms which are deducting PF on 50 % or less of total wages. In a bid to deal with issue of splitting of wages by employers, field offices told to inspect establishments that may be structuring salaries in such a way as to cut PF liabilities The employers often split wages into different allowances to reduce their PF liability and also increase the take home pay of their workers. The provident fund is deducted as 12 % of basic wages. According to the order, the exercise of inspecting the firms deducting PF on 50 % or less of total wages, must be completed by August 31. The EPFO headquarters have asked the field formations to submit a report in this regard by September 7. It observed in the order that "many employers...

Aug52014 by wealth18.comNo Comments

HDIL – Merill Lynch buys 30 lakh shares for Rs 29 crores

Stocks

05-Aug-2014 - Merrill Lynch Capital Markets Espana today picked up over 30 lakh shares of real estate player Housing Development and Infrastructure Ltd (HDIL) for nearly Rs 29 crore through the open market route. A total of 30,50,000 shares of HDIL were acquired by the Merrill Lynch Capital Market arm, bulk deal data with the stock exchanges showed. The shares were acquired for an average price of Rs 94.73 apiece, bringing the transaction value to Rs 28.89 crore. Earlier this year, On June 27, 2014, Citigroup Global Market Mauritus Private Limited bought 40,00,000 shares at Rs 94.05 n the NSE. ( Read Post) 5/4/2014 - Nomura Singapore Limited bought 44,11,000 shares of Housing Development and Infrastructure at Rs 67.45. (Read Post) 27/Mar/2014 - Kotak Securities p...