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Apr52020 by wealth18.comNo Comments

How to withdraw PF (advance) due to Corona virus crisis?

How to Series, PF

Govt has recently allowed to withdraw your PF early to help employees in Corona virus crisis., You can withdraw upto 75% of your saving. Read full details. In general circumstances,the EPFO allows account holders to take “non-refundable advance” or withdraw for specified purposes only such as a medical emergency, marriage, higher education or purchase of a house. See details in which scenarios normally you are allowed to withdraw early. But now you can withdraw due to Corona virus impact as well. How can I submit the request to withdraw my PF balance (take advance) You can submit the request online. To avail this facility, you should have UAN and Aadhaar and Bank number seeded in the EPFO database. See the details below as to how you can submit the withdrawal request online: Lo...

Apr22020 by wealth18.comNo Comments

RBI has announced 3 month relaxation / moratorium for Loans and Credit card dues

News

On account of Covid-19 pandemic, RBI has announced measures to mitigate the burden of debt servicing. Business or individuals may face loss of income or disruption in the Cash Flows, so these measures will help those businesses /individuals. The RBI has allowed all lending institutions to offer a moratorium to borrowers on repayment of all term loans for a period of 3 months. This moratorium also covered credit card dues. The moratorium was for payment of all instalments falling due between March 1, 2020 and May 31, 2020. However, it was also stated that "Interest shall continue to accrue on the outstanding portion of the term loans during the moratorium." According to the RBI, the deferred instalments under the moratorium will include the following payments falling due from March 1, 2020 ...

Apr22020 by wealth18.comNo Comments

SpiceJet – HDFC Trustee buys 5.45%

Stocks

HDFC Trustee Company has bought 3.4 crore shares of SpiceJet from the open market constituting 5.45% of the airline. The deal is approx Rs 120 crores. Rating agency CRISIL has downgraded the rating for Spicejet short term loans from "BB-" to "B" on significant deterioration of business risk profile. It has also cut the outlook in rating from positive to negative. In such times, HDFC Trustee's investment in SpiceJet is seen as a boost of confidence for the airline's management and investors.

Apr22020 by wealth18.comNo Comments

Theleme Master Fund picks up HDFC Bank shares worth Rs 280cr

Stocks

According to the block deal data available on NSE, Theleme Master Fund bought shares of HDFC Bank worth Rs 280 crore Theleme Master Fund is a UK-based hedge fund. The fund picked up more than 31 lakh shares for Rs 280 crores through open market. Morgan Stanley Asia (Singapore) PTE. - ODI sold these shares. On 2nd April.- HDFC Bank price is at Rs 830.

Apr22020 by wealth18.comNo Comments

Morgan Stanley buys 4 small-caps through bulk deals

Stocks

Global financial firm Morgan Stanley made as many as 4 purchases in small-cap stocks through bulk deals on NSE and BSE on March 30, data available with exchanges showed. The four stocks in which Morgan Stanley bought stocks were Kalyani Investment Company, (93000 shares @ 865.05 = Rs 8.04 crores) Nalwa Sons Investments, (53000 shares @ Rs 475.05 = Rs 2.52 crores) Summit Securities and (105000 shares @ Rs 233.50 = Rs 2.5 crores) Rajapalayam Mills (87000 shares @ Rs 458.05 = Rs 4 crores) Stock prices has been bit hard due to COVID-19 situation. The valuations are now attractive for long term investors. Source: MoneyControl

Apr22020 by wealth18.comNo Comments

Best Stocks to buy and build your portfolio for long term amid COVID-19 fall

Featured, Stocks

Most Nifty companies are hitting 52-week low amid COVID-19 fall - Are you scared to buy or are you tempted to buy? Most companies in Nifty has hot their multi year low . FIIs have pulled out approx INR 60000 crores from Indian market in March 2020, but DII has been buying. Note that these are uncertain times and markets can even go lower from here. So, you should think about buying only from long term perspective. Here are some of the good stocks that you can consider adding to your portfolio gradually. - Reliance Industries - HDFC Bank - HDFC - Bajaj Finance - Asian Paints - Colgate - Britannia - Dabur - L&T - Axis Bank - Titan - Cipla - Infosys - TCS Stocks for Long term Investments You can also consider the following stocks for long term investments: Dr Lal Pathlabs ICICI Secu...

Apr22020 by wealth18.comNo Comments

80C Investments deadline extended – some points for clarification

News, Taxation

Government has announced several measures to minimise the impact of coronavirus on the taxpayers and investors. As part of these measures, the Finance Minister has: extended the deadline for submitting belated ITR filing deadline for FY2018-19 to June 30 2020 extended the Aadhaar-PAN linking deadline to June 30, 2020. extended the timelines for making 80C investments for FY 2019-2020 from 31Mar2020 to 30June2020. After these announcements, there is some confusion over the tax issues. Following are some details to clarify such points of confusion: 1. Has FY2019-20 itself been extend to June 30 and whether the income in Apr - June 2020 will be taxable within FY 2019-2020? NO. The FY2019-20 will close on March 31, 2020 as usual. Only income till March 31, 2020, will be considered for...

Apr22020 by wealth18.comNo Comments

COVID 19 – EPF Withdrawal rules relaxed – can withdraw 75%

How to Series, News

To help employees in this COVID-19 crisis, Govt has relaxed the rules for PF withdrawal. EPFO subscribers can withdraw 75% of their savings or up to a maximum of 3 months' basic pay and dearness allowance from their PF account – whichever is lower. In general circumstances, the EPFO allows account holders to take “non-refundable advance" or withdraw for specified purposes only such as a medical emergency, marriage, higher education or purchase of a house. No certificate or documents are to be submitted by a member or his/her employer for availing the benefit. If you intend to withdraw money from your PF, then you can do it through: Online: Like claim for all other types of advances, the claim for this advance also can be filed online if your UAN is validated with Aadhaar and KYC of Bank ac...

Apr12020 by wealth18.comNo Comments

[How to] check PF balance online in India (5 ways – UAN, SMS, Missed Call, App)

Featured, How to Series, PF

EPFO (Employees Provident Fund Organisation) provides option to check you PF balance online. Once you enter your details, you will get your balance via SMS on your mobile number. Whether you want to check your PF balance for Delhi, Gurgaon, Noida, Hyderabad, Bangalore, Chennai, Gujarat, Mumbai, Andhra pradesh, Pune, Karnataka, Kolkata etc, you can use the steps below to get your balance via SMS. Please note that some big organizations have their own PF trust and they do not keep money with EPFO. In such cases, you cannot check the balance online by using EPFO portal. You need to contact your HR to know your PF balance. How much money goes in your PF Account? Employee Contribution – 12% of your Basic Employer Contribution – 12% of your Basic ( Out of this 8.33%...

Feb282020 by wealth18.comNo Comments

SBI Cards IPO – Analysis, Details, Review, Opening Date, Issue Price, Allotment Status, Listing

Stocks

SBI Cards IPO to open on March 2, 2020 The long-awaited initial public offering of SBI Cards and Payment Services, a subsidiary of the country's largest lender State Bank of India, is set to open for subscription. It will be the largest IPO after GIC IPO in 2017. State Bank of India owns 74% stake in the company and the rest 26% is held by CA Rover Holdings, an affiliate of the Carlyle Group. Issue Details of SBI Cards IPO: IPO Opens on 2 March 2020 IPO Closes on 5 March 2020 Issue Price band Rs 750 - Rs 755 Any Discount NA Issue Size Rs 10,354 crore Minimum Investment 19 shares Registrar Link Intime Book Running Lead Managers Axis, BoA, HSBC, Nomura, SBI Cap Listing BSE/NSE Download SBI Cards Red Herring Prospectus SBI Cards IPO Grey market Premium : 28...