Finance

SRF shares tank 14% as profit falls on finance & depreciation cost, debt increases

Shares of chemicals firm SRF plunged by as much as 14 percent on Friday after the company reported a decline in its March quarter net profit and an increase in its debt. The company’s net profit for the March quarter fell 4 percent year on year to Rs 124 crore, dented by higher finance and depreciation costs. Revenue from operations grew 21.5 percent ... Read More »

US Fed goes for 25bps rate hike in Jerome Powell’s 1st meeting as chairman

Jerome Powell, chairperson of the US Federal Reserve. The vote for an interest rate hike to 1.5% to 1.75% was a unanimous 8-0. Photo: Bloomberg New York: US Federal Reserve officials, meeting for the first time under chairman Jerome Powell, raised the benchmark lending rate a quarter-point and forecast a steeper path of rate hikes in 2019 and 2020, citing an ... Read More »

After years of shunning fixed maturity plans, Franklin Templeton re-enters the segment

Among the top 15 fund houses in terms of fixed income assets, 78.9% of Franklin Templeton’s fixed income assets lie in securities rated AA & lower; the most in such companies. What is special about Franklin Templeton Asset Management (India) Ltd launching a new fixed maturity plan (FMP)? On 20 March, it launched a new fund called Franklin India Fixed ... Read More »

Rupee trades higher against US dollar

The 10-year bond yield was at 7.595% compared to its previous close of 7.583%. Photo: Reuters Mumbai: The Indian rupee and Asian currencies on Thursday strengthened against US dollar after the Federal Reserve stuck to its outlook of three rate hikes this year. At 2pm, the home currency was trading at 65.05 a dollar, up 0.26% from its Wednesday’s close of ... Read More »

Finance Ministry invites fresh applications for the post of RBI deputy governor

MUMBAI: The Finance Ministry on Friday sought fresh applications from eligible candidates for the post of deputy governor which remains vacant after SS Mundra retired in July last year after a three-year term. The latest notice released in National dailies, says that the applicants should have an understanding of bankruptcy, restructuring, turn around and overseeing risk management functions in a large financial ... Read More »

15th Finance Commission Invites Public Suggestions By June 30

The 15th Finance Commission is supposed to submit its recommendations by October 30, 2019. NEW DELHI:  The 15th Finance Commission, set up to recommend the devolution of central pool taxes to states, as well as a fiscal consolidation roadmap for government finances, has invited suggestions from the public, according to the Union Finance Ministry on Thursday Headed by NK Singh, the ... Read More »

Buy Cholamandalam Investment & Finance Company, target Rs 1,485: Manas Jaiswal

Manas Jaiswal of manasjaiswal.com has a buy call on Cholamandalam Investment & Finance Company with a target price of Rs 1,485. The current market price of Cholamandalam Investment & Finance Company is Rs 1,417.10. Time period given by the analyst is ‘Intra Day’ when Cholamandalam Investment & Finance Company price can reach defined target. Manas Jaiswal recommended to keep a stop ... Read More »

Before choosing schemes, decide how much money you need for each goal and the time horizon

I’m not a regular investor. I have invested about Rs1 lakh in ICICI Prudential Value Discovery Fund, series 14; Rs20,000 each in Aditya Birla Sunlife Equity Fund, Axis Long Term Equity Fund, and SBI Magnum Multicap Fund; and about Rs10,000 in Franklin India High Growth Companies Fund. Please guide me on starting an SIP of about Rs40,000 per month. I ... Read More »

Hostel mess facility to attract 5% GST: Finance ministry

The CBEC has issued the clarification in view of queries regarding the tax liability and the rate of GST on services provided by a college hostel mess. Photo: Mint New Delhi: Mess facility provided to students and staff will attract 5% GST irrespective of whether it is provided by educational institution or outside contractor, the finance ministry said on Wednesday. The ... Read More »

Plan to construct finance dept. office buildings in all districts: Yanamala

Deputy Chief Minister N. Chinarajappa, Finance Minister Yanamala Ramakrishnudu, with Collector Kartikeya Misra in Kakinada on Sunday.   | Photo Credit: S_RAMBABU ‘Efforts are on to recruit employees in a phased manner’ The State government is planning to undertake construction of office buildings to the Finance Department in all the districts, besides ensuring permanent buildings to house the sub-treasury offices, according ... Read More »