Diversified funds underperform on higher cash; bank funds shine
NEW DELHI, April 4 (Reuters) – Diversified Indian stock
funds lagged the benchmark Sensex in March due to
higher allocation to cash and exposure to mid- and small-sized
companies.
Such funds posted an average return of 7.67 percent in the
month, lower than the 9.1 percent gains the Sensex registered,
data from global fund tracker Lipper, a Thomson Reuters company
showed.
Banking stocks struggle in trade
The BSE Banking index fell 0.8 percent on Friday, as the BSE Sensex ended its positive run of eight sessions to end marginally lower.
PNB was the top loser in the index, closing down 3.3 percent. Bank of Baroda ended down 1.7 percent. ICICI Bank, India’s No. 1 private lender, ended down nearly 1 percent.
L&T shares rise more than 2 pct
Shares in Larsen & Toubro gained 2.5 percent on Monday, helping Sensex post its 5th consecutive day of gains.
The stock ended at 1639.20 rupees and was the among top gainers of the 30-share Sensex.
BSE Auto index falls 2 pct
Auto stocks struggled in trade on Friday, as stocks like Exide Industries, M&M and Maruti Suzuki fell, pushing the sectoral index down 2 percent.
Exide Industries ended down 4.6 percent as the top loser in the auto index, followed by M&M which dropped 3.3 percent.
Capital goods stocks rise
The BSE Capital Goods index rose 2.35 percent on Thursday, with stocks like Punj Lloyd and BHEL posting smart gains.
Punk Lloyd closed 4.7 percent higher, BHEL gained 3.3 percent and L&T ended up 3.2 percent.
Mid-, small-caps dent diversified mutual funds in Feb
NEW DELHI (Reuters) – Diversified stock funds lagged the Sensex in February, as exposure to mid- and small-cap shares and sectors like capital goods hurt net asset values.
Diversified funds fell 4.66 percent on an average during the month, compared with a 2.75 percent fall in the benchmark, data from global fund tracker Lipper, a Thomson Reuters company, showed.
Mid-, small-caps dent diversified funds in Feb
NEW DELHI, March 3 (Reuters) – India’s diversified stock
funds lagged the benchmark index .BSESN in February, as
exposure to mid- and small-cap shares and sectors like capital
goods hurt net asset values.
Diversified funds fell 4.66 percent on an average during
the month, compared with a 2.75 percent fall in the benchmark,
data from global fund tracker Lipper, a Thomson Reuters
company, showed.
Current income tax slabs
Here are the current income tax slabs, applicabl for financial year 2011-2012. Watch this space for latest updates on income tax slabs in Budget 2011.
For a illustration of tax calculation for FY2011, click http://tinyurl.com/newtaxslabs
Banking index gains 1.5 pct
It was a good day for banking counters, as the banking index ended with gains of 1.5 percent in a Mumbai market that ended 200 points higher.
HDFC Bank was the top gainer in the index, ending up 4.15 percent, followed by IndusInd Bank which gained 2.4 percent. Federal Bank was the only stock in the index which ended in red.
Unitech shares jump more than 9 pct
Shares in Unitech, one of India’s leading real estate firms, rose 9.3 percent to close at 38.2 rupees, after a sell-off amid allegations that the firm was among those who were favoured in 2G licence grants in 2008.
On Tuesday, the CBI questioned Unitech’s MD as part of a probe into the alleged telecoms corruption scandal.
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