Money on the markets
A maturing market amid the mayhem
The BSE Sensex rose more than 17 percent in 2010, to be among the best-performing major Asian markets this year. Most investors expecting the rally to continue.
Shares in Reliance Industries, India’s top listed firm, lost 2.8 percent in 2010., while ONGC shares added 9.8 percent.
TCS was a star performer, ending with gains of 55.3 percent. Infosys rose 32.2 percent in 2010.
Among sectors, it was a bad year for realty index which lost nearly 26 percent. The BSE IT Index rose 31.6 percent, while the BSE Oil & Gas Index gained 1.24 percent.
Shares in Hindustan Unilever jumped 3.5 percent on Wednesday to close at 304.55 rupees on a newspaper report in the Mint that the company had put a property in Mumbai for sale.
The asset was expected to fetch 2.2-2.5 billion rupees to the largest maker of household products and consumer goods.
Shares in A2Z Maintenance and Engineering Services made a peculiar trading debut on Thursday – opening above the issue price of 400 rupees per share on one exchange, and lower on another – before closing sharply down.
The counter opened at Rs 500 on the NSE, but immediately slipped below its issue price and ended 17.9 percent lower at 328.15 rupees. On the BSE, it closed 12.3 percent down at 328.90 rupees.
Shares of Ispat Industries rose more than 13 percent on Wednesday after JSW Steel made an open offer to acquire up to 20 percent stake in the firm at 20.54 rupees a share.
On Tuesday, JSW Steel said it would buy 41.3 percent stake in Ispat for $476 million to expand capacity.
Shares in Hero Honda gained 18 percent on Monday to close at 1981 rupees, ending as the top Sensex gainer, as Bank of America-Merrill Lynch raised its rating on the firm, with worries over the financial impact from Honda’s exit from their India motorcycle JV subsiding.
This was the best single-day gain in at least two years for the stock.
After market hours on Thursday, Hero Honda chief executive Pawan Munjal said Hero’s royalty payment to Honda would start declining from next year.
So you are in your mid 30s and invest regularly in mutual funds, but are you worried about having a retirement plan in your portfolio than can take care of life after 60?
If yes, the basic questions that would be bothering an individual are — How much money is needed at retirement? How should I build that corpus? How will I get a monthly income to sustain my lifestyle post-retirement?
Shares in Hero Honda dropped as much as 9 percent on Wednesday, after a TV news channel reported the board of its Indian partner has approved the termination of the joint venture with Honda Motor.
Hero Corporate will acquire Honda Motor’s 26 percent stake in Hero Honda, for $1 billion to $1.2 billion, the channel said citing unnamed sources.
Shares in Reliance Communications rose 2 percent on Monday after it announced the launch of its third-generation (3G) mobile services in four cities.
The second-largest mobile operator said it would cover all its 13 zones by next March and investors hoped the new service would boost the company’s earnings potential.
The BSE Sensex fell 2.3 percent on Thursday, with banking shares leading losses as fears of foreign funds’ withdrawals in the absence of any positive trigger weighed on investors’ minds.
State Bank of India and ICICI Bank led the decline in the broader market, dropping 4.3 percent and 4.4 percent respectively.