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Investor wealth drops Rs 3.30 lakh crore as equity markets tank

Investor wealth drops Rs 3.30 lakh crore as equity markets tank

Finance
New Delhi: Investor wealth on Tuesday fell by Rs 3,30,408.87 crore after equity markets came under heavy selling pressure following sell-off in global stocks as rout in crude oil hit investor sentiment. The Sensex tumbled 1,011.29 points, or 3.20 per cent, to close at 30,636.71. Led by the sharp fall in the index, the market capitalisation of the BSE-listed companies dropped Rs 3,30,408.87 crore to Rs 1,20,42,172.38 crore. "After the US crude oil crash, Indian markets, in sync with global markets traded negatively, as the extent of the impact of lockdowns and the global slowdown is becoming evident. Corporate earnings have also been impacted by the pandemic related shutdowns. Post-earnings management guidance has also not given clear indication about the recovery path," Vinod Nair, head of...

Key Features & Benefits of Investing in Axis Long Term Equity Fund

Finance
Play SlideshowELSS_Regulatory_Info23 Jan, 2020ELSS Regulatory InfoInvestors are constantly looking for efficient tax saving investment schemes which can help them earn some extra income too. If you have an appetite for risk and saving taxes is on your mind, then you can consider investing in Equity Linked Saving Scheme or ELSS. ELSS is a tax saving investment scheme which will not only help you save tax but also increase your chances of building wealth in the long run. What are these unique features offered by Axis Mutual Fund’s ELSS scheme? Let’s find out: When you invest your hard-earned money in Axis Mutual Fund’s ELSS scheme you get tax savings up to Rs. 46,800* and chance of building wealth in the long run. ELSS is an open-ended equity linked saving scheme with a statutory lo
5 Reasons to choose Equity Linked Saving Scheme (ELSS) Fund

5 Reasons to choose Equity Linked Saving Scheme (ELSS) Fund

Finance
ELSS Regulatory InfoWhen you invest your hard-earned money in the equity market, there are chances that you might lose some of it. But if you choose your investment wisely and invest for the long term, you might be able to make some profits. If your investment objective is to save tax and try and earn some extra income over the long term, then you can consider investing in Equity Linked Saving Scheme (ELSS). ELSS is a mutual fund investment scheme that primarily invests in equity and equity-related instruments. There are a lot of other elements that make ELSS an option for anyone who wants to save tax and build a corpus in the long run. Here are 5 reasons to opt for an ELSS scheme: 1. ELSS has tax benefits As stated earlier, ELSS is a tax saving mutual fund scheme. As per Section 80C of...
Investors in India hope to see tax on equity gains scrapped

Investors in India hope to see tax on equity gains scrapped

Finance
By Nupur Acharya, Moxy Ying and Ronojoy MazumdarRemoval of the long-term capital gains tax and measures to boost consumption are high on equity investors’ wish list from India’s federal budget due Feb. 1. With the economy facing its worst growth, investment and jobs crisis in more than a decade, Finance Minister Nirmala Sitharaman needs to offer support for individuals and businesses. The scope may be limited, however, amid concern over a larger than projected deficit. “The government cannot afford to tighten the belt too much,” Hartmut Issel, head of APAC Equities at UBS Global Wealth Management, said by email. Still, the administration is in “no mood to hand out very significant packages,” he added. Here are the key areas where market participants are looking for action, along with poten
ABSL Mutual Fund launches Aditya Birla Sun Life PSU Equity Fund

ABSL Mutual Fund launches Aditya Birla Sun Life PSU Equity Fund

Finance
Aditya Birla Sun Life Mutual Fund has launched the Aditya Birla Sun Life PSU Equity Fund, an open-ended equity scheme that will follow the PSU theme. According to a press release, the new scheme will focus on investing predominantly in Public Sector Undertakings (PSUs) or companies where the government is a majority shareholder with at least 51% shareholding. The new fund offer is open for subscription. It will close for subscription on December 23. The minimum application amount required is Rs 500 and in multiples of Re 1 thereafter, during the New Fund Offer period. The fund house said they believe that the PSUs which dominate many key sectors of the economy would grow in the coming time, especially in industries where setting up a new business unit requires huge capital, regulatory cl...