ETFs catch on: Daily average value on NSE surges 70x in 10 years
Posted on 11th July 2015 |
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| Even though many investors in India prefer active funds, passively managed funds have seen an upsurge in demand. Recent data from the National Stock Exchange (NSE) indicates that, exchange traded funds (ETFs) have seen huge uptick in volumes in the last decade. Daily average value in ETFs on NSE which used to be less than a crore a day has surged to around Rs 70 crore in the last 10 years. An official statement released by the NSE on Friday shows that in terms of daily turnover, ETFs showed a jump of 2.5 times from Rs 7.8 crore to Rs 19.75 crore from Q3 to Q4 of financial year 2014-15. During the last ten years, Nifty-based ETFs have given a return of 15%, making them one of the most attractive investment avenues for retail and small-time investors, official statement said. “ETFs are a wonderful product for retail investors in particular. Over the years, ETFs based on Nifty and other products have given investors significant returns. Globally people look forward to such products and currently NSE offers 42 ETFs,” said Ravi Varanasi, chief business development of the National Stock Exchange. ETFs are traded just like stocks and hold assets like stocks, gold or bonds close to their asset value and can be bought with investment of less than R100. The daily liquidity and fees for ETFs is also lower than mutual funds. NSE has 47 different kinds of ETFs listed including ETFs on gold, banking and Central Public Sector Enterprises (CPSE) among others. Data shows that allocation of retail and high networth individuals (HNI) in assets under management (AUM) has increased from R1,102 crore in March 2014 to R1,656 crore in March 2015 on the NSE platform. |
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Bharti Airtel defers Q2 results till Nov 14 over ambiguity on AGR verdict
Posted on 29th October 2019 |
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Bharti Airtel said on Tuesday it has postponed its second-quarter earnings report to mid-November, as the wireless operator sought clarity on the court ruling asking telecom firms to cough up overdue payments to the government.
Shares of the company, which was expected to release its quarterly numbers later in the day, dropped 3.3 per cent in early trade. |
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Rupee slips 8 paise vs US dollar in early trade amid drop in oil prices
Posted on 7th October 2019 |
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The rupee on Monday opened eight paise lower at 70.96 against the US dollar amid drop in crude oil prices and rise in Asian equities. The domestic unit on Friday closed almost flat at 70.88 against after the Reserve Bank of India (RBI) in a widely expected move cut key interest rates by 0.25 percentage point. On a weekly basis, the local unit slumped by 32 paise. |
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LIC pips private insurers in first-year premium growth during April-August
Posted on 13th September 2019 |
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In the first five months of the current financial year, first-year premiums of life insurance companies grew by 39.84% (year-on-year) at Rs 1.05 lakh crore as compared to Rs 75,588.35 crore in April-August of 2018-19. Life Insurance Corporation of India (LIC) continued to grow at a faster pace compared to private insurance players, shows the data from the Insurance Regulatory and Development Authority of India (Irdai). |
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Apollo Hospitals rules out further stake sale
Posted on 13th September 2019 |
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Apollo Hospitals Enterprise (AHEL) has ruled out further dilution of promoters’ stake in the company. The company also said its Rs 1,337-crore stake sale of Apollo Munich Health Insurance with mortgage major HDFC will be concluded by October. Following these stake sales, the promoters’ pledged position will come down from a high of 76% to 54% by October and eventually to 20% by November or December, company sources said here. |
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World trusts India on Kashmir, not us: Pakistan minister Ijaz Ahmed Shah
Posted on 13th September 2019 |
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In a major embarrassment for Pakistan and its Prime Minister Imran Khan, the country's Interior Minister Ijaz Ahmed Shah, a retired brigadier, said the international community didn't believe Pakistan's narrative on Kashmir; instead it is India whose version is trusted. |
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