OTCEI to shift blue-chip stocks to national segment
Under-performing scrips on the Over the Counter Exchange of India (OTCEI) are likely to get a fresh lease of life. The OTCEI is planning to shift some scrips from the listed segment to the national market segment (NMS). The first scrip to be shifted to the NMS will be that of Aryan Pesticides which had recently applied for the same.
Malaysian markets still seen facing uncertainty
Experts have stated that Malaysian markets are yet to recover from the after-effects of the recent currency crisis witnessed across Asian markets. The Malaysian currency, the ringitt, is yet to show signs of stabilising, according to the experts, who have predicted that it will take some more time before the markets can fully recover from the impact of the crisis.
Damani urges Unit Trust to float more schemes to boost sentiment
Financial institutions like UTI should introduce mutual fund schemes aimed at investments in turnaround scrips, urged BSE President MG Damani. He said the revival of investors' confidence in the capital market depended on how efficiently these surplus funds are channelised into the market.
Open-ended income funds may see NAVs dip
In one blow, the Reserve Bank of India has taken the sheen off open-end income funds, which have been caught unawares. The impact, however, will be only in the short-term as higher interest rates would now give funds an opportunity to invest the mobilised moolah in better yielding securities.
It's depositors' interest again, at zero risk
The new year seems to have rung in opportunity for retail investors in the country. After a poor year in 1997 when interest rates fell sharply, the market is again looking up. The RBI also helped by raising the bank rate from 9% to 11%, a move that may also raise medium-term and long-term rates in the system.
Still a year away from redemption, MasterPlus may well be your goldmine
MasterPlus '91, the seven year growth scheme from UTI, is approaching redemption in March, 1999. The stock is available at Rs 17.00 on the NSE at a discount of 24.21 per cent to its net asset value of Rs 22.43. If the NAV remains constant, this would mean a 31.94 per cent return over the next fifteen months with long term capital gains tax benefit.
