While the market is trading in a narrow range, the downside is limited, says Harsha Upadhyaya, CIO-equity at Kotak Mutual Fund. He advises investors to place bets where earnings growth is more visible than the overall market. However, he is not investing aggressively at the moment and has a cautious stance on the market in the near-term. Upadhyaya says there is buying interest at lower levels and domestic institutions are getting good money, also EPFO money is getting invested. According to him, the second quarter numbers were disappointing, but a gradual recovery in earnings on account of a favourable base is likely. Upadhyaya believes the commentary from the IT space has been disappointing in the last few months on its commentary. Below is the verbatim transcript of Harsha Upadhyaya’s interview with Latha Venkatesh & Sonia Shenoy on CNBC-TV18. Latha: A word on the general market mood. Is 7,740 proving to be a decent kind of support for the market? Are you a buyer on dips? A: Market lacks triggers on either side. It’s stuck in a small range. As far as our interest goes, we continue to place our bets on some of the areas where earnings growth is still a bit more visible than the overall market. Having said that we are not aggressively investing our inflows into the market; we are cautious in terms of investing. As we see more opportunities in case of volatility in the market, we would look at those opportunities. Sonia: You said the market is stuck in a lower range now but what about the lower end of this range. Do you see it hold the recent lows of 7,500 or is there a larger possibility of that lows breaking anytime soon? A: It is difficult to predict short-term market movements. Having said that at lower levels there is definitely buying interest, the domestic institutions are getting decent inflows, Employees Provident Fund Organisation (EPFO) money is getting invested in the market at all levels. So I would say that after having corrected about 15 percent from the top, now valuations are more reasonable, so to that extent the downside should be limited in the market at this point in time.
L&T Mutual Fund has announced dividend under the dividend option & direct plan-dividend option of L&T Tax Advantage Fund and L&T India Prudence Fund. The record date for declaration of dividend is November 24, 2015. The quantum of dividend on the face value of Rs 10 per unit will be: L&T Tax Advantage Fund: Rs … Continue reading
Date Fund Fund Abbreviation NAV Chg Chg % 20/11/2015 PUBLIC ADVANTAGE GROWTH EQUITY FUND PAVGEF 0.2534 0.0005 0.20% 20/11/2015 PUBLIC AGGRESSIVE GROWTH FUND PAGF 0.6112 0.0017 0.28% 20/11/2015 PUBLIC ASIA ITTIKAL FUND PAIF 0.3221 0.0004 0.12% 20/11/2015 PUBLIC AUSTRALIA EQUITY FUND PAUEF 0.2658 -0.0025 -0.93% 20/11/2015 PUBLIC BALANCED FUND PBF 0.6607 0.0024 0.36% 20/11/2015 PUBLIC … Continue reading
Mutual Fund managers remained bullish on equity markets and purchased shares worth a staggering Rs 52,000 crore in the first seven months of the ongoing financial year. This is on top of Rs 40,722 crore already invested by them in the entire 2014-15 – the first net inflow in six years for an entire fiscal … Continue reading
The asset under management for Axis Mutual Fund has jumped 35 percent to around Rs 36,000 crore so far in the current fiscal. “In March 2015, our AUM was about Rs 26,600 crore and now it is about Rs 36,000 crore,” Axis Mutual Fund managing director and chief executive Chandresh Nigam said here today at … Continue reading
Date Fund Fund Abbreviation NAV Chg Chg % 18/11/2015 PUBLIC ADVANTAGE GROWTH EQUITY FUND PAVGEF 0.2529 -0.0004 -0.16% 18/11/2015 PUBLIC AGGRESSIVE GROWTH FUND PAGF 0.6095 -0.0023 -0.38% 18/11/2015 PUBLIC ASIA ITTIKAL FUND PAIF 0.3203 -0.0023 -0.71% 18/11/2015 PUBLIC AUSTRALIA EQUITY FUND PAUEF 0.2620 -0.0001 -0.04% 18/11/2015 PUBLIC BALANCED FUND PBF 0.6585 -0.0034 -0.51% 18/11/2015 PUBLIC … Continue reading
Date Fund Fund Abbreviation NAV Chg Chg % 12/11/2015 PUBLIC ADVANTAGE GROWTH EQUITY FUND PAVGEF 0.2533 0.0001 0.04% 12/11/2015 PUBLIC AGGRESSIVE GROWTH FUND PAGF 0.6139 0.0004 0.07% 12/11/2015 PUBLIC ASIA ITTIKAL FUND PAIF 0.3259 0.0031 0.96% 12/11/2015 PUBLIC AUSTRALIA EQUITY FUND PAUEF 0.2612 0.0014 0.54% 12/11/2015 PUBLIC BALANCED FUND PBF 0.6627 0.0022 0.33% 12/11/2015 PUBLIC … Continue reading