Author Archive

Motilal Oswal Mutual launches 4 index funds

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Motilal Oswal Mutual launches 4 index funds

Motilal Oswal Asset Management Company has launched four passively managed index funds — Midcap 150 Index Fund, Nifty 500 Index Fund, Nifty Bank Index Fund and Nifty Small-cap 250 Index Fund. The new fund offer of all these funds will be open till August 30 and the cost of managing fees is low as it…

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US import, export prices up in July

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US import, export prices up in July

U.S. import and export prices both increased in July, the U.S. Department of Labor reported on Wednesday. The price index for U.S. imports rose 0.2 percent in July, after a decrease of 1.1 percent in the previous month. Prior to June, prices for U.S. imports advanced in each of the first 5 months of 2019….

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Two years after MCG discovered property tax fraud, police are yet to submit report

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Two years after MCG discovered property tax fraud, police are yet to submit report

MCG officials on Saturday said that the Gurugram police are yet to complete their probe and, as such, no action has been taken in the matter. (HT image) Even two years after it was discovered that two employees of the Municipal Corporation of Gurugram (MCG) had allegedly changed the property type of 95 commercial properties…

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Why you shouldn’t rush to buy property in J&K

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Why you shouldn’t rush to buy property in J&K

Now that Article 35A, a law that debarred non-residents of Jammu and Kashmir from buying properties in the erstwhile state, has been revoked, people from other states can own immovable property in the newly carved Union territory. However, there’s not much clarity on how the move will pan out for investors. Two days after Article…

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US import prices unexpectedly rise, but trend remains weak

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US import prices unexpectedly rise, but trend remains weak

U.S. import prices unexpectedly rose in July, but the underlying trend remained weak, pointing to subdued imported inflation. The Labor Department said on Wednesday import prices increased 0.2% last month as a rebound in the cost of petroleum products offset declines in prices for capital goods and motor vehicles. Data for June was revised down…

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Kotak Special Situations Fund gets commitments worth $1 billion

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Kotak Special Situations Fund gets commitments worth $1 billion

Kotak Special Situations Fund, which aims to invest in distressed assets, has reached its final close with total commitments of $1 billion ( ₹7,000 crore) from investors, a top executive said. The fund, launched in February 2019, is anchored by a $500 million commitment from sovereign wealth fund Abu Dhabi Investment Authority (ADIA). The fund will be managed…

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Property tax: Mumbai’s flat owners, not buildings, to be taxed from now

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Property tax: Mumbai’s flat owners, not buildings, to be taxed from now

The city administration has decided to collect property tax from individual flats rather than entire buildings in a move anticipated to both hold the individual flat owner more accountable as well as facilitate the tax payment for Mumbaikars. The Brihanmumbai Municipal Corporation’s policy decision has been taken under section 155 of the Mumbai Municipal Corporation…

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Australian, Canadian pension funds pledge $2 billion in NIIF

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Australian, Canadian pension funds pledge $2 billion in NIIF

The National Investment and Infrastructure Fund Ltd (NIIF) Tuesday said it has received commitments of about $2 billion from AustralianSuper, Australia’s largest superannuation and pension fund, and Ontario Teachers’ Pension Plan (Ontario Teachers’), one of Canada’s largest single-profession pension plans. These include commitments of $250 million each into NIIF’s master fund, and co-investment rights of…

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Kashmir Article 370: Women cheer equal property rights

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Kashmir Article 370: Women cheer equal property rights

Bias ends against women who marry outsiders. Women in Jammu and Kashmir (J&K) can now buy real estate and transfer property to children, even if they get married to a non-resident as Article 35A has automatically become void with the scrapping of Article 370. Article 35A gives the J&K government the right to decide who…

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Article 370 revoked: J&K’s depressed property prices will shoot up 50%; locals to gain

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Article 370 revoked: J&K’s depressed property prices will shoot up 50%; locals to gain

The depressed property prices in Jammu and Kashmir will shoot up by up to 50 per cent because of the opening up of the realty market after the government’s decision to revoke Article 370. In Srinagar’s prime Pantha Chowk area, houses can be bought for as low as Rs 2,300 per sq ft. Besides local…

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75-year-old former journalist ill-treated by son, wills property to govt

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75-year-old former journalist ill-treated by son, wills property to govt

Distressed over the treatment meted out to him by his family, a 75-year-old former journalist, who lives in Muraripur village of Dasrathpur block, decided to name the state government as his property’s beneficiary. Former journalist Khetramohan Mishra has also expressed his wish that an old-age home to be built over his land. He has taken…

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Siddhartha saga: Property attachment is by no means tax terrorism

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Siddhartha saga: Property attachment is by no means tax terrorism

S Murlidharan In his yet-to-be authenticated letter to his staff, which many call his dying declaration, V G Siddhartha, the founder of Café Coffee Day (CCD), says among other things that he was constantly being pressured by a private equity player to buy back shares; and that he was hamstrung by the provisional attachment of…

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Invesco Oppenheimer fund to buy 11% stake in Zee Entertainment for ₹4,224 cr

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Invesco Oppenheimer fund to buy 11% stake in Zee Entertainment for ₹4,224 cr

New Delhi: US-based Invesco-Oppenheimer Developing Markets Fund has agreed to pick up 11% stake in Zee Entertainment Enterprises Ltd (ZEEL), the flagship media company of Subhash Chandra’s Essel Group. The stake sale will be for a total consideration value of up to ₹4,224 crore, the company said in a press statement. The proceeds from the stake sale will go…

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Why arbitrage mutual funds are becoming attractive

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Why arbitrage mutual funds are becoming attractive

They are an alternative to short-term debt funds offering better tax efficiency Arbitrage mutual funds, which are considered an alternative to short-term investment options such as liquid and ultra-short-duration funds, have been attracting investors’ attention of late. Data compiled from the Association of Mutual Funds in India show that assets under management (AUM) of arbitrage…

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