Saturday, Feb 24 2018 | Time 13:44 Hrs(IST)
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  • PM Modi to visit Puducherry tomorrow
  • Germany issues travel advisory after WO-18 hockey win
  • Pakistan land of saints, not terrorists: PM Abbasi
  • CFI announces Indian cycling team for Commonwealth Games 2018
  • Pak to go on FATF Greylist in June
  • Rajnath Singh to participate in Mahamasthakabhisheka tomorrow
  • Time is money, says EC prez on EU budget
  • Despite rain, Kashmir highway through for one-way traffic
  • Polling begins on a peaceful note for Bijepur Assy byelection
  • Sugar rates steady in Kolhapur market today
  • Airtel and Motorola partner to offer 4G smartphones starting at Rs 3999
  • Militants attack Afghan army post killing 18 soldiers
  • US imposes 'heaviest sanctions' on DPRK
  • Man stabbed to death, three injured
  • Sensex rises by 131 39 points on firm global cues
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Govt launches BHARAT-22 Exchange Traded Fund, targets initial amount of Rs 8K cr

New Delhi, Nov 14 (UNI) The Government launched on Tuesday the BHARAT-22 Exchange Traded Fund (ETF) managed by ICICI Prudential Mutual Fund targeting an initial amount of about Rs 8,000 Crore.
This New Fund Offer is open till November 17, 2017. The Units of the Scheme will be allotted 25 per cent to each category of investors. In this ETF, the Retirement Fund has been made separate category of Investors. In case of spill-over, additional portion will be allocated giving preference to retail and retirement funds. There is a 3 per cent discount across the board.
According to a Finance Ministry release, the strength of this ETF lies in the specially created Index S&P BSE BHARAT-22 INDEX. This Index is a unique blend of shares of key CPSEs,Public Sector Banks (PSBs) and also the Government owned shares in blue chip private companies like Larsen & Tubro (L&T), Axis Bank and ITC.
The shares of the Government companies represent 6 core sectors of the economy - Finance, Industry, Energy, Utilities, Fast Moving Consumer Goods (FMCG) and Basic Materials. This combination makes the Index broad-based and diversified. The Sector and Stock exposure limits help in risk management and reduction of concentration, providing stability to the Index.
The strength of the Index has been demonstrated in its performance from the time of its launch in August 2017 wherein it has out-performed the NIFTY-50 and Sensex.
The Index constituents include leading Maharatanas and Navratanas such as Coal India, GAIL, Power Grid Corporation of India Ltd. (PGCIL), National Thermal Power Corporation (NTPC), Indian Oil Corporation Ltd., Oil & Natural Gas Corporation (ONGC), Bharat Petroleum, and National Aluminum Company (NALCO), three Public Sector Banks such as SBI, Bank of Baroda apart from the 3 private sector companies mentioned earlier.
The Government of India is undertaking a number of Key Economic Reforms which is driving growth in these sectors of economy. The major reforms such as mentioned below for which market expert believe will fuel the growth in the economy and may benefit the underlying stocks in ETF.
Through this instrument, the Government of India is divesting multiple stocks spread across various sectors in one bundled instrument thereby reducing over hang on individual stocks and maximizing sale proceed for the Government.
This is expected to benefit long term and retail investors by providing an opportunity of participation in equity stocks of the Government run companies and earn stable returns.
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Kottayam-Kochi Rubber Market Rates

24 Feb 2018 | 1:06 PM

Kottayam, Feb 24 (UNI) Following were the Rubber Market rates
announced by the Rubber Board here today per quintal


RSS FOUR Rs 12400
RSS FIVE Rs 12100



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Sadbhav Engineering Ltd declared L1 by NHAI for road project in UP

Sadbhav Engineering Ltd declared L1 by NHAI for road project in UP

24 Feb 2018 | 1:01 PM

Mumbai, Feb 24 (UNI) Sadbhav Engineering Ltd said that company has
been declared the successful bidder (L1) by National Highway
Authority of India (NHAI) for the project/works on EPC Mode.

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Wholesale prices of Oils, Sugar, Commodities in APMC Market

24 Feb 2018 | 1:00 PM

Bengaluru, Feb 24(UNI) Following were the wholesale prices in the Bengaluru market on Saturday.

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Sugar rates steady in Kolhapur market today

24 Feb 2018 | 12:46 PM

Kolhapur, Feb 24 (UNI) The prices of M 30 and S 30 grades of sugar
remained steady in Kolhapur sugar market today at Rs 3180/3200 and
Rs 3080/3100 per quintal respectively.

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Airtel and Motorola partner to offer 4G smartphones starting at Rs 3999

24 Feb 2018 | 12:46 PM

Mumbai, Feb 24 (UNI) Teelcom Major, Bharti Airtel and Motorola
Mobility India, today announced a partnership to offer a range of
budget friendly 4G smartphones under Airtel's 'Mera Pehla
Smartphone' initiative.

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