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Indian Gold Prices Quoted At Rs. 45,680/10 grams, On Oct 6

Personal Finance

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Personal Finance

oi-Kuntala Sarkar

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Today, on October 6, Indian gold prices are at a moderate position now. Today, 22 carat gold rates are quoted at Rs. 45,680/10 grams and 24 carat gold rates are quoted at Rs. 46,680/10 grams, same as yesterday. But in some of the major cities like Delhi, Bangalore, Chennai, Kolkata, and Pune, gold rates have fallen marginally. Ahead of the festive season, the gold rates can fall by a tad again, amid US tapering concern. Yesterday, the Institute for Supply Management (ISM), has released the US service sector data showing a ‘stronger than expected momentum in September’. The non-manufacturing index showed a reading of 61.9% in September, which is higher than August’s reading of 61.7%. Hence the gold rates dropped marginally. Also, the White House said that they are having full confidence in Jerome Powell’s Fed monetary policy. These have helped the US dollar index to hike and moved gold rates lower.

Indian Gold Prices Quoted At Rs. 45,680/10 grams, On Oct 6

The Comex gold future fell by 0.64% and was quoted at $1749, while the spot gold prices fell by 0.72% and were quoted at $1748/oz today till 2.24 PM IST. On the other hand, the US dollar index in the spot market hiked by 0.33% at 94.30 at the same time today. In India, the Mumbai MCX gold in October future fell by 0.36% than yesterday and was quoted at Rs. 46590/10 grams till today 2.34 PM IST. Gold prices are again being stagnant at the $1750 level as the US dollar index is rising marginally.

Gold rates in different Indian cities are quoted differently, daily. Today’s gold rates in major Indian cities follow:

City 22 carat (INR/10 Grams) 24 carat (INR/10 Grams)
Mumbai 45,680/- 46,680/-
Delhi 45,750/- 49,910/-
Bangalore 43,600/- 47,560/-
Hyderabad 43,600/- 47,560/-
Chennai 43,920/- 47,910/-
Kerala 43,600/- 47,560/-
Kolkata 46,000/- 48,700/-

At present, US stocks are rising considerably, and US 10 years Treasury yields are increasing more than 1.55%. So, it is being a tough time for gold prices to gain significantly, but the metal has been able to stay at a moderate quotation. However, investment bank Jefferies Group mentioned, “Gold and Bitcoin remain essential hedges as the threat of stagflation – an environment of low growth and higher inflation – continues to grow.” The bank later added, “Still, in the near-term gold will remain vulnerable to tapering concerns”

Story first published: Wednesday, October 6, 2021, 14:57 [IST]



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IDBI bank unveils attractive offers this festive season, BFSI News, ET BFSI

Banking & Finance

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IDBI, on account of its foundation week, is now introducing its retail asset products this festive season.

The products would include Auto loans, Education loans, home loans with augmented features.

To fall in line with the auspicious period of time, IDBI has revealed its ‘i_zoomdrive’ loans that will allow quick processing, luring interest rates, zero penalties on part/ pre-closure and 100% financing for certain segments for its customers.

The bank has attempted to strengthen young Indians’ education by launching ‘i_learn’.

This product allows the customer to avail a plethora of education courses including specialised courses, overseas courses with higher loan amount, high tenure or flexible repayment options.

Home loans, IDBI announced, would now have additional features like nil processing fees, flexible repayment options and quick processing to aid one’s dreams of owing a house.

With these offerings, IDBI believes that its products would resonate with the festive and auspicious vibe in each household.



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Bharatpe enters ‘Buy Now Pay Later’ segment

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BharatPe on Wednesday announced its entry into the Buy Now Pay Later (BNPL) category with the launch of ‘postpe’.

“Customers can download the postpe app from Play Store and avail interest-free credit limit of up to ₹10 lakh,” it said in a statement, adding that postpe is not limited to big-ticket purchases, but can also be used for micro-purchases. BharatPe aims to facilitate a loan book of $300 million on postpe in the first 12 months, for its lending partners.

Also read: Leading companies come together to set up Merchants Payments Alliance of India

Ashneer Grover, Co-Founder and Managing Director, BharatPe said, “postpe is a product built on three simple principles: Consumer should be able to pay using credit everywhere – QRs, Card Machine or Online; consumer should be able to convert into EMI at ease – not inconvenienced at point of sale and merchant should not be charged for accepting payments through BNPL.”

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SBI extends partnership with TCS for another 5 years

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Tata Consultancy Services (TCS) on Wednesday announced that its long-standing client State Bank of India (SBI) has extended its partnership for another five years.

SBI has been using TCS BaNCS for over two decades now. As a part of the new contract, TCS will continue to maintain and enhance SBI’s application estate around core banking, trade finance, financial reporting, and financial inclusion with new features and functionality. This will support the bank’s ability to launch newer offerings and respond to business and regulatory changes.

Digital solutions for Gen Next banking

In addition, TCS will continue to leverage its contextual knowledge of SBI’s business and technology landscape to help the bank with large transformation programmes to help its customers make their day-to-day banking easy and secure. In the most recent such engagement, TCS is helping build Bharat Craft — an omnichannel, online B2B e-commerce platform which would serve as a marketplace for MSMEs, jointly driven by SBI and the Government of India.

As fintechs turn up the heat, banks must up their tech game

Prior to that, TCS collaborated with SBI to execute the simultaneous merger of five associate banks and Bharatiya Mahila Bank. The colossal undertaking involved integrating over 200 business processes, over 43 IT applications, 17,500 products, and over 50 billion database records, impacting over 50,000 tellers across 7,000 branches. Immaculate planning and execution ensured accomplishment of all goals, without any interruption to services, in just six weeks, TCS said.

‘Valuable partner’

Ravindra Pandey, DMD & CIO, SBI, said, “Technology and innovation have been at the core of SBI’s growth and transformation journey over the last two decades. TCS has been a valuable partner since the beginning and has supported us in building and running a high-performing, resilient and scalable core banking platform that is foundational to all our digital initiatives. We are pleased to extend our relationship with TCS as we continue to work together to launch new initiatives for enhanced customer experience.”

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5 Mutual Fund Owned Small Cap Stocks That Turned Multibaggers In The Last 1-Year

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1. Intellect Design Arena:

The computer software entity is engaged in creating financial technologies for banks that help them lead businesses. The company is a small cap scrip commanding a market cap of Rs. 9265 crore. The stock’s 52-week high price is Rs. 892.

As of August 2021, the stock of Intellect Design has been held by 8 mutual funds and this has reduced from June 2021 when it was held by 9 funds. Nippon India Small Cap fund has the highest number of shares in the company at 1,225,370 as of August 2021.

2. Tejas Networks:

2. Tejas Networks:

Tejas Networks is a global enterprise, founded in the year 2000. The company products include optical gears, wireless-for LTE/5G wireless broadband access as well as Ethernet switches for building crucial infrastructure.

Shares of the company are held by Nippon India Small Cap Fund – Growth and Edelweiss Small Cap Fund Regular Growth

This is again a small cap scrip with m-cap as of October 6, 2021 at Rs. 5586 crore.

3. Balaji Amines:

3. Balaji Amines:

Balaji Amines Ltd., INDIA, an ISO 9001: 2015 certified company is specialised in manufacturing Methylamines, Ethylamines, Derivatives of Specialty Chemicals and Pharma Excipients. Other than this the company is also into manufacturing derivatives that are downstream products for several Pharma /Pesticide industries apart from user specific requirements.

This is again a small scrip company with m-cap of Rs. 15.155 crore.

As of August 2021, the scrip is held by 5 mutual funds while 1 of the mutual fund bought stake into it. Motilal Oswal Nifty 500 Fund Regular Growth was the highest buyer of 8 shares in Aug 2021, while Nippon India Nifty Smallcap 250 Index Fund Reg Gr was the highest seller of 41 shares in Aug 2021 constituting 0.00% of the paid up equity of the company.

4. Tanla Platforms:

4. Tanla Platforms:

Headquartered in Hyderabad, Tanla Platforms Limited earlier called Tanla Solutions Ltd. is a cloud communications company. The company provides value-added services in the cloud communications space.

As of the August month of the ongoing year, the stock is held by 5 mutual funds in total. BOI AXA Flexi Cap Fund Regular Growth was the highest buyer of 4,000 shares in Aug 2021, while Nippon India Nifty Smallcap 250 Index Fund Reg Gr was the highest seller of 307 shares in Aug 2021.

Tanla Platforms command a market cap of Rs. 11,753 crore

5. CG Power and Industrial Solutions Limited:

5. CG Power and Industrial Solutions Limited:

Part of the Murugappa Group, based out of Mumbai, the company was restructured in 2016 after the demerger of its consumer goods business. The company’s product line includes transformers, pump, HT & LT Motors, DC Motors, Railway Signaling.

The stock is owned by as many as 14 mutual fund as on August 2021, wherein Motilal Oswal Midcap 30 Regular Growth was the highest buyer of 1,250,000 shares in Aug 2021, while HDFC Flexi Cap Fund Growth was the highest seller of 4,118,586 shares in the same month.

Disclaimer:

Disclaimer:

The above list is collated to give an idea about how mutual fund holding in a stock can be lucrative for the stock. Do note here in there is no recommendation given to buy these counters as returns mentioned are past returns and do not guarantee future performance.

GoodReturns.in



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Multibagger: This Realty Firm Stock Rose Over 700 Percent In Last One Year

Personal Finance

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Planning

oi-Sneha Kulkarni

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Arihant Superstructures, founded in 1983, is a Small Cap firm in the Real Estate industry with a market capitalization of Rs 694.57 crore.

The Mumbai-based company stated in a regulatory filing that its board of directors approved a capital raise of up to Rs 500 crore through the issue of securities. Arihant Superstructures, a real estate developer, intends to raise up to Rs 500 crore through the issuing of securities.

Multibagger: This Realty Firm Stock Rose Over 700 Per cent In Last One Year

Company Stock Details

The stock returned 209.0 percent over three years, compared to 87.37 percent for the Nifty Smallcap 100. Over a three-year period, the stock generated a return of 209.0 percent, compared to 147.63 percent for Nifty Realty. In the fiscal year ended March 31, 2021, the company spent 10.4 percent of its operating revenues on interest charges and 4.41 percent on labor costs.

The company achieved an 831-unit sales booking, showing a strong sales velocity. Surprisingly, over 76% of the company’s FY21 sales were reached in H1FY22.
Today, the stock reached a new 52-week high. Arihant Superstructures Limited’s stock last traded at Rs. 161.6 on the BSE, up from its previous closing of Rs. 148.55.
Since August 27, 2009, Arihant Superstructures Ltd. has declared 11 dividends. In the most recent quarter, the company generated a net profit after tax of Rs 8.28 crore.

In the last year, this real estate company has grown by nearly 700% and the Year-to-date return is over 400%.

Parameter Values
Market Cap (Rs. in Cr.) 708.78
Earning Per Share (EPS TTM) (Rs.) 3.35
Price To Earnings (P/E) Ratio 51.40
Book Value Per Share (Rs.) 26.49
Price/Book (MRQ) 6.50
Price/Earning (TTM) 49.01
ROCE (%) 3.08
PAT Margin -2.41

Story first published: Wednesday, October 6, 2021, 13:42 [IST]



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4 Tips For Investing In Gold, In October

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Concerns About Gold Rates

The first point will certainly be on the gold pricing ground. Gold rates have again reached above $1760/oz prices in the international markets so, Indian gold rates are gaining again and 22 carat gold prices are staying around Rs. 45,700/10 grams. Gold prices depend on the US dollar index, US Fed’s monetary policy, and the country’s economic developments. Yesterday the Institute for Supply Management (ISM), US released the service sector data which has shown ‘stronger than expected momentum in September’. The non-manufacturing index showed a reading of 61.9% in September, which is higher than August’s reading of 61.7%. The forecasts for the same was around 59.9%, but the figures improved in reality.

US Fed Tapering Timeline

US Fed Tapering Timeline

However, the gold prices might be under pressure for some time in the latter half of October, as the investors will be concerned about the US Federal Reserve tapering timeline. But importantly, September’s employment data is yet to be released which will influence US Federal Reserve to fix their tapering timeline. An early tapering will drag gold rates down, and vice versa. Already US’s inflation is staying at 30 years’ high level at 4.3%. This is an affirmative time for gold prices, but the situation can flip at any time. So, investors and buyers should follow the US employment data next week to have a better idea about upcoming gold rates, in October. Present US Debt ceiling is another point an investor should follow because it will influence the US Dollar index.

Choose Virtual Gold

Choose Virtual Gold

This point is for the investors who are interested to invest in gold for diversifying their portfolio and make better returns. These investors should always choose virtual gold over physical gold. Virtual gold options like gold ETF, Sovereign Gold Bond (SGB) by RBI, digital gold, gold funds are very safe gold options just like other company stocks and mutual funds. If you do not have any compulsion to buy gold jewelleries, then certainly opt for virtual gold. You can buy gold ETF from your mobile mutual fund app, and digital gold any time from Google pay or PhonePe. Additionally, the RBI will also release SGB purchase notice. Virtual gold offers you liquidity at any time, and also you can enter and exit from the investment according to your preferences.

Gold Hallmarking Is Important

Gold Hallmarking Is Important

This point is for those who are looking forward to particularly gold jewelleries. You must be sure that you are buying Hallmarked gold jewelleries. Many people will be buying gold for auspicious occasions like marriage, etc. This should be noted by them. Hallmark determines the purity of gold like 18 carat, 22 carat, or 24 carat. At present, the union government has implemented stringent regulations regarding gold hallmarking and directed all the jewellers to hallmark their golds, for better customer assurance. If you are not buying hallmarked gold jewelleries, then you might face losses at the time of resale. Later if you need liquidity and want to sell your gold at the market prices, then you might not get the same if your gold jewelleries are not hallmarked and filled with impurities. Hallmark is a government BIS mark that will give you full assurance of your jewellery’s authenticity.



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Reserve Bank of India – Press Releases

Press Releases

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I. T-Bill 91 days 182 days 364 days
II. Total Face Value Notified ₹10,000 Crore ₹3,000 Crore ₹7,000 Crore
III. Cut-off Price and Implicit Yield at Cut-Off Price 99.1404
(YTM: 3.4777%)		 98.2350
(YTM: 3.6033%) 		96.2681
(YTM: 3.8872%)
IV. Total Face Value Accepted ₹10,000 Crore ₹3,000 Crore ₹7,000 Crore

Ajit Prasad
Director   

Press Release: 2021-2022/991

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The case for being boring with your money, BFSI News, ET BFSI

Banking & Finance

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The idea of gaining wealth in flashy ways isn’t new. After all, Charles Ponzi, for whom Ponzi schemes were named, defrauded investors more than 100 years ago with a get-rich-quick scheme built on a foundation of lies. Today, speculative investments, multilevel marketing companies and other risky efforts to turn a profit still lay seductive traps.

You can always leave your money alone in an interest-bearing account and let time do its thing, but that doesn’t exactly make for exciting party conversations, does it? So we open and close accounts. We invest in hot stocks and sell them at the first sign of bad news. We mess with our money because, in our minds, growing wealth is supposed to take effort.

“In almost everything else we do, there’s a payoff to activity: If I want to be a good runner, I should run every day. If I want to be a good painter, I should constantly practice,” Morgan Housel, partner at The Collaborative Fund and author of “The Psychology of Money,” said in an email. “But if you want to be a good investor, the best thing by far for people to do is not trade, not tinker, just leave it alone – and I think that’s just so counterintuitive because it’s so unique to investing.”

In a world full of financial influencers peddling products and friends bragging about buying NFTs, it’s perfectly fine to manage your money in a mostly yawn-inducing way. Here’s why.

BEING BORING GIVES YOU MORE TIME TO LIVE YOUR LIFE

Dealing with your money is a necessary chore, and it’s not exactly fun. Thankfully, we live in efficient times. In a few minutes, you can set up automatic money transfers that quietly send your cash into separate accounts serving different purposes. Why keep money management on your to-do list when it can happen on its own quite literally while you sleep?

“Money is a means by which you live your life, not life itself,” Meg Bartelt, financial planner and founder of Flow Financial Planning, said in an email. “The more complicated, changeable or scary your investments are, the more time you spend working on them or thinking about them, and therefore the less time you have to live life.”

BEING BORING KEEPS YOU FROM MAKING RASH DECISIONS

It’s important to take a peek at your investment accounts periodically, but obsessing over every market move is exhausting and counterproductive. It can lead to making reactive decisions that hurt your wealth in the long run.

Choosing to be boring with your money is an exercise in letting go of the illusion of total control. Yes, there will always be round-the-clock financial news, but not everything happening in the larger economy affects you as an individual. Turn off news and stock market alerts on your phone so you no longer feel that itch to react. Instead, mindfully decide when to watch the news and check on your accounts so you can stay informed with less stress.

WHAT BORING MONEY MANAGEMENT LOOKS LIKE

– CREATE A PLAN YOU (MOSTLY) STICK TO: Bartelt finds that, whether her clients avoid their money or obsessively track it, it’s because they all feel the same emotion: fear. The antidote is a financial plan based on specific goals and values. “Having a plan is reassuring,” she said. “Once they have the plan, or hell, once they know they’re going to have one, people relax.” Base your savings and investing goals on what you intend to spend money on in the short-, medium- and long-term. Leave wiggle room for life changes and other uncertainties, because those are guaranteed to happen.

– PREPARE FOR EMERGENCIES: There’s nothing particularly sexy about emergency funds, life insurance and up-to-date wills, but should the unexpected happen, these things can help you stay financially steady.

– AUTOMATE YOUR MONEY: Transfer funds automatically from checking to savings or from checking to a brokerage account. Contributing to a 401(k) through your job is automation, too, since that money comes out of your paycheck directly. Making regular contributions to different accounts, and increasing them as your budget allows and goals shift, will grow your nest egg.

Once you have your boring financial foundation in place, you can sprinkle on some riskier investments if you want. But remain faithful to your plan. “You have to actively and continuously ignore the ubiquitous distractions, charlatans, and blowhards in order to stay true to your own values and goals,” Bartelt said.

______________________________________

This column was provided to The Associated Press by the personal finance site NerdWallet. The content is for educational and informational purposes and does not constitute investment advice. Sara Rathner is a writer at NerdWallet. Email: srathner@nerdwallet.com. Twitter: @SaraKRathner.

RELATED LINKS:

NerdWallet: What Is a Financial Plan, and How Can I Make One? https://bit.ly/nerdwallet-financial-plan



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3 Board Meetings For Bonus Issue, Stock Split And Quarterly Results & 2nd Interim Dividend

Personal Finance

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1. Medico Remedies:

The company is a pharmaceutical formulation manufacturing entity with manufacturing and marketing capabilities in formulation and focus chiefly on anti-infective, Beta-Lactums.

The company in an exchange filing on September 30,2021 announced that its board will consider bonus issue. Medico Remedies informed BSE that the meeting of the Board of Directors of the Company is scheduled to be held on October 07, 2021 to recommend and approve issue of Bonus shares to the equity shareholders of the Company. Other than that the company will also transact some of the other dealings such as consider increase in the authorized share capital, approval for the proposal of Migration of Company from SME platform of BSE to Main Board of BSE Limited as well as on the Main Board of NSE Limited etc.

Medico Remedies second quarter earnings are also expected on October 7, 2021. The company’s 52-week high price hit today is Rs. 312.3 per share.

2. Earum Pharmaceuticals

2. Earum Pharmaceuticals

The company incorporated in the year 2012 is a Small Cap scrip with a market capitalization of Rs. 135 crore. The company into the pharma business is involved in marketing, trading and distribution of wide range of pharmaceutical formulation products such as anti-biotic drugs, anti-malarial drugs, anti-allergic & anti cold drugs, analgesic/ anti-pyretic & anti inflammatory drugs, dermatology products, cerebral activator drugs, neurological drugs, gastro intestinal drugs, steroids, gynecology drugs, calcium, multivitamins, anti-oxidants and injections. Other than this, the company also deals in the trading of APIs or active pharmaceutical ingredients.

The company via BSE filing dated September 23, 2021 informed that the board meet is scheduled for October 8 to consider proposal of split/ sub-division of Equity Shares of the Company.

Note: A stock split is a corporate action in which a company divides its existing shares into multiple shares to boost the liquidity of the shares.

3. TCS:

3. TCS:

Tata Consultancy Services, the global leader in IT and consulting services offers a range of services from cloud, analytics and insights, blockchain to cyber security and quality engineering among others.

The company’s board meet is scheduled for October 8, 2021 wherein the main agenda remains announcement of second quarter earnings and second interim dividend for the FY22.Earlier the tech company declared an interim dividend of Rs. 7 per share for which the stock turned ex-dividend on July 15, 2021.

GoodReturns.in



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