Thursday, August 27, 2009

NHPC IPO Allotment basis

NHPC IPO which was oversubscribed during the period 7/8/2009 to 12/8/2009 and priced at Rs. 36 per share the allotments are out.

Those applying for full quota of 2625 shares have been firm allotment of 713 shares per application.
Those having a minimum allotment have been allotted 175 shares in the ratio of 14:51

Monday, August 24, 2009

Dividend by Reliance Mutual fund in ELSS as well as two other schemes

Following are the dividend declared by Reliance Mutual Fund in respective schemes.

1. Reliance Banking Fund 20 per cent
2. Reliance Pharma Fund 15 per cent
3. Reliance Tax Saver (ELSS) Fund 15 per cent

Record Date : 28/08/2009

Thursday, August 13, 2009

Retail Subscription of NHPC is 3.8730 times Which means you will roughly be allotted 25% of shares applied for

As per the data on NSE website,NHPC LIMITED was subscribed more then 23 times of the issue, but for retail investor important piece of data is not the overall subscription but the Subscription number of Retail category which has been subscribed 3.87 times as shown below, data taken from
3 Retail Individual Investors (RIIs) 490631900 1900194450 3.8730

This means that if you will be allotted roughly 25% of number of shares applied for (100/3.87= 25%approx) .
For e.g if you have applied for full shares(2625 * 36 ) Rs 94500. Your chance of confirmed allotment is about 25% which brings to Shares in range 650 to 700.
for somebody who has applied for minimum lot of (175 * 36 = Rs 6300). There should be either lottery based allotment of 1 application for 4 applications applied, or there can be uniform allotment of 45 shares each application.

Monday, August 3, 2009

After the ban on Entry Load , exit load kicks in MF industry

After the SEBI bringing the ban on Entry loads in Mutual Funds which was earlier 2.25% on most Equity oriented Mutual Funds being implemented from 1st August 2009. Most Mutual Fund houses are now bringing in Exit Load to compensate some what for the loss of it.

Recently many Fund houses has announced change in there charge structure. most of them are increasing the tenure of exit load from 1 year to 3 years now with an exit load of 1% being charged if you exit an MF scheme before completion of 3 years.

Many schemes which did not have any exit load at all are incorporating the exit load of 1%.
some MF houses have variable exit load structure like if your withdraw before 1 year exit load is 3% , withdrawal between 1year and 2 year will extract 2% exit load and withdrawal between 2nd and 3rd year exit load is 1% and withdrawal after 3 years no exit load.

All this changes will be implemented on new investments registered after 1st August 2009. Even in case of SIP registered after 1st August 2009 new rules will apply and SIP registered before 1st August 2009 old rules will apply.

Hence many of the people who have enrolled for SIP before 1st August 2009 it is advisable to stop your old SIP and register new SIPs with the same funds.

Get Wealthier and Wiser !

Sunday, August 2, 2009

Top 5 Mutual Funds for month of July 2009

Top performing ELSS Mutual fund for the month of July 2009
1) DBS Chola Tax Advantage Sr-1
2) Bharati AXA Tax Advantage
3) ICICI Pru Tax Plan
4) Sundaram Tax Saver
5) Quantum Tax Saving

Top Performing Diversified Equity Mutual Fund July 2009
1) Tata Select Equity Fund
2) ICICI Pru Discovery Fund
3) UTI Master value Fund
4) Birla SL Oppurtunities Fund
5) Tata Equity P/E Fund