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Tuesday, January 10, 2017

BSE launches mobile app for MF trading
Making trading in mutual funds more convenient for investors, top stock exchange BSE yesterday announced the launch of the 'BSE StAR MF' mobile application. The app is currently available to android mobile users. BSE runs the mutual fund trading platform —- BSE Star MF - the largest MF distributor platform in India with more than 4 lakh SIPs (Systematic Investment Plans) per month. "All mutual fund investors/ distributors/ registered investment advisers are hereby informed that the exchange is pleased to announce launch of BSE StAR MF mobile application," BSE said in a circular yesterday.

Dec qtr earnings of BSE-30 post note ban to stay flat: Kotak
December quarter earnings of the BSE-30 index post demonetisation is expected to remain flat on a year-on-year basis, along with earnings of several others which too may remain muted, says a report. According to Kotak Institutional Equities, while the December quarter earnings of Sensex companies are expected to stay flat on a yearly basis, on a quarter-on-quarter basis, it is likely to decline 2.3%. On the December 2016 quarter earnings preview, the report said, "We expect net income of the BSE-30 Index to be flat year-on-year and decline 2.3% quarter-on-quarter in October-December quarter of 2016-17."

LogiQuest, KCEP opens fifth centre in Mumbai
LogIQuest, a division of Thinkcell Learning Solutions, and a Kaplan Certified Education Provider (KCEP), announced the opening of its learning centre at Santacruz in Mumbai. Encouraged by the success in Hyderabad, Bangalore, Pune & Kolkata, LogIQuest is now venturing into Mumbai to provide In-Person training for standardized tests like GRE, GMAT, SAT etc with Kaplan Certified trainers, high quality study material and unmatchable & extensive online resources including and a first of its kind “Higher Score Guarantee or Money Back” scheme. Kaplan is the world leader in test preparation and offers courses for more than 90 standardized tests across 30 countries.

Tata Steel Q3 production up 28%
Tata Steel yesterday reported 28% growth in saleable steel production to 3.2 million tonnes (MT) for the third quarter of the ongoing fiscal on the back of ramp up its Kalinganagar plant. The production was 2.5 MT in the same quarter of the last fiscal, Tata Steel said in a filing to BSE. The company's crude steel production during the October- December quarter of 2016-17 also grew to 3.2 MT, against 2.5 MT in the year-ago period. Its sales grew to nearly 3 MT against 2.3 MT in the year-ago period.

JLL India Chairman, Country Head Anuj Puri resigns
Leading property consultant JLL India yesterday announced its Chairman and Country Head Anuj Puri has quit the company. The firm has appointed Ramesh Nair as its new CEO and Country Head with effect from March 1. He will report to JLL's Asia Pacific CEO Anthony Couse. "Anuj Puri, Chairman & Country Head of JLL India, yesterday announced his decision to leave the firm, simultaneously confirming that Ramesh Nair will take over as CEO and Country Head," JLL India said in a statement. Puri will move on from 28 February 2017, and Ramesh Nair assumes his new role on 1 March 2017, it added.

Locus enters Healthcare services
Intelligent logistics automation platform, Locus is now making logistics more efficient for healthcare services startups like 1mg. Locus manages logistics for online pharmacy 1mg and has managed to affect fuel cost savings of up to 25% for them. Locus helps 1mg optimize their deliveries by enabling efficient automation & optimization using their route planning engine for orders, live tracking and visualization on the dashboard using Locus app.

Mutual funds see Rs 2.86 lakh cr inflow in 2016
Investors have pumped in Rs 2.86 lakh crore into various mutual fund schemes in 2016, with 'liquid' and income funds attracting the most of the inflows. In the previous year, a total of Rs 1.77 crore was invested in various mutual fund products, according to the data by the Association of Mutual Funds in India (Amfi). "Investors may have seen the volatility of 2016 as a positive to average out costs. Retail investors also appear to have become savvier, using liquid schemes to either earn higher returns or to run Systematic Transfer Plan (STPs) into equity funds to average costs," said Srikanth Meenakshi, the COO at Fundsindia.Com.

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