Reliance MF Says Count Up 3-Times To 50,000 A Month
Showing a strong surge in retail investor interest, Reliance Mutual Fund has seen the number of its new 'Systematic Investment Plans' grow three-times to 50,000 per month. Mostly preferred by small investors, SIPs allows investment of a fixed and small sum on a monthly basis or other regular intervals in a mutual fund scheme. Reliance MF is run by Reliance Capital Asset Management Company (RCAM), which is part of Anil Ambani-led Reliance Group's financial services arm Reliance Capital.
Hero MotoCorp Promoter Sells 4% Stake
Hero MotoCorp Ltd promoter Brij Mohan Lall Munjal yesterday pared 4% stake in the company by selling seven million equity shares to 'fund new growth avenues'."In a major initiative towards diversification into fast growth areas, the BML Munjal-led Hero Group has divested seven mn equity shares in its flagship company Hero MotoCorp Ltd," Hero MotoCorp said in a statement. According to information available with BSE, the promoter stake in Hero MotoCorp stood at 39.92% at the end of December 2014.Following the sale, the over USD 5 bn Hero Group still holds a significant stake of over 36% in the company, the statement added. However, company officials declined to share the details of the transaction.
Quick Heal Releases Precautionary Advisory Report
The ICC Cricket World Cup 2015 has proved to be a lucrative avenue for hackers and scammers. Piggybacking on the huge fan following of this sporting event, cybercriminals can be easily expected to trick users who are looking forward to booking their tickets and planning their trips on the Internet. Fake ticket and travel deals on phishing and malicious websites including social networking sites are expected to come up. Considering all these potential risks, security experts at Quick Heal have released a precautionary advisory on their official blog. This advisory puts together a list of security tips to stay safe against phishing attacks and any online scams.
EPFO To Appoint Fund Managers Today, Raise Pension Age
Retirement fund body EPFO is likely to appoint fund managers today for a three year term from April 1 and raise age limit for vesting of pension by two years to 60. Both the proposals will be taken up for discussion and approval by the Employees' Provident Fund Organisation's apex decision making body - Central Board of Trustees (CBT) - as per the agenda listed for the meet. Asset management firms ICICI Securities Primary Dealership, Reliance Capital AMC and HSBC AMC have emerged as top bidders for managing huge corpus of the EPFO.
Bestdealfinance.com, ‘FinancialTech Super Mart’ Launched
The first ever portal to provide a technology enabled end-to-end solution to financial needs of Individuals and SMEs was formally launched yesterday. Bestdealfinance.com is a financial e-commerce portal. This FinancialTech Super Mart facilitates the best deals across wide range loans such as home loans, auto loans, business loans, loans against property, credit cards, healthcare and construction equipment financing. With a unique technology driven model, it aims to tap all customer segments be it digital savvy or the traditional Indian customer.
Snapdeal Expands Presence In Luxury Segment
Expanding its presence in the high-end fashion segment, online marketplace Snapdeal has acquired luxury fashion portal Exclusively.Com for an undisclosed amount. With this acquisition, the city-based firm that gets a little over USD 1 billion in gross merchandise value (GMV) from its fashion business expects this figure to touch USD 2 billion by the end of the current calendar year. According to industry insiders, Snapdeal's total GMV -- total value of goods sold -- is around USD 2 billion at present and fashion business accounts for over 60 per cent of the total volume.