BSE, Twitter join hands to provide real time market updates
Leading stock exchange BSE has partnered with Twitter to provide real-time market updates on the social networking site through auto tweets and direct messages. "Twitter is the first international social media platform that the BSE is leveraging to enable millions of Indian investors to access stock-related information via digital platform with ease," the stock exchange said in a statement. People can follow the markets on Twitter through hourly tweets, auto-responder tweets for Sensex 30 stock prices, auto direct messages for opening and closing figures of Sensex and a 'live' display photo that will change every two minutes to project the Sensex figure and level.
PFRDA to hire 10 pension funds to manage pvt NPS schemes
Regulator PFRDA has proposed to hire 10 pension funds to manage corpus of private sector schemes under National Pension System (NPS). Introduced in January 2004, the NPS initially covered new entrants to central government services (excluding Armed Forces) and some state government services, but from April 2009 it was extended to all citizens of India including the unorganised sector workers on voluntary basis. Floating the request for proposal for the selection process, the PFRDA said the objective is to "appoint a maximum of 10 professional pension funds to manage the pension corpus of NPS excluding schemes under the NPS for central government and state government and other pension scheme namely Atal Pension Yojana (APY)."
PPFAS MF changes scheme name
PPFAS Mutual Fund, promoted by Parag Parikh Financial Advisory Services Pvt. Ltd. (PPFAS) has changed the name of its flagship scheme PPFAS Long Term Value Fund with effect from September 16, 2016. The only scheme offered by PPFAS Mutual Fund will now be known as Parag Parikh Long Term Value Fund. Neil Parikh, Chairman and CEO, PPFAS Mutual Fund said, “We have changed the scheme name to pay homage to our founder, late Mr. Parag Parikh, whose vision and actions have been instrumental in where we stand today. Given his standing and image in the industry, it has the potential to ensure better connect and recall among investors, as compared to the acronym.”
‘Invest in India’ the main agenda at electronica India 2016
electronica India and productronica India, the leading trade fairs for electronic components, systems, applications and innovative electronics production technology. Taking place at Bangalore International Exhibition Centre (BIEC), Bengaluru from 21-23 September 2016, the events will showcase innovative products, solutions and technologies combined with ample of learning and networking opportunities to the electronics manufacturing industry. With concurrent conferences, buyer-seller meets, B2G Meets and pavilions from Indian states and 6 countries, electronica India and productronica India are must attend events for the community.
Wrangler announces the Winner of True Wanderer 2016
Started in 2012, Wrangler’s True Wanderer has evolved into a community of like-minded bikers who share a common love for adventure and exploration. It continues to be an increasingly popular annual event for riders across the country to celebrate their love for the open road. True Wanderer Season 5.0 contest, organized by Wrangler in 2016, was bigger, better and bolder than ever before. Thousands applied to be a part of the journey and 10 lucky finalists were selected to go on the ride of a lifetime and were flagged off from Wrangler stores across 9 cities. The 10 riders were styled in Wrangler’s range of Sun Shield and Silver Shield apparel.
Laser World of Photonics India 2016
The 5th edition of LASER World of PHOTONICS INDIA, the only trade fair for the laser and photonics industry will take place in Bangalore from September 21 to 23, 2016 at the Bangalore International Exhibition Centre (BIEC). With around 140 exhibitors and 20 represented companies occupying 4,000 m² of exhibition space, the trade fair will include key industry players such as Advanced Photonics, Dynotech Instruments, IPG Photonics, Jenoptik, Merck, OptoTech, Sahajanand Laser Technology and TRUMPF, to name but a few. The phenomenal response from exhibitors and the anticipated 7,000 visitors are further confirmation of the growing stature of the trade fair as a global platform for the use of industrial lasers and optics in India.
Short term outlook challenging for Hindalco: Birla
Hit by oversupply and depressed prices of metals, the outlook for leading aluminium and copper producer Hindalco is "challenging" in the short term, its Chairman Kumar Mangalam Birla said. Besides, high imports will continue to impact sales of the flagship company of the USD 41 billion Aditya Birla Group, he added. Speaking at Hindalco's AGM, Birla said "Notwithstanding the strong operational performance, the short term outlook is challenging given the structural oversupply and depressed pricing scenario. The sharp increase in imports will continue to impact sales." However, on the positive side, he said demand in India is expected to be strong, as the firm sees an improved outlook on industrial and infrastructure growth.
MF exposure to bank stocks hits record high of Rs 1 lakh cr
Mutual Fund managers remained bullish on bank shares as they raised their allocation in the sector to an all time-high of over Rs 1.05 lakh cr at the end of Aug. In comparison, fund managers had pumped in Rs 81,634 cr in the banking shares in August last year. "The sector has outperformed the benchmark Sensex by around 5%. This could be the reason for the increase in the exposure," Quantum MF Associate Fund Mangager (Equity) Nilesh Shetty said.