By Rahul Satija Indian mutual funds are carving out their investments in troubled Vodafone Idea Ltd.’s debt into separate portfolios as they seek to limit any fallout from a possible default by the telecom carrier. UTI Mutual Fund and Nippon Life India Asset Management have moved to ring-fence their holdings in Vodafone Idea’s debt on Monday after credit assessor Care Ratings Ltd. downgraded the carrier’s borrowings, statements from the companies show. Last month, Franklin Templeton Mutual Fund also segregated the company’s debt. India’s top court has asked the nation’s mobile carriers to deposit a combined $13 billion in past dues for spectrum and licenses in a month, rejecting their plea for extended payment. Vodafone Idea, which owes the government the most among its peers, said its ability to continue as a going concern depends on whether the court will modify a previous order that had set Jan. 24 as the deadline for payment. After a series … [Read more...] about Default fear pushes funds to ring-fence Vodafone Idea debt
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I am currently investing Rs 1,000 each in the following schemes:SBI Banking & Financial Services FundTata Banking & Financial Services FundAxis Long Term Equity FundSBI Small Cap FundI have an investment period of at least 20 years in mind. Are these schemes good?-Bishal Das You are currently investing in two thematic schemes, a tax-saving scheme, and small cap scheme. Though your two thematic schemes are performing well, we do not recommend thematic schemes to retail investors as sectors and themes can get in and out of fashion in different phases in the economy. However, banking and finance theme is a prominent theme in the Indian stock market and almost every mutual fund scheme has significant investments in it. You should be aware about the extra risk you take while betting on a scheme that is dedicated exclusively to a theme or sector. Small cap schemes are extremely risky and they can also be very volatile. That is why these schemes are recommended only to investors … [Read more...] about Am I investing in good mutual funds?
Pal, who was in Mumbai to visit his daughter, complained of chest pain at the airport during his return to Kolkata and was rushed to a hospital in Juhu but died around 4 am, family sources said. He had been suffering from heart ailments and been to hospitals several times for treatment over the past two years. … [Read more...] about Arrested in Rose Valley Chit Fund Scam, Tapas Pal Struggled to Clean up His Image Before His Sudden Death
Pune: Jai Hind high school walks to take the field after setting up target of 174 runs for the loss of four wickets in 17 overs – one will notice a girl comes along with them and take her field position at mid-off during the PDCA under-14 Kohinoor PDCA cricket tournament at Law College, ground on Friday. … [Read more...] about PDCA cricket: Jai Hind high school score one-sided win
Zuma: This is the world’s least successful Zuma. I can’t work out why it is always empty but if you do like Zuma’s fabled food, then this is the branch to go to. The cuisine is up to global standards and you never have to worry about booking a table in advance: just walk in! At the St.Regis, which is owned by the famous Thai-American billionaire Bill Heinecke, who often eats here himself. … [Read more...] about The Taste with Vir Sanghvi: The 28 best restaurants in Bangkok, Thailand