Slack is where the daily action happens. We take pride in our diverse and always helpful member community which includes value investors, fund managers, and professional traders. Here is a brief summary of some of the interesting things discussed there in the last few days. Find all older ones here.
#general: Financial tasks you should complete before 31 March
In India, Financial Year is from 1 Apr to 31 Mar of the next year. So FY 2016-17 which is AY 2017-18 is from 1 Apr 2016 to 31 Mar 2017. Before the deadline of 31 March 2017 one needs to finish some financial tasks. This article talks about what financial talks one should complete before 31 March. Be Money Aware
Big banking consolidation begins. @TheOfficialSBI merger with 5 associates gets cabinet nod @ETEconomyNews
— deepshikhas (@deepshikhasET) February 15, 2017
#bonds: DSP BlackRock stops fresh flows in Micro Cap Fund
DSP BlackRock Investment Managers has decided to temporarily suspend fresh transactions in DSP BlackRock Micro Cap Fund, an open-ended equity growth scheme, with effect from February 20. The Hindu
NASSCOM defers giving guidance for FY18 to next quarter. pic.twitter.com/JCAkKOUPOh
— BloombergQuint (@BloombergQuint) February 15, 2017
#bonds: 3 signs that tell you to sell a mutual fund
Look at these as early-warning signals, which you can utilize to reach a decision faster. Livemint
Banking and PSU Debt Funds: A good bet in volatile times https://t.co/HeABLNAGHA pic.twitter.com/yMibiBiD1K
— Business Line (@businessline) February 15, 2017
#general: Small savings schemes are currently offering better returns than bank FDs
The interest rate on the PPF is almost 60 basis points higher than it should be and the Senior Citizen’s Saving Scheme offers 8.5% instead of 8.1%. RBI says these high rates prevent banks from attracting deposits. This in turn prevents the reduction in policy rates to translate into lower lending rates. Economic Times
Read Ed Thorpe make mincemeat of the Efficient Market Hypothesis in Chapter 26 of his new book. #mustread https://t.co/xSGFlM8A4G
— Uptickr (@uptickr) February 15, 2017
#general: Tackling distressed loans: Bad bank is not a bad idea after all
When the chief of the nation’s biggest bank says “anything that will help to put these stressed accounts into becoming standard would be welcome,” it reflects the exasperation of bankers in solving the festering bad loans problem. Economic Times
#stocks: At first, Infosys didn’t record minutes of Rajiv Bansal severance pay meeting
Infosys chairman R. Seshasayee says putting on record Rajiv Bansal’s severance pay is a ‘housekeeping’ issue and not a cause for concern. Livemint
#stocks: TCS board to consider buyback on February 20
India’s largest software company, TCS, confirmed this morning it would consider doing a buyback on February 20, in line with recent calls by investors that IT companies look for ways to return excess cash to shareholders. Money Control
#bonds: Facility for buying back fractional Units of Liquid BeES
RBI withdraws restrictions placed on buying HDFC Bank shares by FIIs! The stock to watch tomorrow
— Saloni Shukla (@salonishuklaET) February 16, 2017
#general: The Wall Street Journal to close Google loophole entirely
Starting Monday, it’s turning off Google’s first-click free feature that let people skirt the Journal’s paywall by cutting and pasting the headline of a story into Google. The Journal tested turning off the feature with 40 percent of its audience last year. Digiday
#macronomics: In Beef Over Bank Notes, Bank of England Sticks With Animal-Fat Bills
The central bank said it would cost too much to withdraw the five-pound notes. WSJ
#CNBCTV18Exclusive: Sources Say @RBI Puts @HDFCBank_Cares Back In FII Ban List. pic.twitter.com/G0QvX0lDeI
— CNBC-TV18 (@CNBCTV18Live) February 17, 2017
#stocks: SpiceJet best bet in aviation sector: Anand Rathi
SpiceJet, the best performing aviation stock in the world in 2015, has been described as the best bet in the Indian aviation sector by Anand Rathi. Defence Aviation Post
#bonds-from the past: Use interest stripping to cut your tax
Interest stripping is a tax planning strategy that can help high networth individuals (HNIs) and investors in the high tax bracket to reduce their tax burden. Times of India
#general-from the past: The Risks Of Buying Bitcoin
Bitcoin, the first cryptocurrency on the virtual block, has garnered much attention since it was first created in the year 2009. It is an internet currency involving a person to person payment and operates without a third party (bank or central authority) and do not enjoy government backing. Investopedia
Government: Issues Norms For Time Bound Listing of Central PSUs; Sets 165 Day Timeline For Listing Of Central PSUs pic.twitter.com/gPRETmPNsu
— BTVI Live (@BTVI) February 17, 2017
#stocks: HDFC Bank’s Aditya Puri says wallet business has no future
Aditya Puri, the Managing Director of HDFC Bank has said he sees no future in digital wallets. Speaking at the Nasscom India Leadership Forum today, Puri was skeptical about this new trend in digital payments, which gained huge traction after demonetisation. Economic Times
HDFCBANK creates several milestones today || 10 Cr shares volume || 14K Cr. turnover || Highest single stock turnover since NSE inception
— Murugavel (@murugavell) February 17, 2017
#stocks: Unilever shares surge to record high after Kraft Heinz makes £100bn+ takeover approach
Kraft Heinz confirms it has approached Unilever about a deal that could be worth over £100bn. The Guardian
Love it or hate it, do leave us with your reviews in the comment section below!
