HDFC MF gets Sebi go-ahead for IPO after nearly two months on backburner

Stock Market - HDFC Mutual Fund has obtained a go-ahead to launch its initial public offering (IPO), two investment bankers handling the issue said.

“Sebi has issued final observation on the offer document. The company will have to respond to the market regulator,” said an investment banker, adding that the asset manager is looking to launch its IPO in the second or third week of July.

HDFC MF couldn’t be immediately reached for a confirmation.

The processing status of draft offer documents filed with Sebi, uploaded on June 22, featured names of 26 companies that are awaiting approval. The list didn't include the name of HDFC MF.


Among the companies awaiting a nod for their IPO include Lodha Developers, Mazagon Dock and Srei Equipment Finance. As per Sebi’s website, the IPO of Lodha Developers, country’s leading real estate company, has been “kept in abeyance for examination of past violations.”

Get Live - HDFC Bank Stock Price

Buy Indiabulls Housing Finance, HDFC, says Prabhudas Lilladher

STOCK MARKET - Nifty outlook and key trading ideas by Vaishali Parekh, Research Analyst - Technical Research at Prabhudas Lilladher:

NIFTY VIEW:
Market is finding it difficult to comfortably move past 10400 levels in Nifty and at regular intervals is subjected to profit booking. Bank nifty too moved towards 26000 levels and eventually witnessed profit booking. The support for the day is seen at 10320 while resistance is seen at 10415.

BUY INDIABULLS HOUSING FINANCE
CMP: Rs 1,200.05    
TARGET: Rs 1,335    
STOP LOSS: Rs 1,150
The stock has corrected well from the peak of 1373 to bottom out at around 1145 levels and currently has shown a decent reversal and we anticipate a further rise in the price with strength and potential to scale up to the previous peak. The indicators like RSI have shown trend reversal and signaled a buy. With decent volume participation witnessed, we recommend a buy in this stock for an upside target of 1335 keeping a stop loss of 1150

BUY HDFC
CMP: Rs 1,725.50    
TARGET: Rs 1,850    
STOP LOSS: Rs 1,670
The stock has more or less made a double bottom formation pattern in the daily chart at around 1645 levels and has bounced back with potential to show a positive bias. The RSI has been on the rise and we anticipate a further rally in the stock up to 1800 levels with strength in the coming days. With good volume activity seen, we recommend a buy in this stock for an upside target of 1850 keeping a stop loss of 1670.

HDFC, YES Bank, HDFC Bank, Maruti Suzuki, Eicher Motors hit new highs

STOCK MARKET - Housing Development Finance Corporation (HDFC), YES Bank, HDFC Bank, IndusInd Bank, Maruti Suzuki India and Eicher Motors from the Nifty 50 index hit their respective new highs on the National Stock Exchange (NSE) on Thursday.

YES Bank surged 5% to Rs 1,797, extending its Wednesday’s 6% rally on NSE, after the bank’s gross non-performing assets (GNPAs) has come down by Rs 654 crore in absolute terms and 55 bps QoQ to 0.97% during April-June (Q1FY18) quarter.

“For five consecutive quarters the bank has been delivering loan growth above 30%, with growth in Q1FY18 coming in at 32%. Deposit growth also remained strong at 22.6%. With asset quality concerns easing and core operations remaining strong the earnings visibility of the bank has improved,” Angel Broking said in a note.

Meanwhile, the board of directors of the bank has approved stock split in the ratio of 5 for 1 i.e. sub-division of existing 1 equity share of face value of Rs 10 each fully paid up into 5 equity shares of Rs 2 each fully paid up.

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A guide to creating a retirement budget -Business Standard

Retirement means taking things easy. But in order to have a happy one it is never a good idea to be complacent about the planning. Finance institutions like HDFC Life offer tailor-made innovative pension plans to provide financial security for a happy retired life without compromising on living standards.

Experts, in fact, recommend that retirement planning should start from the day you start earning. Presenting six steps to help retire in comfort.

1. Budget for retirement

Knowing post-retirement expenses is crucial to retirement planning.

Two ways to do it:

a. Estimate the retirement fund
Every individual needs roughly about 70% to 80% of pre-retirement gross income. Sooner one starts, the better it is. That way even after the paychecks stop coming, life doesn’t.

It’s a good idea to consult a financial advisor on how to create a monthly budget. Many reputed financial firms, like HDFC Life, have formulated retirement expense worksheets, so the help needed to pencil out a budget for retirement is just a click away.

b. Create a detailed monthly budget for retirement
Some expenses, such as those on clothing and entertainment, come down. Others, such as transportation, medicine and insurance, go up. Typically, during the initial retirement years, people spend more on travel and leisure activities, and later, more on health. It is important to note that everyone’s situation is different, so what works for one individual may not work for another.

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2. Start an SIP 
3. Get a life insurance 
4. Allocate a sizeable portion of any raise to saving
5. Factor in inflation and surprise expenses
6. Don't dip into corpus before you retire

Top 5 biggest life insurance myths

Latest Business News - There are several misconceptions about life insurance. It is a popular notion that older or married individuals with kids should invest in one, or that the insurance only offers post-death benefit. Here we debunk some of the biggest life insurance myths… 

Life insurance policy is critical to any financial planning. Yet it is never prioritized and is often considered complicated to decode. But it is always a good idea to invest in life insurance, more so sooner than later. Especially, since not having one when you need it can be devastating.

While there are quite a few common myths about life insurance, here is a list of the five biggest ones.

Myth 1: Single, without dependents. I don't need coverage
Myth 2: Too young to think about coverageMyth 3: Only men need life insurance Myth 4: Insurance is of no use unless you die  Myth 5: Better to invest the money rather than lock it up in life insurance of any kind

Top 5 biggest life insurance myths

Latest Business News - There are several misconceptions about life insurance. It is a popular notion that older or married individuals with kids should invest in one, or that the insurance only offers post-death benefit. Here we debunk some of the biggest life insurance myths… 

Life insurance policy is critical to any financial planning. Yet it is never prioritized and is often considered complicated to decode. But it is always a good idea to invest in life insurance, more so sooner than later. Especially, since not having one when you need it can be devastating.

While there are quite a few common myths about life insurance, here is a list of the five biggest ones.

Myth 1: Single, without dependents. I don't need coverage
Myth 2: Too young to think about coverageMyth 3: Only men need life insuranceMyth 4: Insurance is of no use unless you dieMyth 5: Better to invest the money rather than lock it up in life insurance of any kind

Read More Here