Amfi has decided to waive fees for all registrations of first time distributors for a period of five months from February 1 to June 30. This initiative is aimed at enlarging the distribution network and attracting new cadre of distributors/IFAs for selling mutual fund products.
Macquarie raises targets for Sensex & Nifty
Macquarie says Indian ‘elephant’ to turn ‘tiger’ in 2013; ups BSE Sensex target to 22,200 versus 21,600 earlier and Nifty target to 6,900 points against 6,600 previously. Investment bank expects reforms push would take India to 8% per annum growth over the next three years, improving to 6.7% in FY14 from 5.6% projected in FY13. Corporate earnings growth may surprise on upside around 16-17% as street not factoring in improvement in Ebitda margins with neither falling core inflation nor reduction in interest costs getting built in.
DCHL scrip falls 5% after NSE suspends trading
Shares of Deccan Chronicle Holdings on Wednesday fell by nearly 5% to hit a lower circuit limit after the NSE suspended trading in shares of the company on its platform from January 23 as the company failed to submit financial results and shareholding pattern data. At NSE, the stock tumbled 4.90% to R6.80, which is its lowest trading permissible limit for the day. The scrip opened 4.88% lower from its previous close and hit a lower circuit of R6.82 on the BSE.
Morgan Stanley starts Infratel at ‘overweight’
Morgan Stanley initiates coverage on Bharti Infratel with an ‘overweight’ rating and a target
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