The Markets have firmly closed above the 200 DMA and we wanted to update you on the performance of the Funds that we have recommended here. Reliance Growth fund controlled by Reliance ADAG has underperformed by a whopping 9% and the reasons could be that the funds exposure to its own group company stocks which are on the LOSING edge.
Data suggests that on 19/11/2010, SENSEX closed at 19585 while Reliance Growth Fund NAV was 506.41. SENSEX made a low of 17463 on 10/2/2011 and the Fund NAV dropped to 421.63 – a drop of 16.74% compared to the drop in SENSEX by (more…)
The Rampant Corruption Wave that rocked the Weakest Government of Free India brought the award of Road Contracts to stand still as former Minister Kamal Nath did nothing to stop the Hooligans. Dr. Singh, took some step and brought in Dr. C P Joshi as the Minister of Surface Transport to check Corruption. Mr. Joshi took a step to introduce point based qualification so that Large Infrastructure Companies with Fantastic Track Record like Punj LLoyd, IL&FS Transportation Network etc don’t get dis-qualified by Corrupt Bureaucrats.
Voltas a Tata group company has been in this business of Air Conditioning from Office to Commercial Retail and Cold Storage now. With Global Warming getting worse and the need of A/C increasing, Voltas is targeting a volume growth in room AC sales in India in FY12. It is also expanding market share from 19%, led by a new product range and a 20% jump in dealers.
The unfortunate natural disaster that occurred in Japan over the last few days will have limited impact on Indian Companies and Equities. India’s exports to Japan (2.1% of total) – primarily metals/ores, and imports (2.3% of total).