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Equity Investments, Fundamental Research and Sectors Review / Re: Nifty FY 2024 2025 EPS

« Last post by resh on May 20, 2024, 06:06:28 PM »

JM Financial estimates it to be Rs 1,130
SBI Funds estimates NIFTY EPS to be Rs 1,097 (significant moderation)
Motilal Oswal in its recent report estimates NIFTY EPS to be Rs 1,132 and Rs 1,315 for FY 2025-2026

Equity Investments, Fundamental Research and Sectors Review / Nifty FY 2024 2025 EPS

« Last post by resh on January 16, 2024, 08:23:16 PM »

Here are the Nifty FY 2024 2025 EPS Estimates from various research houses.

CLSA - Rs 1,090
Kotak Institutional Equity - Rs 1,089
Motilal Oswal - Rs 1,100
ICCICI Direct - Rs 1,100 and Rs 1,250 fro FY 2025-26
IIFL Equity Research - Rs 1,073
Axis Securities - Rs 1,060 and Rs 1,187 for FY 2025-26

Indian Economy, Macro, RBI Policies / Historical Fixed Deposit Interest Rates India

« Last post by resh on July 23, 2023, 10:52:44 PM »

Here is Historical Fixed Deposit Interest Rates offered by SBI and other PSU Banks for a period of 12 Months in India.

1975-76   8
1976-77   8
1977-78   6
1978-79   6
1979-80   7
1980-81   7.50-8.50
1981-82   8.00-9.00
1982-83   8.00-9.00
1983-84   8.00-9.00
1984-85   8.00-9.00
1985-86   8.50-9.00
1986-87   8.50-9.00
1987-88   9.00-10.00
1988-89   9.00-10.00
1989-90   9.00-10.00
1990-91   9.00-10.00
1991-92   12
1992-93   11
1993-94   10
1994-95   11
1995-96   12
1996-97   11.00-12.00
1997-98   10.50-11.00
1998-99   9.00-11.00
1999-00   8.50-9.50
2000-01   8.50-9.50
2001-02   7.50-8.50
2002-03   4.25-6.00
2003-04   4.00-5.25
2004-05   5.25-5.50
2005-06   6.00-6.50
2006-07   7.50-9.00
2007-08   8.25-8.75
2008-09   8.00-8.75
2009-10   6.00-7.00
2010-11   6.75-7.25
2011-12 7.5-8.25
2012-13 8.0
2013-14 7.25-8.0
2014-15 8.0-7.4
2015-16 7.4-6.8
2016-17 6.8-6.25
2017-18 6.25-6
2018-19 6-6.4
2019-20 6-4.5
2020-21 4.5-4
2021-22 4.0
2022-23 4.0-7.25

The above rates are for all Individuals and Senior Citizens get 0.5% higher than the rates mentioned above.

Mutual Funds in India / Mid + Small Cap - Active Funds

« Last post by resh on April 08, 2023, 05:12:35 PM »

When choosing Mid & Small Cap Funds, it is better to go with Actively Managed Funds than their respective Index ETFs. Reason being lesser correction during broader market correction / down years.

Track Record: At least 6 to 8 years.

AUM: Should be healthy at least Rs 100 Crore for every year of its operation and must have strong SIP Flow (Mostly known by the fact of increasing AUM )

Quartile Ranking For how many quarters the Fund has stayed in Top Quartile of Returns when compared to Peers.

Out-performance Vs Benchmark Look how long it has been above the benchmark on Rolling Returns Parameter. Outperformance must be at least 65% of the time.

Volatility is measure of fluctuation of funds NAV with all else being equal. High Volatility mean High Reward but expect Steep Loss when it is not in your favor. Typically expressed as Beta of the MF. If beta > 1, the fund is more volatile than the benchmark. If beta < 1, it is less volatile

Standard Deviation Use this and broadly get to know the range of future returns.

Now using these Parameters let me find out the good ones for self investment.

Sensex and Nifty Company Analysis / Re: Nifty FY 2023-24 EPS

« Last post by resh on February 24, 2023, 08:57:14 PM »

Kotak Institutional Equities Expect Nifty EPS as under
FY 23 Rs 806
FY 24 Rs 923
FY 25 Rs 1,074

Axis Securities Expect Nifty EPS as under
FY 23 Rs 817
FY 24 Rs 930
FY 25 Rs 1,049

ICICI Direct Research Expects Nifty EPS as under
FY 23 Rs 800
FY 24 Rs 950
FY 25 Rs 1,080

If US Markets Trade at a P/E of 20 Yield as on the date of writing this post https://www.wsj.com/market-data/stocks/peyields
Indian NIFTY should also trade at 20 12 months Forward P/E.

Mutual Funds in India / Quant Style Investing

« Last post by resh on January 19, 2023, 09:07:33 PM »

Quant MF came into existence in 2018 with takeover of Escorts MF by Quant Capital. It is surprising Quant Group was owned by Reliance which already had Reliance Nippon AMC.

1. MultiCap - Quant Active Fund - 1,2,3,4,5 - All time frame SIP- Top Performing.
2. FlexiCap - Quant FlexiCap - 1,2,3,4,5 - All time frame SIP- Top Performing.
3. MidCap - Quant MidCap - 1,2,3,4,5 - All time frame SIP- Top Performing.
4. Focused - Quant Focused - 1,2,3,4,5 - All time frame SIP- In Top 5, Not the TOP Performing for 1 & 2 Years.

Mutual Funds in India / Re: Conservative Hybrid Debt Vs Fixed Deposit

« Last post by resh on December 25, 2022, 09:17:31 AM »

Investors can take advantage of 4 Indexations where the holding period will be slightly higher than 3 years but the investment is held across 5 financial years.

This can be achieved by investing towards the end of the financial year (between Jan 1st and March 31st of 2023) and has to be redeemed after April-01-2026.

In such a scenario, Indexed Cost of Acquisition will be adjusted for 4 years.

Indian Economy, Macro, RBI Policies / Trust Creation for Family Investments

« Last post by resh on December 25, 2022, 08:56:56 AM »

Some Large HNI Investors create a irrevocable discretionary trust where the Husband and Wife are the Trustee and Children the Beneficiaries. The purpose of the trust is to grow the wealth by way of investments across instruments and also towards welfare of the beneficiaries. You ensure that (1) in case of any legal claim on Husband / Wife in personal capacity the assets in the name of the trust cannot be attached (2) just in case the erstwhile estate tax (inheritance tax) comes back this would provide some benefit

The Trustee cannot be a beneficiary. The period of the trust is to be specified. Trust is to be registered at the sub registrar office.

The property, shares or investments continue to remain in the name of the trust - not in the name of beneficiaries. However, you can set up a regular payout to beneficiaries or one off since the trust is a discretionary one. As and when the trust is closed down, the assets held will be distributed to beneficiaries detailed in the trust agreement. In fact from taxation point of view

Cash Infusion - Once funds (cash/shares/property) moves into Trust - it is owned by the Trust and the trustee has no relationship excepting being a guardian of the assets.

Trustee cannot utilize any proceeds from the Trust except a reasonable compensation by way of being the Trustee. The payouts to various beneficiaries is at discretion as the name suggests - it is a discretionary trust.

Taxation - No clubbing. Trust is an independent entity with its own PAN and hence handles any taxation on its own. Once the beneficiaries receive any thing from the trust, the resulting taxation would be borne by the individual beneficiaries as applicable.

Disadvantages Trust would be less effective as long term capital gains from share sales cannot be used for purchase of property - the section is unavailable as and when you file tax for the trust. This is a grey area and once needs to take the legal route.

Trading Ideas / Brokers Provide API Algo Trading India ?

« Last post by resh on December 25, 2022, 08:39:44 AM »

Which Brokers Provide API for Algo / Automated Trading India ?

1. Zerodha - https://kite.trade/
2. Fyers - https://fyers.in/api/
3. IIFL - https://api.iiflsecurities.com/
4. https://api.dhan.co/#/
5. Finvisa - https://shoonya.com/api-documentation
6. Prostocks - https://www.prostocks.com/prostocks-star-api.html

Indian Economy, Macro, RBI Policies / Taxation of Listed Unlisted Bonds

« Last post by resh on December 25, 2022, 08:20:11 AM »

Bonds / Government Securities / Debt Listed on Indian Exchanges / Unlisted have different Tax Treatment.

Listed Bonds sold on exchange don't get indexation benefit. They are taxed like equity, so if held above 12 months 10% tax on the Profit (cost price - sale price).

Unlisted Bonds LTCG period is 3 years. And taxation of LTCG is 20% with indexation and 10% without indexation.

Yearly Interest received in your hands is already taxed as per your normal slab rates.