Investor Issues
BSE to introduce smart beta indices by 2015-end
The Bombay Stock Exchange (BSE) in collaboration with S&P Dow Jones Indices will introduce three smart beta (factor-based) and a 1-2 thematic indices by 2015-end, an official said here on Tuesday.
 
"Work is under progress to introduce one-two thematic indices and at least three smart beta (factor-based) indices by December-end this year," Koel Ghosh, head of business development at Asia Index, told media persons here in an interactive session.
 
Asia Index is a 50:50 joint venture between Asia's oldest bourse - the BSE - and S&P Dow Jones Indices.
 
GHosh said the criteria for a company to qualify for the factor-based indices will be based on its profitability, liquidity and turnover. Other factors may also play a role in the selection process.
 
The joint-venture has already launched five thematic indices -- the manufacturing, infrastructure, PSU (Public Sector Undertakings), Shariah-complaint and CPSE (Central Public Sector Enterprises) index categories.
 
Thematic Indices are used to capture the impacts of various broad investment themes while the smart beta or the factor-based index will be based on the free-float mechanism.
 
The official said introducing equal-weighted indices is also in the pipeline.
 
Besides, she is hopeful that with investments poised to pour into the capital market from the Employees' Provident Fund Organisation, exchange-traded fundA(ETF) will get a boost.
 
ETF is an open-end investment fund traded on stock exchanges, much like stocks.
 
"As on July this year, the Indian ETF industry had 50 ETFs with 50 listings and assets of two billion dollars from 16 providers on two bourses," she said.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

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Be positive to keep heart disease at bay
People with a positive psychological state such as those who are enthusiastic or interested are likely to develop long-term healthy habits that are important for lowering the risk of heart disease, says a new study.
 
Over the course of five years, researchers tracked more than 1,000 patients with coronary heart disease. 
 
The researchers found that patients who reported higher positive psychological states were more likely to be physically active, sleep better and take their heart medications and were also less likely to smoke, compared to patients with lower levels of positive states.
 
"Negative emotions and depression are known to have harmful effects on health, but it is less clear how positive emotions might be health-protective," said Nancy Sin, postdoctoral fellow at Pennsylvania State University in the US. 
 
"We found that positive emotions are associated with a range of long-term health habits, which are important for reducing the risk of future heart problems and death," Sin noted.
 
The researchers assessed psychological well-being of participants at baseline and again at a five-year follow-up by asking the participants to rate the extent that they had felt 10 specified positive emotions, including "interested", "proud", "enthusiastic" and "inspired". 
 
Physical activity, sleep quality, medication adherence and alcohol and cigarette use were also measured at baseline and again five years later. 
 
Higher levels of positive emotions were associated with less smoking, greater physical activity, better sleep quality and more adherence to medications at baseline, the study found.
 
They found no correlation between positive emotions and alcohol use. 
 
"Efforts to sustain or enhance positive emotions may be promising for promoting better health behaviours," the study said.
 
The findings appeared in the journal Psychosomatic Medicine.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

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Foreign roadshows begin for NTPC, BEL divestment
The Indian government on Tuesday commenced roadshows at four foreign locations, including in the US and Britain, to attract buyers for its proposed divestment in power generator NTPC and Bharat Electronics Ltd (BEL).
 
The two stake sales are expected to garner the government around Rs.6,600 crore.
 
A senior source told IANS here that officials from the department of disinvestment (DoD), the power ministry and NTPC are doing roadshows simultaneously between October 5-10 in Singapore, Hong Kong, London and in San Francisco, Boston and New York in the US.
 
The divestment in the two companies would proceed based on investor responses in the roadshows and the domestic equity market conditions, the source added.
 
Union cabinet's approval has been taken for the 5 percent stake sale in NTPC. The 5 percent stake sale as per current market prices would fetch Rs.5,200 crore for NTPC stock and around Rs.1,400 crore in the case of BEL.
 
NTPC and BEL form part of a divestment basket of companies created by DoD earlier this year, which includes Engineers India, NALCO and Hindustan Copper.
 
The government has so far in this fiscal earned Rs.12,600 crore through stake sale in four units - Indian Oil, the Power Finance Corp, REC and the Dredging Corporation of India.
 
It has a divestment target, for this fiscal, of Rs.69,500 crore, of which Rs.28,500 crore is expected to come from strategic stake sales.
 
Finance Minister Arun Jaitley last week reviewed the situation in the government's divestment programme in connection with generating revenue, and announcements of stake sale would be made at the appropriate time, a senior official said on Monday.
 
"On disinvestment, the finance minister held a review meeting last week," Economic Affairs Secretary Shaktikanta Das told reporters here at a press conference of secretaries in the finance ministry.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article

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