SBI Tax Advantage Fund - Series II new fund offer closes 21 March 2012
SBI Mutual Fund has launched SBI Tax Advantage Fund, a close-ended ELSS scheme.
The investment objective of the scheme is to generate capital appreciation over a period of ten years by investing predominantly in equity and equity-related instruments of companies across large, mid and small market capitalization, along with income tax benefit.
The new fund offer closes on 21 March 2012. The minimum investment amount is Rs500.
The scheme would be benchmarked against BSE 100. Jayesh Shroff is the fund manager.
Coupons, consumer electronics and comparison sites are the top three most popular sites in India with coupon sites witnessing a growth of 629% during last year
Nearly 60% of online users in India visited a retail site in November 2011, with the number of online shoppers increasing 18% in the past year said comScore in a research report.
“The online channel is playing an increasingly important role in connecting retailers with potential customers in India. The rapid growth of online coupon sites suggests that consumers in India are looking for deals, highlighting the need for online retailers to adopt effective marketing and pricing strategies for their goods,” said Kedar Gavane, comScore director for India.
According to the report on visitation to the top retail and coupon sites in India, coupon sites are rapidly gaining in popularity, with 16.5% of the Indian online population visiting the category in November, led by Snapdeal.com and Mydala.com.
In November, 27.2 million online users in India, aged 15 and older, accessed the retail category from a home or work computer, an increase of 18% from the previous year, as consumers continue to turn to the web to shop for and purchase items and retailers continue to increase their online visibility through active marketing campaigns.
Analysis of some of the largest retail sub-categories revealed that coupons were the largest with 7.6 million visitors, an increase of 629% from the previous year as consumers rapidly adopt daily deal sites. Consumer electronics ranked next with 7.1 million visitors growing 12% from the previous year, while 5.8 million online users visited comparison shopping sites, an increase of 25% from the previous year.
Average inventory dated back 2.5 months as on 30th November, as per a research report
The festive season seems dim for the FMCG (fast moving consumer goods) sector. A report by Emkay Global Financial Services has revealed that inventory in the consumer goods sector is piling up. On an average, the market’s inventory is two-and-half months old, as observed on 20th November.
The report says, “Relatively new/fresh inventory was seen in milk and food-noodles—dated back one-and-half to two months. Relatively old inventory was seen in hair oils and toothpastes. With inventory dating back two-and-half months—sales momentum seems moderating in the modern retail channel for FMCG categories.” The report finds that Dabur and Bajaj have suffered due to their hair oil products; and Nestle, Marico and Britannia have fresher inventory by virtue of their food products.
“Inflation, price rise across product categories and rising uncertainty about employment may have deterred the consumers. We have seen reduced sales in beauty products, domestic pesticides, stationery and other household products. But milk and milk products, chocolates, etc are seeing strong sales thanks to Christmas,” said a spokesperson of a retail chain. He said that the situation may be worse in non-metropolitan cities and rural areas.
If the Diwali season (October 2011) was any indication, Christmas and New Year is going to be a dull sight. Diwali saw average footfalls in malls and retail outlets, and the sales momentum was not so great.
The inventory pile up can be partly attributed to strong volume growth for the second quarter—which was the focus of most FMCG companies. Colgate reported a 13% volume growth during the second quarter while Hindustan Unilever reported 9.8% of volume growth. However, input costs have been high, and most companies raised prices across sectors.
On the other hand, Marico and Nestle, who are placed above HUL, Proctor & Gamble and Colgate—had managed their costs better; though had also focused on volume growth during Q2. Overall, food items have fared better than personal care and home products in inventory movement.
An analyst with a brokering firm said, “Adding to the concerns is the weakening of the rupee. Also, companies have to take into account agricultural productivity. Till at least the next quarter pressures will not ease up.”