BSE StAR MF processes over 5 lakh orders in a single day
BSE StAR MF distribution platform, the largest distribution framework for Indian Mutual Fund, received over 5 lakh orders, a record high for a day. The total value of these orders is over Rs700 crore.
 
BSE StAR MF has witnessed 15.62 lakh orders in 8 trading days of August 2018 with 3 days over 2 lakh orders in a day.
 
BSE StAR MF added 2.65 lacs new SIP in July 2018 , Nearly 26% of total added to MF industry.
                
BSE StAR MF has experienced a growth of over 540 % in last 2 years for the same period. The BSE StAR MF exchange infrastructure is predominately catering to retail category of mutual funds industry i.e. 26 % in terms of transactions and over 40 % in terms of value of transactions.
 
Ashishkumar Chauhan, MD&CEO, BSE said “We believe, it is just the beginning. BSE StAR MF has a potential to do 50 lakh to 1 crore MF transactions in a single day. And more than 5 to 10 crore transactions in a month. We are sure, after witnessing this milestone, all AMCs will also whole heartedly work with BSE Star MF to reduce their distribution cost and automate the distribution processes. It is estimated that each MF order placed on BSE StAR MF saves MF industry more than Rs 300”

User

COMMENTS

Mohammed Tahir

11 months ago

Is good business

sachchidanand

11 months ago

Just a small doubt, as far as pricing is concerned, are MF Schemes available at less than NAV's on this Star platform ? What is the advantage of buying MF UNITS from this platform , instead of buying from individual MF ?

REPLY

Ashish M

In Reply to sachchidanand 11 months ago

There is no difference to you as a customer in terms of pricing. It reduces processing cost for the AMC. Hidden advantage to customers could be faster processing. That's it.

Nifty, Sensex Still Trending Higher – Thursday closing report

We had mentioned in Tuesday’s closing report that Nifty, Sensex were highly overbought. The major indices of the Indian stock markets were range-bound on Thursday and closed with gains over Wednesday’s close. On the NSE, there were 867 advances, 865 declines and 340 unchanged. The trends of the major indices in the course of Thursday’s trading are given in the table below:

 

 

The benchmark equity index -- S&P BSE Sensex -- crossed the 38,000-points mark during the mid-afternoon trade session on Thursday. According to market observers, the fresh record high for the barometer index comes on the back of domestic political development which renews confidence in the incumbent National Democratic Alliance (NDA) government. Also, broadly positive global cues, along with better-than-expected quarterly results and inflow of foreign funds pushed the key index higher.
 
The Supreme Court on Thursday said that the promoters of Jaiprakash Associates cannot bid for Jaypee Infratech, which is facing insolvency proceedings before the National Company Law Tribunal (NCLT). Rejecting Jaypee Associates plea to bid, a bench of Chief Justice Dipak Misra, Justice A.M. Khanwilkar and Justice D.Y. Chandrachud allowed the NCLT to proceed. Taking recourse to Article 142 of the Constitution that confers plenary powers to the top court to tide over any situation, the court said that the mandatory period of 180 days to complete the insolvency proceedings by the Interim Resolution Professional would commence from August 9. The court also directed the constitution of a new Committee of Creditors (CoC) that would include the representatives of the home buyers who are now been recognised as operational creditors under the amended Insolvency and Bankruptcy Code (IBC). While directing the transfer of Rs750 crore that were deposited by the Jaiprakash Associates to the NCLT, the court allowed the application of Reserve Bank of India (RBI) to ask the banks to initiate insolvency proceedings against Jaiprakash Associates. Jaypee Infratech shares closed at Rs4.66, down 4.90% on the NSE.
 
Ruia brothers-led Essar Oil and Gas Exploration and Production (EOGEPL) on Thursday announced that it has signed a 15-year Gas Sale and Purchase Agreement (GSPA) with state-run gas utility GAIL. The Essar Group subsidiary said in a statement here that GAIL had won the bid for the contract which will help EOGEPL monetise its entire coal bed methane (CBM) production of 2.3 million standard cubic metres per day (mscmd) from the Raniganj East block.  "The GSPA entails a 15-year gas supply contract whereby the company will be able to monetise its entire coal bed methane (CBM) production of 2.3 mmscmd from the Raniganj East block at a globally competitive price," Essar said. "GAIL emerged winning bidder by offering to pay gas prices linked to three-month average price of Brent crude. The discovered price will lead to a substantial increase in the Company's (EOGEPL) topline," it added. Of the 500 wells to be dug at the Raniganj East CBM block, EOGEPL has already completed drilling of 346 CBM wells. Gail India shares closed at Rs375.25, down 0.46% on the NSE.
 
Pharma major Cipla reported an increase of 4.86% in its consolidated net profit during the first quarter (Q1) of 2018-19. According to the company, net profit during the quarter under review rose to Rs445.61 crore from Rs424.92 crore reported for the corresponding period of previous fiscal. Besides, the company's total income from operations was up 11.74% to Rs3,938.99 crore from Rs3,525.05 crore earned during the corresponding period of the previous fiscal. Cipla shares closed at Rs621.05, down 1.82% on the NSE.
 
Pharma major Lupin Limited reported a 43.4% fall in its consolidated net profit at Rs202.8 crore for the quarter ended June 30. The consolidated net profit in the April-June quarter of last fiscal was Rs358.1 crore, the company said in a statement. Total sales slipped to Rs3,774.6 crore in the first quarter this fiscal from Rs3,806.8 crore in the corresponding quarter of previous fiscal. "The first quarter of FY2019 has been subdued, primarily on account of the US and Japan," Lupin Limited Managing Director Nilesh Gupta said. Lupin's North America sales, which account for 31% of its global sales, fell 26% year-on-year to Rs1,185.8 crore for the June quarter from Rs1,601.8 crore in the year-ago quarter. Lupin's Japan sales fell more than 5% year-on-year to JPY 8,129 million in the April-June quarter this year, the statement said.
 
MEP Infrastructure has signed a non-binding Term Sheet Indian Highways Developers, Singapore for divestment of its total stake in six SPVs for a total consideration of Rs450 crores. MEP Infrastructure Developers shares closed at Rs59.35, down 0.25% on the NSE.
 
Ramco Systems wins multi-million-dollar software deal from Philippines' air freight leader - AP Cargo. Ramco Logistics Software to enable digital transformation of the company's logistics and shipping operations. Ramco Systems shares closed at Rs381.80, down 1.11% on the NSE.
 
The Power business of L&T has won orders worth Rs1,080 crore. It has received two orders  from NTPC for setting up Flue Gas Desulphurisation (FGD) systems at its supercritical thermal power plants at Khargone, Madhya Pradesh and Lara, Chhattisgarh. Larsen & Toubro shares closed at Rs1,285.50, down 0.98% on the NSE.  
 
Bharat Electronics has entered into contracts with Mazagon Dock Shipbuilders and Garden Reach Shipbuilders, Kolkata for supply and services of LRSAM systems for 7 ships being built for the new ship building program. The total value of the contracts is about Rs9,200 crore. Bharat Electronics shares closed at Rs120.90, down 0.04% on the NSE.
 
The top gainers and top losers of the major indices are given in the table below:
 
 
The closing values of the major Asian indices are given in the table below:
 
 

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Insecticides India: Steady Performance
Since its listing on 30 May 2007, the stock of Insecticides India Ltd (IIL), a pesticides company, has compounded @19.06% annually. Its market-capitalisation currently is about Rs1,640 crore. IIL generates revenues from two streams: formulations (87.40% of operating revenue as of FY16-17) and technicals (12.60%). There hasn’t been much change in the composition of revenues in the past five...
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