Rupee climbs 4 paise to 63.71 against dollar in early trade.

The rupee edged up 4 paise to 63.71 against the US dollar in early trade on Thursday at the Interbank Foreign Exchange market on increased selling of the American currency by exporters amid higher foreign funds inflow.

Forex dealers said a weakening dollar against other currencies overseas and a higher opening in the domestic equity market supported the rupee.

The rupee had closed barely steady at 63.75 against the US dollar in yesterday's trade on fresh selling of the greenback by banks and exporters amid sustained foreign capital inflows into equities.

The benchmark BSE Sensex rose further 91.32 points, or 0.32 per cent, to 28,314.40 in early trade today.
For More information regarding financial market click herewww.rpshares.com/news.html

EPFO enters Dalal Street, plans to hike investments further.

Marking its maiden entry into stock market, retirement fund body EPFO Thursday announced its first equity investment through Exchange Traded Funds benchmarked to key indices Sensex and Nifty and promised to invest more than the current limit of Rs 5,000 crore from the next year.

The first investment, announced here by Labour Minister Bandaru Dattatreya in the presence of top market participants, would be made through SBI Mutual Fund's two index linked ETFs -- one to the BSE's Sensex and the other to NSE's Nifty.

The minister said Employment Provident Fund Organisation (EPFO) will initially put only 5 percent of its incremental fund flow, which would be around Rs 5,000 crore, but the cap could be increased to 15 percent next year.

The return from the ETF investment will be more than the 8.75 percent the EPFO offers to subscribers now, he said.

"We expect that the return be given to 4.67 crore subscribers of EPFO, which started investing 5 percent of its incremental fund of Rs 1,00,000 crore, to be more than the existing return of 8.75 percent," the minister told reporters after making a formal announcement here today.

Apart from Dattatreya, the event was attended by Sebi's whole-time member S Raman, SBI chairperson Arundhati Bhattacharya, BSE chief Ashish Kumar Chauhan and the Central PF commissioner K K Jalan.

Chauhan said that investment of pension funds in stock markets is an internationally accepted practice and citizens world over have got better returns from such investments.

NSE chief Chitra Ramkrishna, who was not present at the event, said in a statement that EPFO's entry will unlock savings into nation building and other entities may consider similar initiatives.

A press release from SBI Mutual Fund, however, named Ramkrishna among those present on the occasion.

The SBI-ETF Nifty and SBI Sensex ETF are the two index-linked ETF schemes chosen from SBI Mutual Fund.

The Index-based ETFs are universally considered amongst the safest investment avenues to help PF members accumulate robust retirement corpus over a long-term.

"Even though the EPFO, with its Rs 6.5 trillion corpus will be investing only 5 percent of its incremental flow by the end of the current fiscal, we will review the situation after that to decide whether we should increase it to 15 percent next year," Dattatreya said.  For More information regarding financial market click herewww.rpshares.com/news.html

Balaji Telefilms trims most of early gains; stock up .

 Trimming most of its initial gains on profit-taking, shares of Balaji Telefilms ended the day over 1 percent higher, a day after Star India sold its entire 25.99 percent stake in the company for an estimated Rs 108 crore.

After surging 10.23 percent to Rs 105 -- its 52-week high -- in intra-day trade, shares of the company finally ended at Rs 95.90, up 0.68 percent on the BSE.

On the NSE, the stock settled with a gain of 1.1 percent at Rs 96.35.

Most of the shares were purchased by Balaji Telefilms' promoters - Ekta Kapoor and Shobha Kapoor - and Group CEO Sameer Nair.

"This confirms Star's exit of a minority stake of 25.99 percent in Balaji Telefilms. Axis capital acted as advisors to Star and also executed the on-market sale on August 5, 2015," Star India CEO Uday Shankar said.

Star India, which had initially acquired 21 percent stake in Balaji in August 2004 for over Rs 120 crore, increased its holding in the company to 25.99 percent.

As per the latest data available with Metropolitan Stock Exchange (formerly known as MCX-SX), Star India offloaded a total of 1.69 crore shares of Balaji Telefilms through open market route.

The shares were sold at an average price of Rs 63.6 apiece valuing the transaction at Rs 108 crore. 
For More information regarding financial market click herewww.rpshares.com/news.html