This Multibagger Auto Ancillaries Stock Surges From Rs 2
The shares of the companies in the automobile sector have been giving high returns to investors. Gabriel India, which is popular for manufacturing shock absorbers and other auto parts for all passenger segment vehicles, has given multifold returns to its investors.
The company's shares were trading at Rs 2.6 levels in 2002 and currently the share price has surged to nearly Rs 315 per piece on NSE.
After observing this huge growth, the market experts are now advising the investors to sell their stocks. The share price of the company has increased 27 per cent in the last month.
According to a report by Money Control, on September 20, 2002, the shares of Gabriel India were trading at the level of Rs 2.5. The stock has given a return of 12,100 per cent since then compared to its current levels. It means that if a person had invested Rs 82,000 in these shares in 2002, then its value today would have reached nearly Rs 1 crore.
In March 2022, the share price of Gabriel India was at Rs 129 and in just 6 months it jumped to above Rs 300. So, not only in the long term but also in the short term this stock has given huge profits to investors.
Recently, Gabriel India stock surged to a record high of Rs 338.35 on September 5 on NSE. Since then, the multibagger auto ancillaries stock has dropped nearly 7 per cent.
While observing the trend, the online currency trading company, Geojit BNP Prabhas has predicted the possibility of the stock falling by 13 per cent.
The market capitalisation of Gabriel India currently stands at Rs 4,520 crore. Shares of Gabriel India have surged 70 per cent so far this year.
Shares of the Gabriel India closed at 0.72 per cent lower at Rs 315.25 apiece on NSE on Monday.
Godrej Properties Sells 670 Apartments Worth Rs 2
Godrej Properties, the real estate development arm of the Godrej Group has sold 670 apartments worth over Rs 2,000 crore in its newly launched housing project located in Sector 146 of Noida, Uttar Pradesh. According to the company, the launch of Godrej Tropical Isle has been the most successful project in terms of sales volume and value. The project was started in August after the company won the land through an e-auction conducted by the Noida Authority in November last year.
Gaurav Pandey, the MD and CEO of Godrej Properties, said that Noida is an extremely important market for Godrej Properties and they will look further to strengthen the company's presence in the area in the coming years.
Sector 146 in Noida is a preferred residential area because of its strategic location close to social and commercial centres such as the Noida Special Economic Zone (SEZ), entertainment hubs and Film City. Along with this, it has good connectivity to different parts of Delhi, which makes it a perfect location for those who are looking for a residential property in Delhi-NCR.
Godrej Properties, on September 24 also bought 15 acres of land in Sector 103 of Gurugram, Haryana, for Rs 403 crore from Microtek Infratech.
Last year, in December, Godrej Properties acquired a nine-acre land parcel in Gurugram for a premium residential project. The real estate company is currently developing luxury homes at Golf Course Road in Gurugram with a revenue potential of Rs 3,100 crore.
Godrej Properties is one of the leading real estate developers in the country. It mainly focuses on Delhi-NCR, Mumbai, Bengaluru, Pune and other metropolitan regions for the development of residential projects. The company is expecting 14 per cent growth in sale bookings this fiscal year to a record Rs 14,000 crore.
According to company records, the total income of the first quarter of this fiscal has increased to Rs 1,265.98 crore from Rs 426.40 crore in the corresponding period of the previous year.
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Mutual Funds Investment
Mutual funds have recently become one of the most popular tools of investment. The investors are putting their money in mutual funds due to higher return and a wide range of options. Just like fixed deposits (FD), there are many mutual funds which also offer a steady return. Each scheme is suited for particular needs. Those, who are new to the mutual fund investments, often get confused over redemption of a mutual fund or to switch to a new scheme.
Transferring funds from one mutual fund scheme to another is known as switching mutual funds. Your total investment is just transferred from one mutual fund scheme to another for better returns or to mitigate the risk. On the other hand, mutual fund redemption refers to taking money out of a scheme or simply withdrawing your investment.
You should know that for switching mutual funds, the schemes should belong to the same family. These are the things you should keep in mind while switching mutual funds:
• The first is investment strategy, because if you feel that the returns of a particular fund of the same family are better, then you should switch.
• Secondly, pay attention to the tax, because if you switch it from a taxable account, you may have to pay capital gains tax on it.
• The third aspect is fees and expenses. Before switching your investment, you must check the fees charged on it.
In case you want to redeem your mutual fund, keep the following points in mind:
• First, you will have to sell your holding and get the money transferred to your account. For this, focus on the financial goal. If your financial goals have changed and you no longer want to continue investing in the mutual fund, it would be better to redeem.
• Second, you should pay attention to the performance and risk of your investment. If the risk on your investment is increasing or its returns are decreasing, you should consider redemption.
• If you have invested in the short term and need money in the near future, then it would be better to redeem your mutual fund.
Redeeming or switching a fund entirely depends on your decision and financial need.
When changing mutual funds, there is typically no capital gains tax to be paid. On redeeming you may have to pay taxes for certain mutual funds if the investment tenure is more than 3 years.
Additionally, you will not be able to receive returns on a fund if you redeem it, which makes it preferable to switch.
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No salary for Mukesh Ambani's children
The three children of billionaire Mukesh Ambani – Akash, Isha and Anant – would not be issued a salary by Reliance Industries Ltd (RIL), but they would be eligible for a fee to be paid for attending the board and committee meetings, stated a resolution issued by the company.
The resolution was moved to seek nod from the shareholders for their appointment to the company's board. The plan to nominate the trio, considered as the next-generation leaders of the oil-to-telecom conglomerate, as members of the board was announced at RIL's annual general meeting held last month.
Reliance has now sent out a postal ballot to shareholders seeking a nod for their appointment as board of directors of the company.
"They shall be paid remuneration by way of fee for attending meetings of the Board or Committees thereof or for any other meetings as may be decided by the Board, reimbursement of expenses for participating in the Board and other meetings and profit-related commission," the notice said.
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Ambani, the chairman and managing director of RIL, drew nil salary from the company since the 2020-21 fiscal year, whereas, other executive directors including his cousins Nikhil and Hital are paid a salary, perquisites, allowances and commission.
His three children - twins Akash and Isha (both 31) and Anant (28 years) - will get only a sitting fee and a commission on the profit earned by the firm, according to the resolution.
The terms of the appointment of the three are the same as the ones on which Ambani's wife Nita was appointed to the company board in 2014. She earned a sitting fee of ₹6 lakh and a commission of ₹2 crore in the 2022-23 fiscal year (April 2022 to March 2023), according to the company's latest annual report.
Ambani, 66, had at the company's annual shareholders meeting last month announced that his three children Akash, Isha and Anant would be inducted into Reliance's board of directors (BoD).
Ambani first talked of a succession plan at the RIL in 2022, where he announced that each of his three children would head various divisions of the company (Akash to head telecom, Isha to head retail, and Anant to head new energy).
He did not divulge the succession plan for Reliance's mainstay oil-to-chemicals or O2C business division.
Reliance shareholders at the AGM last month gave a nod to Ambani getting another five-year term till 2029 as the head of India's most valuable company.
As part of the succession planning, Nita resigned as a director of Reliance but she has been made a permanent invitee to all board meetings.
Among Ambani's children, Isha, 31, is a graduate of Yale University with a double major in Psychology and South Asia Studies and an MBA from Stanford University, and "is driving the expansion of Reliance Retail into new categories, geographies and formats," the shareholder notice said.
"She has been instrumental in the expansion of Reliance Retail's own brand portfolio including the acquisition of some exciting Indian brands and launch of the 'Independence' brand," it added.
Isha directly holds 0.12 per cent equity shares of the company.
Ambani owns 41.46 per cent of Reliance shares.
Akash, an economics graduate of Brown University, US, heads India's biggest telecom company Jio. "At Jio, he spearheads the creation of products and services that leverage new-age technologies like 5G, Artificial Intelligence, Blockchain and the Internet of Things," it said.
Anant, also a graduate of Brown University, "is driving the expansion of energy and materials businesses of Reliance and its global operations in renewable and green energy."
"Under his leadership, Reliance aims to become a Net Carbon Zero company by 2035 by building world-scale capabilities in the production of clean fuels and materials of the future, developing next-generation carbon capture and storage technologies, creating holistic and circular materials businesses, and maximising crude to chemicals conversion," the notice said.
Akash and Isha have been on the board of directors of both Jio and Reliance Retail since October 2014. Besides being on the boards of firms helming new energy businesses, Anant is also on boards of retail and Jio. Isha has been appointed director on the board of Jio Financial Services.
(With PTI inputs)
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Source: Live Mint
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