How to buy the Correct AC - Air Conditioner

How to buy the Correct AC - Air Conditioner

Getting the capacity of the AC right is a must to enjoy a cool summer without it being a drain on your pocket.

It is going to be a much hotter summer this year, according to the the Indian Meteorological Department.

And so, it be comes all the more important that you pick an air conditioner (AC) whose capacity is just right to get the best cooling for your room at a reasonable cost.

If you buy an AC with a lower than required capacity--measured in tonnage- it will consume a lot more energy to provide the requisite cooling.
“Lower capacity units may save you on capital cost, but it will increase the electricity consumption and also decrease the life span of the device,“ says Varun Gupta, Partner, Kool Services, a Mumbai-based AC service provider.
If you buy an AC with a higher than required capacity, you will end up paying more for the purchase, besides getting large power bills. Getting the tonnage right is key to getting the most bang for your buck.

Here's how you can arrive at the right AC capacity for you and enjoy a cool summer--at no extra costs. 

First, find out your the area of you room. Then divide it by 600 to get the basic capacity. So, if you room is 100 square feet, the basic AC capacity required will be 0.167 tons (100 600). Now, you need to add 0.5 ton to the basic capacity for every five people in the room.Ordinarily, an AC of 0.8-ton capacity will work just fine for a 100 square feet room.

There are a few additional factors you need to keep in mind. “If you stay near places where summers usually cross 45 degrees, you need consider adding 0.5 ton extra for effective cooling,“ suggests Ankit Chugh, Founder of Review Center India, a consumer electronics blog.

“Also, if you stay on the top floor of your building, it is advisable to go for a little higher tonnage,“ suggests Gupta.

Energy efficiency ratings..!

To help you buy energy-efficient ACs, Bureau of Energy Efficiency (BEE) in 2016 came up with a new rating methodology, ISEER (Indian Seasonal Energy Efficiency Ratio) Ratings, which are better and stringent. Higher the star ratings of an AC, lesser the power it consumes.

This, however, does not mean that you should always go for a 5-star rated AC, say experts.The decision should mainly be based on your usage pattern.
“If you are going to run the AC for few hours daily, then a 3-star rated AC is good enough,“ says Chugh.Also, lower star-rated ACs usually have higher air circulation rate, so your room cools faster.

Experts suggest that only if your AC usage is over eight hours do you need the costlier but less pow er consuming 5-star rated AC, to make a worthwhile difference to your electricity bill.

After-sales service..!

Much like cars, ACs need regular servicing for optimum performance. So, one of the things you need to keep in mind before buying an AC is the company's aftersales service, and warranty. A little research will throw up names of the best and the worst service providers. Choose appropriately.

Src:YOGITA KHATRI, ET


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Sunday or Monday Pay pour Insurance Premium anyday, anytime, anywhere

Sunday or Monday 
Pay your Insurance Premium 
anyday, anytime, anywhere
from LIC of India Advt
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Smart Phone Smart Banking

Smart Phone 
Smart Banking 

From Canara Bank advt 
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Aadhaar Card Needed everywhere

Aadhaar Card 
Needed everywhere

FFrom Amul - Ab sab Ispar Aadhaarit?
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Madras High Court revokes sales ban on illegal housing plots on agriculture lands..!

Madras High Court revokes sales ban on illegal housing plots on agriculture lands..!

The Madras High Court on March 29, 2017 relaxed the blanket stay order relating to registration of property on unapproved layouts, waterways and water bodies and agricultural lands.

Modifying the court’s earlier order dated September 9, 2016, the first bench of Acting Chief Justice Huluvadi G Ramesh and Justice R M T Teekka Raman said the registering authorities may register documents relating to transfer of ownership of lands converted as house sites, which were earlier registered without the permission from the planning authority, concerned.

The bench, however, made it clear that no document relating to transfer of ownership of the property, which were not previously registered, shall be registered.

Earlier, Advocate-General R Muthukumaraswamy told the judges that the State government has taken a policy decision to regularise the unapproved plots. 

The government needs a week’s time to finalise it.
In the meantime, the government may be permitted to register the documents pertaining to house sites, which were already registered.

The bench also noted that subsequent to the (interim) order of the court dated September 9, 2016, the  government had brought an amendment to Section 22 A of the Registration (Tamil Nadu Amendment Act) Act 2008 on October 20, 2016. It granted exemption to the refusal of registration of certain documents, which provides that the house sites without permission from the planning authority be registered if it is shown that the same site has been previously registered as a house site.

The bench said that it was inclined to modify the interim order to the effect that the registering authorities are permitted to register the documents relating to the transfer of ownership of the lands converted as house sites, which were previously registered without the permission of the development from the planning authority concerned.

The matter has been adjourned to April 11, 2017.
Since September 9, 2016, all forms of sale, resale and registration of unapproved plots and layouts had been put on hold in the State since the court had imposed the blanket ban on such transactions.


The earlier first bench headed by the then Chief Justice S K Kaul, while passing interim orders on a PIL from Elephant G Rajendran, had granted the interim stay.
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6 Lakh illegal plots of Land in Tamil Nadu to benefit as Madras HC offers amnesty

6 Lakh illegal plots of Land in Tamil Nadu to benefit as Madras HC offers amnesty

With the Madras High Court on March 29, 2017 relaxing the blanket stay order relating to registration of property situated in unapproved layouts, waterways, water bodies and agricultural lands, 5 to 6 lakh such pieces of land in the State have been given a fresh lease of life.

Modifying the court’s order dated September 9, 2016, the first bench of Acting Chief Justice Huluvadi G Ramesh and Justice RMT Teekka Raman said that authorities may register documents relating to transfer of ownership of lands converted as house sites, which were earlier registered without permission from the planning authority concerned.

The bench, however, said that no document relating to the transfer of ownership of properties which were not previously registered, shall be registered.

Registration department officials say the buzz that was missing in registration offices since the interim stay order was passed, is all set to return in the next couple of days once the department receives the copy of the latest order.
Since September 9 last year, all forms of sale, resale and registration of unapproved plots and layouts had been put on hold in the State since the court had imposed a blanket ban on such activities.


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Financial Jokes - Happy March Ending



Financial Jokes -  Happy March Ending..


Son :- Why is 1st April celebrated as Fools Day ?

Father :- Because after paying all the income taxes up to 31st March, we start working for the government again from 1st April ......

Best answer ever :-
 
Wife : - "Why in all marriages girl sits on left side and boy on right side"?

Husband : - "According to profit and loss statement Account all income is on right side and expenses are on left side".....

Happy March Ending
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India - These 10 Transactions Will Get Reported To Income Tax Department

India - These 10 Transactions Will Get Reported To Income Tax Department

From bank deposits to credit card bill payments to property transactions, financial institutions and other entities have to report transactions above a certain threshold to the income tax department.

A January 17, 2017 notification from the tax department lists the financial transactions that have to be reported.

Income tax authorities have set up an e-platform through which banks and other institutions can report the transactions to them.

Here are ten (10) key things to know:

(1) Banks have to report cash deposits aggregating to Rs. 10 lakh or more in a financial year (April 1 to March 31), in one or more accounts (other than a current account and fixed deposit) of a person. 

(2) Fixed (FDs) deposits other than renewals of a person aggregating to Rs. 10 lakh or more of a person in a financial year have to be also reported.

(3) Cash payments of Rs. 1 lakh or / more for credit card bills have to be reported. Also to be reported is payment of Rs. 10 lakh or more made by any mode (including cheque or / online/ wire transfer) to settle credit card dues in a financial year.

(4) The income tax department also reiterated its November 2016 instruction asking banks to report all cash deposits of Rs. 2.5 lakh or more made in one or more accounts of a person during November 9 to December 30, 2016.

(5) For current accounts, banks have to report deposits of Rs. 12.5 lakh or / more during the period. After demonetisation of old 500 and 1,000 rupee notes, the government had allowed the junked currency to be deposited in bank accounts during a 50-day window ending December 30, 2016.

(6) Cash deposits during April 1, 2016, to November 9, 2016 in any account that are reportable should also be intimated to the tax authorities by January 31, 2017, the notification said.

(7) Companies or / institutions have to report receipt from any person an amount aggregating to Rs. 10 lakh or more in a financial year for acquiring bonds or debentures.

(8) A similar limit is also set for reporting purchase of mutual funds units or/  buyback of shares.

(9) Purchase of foreign exchange including travellers cheque and a forex card aggregating to Rs. 10 lakh will have to be reported to tax authorities.


(10) Property (Land, house, flat) registrars will have to report to tax authorities purchase or sale by any person of immovable property for an amount of Rs. 30 lakh or more.
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New Income Tax Rules from April 1, 2017

New Income Tax Rules from April 1, 2017

From FC Bureau

Indian Income tax officials will now be able to reopen tax cases up to 10 years back if search opera­tions reveal undisclosed income and assets of over Rs. 50 lakh.

As the Lok Sabha has cleared the finance bill, the tax proposals announced in the budget and subsequent amendments are set to kick in from April 1, 2017 requiring taxpayers to brace up for change.

From the next financial year (2017-18), the cash dealings have been capped at Rs. 2 lakh with the government keeping its focus on digital modes of payment to curb black money.

From 2017 July onward it will become mandatory to quote Aadhaar number for filing income-tax returns. Not only that, a person will have to link his /her PAN number, issued by the income tax department, with the 12-digit Aadhaar number.

“The government has hit cash transactions very hard. From next fiscal, it would not be possible even for a son to take a gift of more than Rs. 2 lakh in cash from his/her father as it will be illegal. With linking of Aadhaar with PAN, the government will keep a tab on an individual's income which will help it better target the subsidies,” said Mr. Naveen Wadhwa, a senior executive with Taxmann.

High Income tax evasion..!

It is generally believed that the tax evasion is very high in India. The latest data shows that among the about 3.7 crore individuals who filed tax returns in 2015-16, only 99 lakh showed their income below the exemption limit of Rs. 2.5 lakh.
The income tax data suggests that direct tax collection – which includes corporate tax – is not commensurate with the income and consumption pattern.

As against an estimated 4.2 crore persons engaged in organised sector employment, the number of individuals filing return for salary income are only 1.74 crore.

40 amendments..!

The central government this week proposed as many as 40 amendments in the finance bill, many of which are aimed at expanding the taxpayer base, reduce litigation, eliminate black money and bring about stricter enforcement of tax laws.

With the passage of the finance bill by the Lok Sabha it has become law as it is a money bill for which the nod of the lower house is sufficient.

Income Tax savings..

Now that the new law has come into force, small and medium taxpayers are set to get relief with tax incidence coming down. The tax rate on income between Rs. 2.5 lakh and Rs 5 lakh will come down to 5% from 10%. This will reduce the tax liability of all persons below the income level of Rs. 5 lakh per annum either to zero (with rebate) or 50% of their existing liability.

Further, the concession available to people earning up to Rs. 5 lakh has been reduced by half to Rs. 2,500 under section 87A of the Income Tax Act.

Tax experts estimate tax savings of up to Rs. 7,700 for those with a taxable income between Rs. 3 lakh and Rs. 5 lakh.

For those earning between Rs. 5 lakh and Rs. 50 lakh a year, tax savings will be up to Rs. 12,900.

Surcharge..!

In accordance with the change in the law, a 10% surcharge will be applicable for individuals having annual income of Rs. 50 lakh to Rs.  1 crore.

In a big relief to the taxpayers from paper work, a one-page form has been introduced for filing return from next year (2018). 

Those earning up to Rs. 5 lakh would benefit from the new initiative which will also help the government widen the tax base.

However, no deduction will be allowed for investment in Rajiv Gandhi Equity Saving Scheme (RGESS) from assessment year 2018-19. The scheme had been brought earlier for first-time individual investors in the securities market with gross total income below a certain limit.

The government has put emphasis on compliance and has decided to not hesitate from taking intrusive measures. With the changes in the tax law becoming effective from April, income tax officials will now be able to reopen tax cases up to 10 years back if search operations reveal undisclosed income and assets of over Rs. 50 lakh.

At present, tax authorities can reopen the cases going back to 6 years but the fresh amendment gives them additional power to go after tax-evaders.
From next fiscal (2017-18), those who do not file their returns will have to fall in line. The new law provides for up to Rs 10,000 in penalty for those not filing their returns within the stipulated time.

The fine is lower at Rs. 1,000 for those earning up to 5 lakh a year.
The rules have also been amended to qualify for long-term gains for property reducing the minimum period to two (2) years from the existing three (3) years.

New section -  Rent..!

A new section 194-IB has been inserted in the Act to provide that individuals or a HUF (other than those covered under 44AB of the Act), responsible for paying to a resident any income by way of rent exceeding Rs. 50,000 for a month or part of month during the previous year, shall deduct an amount equal to 5% of such income as income-tax (TDS) thereon.

National Pension System (NPS)

This is set to bring persons who get a large rental income come into the tax net. The new provision will come into effect from June 1, 2017.

From next year, partial withdrawals from National Pension System (NPS) will not attract tax. The NPS subscribers will now be able to withdraw 25% of their contribution to the corpus for emergencies before retirement.


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Madras High Court Relaxes ban on registration of unapproved Panchayat plots and Buildings Already Registered Before October 23, 2016...!

Madras High Court Relaxes ban on registration of unapproved Panchayat plots and Buildings Already Registered Before October 23, 2016...!

About 6 months after passing an order imposing a blanket ban on registration of plots and buildings in unauthorised housing layouts in Tamilnadu. the Madras High Court on March 28, 2017 modified its order by permitting transfer of ownership of such properties, which were already registered before October 23, 2016.

The First Bench of Acting Chief Justice Huluvadi G. Ramesh and Justice R.M.T. Teeka Raman agreed to relax the ban relying on the assurance given by the State government that a proper scheme would be brought into place within a week. However, the Bench made it clear that no registration of new unauthorised property can be allowed.


The issue pertains to a PIL moved by advocate Elephant G. Rajendran seeking a direction to the government to forebear giving approval or permission to convert agricultural lands into layouts, and consequently forebear the registration authorities from registering such properties.

On September 9, 2016 the court passed an interim order banning registration of such properties in the State. Later on January 31, the ban was extended to union territory of Puducherry also.


When the plea came up for hearing on March 28, 2017, the counsels appearing for real estate developers pleaded the court to at least vacate the ban pertaining to the lands and buildings registered before the interim order was passed.
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Mutual Fund SIP Investments and Share Market trends..!

Mutual Fund SIP Investments
 and Share Market trends..!

Share Market trend
Remarks
In Bull market : Market raising
SIP will give less return than 
lump sum investments
In bear market : falling market
There is no guarantee, 
sip will give positive return - 
loss will be less than lump sum
Listless market : market in side ways
sip will give better return 
than lump sum



SIP =  Systematic Investment Plan 

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Are You Heavy On Investments? Income Tax Department Watching You

Are You Heavy On Investments? 

Income Tax Department Watching You..!



As on  March 2017
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Real Estate Regulation Authority act will bring about more stability and transparency in the Real Estate market..!

 Real Estate Regulation Authority act will bring about more stability and transparency in the Real Estate market..!

Mr. Mudhit Gupta, CMD, EMGEE Group said,

"The RERA (Real Estate Regulation Authority) act will bring about more stability and transparency in the market and thereby increase the trust of the people in it. It is also a win-win situation for the buyers and the developers as a number of industry people who are looking to misuse the market for their personal gains will now be eradicated. 

The implementation of RERA will cleanse the market and only the honest and legitimate developers will find space there. Hence serious developers are welcoming this act with open arms.   It will not only bring some discipline in the otherwise not so regulated sector but will also protect the interests of buyers and genuine developers. 
Mudhit Gupta, CMD,
EMGEE Group

As the guidelines need to be well understood most builders will take some time to understand the act in its entirety. An act like this will help change the mindset of the entire community. It will especially be tough for people whose business philosophy was to transfer funds from one project to the other, delay or non-completion of projects or selling projects pre-approvals."


About EMGEE Group: 

Established in 2002, EMGEE Group is the fastest growing Real Estate Development Company based in Mumbai. Their exemplary expertise is centered on Residential Complexes, Townships, Commercial Composites, with a strong presence in Mumbai, Khandala, and Goa. Under the guidance of Mr. Mudhit Gupta, EMGEE Group has already carved a niche for itself in the Real Estate business. Founded by Mr. Mudhit Gupta, with over two decades of experience in luxury real estate, EMGEE Group has now ventured in the affordable housing segment. The company has recently acquired over 100 acres of land parcel near Mumbai and plans to spend nearly Rs 1,600 crore to build 25,000 affordable homes over the next five years in the first phase.
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Indian Mutual fund assets hit record Rs 17.9 lakh Cr at 2017 Feb. End..!

Indian Mutual fund assets hit record Rs 17.9 lakh Cr at 2017 Feb. End..!

Mutual fund industry's asset base rose to an all-time high of Rs. 17.89 lakh crore at the end of February, 2017 primarily on account of strong inflows in equity, income and money market segments. 

The industry, comprising 43 active players, had an average assets under management (AUM) of Rs. 17.37 lakh crore at  2017 January-end, the latest data of the Association of Mutual Funds in India (AMFI) showed.

Industry experts attributed the monthly rise in asset base to inflows in income and equity categories. Besides, buoyant investor sentiment and phenomenal growth in systematic investment plans (SIPs) also helped in the growth of assets under management, they added. 

"Continued positive net inflows in long-term assets like Equity and Balance funds are an indicator that 'India is using mutual funds as long-term savings vehicle'," Bajaj Capital National Head Mutual Funds Anjaneya Gautam said. 

"With balance funds are fast catching up with equity funds in terms of getting almost same fresh flows. It indicates asset allocation approach is setting in among investors," he added. 
The industry AUM had crossed Rs. 10 lakh crore in May 2014, and it is expected to reach Rs 20. lakh crore this year. 

"The asset under management of the mutual fund industry is quite likely to cross the Rs. 20 lakh crore mark in 2017," Quantum Mutual Fund Chief Executive Jimmy Patel said. 
Overall inflow in mutual fund schemes stood at Rs. 30,273 crore in last month. 

Of this, income funds, which invest in a combination of government securities saw Rs. 10,864 crore coming in while liquid funds or / money market category, invest in cash assets like as treasury bills, certificates of deposit and commercial paper for short investment horizon, witnessed an infusion of Rs. 8,227 crore. 

Further, equity and equity-linked saving schemes saw an infusion of Rs. 6,462 crore. 
However, gilt and gold exchange-traded funds (ETFs) witnessed a pull out of Rs. 772 crore and Rs. 46 crore, respectively during the period under review. 

Mutual funds are investment vehicles made up of a pool of funds collected from a large number of investors. The funds are invested in stocks, bonds and money market instruments, among others.

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Indian Equity Indices Sector Weightages NSE-50 sector weights (%)

Indian Equity Indices Sector Weightages   NSE-50 sector weights (%)

NSE-50 sector weights (%) 

Banks 27.5
Auto  15.6
Oil & Gas 13.8
FMCG 11.6 
IT - Services 11.3
Pharmaceutical  5.2
Engineering 4.1
Power Utilities 3.3
Cement  2.9 
Telecommunication 1.9
Metals / Mining 1.5
Media  0.7
Infrastructure 0.7  

As on March 2017
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Indian Equity Indices Sector Weightages BSE-30 sector weights

Indian Equity Indices Sector Weightages

BSE-30 sector weights (%)

Banks 32. 7 
IT - Services 13.5
Auto  13.4
Oil & Gas 13.4
FMCG 13.0
Pharmaceutical 7.8   
Engineering 4.5 
Telecommunication  1.5
Power Utilities 1.2 
Metals / Mining 1.1
Cement 1.2  
Infrastructure 0.9 

 BSE-30 sector weights (%)  as on March 2017 
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LIBA and TCS launch focused PGDM program on Business Analytics to build next-gen Digital Talent

LIBA and TCS launch focused PGDM program
on Business Analytics to build next-gen Digital Talent

Loyola Institute of Business Administration (LIBA), Chennai and Tata Consultancy Services (TCS), a leading global IT services, consulting and business solutions organization, today announced its partnership to design a first-of-its-kind management programme with a specialization focused on Business Analytics. LIBA will offer this course from the next academic year (2017-18). 

The partnership will mark yet another milestone in the Industry-Academia collaboration to fulfil the growing demand for Business Analytics in India.  The Memorandum of Understanding (MoU) was signed in the presence of Fr. P Christie S.J, Director – LIBA  and Mr. Ranjan Bandyopadhyay, Vice President, HR, TCS, along with and other senior management representatives and academicians from TCS and LIBA.



Considering the increasing demand for business analytics, TCS and LIBA have collaborated to design a management course that specializes in this segment tobridge the existing skill gap in the industry. This will be offered under full time and part time MBA (PGDM) in Business Administration.
Fr. P Christie S.J, Director, LIBA, said,  “It is a momentous event for LIBA to sign a MoU with TCS, the largest IT Company in India, as an Industry Partner to offer programs in the area of Business Analytics. With its expertise, TCS will be able to add value to the students of LIBA.  LIBA is the first B-School in India which is forging ahead in signing an agreement with TCS to offer Business Analytics as a specialization for the full-time PGDM students”.

“We are extremely happy to note that LIBA with its focus on excellence and ethics has found a renowned industry partner, which espouses the same values”.

Commenting on the launch of the course, Mr. Ranjan Bandyopadhyay, Vice President, HR, TCS, said, “Analytics is emerging as a key growth area spanning industries. The need of the hour is talent that can work on delivering carefully crafted analytics solutions insights and recommendations to businesses.  TCS designed courses bring in contemporary application oriented inputs to the class room thorough its academic collaboration. We are delighted to partner with LIBA in the field of analytics.”


One of the key highlights of the course is the ‘Train the Trainer Program (TTT) Program’, in which TCS specialists will train the faculty with the Industry knowledge. TCS designed courses will also comprise of I year Executive diploma in Business Analytics, to train experienced professionals through part time/weekend programs offered at the Institute.

About LIBA: Loyola Institute of Business Administration (LIBA) is a premier B-school, established in 1979 within the premises of Loyola College. LIBA is managed by Jesuits well known for their outstanding contribution to higher education. LIBA stands for excellence and ethics which are the hallmarks of Jesuit business education and all its programs and activities embody these two elements. LIBA earnestly strives to inculcate in the students the values of excellence, justice, honesty and service to the society. LIBA focuses on the ‘holistic formation’ of students in all quotients, viz., intellectual, social, emotional and spiritual. The Institution works with an undeterred zeal to offer its students the best of the education, blending classroom and experiential learning.  

About Tata Consultancy Services Ltd. (TCS)
Tata Consultancy Services is an IT services, consultingand business solutions organization that delivers real results to global business, ensuring a level of certainty no other firm can match. TCS offers a consulting-led, integrated portfolio of IT, BPS, infrastructure, engineeringandassurance services. This is delivered through its unique Global Network Delivery Model™, recognized as the benchmark of excellence in software development. 

A part of the Tata group, India’s largest industrial conglomerate, TCS has over 378,000 of the world’s best-trained consultants in 45 countries. The company generated consolidated revenues of US $16.5 billion for year ended March 31, 2016 and is listed on the BSE (formerly Bombay Stock Exchange) and the NSE (National Stock Exchange) in India. For more information, visit us at www.tcs.com

For TCS global news, follow @TCS_News and @TCS.




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D-Mart’s Mr. Radhakishan Damani - India’s low-profile investor who is also called India’s ‘Warren Buffet’; 10 things to know about him!

D-Mart’s Mr. Radhakishan Damani -  India’s low-profile investor who is also called India’s ‘Warren Buffet’; 10 things to know about him!

By FE Online  

He likes to keep a very low-profile. He rarely makes appearances at public events and avoids speaking to the press.

Shares of Avenue Supermarts, the operator of supermarket retail chain D-Mart, on Tuesday, made a bumper debut on BSE, as its shares got listed at Rs 604.40, up 102 percent over the issue price of Rs 299. It later soared 105.68 per cent to Rs 616.25.

Do you know who is the man behind D-Mart? It is none other than Radhakishan Damani. Here’s all you want to know about the man:



1. Mr. Radhakishan Damani is also a mentor to billionaire investor Mr. Rakesh Jhunjhunwala.

2.  According to Forbes, he holds stakes in a range of companies, from tobacco firm VST industries to cement maker India Cements.

3. He likes to keep a very low-profile. He rarely makes appearances at public events and avoids speaking to the press.

4. Mr. Damani is fondly called “Mr. White and White” due to his penchant for wearing a white shirt and white trousers.

5.  Much before D-Mart happened; RK was known to be an ace investor in the stock market much like Rakesh Jhunjhunwala. Due to his Midas touch, he has successfully earned the reputation of being one of India’s finest value investors.

6.  According to reports, RK Damani began his career as a trader in ball bearings, with no intentions to enter the stock market. Post his father’s death, he was forced to close down that business and had to join his brother in the stock broking business, which was inherited from their father.

7. Damani has a net worth of $2.3 billion, according to Forbes magazine. Damani was ranked 98th in the Forbes India Rich List 2015 with a net worth of $1.15 billion.

8. As Damani and family hold 82.36 percent stake in the company, the value of their holdings is a whopping Rs 32,934 crore now.

9. His portfolio, before the listing of Avenue Supermarts, was estimated at over Rs 3,000 crore marked by smart stock picking and staying invested in several stocks “He can be called India’s Warren Buffet,” told a market source to Indian Express.

10. His property portfolio includes the 156-room Radisson Blu Resort in Alibag, a popular beach-front getaway close to Mumbai, according to Forbes.



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