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Infosys Q4 net up 3.8%, FY17 $ revenue growth seen at 11.8-13.

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IT software major Infosys' fourth quarter profit and operating profit margin beat analysts' expectations on Friday but revenue matched estimates. Profit grew by 3.8 percent to Rs 3,597 crore in January-March quarter compared to Rs 3,465 crore in preceding quarter. Revenue increased 4.1 percent sequentially to 16,550 crore from Rs 13,411 crore in same period.  The company says dollar revenue in Q4 rose 1.6 percent to USD 2,446 million and 1.9 percent in constant currency compared to preceding quarter.

National Small Savings Fund loan rate cut to 8.8 percent

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The National Small Savings Fund (NSSF) loan rate to the Centre as well as states has been lowered to 8.8 percent from 9.5 percent following a recent cut in small savings interest rates, an official statement said on Wednesday.

"In line with the revision of interest rates of small savings schemes, interest rates for the National Small Savings Fund (NSSF) loan to Centre and states for FY 2016-17 has been revised and fixed at 8.8 percent," a finance Ministry statement here said.

"This interest rate was felt to be burdensome on states' economies. In the context of easing the transmission of the lower interest rates in the economy, the government has taken a comprehensive view on the social goals of certain National Small Savings Schemes (NSSS)," it added.

The NSSF invests its net collection as loans to central, state and union territory governments.

In a bid to align small savings to the market, the government, last month, cut interest rates on all such schemes, including on Public Provident Fund (PPF), Kisan Vikas Patra (KVP) and senior citizen deposits.

Interest rate on PPF has been cut to 8.1 percent for the period April 1 to June 30, from 8.7 percent.

The interest rate on KVP has been reduced to 7.8 percent from 8.7 percent, while senior citizen savings schemes of five years would earn 8.6 percent interest, compared to 9.3 percent.

Here's why holding largecap funds makes sense: Morningstar

Morningstar has done intensive research on largecap funds like Birla Sun Life Frontline EQ , Franklin India Bluechip , ICICI Pru Top 100 and SBI Bluechip Fund .  Kaustubh Belapurkar of Morningstar Investment Adviser tells us the rationale for investing in them. According to him an investor should give a bigger allocation to largecap funds in his portfolio because they hold lower risks. Even a first-time investor can dabble in them because they have lower risks than other funds, he adds. The house tracks the importance of a fund by its ability to protect capital, says Belapurkar. Most funds are comfortable holding private banks than public sector banks, says Belapurkar. However, in an exception of sorts,  HDFC Mutual Fund  holds SBI, Punjab National Bank and Bank of Baroda. Although these holdings have impacted the fund’s performance, Prashant Jain who manages the fund is convinced of a turnaround in them, says Belapurkar.

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Mutual Funds approach Sebi with 30 NFO proposals in 2016

To tap the growing demand from retail investors, mutual fund houses have filed draft papers with markets regulator Sebi to launch as many as 30 New Fund Offers. Retirement, fixed maturity plan (FMP) and equity are some of the themes for which mutual fund houses have filed the applications. Interestingly, many mutual fund companies have approached Sebi for launching plans with Hindi names so that investors in rural areas understand the objectives of the schemes in a better manner. The move is seen as moving away from the old tradition of English names for investment schemes.

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Jewellers back in biz, industry keen to recoup losses

All jewellers on Wednesday called off their strike. About 60 percent of jewellers had already called off the strike after the government's assurance that the Ashok Lahiri Committee will consider all their demands. The jewellers had gone on a strike since March 2 after Finance Minister Arun Jaitley in his Budget announced a 1% percent excise tax on non-silver jewellery. Sanjeev Agarwal, CEO, Gitanjali Export Corporation, says although the industry is not happy that the duty has not been rolled back, he is relieved that jewellers are back in business. The company will make an attempt to recoup at least a part of its losses, says Agarwal.

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Indian Stock Market Trading Trending News

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The market extended rally in morning with the Sensex climbing 400 points and the Nifty eyeing 7850 level. All sectoral indices continued to be positive, tracking good monsoon forecast, better-than-expected CPI & IIP data and positive global cues. The 30-share BSE Sensex rallied 398.43 points or 1.58 percent to 25544.02. The 50-share NSE Nifty rose 121.45 points or 1.58 percent to 7830.40 that recovered 1000 points from February low of 6825.

Forecast for normal monsoon rains, after two back-to-back droughts, is the single biggest trigger for today's rally, traders said. Adequate monsoon rains will help raise agricultural productivity, adding to the country's GDP growth. Agriculture accounts for 14 per cent of India's $2 trillion economy. Normal monsoon will revive the farm sector, which has been weighed down by subdued agriculture output and falling farmers' income. The farm sector supports two-thirds of the country's population.