EPFO ​​likely to increase equity investment limit to 20 percent

                A decision may be taken in the EPFO ​​trustee meeting at the end of the month

Retirement fund body EPFO ​​is likely to approve a proposal to increase its investment in equities to 20 per cent from the current limit of 15 per cent this month. According to sources, the proposal will be considered and approved during the meeting of EPFO ​​trustees to be held on July 29 and 30. Currently, EPFO ​​can invest 5 to 15 percent of investable deposits in equity or equity-related schemes.

The proposal to revise the limit to 20 percent has been scrutinized and approved by the Finance Audit and Investment Committee (FAIC), an advisory body of the Employees Provident Fund Organization (EPFO). FAIC's recommendation will be placed before EPFO's highest decision-making body—the Central Board of Trustees (CBT)—for consideration and approval.

The Central Board of Trustees (CBT), headed by the Union Labor Minister, is likely to approve FAIC's recommendation to increase investmentin equity and equity-related schemes from the current 5-15 per cent to 5-20 per cent. In a written reply in the Lok Sabha on Monday, Minister of State for Labor and Employment Rameshwar Teli said, “The sub-committee of FIAC, CBTEPF has recommended a proposal to investment in CBT has reduced the investment pattern for EPF consideration from 5-15 percent to 5-20 percent.

EPFO started investing in Exchange Traded Funds (ETFs) in August 2015 with 5 per cent of its investable deposits in stock-linked products.

The notional return on EPFO's equity-linked investments has increased from 14.67 per cent in 2020-21 to 16.27 per cent in 2021-22 which had been a negative return during Covid. The response also pointed out that the notional rate of return on equity relatedinvestments of EPFO ​​was negative at (-) 8.29 percent in 2019-20 due to the impact of Covid-19.

Raise your earning with ideal stock to raising your funds click here and get best offers.<<<<<Best stock tips.

IndiGo flies high on expanding regional presence

Interglobe Aviation is currently trading at Rs. 1718.40, up by 24.25 points or 1.43% from its previous closing of Rs. 1694.15 on the BSE.

The scrip opened at Rs. 1657.75 and has touched a high and low of Rs. 1725.00 and Rs. 1657.75 respectively. So far 23185 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 1822.00 on 03-Mar-2021 and a 52 week low of Rs. 765.05 on 24-Mar-2020.

Last one week high and low of the scrip stood at Rs. 1725.00 and Rs. 1630.20 respectively. The current market cap of the company is Rs. 66079.14 crore.

The promoters holding in the company stood at 74.85%, while Institutions and Non-Institutions held 22.93% and 2.23% respectively.

In its bid to strengthen regional connectivity, InterGlobe Aviation (IndiGo) has declared Rajkot as its next destination on the 6E network. The airline will operate direct flights from Rajkot to Bengaluru, Delhi, Mumbai, and Hyderabad as part of its summer 2021 schedule, with effect from March 28, 2021. These new connections will strengthen connectivity between Rajkot and the key metro cities in the country, while fulfilling the demand for enhanced connectivity.

InterGlobe Aviation provides air transportation services in India and internationally. The company primarily operates IndiGo passenger airline.

Get watch our process Click here Ideal Stock Investment , daily call profit, Market News, Fill Our ask an Expert form.