SEBI Allows Investment Advisers to Advertise Verified Performance Metrics

In a significant shift, the Securities and Exchange Board of India (SEBI) has amended its regulations to allow registered investment advisers (RIAs) to advertise their past performance. However, there is a catch—this performance must be verified through a newly introduced mechanism known as the Past Risk and Return Verification Agency (PaRRVA).

What Has Changed?

Until recently, SEBI regulations strictly prohibited investment advisers from referencing past performance in their advertisements. The rationale behind this was to protect investors from potentially misleading or exaggerated claims that were not backed by independent validation.

In its latest circular, SEBI has now amended this regulation, providing RIAs with the opportunity to share performance-related metrics, but under strict conditions.

Introduction of PaRRVA: A New Verification Mechanism

To bring credibility and standardisation to performance metrics, SEBI has introduced PaRRVA—a concept akin to a credit rating agency but tailored specifically for the investment advisory space.

PaRRVA will be responsible for verifying risk-return metrics claimed by RIAs. Only after verification by PaRRVA can advisers include such metrics in their promotional materials.

SEBI’s Official Statement on the Amendment

In its circular dated May 21, 2024, SEBI stated: “In order to enable IAs and RAs to avail the services of PaRRVA and make claims in their advertisements using risk-return metrics verified by PaRRVA, it has been decided to amend the above-mentioned clauses of the Master Circular for IAs and RAs…”

This amendment brings an official structure to the process, ensuring that only metrics validated by SEBI-recognised agencies can be used for public promotions.

Criteria for Becoming a PaRRVA

SEBI has also issued operational guidelines detailing the eligibility criteria for entities aspiring to become a PaRRVA. These include:

  • Minimum 15 years of existence
  • Net worth exceeding ₹100 crores
  • A client base of over 250 issuers with listed or proposed-to-be-listed debt securities
  • A fully functional online investor grievance redressal mechanism 

Essentially, SEBI has opened the door for established Credit Rating Agencies (CRAs) to become PaRRVA entities, subject to these qualifications.

Significance of the Move

This development marks a pivotal moment in India’s investment advisory landscape. It strikes a balance between transparency and investor protection. While RIAs gain the ability to showcase their past performance, SEBI ensures that such claims are credible and standardised through third-party verification.

Conclusion

SEBI’s latest amendment offers a structured pathway for investment advisers to advertise their performance in a manner that is both transparent and trustworthy.

The introduction of PaRRVA as a verification agency adds a much-needed layer of authenticity, ensuring that retail investors are not misled by unverified or inflated claims. While this move is aimed at enhancing transparency, it also raises the bar for RIAs wishing to differentiate themselves in a competitive market.

 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.

IGL Share Price Falls Over 5% After CNG Price Hike Announcement

On Monday, April 7, Indraprastha Gas Ltd. (IGL) announced a price increase for Compressed Natural Gas (CNG) across its operational areas. The revision sees a ₹1 per kilogram hike in Delhi and a ₹3 per kilogram hike in other regions such as Noida and Ghaziabad.

With the revision, the updated CNG price in Delhi now stands at ₹76.09 per kg, while in Noida and Ghaziabad, it has risen to ₹84.70 per kg. This marks the first increase in CNG prices in the Delhi market since June 2024.

Delhi Remains a Key Market for IGL

Delhi plays a pivotal role in IGL’s business operations, accounting for 70 per cent of its total CNG sales. The remaining 30 per cent is distributed across other regions. While markets outside Delhi witnessed a price increase in November 2024, this recent hike now includes the national capital after a gap of several months.

Link to Administered Price Mechanism (APM) Hike

The CNG price increase comes soon after the Indian government revised natural gas prices under the Administered Price Mechanism (APM). Effective from April to September 2025, the APM rate has been set at $6.75 per mmBtu, a 4% increase from the previous rate of $6.5 per mmBtu that remained unchanged for the first three months of the year.

This latest revision is the first since April 2023 and aligns with the recommendations of the Kirit Parikh panel, which allowed a 4% annual increase starting from the 3rd year of implementation.

Market Reaction and Stock Performance

As of 11:54 AM on April 7, the share price of IGL had declined by over 5%, making it one of the key stocks in focus for the day. The market’s reaction highlights concerns over how the price hike might affect consumer demand and overall margins, especially in a competitive and regulated segment such as city gas distribution.

Conclusion 

The impact of the price increase on customer behaviour, volume demand, and profitability remains to be seen. Additionally, other city gas distribution companies like Mahanagar Gas Ltd (MGL) may also come under investor scrutiny as market participants assess the broader implications of the gas price policy framework and demand elasticity.

 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.

Do You Have to Pay Tax When Selling Old Family Gold? Here’s What You Should Know

Selling family gold may feel sentimental, but for tax purposes, it is treated purely as a financial transaction. When you sell inherited gold, such as ornaments passed down from your grandfather, it is considered a capital asset under Indian tax laws. The key factor is that the transaction falls under the capital gains head, not income from other sources.

Inherited Gold and Long-Term Capital Gains (LTCG)

Because the gold was originally acquired by your grandfather, the date of acquisition will be considered from the time he purchased it. If the gold was bought before April 1, 2001, the fair market value (FMV) as of that date becomes the cost of acquisition.

The formula for calculating the capital gain is:

Sale Price – FMV as of 01 April 2001 = LTCG (Long-Term Capital Gain)

Since the holding period exceeds 24 months, the gains qualify as long-term capital gains, which are taxed accordingly.

What if There Are No Purchase Bills?

It’s common for older family gold to have been purchased without formal invoices or documentation. In such cases, the Income Tax Department allows valuation by a registered valuer. This expert-assessed value can then be used as the cost of acquisition. Ensure the valuer is recognised and provides the appropriate certification, which may be required during any scrutiny or assessment.

Tax Rate on Long-Term Capital Gains from Gold

As per current tax provisions, LTCG on the sale of gold is taxed at 12.5%, in addition to any applicable surcharge and cess. This rate is fixed and does not vary with income slabs. You cannot claim indexation benefits on gold jewellery unless specified otherwise in future budget amendments.

Pension and Interest Income: Tax Treatment Simplified

If you’re also receiving pension income, it is taxed under the head ‘income from salaries’. You may be eligible for:

  • Old Tax Regime: Standard deduction of ₹50,000
  • New Tax Regime: Enhanced standard deduction of ₹75,000

In addition, senior citizens (60 years or older) can benefit from Section 80TTB, which provides an exemption of up to ₹50,000 annually on interest from fixed deposits, post offices, and cooperative banks.

For those below 60 years, Section 80TTA allows a deduction of up to ₹10,000 on savings account interest only — fixed deposits are not included. These deductions are not available under the new tax regime.

The Role of Section 87A: Complete Tax Rebate for Modest Incomes

Even without exemptions on interest income, individuals with a total taxable income below ₹5 lakh can benefit from Section 87A, which provides a full rebate on tax payable. In fact, under the new tax regime, this rebate applies for incomes up to ₹7 lakh, and for FY24, the government has further increased it to cover income up to ₹12 lakh under certain conditions.

This means that even if you’re earning a pension and interest income, your overall tax liability may be nil, provided your total income falls within this threshold.

Conclusion 

Understanding tax implications before selling family gold or declaring pension and interest income can prevent unpleasant surprises during assessments. While there may be emotional value attached to inherited gold, the tax department views it through a capital gains lens. When in doubt, consider getting a registered valuation and explore available deductions or rebates applicable to your age and tax regime.

 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.

AstraZeneca Gets Approval from CDSCO for Osimertinib Tablets

AstraZeneca Pharma India Limited has received approval from the Central Drugs Standard Control Organization (CDSCO), which is part of the Indian Government’s Health Department. This approval allows the company to import and sell a medicine called Osimertinib Tablets (TAGRISSO) in 40 mg and 80 mg doses.

Purpose of the Approval

The approval allows Osimertinib to be used with 2 types of chemotherapy medicines, pemetrexed and platinum-based drugs, as the first treatment for patients with advanced or spreading non-small cell lung cancer. It is meant for patients whose cancer has specific genetic changes like EGFR exon 19 deletions or exon 21 L858R mutations.

Impact of the Approval

AstraZeneca is now allowed to market TAGRISSO for its newly approved use in India. However, the company still needs to secure other required government approvals before it can begin full-scale sales and distribution.

About the AstraZeneca Pharma India Limited

AstraZeneca Pharma India Limited is a leading biopharmaceutical company focused on discovering, developing and delivering innovative medicines. It operates mainly in the areas of oncology, cardiovascular, renal, metabolic and respiratory diseases. As part of the global AstraZeneca group, the company aims to improve the health of patients in India through advanced treatments and strong research-based solutions.

Share Price Performance 

As of April 07, 2025, at 11:00 AM, AstraZeneca Pharma share price is trading at ₹7,727.25 per share, reflecting a loss of 2.24% from the previous day’s closing price. Over the past month, the stock has registered a profit of 3.47%. The stock’s 52-week high stands at ₹9,059.05 per share, while its low is ₹4,800.15 per share.

Conclusion

This new approval is a major step for AstraZeneca in expanding its cancer treatment options in India. Once the remaining approvals are in place, TAGRISSO will offer a new line of treatment for many lung cancer patients with specific genetic changes, improving the availability of advanced cancer care in the country.

 

 

 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.

Female Government Employees Can Nominate Children for Family Pension

In a progressive move, the Department of Personnel and Training (DoPT) has issued an order allowing female government employees and pensioners to nominate their children for family pension, instead of their husband, under specific legal circumstances. This decision marks a significant step towards protecting the interests of women navigating marital disputes or facing domestic challenges.

Legal Provisions for Pension Nomination

As per the DoPT order (No. 25014/01/2024-AIS-II (Pension)), women officers of All India Services (AIS) and pensioners can now prioritise their children over their husband for receiving family pension. This applies in cases where divorce proceedings are pending or legal complaints have been filed under the Domestic Violence Act, Dowry Prohibition Act, or sections of the Indian Penal Code. The directive allows these women to submit a request specifying eligible children as beneficiaries, thereby ensuring that the pension is safeguarded for their dependents.

Extension of Existing Policy to AIS Officers

This provision was earlier introduced for other categories of government employees by the Department of Pension and Pensioners Welfare (DoP&PW) on 1 January 2024. The latest order extends the same relief to women officers of the All India Services, ensuring uniformity in pension rules. The change comes as a response to the increasing need for institutional support for women undergoing marital discord, offering them autonomy and security in determining the future of their family pension.

Conclusion

The government’s decision to allow female government employees to nominate their children for family pensions in cases of marital dispute reinforces its commitment to women’s rights and welfare. It offers both emotional and financial assurance to affected women and their families during challenging times.

 

 

 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.

India Seeks Trade Deal to Sidestep US Tariff Retaliation Option

As per news reports, India is unlikely to immediately retaliate against the 26% tariff imposed by President Donald Trump on US imports from the country. The Indian government is prioritising negotiations for a bilateral trade agreement that could lead to reduced duties and more balanced trade relations.

Pursuit of a Balanced Trade Agreement

According to a government official, India is focusing on securing a fair and equitable trade deal with the United States. The official highlighted India’s preference for dialogue rather than confrontation, underlining its strategic position as a first mover in the region. All aspects of trade—including goods and services—are reportedly on the table for negotiation, and India is actively engaging with its exporters to monitor and manage the tariff’s impact.

Contrasting Approaches in the Region

The decision to abstain from immediate retaliation stands in contrast to China’s move, which saw a swift response in the form of a 34% retaliatory tariff on all goods imported from the US. India’s strategy reflects a calculated approach, focusing on long-term economic stability. During Prime Minister Narendra Modi’s recent visit to Washington, he and President Trump reportedly agreed to finalise a trade agreement by the autumn. This comes despite India already making several concessions in earlier discussions, including a willingness to lower duties on American imports.

Conclusion

India’s measured response to the US tariff hike indicates its broader aim to maintain stable diplomatic and trade relations. As per reports, the nation is leveraging ongoing dialogue to shape a more favourable trade framework with the United States.

 

 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.

Jio Free 4K IPL Streaming on JioHotstar Extended to April 15

The 18th season of the Indian Premier League (IPL) has officially begun, drawing attention from cricket fans across the country. With matches now streaming exclusively on the new OTT platform JioHotstar, Jio has rolled out dedicated prepaid plans to ensure seamless access for its users.

What began as a limited-time offer has now been extended until 15 April, owing to an overwhelming response from fans across the country.

Tailored Prepaid Plans for Every Cricket Fan

To cater to a wide audience, Jio has introduced a range of prepaid plans that bundle JioHotstar access with data benefits. The most affordable among them is the ₹100 Add-on Plan, which offers 5GB of data valid for 90 days. While it lacks voice or SMS benefits, it is ideal for users who already have an active plan and want budget-friendly Hotstar access.

For those needing more data, the ₹195 Cricket Data Pack provides 15GB of data for 90 days, also excluding voice and SMS services. Meanwhile, the ₹949 Comprehensive Plan stands out as an all-in-one option. It includes 2GB of daily 4G data, unlimited 5G, unlimited calls, 100 SMS per day, JioCloud, and JioHotstar access for 84 days. These plans allow fans to stream the IPL in high definition without worrying about additional charges.

Enhanced Streaming and Broadband Experience at No Extra Cost

Beyond prepaid plans, Jio is offering a 90-day free subscription to JioHotstar in 4K resolution, available on both mobile and TV. This ensures fans never miss a match, whether at home or on the move.

In addition, a 50-day free trial of JioFiber and JioAirFiber services is being offered. This broadband package brings more than just cricket—users gain access to over 800 TV channels, 11 OTT platforms, and unlimited WiFi, significantly boosting the overall entertainment experience.

Reliance Industries Share Performance 

As of April 07, 2025, at 12:30 PM, Reliance Industries share price is trading at ₹1,148 per share, reflecting a loss of 4.82% from the previous day’s closing price. Over the past month, the stock has registered a decline of 8.25%.

Conclusion

With IPL 2025 capturing the imagination of millions, Jio’s strategic integration of data plans, OTT access, and home broadband services offers a comprehensive and cost-effective solution for cricket fans.

By extending its exclusive JioHotstar access, Jio ensures that every moment of the IPL is just a tap away, delivering unmatched convenience and entertainment throughout the season.

 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.

L&T Creates a New Unit for Green Hydrogen and Ammonia Sector

Larsen & Toubro Limited, a leading Indian conglomerate in engineering and construction, has taken a significant step towards expanding its green energy footprint. On 4 April 2025, the company announced the incorporation of L&T Green Energy Kandla Private Limited (LTGEK), a wholly owned step-down subsidiary under L&T Energy Green Tech Limited. This development aligns with L&T’s focus on renewable energy, particularly green hydrogen.

Formation and Structure of LTGEK

LTGEK has been established with an authorised capital of ₹1,00,000, comprising 10,000 equity shares of ₹10 each. The entire capital is subscribed in cash by L&T Energy Green Tech Limited and its nominee shareholder. While the company is yet to commence operations, it falls under the related party framework, though at arm’s length with no direct promoter group involvement. The acquisition required no external regulatory approvals, making the incorporation swift and compliant.

Strategic Focus on Green Hydrogen

The primary objective of LTGEK is to develop projects related to green hydrogen and its derivatives such as green ammonia. The company has been incorporated solely for this purpose and will engage in other related activities in the renewable sector. With India increasingly shifting towards clean energy, L&T’s move places it in a strong position to contribute to and benefit from this transition. Though LTGEK currently has no operational or financial history, it represents a forward-looking investment in sustainable infrastructure.

L&T Share Performance 

As of April 07, 2025, at 11:10 AM, L&T share price is trading at ₹3,055.00 per share, reflecting a loss of 6.29% from the previous day’s closing price. Over the past month, the stock has registered a decline of 5.85%.

Conclusion

By setting up LTGEK, L&T reaffirms its commitment to building a sustainable future. The strategic push into green hydrogen through this subsidiary strengthens its role in India’s clean energy mission and sets the stage for future-ready energy solutions.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.

Tata and Bajaj Mutual Funds File Draft with SEBI for New Schemes

Tata Income Plus Arbitrage Active Fund of Fund (FOF) and Bajaj Finserv Nifty 50 Index Fund have filed their draft documents with SEBI. Below is a summary of features from both schemes.

Tata Income Plus Arbitrage Active FOF

Tata Mutual Fund has filed for an open-ended Fund of Fund scheme under the active hybrid category. The fund will invest in a combination of debt-oriented mutual fund schemes and arbitrage-based equity mutual fund schemes.

  • Investment Objective: Long-term capital appreciation by investing in domestic mutual funds, including debt and arbitrage schemes. No guarantee of achieving the objective.
  • Asset Allocation:
    • 55% to 65% in debt-oriented mutual fund schemes
    • 35% to 40% in arbitrage-based equity mutual fund schemes
    • Up to 5% in debt and money market instruments
  • Minimum Investment: ₹5,000 (initial), ₹1,000 (additional)
  • Exit Load: 0.25% if units are redeemed within 30 days
  • Benchmark: 60% CRISIL Composite Bond Fund Index + 40% Nifty 50 Arbitrage Index (TRI)
  • Plans: Regular and Direct, with Growth and IDCW (Payout/Reinvestment) options
  • NAV Disclosure: Published by 11 PM on the next business day

The scheme will not engage in short-selling or stock lending. SIP, STP, and SWP facilities will be available. The face value per unit is ₹10.

Bajaj Finserv Nifty 50 Index Fund

Bajaj Finserv has proposed an open-ended equity scheme tracking the Nifty 50 TRI. It aims to replicate the index’s performance, subject to tracking error.

  • Investment Objective: Replicate returns of the Nifty 50 Index through investment in its constituent stocks.
  • Category: Index Fund
  • Minimum Investment: ₹500 (lump sum and SIP)
  • Exit Load: Nil
  • Benchmark: Nifty 50 Total Return Index (TRI)
  • Plans: Regular and Direct with Growth and IDCW options
  • NAV Disclosure: Before 11 PM on all business days

The scheme offers daily, weekly, fortnightly, monthly, and quarterly SIP options, along with Wealth SIP and SWP facilities.

Conclusion

Both schemes are currently in the draft stage. Once approved, they will offer two distinct approaches – Tata’s hybrid allocation model and Bajaj Finserv’s index-tracking strategy.

Want to plan regular withdrawals? Our SWP Calculator helps you calculate how much you can withdraw while keeping your investments intact. Try it now!

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.

Mutual Fund investments in the securities market are subject to market risks. Read all the related documents carefully before investing.

NFO: Kotak Mutual Fund Launches Index Fund and ICICI Mutual Fund Extends NFO Period

EV-focused strategy and a fresh top 10 large-cap equal weight play enter the market with new details and timelines.

EV & New Age Auto ETF FOF Gets Extension

ICICI Prudential Mutual Fund has extended the NFO period for its Nifty EV & New Age Automotive ETF Fund of Funds by one day. Originally slated to close on April 10, 2025, the new closing date is now April 11, 2025. This extension gives investors a little more time to tap into the automotive sector via a passive strategy that mirrors the Nifty EV & New Age Automotive Index.

This fund aims to provide exposure to companies shaping the future of mobility, think electric vehicles, advanced auto tech, and mobility services. It’s a Fund of Fund (FOF), which means it invests in another ETF instead of buying the underlying stocks directly.

Kotak Nifty Top 10 Equal Weight Index Fund

Meanwhile, Kotak Mahindra Mutual Fund has launched the Kotak Nifty Top 10 Equal Weight Index Fund – Direct Plan. This open-ended equity scheme is for those looking to ride on India’s ten most influential large-cap stocks but with a twist.

Unlike traditional cap-weighted funds, this one follows an equal weight strategy, giving 10% weightage to each of the top 10 companies in the Nifty 50 Index, regardless of market cap. This helps avoid concentration in just a few large players and allows balanced exposure across the top 10.

  • NFO Period: April 7– April 21, 2025
  • Category: Equity – Large Cap
  • Minimum Investment: ₹100
  • Plans Available: Growth & IDCW
  • Exit Load: None
  • Riskometer: Very High
  • Benchmark: Nifty Top 10 Equal Weight TRI
  • Fund Manager: Devender Singhal
  • Registrar: Computer Age Management Services Ltd.

Conclusion

Both offerings cater to forward-looking investors; ICICI’s FOF leans into the EV revolution, while Kotak’s new fund brings an equal-weighted approach to large caps. With low entry points and strategies, these NFOs add interesting options to the April lineup for equity-focused investors.

Plan your SBI SIP investments better! Use our easy-to-use SBI SIP Calculator and estimate future returns with just a few clicks. Your financial growth starts here.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.

Mutual Fund investments in the securities market are subject to market risks, read all the related documents carefully before investing.