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© Brooks Elliott

Nearly 25 mutual fund companies, managing equity assets worth Rs 1,90,000 crore, reduced positions in 145 stocks in June when they added 160 stocks. The Stocks which were created from mutual fund involved companies like Network 18 Media & Investments, IBN18 Broadcast, Karur Vysya Bank, Muthoot Finance, Sabero Organics Gujarat, and United Bank of India.
By the June end, the well-known stocks among 25 mutual fund houses involved ICICI Bank, Infosys, Reliance Industries, State Bank of India, Tata Consultancy Services, ITC and HDFC Bank. These mutual fund schemes hold investments in 730 stocks approximately. Sandesh Kirkire the CEO of Kotak mutual Fund was in the opinion that the momentum in the equities market has been inactive because of tepid FII participation, issues related to honesty in political and corporate space.

© Brooks Elliott

In the dictionary of finance, growth stocks are the number of companies that generate a steady and maintainable and its revenues and incomes are expected to increase faster rate as compared to an average company of the same industry. These companies of growth stocks have a particular competitive advantage like a new product, a breakthrough patent, overseas expansion etc. which allows it to repel competitors. Growth stocks generally pay smaller dividends, as they reinvest retained earnings in capital projects.
The analysts calculate Return on equity (ROE) by dividing a company's net income into average common equity. To be a part of growth stocks, analysts usually expect companies to attain equity higher than 15%. Canslim is a well-known method which identifies these Growth stocks. It was created by William O'Neil a stock broker and publisher of Investment Business Daily.

© ruurmo

Italian oil major ENI looks to invest $7 billion in Venezuela on projects to boost its output. The target is to achieve 240,000 barrels per day by 2018. Company CEO, Paolo Scaroni made the statement at a press conference with the Venezuelan Enery Minister Rafael Ramirez.
ENI will invest in the projects with state owned PDVSA- controlled joint ventures Petrojunin and Petrobicentenario. They will invest in developing the crude reserves in the Orinoco Belt of north eastern Venezuela and also construct an oil refinery in the state of Anzoategui.
The company is going to invest this amount to market diesel for the European market from the extra heavy crude extracted by the Petrojunin unit in the Orinoco belt. This crude will be processed at the refinery at Petrobicentenario.
In the first phase ENI will invest $2 billion in the two joint ventures while PDVSA will invest $1 billion. This money will be used to develop the heavy oil block's early production phase and the construction of the refinery.