Day: October 5, 2011

India Infoline is going to launch a Nifty ETF soon, and the NFO has opened on the September 28 2011, and will close on the October 12 2011.

This is going to be the 14th Nifty Index fund (I have a list of 13 other Nifty Index funds and ETFs here), and to compete in such a crowded space – India Infoline has come up with the lowest expenses of any ETF so far.

The IIFL Nifty ETF will charge 0.25% expenses which is lower than the 0.50% currently charged by the Benchmark Nifty ETF.

This is great because the expenses charged by the sponsor or mutual fund eats into the returns of the mutual fund / ETF, so the lower the expenses – the better it is.

It will be like other Nifty ETFs in all other respects meaning it will own stocks in the same composition as the S&P CNX Nifty and try to track the performance of the Nifty as best as it can.

There will always be some difference between the performance of an index fund or an index ETF and the underlying index (usually the fund under-performing the index) because of expenses, and the fact that the fund can’t own 100% of the underlying asset, and has to put aside some money for redemption, and expenses etc. Kiran had done a pretty detailed analysis of this phenomenon some time ago, and I recommend reading that.

There is no need to buy the IIFL Nifty ETF in the NFO period since you don’t get any benefit of investing in ETFs or mutual funds in that period, and it’s much better to buy it after it has listed and has been around for some time.

I would say that you need to wait a little while before investing in this even after listing because you want to make sure that there are good volumes in the IIFL Nifty ETF, and you don’t get stuck in an illiquid ETF of liquid underlying. I see that the Nifty BeeS which has expenses of 0.50% has about Rs. 650 crores under management, so I would personally feel comfortable investing in IIFL Nifty ETF only if it managed to reach at least a third of that amount, and until then pay a little extra to hold the bigger fund.

Since this is a fairly straight forward product I can’t think of including any more details, so please leave a comment with any questions or thoughts you have, and I will respond to them.

After creating a list of the dividend yields of the largest 100 companies in India – I now move on to the dividend yields of the next 100 companies, and this data belongs to companies 101 – 200 on the BSE 200 Index.

Like last time – I’ll first present a list of the companies that are yielding more than 2% and then the entire list. Getting an idea from @UnuUnc on Twitter – I have also created a Google Docs Spreadsheet of this data that you can access here, and that has the list of all of the 200 shares.

Initially, I thought I would stop at 200, but I have gotten really curious about this information now, and would like to cover all the companies in the BSE 500 Index. 

That means a little over 300 companies more. That’s because in comparing the BSE 200 and BSE 500 indices – I see that the first 126 companies are the same, but thereafter the composition changes somewhat so I will also include those companies that haven’t been included in this table (and are in the top 200 list of BSE 500).

But all that is for a later time, for now, here is the list of all stocks yielding more than 2%.

A word about these companies – I see a lot of companies over the 3% yield in this list than there were in the 100 list, and I also see a lot of banks here as well. The market has fallen a bit since I created my last list so to some extent that may be the cause for the +3% yields.

Now, here is the list with the highest dividend yields in the BSE 200 index.

Scrip Code	Company	Close Price	Dividend Paid	Div Yield	Notes
523598	SHIPPING COR	83.2	5.5	6.61%
532388	INDIAN OVERS	92.65	5	5.40%
532505	UCO BANK	65.55	3	4.58%
532401	VIJAYA BANK	54.65	2.5	4.57%
532418	ANDHRA BANK	123.85	5.5	4.44%
512579	GUJARA NRE C	24.15	1	4.14%
532480	ALLAHABAD BK	157.75	6	3.80%
532733	SUN TVNET	232.2	8.75	3.77%
500315	ORIENTAL BK	292.35	10.4	3.56%
532276	SYNDICATE	104	3.7	3.56%
532814	INDIAN BANK	212.8	7.5	3.52%
500116	IDBI BANK L	102.75	3.5	3.41%
500302	PIRAMA HEALT	356.2	12	3.37%
500106	IFCI LTD	30.7	1	3.26%
532544	INDIABULLS	157.15	5	3.18%
513683	NEYVELI LIG.	78.45	2.3	2.93%
532121	DENA BANK	77.85	2.2	2.83%
532779	TORNT POWER	223.3	5.5	2.46%
500800	TATAGLOBAL	85.55	2	2.34%
506395	COROM INTER	304.25	7	2.30%
532524	PTC INDIA	68.1	1.5	2.20%
532654	MCLEOD RUSSE	237.7	5	2.10%
530005	INDIA CEMENT	72.6	1.5	2.07%
500111	RELIANCE CAP	315.2	6.5	2.06%
532391	OPTO CIRCUIT	221.05	4.5	2.04%
500411	THERMAX LMTD	441.35	9	2.04%
500085	CHAMBAL FERT	93.45	1.9	2.03%
500477	ASHOK LEYLND	26.1	1.00	3.79%

Update: Added Ashok Leyland per comment.

Here is the complete list.

Scrip Code	Company	Close Price	Dividend Paid	Div Yield	Notes
532939	RPOWER	76.8	0	0.00%
532779	TORNT POWER	223.3	5.5	2.46%
500219	JAIN IRRI SY	152.6	1	0.66%
532522	PETRONET LNG	159.3	2	1.26%
500111	RELIANCE CAP	315.2	6.5	2.06%
500315	ORIENTAL BK	292.35	10.4	3.56%
500850	INDIAN HOTEL	71.15	1	1.41%
507878	UNITECH LTD	26.2	0.1	0.38%
500493	BHARAT FORGE	268	3.5	1.31%
500302	PIRAMA HEALT	356.2	12	3.37%
500002	ABB LTD	692.5	2	0.29%
500116	IDBI BANK L	102.75	3.5	3.41%
500870	CASTROL INDI	475.7	0	0.00%
531642	MARICO LTD	143.4	0	0.00%
500477	ASHOK LEYLND	26.1	1	3.79%	See Ashok’s comment below
500800	TATAGLOBAL	85.55	2	2.34%
532544	INDIABULLS	157.15	5	3.18%
532480	ALLAHABAD BK	157.75	6	3.80%
513377	M M T C LTD.	655.95	0.25	0.04%
532839	DISH TV	76.9	0	0.00%
532702	GUJ PETRONET	104.9	1	0.95%
532466	ORACLE FIN	1894.6	0	0.00%
532754	GMR INFRASTR	27	0	0.00%
532418	ANDHRA BANK	123.85	5.5	4.44%
532391	OPTO CIRCUIT	221.05	4.5	2.04%
532720	M&M FINANSER	659.6	10	1.52%
508869	APOLLO HOS E	518.6	3.75	0.72%
500049	BHARAT ELECT	1532.7	21.6	1.41%
532978	BAJAJ FINSE	524.95	1.25	0.24%
506395	COROM INTER	304.25	7	2.30%
532514	INDRA GAS	425.45	5	1.18%
532667	SUZLONENERGY	36.55	0	0.00%
533107	PIPAVAVDOC	78.7	0	0.00%
500620	GREAT EASTE	250.3	4.5	1.80%
531807	ING VYSYA BK	298.55	3	1.00%
532873	HOUSING DEV	98	0	0.00%
500575	VOLTAS LTD	111.4	2	1.80%
526299	MPHASIS LTD	342.05	4	1.17%
500055	BHUSH STEEL	333.15	3	0.90%
502742	SINTEX INDUS	127.45	0.65	0.51%
500271	MAX INDIA L.	188.2	0	0.00%
531213	MANAP FIN	52.4	0.6	1.15%
517334	MOTH SUMI SY	176.9	2.75	1.55%
523574	PANTAL RETAI	197.5	0.9	0.46%
532234	NAT ALUM CO	61.65	0.5	0.81%
532478	UNITED BREW	374.5	0	0.00%
532523	BIOCON LTD	336.95	3	0.89%
533155	JUBL FOOD	793.45	0	0.00%
532627	JPPOWER	34.1	0	0.00%
533148	JSW ENERGY	54.5	1	1.83%
532670	RENUKA SUGAR	55.2	1	1.81%
532832	INDBUL REAL	73.1	0.3	0.41%
532755	TECH MAH	573.6	4	0.70%
500106	IFCI LTD	30.7	1	3.26%
500411	THERMAX LMTD	441.35	9	2.04%
532276	SYNDICATE	104	3.7	3.56%
526881	FINANC TECHN	812.3	8	0.98%
500840	EIH LIMITED	88.15	0.9	1.02%
532388	INDIAN OVERS	92.65	5	5.40%
520077	AMTEK AUTO L	127	1	0.79%
532678	BOMBAY RAYON	275.2	1.5	0.55%
532733	SUN TVNET	232.2	8.75	3.77%
532814	INDIAN BANK	212.8	7.5	3.52%
524804	AUROBINDO PH	124.25	1	0.80%
511389	VIDEOCON IND	168	1	0.60%
500085	CHAMBAL FERT	93.45	1.9	2.03%
500084	CESC LTD	276.65	4	1.45%
532524	PTC INDIA	68.1	1.5	2.20%
500040	CENTURY TEXT	305.8	5.5	1.80%
500378	JINDAL SAW	136.1	1	0.73%
500290	M.R.F LTD	6590.4	47	0.71%
530005	INDIA CEMENT	72.6	1.5	2.07%
500877	APOLLO TYRE.	55.3	0.5	0.90%
532178	ENGINER IN	247.05	4	1.62%
500134	ESSAR OIL LT	80.55	0	0.00%
500109	MANGALORE RE	62.15	1.2	1.93%
532947	IRB INFRA	163.25	1.5	0.92%
522275	AREVA	217.9	1.8	0.83%
523598	SHIPPING COR	83.2	5.5	6.61%
500164	GODREJ INDUS	194.6	1.75	0.90%
532636	IND INFOLINE	69.75	0	0.00%
532505	UCO BANK	65.55	3	4.58%
532654	MCLEOD RUSSE	237.7	5	2.10%
517354	HAVELLSINDIA	363.1	2.5	0.69%
500483	TATA COMM	186.2	2	1.07%
532885	CENTRAL BK	102.4	1.5	1.46%
513683	NEYVELI LIG.	78.45	2.3	2.93%
500294	NCC	60.3	1	1.66%
532696	EDUCOMP SOLN	238.4	0.6	0.25%
532309	ALSTOM PROJE	519.45	10	1.93%
532121	DENA BANK	77.85	2.2	2.83%
532693	PUNJ LLOYD	54	0.15	0.28%
532401	VIJAYA BANK	54.65	2.5	4.57%
532778	LANCO INFRA	15.75	0	0.00%
500185	HINDUS CONST	28.7	0.4	1.39%
532708	GVK POWERINF	15.8	0	0.00%
500305	JSW ISPAT	13.04	0	0.00%
513599	HIND.COPPER	226.9	0.5	0.22%
530773	IVRCL LTD	35.15	0.6	1.71%
500186	HIND.OIL EXP	108	0.5	0.46%
532517	PATNI COMPUT	288.85	0	0.00%
523204	ABAN OFFSHO	351.4	3.6	1.02%
512579	GUJARA NRE C	24.15	1	4.14%
512237	JAI CORP LIM	78.95	0.5	0.63%