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IBRD:
International Bank for Reconstruction and Development, also known as the World Bank. An agency of the United Nations, it was established in 1945 with object of financing postwar reconstruction and help raise the standard of living of the developing countries. It gives loans to governments and guarantees outside loans. Its funds are raised from contributions of member countries and bonds issued in the money markets. In sanctioning loans the bank examines the financial health of the recipient country, and may insist on change in the economic policy pursued by its government, the long-term objective being making the recipient country economically developed and loan-independent.
ICICI:
Industrial Credit and Investment Corporation of India.
IDBI:
Industrial Development Bank of India.
IFC:
See INTERNATIONAL FINANCE CORPORATION.
IFCI:
Industrial Finance Corporation of India
IFCI:
Industrial Finance Corporation of India.
IL:
Industrial Licence.
IMBALANCE OF Orders:
Too many brokers trying to buy or sell the same share, without opposite matching orders. The situation arises in the event of a takeover, adverse government regulation, or some dramatic event affecting the fortunes of a particular company. The jobber may in such an event suspend trading until enough matching orders are recieved.
IMF:
See INTERNATIONAL MONETARY FUND
Illiquid Investments:
Those shares, debentures, and government bonds which cannot be readily converted into cash. These are not regularly traded, and remain inactive most of the time, so that the investor may not find a ready buyer, or if he does find one, has to sell at a disadvantage. Other investments in this class are realestate, art objects, antiques, and other COLLECTIBLES.
Immediate Payment Annuity:
A single-payment annuity which starts paying, for a fixed period or for life, as contracted, right away. Usually such payments are on a monthly basis. LIC's 'Jeevan Akshay' is such an annuity.
Immediate-or-Cancel Order:
An order to buy or sell, wholly or partly, as soon as bidding on the floor starts. The part of the order that is not executed is cancelled. Such instructions usually accompany large orders.
In-and-Out Trader:
One who buys and sells the same share in the course of the trading day, hoping to profit from sharp price movements. he keeps no overnight position. Also called DAY TRADER.
Inactive Assets:
An unproductive asset, as a power generator as a standby in a state where there is no power shortage, or a piece of real estate when the company will not be in a position to expand or diversify for a long time.
Inactive Shares:
Shares which are seldom bought and sold in the stock exchange, although they are listed. A share which is transacted less than four times a year may be called inactive or dead. It is quite difficult to find a buyer or a seller for such shares. The SPREAD between buying and selling prices can be large.
Incestuous Share Dealing:
Buying and selling of shares in companies belonging to the same group for some financial advantage. usually tax gain.
Income Distribution:
The payment of income to unitholders by a Unit Trust in proportion to their holdings. The income distrinuted is less service charges.
Income Distribution:
The payment of income to unitholders by a Unit Trust in proportion to their holdings. The income distrinuted is less servicecharges.
Income Fund:
Mutal fund for investors who want income, rather than growth. Investments are usually in debentures, bonds, and high dividend shares.
Income Shares:
Distiguished from growth shares, these have usually a low P/E, and a low price. Yet these yield fairly good dividends, sometimes equalling or excelling the rate of return from fixed deposits, etc. The companies follow a policy of high payouts(See PAYOUT RATIO), and consequently have low reserves for growth. Leasing company shares are foremost among these, for some yield dividends to the extent of 20% and above. Their prices move within a narrow range, and except before bonus issues tend to remain low.
Income Tax Rebate:
The various opportunities for gaining rebates are now curtailed. Under section 80L interest and dividend income up to Rs. 7,000 is exempted from income. Under Section 80 investments in approved schemes like the NSS, NSC, Public Provident Fund, LIC Schemes, etc. will qualify for a 20% rebate on the gross tax up to a savings limit of Rs 60,000.Sections 80CC, 80CCA, and 80CCB have been abolished. Equity-linked savings schemes up to an investment of Rs 10,000 are included in the overall limit of Rs 60,000.
Index:
A measurement of the trend of share prices. It is not just an average of share prices, but weighted to reflect the number of shares outstanding for an individual scrip. Thus, a 25% price fluctuation in a scrip with a small shareholding may have a much less impact on the market than a 3% fluctuation in a widely held scrip. The index thus gives an idea of the value change in share prices rather than just price change. The most widely known share price indices are the Dow Jones Industrial Average and Standard & Poor's 500 in New York, the Financial Times Stock Exchange 100 Index or FT-SE 100(called Footsie) in London, and the Economic Times, Financial Express, Business Standard, and Bombay Stock Exchange indices in India. Other important indices are Nikkel (Tokyo), Hang Seng(Hong Kong),Dax 30 (Frankfurt), and CAC General Index (Paris). See MARKET INDICES
Index:
A measurement of the trend of share prices. It is not just an average of share prices, but weighted to reflect the number of shares outstanding for an individual scrip. Thus, a 25% price fluctuation in a scrip with a small shareholding may have a much less impact on the market than a 3% fluctuation in a widely held scrip. The index thus gives an idea of the value change in share prices rather than just price change. The most widely known share price indices are the Dow Jones Industrial Average and Standard & Poor's 500 in New York, the Financial Times Stock Exchange 100 Index or FT-SE 100(called Footsie) in London, and the Economic Times, Financial Express, Business Standard, and Bombay Stock Exchange indices in India. Other important indices are Nikkel (Tokyo), Hang Seng(Hong Kong),Dax 30 (Frankfurt), and CAC General Index (Paris). See MARKET INDICES.
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