Silver Yamini Dirham c

Ghaznavid Empire: Sultan Mahmud Ghaznavi (سلطان محمود غزنوی), 3.27 grams, 20 mm, Silver Yamini Dirham citing Abbasid caliph al-Qadir (القادر باللہ).
Sultan Mahmud Ghaznavi, was one of the most prominent ruler during the medieval Islamic period. He reigned from 997 to 1030 CE and is best known for his military conquests and the establishment of the Ghaznavid Empire, centered in what is now Afghanistan and parts of Pakistan.
Born in 971 CE in Ghazni, Mahmud was the son of Subuktigin, the founder of the Ghaznavid dynasty. His reign was characterized by a series of military campaigns, primarily directed towards India. Mahmud's expeditions into India aimed to acquire wealth and expand Islamic influence. His most famous campaign was the conquest of the Somnath Temple in Gujarat in 1026 CE, which was renowned for its immense wealth.
Despite his military pursuits, Mahmud also played a role in promoting scholarship and culture. His court was a hub of intellectual activity, where poets, scholars, and historians thrived under his patronage.
After his death in 1030, the Ghaznavid Empire began to decline, facing internal and external challenges that eventually led to its disintegration. Mahmud of Ghazni remains a significant figure in medieval Islamic history, leaving a lasting impact on the history and culture of the Indian subcontinent.

The discovery of the ancient Statue of Antinous found in Delphi, Greece during an excavation in 1894. (Colorized)

 

Q. “The return received in mutual fund is rightly called interest. If true, how true.”

Mutual fund returns are not called ‘interest’.

The word ‘interest’ is used only when money is being lent/borrowed.

Example: you borrow Rs 1 lakh from the bank at 10% interest, for 1 year.

So you have to pay back a sum of Rs 1 lakh + 10% interest after 1 year.

Similarly, when you invest money in an FD, you are actually giving a loan to the bank. This is why the bank pays you an interest.

In mutual funds, you are giving your money to a group of experts (fund manager + team) to invest on your behalf.

You are buying an asset, not lending your money.

Similar to buying a house—investing in it gives you returns but not interest.

PE ratio

PE ratio—also known as P/E ratio, P to E ratio, or simply PE.

PE ratio has become one of the most talked about measures of valuation—if a stock is fairly valued, undervalued, or overvalued.

This week, we will learn more about this ratio, what it tells us, and what it cannot tell us.

First, how is it calculated?

Price of one stock divided by the earnings-per-share of that company.

PE ratio = Current share price / earnings-per-share.

Earnings-per-share = net profit of a company / total shares.