Experts say the impact on the schemes' NAVs may vary in the coming days, depending upon how fund houses treat the developments on VIL and whether there are any further rating downgrades or credit events.
Coming down heavily on MF players who in recent past chose to use shareholder fund to buy out debt of bleeding invested companies, Sebi said MFs can't have standstill agreements with companies and will take action against fund houses for such deals.
As a New Year gift to mutual fund investors, market regulator Sebi on Monday exempted them from payment of entry fee on applications filed directly to the asset management companies (AMC).
Of course, not all AMCs use such marketing schemes; certain AMCs have told us that they would have preferred to keep an arm's length from these tactics, but their hand was forced by other AMCs. The bottom line is that investors/agents are regularly bombarded with rewards/incentives by AMCs and core factors like the fund's investment proposition and track record are conveniently pushed to the background.
We invited employers looking out for summer interns to post openings in their companies. Here we post the first batch of summer jobs that are up for grabs across the country.
State-run lenders will take a lead in creation of the bad bank, but the sick asset resolution platform needs the support of private banks and other lenders to be successful, State Bank of India managing director Swaminathan J said on Thursday. If all lenders come on board, the National Asset Reconstruction Company (NARC) announced in the budget will be able to aggregate 100 per cent of a sick company's outstanding loans, which shall ultimately lead to better resolution of the asset quality stress for all. The government is yet to announce the specific contours of the NARC or the bad bank and has also only said that it is willing to provide some sovereign guarantee to help the platform.
Sensex rally was driven by Bajaj FinServ, Reliance Industries, Bajaj Finance, ICICI Bank, HDFC and Axis Bank. NSE Nifty climbed 326.50 points to end at 15,245.60.
Debt-ridden Reliance Capital ready to cede control in home finance - Blackstone, Carlyle, Brookfield, and Piramal group are in talks to buy a large stake in Reliance Home Finance.
The relentless rally in small- and mid-cap stocks continues as large-caps show signs of fatigue. In July, the Nifty Smallcap 100 rose 8.1 per cent, extending its year-to-date (YTD) gains to 48.5 per cent, while the Nifty Midcap 100 added 3.1 per cent, taking its YTD rise to 33.5 per cent. On the other hand, the Nifty50 remained unchanged for the month, with YTD gains of 12.7 per cent.
The number is much less than what the US president has been claiming. In a recent video, Trump said, "7 million (70 lakh)" people will be there on the roadshow route. Notably, the total population of Ahmedabad is estimated to be around 70 to 80 lakh.
Indian asset management companies (AMCs) are likely to see a hefty spike in their valuations, after the last week's 5 per cent equity stake sale by Reliance Mutual Fund to US-based hedge fund Eton Park.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Increase in surcharge will adversely impact fund managers planning to shift to India. As a matter of fact several fund professionals based in India could also relocate to other jurisdictions, resulting in a brain drain.
Ajit Mishra, vice president, research, Religare Broking, answers your queries.
After a month long gap, the primary market is heading for a busy time, with five firms including Paytm parent One97 Communications and policybazaar parent PB Fintech have lined up their IPOs in the first half of November to raise over Rs 27,000 crore collectively. The other three firms whose initial share-sales are set to open are Sapphire Foods India, which operates KFC and Pizza Hut outlets, decorative aesthetics supplier SJS Enterprises and microcrystalline cellulose manufacturer Sigachi Industries. The IPOs of FSN E-Commerce Ventures Ltd, which runs online marketplace for beauty and wellness products Nykaa, and Fino Payments Bank are currently open for public subscription.
All banks are eligible for privatisation. A committee of secretaries will decide which banks will be privatised, says Financial Services Secretary Debasish Panda.
One can short-sell an ETF or buy on margin or even purchase one unit, which is not possible with index-funds/conventional MFs.
The Reserve Bank's rate-setting panel, Monetary Policy Committee (MPC), began its three-day deliberations on Wednesday amid expectations of a status quo on benchmark rate mainly on account of uncertainty over the impact of the second wave of COVID-19 pandemic. Moreover, the fears of firming inflation may also refrain the MPC from tinkering with the interest rate in its bi-monthly monetary policy outcome to be announced on Friday. The RBI had kept key interest rates unchanged at the last MPC meeting held in April.
With the launch of a pilot project to alert commuters about the traffic situation, Ahmedabad became the first Indian city to get an Intelligent Traffic System (ITS).
The growth will happen in the asset management market, as the Indian population is richer and economy would continue to grow.
Additional Chief Secretary Rajiv Gupta, who has been appointed to oversee works related to COVID-19 in Ahmedabad said massive screening was conducted to ensure that the viral infection cannot get transmitted from the "super spreaders".
Sahara group has been engaged in a long-running regulatory and legal battle with Sebi.
Asset managers are betting big on ETFs these days.
Government auditor CAG has flagged "undue favour" to Wipro Ltd by UIDAI.
Affordable pricing, a variety of themes, and the ease of transacting are among key reasons that have made smallcases a hit among young investors.
Hectic fundraising through initial public offerings (IPOs) is expected in October-November, with at least 30 companies are looking to collectively raise over Rs 45,000 crore through initial share-sales, merchant banking sources said. Of the total fundraising, a large chunk would be garnered by technology-driven companies. The successful IPO of food delivery company Zomato, which was overwhelmingly subscribed by over 38 times, encouraged new-age tech companies to come out with their primary share-sales.
'Companies with a strong business case and healthy balance-sheet should sail through and emerge more robust in the future.'
Ajit Mishra, Vice President, Research, Religare Broking, answers readers' queries on stocks they own or want to buy.
HDFC MF has had a history of stock options and gave additional ESOPs to key staff a few months ago
UTI AMC on Friday dismissed reports that its former chief M Damodaran had awarded 'undue favour' to some executives, saying it has initiated a new performance-based compensation package in line with the recommendations of an HR consultant.
Investing in the US market provides Indian investors a hedge against the rupee's long-term tendency to depreciate against the dollar.
The BSE SmallCap index gained 106 per cent in the one year ended May 12, 2021.
While the market may remain volatile this year, analysts expect equities to deliver positive returns by outperforming inflation and government bonds, supported by the fiscal stimulus in the US.
'In the business of money, where you are regulated, the liability lies on the head of the acquirer.' 'It is not a good thing when you cannot spot the risks.'
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
The self-balancing concept bike left everybody awestruck at Auto Expo 2018.
With interest rates showing signs of going up, long-term floating rate debt mutual funds are catching the fancy of risk-averse investors as it promises better return than even bank fixed deposits, analysts said in New Delhi.
The number of equity schemes rose to 562 from 519 two years ago. Equity NFOs, in fact, have mopped up more than Rs 16,000 crore since 2018 - 2.7 times the Rs 5,948 crore collected in the preceding three calendar years.
Analysts attribute this withdrawal trend to the nervousness ahead of US presidential elections and the fact that the markets raced ahead even as the economic recovery remained fragile back home.
