The mutual fund (MF) gross inflows through the systematic investment plan (SIP) route topped the Rs 20,000 crore mark for the first time in a calendar month as investors opened a record 6.4 million SIP accounts despite a spike in market volatility. The number of accounts opened last month was almost 50 per cent higher than the registrations seen in March. "India's MF industry has reached yet another milestone with the SIP book crossing above Rs 20,000 crore in April 2024.
The post-Covid pandemic boom in corporate revenues appeared to have faded away in 2023-24. Yet, companies have reported a sharp recovery in their profits in FY24, driven by high margins. Their combined net sales, including gross interest income for lenders, rose by a modest 4.8 per cent year-on-year (Y-o-Y) in FY24.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
While Flipkart and Amazon go on a fund-raising spree, the real battle will begin once big industrial houses such as the Tatas, Reliance and the Aditya Birla group join the race.
Promoter shareholders -- Vodafone Group and Aditya Birla Group -- have reiterated to the board that they intend to contribute up to Rs 11,000 crore and up to Rs 7,250 crore, respectively, amounting to a total of Rs 18,250 crore, as part of the Rs 25,000-crore rights issue.
Aditya Birla group's Idea Cellular has signed a deal to acquire 40.8 per cent stake in Spice Communications for Rs 2,716 crore (Rs 27.16 billion).
Hindalco Industries, the metals flagship of the Aditya Birla Group, on Friday said it has finalised arrangement for acquiring alumina refinery and bauxite mines in Brazil from its wholly-owned subsidiary Novelis as part of corporate reorganisation plan.
A major top management level churn is on in the country's financial services space, with the Aditya Birla group emerging among the biggest beneficiaries of this shake-out as it has attracted a large number of executives from other companies.
You could exit on completion of your set target or on spurt in the stock price.
'Her story, her life, her aspirations and struggles...' 'Indian weddings are not just about fuschia, pink and dancing. They have many nuances.'
In the wake of the tussle between the Birlas and Rajendra S Lodha over the will of Late Priyamvada Birla, chartered accountants firm Lodha & Company said it was not seeking re-appointment as auditors of Indo Gulf Fertilisers Ltd.
After making handsome profits on Biba and AND, the homegrown retailer plans a string of similar investments.
Bankers said the outlook of M&As in India in 2024, especially in the second half after the Lok Sabha election, seems relatively better.
To cater to the antiviral fabrics and antimicrobial segment, almost all the Indian big textiles brands, including Reliance, Arvind, Aditya Birla, Donear Group, Raymond, and Siyaram have entered the market. Companies started their journey with reusable masks and PPE kits, and today, they are offering a range of PPE clothing along with fashion and casualwear.
After their merger Vodafone Group CEO, Vittorio Colao says India is not a Jio market alone. Aditya Birla Group CEO, Kumar Mangalam Birla says Vodafone is dominant in metro cities, while Idea is a big player in urban, semi-urban markets.
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Reliance, Birla Group, Airtel eye small finance banks.
After nearly four years of underwhelming performances in equity schemes, Aditya Birla Sun Life Mutual Fund (ABSL MF) is experiencing a revival. During the first quarter of the 2023-24 financial year (Q1FY24), the fund house arrested its declining market share, bolstered by stronger equity fund results and subsequent ratings upgrades. Mahesh Patil, the chief investment officer, attributes this resurgence to changes in the fund management team and adjustments to investment strategies.
Overseas operations already account for nearly 30 per cent of the group's revenue now and the Novelis acquisition would go a long way in fulfilling group chairman Kumar Mangalam Birla's ambition
The notification allows farmers to directly sell fresh produce to consumers, rather than through agriculture produce marketing committees.
Micky Jagtiani, owner of Landmark, the unlisted Dubai-based retail chain, has entered the list of 10 richest Indians compiled by Bloomberg.
The big boys of India's traditional retail have finally come together to fight the onslaught of their online counterparts.
S Ramadorai, Tata Consultancy Services CEO, been selected the Business India Businessman of the Year 2004.
The average age of the people has come down. Finally, we have gone in for inorganic growth rather than organic in recent years.
CEOs point fingers at rural job guarantee and related govt welfare schemes; say mechanisation an increasingly viable option.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
Competition from kirana stores, low margins and property and supply chain issues delay break-even.
The BSE index closed down 0.18 percent at 28,659.17, its lowest closing level since Feb. 11.
The Aditya Birla group's wireless telephony firm Idea Cellular has agreed to buy Spice Communications in a three-stage deal in which minority shareholders of Spice would be given an option either to swap their shares for the Birla group firm or sell them in an open offer.
After Bandhan MF's US Treasury Bond 0-1 year Fund of Fund (FoF), Aditya Birla Sun Life (ABSL) MF has come out with US Treasury 1-3 Year Bond ETFs FoF and 3-10 Year Bond ETFs FoF. US bonds, which generally offer low yields, have turned attractive post the 525-basis point hike in US interest rates. According to Bloomberg data, the 1-year and 2-year US treasury yields now stand at 5.4 per cent and 5.1 per cent, respectively. Although the yields remain lower than what Indian government bonds offer, the differential has come down steeply.
The recommendation, if implemented, could severely dent coal miners' bottom line.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
The RBI is expected to issue only a few bank licences after completing due diligence.
To say that Nirmalya Kumar has enjoyed a groundbreaking career is to say the very least.
A large part of the current slowdown can be attributed to the execution bottlenecks and falling investor sentiment in the country, says Ajit Ranade, Chief Economist, Aditya Birla Group.
Nikunj Saraf, Vice President Choice Wealth, answers your queries.
It is not clear whether the drop in offers is a fallout of demonetisation.
Fund redemption and rising import bills would continue to put pressure on the Indian currency.
Chartered accountancy firm Lodha & Co has resigned as statutory auditor for Grasim Industries Ltd, a Aditya Birla group company, and city-based G P Kapadia & Co has been appointed as sole statutory auditors for the firm.
