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MF News
Market News
Sebi allows mutual funds to invest in repo transactions on commercial papers, certificate of deposits
In repo transactions, also known as a repo or sale repurchase agreement, securities are sold with the seller agreeing to buy them back at a later date. The instrument is used for raising short-term capital.
2023-06-09T06:51:19+05:30
Samco Mutual Fund launches SAMCO Active Momentum Fund
The fund manager for SAMCO Active Momentum Fund is Paras Matalia, a seasoned investment professional with a deep understanding of momentum-based strategies. With his expertise and experience, Matalia will oversee the fund's investment decisions and work towards maximizing returns for investors.
2023-06-08T14:40:50+05:30
Mutual fund managers decode RBI policy for investors
“The Reserve Bank of India maintained status quo on Policy rates as expected and confirmed the expectations of a long pause with a slightly hawkish undertone as it retained the Monetary Policy stance at “Withdrawal of accommodation to ensure that Inflation progressively aligns with the target, while supporting growth,†says Puneet Pal, Head-Fixed Income, PGIM India Mutual Fund.
2023-06-08T14:28:55+05:30
​RBI pauses: your best mutual fund options
2023-06-08T13:54:47+05:30
RBI holds repo rate again: what should mutual fund investors do?
Most money market pundits expected the RBI to hold rates today as the inflationary and growth scenarios were positive. What does it mean to mutual fund investors, especially debt fund investors?
2023-06-08T10:38:52+05:30
Time to stagger investments in Nifty 50 as index trends above its fair value
Since its lows of March 23, 2021, the Nifty PE has risen from 18.49 and now stands at 21.70. In the same period, its price to book value rose sharply from 2.34 to 4.9 and dividend yield fell from 2 to 1.45. During this period, the Nifty returned 125.8%
2023-06-08T06:05:34+05:30
D-Street indices hit new 2023 highs; mid- & small-caps scale fresh peaks
The Sensex closed at 63,142.96, up 350.08 points, or 0.56%, from Tuesday's close. The Nifty advanced 127.40 points, or 0.68%, to settle at 18,726.40. Both indices are now within 1% of their respective all-time highs recorded on December 1 last year.
2023-06-08T05:34:36+05:30
Am I investing in the right mutual funds?
If you have any mutual fund queries, message us on ET Mutual Funds on Facebook. We will get it answered by our panel of experts.
2023-06-07T13:56:01+05:30
Edelweiss Multi Asset Allocation Fund: should you invest in NFO?
should you invest in NFO?
2023-06-07T10:30:38+05:30
Are Systematic Withdrawal Plans tax efficient?
Investors generally use the growth option of an equity-oriented or hybrid scheme to start an SWP. Financial planners advise investors to avoid narrow thematic and sectoral funds.
2023-06-07T08:39:22+05:30
IT index records worst fall in 2 months
EPAM cut its sales growth guidance for 2023 by an unexpected 500 basis points citing a slowdown in discretionary spending. The company now sees its revenues lower by 2% on a year-on-year basis, compared to its earlier guidance of a 3% growth.
2023-06-07T05:36:55+05:30
​Best large cap mutual funds to create wealth
​Large cap mutual funds are ideal for conservative investors
2023-06-06T14:03:11+05:30
Bajaj Finserv Mutual Fund launched
Sanjiv Bajaj, Chairman & Managing Director, Bajaj Finserv, said, “We are committed to being a full-stack financial solutions provider to meet India’s growing needs and building deeper, long-term relationships with customers who are already invested in us. The launch of asset management helps diversify our retail franchise and leverage Bajaj Finserv companies’ combined strength in financial services across a much larger customer base.â€
2023-06-06T12:32:18+05:30
ICICI Prudential Bluechip Fund completes 15 years
Anish Tawakley, fund manager of the Scheme and Deputy CIO-Equity and Head of Research, ICICI Prudential Asset Management Company, notes, "Over the years, picking high conviction stocks with buy and hold approach in large-cap companies with proven track record, quality management, good growth potential has worked well for the scheme."
2023-06-06T11:23:48+05:30
NFO Watch: Seven new mutual fund offers open this week
Two index funds, a multi asset allocation fund, focused fund, thematic fund, an ETF and ELSS fund are currently open for subscription in the market.
2023-06-06T10:53:21+05:30
Edelweiss Multi Asset Allocation Fund: smart way to enjoy LTCG tax?
The portfolio construction strategy of the scheme will be 45-55% in fixed income, 35-40% in equity arbitrage, and 10-15% in gold and silver arbitrage. The portfolio helps the scheme to qualify for long-term capital gains tax.
2023-06-06T10:40:08+05:30
Rate hikes are reasonably off the table for the moment: R Sivakumar
The RBI certainly seems to be on a pause mode. And in fact, global central banks also, especially the US Federal Reserve, also seems to be indicating that they would pause soon.
2023-06-06T08:01:00+05:30
Edelweiss Mutual Fund launches Edelweiss Multi Asset Allocation Fund
The performance of the scheme will be benchmarked against Nifty 500 TRI (40%) + Nifty 5 year Benchmark G-Sec Index (50%) + Domestic Gold Prices (5%) + Domestic Silver Prices (5%). The scheme will be managed by Bhavesh Jain and Bharat Lahoti (Equity), Dhawal Dalal (Debt), Amit Vora (Overseas), and Ashish Sood (Commodities).
2023-06-05T13:18:35+05:30
​Best mutual funds to make ‘great’ returns in 2023
​Mutual fund investors are always looking for great returns
2023-06-05T11:39:39+05:30
Asset base of ESG-focussed funds drops by Rs 2,020 cr in FY23
Kaustubh Belapurkar, Director - Manager Research, Morningstar India, also believes that investors' interest in ESG funds will increase on growing awareness towards such funds in coming years.
2023-06-05T08:35:52+05:30
Gold up 8% in 5 months, silver has delivered close to 5%; how to use them to your advantage
Inflation has been tamed but is still above the comfort zone of the RBI. The Ukraine crisis remains unresolved. In the US, though the debt ceiling deal has averted a default catastrophe, analysts say a recession appears imminent. These factors are likely to keep gold and silver prices buoyant in the coming months.
2023-06-05T06:30:00+05:30
Canara Robeco Small Cap Fund: Fund review
We examine the key fundamentals of the fund, its portfolio and performance to help you make an informed investment decision.
2023-06-05T06:30:00+05:30
MPC meeting: RBI may hit rate pause button again this week
According to an ET poll with 16 respondents, the six-member rate-setting panel is seen maintaining the benchmark policy repo rate at 6.50% during the June 6-8 meeting, marking the second consecutive instance of it holding off on policy tightening. The respondents were unanimous in their expectation.
2023-06-05T05:56:27+05:30
​Neil Parikh, CEO of PPFAS Mutual, shares his future plans
​PPFAS Mutual Fund completed 10 years in May. In an interview Neil Parikh shared his plans for the fund house.
2023-06-02T14:58:37+05:30
Use current consolidation to accumulate gold: Quantum Mutual Fund
Gold prices started May on a high with the background of pain in the US banking sector leading to global risk aversion, the report said. The Fed policy at the start of the month where the Fed chair hinted at flexibility and a meeting-by-meeting approach was considered dovish by markets. This also supported the prices.
2023-06-02T11:58:59+05:30
Investors with a five-year horizon can expect decent returns from small caps: Sahil Shah of Edelweiss MF
"Smallcap valuations are attractive compared with larger peers. Smallcap Index is trading at a discount to largecap index. It was trading at a premium to the largecap index during the euphoria of 2007 and 2017. People who invested in smallcap stocks back then suffered losses or accrued sub-par returns. The current valuations of small-caps seem reasonable," says Sahil Shah of Edelweiss MF.
2023-06-02T09:49:47+05:30
Sensex at 100,000 does not look unimaginable, see it going beyond it: Nilesh Shah
​In about 20 years, these six states have reached where India was yesterday. Now, if all of us continue to work in similar fashion for next 20 years, these six states will create today's five India.
2023-06-02T08:00:00+05:30
Underperforming Nifty Next 50 offers a good entry point
Wealth managers believe the Nifty Next 50 represents the next rung of liquid securities after the Nifty 50 and recommend an allocation to this index for equity investors. The Nifty Next 50 trades at a one-year forward price-earnings ratio of 28, compared with its five-year average of 28.93, making valuations reasonable.
2023-06-02T07:56:48+05:30
Sebi gives more time for comments on proposal on mechanism for AMCs to detect market abuse
The markets regulator, in its consultation paper issued last month, proposed that AMCs should put in place robust surveillance systems and internal control procedures, to deter possible misconduct by employees or other entities which may have information relating to fund management or investments of mutual fund schemes.
2023-06-01T16:09:19+05:30
Sebi extends time to submit public comments on proposal on expenses charged to mutual fund investors
Sebi had placed a consultation paper on the review of the total expense ratio (TER) charged by AMCS to unitholders of fund schemes on May 18 and sought comments till June 1 on the proposal.
2023-06-01T16:03:09+05:30
Is it the right time to invest in Nippon India Small Cap Fund?
If you have any mutual fund queries, message us on ET Mutual Funds on Facebook. We will get it answered by our panel of experts.
2023-06-01T12:13:17+05:30
​Gold funds offer 16% in one year. Should you invest?
2023-06-01T11:27:57+05:30
RBI likely to hold interest rates, says Pankaj Pathak of Quantum Mutual Fund
This policy decision should not have any material impact on the bond market though there could be minor fluctuation in yields depending on policy stance and language.
2023-06-01T09:05:10+05:30
​These risky schemes can make you rich
​These schemes have high risk. But they also have potential to offer higher returns.
2023-05-31T14:08:06+05:30
4 sectors Taher Badshah is bullish on for near term
​So, one problem is in a way out of the way and alongside which we have also seen actually interest rates presumably going into a bit of a pause mode as far as we can understand and which is again a little better than our expectations because that was supposed to come about more in the second half of the year which basically means that PE multiple decline from year essentially is arrested and that problem at one level is out of the way.
2023-05-31T12:04:46+05:30
64% equity schemes underperformed their benchmarks in five years
Out of 167 equity schemes that have completed five years in the market, 107 schemes failed to beat their respective benchmarks. These 107 schemes were from across the categories such as contra fund, ELSS, flexi cap, focused fund, large & mid cap, large cap, mid cap, small cap, and value fund.
2023-05-31T11:13:07+05:30
Why should you add international funds to your portfolio?
Wealth managers recommend investors put some money in international funds to geographically diversify their equity portfolios, hedge currency risks, and gain exposure to companies in cutting-edge technology areas that are not available in India
2023-05-31T09:13:48+05:30
Follow ethical practices, be transparent, Sebi chief to MFs
The Sebi chief said mutual funds are an important vehicle to encourage investors to participate in the markets. Buch expressed confidence in the industry's potential and said its asset size could grow from the current ₹40 lakh crore to ₹100 lakh crore.
2023-05-31T05:49:18+05:30
Best mutual funds to invest for three years
Are you looking to invest for three years?
2023-05-30T14:10:27+05:30
15 small cap schemes offer over 40% returns in three years on lumpsum investments
A lumpsum investment made on May 24, 2020 of Rs 10,000 in these 15 small cap schemes would have grown between Rs 27,450 to Rs 43,833 in the three-year period.
2023-05-30T11:12:19+05:30
NFO Watch: 10 new mutual fund offers open this week
Four index funds, a fixed maturity plan, value fund, thematic fund, focused fund, an ETF, and ELSS fund are currently open for subscription in the market. Should you invest in these new fund offers to maximize the returns from your mutual fund portfolio?
2023-05-30T10:31:17+05:30
Mutual funds shy away from AT-1 bonds amid tighter rules
Data provided by CRISIL Market Intelligence and Analytics to ET showed that MF investments in AT-1 bonds crashed to ₹5,382 crore in April 2023, from ₹25,057 crore in January 2020.
2023-05-30T07:52:59+05:30
Sensex rises to 6-month high, briefly scales 63K
Benchmark indices rose to their highest level in nearly six months led by the financials, with the Sensex briefly surpassing the 63,000-mark before trimming some of its gains.
2023-05-30T05:42:07+05:30
‘Sebi fee review to make a big dent in MFs’ profits’
The Securities and Exchange Board of India (SEBI) may negatively impact India's mutual fund sector with its proposal to review total expense ratio (TER) regulations, according to brokerage Nuvama. The sector's net profitability could fall by up to 27% from listing asset managers' 2024-25 net operating profits due to changes potentially increasing annual fees to include items such as securities transaction tax (STT) and brokerage.
2023-05-29T22:00:34+05:30
​Best mutual funds for new investors ​
​New investors are confused about which mutual funds to start investing in to create wealth.​
2023-05-29T13:13:11+05:30
ITI Mutual Fund launches ITI Focused Equity Fund
ITI Focused Equity Fund will be benchmarked against Nifty 500 Total Return Index. The fund will be jointly managed by Dhimant Shah and Rohan Korde.
2023-05-29T11:11:05+05:30
Mirae Asset Mutual Fund launches Mirae Asset Silver ETF
Siddharth Srivastava, Head - ETF Product, Mirae Asset Mutual Fund said, “Silver is widely considered to be a relatively in times of economy turmoil and a good hedge against dollar, just like gold. In addition to these factors, silver price has found support from its growing use in industrial settings, which now accounts for roughly half of the silver annual demand. These factors make silver a very compelling asset to be included in an investor’s portfolio either from a long-term point of view or for tactical allocation based on various technical indicators.â€
2023-05-29T11:05:38+05:30
Our plan is to continue doing things the right way: Neil Parikh of PPFAS Mutual Fund
"Due to the recent changes in debt taxation, there could either be some change to our existing hybrid scheme or a new scheme offering may be considered given the changed environment. Our preference is not to launch too many schemes and clutter the offering," says Neil Parikh of PPFAS Mutual Fund.
2023-05-29T09:56:45+05:30
Franklin India Flexi Cap Fund: Fund review
The portfolio is well diversified yet retains large positions in its top bets. The fund endured a blip in performance between 2017-2020 but came back strong in 2021 and 2022. The shift in market’s preference towards value has helped the fund recover smartly.
2023-05-29T06:30:00+05:30
Sebi to ease compliance burden for passive funds
"By easing the compliance burden, Sebi aims to foster the growth of passive investments in the Indian mutual fund industry," Sebi whole-time member Ananta Barua said while speaking at the mutual fund summit organised by industry body Assocham in the national capital.
2023-05-27T08:43:47+05:30
Asia shares buoyed by Fed pause bets
Equities across the Asia-Pacific region soared to their highest point since mid-February after an overnight rally on Wall Street, with investors betting that the US Federal Reserve would not raise rates this coming week. The positive speculation was supported by falls in Australian and Japanese bond yields in line with those in US Treasury bonds, and the US dollar remained subdued during early Asian trading. MSCI’s broadest index of Asia-Pacific shares rose by 0.6%, boosted by a 1.66% jump in Japan’s Nikkei. However, traders’ fears over future rate hikes were not eliminated, with the odds still holding at one in four for a rate increase on 14 June.
2023-06-09T08:15:51+05:30
Big Movers on D-Street: What should investors do with Paytm, Inox Wind and Bajaj Finserv
Equity benchmarks, BSE Sensex and Nifty, ended in negative territory after RBI kept the interest rate unchanged. Paytm gained 6%, Nestle was up 4%, while Bajaj Finserv's shares fell nearly 1% on Thursday. Amol Athawale, VP-Technical Research Analyst at Kotak Securities has suggested 740-735 is the level to watch out for Key trades for Paytm while Inox Wind could rally towards 155-160. Bajaj Finserv still has a positive medium-term texture with a sacrosanct support zone of 20-day SMA or 1440 for trend following traders.
2023-06-09T08:14:59+05:30
​5 stocks that saw Aggressive New Long positions on Thursday​
2023-06-09T08:07:05+05:30
Inflation coming down should further aid rural consumption recovery: Varun Lohchab
​If you look at consumption, especially the discretionary stocks, valuations are more stretched out there. So, in that context, I think FMCG valuations is not a big risk but given still slightly elevated level of valuations, your returns may not be very high but I think the risk reward is looking good because both margins and volumes will see an uptick over the next two to three quarters
2023-06-09T08:00:00+05:30
I see massive credit growth happening especially for MSME in next 2-3 quarters: Shachindra Nath
​So, this is a very-very positive statement coming out of the RBI that the formal guidelines around FLDG would be published very soon.
2023-06-09T08:00:00+05:30
The S&P 500 is in a bull market. Here's what that means and how long the bull might run
The S&P 500 has officially entered a bull market, defined as a 20% or more rise from the most recent low. The new bull market began on October 13, 2022, but the stock market's rally is largely due to the US economy not falling into recession despite inflationary fears. The prevailing belief now is that the Federal Reserve will soon stop raising interest rates, but the persistent inflation could change that. Most of the gains for the S&P 500 this year have come from a small group of stocks, sparking concerns over its sustainability and the limited breadth of the rally.
2023-06-09T07:59:48+05:30
Behold Wall Street's new bull market, maybe
The S&P 500's 20% gain from its October 12 closing low shows the start of a new bull market, but there is no set definition or regulatory body that declares one, leading to varied opinions among market participants. While the most commonly accepted definition is a 20% rise from a low, it is open to interpretation. Further, some analysts require a time element to their bear market criteria, necessitating a low to remain intact for at least seven months, to remove the risk of a rapid reversal. Finally, various other viewpoints exist on what constitutes a bull or bear market, with no consensus reached yet.
2023-06-09T07:56:49+05:30
Gold faces weekly gain on potential pause in Fed rate hike
Gold prices recorded a slight dip on Friday, as bullion headed for its weekly gain on the assumption that the US Federal Reserve may pause rate hikes in its upcoming meeting. Spot gold retreated by 0.2% to $1,964.52 per ounce, recovering from Thursday’s 1% climb after data showed that US weekly jobless claims surged last week, adding to the belief that the Fed will halt its interest rate-hiking cycle. Meanwhile, the US consumer inflation report due on 13 June will provide further transparency into the economic state of the world's largest economy.
2023-06-09T07:53:12+05:30
Oil prices fall on demand fears, headed for second weekly loss
Oil prices fell as demand concerns outweighed the prospect of tighter supply from global producers and investors remained sceptical that the US and Iran could strike a nuclear deal. However, there is both upside and downside pressure on prices, amid fears over tighter supply and expectations of higher demand as the US enters driving season being offset by worries over further US interest rate hikes and a slow pickup in China's fuel demand. For the week, both benchmark prices were on track for about 1% losses and for a second week of losses.
2023-06-09T07:50:24+05:30
Dollar retreats on jump in US jobless claims; eyes on Fed
The dollar has fallen due to lower US Treasury yields, after a rise in weekly jobless claims suggested that interest rates were peaking. The focus now shifts to the upcoming week which will see the Federal Reserve, European Central Bank and Bank of Japan announce details of their interest rate decisions after their respective policy meetings. Experts say that, as the US slows down, the Fed may be tempted to pause its rate rises after completing five interest rate hikes. It is believed that the ECB will raise key interest rates by 25bps on 15 June and again in July before pausing for the remaining months of the year.
2023-06-09T07:41:14+05:30
Wall Street ends up amid record low volatility ahead of eventful week
US stocks closed higher on Thursday amid the likelihood of a stable economy. The CBOE Volatility index, described as Wall Street's fear gauge, reportedly dropped to its lowest level since the pandemic. Traders are expecting the US central bank's interest rate to stay at 5%-5.25% during its monetary policy meeting next week but see a rate hike in July. Computer expert Inc gained 2.49% after Wells Fargo gave the company an "overweight" rating, while Apple, Nvidia and Tesla rose between 1.55% and 4.58%. Meanwhile, GameStop fell 17.89% after the video-game retailer ousted its CEO and posted a losses above expectations.
2023-06-09T07:37:17+05:30
Stock Market Live Updates: SGX Nifty signals a positive start; Asian shares trade higher
2023-06-09T07:21:29+05:30
We are looking at extended rate pause for good part of FY-24: Lakshmi Iyer
So while the majority still believes that this should be the way forward, I think when the US starts probably pivoting or talking towards a rate cut in future, I think that is when, of course, inflation definitely is important, but it is going to be very difficult to envisage that the globe starts easing interest rates and India would probably wait for a more durable reduction
2023-06-09T07:11:00+05:30
Sandip Sabharwal's top bets from auto sector
I think the larger banks, ICICI, Axis etc. will continue to do well. So on the large cap space, even Bharti has consolidated for a long time. It could give decent double-digit returns from here. On the midcap side focus is again on some auto ancillaries, some consumer names, but those have seen some run-ups so we need to wait for them.
2023-06-09T07:11:00+05:30
Here's why Sudip Bandyopadhyay is bullish on the cement sector
I think Avenue Supermarts is a fantastic company. They have done very, very well. They have reshaped the Indian grocery retail in a big way. But always my challenge was that valuation was extremely rich and I think at that kind of valuation, the margin of error is very, very limited
2023-06-09T07:11:00+05:30
SGX Nifty up 35 points; here's what changed for market while you were sleeping
Option data suggests a broader trading range in between 18450 to 18900 zones while an immediate trading range in between 18550 to 18800 zones.
2023-06-09T07:01:00+05:30
Stocks in news: Kotak Mahindra Bank, L&T Finance, HAL, IEX, Blue Dart
Canada Pension Fund will likely sell partial stake in private lender Kotak Mahindra Bank through block deals today, according to reports.
2023-06-09T07:01:00+05:30
Stock Radar: Buy FACT for a target of Rs 355 in next 2-3 weeks, says Shivangi Sarda, Motilal Oswal
2023-06-09T07:00:00+05:30
Ikio Lighting IPO subscribed 66 times
The portion reserved for qualified institutional investors was subscribed 164 times, while the portion for non-institutional investors, or high-net-worth individuals, was subscribed 63 times. The retail portion was subscribed 14 times.
2023-06-09T05:55:40+05:30
S&P 500's tech-heavy top is a feature, not a bug
One reason investors buy the broad market is to diversify the risk of owning too few stocks. But with five of them dominating the S&P 500, some investors may be wondering if buying a broad market index is too dicey
2023-06-09T05:51:02+05:30
Banks, rate-sensitive sector shares decline
The Bank Nifty snapped its four-day winning streak to slip below 44,000. The gauge of top banking stocks settled at 43,995.25, down 277.05 points or 0.63% from the previous close.
2023-06-09T05:44:10+05:30
RBI Monetary Policy: An interest rate cut emerges on the horizon
The Reserve Bank of India has kept interest rates unchanged for the second consecutive meeting of the Monetary Policy Committee, with the repo rate remaining at 6.5%. Governor Shaktikanta Das suggested that the real interest rate meant a cut in policy rates was possible as the interest rate cycle may have peaked. The inflation target mandate, a monetary policy objective aimed at controlling the rate of price increases, emerged in 2016 after years of price increases led to negative real interest rates and spawned financial instability.
2023-06-09T00:42:52+05:30
Nod for first loss default guarantee to give a lending fillip to fintechs
All entities regulated by the central bank will have to ensure invocation of default guarantees within 120 days of a loan falling overdue, guidelines issued Thursday by the central bank mandated.
2023-06-09T00:38:00+05:30
RBI lets banks decide call borrowing limits
Prior to this, existing guidelines prescribed prudential limits for outstanding borrowing in call and notice money markets for scheduled commercial banks.
2023-06-09T00:27:39+05:30
Ahead of Market: 10 things that will decide D-Street action on Friday
Indian stocks closed lower as the RBI's monetary policy committee kept the repo rate at 6.50%, signalling that monetary conditions will remain tight, fearing inflation staying above the central bank's 4% target this year. The Nifty 50 index fell 0.49% at 18,634.55 and the Sensex 0.47% to 62,848.64. GameStop plummeted by 16.9% after ousting its CEO. Tech shares slipped due to expectations of further interest rate hikes and more losses were seen for shares of NIIT, BEML Land Assets, and Swastik Pipe.
2023-06-08T21:16:17+05:30
​Market Trading Guide: Tata Coffee, Paytm among 9 stock recommendations for Friday​
2023-06-08T20:18:23+05:30
RBI not planning to regulate social media influencers
Addressing media after the monetary policy announcement on Thursday wherein the central bank has for the second time in a row left the key policy rates unchanged, governor Shaktikanta Das said, "The RBI is not planning to issue any separate guidelines to regulate financial market influencers since the Sebi is already doing so".
2023-06-08T19:57:51+05:30
RBI to give banks more time to implement ECL-based provisioning
“We have received comments from stakeholders which are being evaluated. Some more work is to be done. At this point of time it will not be correct to infer that (June) 30th will be the date when it will be launched,†deputy governor M Rajeshwar Rao, who is in charge of regulations said.
2023-06-08T19:55:37+05:30
RBI revises OTS guidelines, brings UCBs under ambit
The Reserve Bank of India (RBI) has implemented new regulations governing one-time settlements (OTS), simplifying instructions across all regulated entities. Under the guidelines, the RBI calls for regulated entities to establish board-approved policies to set out the procedure, precedent and a graded framework for staff accountability. The authority responsible for settling must be at least one level higher than the body responsible for sanctioning the loan, and no approval will go to an official that was part of the loan sanctioning process.
2023-06-08T19:50:15+05:30
Sebi to digitise processing of investor service requests, complaints by RTAs
The Securities and Exchange Board of India (Sebi) will digitise processing of investors’ service requests and complaints in two phases to provide a mechanism for services and complaints through online mode by registrars to an issue and transfer agents (RTAs). The digitisation will provide benefits, including a database for service requests and complaints, according to Sebi. In the first phase, all RTAs servicing listed firms will have to display a basic website having detailed service request procedures and FAQs. In the second phase, a common website will be operated by qualified RTAs from July 1, 2022.
2023-06-08T19:47:07+05:30
Commodity Talk: Expect range-bound movement in oil prices amid demand slowdown: Pritam Patnaik of Axis Securities
Saudi Arabia's decision to cut oil production by 1 million barrels per day (bpd) in July, along with the other OPEC+ countries extending their cuts until the end of 2024, confirms a demand slowdown in the global market, according to Pritam Patnaik, head of commodities at Axis Securities. Although the Saudi production cut led to a rally in Brent and WTI benchmarks, traders seemed unconvinced, likely due to a slowing global economy. Patnaik expects demand to improve in H2 2021, with China's economy making a sharper recovery in the same period.
2023-06-08T19:45:49+05:30
S&P 500, Nasdaq open higher as jobless claims rise
The Dow Jones Industrial Average fell 8.04 points, or 0.02%, at the open to 33,656.98.
2023-06-08T19:12:18+05:30
HAL board to consider stock split on June 27
Hindustan Aeronautics Ltd (HAL) is considering a sub-division of equity shares to increase liquidity in the stock market, according to a filing. As of Thursday, HAL shares had hit a 52-week high after gaining 14% in the past five days. Analysts are optimistic that the strong order book and high revenue growth potential will help the stock rise further. Foreign institutional and mutual fund investors also seem to agree, as they have steadily increased their holdings for the past four quarters. Jatin Gohil, a technical and derivative research analyst at Reliance Securities, said the stock could move towards its channel breakout point of Rs 3,800 in the short to medium term.
2023-06-08T19:04:17+05:30
Canada Pension Fund to sell 1.6% stake in Kotak Mahindra Bank tomorrow: Report
The Fund will sell about 3.3 crore shares or a 1.6% stake in the bank at a price range of Rs 1,792-1,886. The lower end of the floor price is about a 5% discount.
2023-06-08T19:02:24+05:30
ETMarket Watch: Sensex snaps 4-day winning streak, Nifty ends lower post-RBI MPC Meet
2023-06-08T18:47:08+05:30
Adani Group raises over Rs 19,000 cr debt since Hindenburg report. Here's the breakdown
The Adani Group, in a presentation shared with the Reserve Bank of India (RBI), said that it had raised fresh debt of Rs 19,235 crore in the two months following the Hindenburg report.
2023-06-08T18:34:27+05:30
Targeting 1 million CBDC users by June end: RBI
While it has no specific date in mind for a full-fledged launch of the CBDC, the central bank will take a measured approach, it said. The RBI also has plans to make the united payments interface (UPI) platform fully interoperable with the CBDC.
2023-06-08T17:49:45+05:30
Stock market update: Mining stocks down as market falls
The 30-share BSE Sensex closed down 294.32 points at 62848.64
2023-06-08T17:22:51+05:30
6 healthcare stocks touch new 52-week highs, rally up to 30% in a month
On Thursday, the benchmark Sensex cracked 295 points to close at 62,849. Despite the overall market slide, the BSE healthcare index six stocks reached new highs in the past 52 weeks.
2023-06-08T17:22:31+05:30
​Gainers and Losers: NTPC, JSW Steel among 5 stocks in focus on Thursday​
While the Sensex closed at 62,849, down by 294 points or 0.47%, the broader Nifty50 settled at 18,635, down by 92 points or 0.49%. ​
2023-06-08T17:22:02+05:30
Breakout Stocks: How are Tata Tele, Paytm, and Alembic Pharma looking on charts for Friday
Stocks that were in focus included names like Tata Tele, which rose nearly 15%, Paytm or One 97 Communications, which closed with gains of over 6%, and Alembic Pharma which rose more than 5% with strong volumes on Thursday.
2023-06-08T17:20:03+05:30
L&T Finance approves final dividend of Rs 2 per share. Check details
L&T Finance Holdings has recommended a final dividend of Rs 2 per equity share for FY 2022-23 to its members, which if approved, will be credited within 30 days from the date of the annual general meeting. The record date for the dividend will be intimated later. Shares will trade ex-dividend the day or a day before the record date. The non-banking financial company reported a 47% rise in net profit for Q4 2020 when compared to the same period last year. The assets under management dropped to Rs 80,893 crore from Rs 88,341 crore in March 2020 because of a reduction in wholesale business.
2023-06-08T17:18:09+05:30
Sensex falls! These stocks fell 5% or more in Thursday's session
In the Nifty pack, 11 stocks closed in the green, while 39 stocks ended in the red.
2023-06-08T17:12:37+05:30
Gold declines Rs 420; silver jumps Rs 500
"Spot gold prices for the Delhi market traded at Rs 60,380/ per 10 gram, down by Rs 420 per 10 gram," Saumil Gandhi, Senior Analyst - Commodities at HDFC Securities, said.
2023-06-08T17:09:16+05:30
Tech View: Nifty charts hint at reversal on the downside. What should traders do on Friday
Nifty formed a downside reversal pattern on Thursday with immediate support levels at 18,580 and 18,530 zones, establishing a broader trading range of 18,450 to 18,900 zones, according to option data. Holding above 18,666 could spur Nifty’s up move towards 18,786 and 18,888 zones. Senior technical analyst Rupak De says Nifty maintaining 18600 supports the trend staying sideways. Technical research analyst Nagaraj Shetti expects a higher bottom of the sequence in the short term, finding cluster support around 18,560-18,450 levels. Meanwhile, Jatin Gedia says the crucial support zone is placed at 18,530 – 18,500 with today's high of 18,778 – 18,800 acting as an immediate hurdle.
2023-06-08T17:08:08+05:30
Share market update: Most active stocks in today's market in terms of volume
The NSE Nifty index closed 91.85 points down at 18634.55
2023-06-08T17:02:22+05:30
Stock market update: Stocks that hit 52-week lows on NSE in today's trade
Grasim Inds., Kotak Bank, Sun Pharma, Tech Mahindra and Apollo Hospital were among the top losers on NSE in today's trade.
2023-06-08T16:57:12+05:30
RBI policy: Investors to benefit from falling interest rate regime
The Reserve Bank of India (RBI) has kept interest rates on hold and maintained its stance to mitigate inflationary risks, at its latest monetary policy meeting. India's GDP growth forecast remained unchanged at 6.5%, with a marginal cut in CPI inflation from 5.2% to 5.1%. While some expected a change in the policy stance following the sharp fall in CPI inflation to 4.7% in April 2023, RBI MPC chose a wait-and-watch approach, conscious of global geopolitical uncertainty and potential El-Nino disruption to food inflation. The debt market outlook remains positive as rate easing expectations build up for the end of FY2024 locally and globally.
2023-06-08T16:56:29+05:30
Stock market update: Nifty Pharma index falls 1.03%
The Nifty Pharma index closed 1.03 per cent down at 12911.35.
2023-06-08T16:52:01+05:30
Big 5 auditors handle nearly every 2 out of 3 Nifty500 companies: Report
India's five largest audit firms dominated the audits of Nifty500 companies in FY23, handling almost two out of every three audits. The Indian Big 5 audit firms managed 551 assignments of the 1,869 companies whose equity shares were listed on NSE, accounting for 29.48% of the total, while the top 10 audit firms accounted for 38%. Deloitte led with 19% of the market capitalisation of the companies they audited with KPMG at 17% and EY at 15%. Auditor resignations dropped from 57 in FY22 to 16 in FY23.
2023-06-08T16:47:36+05:30