Posts in category Business Standard
Tata Technologies to boost India’s hot IPO market on trading debut (30-11-2023)
Tata Technologies' IPO raised Rs 3,040 crore ($365 million), with shares being sold at Rs 500 each, the top of the marketed range. Demand exceeded shares on offer by 69 times, as investors piled
Bias for Nifty IT index to turn bullish only above 32,664, indicates chart (30-11-2023)
According to Ravi Nathani, an independent technical analyst, the Nifty Auto index is likely to exihibit bullish trend as it hovers in uncharted territory.
Retail broking revenues could more than double in 5 years: Bain & Company (30-11-2023)
Bain & Co highlights that the industry has also managed to penetrate beyond the top cities
Alipay sells entire 3.44% stake in Zomato, Axis MF unveils new fund scheme (29-11-2023)
WhiteOak Capital Mutual Fund on Wednesday announced the launch of new fund offer (NFO) - Large & Mid Cap Fund, an open-ended equity scheme investing in both largecap and midcap stocks
Municipalities can look at escrow account structure to garner funds: Buch (29-11-2023)
Markets regulator Sebi's chief Madhabi Puri Buch on Wednesday said municipal authorities can look at having specific escrow accounts to garner funds for various urban infrastructure projects.
At an event in the national capital, she said there are a good number of investors who are waiting to invest in urban infrastructure projects.
She said that one thing that can help in garnering funds is credit ratings.
Generally, an entity with a higher credit rating will be able to raise funds more easily compared to those having less credit worthiness.
"Now, the question is to get credit rating. The beautiful part (of) what we have learnt over the last few years' issuances that we have had is (the) structure of creating escrow accounts and therefore, ring fencing certain cash flows. It has really created a fantastic structure in which investors have a lot of faith," the Sebi Chairperson said.
Such an escrow account structure will give investors an understanding of "what is outside the ring
Vanguard to Goldman Sachs, global firms rush to buy Alipay’s Zomato stakes (29-11-2023)
Shares of Zomato have nearly doubled this year as the company started to turn a profit after going public in 2021, prompting some of its biggest investors to lock in gains on their investments
India moves to elite club of nations as mcap tops $4 trn for first time (29-11-2023)
Stocks outside the top 100 universe have made a significant contribution to the mcap growth this year
Axis AMC eyes Rs 3 trillion AUM by March; expects Rs 2,500 cr from new fund (29-11-2023)
Axis Mutual Fund on Wednesday launched a manufacturing fund and has set a target of collecting at least Rs 2,500 crore during the offer period.
The Axis Bank subsidiary which competes with 44 other players, is also eyeing around Rs 3 lakh AUM by the end of this fiscal, given the market rally.
The fund house opened the year with an AUM (assets under management) over Rs 2.25 lakh crore.
The open-ended equity scheme represents the manufacturing theme and opens for subscription from December 1 and closes on December 15.
The fund will track Nifty manufacturing index and will be managed by Shreyash Devalkar and Nitin Arora, the company announced here.
If 10 per cent of the investment is redeemed/switched within 12 months from the date of allotment there will be no exit load, while for the remaining investment there will be a 1 per cent charge, B Gop Kumar, managing director & chief executive of the fund house said.
On the overall AUM target for the year, Kumar said the growth has been
Nifty reclaims 20,000, set for biggest monthly gain since July 2022 (29-11-2023)
Optimism that US interest rates may start to fall boost markets
Aditya Birla Sun Life AMC collects about Rs 800 cr from logistics fund NFO (29-11-2023)
Aditya Birla Sun Life AMC Ltd on Wednesday said it has collected nearly Rs 800 crore through its transport and logistics scheme during the new fund offering (NFO) period.
The asset management company mobilised the amount from its thematic fund -- Aditya Birla Sun Life Transport and Logistics Fund -- during the NFO period from October 27 to November 10. The fund reopened for subscription on November 21.
The open-ended equity oriented thematic fund received a huge response from 53,777 investors and has garnered a total of Rs 798.89 crore, the company said in a statement.
"This fund is a unique offering that captures the growth potential of the transportation and logistics sector, which is a key driver of the Indian economy. The fund aims to provide long-term capital appreciation by investing in companies that are well-positioned to benefit from the structural changes and emerging trends in the sector," A Balasubramanian, Managing Director and CEO at Aditya Birla Sun Life AMC, said.
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