Posts in category Business Standard
Mutual fund folios continue upward trajectory; adds 4.7 mn accounts in Jan (20-02-2024)
Mutual fund industry has seen an uptick in folios, with the addition of 46.7 lakh investors' accounts in January, fuelled by increasing awareness about the financial instrument and ease of transactions through digitisation.
Over the past year, average folio additions were 22.3 lakh per month and the latest figure was more than double this level.
With this addition, mutual fund folios of the industry stood a shade away of 17 crore at 16.96 crore currently, a surge of 19 per cent from 14.28 crore registered a year earlier, latest data with the Association of Mutual Funds in India (AMFI) showed.
On a month-on-month basis, the industry has seen a growth close to 3 per cent in folio numbers from 16.49 crore recorded in December 2023.
Folios are numbers designated to individual investor accounts. An investor can have multiple folios.
WhiteOak Mutual Fund Chief Business Officer Prateek Pant said that factors such as high levels of digital literacy, rising disposable incomes, and increase
EPFO adds 15.62 lakh net members in December recording best performance in last three months (20-02-2024)
Employee's Provident Fund Office or EPFO's provisional payroll data highlights that EPFO has added 15.62 lakh net members in the month of December, 2023 which is highest in last three months. An increase of 11.97% has been registered in net member addition during the current month as compared to the previous month of November 2023.
NSE SME IPO of Deem Roll-Tech subscribed 2.10 times (20-02-2024)
The offer received bids for 47.71 lakh shares as against 22.68 lakh shares on offer.
Hong Kong Market gains on China rate cut (20-02-2024)
Earlier in the day, the Chinese central bank announced a large 25 basis points cut to the five-year LPR to 3.95%. The LPR is benchmark lending rate for home loans and long-term corporate loans. Todays rate cut signals policymakers are getting serious about supporting the property market.
IPO-bound Unicommerce expanding oversees ops by client acquisitions (20-02-2024)
IPO-bound SaaS platform Unicommerce is expanding its overseas operations by onboarding more clients, a top official said on Tuesday.
Unicommerce is already serving 46 clients in Singapore, the Philippines, Indonesia, the UAE, and Saudi Arabia and is now expanding these operations by adding more clients.
Some of its clients in these markets include the UAE-based fashion brand Redtag, the Philippines-based kids' wear brand Edamama and the UAE-based logistics player RSA Global.
"After building a solid foundation in the country, international markets are a growth area for us now and we will now be expanding our operation in these overseas markets.
"The domestic e-commerce market is ahead of most other markets in the region allowing us to offer future-ready solutions for our overseas clients," Kapil Makhija, managing director & chief executive told PTI Tuesday.
Its domestic clientele includes Lenskart, Fabindia, Zivame, TCNS, Mamaearth, Emami, Sugar, Boat, Portronics, Pharmeasy, GNC, .
Quick Wrap: Nifty Media Index rises 2.27% (20-02-2024)
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Trident appoints Samir Joshipura as CEO, KMP (20-02-2024)
Trident announced that its board has appointed Samir Joshipura as the chief executive officer & key managerial personnel (CEO & KMP) of the company effective from 20 February 2024.
Crude oil hovers near 3-week high on tensions in West Asia, China demand (20-02-2024)
There was no settlement for WTI on Monday due to a U.S. public holiday
EURUSD At One-Week High; Eurozone Dec Current Account Surplus Rises To 6-Month High (20-02-2024)
Euro is extending gains to a week high during the European session on Tuesday as dollar gave back intraday uptick and as euro area current account surplus rose to a six-month high in December. The European Central Bank reported Tuesday that current account surplus rose to EUR 32 billion in December from EUR 22 billion in November. This was the highest surplus since last June. The surplus on goods trade increased from November, while there was a notable reduction in the shortfall in primary income. The surplus on goods trade increased to EUR 35 billion from EUR 32 billion. By contrast, the surplus on services dropped to EUR 16 billion from EUR 17 billion. Meanwhile, dollar index returned mild gains made earlier in the day as all eyes are glued to FOMC minutes due this week for further cues. The minutes are expected to provide clarity following higher than expected US CPI and PPI data last week. EURUSD is currently quoting at $1.0807, up 0.16% on the day. Meanwhile, EURINR jumped on ...
China Market rises 0.42% (20-02-2024)
Also helping sentiment, China's securities watchdog said it held a series of seminars with market participants who proposed tighter scrutiny of company listings and trading behaviour.