Posts in category Business Standard
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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Ireda gains 88% on debut; Tata Tech, 2 others to list IPOs on Thursday (29-11-2023)
As per grey market operators, Tata Tech shares could gain over 80 per cent, while that of Gandhar are pegged to gain 40 per cent on debut
Tata Technologies IPO listing tomorrow: Here’s what the experts expect (29-11-2023)
Tata Technologies IPO subscription: It was subscribed 69.43 times as of the final day of subscription on November 24, driven by high participation from institutional buyers
Renewables lender IREDA hits over $1.8 bn valuation in trading debut (29-11-2023)
Shares of IREDA, which were listed at 50 rupees, climbed to a high of 57.75 rupees, well above their initial public offer (IPO) price of 32 rupees
Gold at near 7-mth peak as dollar, yields dip on Fed rate-cut speculations (29-11-2023)
Spot gold rose 0.2% to $2,044.69 per ounce by 0632 GMT, after hitting its highest since May 5. U.S. gold futures for December delivery rose 0.3% to $2,045.30 per ounce
PCBL surges 6% on plan to acquire Aquapharm Chemicals for Rs 3,800 crore (29-11-2023)
Thus far in the month of November, the stock price of PCBL has rallied 35 per cent, while since April it has been more than doubled or zoomed 133 per cent
Tata Tech IPO: How to check allotment status, listing date, GMP & more (29-11-2023)
Tata Tech IPO: The shares of Tata Technologies will likely be listed on the bourses (BSE & NSE) on November 30
Aster DM Healthcare soars 15%; hits new high on stake sale plan in Gulf biz (29-11-2023)
The company announced on Tuesday that its subsidiary would sell its stake in Aster DM Healthcare FZC to Alpha GCC for $1.01 billion (Rs 8,125 crore).