Notwithstanding sharp volatility in March, mutual fund (MF) investors didn’t fight shy of investing in riskier small-cap-oriented schemes. Inflows into small-cap funds were not just the highest in absolute terms, they were also the maximum as a proportion of assets under management (AUM) among all market capitalisation (m-cap)-oriented categories. Investors funnelled Rs 2,430 crore down small-cap funds – 1.8 per cent of their AUM of Rs 1.33 trillion.
Posts tagged Rediff
Mutual fund investors show bias towards small-caps (28-04-2023)
Notwithstanding sharp volatility in March, mutual fund (MF) investors didn’t fight shy of investing in riskier small-cap-oriented schemes. Inflows into small-cap funds were not just the highest in absolute terms, they were also the maximum as a proportion of assets under management (AUM) among all market capitalisation (m-cap)-oriented categories. Investors funnelled Rs 2,430 crore down small-cap funds – 1.8 per cent of their AUM of Rs 1.33 trillion.
Fixed broadband may trigger Jio, Airtel growth (28-04-2023)
Shares of telecom services providers – Reliance Industries (parent of Reliance Jio), Bharti Airtel, and Vodafone Idea – have shed up to 23 per cent so far in the current calendar year as growth in the wireless subscriber segment begins to plateau amid higher tariffs and rising costs of smartphones. By comparison, the benchmark S and P BSE Sensex, and sectoral index BSE Telecom have dipped 1.8 per cent, and 12.6 per cent, respectively, ACE Equity data shows. However, analysts expect the trend to reverse soon as telecom services providers focus on the next leg of growth — fixed broadband (FBB) segment.
Air India, Sabre ink fare, seat access deal (27-04-2023)
Full service carrier Air India on Thursday announced a new multi-year global distribution services partnership with US-based Sabre Corporation. The collaboration enables travel agents and corporations around the world to access Air India fares and seats through Sabre’s extensive global travel marketplace, Air India said in a statement. In addition to the distribution services, Air India said it is utilising Sabre’s consultancy expertise to help determine optimal routes for its existing and new fleet.
Air India, Sabre ink fare, seat access deal (27-04-2023)
Full service carrier Air India on Thursday announced a new multi-year global distribution services partnership with US-based Sabre Corporation. The collaboration enables travel agents and corporations around the world to access Air India fares and seats through Sabre’s extensive global travel marketplace, Air India said in a statement. In addition to the distribution services, Air India said it is utilising Sabre’s consultancy expertise to help determine optimal routes for its existing and new fleet.
Wipro Q4 net profit dips marginally to Rs 3,074.5 cr (27-04-2023)
IT major Wipro on Thursday reported a marginal year-on-year decline of 0.4 per cent in net profit to Rs 3,074.5 crore for the fourth quarter ended March 2023 and announced a share buyback of up to Rs 12,000 crore. The Wipro board approved the buyback of 26.96 crore equity shares at a price of Rs 445 apiece. “Board…of Wipro…has approved a proposal to buyback up to 26,96,62,921 equity shares, being 4.91 per cent of the total paid-up equity shares of the company, for an aggregate amount not exceeding Rs 120,00,00,00,000 at a price of Rs 445…per equity share,” the company said a regulatory filing.
Wipro Q4 net profit dips marginally to Rs 3,074.5 cr (27-04-2023)
IT major Wipro on Thursday reported a marginal year-on-year decline of 0.4 per cent in net profit to Rs 3,074.5 crore for the fourth quarter ended March 2023 and announced a share buyback of up to Rs 12,000 crore. The Wipro board approved the buyback of 26.96 crore equity shares at a price of Rs 445 apiece. “Board…of Wipro…has approved a proposal to buyback up to 26,96,62,921 equity shares, being 4.91 per cent of the total paid-up equity shares of the company, for an aggregate amount not exceeding Rs 120,00,00,00,000 at a price of Rs 445…per equity share,” the company said a regulatory filing.
Sensex climbs 349 points; Nifty nears 18K (27-04-2023)
From the Sensex firms, Bajaj Finance, Bajaj Finserv, Infosys, Bharti Airtel, Kotak Mahindra Bank, Larsen and Toubro, Mahindra and Mahindra, ITC, Tech Mahindra, Tata Steel, Tata Motors, Titan, Reliance Industries and Nestle were the major winners. Hindustan Unilever, Power Grid, Axis Bank, Tata Consultancy Services, State Bank of India, Asian Paints and Wipro were the laggards.
NSE tweaks methodology before RIL-Jio fin demerger (27-04-2023)
NSE Indices on Wednesday changed the methodology for handling schemes of demerger involving index constituents. The index provider said a company undergoing demerger would now be retained in its indices. The move comes ahead of the proposed demerger of Reliance Industries’ (RIL’s) financial services arm. Under the rules prevailing thus far, RIL — which has the highest weighting among the 50 Nifty components — would have been required to be removed from the index, resulting in a churn by funds tracking the Nifty index.
Don’t see growth in small car segment: R C Bhargava (27-04-2023)
Maruti Suzuki India (MSIL) does not anticipate growth in the small car segment because people continue to find these vehicles unaffordable, chairman R C Bhargava said on Wednesday. He said the market had clearly shifted towards the sport utility vehicle (SUV) segment and the company will go in the same direction. The domestic sales of utility vehicles jumped in India by 34.54 per cent to about 2 million units in FY23.