Category: Uncategorized

The number of discontinued systematic investment plans (SIPs) has been growing at a faster pace even as new SIPs opened in the first 11 months of this fiscal dipped compared with the whole of last fiscal. Despite the sharp increase in inflows, the number of SIP accounts discontinued or matured increased 16 per cent to […]

Hedge fund Ahan-I Ltd on Friday divested a 1.5 per cent stake in pharmaceutical company Biocon for ₹380 crore through an open market transaction. According to the bulk deal data available with NSE, Ahan-I Ltd offloaded 1,89,28,363 equity shares, amounting to a 1.57 per cent stake in the company. The shares were disposed of at […]

The Cabinet Committee on Economic Affairs (CCEA) on Friday approved the proposal for listing its renewable energy (RE) funding arm, IREDA, on stock exchanges through an initial public offer (IPO). Incorporated in 1987, the Indian Renewable Energy Development Agency (IREDA) is an NBFC engaged in financing RE and energy efficiency (EE) projects in India. There […]

NS Venkatesh, Chief Executive of the Association of Mutual Funds in India (AMFI), recently lamented that the mutual fund industry is being vilified baselessly. In an interview to Press Trust of India, he said despite customer complaints being the lowest against mutual funds in the entire financial market space, the industry is being targeted. His utterances […]

Amid market pressures, Ixigo has put its IPO plans on the backburner in the near future. However, it is confident that it will sustain its growth for the upcoming fiscal with free cash flow. The online travel agency (OTA) has seen a 5x growth in three years which is higher than its pre-Covid levels. It […]

Notwithstanding the recessionary trend in the global economy, most commodity prices are expected to remain above the pre-Covid level, largely due to renewed demand from China. Steel prices According to Crisil Economic Research released on Thursday, Global steel prices increased over 50 per cent in FY’22, driven by surging prices of coking coal , a […]

Renewed unease gripped world markets on Wednesday as news of Credit Suisse’s largest investor declining to provide more financial assistance to the Swiss bank sent its shares sliding. The yield on two-­year US Treasury notes fell to its lowest since September. Gold prices renewed their recent rally and oil prices pared losses after dropping to their lowest in more than a year. Concerns over further banking sector instability and closely watched inflation data published on Wednesday raised expectations that the Federal Reserve may pause or slow down hiking rates. The Dow Jones Industrial Average fell 509.01 points or 1.58 per cent while the S&P 500 index lost 54.49 points or 1.39 per cent and the Nasdaq Composite was down 111.12 points or 0.97 per cent at around 9 pm IST. Europe bleeds Signs of calm and stability in banking stocks, which tanked in the past week following the collapse of Silicon Valley Bank (SVB), soon paved way for renewed selling as Credit Suisse shares fell around 24 per cent to 1.70 Swiss franc at close. The STOXX 600 index fell 1.29 per cent, while Europe’s broad FTSEurofirst 300 index fell 44.48 points, or 2.51 per cent. The yield on benchmark 10-­year Treasury notes fell to 3.4249 per cent from its US close of 3.636 per cent on Tuesday. Spot gold prices rose 1.11 per cent to […]

The Indian market was reeling under the selling pressure of foreign portfolio investors (FPIs) on Tuesday. Despite no major fall in the US index futures and European markets, the Sensex and Nifty declined 0.6 per cent and 0.65 per cent, respectively, mainly as FPIs sold stocks worth ₹3,086 crore in the cash segment in a […]

The Aditya Birla Sun Life Nifty Bank ETF has registered a growth of over 25 times between last April and February 2023 and surpassed ₹2,000 crore in assets under management. Launched in October 2019, the Birla Nifty Bank ETF tracks the Nifty Bank Index and it suits investors looking for long-term capital growth. Nifty Bank […]

Shares of YES Bank plunged 12.8 per cent at open on Monday as the three-year lock-in on the bank’s shares came to an end. At open, shares of the private sector lender touched an intraday low of ₹14.40, but later pared some losses to touch a high of ₹16.30. However, overall market losses weighed on […]