Domestic mutual funds were net equity buyers in August, which also saw a strong selling by foreign portfolio investors (FPIs).As per an IDBI Capital report, mutual funds pumped in Rs 17,406.63 crore against Rs 15,083.99 crore in July. On the other hand, FPIs withdrew Rs 17,592 crore in August and Rs 12,419 crore the month before, data available with NSDL showed.The total category wise asset under management (AUM) of the mutual fund industry increased by 3.8 percent (Rs 93,967 crore) to Rs 25.48 lakh crore in August. On year-on-year (YoY) basis, the total AUM of mutual fund houses increased by 1.1 percent. On a sequential trend, AUM across three categories witnessed a fall, while eight others saw a rise, IDBI Capital said.Close Inox Fluorochemicals, Sterling and Willson, Somany Home Innovation and JSW Holdings were the new stocks added by fund houses. They exited Cigniti Technologies and Career Point. related news Brokerages bullish on ICICI Bank, see 20% further upside … [Read more...] about Top 5 fund houses, managing Rs 12.53 lakh crore, shopped for these stocks in August
Mutual fund schemes witnessed a steady inflow in August even as the broader market sentiment remained sombre amid concerns over the macro-environment and earnings revival.Total assets under management (AUM) of the mutual fund industry increased by 3.8 percent month-on-month (MoM) to Rs25,50,000 crore, mainly led by inflows in liquid and equity-oriented schemes.Inflows in equity schemes, including ELSS and arbitrage, went up from Rs 14,000 crore in July to Rs 15,100 crore in August, the highest since February 2018, led by a decline in redemptions (down 26 percent MoM at Rs 12,000 crore), even as gross sales were down 10 percent MoM to Rs 27,100 crore, said a recent report from Motilal Oswal FinancialServices.Close Highest net buying on MoM basis was witnessed in Eicher Motors, followed by Yes Bank, Adani Ports, UltraTech Cement and Reliance Industries, in that order. related news Brokerages bullish on ICICI Bank, see 20% further upside despite rallying 44% in last 9 months … [Read more...] about Top 17 Nifty stocks in which MF schemes have over 2% exposure; should you buy?
The festive cheer was visible on D-Street in the last hour of the trading session as bulls helped the market to reverse losses. The Sensex recouped losses, rising 37 points to 39,058; while the Nifty closed 1.30 point higher at 11,583.For the week, the Nifty closed flat with negative bias down 0.75 percent while the Sensex fell 0.6 percent for the week ended October 25. Experts feel that in the coming week a lot of action will be centred on banking stocks. After stellar numbers from State Bank of India, more PSBs will declare their results in the coming week.Corporate earnings have been muted throughout the year and are expected to be tepid in the near to medium-term as well. Earnings risks continue to be tilted to the downside on account of the underlying weak demand scenario, the uneven asset quality trends in financials and the deflationary trends in commodity prices.Close "For 2QFY20, we expect Nifty sales/PAT to decline by 2-8 percent. The silver lining is that the … [Read more...] about Earnings hits and misses: Top 10 companies September quarter results this week
Market regulator Securities and Exchange Board of India (SEBI) on November 20 doubled the minimum investment in PMS funds to Rs 50 lakh.However, existing investments will be allowed to continue until the end of the PMS agreement, the regulator said in a release detailing decisions taken at its board meet on November 20.SEBI also enhanced the net worth requirement of portfolio managers to Rs 5 crore from Rs 2 crore.Close In the release, SEBI said, non-discretionary Advisory Portfolio Managers will not be allowed to invest more than 25 percent of their asset under management (AUM) in unlisted securities.Get access to India's fastest growing financial subscriptions service Moneycontrol Pro for as little as Rs 599 for first year. Use the code "GETPRO". Moneycontrol Pro offers you all the information you need for wealth creation including actionable investment ideas, independent research and insights & analysis For more information, check out the Moneycontrol website or … [Read more...] about SEBI doubles minimum investment in PMS funds to Rs 50 lakh
After going through the longest court session in the short history of the Insolvency and Bankruptcy Code, the Ahmedabad bench of the National Company Law Tribunal (NCLT) will continue hearing the pleas from Numetal and ArcelorMittal on Thursday.The two companies, both in the race for Essar Steel, had approached the NCLT after their bids were termed ineligible in the first round of bidding, by the resolution professional (RP) overseeing the auction.Both the companies, along with Vedanta Resources, bid in the second round. But bids can’t be opened until the NCLT rules on the pleas.Close On Wednesday, the bench heard arguments from Numetal, ArcelorMittal and Committee of Creditors. The arguments started at 10.30 am and went on till 6 pm. related news Essel Group to sell up to 16.5% stake in Zee Entertainment to financial investors: Report SEBI revamps rights issue process, cuts timeline to 31 days Chhattisgarh govt assures NMDC of extension lease On Thursday, the lawyer … [Read more...] about Essar Steel auction: Marathon hearing to continue on April 5