Post SEBI's diktat on scheme consolidation for the fund industry, Association of Mutual Funds in India, the mutual fund lobby, has issued a list of ranked stocks based on their market capitalisation.According to AMFI large cap stocks are Top 1-100 companies in terms of full market capitalisation, while the mid cap stocks comprise 101-250 companies, and small cap stocks would consist stocks beyond 250 companies in terms of full market capitalization.AMFI has ranked close to 5,250 stocks – 100 large caps, 150 mid caps and the rest small cap.Close AMFI on its website stated, "SEBI has defined large cap, mid cap and small cap companies in order to ensure uniformity in respect of the investment universe for equity mutual fund schemes. Further, SEBI has also stipulated that AMFI shall prepare the list of stocks in this regard. Accordingly, AMFI, in consultation with SEBI and Stock Exchanges, has prepared the list of stocks, based on the data provided by Bombay Stock Exchange (BSE), … [Read more...] about AMFI chalks out list of stocks based on market capitalisation for mutual funds
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BSE and US-based insurance exchange Ebixis are awaiting approval from Insurance Regulatory and Development Authority of India (IRDA), to start insurance distribution platform, said Ashish Kumar Chauhan, Chief Executive Officer, BSE.“We have tied up with Ebixis for the insurance platform and sought IRDA's approval,” he said.“We are expecting the approval soon and the platform will be launched in the next few months,” he added.Close He was speaking on the sidelines of a two-day Retail-Technology Conclave held in Mumbai. related news Kiran Mazumdar Shaw settles alleged insider trading case with Sebi in Infosys matter Fiat Chrysler to recall nearly 700,000 SUVs for electrical fault risk OYO appoints Betsy Atkins as independent director This platform will be similar to BSE StAR MF platform, which allows distributors to purchase and redeem mutual fund schemes on a single platform.Through the insurance platform, distributors will be able to sell different … [Read more...] about BSE plans to start insurance distribution platform by year-end
Himadri BuchMoneycontrol NewsShares of Manpasand Beverages have been on a downward journey for seven consecutive sessions, losing 55 percent of its value since the beginning of the week from May 23.That day it emerged that Deloitte Haskins & Sells India quit as the auditor of Manpasand Beverages as the fruit juice maker failed to provide them with "significant information" on the financial results for the year ended March 31, 2018. The announcement of results, slated for May 30, was subsequently postponed.Close This spooked investors, for whom Manpasand had been the flagbearer of rising rural consumption, the company that reflected the importance of Bharat - rural India - in the Indian economy. After all, Manpasand Beverages has the unique distinction of being the sole listed company from the beverages sector. related news Kiran Mazumdar Shaw settles alleged insider trading case with Sebi in Infosys matter … [Read more...] about Riches to Rags: What made Manpasand Beverages so popular to now so unpopular?
Muthoot Finance’s acquisition of IDBI Asset Management Company from IDBI Bank will offer many advantages to the gold loan lender.Experts in the mutual fund industry said Muthoot Finance will be able to cross-sell mutual fund schemes to their gold loan borrowers.On November 19, the gold loan lender acquired a stake in IDBI Bank’s fund unit: IDBI Asset Management. IDBI Bank confirmed this development in a clarification to a reply sought by the National Stock Exchange.The clarification did not specify the stake bought by Muthoot Finance. IDBI Bank also did not disclose the valuation at which Muthoot Finance acquired IDBI’s asset management business.On November 8, the company had said its board had approved sale of its entire stake in IDBI Asset Management.As on March 31, IDBI Bank’s stake in IDBI Asset Management stood at 66.67 percent, while IDBI Capital Markets & Securities owns 33.33 percentAdvantagesGold investors are for … [Read more...] about How Muthoot Finance can leverage its IDBI AMC buy
Realty firm Puranik Builders has filed fresh papers with markets regulator Sebi to raise an estimated Rs 1,000 crore through its initial share-sale.The IPO comprises fresh issue of shares worth Rs 810 crore, besides, an offer for sale up to 18,59,620 equity shares by the company's promoters and existing shareholders, according to the draft papers filed with Securities and Exchange Board of India (Sebi).Proceeds of the issue will be utilised towards repayment of loan and other general corporate purposes.Close In addition, the company plans to receive the benefits of listing of its equity shares on the stock exchanges. related news Subscribe to CSB Bank: ICICI Direct Avoid CSB Bank: Choice Equity Broking Subscribe to CSB Bank: Hem Securities According to market sources, size of the initial public offer (IPO) is around Rs 1,000 crore.Edelweiss Financial Services Ltd and Axis Capital will manage the company's initial share-sale. Shares of the company will be listed on the BSE … [Read more...] about Puranik Builders files fresh IPO papers with Sebi; plans to raise Rs 1,000cr