The minimum investment amount would be Rs 500 and in multiples of Re 1 thereafter. The scheme will have two Plans: Regular and Direct. Each Plan offers growth option and income distribution cum capital withdrawal (IDCW) option.

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“Experienced investors are not really bothered. Many DIY and new investors who started investing in equity mutual funds in the last few years are really concerned,”says Hemant Rustagi, CEO, Wiseinvest.

Other fund houses take T+2 days for equity scheme redemptions.

Quant Mutual Fund had investments in the Adani Group stocks as it follows a quant based investment strategy. Quant Mutual Fund follows the VLRT framework.

While the fund’s longer term track record in the hands of its long serving fund manager is healthy, its performance has dipped since 2020, when value style gained favour over growth.

Newest offering boasts sovereign credit profile and low expense ratio.

The investment objective of the scheme is to generate returns that correspond to the total returns of the securities as represented by the CRISIL IBX Gilt Index - April 2028 (before fees and expenses), subject to tracking errors.

The flexi cap fund will invest across market capitalisation—large cap, mid cap and small cap, thus offering a large investment horizon to help investors capture the growth curves across sectors.

Restrictive Rates or Rate Cuts, what will happen in 2023? Investors, analysts, and money managers seem to be divided over whether monetary conditions in the world’s largest economy would stay tight in 2023 till inflation comes down or loosen up to support slowing growth.

"There is a little bit of disconnect between the market and the Fed because the market is watching the inflation numbers coming down and the market is also factoring in the fact that the factors which were contributing to inflation have also begun to ease. For example, the natural gas prices which have gone to a high of $9 plus are now at about $2.5."

“Internationally, there is going to be a slowdown but India is going to be a growth economy. And from that point of view, I do not think that growth not getting respect right now in today's market is going to be a very long lasting phenomenon. There is a temporary reallocation into safety.”

​Mutual fund managers believe that the high net worth individuals can use debt mutual funds instead of these insurance products.

Most equity mutual fund categories lost 0.01-2.68% on the budget day. Only the technology fund category gained 0.67%.

The scheme will have two Plans: Regular and Direct. Each Plan offers growth option and income distribution cum capital withdrawal (IDCW) option. Index shall mature on June 29, 2029 and hence has a defined maturity date.

Financial advisors say most new taxpayers are likely to opt for the new regime as it allows them to pay taxes easily, without elaborate tax planning. The old regime calls for meticulous planning through the year if one wants to avoid the last minute rush.

“FII exodus has come out of the relative valuation of India versus the world and this Budget was not something that could have completely changed sentiment because the government has to do fiscal consolidation. They have to stimulate growth and they have done both. This is the reason why the immediate reaction has been positive but the Budget cannot change market valuations.”

Adani Enterprises and Adani Port are constituents of the Nifty 50, so they are automatically in portfolios of some exchange-traded funds (ETFs) and index funds. But active funds have very little exposure to Adani stocks and are largely unscathed by their fall.

"The Union Budget has a dual focus on growth and fiscal consolidation. The fiscal calculation is based on a nominal GDP growth projection of 10.5% which is credible. At the same time, the fiscal deficit target at 5.9% is largely in line with our estimates while the borrowing amount is slightly below our expectations."

To finance the fiscal deficit in 2023-24, the net market borrowings from dated securities are estimated at Rs 11.8 lakh crore.

Globally, Sebi-run NISM is one of the largest financial market certifying institutions, issuing over 20 programme certificates covering various critical market functions such as sales, advice, operations and compliance across financial market products such as equities, derivatives of equity, currency, interest rates and commodities, mutual funds and pensions.

Currently, there are 17 mutual fund schemes that invest in the infrastructure sector. Toppers in this category have offered 13-19% returns in one year.

The finance minister did not grant anything from the long wishlist in the budget. Sure, all the spending on infrastructure and sops to MSME would help economic growth and boost the sentiment in the stock market.

Earlier when you placed a redemption request before the cut-off time on Monday, you would get money on Thursday in your bank account. With the new system, you will get the money a day earlier — on Wednesday.

As per AMFI data, growth/equity-oriented schemes and solution-oriented schemes witnessed inflows of Rs 1.53 lakh crore and Rs 1,554 crore respectively.

The open-ended equity scheme will follow business cycle-based investing theme, the fund house said on Tuesday.

According to the fund house, the domestic economy is in an interesting phase right now. The onset of the Covid 19 pandemic made matters more challenging amid the NBFC crisis pre-pandemic.

ETMutualFunds looked at data and found out that several mutual funds had investments in the Adani Group companies like Adani Enterprise, Adani Green Energy, Adani Ports & Special Economic Zone (SEZ), Adani Power Ltd., Adani Total Gas., Adani Transmission, Adani Wilmar, Ambuja Cement, and ACC Ltd.

Inflation in India went up in sync with the rest of the world and in a bid to tame inflation, the Reserve Bank of India (RBI) has raised the policy repo rate by 225 bps from 4% since May 2022 to 6.25% to 6.25% as of December 2022.

“If we look at the Quant Fear Index, in the last two or three days, when this fall unfolded in a big way, it did not spike up to that extent to say reversal. It can settle down in the next few trading sessions. We are closer to that event which means the downside may not be very significant from the current levels.”

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To encourage retail investors to invest in gold through the mutual fund route rather than buying physical gold, AMFI had proposed that LTCG on Gold ETFs and Gold Fund of Funds should be brought down in the Union Budget 2023.

While the fund made a strong comeback in 2021, it slipped again in 2022, lagging the index sharply. This leaves its long term return profile weak, needing a lot of catch-up with index and peers.

Funds with diluted value bias have failed to make most of the current uptick.

From Friday, Indian equity markets moved to a T+1 settlement cycle for all stocks, shortening the settlement cycle by a day and making the availability of funds a day sooner than at present.

Edelweiss CRISIL IBX 50:50 Gilt Plus SDL Short Duration Index Fund will replicate CRISIL IBX 50:50 Gilt Plus SDL Short Duration Index by investing in a diversified portfolio of Indian Government Bonds and SDLs, subject to tracking errors.

If you have any mutual fund queries, message on ET Mutual Funds on Facebook. We will get it answered by our panel of experts.

The minimum application amount is Rs 5,000 and in multiples of Rs 1 thereafter. The fund will invest predominantly in equity and equity related instruments across market capitalisation- large cap, mid cap and small cap companies.

This belief has translated to flexicap category being the largest equity investment category in the given scheme classification of mutual funds. The category has garnered approximately Rs 2.49 lakh crores of AUM which is in 1.25 crore folios.

Several fund managers believe that time is right for the government to introduce a debt mutual fund option under Section 80C. AMFI says it will also help to channelise household savings into the bond market and deepen the bond market.

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The purpose of this was to see how many schemes consistently beat their benchmarks in different periods like three, five, seven, and 10 years. Mutual fund advisors often ask investors to choose schemes that have consistently beaten their benchmarks over a long period of time.

Returns from equity mutual funds are taxed depending on the period of holding the investment. ULIPs are not taxed as they are considered insurance products.

Conservative investors who are moving from deposits to mutual funds or those worried about a full-equity portfolio’s volatility and wanting a small allocation to stocks can consider equity savings funds.

As of December 31, 2022, 66% of the company’s total monthly average AUM is contributed by individual investors compared to 58% for the industry.In an exchange filing, the company said that it had a market share of 12.8% of the individual monthly average AUM in the industry, making it one of the most preferred choices of individual investors.

Gunwani also served as the Deputy CIO (Equities) at ICICI Prudential AMC. Gunwani graduated from IIT Madras and has a postgraduate diploma in management from IIM Bangalore.

Investors must focus on the processes and controlling the controllable and not worry too much about other things, for e.g., macroeconomic factors like interest rates, inflation and crude oil prices which are beyond one’s control.

According to fund managers, the government will most likely meet its fiscal deficit aim of 6.4% of GDP in FY23 aided by robust tax revenue growth and higher than budgeted growth in nominal GDP.

Most of the schemes in the category had high exposure in private banks. Among PSU banks, the best performing schemes had investments in Bank of Baroda, State Bank of India, and Punjab National Bank.

To help mutual funds penetrate further into smaller towns and cater to investors long term goal like retirement, here are a few recommendations made by Association of Mutual Funds in India (AMFI) for the Budget 2023.

Such rights allow an employee to receive a bonus equivalent to the rise in the company's stock price over a certain period - something Indian regulations prohibit for companies going public.

Shera Energy achieved good growth in its topline and bottomline in the past 18 months. The company’s PAT increased from Rs 5.03 crore in FY21 to Rs 7 crore in FY22. In FY 2023, as of September 30, 2022, the company earned a net profit of Rs 4.28 crore on a turnover of Rs 339.54 crore

The funding from IHC, which is controlled by a key member of the emirate’s royal family, would have represented about 16% of the offering and would have built on an almost $2 billion investment in Adani’s companies last year

"Given the unprecedented situation and the current market volatility the company aims to protect the interest of its investing community by returning the FPO proceeds and withdraws the completed transaction," the company told exchanges after a board meeting Wednesday evening.

Citing the unprecedented crash in stock prices, Adani Enterprises Chairman Gautam Adani said the board felt that going ahead with the issue will not be morally correct, given these extraordinary circumstances

The flagship entity of the Adani Group got bids for 50.9 million shares against an offer size of 45.5 million shares, excluding the anchor book, at a price range of ₹3,112-3,276 apiece. Adani Enterprises closed 2.8% higher at ₹2,973.90 Tuesday on the BSE, having dropped for two days in a row. The benchmark Sensex ended almost flat Tuesday.

Such rights allow an employee to receive a bonus equivalent to the rise in the company's stock price over a certain period - something Indian regulations prohibit for companies going public.

Balaji Solutions' revenue from operations stood at Rs 482 crore in FY22, falling marginally due to normalisation post-easing of Covid-19 lockdown restrictions, while profit for the same period came in at Rs 15 crore.

The company may consider a pre-IPO placement aggregating up to Rs 24 crore. If such placement is completed, the fresh issue size will be reduced. Proceeds from its fresh issuance worth Rs 86.60 crore will be utilized for funding incremental working capital requirements of the company, and general corporate purposes.

Additionally, AEL is close to receiving further investment commitments of $1-1.1 billion (around ₹8,100-9,000 crore) from investors in Middle East and Southeast Asia with the announcement expected on Tuesday when the FPO closes, said a person directly aware of the matter.

Incorporated in 2018, FirstMeridian provides a wide range of service offerings, including general staffing and allied services, by offering solutions for contract staffing, workforce automation, trade marketing, and global technology through short and long-term technology contract staffing

IHC will make the investment through its subsidiary Green Transmission Investment Holding RSC Limited.

According to the offer documents, the company proposes to use '4,165 crore of the issue proceeds to repay the debt owed by the company and three subsidiaries - Adani Airport Holdings, Adani Road Transport and Mundra Solar.

The basis of allotment of FPO would be finalised by 3 February and shares would be credited to successful applicants' demat accounts by 7 February. The new equity shares would be available for trading the next day on 8 February.

The capital markets regulator said it returned PayMate's offer document back to its merchant bankers on January 17. PayMate said in a press release it aims to submit the mandatory system audit report (SAR) to the Reserve Bank of India by the second week of February. Submission of SAR to the central bank is part of the standard operating protocol to receive final approval from the central bank as payment aggregator, it said.

The Goldman Sachs- and Equity International-backed company had filed a DRHP with the markets regulator in 2019 to raise about Rs 1,900 crore through an initial public offering of shares, but the plan was shelved due to the pandemic.

The company plans to use the proceeds from the fresh issue to repay outstanding loans availed by it and its subsidiary Avalon Technology and Services Pvt Ltd, and also to meet working capital requirements

RIL is currently in a mini-capex cycle across petrochem, telecom (Jio) and new energy businesses, bringing the focus back on the company's capex and rising debt. "While RIL does not give a capex guidance, we expect overall spending levels to moderate as spectrum acquisition is behind us and large immediate spending in the new energy business is unlikely," the brokerage said.

Adani Group has consistently aligned itself to support Prime Minister Narendra Modi’s agenda. It has pledged more than $70 billion to help India pivot from being a fossil fuel importer to a generator of renewable energy.

According to the draft papers, the public issue with a face value of Rs 5 per equity share consists of a complete fresh issue of shares of Rs 750 crore with no offer-for-sale component.Of the proceeds from its fresh issuance, Rs 400 crore will be utilised for prepayment/repayment of all or a portion of outstanding borrowings availed by the company, and Rs 200 crore will be used to fund working capital requirements and general corporate purposes.

The company will offer partly paid shares to retail investors at a discount of ₹64 apiece to the issue price. Investors must pay 50% of the offer price at the time of placing bids in the FPO, and the remaining 50% on one or more subsequent calls, as decided by the board.

Secondary share sale to offer exit to legacy fin investors, growth equity for expansions.

The company had filed its draft red herring prospectus (DRHP) for the IPO with Sebi in September 2021 and is aiming to raise Rs 8,430 crore. Oyo’s last submission to Sebi was the updated financial results of the first half of financial year 2022-23.

As per the draft papers, Innova Captab's proposed IPO comprises fresh issuance of equity shares worth Rs 400 crore and an offer for sale (OFS) of 96 lakh equity shares by promoters and other shareholders.

The OFS consists of sale of 1.25 crore equity shares by Hari Om Rai, up to 31.35 lakh shares by Shailendra Nath Rai, up to 78.38 lakh shares each by Sunil Bhalla and Vishal Sehgal, up to 1.13 crore shares by Unic Memory Technology and up to 9.75 lakh shares by Tupperware Kitchenware.

Innova Captab is an integrated pharmaceutical company in India with a presence across the value of the pharmaceutical chain including research and development, manufacturing, drug distribution and marketing, and exports. The company filed preliminary IPO papers with Sebi on July 07, 2022.

The FPO could result in the stakes of promoters led by Gautam Adani falling by 3.5%. As of September 2022, the promoters owned 72.63% of Adani Enterprises, while the remaining 27.37% was with public shareholders. Life Insurance Corporation held 4.03% among the public shareholders, while Nomura Singapore, APMS Investment Fund, Elara India Opportunities Fund, and Lts Investment Fund owned stakes between 1% and 2%.

In the past six months, 27 companies with IPO plans worth ₹38,000 crore have allowed their regulatory approvals to lapse, according to Prime Database numbers. Similarly, the permissions to another nine firms planning to raise a total of ₹15,000 crore are set to expire over the next two months.

The company, ICICI Securities and JM Financial, did not respond to ET's queries. In 2018, Oman India Joint Investment Fund invested $24 million or ₹170 crore in the company for a 26% stake.

Cyient DLM focuses on highly complex, low-volume electronics manufacturing for safety-critical segments. The company had last year appointed Anthony Montalbano as its CEO.

Adani Enterprises late November announced the initiation of a much-awaited follow-on public offer (FPO) to raise as much as ₹20,000 crore ($2.5 billion) from retail and institutional investors, riding piggyback on the meteoric 18-fold jump in its stock prices in the last five years. This will be the largest such issuance in India to date.

For a developing country such as India, Small and medium enterprises (SMEs) are the wheels that turn the economy, and SMEs contribute to one-third of India's GDP. The SMEs have played an essential role in India's socio-economic development and in globally developed countries such as Germany. In fact, SMEs generate 54.4% of overall value added in Germany and 63.7% of overall employment in the German non-financial business economy.

Proceeds from the fresh issue will be used for investment in its material subsidiary BDJ Oxides. It will use Rs 45 crore in repayment of borrowings availed by its arm, Rs 5.31 crore will be used for setting up a Research & Development centre, Rs 65 crore will be used to fund the long-term working capital requirements of its material arm.

He said setting right expectations, being transparent and not overselling are great ways to reduce the volatility of the stock price pre and post-IPO. "Doing this well can make shareholders feel like owners & help reduce customer acquisition costs, the biggest cost for B2C businesses."

Shares of the cash logistics player closed at ₹106.50, a 13% premium to the issue price. This is the first IPO to close above the offer price on listing day in the past six issues.

The quota for retailers was subscribed 39.78 times whereas the portion for non-institutional investors fetched 33.94 times bids, and the allocation for qualified institutional bidders was booked 2.40 times.

The company had filed its Draft Red Herring Prospectus (DRHP) with Sebi in September 2021 and is aiming to raise Rs 8,430 crore

The company is selling its shares in the range of Rs 61-65 apiece between December 30 and January 4, in a lot size of 230 equity shares

Pranav Haldea, Managing Director, PRIME Database, said the momentum seen in the last 2 months of 2022 is likely to continue, at least for the smaller-sized IPOs. However, it may be a while before we see larger-sized deals, especially in light of the lack of sustained interest from FPIs, he said.

Overall, 40 Indian corporates raised Rs 59,412 crore through main board IPOs in calendar year 2022, half of the Rs 1,18,723 crore (all-time high) mobilized by 63 IPOs in 2021, according to the database. According to Pranav Haldea, Managing Director, PRIME Database Group, Rs 20,557 crore or a huge 35% of the amount raised in 2022 was by LIC alone.

In the past two years, several large FMCG companies, such as HUL, ITC, Marico, Emami, Reckitt, Wipro Consumer and Colgate Palmolive, have picked up stakes in DTC digital-led startups that garnered popularity among consumers during the Covid-19 pandemic.

Going by the draft papers, the firm may explore a pre-IPO placement aggregating to Rs 15 crore. If such a placement is undertaken, the size of the fresh issue will be reduced.Proceeds from the issue worth Rs 59.50 crore will be utilised towards financing the expansion of its manufacturing facility in Nashik and for general corporate purposes.

Reliance Securities said while the company has a quality product mix, strong customer base across geographies and industries, good financials and a wide product portfolio, the issue seems pricey based on the current financials.

Oyo has been asked to update information such as updated risk factors, key performance indicators (KPIs), outstanding litigations and basis for valuation, the people cited above said.

The viral success of ChatGPT has turned the spotlight on AI on Wall Street, reminiscent of the blockchain hype from a few years ago when shares of companies remotely associated with the technology surged

Friday's jobs report wrongfooted traders who were banking on an imminent pause in the Fed's rate-hike cycle, and gave the U.S. currency a leg up

Saudi Arabia, the world's top oil exporter, raised prices for its flagship crude for Asian buyers for the first time in six months amid expectations of demand recovery, especially from China.

The company has also appointed a new chief financial officer in Shinu Mathai who will take over the position from March 1. Apart from the role of CFO, Mathai will also carry out the duties as the compliance officer for the company

Its net interest income rose by 38% at Rs 567 crore. Total income grew by 32% at Rs 910 crore. Impairment of financial instruments dipped by 24% at Rs 89.4 crore. Pre-provision operating profit increased by 38.7% year-on-year at Rs 380 crore

Expectations of high rates for a protracted period dragged Wall Street's main indexes down on Monday. But, all three major averages are in the black for 2023, with the Nasdaq adding over 13%, led by a revival in battered mega-cap growth stocks

The Australian dollar earlier bolted higher after its central bank reiterated further increases would be needed, while the yen gained after an unusually strong Japanese wage data

The board, at its meeting today, approved allotment of 16,133,184,899 equity shares of face value of Rs 10 each at an issue price of Rs 10 per share, aggregating Rs 161,331,848,990 to the Department of Investment & Public Asset Management, Government of India (acting through President of India),” Vi said in BSE filing late Tuesday evening

Virtue of spending meticulously, in pockets which provide maximum multiplier is something the FM has shown in Budget 2023, just like the careful spending towards pandemic led stimulus a couple of years back. Even while checking all the right boxes, we have reduced our fiscal deficit

The volatility gauge ending lower in trade is another indication that traders haven’t taken any aggressive bets in the run-up to the policy. India VIX, often termed as the ‘fear gauge’, ended nearly 4% down at 14.1250 points

Traders are speculating that the central bank would push the benchmark rate to 5.1% in June, levels that policymakers have backed vociferously

Along with the divestment decision, the board has also approved and released third quarter results of BSE. The company's consolidated net profit fell 15% to Rs 52 crore in the three months ended December period, compared with Rs 61 crore in the corresponding period of last year

Overall, BSE reported a sustained third quarter result amidst a difficult market environment. 2022 was a period of transition for the BSE, and as we embark on a new journey in the new Financial Year, I believe that a balanced business model will enable us to grow much higher," Sundararaman Ramamurthy, MD and CEO of BSE, said.

Niranjan Gupta, Chief Financial Officer (CFO), Hero MotoCorp, said “We have started recovering our market shares and expect this journey to continue backed by exciting launches lined up over next few quarters, especially in the premium segment. This, coupled with our renewed focus on savings programme should also help in improving our margin profile going forward

A company issues bonus shares for their shareholders to increase the liquidity of the stock as well as with the aim to decrease its stock price to make it affordable for investors

The company's stock came under heavy selling pressure in November last year, when the lock-in period for pre-IPO investors ended. Nykaa sought to limit the damage by announcing a bonus issue, but the move failed to persuade investors to stay put. The shares have lost over 50% in the last one year period

An ECB survey on Tuesday showed euro zone inflation expectations were still edging up at the end of last year, while Fed Minneapolis President Neel Kashkari was out saying he still thought U.S. rates should rise to at least 5.4% from their current 4.5%-4.75% range

The fund which has raised $5.2 billion is Goldman Sachs’ inaugural direct private markets fund dedicated to investing in high-growth businesses with strong market positioning, high growth rates and durable business models, the release said

The total purchase value of equity, purchased over the last many years, under all the Adani group companies is Rs 30,127 crore and the market value for the same as at close of market hours on January 27, 2023, was Rs 56,142 crore, as per LIC.

The board has approved interim dividend of Rs 65 per share for the current financial year

Shares of Adani Group companies rallied on Tuesday, a day after it prepaid some loans. >> For more such web stories click on the ET icon below

We would have to say that the proceedings for the day were along expected lines, with the 82.80 level proving a hindrance for dollar bulls, a trader at a Mumbai-based bank said

Gold prices should consolidate in range for the day as investors eyeing Federal Reserve Chair Jerome Powell's speech later in the day to gauge the US central bank's monetary policy path after latest stronger non-farm payrolls data," Gandhi said.

The NSE Nifty index closed 43.1 points down at 17721.5

Apar Industries, GRP Ltd, SKM Egg Prod, Tara Chand Logistic and Action Const., hit their fresh 52-week highs during the day.

As Nifty formed a lower top for the second consecutive day, chart readers said 17,870 – 17,854 could be the trading range for the Nifty in the near term.Options data suggests a broader trading range between 17400-18200 zones, while an immediate trading range between 17600-17900 zones.

The Nifty Auto index closed 1.0 per cent down at 13226.05.

The NSE Nifty index closed 43.1 points down at 17721.5

Bharti Airtel Q3 Profit: A combination of an improved subscriber mix, a rising proportion of data users and higher data usage also boosted India’s second largest telco’s average revenue per user (ARPU), a key performance parameter, by 18.4% on-quarter to Rs 193

In the Nifty pack, 19 stocks closed in the green, while 31 stocks ended in the red.

As concerns over higher interest rates for a probably longer time continued to weigh on most global markets, headline equity indices in India ended lower for the second straight session. >> For more such web stories click on the ET icon below

The Nifty Bank index closed 0.28 per cent up at 41490.95.

The 30-share BSE Sensex closed down 220.86 points at 60286.04

“Looking at the order book can be misleading in defence stocks because one needs to see the milestone payments, how the execution happens, how the commodity prices behave. We are looking more at Solar and HAL in this particular space. In Solar, for example, the defence is still sub-10%, it is more industrial chemicals and that book is nicely shaping up.”

Total income for the quarter jumped 53% to Rs 2,258 crore in the third quarter as against Rs 1,471 crore in the corresponding quarter of last year.

The 30-share BSE Sensex closed down 220.86 points at 60286.04

Tata Steel, Hindalco, ITC, Sun Pharma and Maruti Suzuki were among the top losers on NSE in today's trade.

While the Union Budget proved to be a boon for many sectors, this was not the case for insurance companies. >> For more such web stories click on the ET icon below

The 30-share BSE Sensex closed down 220.86 points at 60286.04

The 30-share BSE Sensex closed down 220.86 points at 60286.04