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SBI Funds IPO DRHP: India's Largest AMC, Rs 11,693 Crore OFS, SBI And Amundi Selling — All You Need To Know
SBI Funds Management manages mutual funds, portfolio management services, alternative investment funds and offshore funds under the SBI Mutual Fund brand.
Rs 5 lakh crore wealth boost! Top 5 factors fuelling today's 800-point Sensex rally
Indian stock markets experienced significant gains on Friday, with Sensex and Nifty rising over one percent. Strong first-quarter earnings from TCS boosted investor sentiment, leading IT stocks higher. Positive global market trends and a decline in market volatility also contributed to the rally. Despite escalating Iran-US tensions, markets largely ignored the geopolitical developments. Analysts anticipate continued economic resilience and positive sector-specific responses moving forward.
Stocks in news: TCS, Groww, Shriram Finance, Dixon Tech, Anand Rathi Wealth
Indian markets saw a rebound on Thursday, recovering from Wednesday's sharp sell-off. TCS reported a 5% year-on-year profit growth, and Groww affirmed its direct mutual fund strategy. Shriram Finance is raising funds to reduce borrowing costs after a rating upgrade. Maruti Suzuki plans to add service points, and Dixon Tech will expand smartphone manufacturing. Premier Energies commissioned a solar module facility, and Anand Rathi Wealth saw profit rise.
Cochin Shipyard among 5 F&O stocks with a sharp rise in futures open interest
Lodha Developers, Tata Elxsi, ABB India, Angel One and Cochin Shipyard saw futures open interest jump over 5% on July 8, signalling fresh positions and heightened trading activity.
TCS, Infosys crash up to 55%: Why India's largest mutual fund scheme is still buying
India's largest mutual fund scheme is buying more shares of TCS and Infosys. This buying occurs even as these IT stocks experience significant market value losses. The fund manager's conviction rests on current cash flows rather than future AI narratives. While AI disruption pressures revenue, it also creates new technology spending opportunities. The sector is no longer considered expensive, but earnings visibility remains a concern.
Apollo Micro Systems board approves ₹3,322 crore fund raise via various methods; Stock in focus
Apollo Micro Systems is likely to be one of the beneficiaries of the Defence Acquisition Council's ₹52,000 crore procurement plan for the Indian Army, Navy and Air Force.
Persistent Systems Ltd sees sustained gains
Persistent Systems Ltd is quoting at Rs 4694.2, up 0.25% on the day as on 12:44 IST on the NSE. The stock is down 19.63% in last one year as compared to a 3.99% drop in NIFTY and a 29.98% drop in the Nifty IT.
Persistent Systems Ltd soars 5.31%, up for third straight session
Persistent Systems Ltd is quoting at Rs 4560, up 5.31% on the day as on 12:49 IST on the NSE. The stock is down 23.37% in last one year as compared to a 5.02% fall in NIFTY and a 30.7% fall in the Nifty IT index.
Tata Power Company Ltd eases for fifth straight session
Tata Power Company Ltd is quoting at Rs 385.25, down 0.32% on the day as on 13:19 IST on the NSE. The stock tumbled 5.24% in last one year as compared to a 6.32% slide in NIFTY and a 8.74% spurt in the Nifty Energy index.
Netweb Technologies shares fall 10% ahead of board meeting to consider fund raise
Netweb Technologies said its board will meet on Wednesday, July 1, to evaluate and, if approved, authorise one or more fund-raising proposals.
Oracle Financial Services Software Ltd gains for fifth session
Oracle Financial Services Software Ltd is quoting at Rs 10909, up 4.21% on the day as on 12:44 IST on the NSE. The stock is up 20.22% in last one year as compared to a 5.31% fall in NIFTY and a 29.42% fall in the Nifty IT.
Wipro Ltd slips for fifth straight session
Wipro Ltd is quoting at Rs 174.35, down 0.08% on the day as on 13:19 IST on the NSE. The stock tumbled 35.28% in last one year as compared to a 4.75% slide in NIFTY and a 29.66% fall in the Nifty IT index.