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IT services stocks offer value despite AI concerns, says Mahindra Manulife Investment
Krishna Sanghavi, Chief Investment Officer - Equities at Mahindra Manulife Investment Management, favours private banks, manufacturing, capital goods and defence, citing policy support, corporate investment and India's shift towards bottom-up growth. Sanghavi added that upstream oil and gas companies with volume growth also remain attractive.
Blue Jet Healthcare shares rally 9% after Rs 800 crore QIP allotment
Blue Jet Healthcare shares rose sharply on Friday after the company completed its Rs 800 crore QIP, attracting marquee institutional investors, including multiple ICICI Prudential Mutual Fund schemes. The fund raise is expected to strengthen the company's balance sheet, support expansion plans, and boost long-term growth prospects while broadening its institutional shareholder base.
Vedanta Iron and Steel to Vedanta Oil and Gas, Vedanta Power: How Anil Agarwal's demerged stocks are performing - livemint.com
Vedanta Iron and Steel to Vedanta Oil and Gas, Vedanta Power: How Anil Agarwal's demerged stocks are performinglivemint.com
INR extend gains amid dollar weakness; Local benchmark indices surge in early trades
The Indian rupee extended gains in opening trades on Friday tracing weakness in dollar overseas on expectations that US and Iran will continue peace negotiations despite a recent escalation. However, oil prices stay supported after recent streak of gains that could limit gains in the counter. INR opened at Rs 95.27 per dollar and hit a high of 95.22 so far during the day. Yesterday, rupee appreciated by 7 paise to settle at 95.41 against the US dollar. Asian stock markets are trading mostly higher on Friday, following the broadly positive cues from Wall Street overnight, boosted by the surge in semiconductor and AI stocks. Indian benchmark indices surged early on Friday, with the BSE Sensex climbing 701.73 points (0.91%) to 77,443.55 and the NSE Nifty 50 gaining 200.85 points (0.84%) to trade at 24,162.25.
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.
Groww says direct mutual funds remain core offering amid confusion over MF Prime
The investment platform clarified that its new MF Prime service is an optional offering for investors seeking research-backed guidance and does not replace its zero-commission direct mutual fund platform.
Renewed US-Iran Tensions Cloud India's Iran Oil Import Plans
Any disruption to supplies or shipping routes could tighten availability and increase cooking gas prices, analysts said.
Groww responds to Nithin Kamath tweet: Direct mutual funds remain free for DIY investors
Groww assures investors direct mutual funds remain free for do-it-yourself users. The platform stated its commitment to zero-commission offerings for these investors. This clarification follows recent discussions regarding mutual fund offerings in the market.
Zerodha will keep direct mutual fund plans for free, says Nithin Kamath
Zerodha founder Nithin Kamath reaffirmed the company’s commitment to offering direct mutual funds free of charge. He said Coin has helped investors save commissions, while many rival platforms have exited or reconsidered the low-cost direct mutual fund business model.
INR settles higher, supported by good recovery in local equities
The Indian rupee appreciated by 7 paise to settle at 95.41 (provisional) against the US dollar on Thursday even as crude oil prices firmed up and the greenback strengthened in the global markets. A recovery in the stock markets and dollar selling by state-run lenders supported the local currency amid rising volatility triggered by the fresh escalation in the West Asia crisis. At the interbank foreign exchange market, the rupee opened lower by 4 paise at 95.52 against the US dollar and later traded in the range of 95.58 to 95.28 during the day. It settled at 95.41 (provisional), up 7 paise from the previous close. The rupee had declined by 52 paise to settle at 95.48 against the US dollar on Wednesday. Indian shares ended modestly higher on Thursday, after having fallen heavily in the previous session amid escalating hostilities in the Middle East. At the close of the market, the NSE Nifty 50 advanced 80.75 points (0.34%) to settle at 23,962.80, while the BSE Sensex gained 238.22 ...
'Disappeared Or Pivoted': Nithin Kamath Takes Swipe As Groww Shifts To Regular MFs
Kamath defends direct MFs as Groww expands into regular mutual fund offerings.
One nation, one KYC could unlock the next phase of mutual fund growth, says SBI Funds
DP Singh, Joint CEO and RS Srinivas Jain, Executive President & Chief of Strategy at SBI Funds Management discuss how simpler onboarding could bring millions of new investors into mutual funds, the huge growth opportunity within SBI's customer base, rising SIP inflows, the shift towards higher-margin active equity funds, and the company's long-term growth outlook.