US Stock Reports, Quotes and News
Mutual funds invested Rs 10,000 crore in Kotak Mahindra Bank and HDFC Bank in April, despite their decline in Nifty rankings. Fund houses like HDFC MF, SBI MF, and Axis MF raised bets on HDFC Bank, while Kotak Mahindra saw buying from Nippon India MF and others. The investments were based on data from Prime Database.
A9 Finsight and Vivriti Asset were top performers among AIF Funds in April 2024, outperforming the Nifty50. Several other funds, including Income Builder Fund, also showed impressive growth.
Anuj Kapoor of JM Financial discusses the tax efficiency of arbitrage funds for HNIs and the growth of new millionaires in Tier 2 and Tier 3 cities. He highlights the interest in unlisted opportunities, strategic advisory for family businesses, and the impact of market volatility on investments. Kapoor says: \”Funds focussed on the manufacturing, defence, PSUs, which have been underperformers over the last decade, have shown strong performance and have delivered stellar returns.\”
Ajit Dayal of Quantum Advisors cautions about the dangers of high allocations in smallcap funds due to liquidity concerns and stresses the importance of governance in investments to ensure profitability and mitigate risks in the Indian market. Dayal also says: \”European capital for India is also important and European capital is increasingly trying to find alternatives to be in other nations besides China.\”
Gold and Silver commodity mutual funds have outperformed equity funds in the latest month. Notable performers include Invesco India Gold ETF FoF and Aditya Birla SL Gold Fund. Silver funds led by UTI Silver ETF FoF showed significant returns.
(Reuters) – WeWork Inc founder Adam Neumann has made a fresh push to buy back the firm even as it seeks hundreds of millions of dollars to emerge from bankruptcy and avoid a sale, FT reported on Thursday.
By Saqib Iqbal Ahmed
Of the 25 public sector undertakings (PSUs) that published their shareholding for the March quarter, 11 saw a decline in mutual fund holdings, while only three stocks saw an increase in stakes.
Fund houses together owned 140.91 crore shares of ITC as of March-end. In value terms, the ITC shares worth Rs 11,120 crore were bought by MFs taking the total value of these shares to Rs 60,360 crore.
The US-based GQG is planning to invest about $500 million, while SBI Mutual Fund is considering an investment of $200-300 million in the FPO, the report said further.