Shares of domestic mutual funds experienced a rally of up to 14% after the Securities and Exchange Board of India deferred its decision to lower the total expense ratio (TER). The reduction in TER would have impacted the profitability of the mutual fund industry. The regulator now plans to rework the TER plan, with the new amendments likely to be less stringent. Market experts believe that this decision will benefit asset managers by enabling them to gain a larger market share over time.
Sugar stocks rally continues: Balrampur Chini, Dhampur Sugar, Uttam Sugar Mills rally up to 4%. Two big triggers
Sugar stocks rallied as domestic sugar prices surged sharply over the past month. Government data showed retail prices rising from Rs 48.18/kg on July 20