32 equity mutual funds had less than 10% portfolio turnover ratio. Should investors be concerned?
In July, 32 equity mutual funds recorded portfolio turnover ratios of less than 10%, spanning various categories like sectoral/thematic, flexi cap, and multi cap. Experts recommend that investors shouldn’t be overly concerned, as low turnover does not necessarily impact returns adversely. Evaluating fund performance requires looking at multiple factors, not just turnover ratios.
Ola Electric shares slip 7% as profit-taking hits stock
Ola Electric Mobility’s stock declined by 7% to Rs 128.2 due to profit booking. The company saw a 32% rise in revenue but also a larger net loss in Q1 FY25.
Kotak Mahindra Bank, Adani Enterprises among 10 largecap stocks where FIIs reduced exposure in Q1
Kotak Mahindra Bank experienced a 4.4% drop in foreign institutional investors’ shareholding in Q1 FY25, with their stake declining to 33.16% from 37.59% in Q4 FY24.
ETMarkets PMS Talk: 9 high-conviction stocks deliver up to 300% returns in Emerging Business Fund: Aditya Sood
The Fund delivered 11.5% in July viz-a-viz benchmark (BSE TRI) of 4.4% thus generating an alpha of 7.0%. This is primarily due to bottom-up stock selection and sizing the high conviction stocks 9 stocks in the portfolio have generated returns ranging from 100-300 percent in the portfolio.
Most Fed officials favour a rate cut in September if inflation continues to cool
Federal Reserve officials leaned towards reducing the benchmark interest rate in September, assuming inflation keeps declining. Minutes from the July meeting indicated likely policy easing, with Chair Jerome Powell expected to provide more details in an upcoming speech. Recent economic data presents a mixed picture, affecting trader expectations and economic sentiment.
Asian equities climb ahead of central bank events: Markets wrap
Asian stocks saw a rise as markets anticipated key announcements from the Federal Reserve and Bank of Japan. The MSCI Asia Pacific Index increased by 0.2%, with gains observed in Japan, Australia, and South Korea. Fed minutes suggested a potential rate cut, and China launched an anti-subsidy probe into EU dairy imports, escalating trade tensions.
Sebi board likely to have new faces as Anshuman, Govil exit
Sebi’s board saw changes with V Ravi Anshuman and Manoj Govil exiting, the latter being replaced by Deepti Gaur Mukerjee. Also, Sebi’s chief, Madhabi Puri Buch, faced allegations linked to the Adani Group by Hindenburg Research. The board will soon discuss these allegations at an upcoming meeting.
FPIs sell off big in financial services sector in August
In early August, foreign investors sold ₹14,790 crore worth of shares in financial services, the highest among all sectors. Key reasons included merger issues and benchmark changes. Other sectors like metals & mining and construction materials saw significant sell-offs. However, there were inflows totaling ₹9,819 crore across eight sectors in the same period.
LIC Housing Finance’s near-term outlook a challenge
LIC Housing Finance saw a 9% decline in its stock in August after a weaker-than-expected June quarter. The company’s net interest income dropped by 10% year-on-year, and net profit decreased by 2%. Analysts have downgraded the FY25/26 earnings per share by 2-4%, indicating challenges ahead.
Bluestone bags Rs 900 cr in pre-IPO round, to file draft papers this year
Jewellery retailer Bluestone has completed a Rs 900-crore financing round, increasing its valuation to $970 million. The Accel-backed firm plans to file for an IPO this year after closing a pre-IPO round. Investors including Peak XV Partners, Prosus, and Steadview Capital participated in the primary-plus-secondary share sale. Kalaari Capital made a partial exit, earning about […]