Sebi strikes a ‘balance’ in fee change; AMCs, brokers rally
Asset management and broking stocks surged on Thursday following Sebi’s revised mutual fund fee structure and broking fee caps. The regulator’s less severe overhaul, with reduced expense ratio cuts and lower brokerage fee limits, led to a relief rally, with several AMC and brokerage firms seeing significant gains.
Meesho m-cap tops Rs 1 lakh cr in seven sessions after its listing
E-commerce platform Meesho’s market capitalization surged past ₹1 lakh crore within seven sessions of its listing, closing Thursday at ₹234 per share. This significant growth, up 37% since its December 10th debut, is attributed to its focus on Tier 2 and 3 city consumers and a robust, asset-light business model generating positive cash flows.
ICICI Pru AMC could gain up to 10-20% on debut
ICICI Prudential Asset Management’s IPO saw a strong subscription, indicating a likely firm market debut with potential listing gains of 10-20%. Analysts suggest the stock could list above ₹2,500, with some assigning a ‘Buy’ rating and a price target of ₹3,000. The company’s strong fundamentals and industry tailwinds support long-term growth prospects.