MFs rebalance new-age, IT portfolios ahead of Q3 result season
Mutual fund managers adjusted portfolios in December, buying Swiggy and Zomato amid underperformance and favoring Tata Consultancy Services over Infosys. They also rotated allocations in InterGlobe Aviation following a selloff due to mass flight cancellations, preparing for the Q3 results season.
Asian stocks head for fourth weekly gain as tech shares climb
Asian stocks are on track for their best weekly run since May. Technology shares are reaching new highs, driven by strong investor interest in artificial intelligence. This surge follows positive news from Taiwan Semiconductor Manufacturing Company, boosting confidence in the tech sector. US and European markets also saw gains, with chipmakers performing exceptionally well.
IPO information must explain business drivers: Sebi
Sebi Chairman Tuhin Kanta Pandey emphasized the need for issuers to clearly disclose their capital structure, including past fundraising and control changes, before an IPO. He also called for greater business model clarity, transparent revenue/cost drivers, and independent verification of projections, citing concerns about due diligence and unlisted share valuations.
Fed independence erosion to be negative for US credit rating: Fitch
Fitch’s top sovereign analyst warned that a significant erosion of the Federal Reserve’s independence would negatively impact the US credit rating. The primary concern is any indication that the dollar’s global reserve currency status could diminish, following an investigation into Fed Chair Jerome Powell.