An equal-weight Nifty index has outperformed the broader Nifty over the past year, returning 15.14% compared to the Nifty’s 11.63%. This strategy benefited as underperforming blue-chip stocks, like TCS, Infosys, and RIL, had less influence. Fund houses have responded by launching several equal-weight index-based schemes.
Tamilnad Mercantile Bank Q1 profit jumps 35% on strong income growth
Tamilnad Mercantile Bank reported a 35% year-on-year rise in June quarter net profit to Rs 412 crore, driven by higher income and net interest income.