In December, 34 mutual fund NFOs raised Rs 13,852 crore, with 33 open-ended and one close-ended fund. Sectoral and thematic funds led with Rs 11,337 crore. Key launches included funds from Aditya Birla, Axis, Bajaj Finserv, and ICICI Prudential. Index funds raised Rs 1,361 crore, and multi-asset allocation funds mobilised Rs 470 crore.
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.