Around seven mutual fund NFOs and three SIFs are open for subscription now. Mutual fund houses launch new funds to complete their bouquet of offerings. Here is a detailed list of new funds available (Source: ACE MF)
ITC’s tobacco business is going cheap but Kotak Institutional Equities thinks market has it wrong
Kotak Securities estimates ITC’s tobacco business is valued at just 11X forward earnings, suggesting potential undervaluation. The brokerage sees stronger growth in non-tobacco businesses and