The top three fund houses in terms of cash holding are PPFAS (holding of 15.9%), Axis (10.2%) and SBI (10%). There are several reasons for higher cash holding. First, the broad market seems to be richly valued. The benchmark Nifty 50 index at present trades at a price-earnings multiple of 21, which is 13% premium to the ten-year average multiple.
Hindustan Copper shares gain 3% as company plans Rs 7,000 crore capital investment in next 5 years
Hindustan Copper shares rose after the company announced a Rs 7,000 crore investment over the next 5-6 years and signed MoUs with major PSUs to