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.
Tata Capital Q1 Results: Net profit jumps 56% YoY to Rs 1,547 crore, revenue up 15%
Tata Capital announced a substantial net profit increase of over 56 percent. Revenue from operations also saw a healthy rise of more than 15 percent.