SBI Funds IPO priced at discount to listed AMCs on valuation metrics
SBI Funds Management’s IPO is priced at a discount to listed asset management companies. Its valuation reflects a lower share of equity-oriented schemes compared to peers. Equity funds generate higher fee income and profitability for asset managers. Investors typically assign premium valuations to asset managers with a larger equity franchise. This preference may explain SBI […]
Shriram Finance taps foreign banks for cheaper debt
DBS Bank, HSBC, Standard Chartered and MUFG are among the banks which have lined up to provide this loan. ET could not ascertain the names of all lenders. “The loan has been launched with half a dozen banks already lining up for the first underwriting.
Jewellery companies put shine on D-St with strong biz updates
Jewellery stocks surged significantly on Thursday, defying broader market weakness. Companies reported robust business updates for the April-June quarter, showcasing resilience. Senco Gold and Kalyan Jewellers posted strong revenue and same-store sales growth. Despite macroeconomic challenges, demand for organised players remained healthy. Investors are advised to focus on fundamentally strong, organised jewellery companies.
US stocks today: Nasdaq rallies to sharply higher close; chip surge offsets Iran worries
US markets closed higher led by chip stocks, with Micron boosting sentiment through a massive investment plan tied to AI demand. Gains came despite rising US-Iran tensions. Stable jobless claims signaled labor resilience, while Fed rate hike expectations linger. Investors now shift focus to upcoming earnings season and valuations.
Sebi cancels registration of 12 research analysts over unpaid renewal fees
Sebi has cancelled twelve research analyst registrations for failing to pay renewal fees. These entities and individuals had their certificates cancelled after the fees remained unpaid. Sebi initiated summary proceedings after receiving no replies to issued notices.
Groww responds to Nithin Kamath tweet: Direct mutual funds remain free for DIY investors
Groww assures investors direct mutual funds remain free for do-it-yourself users. The platform stated its commitment to zero-commission offerings for these investors. This clarification follows recent discussions regarding mutual fund offerings in the market.
Inflation concerns prevailed in Kevin Warsh’s first FOMC meeting: Fed minutes
During its June meeting, the Federal Reserve decided to keep interest rates unchanged. Committee members expressed concerns about rising inflation and ongoing supply chain disruptions. Economic indicators for the second quarter showed robust growth, and the job market appeared resilient. Although inflation forecasts were adjusted upward, a decline is anticipated later this year, with the […]
59% of large and midcap stocks are at least 20% below their record highs
Around 59% of large and midcap stocks are trading at least 20% below their all-time highs after the recent market correction, creating attractive long-term investment opportunities, according to Abakkus Mutual Fund. The fund house believes improving earnings, reasonable valuations and active stock selection could drive the next phase of returns.
AI selloff drives quant funds’ worst performance since August
Hedge funds have recently faced substantial setbacks, primarily due to widespread trades within unstable markets. Systematic managers lost about 25% of their returns for the year, significantly affecting their overall performance. This downturn arose from substantial bets on U.S. and Asian equities, both of which faced dramatic price fluctuations. Additionally, fundamental managers also reported losses […]
India’s listed new-age companies may hit $1 trillion market value by 2030: Redseer
India’s new-age firms are set to hit a valuation of one trillion dollars by 2030, with approximately 210 companies preparing to enter public markets within the next two years. There’s a noticeable uptick in participation from domestic institutional investors in the IPO arena. Today’s investors are emphasizing companies that exhibit profitable growth and resilience, resulting […]