US Stock Market: ETF issuers rush to capitalise on AI-focused ‘MANGOS’ theme after SpaceX IPO
Two asset managers are seeking regulatory approval for new ETFs tied to the “MANGOS” acronym, a basket of leading AI-focused companies including Meta, Nvidia, Google, SpaceX, Anthropic, and OpenAI. This move follows SpaceX’s record IPO, fueling investor enthusiasm for AI-linked stocks and creating a potential successor to the Magnificent Seven trade.
InCred Money gets Sebi nod for MF licence, plans launch in 6-9 months
InCred Money has secured Sebi’s in-principle approval for a mutual fund licence, marking a key step toward launching its asset management business. The company plans to build a digital-first AMC and expects to go live after completing regulatory and operational requirements.
HDFC MF, ADIA among buyers as Sepia offloads Rs 749 cr in Corona Remedies
Sepia Investments and Anchor Partners sold shares worth about Rs 777 crore in Corona Remedies through block deals. HDFC Mutual Fund emerged as the largest buyer, while several institutional investors, including Aberdeen entities, ADIA, Invesco and WhiteOak, also accumulated stakes.
BRND.ME converts into public company, eyes IPO in 12-18 months
BRND.ME, formerly Mensa Brands, has converted into a public company after shifting its corporate base to India. The consumer brands platform is preparing for a potential IPO within 12-18 months, backed by stronger governance, profitability and a streamlined corporate structure.
Raghuram Rajan’s warning after Hormuz shock: Build bigger oil reserves
Global economic shocks from trade disruptions and geopolitical tensions are reshaping resilience, according to Raghuram Rajan. He stresses India’s need for larger strategic oil reserves and diversified import/export markets. Rajan also highlights the rupee’s depreciation linked to low foreign investment and urges a long-term view on critical commodity exposure, advocating for domestic production and strategic […]
Buying US stocks via Gift City to get easier as Zerodha, others get nod
Buying US stocks could soon become easier for Indian retail investors after Zerodha, Groww, Angel One and Upstox secured regulatory approvals from GIFT City’s IFSCA. The licences will enable the brokerages to facilitate overseas investing, tapping into growing demand for global equities under the RBI’s Liberalised Remittance Scheme.
Manipal Hospitals is said to plan $1 billion IPO in July
Manipal Health Enterprises is likely to launch its IPO as early as next month, targeting a valuation of around $10 billion. Backed by Temasek, the hospital chain has completed investor roadshows. The offering includes both fresh issue and stake sale, potentially becoming India’s first billion-dollar IPO this year.
AI infrastructure and data centre plays could be the next big theme: Atul Suri
Despite negative sentiment and foreign investor selling, Indian equities are showing signs of building a base, with a breakout above 24,500 on the Nifty potentially signaling a move towards new highs. Falling crude oil prices and strong domestic flows provide support, while banking stocks and data center infrastructure are identified as key growth areas.
Vedanta Iron and Steel shares rally 16% in 3 days as Azim Premji-backed fund buys shares worth Rs 102 crore
Vedanta Iron and Steel shares are on a strong rally, hitting the upper circuit for a third day. This surge follows an investment by Premji Invest. The stock has seen significant gains since its market debut. In contrast, other Vedanta demerged entities like Vedanta Aluminium and Vedanta Oil & Gas are experiencing declines.
CarTrade Tech shares surge 12% in two days after launching new used-car platform
CarTrade Tech shares rallied after the company launched CarTrade Used Auto, a new platform targeting India’s fragmented used-car market. Integrating CarWale and OLX India, the initiative spans buying, selling, financing and ownership transfer, while leveraging AI tools and tapping into the sector’s long-term growth opportunity.