Axis Mutual Fund changes fund managers of 7 funds amidst allegations
Axis mutual fund has removed two of its fund managers from 7 schemes amidst front-running allegations. SEBI has initiated a probe, and this is a developing situation. The immediate impact on investors in the affected funds can’t be ascertained until the fund house, or SEBI provides further information. None of the funds are part of the Scripbox recommendation.
Indian IT giants go one up on Dalal Street
The IT majors came out roaring with excellent Q3FY22 financial results. Considering their exposure to mutual fund portfolios across the board, this solid performance is good news for your investments and wealth. IT is also a significant employer in the country and this performance indirectly bodes well for the overall economy.
Optimism prevails amongst Indian biz leaders
According to a survey by ET, business leaders of India Inc are bullish about a pick-up in private investment. This combined with a PMI of 55.5 in December reflects well on the prospects of India Inc. For the prospects of your wealth, this is good news indeed.
Key changes take place in RBL Bank leadership, RBI steps in
While the developments at the helm of RBL bank have hit the bank’s stock price, investors can take heart from RBI’s statements and the management’s communication on the situation. We are watching the developments closely. We also believe individual fund managers are well placed to protect investor interests and take appropriate actions in their respective portfolios.
HSBC Mutual Fund acquires L&T Finance’s MF arm for Rs 3,200 Cr
The acquisition serves both HSBC AMC’s growth plans and L&T Finance’s strategic aim to strengthen its balance sheet. For investors in L&T AMC’s funds, though, little is likely to change at this stage. Fund managers and leadership remain the same. We will keep an eye on this and inform you if something fundamental changes.
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Shriram consolidates group companies to create India’s largest NBFC
Shriram group’s consolidation exercise will create India’s largest NBFC, Shriram Finance Ltd. While the market has reacted negatively to this, for now, the long term impact on investor wealth is unclear. It’s definitely something we will keep our eye on and see how it all pans out.
Talk is no longer cheap as prepaid tariffs hiked by major telecom players
Improving profitability is a key driver that is driving major telecom players to increase pre-paid tariffs. It is hoped that this move will do much to make the sector sustainable and financially healthy. In the long run, this move is likely to have a positive impact on investor wealth.