Bajaj Finserv MF launches largecap fund; Greatdeal settles case with Sebi

Sebi proposed guidelines for CRAs to include detailed reasons for rating actions, especially in cases of default and upgrades of default ratings

Bajaj Finserv Mutual Fund launches largecap fund

Bajaj Finserv Mutual Fund (MF) on Thursday announced the launch of its largecap fund. The fund house said the product, which will run a concentrated portfolio of 25-30 stocks, aims to maintain a high active share vis-a-vis the benchmark index. On the timing of the launch, Bajaj MF said that largecaps are trading at a fair valuation. "Current valuation of the large caps is close to their long-term average of 23.1 (Long term average of trailing twelve months Price to Earnings Ratio). This indicates that large caps are currently near their fair valuation.

Sebi proposes guidelines for CRAs for rating actions

Securities and Exchange Board of India (Sebi) on Thursday proposed guidelines for credit rating agencies (CRAs) to include detailed reasons for rating actions, especially in cases of default and upgrades of default ratings.

In its consultation paper, the regulator has recommended removing "technical default" from policies due to potential negative market signals and covenant triggers.

CRAs have cited operational issues like force majeure events or bank strikes that should be considered in their policies.

Greatdeal settles insider trading case with Sebi

Greatdeal Finconsult Advisors has settled a case of alleged insider trading in shares of Piramal Enterprises Ltd (PEL) by agreeing to pay a monetary penalty of Rs 17.43 crore and agreeing to undergo a voluntary debarment for a period of six months from the securities market. Sebi has also ordered disgorgement of unlawful gains of Rs 15.3 crore along with interest of Rs 9.42 crore. It was alleged Greatdeal was in possession of unpublished price sensitive information related to the financial performance of PEL for the quarter ending June 2018 and traded in the scrip of PEL to make unlawful gains of Rs 15.3 crore. bs reporter "Gross Inflow mobilised through SIP for the quarter ended June 30, 2024, stood at Rs 1,849 crore. SIP AUM as of quarter end stood at Rs 36,095 crore, an increase of 44.84 per cent as compared to June 30, 2023," the AMC said.