Page 1208 - Markets News
Nikhil Kamath's fund, others, back elder care platform Age Care Labs
The platform has closed $11 million in its Pre-Series B round from Rainmatter Capital (Zerodha's investment arm) and Gruhas (venture capital fund co-founded by Nikhil Kamath and Abhijeet Pai)
 "Nikhil Kamath's fund, others, back elder care platform Age Care Labs")
Euro zone govt bond yields rise as US CPI keeps rate hike in play
The U.S. 10-year Treasury yield - which sets the tone for other bond yields around the world - has dropped around 28 bps since surging to a 16-year high of 4.887% last week
Bulking up: Mutual fund managers favour select banks and auto stocks
Maruti Suzuki, Zomato, ITC and Tata Motors are other stocks that have seen continued buying interest from MFs
 "Bulking up: Mutual fund managers favour select banks and auto stocks")
Technical glitch in BSE prompts dealers, clients to shift trading to NSE
As per exchange officials, the technical issue was due to the internet service provider (ISP), and the issue was resolved by 9:30 am
 "Technical glitch in BSE prompts dealers, clients to shift trading to NSE")
Sensex, Nifty snap 2-day winning run as IT stocks dip post weak Q2 of TCS
Closing Bell on Thursday, October 12, 2023:Infosys and Tech M were the worst hit on the 50-share index, dropping nearly 3 per cent each, followed by Apollo Hospitals, TCS, HCL Tech, LTIMindtree, Wipro
 "Sensex, Nifty snap 2-day winning run as IT stocks dip post weak Q2 of TCS")
Debt MFs continue to log outflow, see Rs 1 trillion withdrawal in Sep
'Some correction in the equity markets towards the later part of September could also have prompted investors to shift towards equity with the expectation of better returns'
 "Debt MFs continue to log outflow, see Rs 1 trillion withdrawal in Sep")
Stock of this iron & steel company has zoomed over 1,000% since April
In the month of July, the stock price of Jai Balaji Industries more than doubled, zooming 106 per cent. Besides it has gained 74 per cent in August and 61 per cent in September.
 "Stock of this iron & steel company has zoomed over 1,000% since April")
Laxmi Organic dips 5% after raising Rs 259 crore via QIP issue
The fund raising committee, at its meeting held on October 10, 2023, approved the allotment of 9.63 million equity shares of face value of Rs 2 at an issue price of Rs 269.20 per share
 "Laxmi Organic dips 5% after raising Rs 259 crore via QIP issue")
PCBL rallies 6% on securing two patents; stock up 80% since April
In past one month, PCBL has outperformed the market by surging 30 per cent, as compared to 1 per cent decline in the S&P BSE Sensex.
 "PCBL rallies 6% on securing two patents; stock up 80% since April")
Zomato soars 4% on heavy volumes, market-cap nears Rs 1 trillion mark
Analysts at Kotak Securities believe Zomato's YoY GMV growth bottomed out in Q1FY24 at 14 per cent YoY and should witness improving performance Q2FY24 onward.
 "Zomato soars 4% on heavy volumes, market-cap nears Rs 1 trillion mark")
MOIL soars 12%, hits over 10-yr high after Quant MF buys 1.1 million shares
On October 11, Quant MF Gilt Fund has purchased 1.1 million equity shares, representing 0.54 per cent of total equity of MOIL, via block deal on the NSE, the exchange data shows
 "MOIL soars 12%, hits over 10-yr high after Quant MF buys 1.1 million shares")
TCS dips 1% as Q2 result misses estimates; announces Rs 17,000 cr buyback
The management maintained that near term demand challenges remain and refrained from giving recovery timelines, implying a slow and gradual recovery ahead.
 "TCS dips 1% as Q2 result misses estimates; announces Rs 17,000 cr buyback")
Stocks to Watch: TCS, Adani Group, IndusInd Bank, Aster DM, RVNL, Cipla
Stocks to Watch on October 12, 2023: RBI has allowed SBI Mutual Fund to acquire up to 9.99 per cent stake in IndusInd Bank
 "Stocks to Watch: TCS, Adani Group, IndusInd Bank, Aster DM, RVNL, Cipla")
Nifty Pharma, Metal: Key levels to watch out on these range-bound indices
According to Ravi Nathani, an independent technical analyst, Nifty Pharma index is oscillating between 15,450 and 15,000; whereas, the Metal index is moving in a range of 6,900 to 6,600.
 "Nifty Pharma, Metal: Key levels to watch out on these range-bound indices")
Sebi extends time for investment advisers to comply with qualification rule
At present, individual investment advisers were required to comply with enhanced qualification and experience requirements by September 30, 2023
 "Sebi extends time for investment advisers to comply with qualification rule")
Sebi resolves over 3,700 complaints through SCORES in September
As many as 17 complaints were pending for more than three months on SCORES as of September end, involving 12 entities such as Principal Mutual Fund and JM Financial Ltd
Equity markets extend gains as oil prices, interest rate concerns ease
Brent crude prices dipped to just below $89 per barrel on the same day
 "Equity markets extend gains as oil prices, interest rate concerns ease")
Number of MF investors crosses 40 million, SIP flows scale a new high
Inflows in Sept were higher than the average flows seen in FY24
 "Number of MF investors crosses 40 million, SIP flows scale a new high")
Equity mutual fund inflows moderate on smallcap, midcap redemptions
Net inflows stood at Rs 14,090 crore on strong SIP flows in September
 "Equity mutual fund inflows moderate on smallcap, midcap redemptions")
Inclination towards small-cap must be seen with risks linked: Sebi WTM
The Sebi whole-time member also asked the MF industry to keep robust checks on its commissions for distributors to avoid a perverse incentive system or malpractices and missellings