Aditya Birla and HDFC, also rushed to hold conference calls with their investors in an effort to reassure them about their portfolios
According to MF advisors, the move will impact investor perception about the fund house in the short term
Educated in Mumbai, where his father worked on Dalal Street, Damani dropped out of college after studying commerce for a year.
Fund houses say a committed liquidity line from RBI can ease pressure
NBFCs may be forced to dig into their cash reserves if systemic liquidity support dries up
The Sensex ended 536 points or 1.7% lower at 31,327, while the Nifty dropped 1.7% or 160 points to close at 9,154 on Friday
Can't invest smaller sums unless they meet Sebi's minimum ticket size requirement of Rs 50 lakh
The 30-share BSE Sensex settled 535.86 points or 1.68 per cent down at 31,327.22
FTMF stunned all by deciding to shutter operations of six schemes with assets under management of more than Rs 25,000 crore
MF distributors fear investors could start to withdraw their investments in large quantum from debt schemes, following Franklin Templeton's move
Secorally, barring Nifty Pharma, all the other indices on the NSE ended in the red
All that happened in the markets today.
Historically, the June quarter is the largest contributor to Bajaj Finance's AUM growth
Before the new coronavirus pandemic began to throttle much of China's economy in February, PwC said the deregulation would be a "game-changer" for foreigners' role in the country's bad debt market
Strides Pharma Science, Alkem Laboratories, Ajanta Pharma, Lupin, Ipca Laboratories, Jubilant Life Sciences and FDC were up in the range of 5 per cent to 10 per cent on the BSE
The decision has been prompted by lack of liquidity in the high-yield market, as well as heavy redemption pressures that are affecting all debt funds
At 10:16 am, the S&P BSE Finance and S&P BSE Bankex were down 2.9 per cent and 2.6 per cent, respectively as compared to a 1.5 per cent decline in the S&P BSE Sensex.
The stock failed to hold the gains and declined over 9.6 per cent from intra-day high
In HDFC Bank, HDFC, ICICI Bank, SBI, Axis Bank and Bandhan Bank, FPIs reduced their holdings in the range of 100 bps to 300 bps.
The stock is close to its all-time high level of Rs 792, hit in July 2015