A private equity fund promoted by domestic brokerage Motilal Oswal on Monday announced that it has garnered commitments of Rs 4,500 crore for a new platform. The fund was raised primarily from high net-worth individuals and family offices by Motilal Oswal Alternatives (MOA) for the India Business Excellence Fund (IBEF) IV, as per an official statement. With the latest close, the overall assets under management for MOA touches Rs 14,000 crore, and three-fourths of the money or commitments have been sourced from domestic investors from 55 cities. The newest fund is sector agnostic one which will look for opportunities in the consumer, financial services, life sciences and niche manufacturing, it said. Acknowledging the growth in the startup ecosystem, it said 10-15 per cent of the investments will be in the tech sector, it added. Even before the final close, IBEF IV has already made two investments -- in Mankind Pharma-promoted diagnostic chain Pathkind and tile manufacturer Simpolo
A similar view was shared by Raamdeo Agrawal, co-founder and joint managing director, Motilal Oswal Financial Services, who suggested that Indian equity markets were on the cusp of a major bull-run
The stock had recently hit a fresh 52-week low of Rs 1,900 on December 27, 2021
FPIs have cornered the bulk of the free float available in sectors such as private banks, real estate, and insurance.
Analysts say the decline in ownership is due to underperformance of financial stocks - the biggest overweight sector for FPIs
Increased volumes-based buying shows market participants' keen interest in brokerage firms
Tata Motors outlined ambition to reach double-digit commercial vehicle margins and high single-digit passenger vehicle margins in coming years
The debt-ridden telecom firm, on Saturday, reported narrowing of consolidated loss to Rs 4,532.1 crore in Q3FY21, mainly on account of a one-time gain from stake sale in Indus Towers
The series of price-target upgrades continued for the sixth consecutive quarter for the state-owned lender as it reported a 7 per cent decline in net profit at Rs 5,196 crore for the December quarter
From its recent low of Rs 150.85 apiece (closing basis) touched on May 22, 2020, the stock has rallied 39 per cent on the BSE, data show
Foreign brokerage UBS raised its target price for the stock to Rs 620 from Rs 570, while Nomura raised the target to Rs 645 from Rs 610
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Bank Nifty is in long unwinding cycle
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TCS is in a long- long unwinding cycle
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