The names of the seller were not known. Kopran's share price has rallied 170 per cent in the last one year from a level of Rs 104 touched on March 20, 2023
A delay in exiting holdings of such stocks could defer the return of funds to investors, who expect to receive their money back within two to three days, as per current industry practice
India has 27 smallcap funds and 24 midcap funds, managing Rs 2.4 trillion ($28.93 billion) and Rs 2.1 trillion respectively
The Nifty midcap 100 rose 2 per cent, while the Nifty Smallcap 100 gained 3.5 per cent. Both indicies had plunged about 5 per cent each a day earlier in what was their worst performance in two years
The top 10 investors in the smallcap and midcap schemes have an aggregate holding of 1.54 per cent and 0.91 per cent, respectively
Analysts said elevated valuations in the small and mid-cap segment have been a concern for a while, but the strong message and the recent action by the regulator intensified the selling pressure
Stock market highlights on March 13: The BSE m-cap has plummeted by Rs 20.69 trillion in three days
MFs to release info on investor concentration & portfolio turnover ratio
The drop in the smallcap index comes even as the benchmark Nifty logged a fresh record high in an earlier session
The S&P BSE Smallcap index was the top loser among broader indices, down 1.8 per cent to 42,957. The index has corrected 8.3 per cent from its record high level of 46,821 touched on February 7, 2024
RIDING THE WAVE: Smallcap stocks dominate portfolios in the year's rally
A conservative approach, diversified portfolio and don't be discouraged by setbacks in the market
The Securities and Exchange Board of India defines a large-cap company as one which is among the top 100 stocks in terms of market value
With today's decline, the BSE Smallcap index has slipped 5 per cent from its record high level touched on February 7
Venkataraman observes that markets will also receive support from monetary easing globally
Redemption in smallcap funds can create challenges
While the industry has always had large and midcap funds, there is no scheme that offers exposure only to mid- and smallcap stocks
Capital markets regulator Sebi has asked mutual fund houses to put in place a framework to safeguard investors, who invested in smallcap and midcap schemes, amid a "froth building up" in these categories. Also, the regulator has suggested steps such as restrictions on inflows in these segments, portfolio rebalancing, and laying guidelines to safeguard investors from the first-mover advantage of redeeming investors. This came in the backdrop of strong flow in the small and midcap schemes of mutual funds over the last few quarters. In a communication to Association of Mutual Funds in India (AMFI) on Tuesday, Sebi asked the industry body to inform trustees of all the mutual fund houses to frame a policy to protect the interest of investors of smallcap and midcap schemes. "In the context of the froth building up in the small and mid-cap segments of the market and the continuing flows in the small and mid-cap schemes of mutual funds, trustees, in consultation with unitholder protection
Both the fittings business and the new product line of stainless and titanium welded tubes will be high-teens margin businesses, as per the company
Fund houses asked to consider placing caps on investment, prevent first mover advantage