AXY Financial News

Several Banks have recently increased their Fixed Deposit interest rates for senior citizens and general customers this month. Read on for details.

₹2 crore. This comes after the Reserve Bank of India (RBI) decided to keep the repo rate unchanged at 6.5 per cent for the third time in a row. The decision to keep policy interest rate unchanged was announced by RBI Governor Shaktikanta Das on 10 August.

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MUMBAI : Amid expectations of heightened market turbulence in the wake of India’s surging retail price inflation and slowing merchandise exports, which impacts the rupee, FPIs have turned net sellers of Indian stock futures of a significant quantity in just four days, a rare occurrence, according to market experts, who see this as a move to hedge their profits against a falling market. From being cumulatively net long 19,130 stock futures contracts on 9 August, they turned net sellers of 83,366 contracts on 14 August, during which period the Nifty shed a percent or 198 points through Monday’s closing of 19435.55.

MUMBAI : Amid expectations of heightened market turbulence in the wake of India’s surging retail price inflation and slowing merchandise exports, which impacts the rupee, FPIs have turned net sellers of Indian stock futures of a significant quantity in just four days, a rare occurrence, according to market experts, who see this as a move to hedge their profits against a falling market. From being cumulatively net long 19,130 stock futures contracts on 9 August, they turned net sellers of 83,366 contracts on 14 August, during which period the Nifty shed a percent or 198 points through Monday’s closing of 19435.55.

₹880 crore IPO was subscribed 2.78 times, with bids received for a total of 6.99 crore shares against 2.51 crore on offer, according to data from the stock exchanges. The IPO’s institutional quota was subscribed 1.35 times, while non-institutional investors’ portion was subscribed 2.35 times, suggesting that the primary market may be headed for brisk business. “IPOs priced over last 1-2 quarters has seen strong participation from all categories - domestic & foreign institutional and retail investors.

The retail category was subscribed the most at 6.02 times, followed by non-institutional investors at 1.72. The part reserved for qualified institutional buyers was subscribed just 47% on Day 3. According to market sources, the company's shares are commanding a premium of Rs 3 in the unlisted market.

How to get good returns from your investments without working too hard for them? Let me start with a question: why does anyone invest? You may say, to get good returns on the capital. Well, of course. So, how should one invest to get good returns?This question may attract a lot of varied responses: invest in stocks, trade derivatives, invest in the top-performing asset class at the moment, and so on and so forth. What if I told you that getting good returns has nothing to do with any of these?If you have started to roll your eyes in disbelief, this quote from Late Paul Samuleson, a Nobel Prize laureate and an American economist, may be an eye-opener: “Investing should be more like watching paint dry or watching grass grow.

Axis Asset Management, the mutual fund arm of private sector lender Axis Bank Ltd, has launched a private credit alternative investment fund (AIF) and is aiming to raise as much as Rs 1,250 crore from investors, said people aware of the development. The private credit fund is part of Axis Mutual Fund’s alternative assets business, which comprises late-stage private equity and real estate AIFs on the private markets side, and portfolio management services and long-only equity AIFs on the public markets side.

TVS Supply Chain IPO: The initial public offering (IPO) of TVS Supply Chain Solutions Limited opened for bidders on 10th August 2023 and it will remain open for bidding till 14th August 2023. This means, TVS Supply Chain IPO subscription is going to end today. After two days of bidding, the public issue worth ₹880 crore has sailed through as the issue has been fully subscribed despite weak stock market sentiments on Dalal Street.

MUMBAI : In a strategic shift, Citi India sold its retail business to Axis Bank and is now focussed on its institutional business and global capability centres (GCCs). By the end of this year, the bank’s GCCs that go beyond just being a back office to its global operations will employ around 30,000 people. In an interview, Citi India chief executive officer Ashu Khullar emphasized that while India is not the only option to counter the world’s dependence on China, it is a credible option, and the bank is seeing growing interest among clients to invest.

MUMBAI : Top mutual fund houses were active on the RBL stock counter last month, coinciding with auto major M&M’s ₹417 crore investment for a 3.53% stake in the Mumbai-based lender, which was greeted with surprise by the market. Axis MF made a new entry into RBL stock counter while Aditya Birla Sun Life MF, which held 1.32% of its equity as of June quarter, added more, shows data from brokerage Nuvama. Interestingly, Nippon India MF, which held the highest stake among peers of 3.09%, cut its stake in RBL.

The number of banks in the sample which reported a sequential increase in the loan loss provisioning for the June quarter increased to 14 from 10 in the previous quarter. The sequential jump in the NPA provisioning was driven by the PSBs including State Bank of India and Bank of Baroda, and private sector banks such as Axis Bank and Kotak Mahindra Bank. Each of these banks reported more than two-fold increase sequentially in their respective NPA provisioning for the June quarter.

₹400 crore and an offer-for-sale (OFS) of 1.3 crore equity shares by promoters, promoter group members, and existing shareholders. Under the OFS, two investor shareholders -- India Advantage Fund S4 I and Dynamic India Fund S4 US1 -- will be offloading shares, apart from promoters. The proceeds of the initial public offering will be used to fund capital expenditure for setting up of manufacturing facilities, payment of loans, and general corporate purposes.

“The index is currently trending up, forming a series of higher tops and bottoms, which indicates a sustained uptrend. As a result, any short-term price corrections should be viewed as buying opportunities,” Axis Securities said in its report. The overall market conditions suggest a favorable outlook for investors, with potential for further upward movement in benchmark indices, the brokerage said.

Golden Crossover is, its significance in assessing stock movements, and explore ten stocks that have recently witnessed this auspicious pattern. As the market evolves, understanding such patterns can provide investors with valuable insights for their decision-making process. The Golden Crossover is a technical pattern that occurs when a shorter-term moving average crosses above a longer-term moving average.

IPO subscription status: TVS Supply Chain IPO was subscribed 1.03 on day 2. TVS Supply Chain IPO opened on Thursday, August 10 and will close on Monday, August 14. TVS Supply Chain IPO continued to receive positive response from retail investors on day 2.

Life Insurance Company Ltd. (Max Life) has launched the ‘NIFTY Smallcap Quality Index Fund’ in the ULIP segment. This first Smallcap Index Fund of the Life Insurance industry is based on the NIFTY Smallcap 250 Quality 50 Index that has delivered a 22% 10-year CAGR + "We are launching our first-ever Smallcap Index Fund to offer investors a low-cost value proposition.

₹1,612 crores. With this, Axis Group will collectively hold 19.02%. Analysts from Motilal Oswal Financial Services point out that with the stake increase, a key concern for the stock was addressed and will support Max Life’s solvency ratio which stood at 188% in the June quarter (Q1FY24).

«Whatever outcome of the SEBI-SAT would come in, it would not have any kind of an impact in terms of the NCLT order or for the merger to go through,» says Karan Taurani, Elara Securities.The objections from creditors like Axis Finance, JC Flower, Asset Reconstruction and IDBI Bank, IMAX and IDBI trusteeship about this entire merger. Now those have been summarily dismissed by the NCLT. How do you view it? I think this is a big positive.

IPO subscription status: TVS Supply Chain IPO was subscribed 55% on day 1. TVS Supply Chain IPO opened today (Thursday, August 10) and will close on Monday, August 14. TVS Supply Chain IPO received positive response from retail investors.