AXY Financial News

financial services and insurance (BFSI) sector to line up a host of incentives, promotions and career progression plans to retain manpower, the frequent loss of which is posing a major challenge, said industry executives. The likes of Axis Bank, Motilal Oswal Financial Services and IIFL Finance are rolling out measures such as employee stock ownership plans (ESOPs) across the ranks, including the frontline workforce, internal career switch opportunities with promotions and salary increase, quarterly incentives, learning and upskilling opportunities, and festival bonuses, with an aim to create more career growth and earning opportunities at a time when poaching has become rampant. Motilal Oswal Financial Services has launched a new policy which focuses on aggressive and structured push for professional growth of employees with cross-functional role changes along with promotions. In this financial year, the company has planned about 600 such role movements or promotions as a retention tool, group chief human resources officer Niren Srivastava told ET.

Fincare Small Finance Bank has received market regulator Securities and Exchange Board of India's approval for its proposed initial public offer. The bank plans to raise up to Rs 625 crore by issue of equity shares of face value Rs 10. Fincare SFB applied for the IPO afresh in May. It initially filed draft papers last year but needed to refile the proposal with a fresh set of numbers as Sebi sought more information. The IPO also includes offer for sale (OFS) by promoters and other investors.

R Sivakumar, Head Fixed Income, Axis MF, says “what we are trying to do is to have more of a bias towards debt than to equity. This is therefore suitable for someone who is closer to retirement age than someone who is only in the savings part of your career and therefore, as you get older, you will need to de-risk your portfolio. The objective here is that while you get closer to your retirement, either you switch into this fund or increase your allocation into a fund like this which then reduces the risk of your portfolio as you get closer to retirement. ”I really want to understand the entire concept of having separate retirement-based mutual funds. How different are these funds from a regular mutual fund that your AMC has to offer?It is a very good question to understand what makes this fund different from others. To be honest, the investments that we make are largely the same kind of instruments – equities, fixed income and therefore one might think that it is just another mutual fund. The important thing is two parts. One, from an investor perspective, these funds come in with specific features. In our case, for example, a minimum five years holding period. Money is locked in for five years at the minimum or until the age of 58.

Also Read: Kundan Edifice share price debuts at 17.58% discount at ₹75 on NSE SME The book running lead managers for the Fincare Small Finance Bank IPO issue are ICICI Securities Limited, Axis Capital Limited, IIFL Securities Limited, SBI Capital Markets Limited, and Ambit Private Limited. Fincare Small Finance Bank said it plans to raise its Tier-I capital base with the net proceeds of the new Issue in order to satisfy its bank's future capital needs.

MUMBAI : After a year of costly extensions, MCX, India’s largest commodity derivatives exchange, is preparing to part ways with 63 Moons Technologies Ltd, its former anchor shareholder. The separation involves a crucial technology platform necessary for running its operations, including trading, clearing and settlements.

Mutual Fund Nominee Update Last Date: For all existing mutual fund unit holders, it is mandatory to nominate or opt out of nomination before September 30, 2023, failing which the folios shall be frozen for debits, according to the Securities and Exchange Board of India (SEBI).

₹113 to ₹119. Bids can be made for a minimum of 126 equity shares and in multiples of 126 equity shares thereafter. JSW Infra IPO's retail investors portion was subscribed 97%, NII portion was subscribed 27%, and Qualified Institutional Buyers (QIB) portion did not receive much response so far.

K.M.Sugar Mills(up 10.10%), Simbhaoli Sugars(up 8.33%), Uttam Sugar Mills(up 8.21%), Dwarikesh Sugar Industries(up 8.14%), Dhampur Sugar Mills(up 6.82%), Dalmia Bharat Sugar & Industries(up 6.57%), AVADHSUGAR(up 6.23%), MAGADHSUGAR(up 6.17%), Balrampur Chini Mills(up 6.12%) and Rana Sugars(up 6.09%) were among the top gainers. were among the top losers. The NSE Nifty50 index was trading 61.3 points down at 19612.95, while the 30-share BSE Sensex was down 202.8 points at 65806.35 at around 11:15AM. Bajaj Finance Ltd.(up 4.5%), Bajaj Finserv Ltd.(up 2.43%), Tata Consumer Products Ltd.(up 1.45%), Asian Paints Ltd.(up 1.18%), UPL Ltd.(up 0.96%), Maruti Suzuki India Ltd.(up 0.68%), Kotak Mahindra Bank Ltd.(up 0.63%), Titan Company Ltd.(up 0.62%), Grasim Industries Ltd.(up 0.62%) and UltraTech Cement Ltd.(up 0.6%) were among the top gainers in the Nifty pack. On the other hand, SBI Life Insurance Company Ltd.(down 1.74%), Infosys Ltd.(down 1.57%), Hero MotoCorp Ltd.(down 1.34%), Larsen & Toubro Ltd.(down 1.3%), Mahindra & Mahindra Ltd.(down 1.18%), Axis Bank Ltd.(down 1.14%), IndusInd Bank Ltd.(down 1.09%), HDFC Life Insurance Company Ltd.(down 1.08%), State Bank of India(down 1.06%) and Hindalco Industries Ltd.(down 1.06%) were trading in the red.

Umang Dairies(up 2.89%), Dangee Dums(up 2.39%), Vadilal Industries(up 1.36%), TATA CONSUMER PRODUCTS(up 1.21%), ADF Foods(up 1.04%), Marico(up 0.98%), Varun Beverages(up 0.87%), Emami(up 0.66%), Sheetal Cool Products(up 0.29%) and Bikaji Foods International(up 0.20%) were among the top gainers. Hindustan Foods(down 6.92%), Bajaj Consumer(down 2.56%), Zydus Wellness(down 1.39%), Tasty Bite Eatables(down 1.27%), Heritage Foods(down 1.11%), Nakoda Group(down 0.99%), Patanjali Foods(down 0.69%), Godrej Consumer Products(down 0.67%), Dodla Dairy(down 0.59%) and Hindustan Unilever(down 0.59%) were among the top losers. The NSE Nifty50 index was trading 55.35 points down at 19618.9, while the 30-share BSE Sensex was down 177.17 points at 65831.98 at around 11:20AM. Bajaj Finance Ltd.(up 4.38%), Bajaj Finserv Ltd.(up 2.58%), Asian Paints Ltd.(up 1.31%), Tata Consumer Products Ltd.(up 1.24%), UPL Ltd.(up 1.0%), Kotak Mahindra Bank Ltd.(up 0.65%), Titan Company Ltd.(up 0.65%), Maruti Suzuki India Ltd.(up 0.65%), Grasim Industries Ltd.(up 0.63%) and UltraTech Cement Ltd.(up 0.55%) were among the top gainers in the Nifty pack. On the other hand, SBI Life Insurance Company Ltd.(down 1.67%), Infosys Ltd.(down 1.51%), Hero MotoCorp Ltd.(down 1.38%), Larsen & Toubro Ltd.(down 1.24%), IndusInd Bank Ltd.(down 1.09%), Hindalco Industries Ltd.(down 1.07%), Mahindra & Mahindra Ltd.(down 1.07%), Axis Bank Ltd.(down 1.05%), State Bank of India(down 1.02%) and HDFC Life Insurance Company Ltd.(down 0.97%) were trading in the red.

₹113 to ₹119 per equity share of face value of ₹2 each. JSW Infra IPO raised ₹1,260 crore from anchor investors on Friday, September 22. JSW Infrastructure Limited IPO has reserved not less than 75% of the shares in the public issue for Qualified Institutional Buyers (QIB), not more than 15% for Non Institutional Investors (NII), and not more than 10% of the offer is reserved for Retail Investors.

₹418.50 apiece. Wipro is putting on a brave face. In an exclusive interview with Mint, Wipro’s chief executive officer Thierry Delaporte, who took charge in July 2020, said he is not perturbed by the top-level exits.

The price band for the IPO has been fixed at Rs 113-119 a share. JSW Infrastructure is the fastest growing port-related infra company in installed cargo handling capacity and cargo volumes handled during FY21-23, and the second largest domestic commercial port operator by cargo handling capacity in FY23. Ahead of the IPO, the company raised Rs 1,260 crore through the allotment of shares to anchor investors. The company has allotted 10,58,82,352 shares to anchor investors at Rs 119 apiece. About 11 mutual funds participated in the pre-IPO placement through a total of 28 schemes. SBI Mutual Fund, ICICI Prudential MF, HDFC Mutual Fund, Nippon India MF, Aditya Birla Sun Life MF, Sundaram MF, Franklin Templeton, UTI MF, Tata AMC, and Baroda BNP Paribas MF are the mutual funds that participated in the anchor placement of shares. Among foreign portfolio investors, the Government of Singapore was allotted 5.6% of the total anchor placement.

Technical Analysis who had introduced her to Maya, at their favourite coffee shop, her thoughts were still immersed in what she had learned earlier. Even the enticing aroma of freshly brewed coffee couldn't divert her mind from the world of stocks and charts. With genuine curiosity, she turned to Dev and asked, «Hey Dev, I've been working with stock charts and stumbled upon something called semi-log charts. I've never really understood what they are or when to use them.

Moneycontrol, the pharma company is in talks with four investment banks to prepare for a listing in 2024. In April this year, Akums' top executives had told Mint that they were working towards a stock market listing in two to three years. Joint managing director Sanjeev Jain at Akums told Mint in an interview, "We are planning an initial public offering (IPO) in a span of 2-3 years".

fall equinox arrived on Saturday in the Northern Hemisphere and with this, the fall season began. But, what does it mean?

Flipkart Big Billion Days Sale in 2023. According to the information on this webpage, when customers shop using certain ICICI Bank, Axis Bank, and Kotak Bank debit or credit cards, they can avail an immediate discount of up to 10 percent. Moreover, Paytm is also offering guaranteed savings on transactions made using Paytm, UPI, and wallets during the sale.

Apple's iPhone 15 range launched in India with eager customers queuing up outside official stores in Delhi and Mumbai. Rahul, the first customer at Apple Saket, arrived at 4 am to buy the iPhone 15 Pro Max, expressing excitement about being among the first to own it. Similarly, Vivek from Bangalore was thrilled to get his iPhone 15 Pro despite not being first in line.

PNB, Bank of Baroda, or even a small PSU Bank like UCO, Union Bank, or Indian Bank," says Rajesh Palviya, Axis Securities. Edited excerpts.What are the levels that you are looking out for because suddenly we are seeing declines across the board, not only in the midcaps, but also in the frontline index? We have seen significant supply pressure throughout the week, almost a 2.5% cut for the Nifty and now Nifty slipped below to 20-day moving average. Most of the Put writers have shifted their position on the lower side. So, Put writers have now shifted their position at 19,500, 19,400 strikes. That clearly shows that we can see more pressure in the coming trading session as call writers are now acting aggressively, aiding their position at 19,800 and 19,900 strikes. Those levels are likely to act as a major supply zone for any pullback action. Until Nifty does not cross above 19,900, there will not be any significant short-covering action in the market. Only major short covering will come above 19,900. Until we are trading below the 19,800 level, pressure is likely to remain in the system and possibly Nifty can go further down from the current level towards 19,600, 19,550 in the continuation of this down move.

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debit or credit card cannot be used for any online or offline transactions without first enabling the said option (card controls) in the bank's transaction control system through net banking, mobile app, or at the branch. «These changes (card controls) were designed to enhance the security of card transactions and give users more control over how their cards are used. Under the new guidelines, card users can now choose whether to opt in or out of payment modes such as international transactions, online purchases, and contactless payments, set spending limits for different types of transactions, and decide whether they want to allow their cards to be used for domestic or international transactions,» says Sajish Pillai, MD & Head — Assets and Strategic Alliances, Consumer Banking Group, DBS Bank India.

IPO market frenzy continues with three mainboard offers and as many as 13 SME issues opening for subscription in the next week, planning to raise a total of nearly Rs 4,000 crore. Last week, three mainboard issues Signature Global, Sai Silks and Manoj Vaibhav Gems Jewellers hit the markets to raise over Rs 2,200 crore from investors. The primary market remained unfazed even amid mixed global trends. A push provided by foreign institutional investors (FIIs), consistent corporate growth, and steady monsoon predictions are some of the factors that led to such buoyancy, said analysts. Here's a look at how the next week is poised.JSW Infrastructure JSW Infrastructure, through its IPO, is planning to raise Rs 2,800 crore and it is by far the biggest public offer in the month of September. It is also the first debut from the JSW Group in 13 years since the listing of JSW Energy in 2010. JSW Infrastructure is the fastest growing port-related infra company in terms of growth in installed cargo handling capacity and cargo volumes handled during FY21-23, and the second largest domestic commercial port operator by cargo handling capacity in FY23. The IPO, which will be run from September 25-27, is completely a fresh issue worth Rs 2,800 crore.