Business

04 Apr

Kotak MF launches Energy Opportunities Fund Open for Public Subscription

MFNewsBreaking News, Business, Mutual Funds, Shares, Technology

NFO will be open for public subscription from April 3, 2025, to April 17, 2025 #KotakMFEnergyOpportunitiesNFO Chandigarh: Kotak Mutual Fund has launched the Kotak Energy Opportunities Fund, an open-ended equity scheme focused on the energy sector. The new fund offer (NFO) will be open for public subscription from April 3, 2025, to April 17, 2025. India's energy sector is projected to expand significantly over the next decade. Rising demand from industries such as electric vehicles, data centers, and urbanisation is driving this growth. India is also contributing to global energy research, including its role in France’s ITER nuclear fusion project.…

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04 Apr

Groww MFund launches Nifty 500 Momentum 50 ETF, NFO is open from April 3 to April 17

MFNewsBreaking News, Business, Mutual Funds

#GrowwMFundNFO Chandigarh: Groww Mutual Fund has launched the Groww Nifty 500 Momentum 50 ETF, an open-ended exchange-traded fund (ETF) designed to track the Nifty 500 Momentum 50 Index. The New Fund Offer (NFO) is open for subscription from April 3 to April 17, 2025. The Nifty 500 Momentum 50 Index selects 50 stocks from the Nifty 500 based on their momentum score. This score is calculated using 6-month and 12-month price returns, adjusted for volatility. The index is rebalanced semi-annually to reflect changing market conditions and capture stocks with the strongest price momentum. Momentum investing follows the principle of buying stocks…

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04 Apr

Now No Need of A cheque leaf for EPFO Fund, EPFO removes two more claim settlement requirements

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#EPFORemovesRequirements New Delhi: The Employees Provident Fund Organisation (EPFO) has further simplified the claim settlement process here on Thursday (April 3, 2025) by removing the requirement of uploading an image of a cheque leaf or attested bank passbook while filing online claims. The requirement of employer approval for seeding bank account details with the Universal Account Number (UAN) has also been removed. Announcing the decision, Union Labour Minister Mansukh Mandaviya said these measures will significantly streamline the process of claim settlement and reduce grievances related to claim rejections. ​ The Union Labour Ministry said in a statement that by removing…

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04 Apr

NUVOCO Vistas gets NCLT’s nod to acquire Vadraj Cement Ltd. for INR 1,800 Crores

MFNewsBusiness, Shares, Stocks

#NUVOCOVistasNCLTVadrajCement The acquisition will be made with an upfront payment of ₹1,800 crores as per the Resolution Plan Nuvoco’s installed cement capacity would increase by over 20% with consolidated capacity reaching approx. 31 MMTPA, cementing Nuvoco’s position as the fifth-largest cement group in India The transaction remains a strategic ‘value-buy’ delivering substantial growth at one of the lowest costs per ton in recent times, with approximately $60 - $65 Mumbai: The Hon’ble National Company Law Tribunal (NCLT), Mumbai Bench, has issued an order approving the Resolution Plan submitted by Nuvoco Vistas Corp. Limited for the acquisition of Vadraj Cement Limited…

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03 Apr

India Post Partners with Nippon India Mutual Fund to Enhance KYC Verification Services

MFNewsBreaking News, Business, Mutual Funds, Technology

#IndiaPostNipponIndiaMFKYC  New Delhi: In a significant move to facilitate the Mutual Fund industry's customer onboarding process, Department of Posts (DoP) has signed a Memorandum of Understanding (MoU) with Nippon India Mutual Fund to provide door-to-door KYC verification services for their investors. This partnership aims to streamline the KYC process, ensuring convenience, security, and compliance for investors across India. The MoU (Memorandum of Understanding) was signed between Ms. Manisha Bansal Badal, General Manager, Business Development Directorate, Department of Post, and Mr. Sundeep Sikka Executive Director & Chief Executive Officer Nippon Life India Asset Management Ltd. India Post’s unparalleled reach, with a…

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03 Apr

GTA Home Sales Drop 23% in March as Listings Surge, Prices Also dropping

MFNewsBusiness, Insurance, Opinions, Travel

5,011 homes were sold last month, a significant decrease from the 6,519 transactions recorded in March 2024 Toronto: Home sales in the Greater Toronto Area (GTA) saw a sharp decline in March, dropping 23.1% compared to the same period last year, as an influx of new listings helped ease market pressures. According to the Toronto Regional Real Estate Board (TRREB), 5,011 homes were sold last month, a significant decrease from the 6,519 transactions recorded in March 2024. On a seasonally adjusted basis, sales also slipped 2.4% from February. Meanwhile, sellers entered the market in greater numbers, with 17,263 new listings…

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03 Apr

Best-ever Q1: 3,914 BMW and MINI cars sold, clocking +7% growth.

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Highest-ever monthly sales in January, February and March. Most preferred luxury EV brand for last 3 years: BMW maintains its top position in Q1, growing exponentially by over 200%. Gurugram: Beginning 2025 with a strong start, BMW Group India has delivered its best-ever Q1 car deliveries with +7% growth. The company delivered 3,914 cars (BMW and MINI) and 1,373 motorcycles (BMW Motorrad) between January – March 2025. BMW sold 3,764 units and MINI 150 units. Monthly sales in each month - January, February and March - also recorded their peak. Mr. Vikram Pawah, President and CEO, BMW Group India said,…

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03 Apr

Profit Booking: Mutual funds sold equities worth over Rs 16,000 crore in last six sessions

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#ProfitBookingMFoffloaded equities Mumbai: Between March 20 and 28, mutual funds offloaded equities worth over Rs16,000 crore, which analysts attribute to profit booking following recent gains. Mutual funds have been net sellers in Indian equities over the past six sessions, as they capitalized on the recent market rally to book profits, experts said. Between March 20 and 28, mutual funds offloaded equities worth over Rs 16,000 crore, which analysts attribute to profit booking following recent gains. In contrast, they were net buyers earlier in the month, purchasing over Rs22,900 crore worth of equities between March 1 and 19. In March, benchmark…

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03 Apr

Reliance breaks ground on first of 500 CBG plants in Andhra Pradesh, investing Rs. 65,000

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Plans to invest Rs. 65,000 crores in developing integrated CBG hubs in AP Kanigiri (Andhra Pradesh): Andhra Pradesh IT & Electronics Minister, Chairman of the Group of Ministers on Job Creation Mr. Nara Lokesh laid the foundation stone of the first Reliance Compressed Bio-Gas (CBG) plant at Kanigiri in Prakasam district in Andhra Pradesh, today. The project is being developed with a capital investment of Rs. 139 crores and is the first in a series of 500 projects involving a total capital outlay of Rs. 65,000 crores for AP. The plant will be developed with innovative technology and utilise Napier…

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03 Apr

Tarriff War: Donald Trump announces 26% ‘discounted reciprocal tariff’ on India

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#TrumpreciprocaltariffIndia U.S. President held up a chart that indicated that India charged 56% tariffs “including currency manipulation and trade barriers” White House, USA: U.S. President Donald Trump on Wednesday (April 2, 2025) listed the high tariffs charged by India on American products as he announced reciprocal tariffs on countries across the board, declaring a 26% “discounted reciprocal tariff” on India. “This is Liberation Day, a long-awaited moment. 2nd April 2025 will forever be remembered as the day American industry was reborn, the day America’s destiny was reclaimed, and the day that we began to make America wealthy again. We are going…

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