Thursday, September 24
Shares of asset management companies (AMCs) such as HDFC AMC, Aditya Birla Sun Life AMC, Nippon Life India AMC, and others rose up to 3.5% on Tuesday after the Securities and Exchange Board of India (Sebi) proposed easing regulations related to mutual fund (MF) business operations.HDFC Asset Management Company shares rose as much as 3.3% to touch a high of Rs 5,162.30 during the session. Nippon Life India Asset Management also saw strong buying interest, climbing 3.2% to hit Rs 804.95. Aditya Birla Sun Life AMC advanced 3.15% to reach a day’s high of Rs 837.65, while UTI Asset Management gained 1.4%, hitting an intraday peak of Rs 1,327.95.In a circular issued on Monday, Sebi proposed relaxing the broad-basing requirement under Regulation 24(b) of the MF Regulations. This would allow AMC
Banking, postal and other services are likely to face disruption on Wednesday as more than 25 crore workers affiliated with central and sectoral trade unions have announced to go on strike across the country to protest against new labour codes and privatisation, and press for demands such as minimum wage of Rs 26,000 and old pension scheme, according to union leaders. The general strike is expected to disrupt services in sectors like banking, insurance, postal, coal mining, highway and construction, a trade union official said. The Central Trade Unions such as CITU, INTUC and AITUC are pressing for doing away with the four labour codes, contractualisation, and privatisation of PSUs, increasing minimum wages to Rs 26,000 per month, as well as the demands of farmer organisations for Minimum
