Wednesday, September 30
Radhika Gupta, MD & CEO of Edelweiss Mutual Fund, used her social media platform X (formerly Twitter) to question the common practice of judging mutual fund performance based on 1-year returns. She argued that this short-term focus fosters unrealistic expectations and promotes a constant chase for the next top-performing fund."Incidentally, one thing direct platforms and media and our entire ecosystem can do to create better investors, longer holding periods, and a better shot at wealth creation... is stop the obsession with showing last 1-year returns. This statistic is very influential and not in a good way. It creates unrealistic expectations of returns and a perennial pointless search for the best performing fund."Link: https://x.com/iRadhikaGupta/status/1937720600123830713In her t
Shares of Reliance Infrastructure surged 5% on Wednesday following an announcement by its subsidiary Reliance Defence that it secured a Rs 600-crore export order from German defence giant Rheinmetall Waffe Munition GmbH.The order, one of the largest in the high-tech ammunition space to date, has significantly boosted market sentiment around the Anil Ambani-led firm.In an exchange filing, Reliance Infra said the deal marks a key milestone in its strategy to deepen global defence partnerships and expand its role in the international arms supply chain.The company emphasized that this export contract underlines its recently formalized strategic collaboration with Rheinmetall — a partnership aligned with India’s “Atmanirbhar Bharat” and “Make in India” missions.Reliance Defence aims
Mumbai: Benchmark Nifty has been caught in a classic bull-versus-bear tussle in the derivatives market over the past few sessions. The index made attempts to climb above a key hurdle of 25,200 of late, but persistent call option writers-traders who bet on an index or a stock staying below a certain level-are holding their ground. This has made it tougher for Nifty to maintain any bullish momentum.On Tuesday, the Nifty rose as much as over 1% to 25,317.7 - the highest intraday level of 2025 so far - before the rally fizzled out and the index ended at 25,044."The market continues to witness a tug-of-war between the bulls and bears, with the Nifty struggling to sustain above 25,200, despite briefly crossing it on Tuesday," said Sudeep Shah, head - technical and derivative research, SBI Securi
ET Intelligence Group: Sambhv Steel Tubes plans to raise ₹400 crore through fresh equity to repay debt and ₹100 crore through an OFS. The promoter group's stake will dilute to 56% after listing from 71.9%. Its backward integration and diverse product applications give a competitive edge. Yet, execution remains critical. Investors having a high risk appetite, and comfortable with cyclical sectors and a medium- to long-term outlook may consider the IPO.BusinessSambhv makes electric resistance welded (ERW) steel pipes and structural tubes, with an installed capacity at Chhattisgarh growing to 1.7 million metric tonnes per annum (MMTPA) in March 2025 from 1.1 (MMTPA) in March 2024. It will install 1.2 MMTPA in 3 phases with phase I due by FY27. This aligns with an industry outlook, as dome
State Bank of India (SBI), the most valued government asset, is in advanced stages of appointing multiple merchant banks to raise up to Rs 25,000 crore via a qualified institutional placement (QIP), its first share sale in eight years, as the lender with a fifth share in the nation’s outstanding bank credit boosts common equity tier 1 (CET-1) capital.SBI’s CET-1 was 11% at the end of March 2025. This ratio, experts said, was among the lowest for government lenders.Kotak Mahindra Capital Co, ICICI Securities Ltd, HSBC Securities and Capital Markets (India) Pvt Ltd, Citigroup Global Markets India Pvt Ltd, Morgan Stanley India Co Pvt Ltd and SBI Capital Markets Ltd are among banks that have been finalised to manage the fundraising, people familiar with the information said.“The banks ha
India attracted $8.8 billion in foreign direct investment (FDI) in April, which was 22% higher than the gross inflows in the year-ago month, helping the Reserve Bank of India rebuild the country's foreign exchange reserves amid pressure to protect the rupee from excess volatility.However, the inflows in non-resident deposits slowed, with banks collectively seeing $751 million in the first month of the fiscal year compared with $1.078 billion a year ago, according to data published by the central bank in its June bulletin.Net external commercial borrowing by Indian companies rose to $2.8 billion in April from $0.5 billion a year ago."Overall, India’s external sector remains resilient as key external sector vulnerability indicators continue to improve. We remain confident of meeting our ex
Mumbai: The National Stock Exchange (NSE) has filed two applications with the Securities and Exchange Board of India (Sebi) to settle the long-standing co-location and dark fibre cases by offering to pay a total ₹1,388 crore, making it the highest amount offered by any entity till date. If approved by the regulator, this will pave the way for the initial public offering by the country's largest stock exchange that's faced repeated delays due to regulatory and legal hurdles. NSE had renewed its push to go public after Tuhin Kanta Pandey took over as the Sebi chairman in February. NSE has offered to pay ₹1,165 crore to settle the co-location case and ₹223 crore for the dark fibre matter, according to documents reviewed by ET. "The case can be settled as the people who had done the viol
Mumbai: India's equity indices ended with marginal gains on Tuesday, after advancing over 1% earlier in the day, as investors kept a close watch on the fast-changing dynamics in the Middle East.Tensions reignited in the region after Iran launched missiles at northern Israel, just hours after a US-brokered ceasefire was meant to take effect. In response, Israel vowed a forceful retaliation, accusing Tehran of violating the truce.The BSE Sensex ended 151.36 points higher, up 0.2%, at 82,055, while the NSE Nifty 50 went up 72.45 points, or 0.3%, to settle at 25,044. "The markets are expected to continue reacting sharply to developments emerging from the Iran-Israel conflict," said Umeshkumar Mehta, CIO, Samco Mutual Fund. "What we witnessed in the domestic market today was not an outlier. Suc
