Monday, August 24
Mumbai: Investors eyeing a contrarian bet in large caps with high margin of safety can consider the Nifty Next 50 Index fund. Wealth managers believe its recent underperformance vis a vis the broader Nifty 50, lower overlap with active funds, reasonable valuations and exposure to some high growth sectors make this a good diversifier for investors who prefer indexing. Over the past one year, the Nifty Next 50 has lost 2.27% compared to the Nifty 50 that gained 9.6%. However, over a 3-year period, the Nifty 50 returned 13.4% compared to the Nifty Next 50 that returned 17.1%. "Active funds tracking broader indices also provide low exposure to Nifty Next 50 stocks. Max commonality with Nifty Next 50 is 18% by any Large cap fund and 18% by any Flexi cap fund," says Anil Ghelani, head - Passive
Mumbai: Shriram Finance extended its record-breaking run on the bourses as analysts raised their price targets on the stock by 16%-36% after the lender announced Japan's MUFG Bank will buy a 20% stake in the company. The stock rose 3.7% to close at an all-time high of ₹935.10 on Friday. The new price targets, broadly in the range of ₹1,050 to ₹1,200, point to upsides of 12% to 28% "MUFG's investment in Shriram Finance is positive for the NBFC in our view, as it is book accretive," said Vishal Narnolia, assistant vice president of research at ICICI Securities. The brokerage increased its 12-month price target on the stock from ₹880 to ₹1,200. Shriram shares have risen 52% since October 1 on expectations of the deal. 126131328 Shrikant Chouhan, head of equity research, Kotak Secur
Washington - Thousands of new documents linked to the case of convicted sex offender Jeffrey Epstein were made available Tuesday by the US Department of Justice (DOJ), amid mounting criticism over the pace of the publication and heavy redactions.At least 8,000 files were posted online, including hundreds of videos or audio recordings, notably surveillance footage from August 2019, the month Epstein was found dead in his jail cell while awaiting trial on sex trafficking charges.The DOJ posted around 11,000 links to new documents online, but some of them appeared to lead nowhere.The Epstein Files Transparency Act (EFTA), passed nearly unanimously by Congress and signed by President Donald Trump, mandated the complete release of the Epstein files by Friday of last week.Deputy Attorney General
