Tuesday, September 08
In a significant move signalling a structured succession plan, Shapoorji Mistry has resigned as chairman of Afcons Infrastructure, the flagship company of the Shapoorji Pallonji Group, while his son, Pallon Mistry, has been appointed to the board, The Times of India reported on August 29.This transition marks a pivotal moment for the 160-year-old conglomerate, which has been navigating its leadership dynamics in recent years, the report (by Reeba Zachariah) said.Shapoorji Mistry, aged 61, has played a crucial role in shaping Afcons since its acquisition from ICICI Bank in 2000. Under his chairmanship, which spanned 13 years, Afcons transformed from a domestic player to a globally recognised infrastructure entity, boasting a market capitalisation exceeding Rs 15,500 crore.Although he steps
Gold and silver extended their gains as investors sought safe havens amid weakness in the dollar index. Gold October futures prices at MCX touched an intraday high of Rs 1,02,226/10 grams, while the silver September contracts were resilient, hitting their new all-time high in the domestic market today.Silver prices on MCX hit a peak of Rs 1,17,117/kg on Friday.Gold climbed to a 3-week high and silver to a 5-week high in global markets. In India, silver hit a lifetime peak, closing above Rs 1,17,000 for the first time.On Thursday, the precious metals settled on a positive note in the domestic market and on a slightly weaker note globally. Gold October futures contract ended at Rs 1,02,100 per 10 grams with a gain of 0.55% whereas the silver September futures contract settled at Rs 1,17,174
Inflows into equity mutual funds rose 81.06% month-on-month, climbing from Rs 23,568 crore in June to Rs 42,673 crore in July. On a year-on-year basis, inflows were up 15.08% from Rs 37,082 crore in July 2024. Notably, they have surged from an outflow of Rs 3,845 crore in July 2020 to an inflow of Rs 42,673 crore in July 2025.Also Read | Trump Tariff Turbulence: Should mutual fund investors rework their investment strategy?Market volatility notwithstanding, equity mutual funds continue to maintain their sheen, with retail investors steadily allocating money into these schemes to build long-term wealth. The net AUM (assets under management) of equity mutual funds surged 335.31% to Rs 33.32 lakh crore in July 2025, up from Rs 7.65 lakh crore in July 2020.“Inflows into equity mutual funds h
Shares of Yes Bank jumped 1% to their day’s high of Rs 18.92 on the BSE in early trade on Friday, August 29, following reports that Sumitomo Mitsui Banking Corp (SMBC), one of Japan’s largest financial institutions, is preparing an additional infusion of Rs 16,000 crore into the private lender, as per previous ET reports.The funding is expected to be a combination of debt and equity, aimed at strengthening Yes Bank’s balance sheet ahead of a potential ownership role for SMBC.This is in addition to the Rs 13,500 crore that SMBC has already committed to pay existing shareholders, including State Bank of India (SBI), to acquire a 20% stake in Yes Bank.According to the earlier ET reports, the fresh capital will comprise Rs 8,500 crore in low-cost, long-term yen-denominated bonds priced u
