RELEASE OF FUNDS
![NFO Watch: Mirae Asset Mutual Fund launches Nifty200 Alpha 30 ETF Fund of Fund](https://img.etimg.com/thumb/msid-111520118,width-100,height-75,resizemode-4/mf/mf-news/nfo-watch-mirae-asset-mutual-fund-launches-nifty200-alpha-30-etf-fund-of-fund.jpg)
NFO Watch: Mirae Asset Mutual Fund launches Nifty200 Alpha 30 ETF Fund of Fund
The new fund offer (NFO) will open for subscription on July 8th and will close on July 22nd. Investors can begin continuous sale and repurchase of the fund starting July 29th.
![AMFI releases new stock categorization, cut-offs for largecap hiked to Rs 84,000 crore](https://img.etimg.com/thumb/msid-111505761,width-100,height-75,resizemode-4/mf/mf-news/amfi-releases-new-stock-categorization-cut-offs-for-largecap-hiked-to-rs-84000-crore.jpg)
AMFI releases new stock categorization, cut-offs for largecap hiked to Rs 84,000 crore
AMFI updated market cap categories: large cap threshold at Rs 84,300 crore, mid cap at Rs 27,600 crore, effective till January 2025. Stocks moving: Hero Motocorp to large cap, SRF to mid cap. Small caps increased, including SRM Contractors. Aligned with Nuvama predictions; affects fund visibility, manager decisions, and reclassification, with limited immediate flow impacts.
![Motilal Oswal Nifty India Defence Index Fund raises Rs 1,676 crore in NFO period](https://img.etimg.com/thumb/msid-111494072,width-100,height-75,resizemode-4/markets/stocks/news/motilal-oswal-nifty-india-defence-index-fund-raises-rs-1676-crore-in-nfo-period.jpg)
Motilal Oswal Nifty India Defence Index Fund raises Rs 1,676 crore in NFO period
A new defense-themed fund has concluded its initial offering (NFO) with record-breaking success, marking the highest collection ever for an equity index fund. Units were allocated to investors on July 3rd, and the fund will reopen for further subscriptions and redemptions on July 9.
![Quant Mutual Fund raises bet on HDFC Bank shares, top holding in most schemes](https://img.etimg.com/thumb/msid-111453902,width-100,height-75,resizemode-4/mf/analysis/quant-mutual-fund-raises-bet-on-hdfc-bank-shares-top-holding-in-most-schemes.jpg)
Quant Mutual Fund raises bet on HDFC Bank shares, top holding in most schemes
Geojit Financial Services' Dr. V K Vijayakumar anticipates HDFC Bank's augmented Nifty weight to fuel additional delivery based buying, boosting the stock under active funds' support.
![Aditya Birla Sun Life Quant Fund NFO collects over Rs 2,400 crore](https://img.etimg.com/thumb/msid-111453576,width-100,height-75,resizemode-4/mf/mf-news/aditya-birla-sun-life-quant-fund-nfo-collects-over-rs-2400-crore.jpg)
Aditya Birla Sun Life Quant Fund NFO collects over Rs 2,400 crore
Aditya Birla Sun Life Quant Fund's NFO raised Rs 2,416 crore, attracting 1,23,762 investors. It's an open-ended equity scheme based on Quant themes. NFO ran from June 10-24, with allotment on June 28 and reopening for subscription on July 1.
![Kotak Bank created fund used to bet against Adani: Hindenburg](https://img.etimg.com/thumb/msid-111444726,width-100,height-75,resizemode-4/markets/stocks/news/kotak-bank-created-fund-used-to-bet-against-adani-hindenburg.jpg)
Kotak Bank created fund used to bet against Adani: Hindenburg
Kotak Mahindra Bank managed funds for Adani stock trades, leading to significant profits. Despite ET queries, the bank mentioned transactions were made on a principal basis. Kingdon transferred funds for short positions on Adani stocks, resulting in gains after positions were squared off.
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Karnataka releases draft gig workers Bill; seeks comments from platforms, other stakeholders
Karnataka introduced draft Bill for app-based platforms to provide social security benefits to gig workers and sought public feedback. The Bill proposes fee on transactions and penalties for non-compliance. It aims to protect workers' rights and ensure basic social security. It is inspired by Rajasthan law and includes grievance redressal mechanism and prevention of illegal termination. the Bill promises welfare board, fund for gig workers. Discussions have been held with major platforms and International Labour Organisation for input.
EU releases Euro 1.9 billion for Ukraine, days after launch of accession talks
The European Union on Thursday disbursed Euro 1.9 billion to Ukraine amid its ongoing conflict with Russia. The funds, provided under the Ukraine Facility, are intended to support the Ukrainian state during this challenging time. European Union President Ursula von der Leyen stated the purpose of the funds.
Mutual Fund Magic: Rs 10,000 monthly SIP investors are dollar millionaires in less than 3 decades
HDFC Top 100 Fund, a large-cap focused equity scheme, celebrates over 27 years of consistent performance, delivering an impressive 19% compound annual growth rate (CAGR) throughout its tenure.
Pune Porsche accident: Why Bombay HC released the accused minor who killed two techies?
The Bombay High Court has released the juvenile accused in the Pune Porsche crash into his aunt's custody, continuing his psychological sessions. The 17-year-old's drive on May 19 killed two engineers, causing national outrage. Despite bail, his parents and grandfather were arrested for an attempted cover-up. Maharashtra CM Eknath Shinde promised strict actions and support for the victims' families.
How many days will Quant Mutual Fund require to liquidate 50% of its small and midcap portfolio? Check stress test result
According to the stress test results from the Quant Mutual Fund, the trailing 12-month PE ratio for the midcap fund benchmark has risen above its levels from one year ago and two years ago. For the smallcap index, the trailing 12-month PE ratio is higher than it was one year ago and close to its level from two years ago.
Equirus announces Sahil Shah as new CIO & fund manager of their Long Horizon Fund
Equirus today announced the appointment of Sahil Shah as the new fund manager of Equirus Long Horizon Fund (ELHF) and their Chief Investment Officer (CIO).
Nippon India Mutual Fund changes fundamental attributes of multi-asset fund. What should you do?
Currently, it is an open-ended scheme that invests in equity, debt, exchange-traded commodity derivatives, and Gold ETFs. After the changes, it will expand to include Silver ETFs as well, becoming an open-ended scheme that invests in equity, debt, exchange-traded commodity derivatives, Gold ETFs, and Silver ETFs.
PM Modi to release Rs 20,000 crore of PM-Kisan Samman fund into 9.26 crore bank accounts of farmers today
Prime Minister Narendra Modi is set to release the 17th installment of the PM-KISAN scheme during his visit to Varanasi on Tuesday. More than 9.26 crore farmers will benefit from this, receiving over Rs 20,000 crore. Additionally, the Prime Minister will distribute certificates to over 30,000 self-help groups trained as Krishi Sakhis. The event, organized by the Union Ministry of Agriculture and Farmers Welfare in coordination with the Uttar Pradesh government, aims to support farmers and raise awareness about agricultural practices.
Budget-day release for FAME-III; Indian VCs need to pivot
Measures to boost the sale of electric vehicles are likely to be announced in the upcoming budget. this and more on today’s ETtech Top 5.
First day in office: Arunachal CM Pema Khandu signs file approving release of funds to the tune of Rs 100 crore under CMSSS
Pema Khandu, the Chief Minister of Arunachal Pradesh, took oath for the third consecutive term in Itanagar. He approved Rs 100 crore under the CMSSS, benefiting 80000 beneficiaries. The oath ceremony was attended by several dignitaries including BJP leaders.
Baroda BNP Paribas Mutual Fund launches Baroda BNP Paribas Manufacturing Fund
Baroda BNP Paribas Mutual Fund has launched the Baroda BNP Paribas Manufacturing Fund, an equity scheme managed by Jitendra Sriram, offering growth opportunities with focused exposure to promising manufacturing companies.
Fund released for farmers was due month ago, PM Modi did no special favour to them: Congress
Congress criticizes PM Modi for delayed release of PM-Kisan Samman Nidhi fund, calling it farmers' legitimate entitlement. Demand for legal MSP, farm loan waiver to benefit farmers.
Fund released for farmers was due month ago, PM Modi did no special favour to them: Congress
Taking charge as prime minister in his third term, Modi on Monday signed his first file authorising the release of the 17th instalment of the PM-Kisan Samman Nidhi fund, amounting to nearly Rs 20,000 crore that will benefit around 9.3 crore farmers.
SaaS startup Testsigma raises $8.2 million led by MassMutual Ventures
Existing investors Accel, Strive and BoldCap also participated in the round, Testsigma said on Wednesday. The company had previously raised $4.6 million in 2022.
India's growth outlook: Economy to get a blockbuster release this Friday? But that's too late to stream in poll campaigns
GDP Q4: As the country buzzes with election excitement, India is set to release its GDP growth numbers for the fourth quarter of FY24 this Friday, alongside the full fiscal year figures. Analysts are eagerly awaiting to see if the January to March quarter numbers surpass expectations, fueling hopes of a surprising uptick in growth.
Centre has released Rs 3,454 cr for drought relief, says Siddaramaiah
Karnataka Chief Minister Siddaramaiah has said that the Central government has approved Rs 3,499 crore as drought relief, but only released Rs 3,454 crore. The state was supposed to receive Rs 18,171 crore, but the Central government has only approved Rs 3,498.98 crore. Siddaramaiah alleged that the Union government did not give the relief fund out of concern for Karnataka but was forced to release money after the state government approached the Supreme Court.
Smallcap mutual fund investors await release of 2nd round of stress test results
The market regulator has asked the MF houses to publish the stress test results on their respective websites by the 15th of every month. The main purpose of the stress test was to make mid and smallcap investors aware of the risks associated with and the impact of volatility on the portfolio.
SC issues notice to Delhi Jal Board on AAP govt plea alleging non-release of funds
The Supreme Court has issued a notice to the Delhi Jal Board (DJB) following a plea by the AAP government alleging non-release of funds to the body responsible for providing water to Delhi. The bench, led by Chief Justice D Y Chandrachud, directed the Delhi government's Principal Secretary (Finance) to release the funds owed to the DJB temporarily. They seek to understand the outstanding funds directly from the water utility.
Tamil Nadu approaches SC against Centre's 'step-motherly treatment'
The Tamil Nadu government has petitioned the Supreme Court for over ₹37,000 crore in relief funds for natural calamities caused by floods and Cyclone Michaung. The state argues that the Centre's delay in funds release is discriminatory and violates fundamental rights. The state has requested the release of ₹19,692.69 crore for Cyclone Michaung damage and ₹18,214.52 crore for heavy rainfall in Tamil Nadu's southern districts.
Siddaramaiah, Amit Shah spar over non-release of central funds for drought relief in Karnataka
Siddaramaiah and Amit Shah clash over drought relief funds delay in Karnataka. The Congress accuses BJP of betraying the state's development, while the BJP criticizes Congress for playing politics over relief proposals.
Electoral Bonds: Lifting veil on Megha, Vedanta, Future Gaming and Reliance-linked co's donations to BJP, TMC, Congress & others
The State Bank of India (SBI) has released the complete electoral bond data as per the Supreme Court's directives. The dataset contains unique alphanumeric numbers linking bond purchasers to the political parties redeeming them.
Karnataka moves SC seeking direction to Centre to release funds for drought management
Karnataka urges SC for urgent NDRF aid release due to severe drought impact on agriculture. State alleges Centre's illegal delay in providing Rs 18,171.44 crore relief despite significant losses, prompting legal action.
Karnataka approaches SC against Centre seeking release of NDRF grants to tackle drought
The petition was filed under Article 32 of the Indian Constitution to give directions to the Government of India to release NDR Funds immediately, which was supposed to be released by the Centre according to law, he explained.
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