News for Axis NIFTY ETF (AXISNIFTY.NS)

On June 29, the Nifty 50 opened at 15,701.70 points and Sensex opened at 52,623.15 points. Nifty 50 was down by 0.55% up, while Sensex fell by 0.59%, till 10.09 am. Nifty PSU Bank stood at 2,458.65 points, falling by 1.00%, however, Nifty energy stood at 24,511.90 points gaining 0.14%, and Nifty pharma at 12,136.00 points falling by 0.64%.

Fund manager Deepak Agrawal, who joined Axis AMC as equity research analyst in 2015, has been sacked with immediate effect; chief trader Viresh Joshi was sacked on Thursday.

Deepak Agarwal was an equity research analyst and assistant fund manager of Axis Consumption ETF, Axis Quant Fund and Axis Value Fund

The seventh-largest fund house in terms of assets under management had earlier suspended chief trader Viresh Joshi and assistant fund manager Deepak Agrawal.

Read more about Axis AMC sacks chief dealer Viresh Joshi facing font-running investigation on Business Standard. Since the front-running charges have emerged in Viresh Joshi's case, Axis Mutual Fund had to rejig fund management of seven schemes

Viresh Joshi spent over a decade at the fund house and was also in the role of fund manager.

Action taken by AMC against two fund managers, including chief dealer, handling certain equity schemes

Read more about Markets regulator Sebi probes Schroders' $32 bn India partner Axis AMC on Business Standard. Indian equity mutual funds have lured billions of dollars in inflows over the last couple of years amid a retail-investing boom

Chandresh Nigam, MD & CEO, Axis Mutual Fund, said that Axis Mutual Fund will continue to maintain the highest governance standards, stringent protocols in their fund management.

Chief trader and fund manager Viresh Joshi and assistant fund manager Deepak Agarwal have been replaced in seven schemes of the fund house, amid allegations of front-running and making illegal gains. The Securities and Exchange Board of India (Sebi) is said to be examining the matter of potential irregularities in the fund house.