News for DSP BlackRock Mutual Fund (DACE2RG.BO)

JioBlackRock, a joint venture between Mukesh Ambani's Jio Financial Services and BlackRock, is set to launch its mutual fund business in India. The company has received approval from Sebi. Sid Swaminathan of BlackRock has been appointed as managing director and chief executive. This marks BlackRock's re-entry into the Indian market after exiting in 2018.

SEBI approves Jio Financial and BlackRock to set up mutual fund, aiming to provide innovative investment solutions in India.

A foreign portfolio investor of PNB Housing Finance Ltd. sold stakes worth Rs 1,004 crore through open market transactions on Thursday. The buyers include the Government Of Singapore and the Monetary Authority Of Singapore, Aditya Birla Sunlife Mutual Fund, ICICI Prudentual Life Insurance Company Ltd., DSP Blackrock Mutual Fund and HSBC Mutual Fund.

Months after setting up the asset management joint venture, Jio Financial Services and BlackRock Group have entered into 50:50 JV for wealth management and broking businesses.

Jio Financial Services and BlackRock Management file for mutual fund JV with SEBI, investing $150 million each. SEBI considering "in-principle approval" as of Dec 31, 2023.

US-based investment firm Bain Capital sold a 2.82% stake in L&T Finance Holdings Ltd for ₹910 crore, causing the company's shares to drop 3%. Other investors bought stakes in the block deal. L&T Finance reported a 102.6% increase in net profit for Q1 FY24.

Based on the open interest percentage, 54 stocks, including Cummins India, Dalmia Bharat, Vodafone Idea, IOC, and IRCTC, saw a short build-up on February 20.

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Interestingly, anchor investor Canada Pension Plan Investment Board has increased its stake from 1.5% to 1.71% in the last quarter.

Read more about Retail investors' shareholding in Paytm doubles, MFs buy more shares on Business Standard. Canada Pension Plan increases stake in digital payments company, as some other foreign funds leave.