Fund houses are coming out with trendy new thematic funds, but they’re vaguely defined, overlap with large-cap holdings, and don’t always deliver on returns
HDFC Mutual Fund raised holdings in 412 stocks, including SBI and Vishal Mega Mart, while cutting stakes in 170 names like Infosys and Tech Mahindra. The fund also added three new stocks and exited 12 in June.
The shares of Glenmark Pharmaceuticals surged 20% on Friday, July 11, to a days high of Rs 2,286 following a landmark $2 billion licensing deal with U.S. pharma giant AbbVie for its cancer drug, ISB 2001.
The deal also entails $1.23 billion in milestone payments. While Glenmark unit IGI will retain rights for India and emerging markets, AbbVie will develop and market ISB 2001 in North America, Europe, Japan, and Greater China
India Business News: ICICI Prudential AMC has filed for a Rs 10,000 crore IPO with SEBI, offering 10% of its equity. The fund house, a joint venture between ICICI Bank and
Zee's largest foreign investor Norges has backed the resolution. Proxy firm SES, which had earlier asked shareholders to reject the resolution, also supports it, improving the odds. But two other domestic proxy advisors, IiAS and InGovern, remain opposed.
Three proxy advisory firms have recommended against a key proposal that could significantly increase the shareholding of Zee’s promoters, who have been outvoted by minority shareholders whenever there has been a difference of opinion.
HDFC Mutual Fund on Friday bought shares of auto components supplier Sundram Fasteners for Rs 137 crore through an open market transaction.
According to the bulk deal data on the BSE, HDFC Mutual Fund purchased 13.70 lakh shares or 0.
Marquee foreign institutions like Morgan Stanley and Citigroup were among the buyers of Delhivery Ltd. shares on Thursday after a prominent public shareholder reduced its stake.
India Business News: Delhivery witnessed significant investor activity as global and Indian entities, including Morgan Stanley and HDFC Mutual Fund, acquired a 1.6% stake
Morgan Stanley, Citigroup Global Markets Singapore and six other entities on Thursday bought a 1.6 per cent stake in logistics solution provider Delhivery for Rs 461 crore through open market transactions.