The Securities and Exchange Board of India (Sebi) said fund houses should pay dividends to unitholders within seven days and the redemption amount should be given within three days.

The Nifty Pharma Index has grown at 9.52% annually since October 2012. For example, Rs.1,00,000 invested in the Nifty Pharma Index in 2012 would be worth Rs. 2,48,220 by the end of October 2022.

Sebi's latest decision follows the Franklin Templeton episode, in which the fund house's few executives were accused of redeeming their holdings in the schemes ahead of the six debt schemes shutting for redemption.

The industry body has also requested for various steps to be taken for the betterment of the mutual fund industry and investors and to deepen the equity market via mutual funds.

Whenever the stock market crosses a psychologically-significant mark, many investors, especially mutual fund investors, inevitably ask: Should we do something different? Sell or buy something?

The Scheme will be benchmarked against NIFTY 500 Multicap 50:25:25 TRI. The stock selection will be based on the “Fair Value” approach.

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The report by MOFS indicates that the slowdown in lumpsum investments has been on account of large HNIs waiting for a better entry point as the equity market is close to a new high, weakness in flows from lower-end customers in rural areas, and reduced NFO activity by large AMCs in the equity segment.

"If an investor has 100 rupees, they could probably consider investing 50-60 rupees immediately and the remaining post the budget clarity."

San Francisco-headquartered TPG Capital, one of the largest private equity (PE) firms, managing more than $120 billion in assets as of August, has been doubling down on investing in India after a cool-off period between 2012-2014.

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Silver has witnessed sharp volatility since the start of this year, marking a high of Rs 73,000 and a low of 51,500. Analysts believe that silver ETFs might gain from many global and domestic tailwinds.

According to the fund house, the scheme is suitable for investors seeking long term capital appreciation and Investment predominantly in equity and equity related securities of small cap companies.

Investors need to make the right comparisons while evaluating returns. For example, a large cap equity fund should be compared with its benchmark or another large-cap fund and not with a mid-cap or thematic fund.

Economists have factored a lower growth for the September quarter at 6.5 percent compared to 13.5 percent in the June quarter. Despite risks of a further slowdown, the Reserve Bank is still expected to deliver a 35 to 50 basis points ( one bps is 0.01 percent) rate hike to manage inflation within the mandated band of 2-6 percent.

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There were 27 schemes that have been in the market for 10 years or more. Out of these, 26 schemes offered double-digit returns.

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AMFI data shows that debt index funds have accumulated more money than equity index funds since July this year. Experts say investors have shifted to passive debt schemes because of the rate tightening and volatility in the equity markets.

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“ I am not a great fan of just jumping into something because it has done well. It is a question of where does the risk reward favour you and a large part of where risk reward favours always got to do with starting valuations being attractive. Jumping into a moving bandwagon of defence at this point of time is not my cup of tea. Maybe it fits other investors, but not my cup.”

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"Market is expecting inflation to have peaked and slow into 2023, while growth headwinds have picked up into 2023, especially in the western world," said Vikram Chopra, a fund manager with DSP Investment Managers.

The Securities and Exchange Board of India (Sebi) has amended mutual funds rules and the new norms would come into force from January 15.

The name change will be effective after relevant approvals from ROC / MCA / SEBI and other relevant regulators. For now only the branding has changed, and all company names will change subject to approvals, the fund house said.

“As we move into next year, we still expect double digit earnings growth. There will be periods of volatility and some corrections next year. In the initial period, there would be some amount of correction but as the picture gets clearer, the market clearly looks to scale higher going forward.”

The cumulative twelve-month rolling SIP inflow was also at a new high of Rs 1.4 lakh crore with average monthly inflow above Rs 13,000 crore.

To compare the performance of multi cap and flexi cap funds, we have taken the initial date as 1 January 2021, which is when the guideline issued on 11 September 2020 became effective. We have data till 19 October 2022.

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According to a press release, Nifty Financial Services Ex-Bank Index is relatively less volatile than Nifty Bank Index across all time frames. The index has outperformed both Nifty 50 index and Nifty Bank index over the last 10 years.

The bet on bank stocks is that the pick-up in the credit cycle is expected to benefit smaller lenders, which have cleaned up their books and posted healthy profits in the September quarter.

Schemes like JM Medium to Long Duration Fund, ABSL Income Fund, DSP Bond Fund and HDFC Dynamic Debt Fund, are the longest standing debt mutual funds in the industry.

The shorter tenure government bond segment or the three- to five-year maturity bucket offers better risk-reward for investors, says Puneet Pal.

Despite a rise in interest rates across the board, banks have not hiked savings bank account rates. However, bond yields have increased the returns of debt mutual funds. Currently investors can earn 6% on their investments in overnight and liquid funds.

The official, speaking at an event in New Delhi, said India would exceed budget estimates for direct tax collection by 25-30% in FY2023.

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Many big AMCs like Tata Mutual Fund, ABSL Mutual Fund and ICICI Prudential Mutual Fund have launched business cycle funds in the last two years. There are seven business cycle schemes in the market at the moment.

Money managers increased the weights of banks, technology, oil & gas, capital goods, and utilities, while moderating weights in consumer, NBFCs, autos, healthcare, retail, chemicals, telecom, consumer durables, and textiles, shows a report by Motilal Oswal.

The government and RBI have not clarified whether they plan to raise the overall limit for mutual funds to invest in overseas stocks.

BSE StAR MF processed a record 34.29 lakh transactions on October 10 versus its previous record of 32.48 lakh transactions (on 12th September 2022).

IDFC CRISIL IBX 90:10 SDL Plus Gilt– November 2026 Index Fund and IDFC CRISIL IBX 90:10 SDL Plus Gilt– April 2032 Index Fund will be managed by Gautam Kaul and will invest in a mix of state development loans and gilt securities.

Even though flexi cap funds have always maintained a bias towards large cap stocks, the higher allocation is due to recent market volatility triggered by a lot of various issues.

"The investment argument for fixed income investment remains extremely appealing on an absolute as well as relative (to equity) valuation perspective. This is notwithstanding expectations of additional near-term volatility."

Herd mentality leads to following what the group is investing in, which may work against an investors’ interests in the markets.

Some of its big domestic and foreign bets have dragged its return profile recently. But investors can take comfort from the fund manager’s proven execution capabilities and superior risk-return payoff over market cycles.

PPFAS Mutual Fund - which has been conducting such Unitholders' Meets since its inception in May 2013 - is the only fund house in India to organise such an event at scale.

"The Indian economy has been resolute in the midst of a very challenging and volatile global environment. The economy has bounced back extremely well from the pandemic-led impact and we have seen strong performances from corporates. The capacity utilization numbers have been higher than pre-pandemic levels, indicating the underlying strength. The banking sector has been witnessing healthy credit demand which augurs well for the future."

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Though India internal factors remain stable. In the age of globalization, no economy can withstand the global headwinds. India, like many others, faces pressure from the external sectors.

In August, the general insurance firm filed draft papers seeking approval from the Securities and Exchange Board of India (SEBI) to go public. The capital markets regulator had sent a written back to the investment bankers handling the IPO for certain clarifications in October and is awaiting a response.

The company will sell its shares in the range of Rs 548-577 apiece with a lot size of 25 equity shares. However, this Rs 835.61 crore issue is entirely an offer for sale by the promoters and existing shareholders of the company.

The company has five manufacturing facilities, two at Ludhiana, Punjab, one at Visakhapatnam, Andhra Pradesh, and two at Noida, Uttar Pradesh. It also has a manufacturing, warehousing and distribution facility at Eldridge (US).

Dharmaj has a strong positioning in the agrichemical value chain with a portfolio of 414 agrochemical formulations and six agrochemical technicals. The company expanded the installed capacity significantly to 25,500 metric tonnes (MT) in FY22 compared with 9,150 MT in FY20.

Paytm’s grim first anniversary underscores an erosion of confidence in its ability to become profitable after debuting at a time when India’s IPO market was enamored with tech startups. It’s one among a slew of startups that listed with valuations seen by many as exaggerated.

It was subscribed 1.55 times. While retail investors bid for 4.7 times the allotted shares, only 50% of the high net-worth individuals' portion was subscribed.

Investors can place a bid of a minimum of 60 equity shares and in multiples thereafter. Also, the issue is open for subscription till Wednesday, November 30. The anchor book will open for a day on November 25.

The stock however, gave up part of its gains before closing at ₹690.10, up 17.6% over its issue price. The ₹858-crore IPO, in which shares were sold in the price band of ₹559-587 between November 10 and November 14, was subscribed over 34 times.

The company's ₹1,960-crore IPO was sold in the range of ₹450-474 per share between November 9 and November 11. Only 70% of the IPO was subscribed but the issue sailed through as it met the criteria set by the Securities and Exchange Board of India for an IPO.

The portion reserved for institutional investors was subscribed 48.91 times, while the retail quota was subscribed 9.96 times. The high-net-worth individuals' portion received bids for 14.9 times the shares reserved for them.

Abhay Doshi, co-founder, UnlistedArena, said despite pricey valuations, the company has a strong business model leading to strong subscription during the three-day bidding process.

Incorporated in 1995, Keystone Realtors is a Rustomjee Group company and is one of the prominent real estate developers. It is engaged primarily in the business of real estate construction, development and other related activities.

Incorporated in 2012, Inox Green Energy Services is one of the major wind power operation and maintenance service providers in India. The company is a subsidiary of Inox Wind.

Before jumping into any statistics, let's discuss what the macroeconomic situation has been over the last 10 months. The economy has witnessed a roller coaster ride of events, from the Russia-Ukraine War to skyrocketing inflation, markets have seen it all. High commodity prices have hit companies' margins all over the world.

Last heard, the company's shares were being dealt at a premium of Rs 120-125 in the unofficial market, translated into a premium of about 30% compared to its issue price of Rs 407.

Experts believe that one shall not expect a dry season for the primary markets but investor's interest and risk appetite have taken a hit after a long series of muted listings, which has dented both number and sizes of the issues.

By the close of trading, however, Nykaa’s stock price recovered to close flat at Rs 185. With the post-IPO lock-in of shares ending for large investors, who had bought the stakes when these companies were private, market players feel there’s more pain for these scrips. For one, these stocks are expected to be weighed down further by large-size selling by early backers. Secondly, fearing a large sell-off, prospective investors will also be cautious to buy these stocks, a trader said.

The IPO will include a fresh issue of shares worth up to Rs 1600 crore

Analysts tracking the grey market said there is definitely the sentimental impact, particularly after the listing of Medanta, which continued to be in demand after the listing following the fund action.

Indian IPOs raised a record $18 billion in 2021 on government efforts to foster startups combined with easy-money policy and a surge in retail trading during the pandemic. But investors have since dumped high-profile tech shares, even as the broader Indian stock market has outperformed global peers and scaled new peaks.

The Mumbai offering may raise between Rs 30 billion and Rs 40 billion, they said, asking not to be identified as the information is private. The IPO may consist of about 75% primary shares and the rest in existing shares, one of the people said.

According to the data from BSE, the investors made bids for 1,21,52,241 equity shares or 1.41 times compared to the 86,47,858 equity shares offered for the subscription by 12.15 pm on Wednesday, November 16.

The hospitality industry body alleged that "OYO is responsible for the systemic depredation of the budget segment hotel business and its market as a means to achieve a notional billion-dollar valuation which is a serious cause of concern for the hospitality ecosystem of the country."

KFintech is also the largest issuer solutions provider in India based on the number of clients serviced and holds a 43% market share based on the market capitalisation of NSE 500 companies and a 34% market share based on the number of clients serviced within NSE 500 companies, as on January 31, 2022.

Analysts tracking the grey market said the issue received a strong response from institutional bidders which boosted the sentiments over the issue. One can expect a mildly positive listing for the stock.Abhay Doshi, co-founder at UnlistedArena said the company received a strong response from QIB bidders which pushed the morale of investors despite aggressive pricing. "One can expect 10-15% returns on debut."

Global Health is one of the largest private multi-speciality tertiary care providers operating in North and East India. It has a network of five hospitals under 'Medanta' brand in Gurugram, Indore, Ranchi, Patna and Lucknow.Dealers tracking the grey market said the lower-than-expected response to the issue dented sentiments for the company and one should not expect any fireworks at listing.

The company's Rs 1,960 crore IPO was sold in the range of Rs 450-474 per share and received a muted investor response, just sailing through between November 9-11 as retailers and HNI investors kept off the issue, and it barely sailed through.

The company will use the IPO proceeds towards funding capital expenditure for setting-up of 25 new stores, two warehouses, financing working capital requirements of the company, repayment or pre-payment, in full or part, of certain borrowings availed by the company and general corporate purposes.

Incorporated in 2012, Inox Green Energy Services is one of the major wind power operation and maintenance (O&M) service providers within India, specifically the provision of O&M services for wind turbine generators.

The company is selling its shares in the range of Rs 514-541 apiece between November 14 and 16, with a lot size of 27 equity shares

Last heard, the shares of Archean Chemical were commanding a premium of around Rs 95-100 in the grey market, hinting for a strong listing pop. The premium in the unofficial market has been hovering around the same levels.

The initial public offering of Fusion Micro Finance ran between November 2-4 wherein the company sold its shares in the range of Rs 350-368 apiece to raise Rs 1,104 crore.

The portion reserved for the qualified institutional buyers was subscribed 98.47 times, while the non-institutional investor's segment saw bids of 21.21 times. The retail investor portion was subscribed 4.09 times.

In September, the Securities and Exchange Board of India (Sebi) announced it would be introducing a special confidential filing framework through which companies will be able to file offer documents privately with the market regulator and seek its comments. They needn't file any public offer document until the actual launch of the IPO. Sebi will soon publish the final guidelines on this framework.

Keystone Realtors is a well-established customer-centric brand with an asset-light and scalable model resulting in profitability and stable financial performance, said Anand Rathi Research, adding that it is among the leading residential real estate development companies.

Edelweiss Financial Services, DAM Capital Advisors, Equirus Capital, IDBI Capital Market Services and Systematix Corporate Services are managers to the issue, whereas Link Intime India is appointed as the registrar to the issue.

The company provides manufacturing and life-cycle support for players in the automotive, industrial, aerospace and defence, outer-space, nuclear, medical, railways, Internet of Things (IoT), Information Technology and other segments.

The Rustomjee Group company's IPO includes a fresh issue worth Rs 560 crore and an offer for sale (OFS) of up to Rs 75 crore by the promoters - Boman Rustom Irani, Percy Sorabji Chowdhry, and Chandresh Dinesh Mehta.

Consequently, the average oversubscription multiple for the quantum of stocks reserved for high net worth individuals (HNIs) and non-institutional investors was 13 times this fiscal year, compared with a mean of 150 times last year.

Winner or the Startup of the Year category at the ET Startup Awards 2022, Razorpay has already surpassed its annual gross transaction value (GTV) target of $90 billion for this year, hitting the $100 billion mark even as online businesses are starting to see a slowdown.

Usually, analysts value the real estate companies by discounting the future cash flows. However, due to lack of availability of data for that, the company can be valued on price-earnings (P/E) multiple. On FY22 earnings, the company demands a P/E of 45 times. Oberoi Realty, Macrotech and Godrej are at 31, 36 and 102 times.

As the primary market remains buoyant amid a bullish mood in the stock market, another IPO by a Rustomjee Group company is set to open on Monday. The Rs 635-issue comprises fresh issue of Rs 560 crore as well as offer for sale (OFS) of Rs 75 crore. The issue will open on November 13 and will conclude on November 16.Here are the key facts to note about the IPO before the issue opens to take an investment call

The company received bids for 2.12 crore shares against the offered 3.05 crore shares, according to the data available on the stock exchanges. Overall, the issue was subscribed 0.70 times.

The majority of the brokerage firms remain positive about the company citing its strong order book and growth prospects. However, a few remain concerned about the company citing high competition and high customer concentration.

Five Star Business Finance, whose IPO also closes today, has seen only 48% bids so far. At the same time, Inox Green which opened on Friday garnered 12% bids and Kaynes Tech 33% on day 2 of the book-building process.

Archean Chemical Industries is India's largest exporter of bromine and industrial salt in the fiscal year 2020-21. The company is the leading speciality marine chemical manufacturer in India.

Five Star Business Finance is available at the upper price of the band at 3.7x P/BV and returns on net worth of 13.86%, and ROA is 7.5%. Five Star Business Finance is fairly priced, said Anand Rathi with a 'Subscribe for long term' rating.

Edelweiss Financial Services, DAM Capital Advisors, Equirus Capital, IDBI Capital Market Services and Systematix Corporate Services are managers to the issue, whereas Link Intime India is appointed as the registrar to the issue.

Inox Green Energy IPO: The valuation of Inox Green looks reasonable, considering the nature of its business and the comparative margin profiles. Inox Green has much better EBITDA margins than its global peers, said KR Choksey Research.

The quota reserved for qualified institutional buyers (QIBs) was subscribed 80.6 times while those reserved for non-institutional investors (NIIs), retailers and employees were subscribed 7.1 times 4.77 times and 4.38 times, respectively.