Fri, Apr 19, 2024 1:57 PM
Deepak Fertilisers arm partners with Israeli group
A Flip by Shubhangi Gupta
Groww Mutual Fund (MF) on Thursday (May 2) launched the Nifty Non-Cyclical Consumer Index Fund. This marks the inception of India’s first non-cyclical index fund. The scheme is aimed at securing long-term capital appreciation through strategic investments in equity and equity-related instruments. The new fund offer (NFO) of the scheme will be available for subscription till May 16.
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Shares of IndiaMart Intermesh Ltd. zoomed 5% in Thursday's trading session even as domestic brokerage firm Nuvama Institutional Equities cut its earnings estimates for FY25 and FY26 by -3.7% and -2.9%, respectively, to factor in lower growth post the March quarter results. Nuvama has also slashed its target multiple from 40 times to 35 times given the company's lower growth profile.
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The Delhi High Court has held that no proceedings under the Prevention of Money Laundering Act (PMLA), including attachment of properties, can continue after the accused is acquitted in the predicate offence even if an appeal against it is pending. The court, in a decision released on Wednesday, stated that mere filing of the appeal against the acquittal in the predicate offence.
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