Kotak Mahindra Mutual Fund has announced that Kotak Corporate Bond Fund will see the merger of Kotak FMP Series 251 to 256 into it starting from 10 May 2022 till 25 May 2022. These schemes are fixed maturity plans with different tenures. The merger was approved by Kotak Mahindra Asset Management Company Limited and Kotak Mahindra Trustee Company Limited.
Open FlipCamlin Fine Sciences confirmed that the Company is initiating a planned annual maintenance activity of its Dahej facility in Gujarat. The mentioned unit will be under maintenance shutdown from April 10, 2022, to May 10, 2022. The resumption of operation will be commencing on May 11, 2022. Following the publication of this news, the Company stock gained on the Sensex today.
Open FlipReserve Bank of India (RBI) has levied an aggregate penalty of Rs90 lakh on IDBI Bank for Frauds-classification and reporting by commercial banks and select FIs. To prevent such incidents in future, the bank has set up necessary corrective actions to strengthen its internal control mechanisms. At around 9:20 AM, IDBI Bank was trading apiece down from its previous closing of Rs47.50 on the BSE.
Open FlipIndia’s largest Third-Party Logistics (3PL) solution provider, Mahindra Logistics Ltd. (MLL) declared about picking a majority stake in ZipZap Logistics Private Limited, which is a last-mile logistics service provider operating under its brand ‘Whizzard’. Through this acquisition, MLL’s existing last-mile delivery business and EDel will get a boost. In early trade, MLL was trading higher in BSE.
Open FlipBitcoin's price is presently Rs 33.41 lakh, with a dominance of 41.21%. According to CoinMarketCap data, it is a 0.26% increase over the day. The global crypto market cap is $1.93 trillion, a 2.86% decline over the last 24 hrs that has put Cryptocurrencies to trade in the red early on April 11. The total crypto market volume over the last 24 hrs is $64.24 billion, which makes a 15.79% hike.
Open Flip📊 Amid weak global cues, domestic benchmark indices witnessed a negative START on Apr-11. ✅At 9:15 AM, Sensex plunged by 🔻 202.91 points or 0.34% at 59244.27, and the Nifty was down 46.10 points or 0.26% at 17738.20. About 1730 shares have advanced, 584 shares declined, and 141 shares are unchanged. HDFC Bank, Kotak Bank, and SBI Life appeared as the top losers on the Nifty 50 at open today.
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Open FlipPrices of Gold eased on Monday, as the dollar and Treasury yields firmed on prospects of aggressive interest rate hikes by the U.S. Federal Reserve. The concerns over Russia's attacks in eastern Ukraine lent some support to the safe-haven metal. Spot gold declined 0.2% at $1,942.93 per ounce, as of 0140 GMT, after reaching a more than one-week high of $1,949.32 earlier in the day.
Open FlipPalladium continued its rally after the suspension of 2 state-owned Russian refiners by the London market and the CME Group. The move added to concerns about potential supply disruptions from the key producing country. The precious metal’s price increased by 2.6% to $2,495.05 an ounce at 10:42 a.m. in Singapore and is up 31% this year. Prices climbed an all-time high of $3,442.47 on March 7.
Open FlipIPO-bound Ola's board recently nodded to Avail Finance acquisition for $50 million in a share swap deal. The latter is promoted by founder and CEO Bhavish Aggarwal's brother-Ankush Aggarwal. Following this transaction, Ankush Aggarwal is likely to lead Ola Financial. The acquisition comes at a time when the SoftBank-backed firm plans for an IPO in 2022.
Open FlipNFO collections in Mar-22 collections in Mar-22 stood at a robust Rs13,275cr, largely led by the SBI Multi-Cap fund and the rest driven by SIP inflows. Still, this duration was not considered the best time for debt funds and that trend is obvious in quarter closings as treasury pressure builds up. NFO collections were still lower compared with the August 2021 peak of Rs23,688cr.
Open FlipThe US dollar index improved to 100 for the first time in almost 2 years. The greenback registered a high of 100.20 thanks to a more aggressive pace of monetary tightening. At the same time, Rupee's future maturing on April 27 gained by 0.20% as the RBI left its repo rate unchanged while introducing SDF at 3.75%. In this situation, ICICI Direct suggest selling USDINR with a target of Rs 75.80.
Open FlipAshish Kacholia increased his stake in multibagger stock Yasho Industries which offered approximately 550 per cent return to its shareholders in the previous one year. The ace investor has even increased his stake in the company from 2.36 per cent to 2.55 per cent buying 21,800 fresh shares of Yasho Industries during January to March 2022 quarter.
Open FlipIndonesia’s biggest tech player--GoTo Group shares zoomed on its first day of trading after raising $1.1 billion in one of the world’s largest maiden issues in 2022. It surged by 23% and was up 14% to 386 rupiah at 9:41 a.m. in Jakarta, valuing the company at about $32 billion. The IPO was the third-largest offering in Indonesia after PT Bukalapak.com and PT Dayamitra Telekomunikasi.
Open FlipA one-time password (OTP) based cash withdrawal facility is available for the State Bank of India (SBI) customers which protects them from unauthorised transactions at ATMs. Through this OTP facility, SBI’s customers are allowed to withdraw ₹10,000 and above from its ATMs. 💡 For those who didn't know, this facility is active since 1 January 2020.
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