Markets regulator, the <keyword id="6355630" type="UNKNOWN" weightage="20" keywordseo="securities-and-exchange-board-of-india">Securities and Exchange Board of India</keyword> (<keyword id="35210" type="ORGANIZATION" weightage="20" keywordseo="sebi">SEBI</keyword>) on Sunday clarified that mutual funds have many options to meet requirements of the circular on asset allocation of multi-cap funds, based on the preference of their unit-holders. In a clarification issued on Sunday, the SEBI said apart from rebalancing their portfolio in the multi-cap schemes, mutual funds could facilitate switch to other schemes by unit-holders, merge their multi-cap scheme with their large-cap scheme or convert their multi-cap scheme to another scheme category, for instance, large-cum-mid-cap scheme. <keyword id="119509" type="ORGANIZATION" weightage="20" keywordseo="Kotak-Mutual-Fund">Kotak Mutual Fund</keyword> has welcomed the SEBI clarification. Nilesh Shah, Managing Director, Kotak AMC, said in a tweet: "Immense gratitude to SEBI for issuing clarification on a Sunday evening. We will ensure compliance with SEBI Regulations in letter as well as spirit &amp; optimize risk adjusted return for our Investors. Don't take Investment decisions in haste." The SEBI said it is conscious of market stability and therefore, has given time to mutual funds till January 31, 2021 to achieve compliance with the circular, through their preferred route, of which rebalancing of the portfolio is only one such route. "It is reiterated that to achieve the desired objective of True to Label and Appropriate Benchmarking, the SEBI will examine proposals of the industry, if any, received in this regard," it said. The SEBI has issued a circular dated September 11, on multi-cap schemes of mutual funds, requiring them to invest a minimum of 25 per cent each in large, mid and small-cap stocks, with the balance 25 per cent giving flexibility to the fund manager. The regulator said the circular was issued as a need was felt to review the scheme characteristics of multi-cap schemes and take necessary steps to clearly distinguish these from other category of schemes. Multi-cap schemes had flexibility in terms of allocation to large, mid and small-cap stocks. "However, it has recently been observed that some multi-cap schemes have skewed portfolios, with over 80 per cent of investment in large-cap stocks akin to large-cap schemes, and some multi-cap schemes have near zero or insignificant asset allocation to small-cap companies," it said. As per the SEBI circular, it was anticipated that there could be a large inflow of funds into small-cap stocks to meet the requirement of minimum 25 per cent asset allocation. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/top-stocks-to-watch-future-retail-ril-irctc-bhel-tata-motors-adani-green-vodafone-idea-godrej-properties-sunteck-realty-and-more/articleshow/78097615.cms">Top stocks to watch— Future Retail, RIL, IRCTC, BHEL, Tata Motors, Adani Green, Vodafone Idea, Godrej Properties, Sunteck Realty and more</a> <a href="https://www.businessinsider.in/india/news/delhi-police-arrests-umar-khalid-connection-with-northeast-delhi-riots/articleshow/78097740.cms">Delhi Police arrests Umar Khalid in connection with Northeast Delhi riots</a> <a href="https://www.businessinsider.in/tech/news/tiktok-owner-bytedance-rejected-microsofts-offer-for-the-apps-us-operations/articleshow/78097018.cms">TikTok owner ByteDance rejected Microsoft's bid for the app's US operations, Oracle reportedly chosen as US 'technology partner'</a>

SEBI clarifies that mutual funds will have options apart from rebalancing portfolio

New Delhi, Dec 5 () Rate-sensitive bank and auto stocks fell on Thursday while realty companies largely depicted a mixed trend after the Reserve Bank surprised with its decision to hold key policy rates.
Among bank stocks, IndusInd Bank fell 2.21 per cent, RBL Bank 1.95 per cent, SBI 1.65 per cent, Yes Bank 1.51 per cent, Axis Bank 1.39 per cent, Federal Bank 1.25 per cent, HDFC Bank 0.50 per cent, Kotak Mahindra Bank 0.46 per cent and ICICI Bank 0.27 per cent on the BSE.
The BSE Bank index closed at 36,147.31, down 0.76 per cent.
The Reserve Bank on Thursday unexpectedly hit a pause button on cutting interest rate as it gave more importance to prevailing inflation pressure and rising food prices over a worrying slowdown in the economy.
After five consecutive cuts in interest rates this year, the Monetary Policy Committee (MPC), headed by RBI Governor Shaktikanta Das, unanimously voted to hold the key repo rate at 5.15 per cent and reverse repo rate at 4.90 per cent.
Among auto companies, Tata Motors skidded 1.95 per cent, Hero MotoCorp 1.76 per cent, Ashok Leyland 1.42 per cent, Motherson Sumi Systems 1.17 per cent, Maruti Suzuki India 0.99 per cent, Bajaj Auto 0.71 per cent, M&amp;M 0.37 per cent and TVS Motor Company 0.08 per cent.
 Tracking weakness in these scrips, the BSE auto index settled 0.64 per cent lower at 17,810.17.
 "RBI's decision to keep policy rates unchanged was a surprise, especially after indicating in the last policy that growth was a bigger concern and reducing the FY 2020 GDP growth estimate to 5 per cent," said Suvodeep Rakshit, Vice President &amp; Sr Economist, Kotak Institutional Equities. 
 Realty index was mixed at the closing bell. Shares of Phoenix Mills fell 2.64 per cent, Sunteck Realty 1.70 per cent, Mahindra Lifespace Developers 1.59 per cent, Godrej Properties 0.19 per cent, Indiabulls Real Estate 0.16 per cent and Prestige Estates Projects 0.09 per cent.
 In contrast, Oberoi Realty gained 2.75 per cent, Sobha 0.59 per cent, Omaxe 0.42 per cent and DLF 0.39 per cent.
 The realty index closed at 2,198.50, up 0.20 per cent.
 HDFC Securities MD &amp; CEO Dhiraj Relli said, "Though the stock market participants could be disappointed by the no-repo-rate-cut action, we think that the participants are mature enough to understand the prudence of the Central Bank which means that the markets may not react downwards sharply due to this disappointment."
In the broader market, the 30-share BSE gauge Sensex was lower by 70.70 points or 0.17 per cent to close at 40,779.59. 
"It was an unexpected move with the RBI keeping the repo rate unchanged at 5.15 per cent, as the market expected 25 bps (basis points) cut in repo rate," Deepthi Mary Mathew, Economist at Geojit Financial Services said.
"Given the growth-inflation dynamics, we still sense that RBI will deliver a rate cut of 25bps in February policy meeting given the widespread deceleration in the economy," Amar Ambani, Head of Research - Institutional Equities, YES Securities said. SUM


 
 
 SUM ANU
ANU

Rate-sensitive bank, auto stocks fall as RBI surprises with status quo

<ul><li>The 30-share BSE index was trading 0.88% higher, while the Nifty50 rose 89.15 points.</li><li>These were the top losers and gainers in the Nifty pack. </li><li>These are the top stocks that are buzzing in trade today.</li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider.</a> </li></ul>Indian stock market index Sensex jumped over 300 points in early trade on Monday tracking cues from Asian peers and fresh foreign fund inflow. The 30-share BSE index was trading 0.88% higher, while the Nifty50 rose 89.15 points. These were the top losers and gainers in the Nifty pack: <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top Nifty Gainers </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top Nifty Losers </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">HCL Tech </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Asian Paints </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tech Mahindra </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">HDFC Life </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Infosys </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bajaj Finance </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tata Motors </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">BPCL </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">TCS </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Hero MotoCorp </td></tr></tbody></table>*as of September 14, 9:50 am These are the top stocks that are buzzing in trade today: HCL Technologies gains 6% HCL Tech advanced 6% post-mid-quarter<a href="https://archives.nseindia.com/corporate/HCLTECH_14092020081946_HCLTechMidquarterUpdate.pdf"> update to stock-exchanges</a>. The company said it expects the revenue and the operating margin for the current quarter to be meaningfully better than the top end of the guidance it had provided in July 2020. TCS’ market cap touches ₹9 trillion-mark The shares of TCS gained 2% on September 14, making the company’s market cap exceed ₹9 trillion-mark for the first time in the stock history. The rally was led by the gains in the IT stocks. Wipro up over 2% The shares of Wipro Limited were trading 2% higher during the early trade hours on Monday after <a href="https://archives.nseindia.com/corporate/WIPRO_14092020080043_Press_release14092020.pdf">it announced its partnership with ProcessMaker, a US-based software company</a>. The company said, “this collaboration will leverage Wipro’s proprietary technology platform iCaaS (Intelligent Content as a Service) along with ProcessMaker’s Workflow automation platform to deliver Cognitive Content Automation solutions to customers.” RIL shares surge 2% amid news reports of stake sale Mukesh Ambani owned RIL shares gained 2% on the back of n<a href="https://www.livemint.com/companies/news/carlyle-may-pick-up-2-billion-stake-in-ril-s-retail-arm-11600042534910.html">ews reports</a> that Carlyle Group is looking to invest $1.5-2 billion to buy a stake in its retail arm, Reliance Retail. IRCTC lost 1% soon after the market opened IRCTC shares lost nearly 1% during the early hours of trading. The company that runs the operations for Indian Railways reported a net loss of ₹24.6 crore for the quarter ended June 30. The company’s overall revenue was down 71.4% to ₹ 131.3 crores compared to the same period last year. Yes Bank advances 4% The shares of Yes Bank gained 4% after the credit rating agency ICRA upgraded its ratings assigned to various debt instruments of the private lender on Friday. Adani Green locked in 5% upper circuit Adani Green shares gained 5% after the CEO told investors in a concall that Adani Green’s deal to buy Essel’s Solar assets is in its final stages, and the company is seeking $1.8 billion to build projects. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/top-stocks-to-watch-future-retail-ril-irctc-bhel-tata-motors-adani-green-vodafone-idea-godrej-properties-sunteck-realty-and-more/articleshow/78097615.cms" data-type="tilCustomLink">Top stocks to watch— Future Retail, RIL, IRCTC, BHEL, Tata Motors, Adani Green, Vodafone Idea, Godrej Properties, Sunteck Realty and more</a> <a href="https://www.businessinsider.in/tech/news/tiktok-owner-bytedance-rejected-microsofts-offer-for-the-apps-us-operations/articleshow/78097018.cms" data-type="tilCustomLink">TikTok owner ByteDance rejected Microsoft's bid for the app's US operations, Oracle reportedly chosen as US 'technology partner'</a>

Top stock movers — HCL, Wipro, TCS, Tech Mahindra, RIL, IRCTC, Yes Bank, Adani Green and more

New Delhi, Feb 1 () The real estate industry on Saturday expressed disappointment over the Budget, saying it failed to address huge liquidity concerns in the sector and did not provide any major incentives to boost sluggish housing sales.
 "The direction of the budget is progressive, however, there are no sector-specific measures for the realty sector," CREDAI National Chairman Jaxay Shah said.
 He welcomed the government's decisions to extend the tax benefit to boost demand and supply of affordable housing, but said the industry was eagerly waiting for the rental housing policy, one-time rollover of developers' loan and the Rs 45 lakh limit to be removed in affordable housing definition.
 NAREDCO President Niranjan Hiranandani said: "The liquidity issue which is a major challenge for the economy in general and real estate in particular, here too one does not see any major relief."
 CREDAI President Satish Magar said: "Budget 2020 has not been encouraging for the Indian real estate sector which needs immediate attention from the government."
 The industry expected more bolder steps from the government to revive the ailing sector such as providing more liquidity for the sector, one-time restructuring of loans, and tax deductions on home loans to give impetus to buyer sentiment, he added.
 Anarock Chairman Anuj Puri said the Budget misses on the 'quick fixes' the real estate sector needs urgently and focuses more on a long-term vision. "Apart from the affordable housing push and personal tax relief, no major benefits came in for resolving the current housing mess."
 Giving Budget a rating of 3 out of 10 for the realty sector, JLL India Country Head and CEO Ramesh Nair said: "The Budget announcement continues to focus on affordable housing and infrastructure, more specifically, urban infrastructure and logistics. However we do not see significant impact on the realty sector."
 Anshuman Magazine, Chairman &amp; CEO (India, South East Asia, Middle East &amp; Africa), CBRE said: "Continuing its commitment for further strengthening the national infrastructure till the last mile, the finance minister presented a progressive budget and touched upon every section of the economy."
 Shishir Baijal, Chairman and Managing Director, Knight Frank India, said that the Budget falls short of real estate sector's expectations.
 "The industry was hoping that the government would come up with measures to boost housing demand. However, the removal of exemptions under the new income tax regime, implying no tax benefit on principal and interest for home loans would be a dampener for the sector," he added.
 Tata Realty and Infrastructure MD &amp; CEO Sanjay Dutt said: "Overall, we would have liked to see a few of the several long- standing needs of the real estate sector be addressed such as granting of the industry status, one time roll-over (debt), tax on unsold inventory, tax to individual investor for notional income on second or third home, offset of loan interest from income, developer subvention and RERA as single body for customer grievances."
 Housing.com CEO Dhruv Agarwala said: "In the 2020 budget the government has decided to help the common man by reducing the income tax burden on individuals. By doing this, the government will definitely help boost consumer sentiment which will give a big fillip to consumption."
 The budget announcements will give a significant boost to the affordable housing segment, enabling both home buyers and developers to benefit from it, Sobha's VC &amp; MD JC Sharma said.
 Puravankara's MD Ashish R Puravankara said the Rs 1.5 lakh deduction in affordable home loan interest extended by another year will bring people closer to their dream of becoming home owners."
 Sunteck Realty CMD Kamal Khetan said: "Budget predominantly focussed on revitalising the affordable housing which is an attempt to revive the animal spirit in the real estate market. The trickledown effect of the tax saving will mean disposable income in the hands of the common man, thereby increasing consumption and investment in real estate."
 Rajan Bandelkar, President (NAREDCO West), said: "The real estate sector had pinned high hopes on the Budget, as the sector has been reeling under pressure and is on the verge of collapse."
 The sector's key demands such as allowing restructuring of loans and raising the limit of Rs 45 lakh for affordable housing have not been met, he added.
 "Extension of timeline for benefit on affordable housing for the developer is in the line of government intention to provide houses to every citizen, said Bijay Agarwal, MD, Salarpuria Sattva.
 Signature Global Chairman Pradeep Aggarwal said the extension of additional tax deduction on affordable housing by one year is a step in right direction.
 Gaurs group MD Manoj Gaur said the budget announcements seems to be mixed bag from real estate perspective. It simplifies income tax regime and provides tax incentives on affordable housing but many long pending demand of the real estate sector has not been met, he added.
 Raheja Developers CMD Navin Raheja said: "Extension and continuity of sanction and launch limitation from March 2020 to 21 for availing tax free exemption for developers of affordable housing projects is another welcome step together with 1.5 lac exemption to the affordable home buyers."
 Runwal group CMD Sandeep Runwal said: "Although the last couple of years have been challenging, we are hoping that the tax relief across income slabs will increase the disposable income of the middle segment group for affordable housing consumption."
 Investors Clinic founder Honeyy Katiyal said: "Affordable housing needs exclusive attention from the government and developers today as it is one the key building blocks in today's real estate."
 Hawelia Chairman Rattan Hawelia said: "The ongoing challenges and concerns of the struggling real estate sector and affected homebuyers have not been addressed in the budget." MJH PSK MKJ

You Searched For "Sunteck Realty" and got 4 results

SEBI clarifies that mutual funds will have options apart from rebalancing portfolio

IANS

Rate-sensitive bank, auto stocks fall as RBI surprises with status quo

PTI

Top stock movers — HCL, Wipro, TCS, Tech Mahindra, RIL, IRCTC, Yes Bank, Adani Green and more

Navdeep Yadav

Realtors disappointed with Budget, say no major announcements to address industry concerns

PTI