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Equity benchmark indices <keyword id="19896382" type="General" weightage="100" keywordseo="Sensex" source="keywords">Sensex</keyword> and <keyword id="19896381" type="General" weightage="20" keywordseo="Nifty" source="keywords">Nifty</keyword> settled lower for the sixth straight session on Monday due to <keyword id="23460783" type="General" weightage="20" keywordseo="heavy-selling" source="keywords">heavy selling</keyword> in bellwether stocks including <keyword id="19895995" type="General" weightage="20" keywordseo="HDFC-Bank" source="keywords" meta.keywordsubtype="org" meta.entityname="HDFC Bank" meta.hostid="261" meta.entityid="HDFC Bank">HDFC Bank</keyword> and <keyword id="19896380" type="General" weightage="20" keywordseo="Reliance-Industries" source="keywords" meta.keywordsubtype="org" meta.entityname="Reliance Industries" meta.hostid="261" meta.entityid="Reliance Industries">Reliance Industries</keyword> amid mixed trends in the global markets and outflow of <keyword id="19975891" type="General" weightage="20" keywordseo="foreign-funds" source="keywords">foreign funds</keyword>. Falling for the sixth consecutive session, the <keyword id="19950208" type="General" weightage="20" keywordseo="BSE-Sensex" source="keywords">BSE Sensex</keyword> tumbled 638.45 points or 0.78 per cent to settle at 81,050. During the day, it plummeted 962.39 points or 1.17 per cent to 80,726.06. The NSE Nifty slumped 218.85 points or 0.87 per cent to end at 24,795.75. From the 30 Sensex firms, Adani Ports &amp; Special Economic Zones, NTPC, State Bank of India, PowerGrid, IndusInd Bank, Axis Bank, HDFC Bank, Titan and UltraTech Cement were the major laggards. Mahindra &amp; Mahindra, ITC, Bharti Airtel, Infosys, Bajaj Finance, Tata Consultancy Services and Tech Mahindra defied the trend. "The Indian markets have entered a consolidation phase with high risk of underperforming to Asian peers. "This phase is marked by significant corrections in the broader market due to premium valuations. There is notable global arbitrage activity, with Chinese markets attracting substantial inflows driven by its attractive valuations and stimulus measures," Vinod Nair, Head of Research at <keyword id="19933343" type="General" weightage="20" keywordseo="Geojit-Financial-Services" source="keywords" meta.keywordsubtype="org" meta.entityname="Geojit Financial Services" meta.hostid="261" meta.entityid="Geojit Financial Services">Geojit Financial Services</keyword>, said. Global oil benchmark Brent crude surged 2.09 per cent to USD 79.68 a barrel. European markets were trading on a mixed note on Monday. In Asian markets, Tokyo, Shanghai, Hong Kong and Seoul settled higher. Wall Street ended with gains on Friday. Investors are reassessing their portfolio positions and FIIs outflows are exacerbated. Amid escalating <keyword id="19955176" type="General" weightage="20" keywordseo="geopolitical-tensions" source="keywords">geopolitical tensions</keyword>, the surging oil prices poses a further challenge to the domestic economy in the short-term, Nair added. Foreign Institutional Investors (FIIs) offloaded equities worth Rs 9,896.95 crore on Friday, while Domestic Institutional Investors (DIIs) bought equities worth Rs 8,905.08 crore, according to exchange data. On Friday, the BSE Sensex tumbled 808.65 points to settle at a three-week low of 81,688.45, while NSE Nifty slumped 235.50 points to 25,014.60. Last week, the BSE Sensex tanked 3,883.4 points, or 4.53 per cent, and the Nifty slumped 1,164.35 points or 4.44 per cent.

Sensex, Nifty close lower amid massive selling in heavyweight stocks, mixed global cues

Focused <keyword id="19929240" type="General" weightage="20" keywordseo="mutual-funds" source="keywords">mutual funds</keyword>, which invest in a concentrated portfolio of <keyword id="19905382" type="General" weightage="20" keywordseo="stocks" source="keywords">stocks</keyword>, are gaining traction among investors with the <keyword id="22748135" type="General" weightage="20" keywordseo="asset-base" source="keywords">asset base</keyword> of the category growing to Rs 1.43 lakh crore in three months ended June 2024, marking an increase of 31% from a year ago. Interestingly, some of the focused funds offered by the mutual fund houses such as <keyword id="22748136" type="General" weightage="20" keywordseo="Invesco-India-Focused-Fund" source="keywords" meta.keywordsubtype="org" meta.entityname="Invesco India Focused Fund" meta.hostid="261" meta.entityid="Invesco India Focused Fund">Invesco India Focused Fund</keyword>, Mahindra Manulife Focused Fund, JM Focused Fund, and <keyword id="19896378" type="General" weightage="20" keywordseo="hdfc" source="keywords">HDFC</keyword> Focused 30 Fund delivered a remarkable return of 40-60% in the past year, industry data showed. Focused funds are a type of mutual fund where the fund manager selects a concentrated portfolio of stocks, typically limited to a maximum of 30 due to regulatory constraints. This requires the fund manager to be highly skilled in stock selection, as they need to identify the best investment opportunities across the market without bias toward any specific market cap or sector. According to data from the <keyword id="20090034" type="General" weightage="20" keywordseo="association-of-mutual-funds" source="keywords">Association of Mutual Funds</keyword> in India (Amfi), the assets under management (AUM) of the focused funds were at Rs 1.43 lakh crore in the June quarter 2024-25 as compared to Rs 1.09 lakh crore in April-June FY24. This growth highlights the appeal of focused funds as an alternative to portfolio management services (<keyword id="19950020" type="General" weightage="20" keywordseo="pms" source="keywords">PMS</keyword>), especially with recent tax changes that make PMS less attractive due to higher costs and tax implications, Feroze Azeez, Deputy CEO, of Anand Rathi Wealth Ltd, said. "With the increase in taxation on both small-term capital gain tax and long-term capital gain tax, PMS portfolios are expected to see a drop in post-tax returns. For example, a PMS portfolio generating a pre-tax return of 14 % could see post-tax returns drop from 11.73 % to 11.29 %. This shift could lead to fund managers churning portfolios less frequently, which in turn will be affecting returns for investors," he added. Focused funds follow a similar concentrated portfolio strategy where the fund manager picks the top stocks and offers flexibility across market caps. Thus, becoming a more attractive option for investors looking to optimize their returns. Industry experts recommend investing in focused funds through systematic investment plans (SIPs) as a smart strategy in the current market environment of sector rotation and high valuations. Since these funds invest in a small number of stocks, SIPs can help reduce risk by spreading out investments over time. Overall, there are 31 focused schemes offered by different mutual fund houses in the category. These schemes have given returns of 19-60% in the last one year. In terms of returns, smaller funds have performed exceptionally well. The Invesco India Focused Fund delivered a remarkable return of over 60% in the past year, while Mahindra Manulife Focused Fund provided around 50% returns and JM Focused Fund offered a return of 45% during the period. With a corpus of Rs 1,552 crore as of June 2024, Mahindra Manulife Focused Fund has consistently performed well, securing the second rank for 1, 2, and 3-year periods. The fund delivered returns of 50%, 32%, and 26% over these periods, respectively. HDFC Focused 30 Fund achieved the top rank over the 3 years with a return of 28.63 %, while JM Focused Fund secured the third rank with a 25 % return during the same period. "The success of focused funds underscores the importance of skilled fund management and strategic stock selection," an industry expert said. Focused funds opt for a more targeted strategy rather than the broad diversification typical of traditional mutual funds. This approach helps fund managers make investments in a carefully selected group of stocks, reflecting their strongest investment beliefs. The concentrated nature of these portfolios requires careful selection of each stock, as the fund's performance heavily depends on these choices. Although these funds hold a limited number of stocks, they are structured to be sufficiently diversified to effectively manage risk. Overall, the assets of the equity mutual funds rose to Rs 27.6 lakh crore in June 2024 from Rs 17.43 lakh crore in June 2023.

Focused MFs' asset base rises 31% to Rs 1.43 lakh cr in June qtr; up to 60% returns last year

<ul><li>The core of the fund’s portfolio, (at least 80%), will be allocated to stocks that fall under the non-cyclical consumer theme within the basic industries. </li><li>The fund will track the Nifty India Consumption Index (TRI). </li><li>Thematic funds are considered risky due to their concentrated focus which limits diversification. </li></ul><keyword id="6431261" type="General" weightage="20" keywordseo="hdfc-mutual-fund" source="Orion">HDFC Mutual Fund</keyword> has launched the HDFC Non-Cyclical Consumer Fund, an open ended equity scheme. The new fund offer for the scheme will open for subscription on June 23, 2023, and close on July 7, 2023. The investment objective of the fund is to generate long-term capital appreciation by investing predominantly in equity, and equity related securities of companies with a focus on a non-cyclical consumer theme. The fund will track the Nifty India Consumption Index (TRI). It is a benchmark index that measures the performance of the Indian consumption sector, including companies engaged in consumer goods, consumer services, and related industries, providing a comprehensive view of the overall performance of the consumption theme in the Indian stock market. The core of the portfolio, (at least 80%), will be allocated to stocks that fall under the non-cyclical consumer theme within the basic industries. These industries include consumer goods, consumer services, telecom, healthcare, media, entertainment, and publication. The scheme would invest across segments, and market capitalisation. HDFC MF says that the investment strategy involves targeting companies that are either market leaders, or experiencing growth in market share due to factors such as superior execution, scalability, and effective adoption of technology. The fund will be equally focussed on companies that are likely to witness steady and secular growth, and also companies that have a possibility of a turnaround. The companies the fund will invest in will be from the consumer discretionary, fast moving consumer goods (FMCG), telecom, and healthcare industries. <cmsannotation type="cmsannotation" annotationid="subhead" text="What is the purpose of such a fund?">What is the purpose of such a fund?</cmsannotation> Thematic mutual funds focus on a particular investment theme, such as technology, healthcare, renewable energy, or any other sector or trend that is expected to experience significant growth, or market potential. These funds aim to capitalize on the potential growth opportunities within the chosen theme by investing in companies that are directly related to or benefit from that theme. Says Direndra Kumar, CEO, ValueResearch, “All mutual fund companies keep launching funds and keep doing activity. There is nothing in this fund which cannot be done in another fund. The agents get a new excuse to talk to the investors, and also when it is a new fund, they do not need to justify why they have not performed well. Mutual funds are a consumer product and a new fund gives you an opportunity to tell a new story.” There are already about seven funds in this space which are over 10 years old. However, this is the first such fund from HDFC Mutual Fund. <cmsannotation type="cmsannotation" annotationid="subhead" text="Historical performance of thematic consumption funds">Historical performance of thematic consumption funds</cmsannotation> <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.9999974999999999pt;border-right:solid #000000 0.9999974999999999pt;border-bottom:solid #000000 0.9999974999999999pt;border-top:solid #000000 0.9999974999999999pt;vertical-align:bottom;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Funds </td><td style="border-left:solid #000000 0.9999974999999999pt;border-right:solid #000000 0.9999974999999999pt;border-bottom:solid #000000 0.9999974999999999pt;border-top:solid #000000 0.9999974999999999pt;vertical-align:bottom;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">3 year return (%) </td><td style="border-left:solid #000000 0.9999974999999999pt;border-right:solid #000000 0.9999974999999999pt;border-bottom:solid #000000 0.9999974999999999pt;border-top:solid #000000 0.9999974999999999pt;vertical-align:bottom;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">5 year return (%) </td></tr><tr><td style="border-left:solid #000000 0.9999974999999999pt;border-right:solid #000000 0.9999974999999999pt;border-bottom:solid #000000 0.9999974999999999pt;border-top:solid #000000 0.9999974999999999pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Aditya Birla Sun Life India GenNext Fund - Direct Plan </td><td style="border-left:solid #000000 0.9999974999999999pt;border-right:solid #000000 0.9999974999999999pt;border-bottom:solid #000000 0.9999974999999999pt;border-top:solid #000000 0.9999974999999999pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">27.33 </td><td style="border-left:solid #000000 0.9999974999999999pt;border-right:solid #000000 0.9999974999999999pt;border-bottom:solid #000000 0.9999974999999999pt;border-top:solid #000000 0.9999974999999999pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">15.34 </td></tr><tr><td style="border-left:solid #000000 0.9999974999999999pt;border-right:solid #000000 0.9999974999999999pt;border-bottom:solid #000000 0.9999974999999999pt;border-top:solid #000000 0.9999974999999999pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Canara Robeco Consumer Trends Fund - Direct Plan </td><td style="border-left:solid #000000 0.9999974999999999pt;border-right:solid #000000 0.9999974999999999pt;border-bottom:solid #000000 0.9999974999999999pt;border-top:solid #000000 0.9999974999999999pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">29.26 </td><td style="border-left:solid #000000 0.9999974999999999pt;border-right:solid #000000 0.9999974999999999pt;border-bottom:solid #000000 0.9999974999999999pt;border-top:solid #000000 0.9999974999999999pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">16.71 </td></tr><tr><td style="border-left:solid #000000 0.9999974999999999pt;border-right:solid #000000 0.9999974999999999pt;border-bottom:solid #000000 0.9999974999999999pt;border-top:solid #000000 0.9999974999999999pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Mirae Asset Great Consumer Fund - Direct Plan </td><td style="border-left:solid #000000 0.9999974999999999pt;border-right:solid #000000 0.9999974999999999pt;border-bottom:solid #000000 0.9999974999999999pt;border-top:solid #000000 0.9999974999999999pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">30.52 </td><td style="border-left:solid #000000 0.9999974999999999pt;border-right:solid #000000 0.9999974999999999pt;border-bottom:solid #000000 0.9999974999999999pt;border-top:solid #000000 0.9999974999999999pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">16.24 </td></tr><tr><td style="border-left:solid #000000 0.9999974999999999pt;border-right:solid #000000 0.9999974999999999pt;border-bottom:solid #000000 0.9999974999999999pt;border-top:solid #000000 0.9999974999999999pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Nippon India Consumption Fund - Direct Plan </td><td style="border-left:solid #000000 0.9999974999999999pt;border-right:solid #000000 0.9999974999999999pt;border-bottom:solid #000000 0.9999974999999999pt;border-top:solid #000000 0.9999974999999999pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">31.28 </td><td style="border-left:solid #000000 0.9999974999999999pt;border-right:solid #000000 0.9999974999999999pt;border-bottom:solid #000000 0.9999974999999999pt;border-top:solid #000000 0.9999974999999999pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">18.01 </td></tr><tr><td style="border-left:solid #000000 0.9999974999999999pt;border-right:solid #000000 0.9999974999999999pt;border-bottom:solid #000000 0.9999974999999999pt;border-top:solid #000000 0.9999974999999999pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Nippon India ETF Nifty India Consumption </td><td style="border-left:solid #000000 0.9999974999999999pt;border-right:solid #000000 0.9999974999999999pt;border-bottom:solid #000000 0.9999974999999999pt;border-top:solid #000000 0.9999974999999999pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">22.06 </td><td style="border-left:solid #000000 0.9999974999999999pt;border-right:solid #000000 0.9999974999999999pt;border-bottom:solid #000000 0.9999974999999999pt;border-top:solid #000000 0.9999974999999999pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">10.97 </td></tr><tr><td style="border-left:solid #000000 0.9999974999999999pt;border-right:solid #000000 0.9999974999999999pt;border-bottom:solid #000000 0.9999974999999999pt;border-top:solid #000000 0.9999974999999999pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">SBI Consumption Opportunities Fund - Direct Plan </td><td style="border-left:solid #000000 0.9999974999999999pt;border-right:solid #000000 0.9999974999999999pt;border-bottom:solid #000000 0.9999974999999999pt;border-top:solid #000000 0.9999974999999999pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">36.25 </td><td style="border-left:solid #000000 0.9999974999999999pt;border-right:solid #000000 0.9999974999999999pt;border-bottom:solid #000000 0.9999974999999999pt;border-top:solid #000000 0.9999974999999999pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">15.08 </td></tr><tr><td style="border-left:solid #000000 0.9999974999999999pt;border-right:solid #000000 0.9999974999999999pt;border-bottom:solid #000000 0.9999974999999999pt;border-top:solid #000000 0.9999974999999999pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Sundaram Consumption Fund - Direct Plan </td><td style="border-left:solid #000000 0.9999974999999999pt;border-right:solid #000000 0.9999974999999999pt;border-bottom:solid #000000 0.9999974999999999pt;border-top:solid #000000 0.9999974999999999pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">23.79 </td><td style="border-left:solid #000000 0.9999974999999999pt;border-right:solid #000000 0.9999974999999999pt;border-bottom:solid #000000 0.9999974999999999pt;border-top:solid #000000 0.9999974999999999pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">10.34 </td></tr><tr><td style="border-left:solid #000000 0.9999974999999999pt;border-right:solid #000000 0.9999974999999999pt;border-bottom:solid #000000 0.9999974999999999pt;border-top:solid #000000 0.9999974999999999pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tata India Consumer Fund - Direct Plan </td><td style="border-left:solid #000000 0.9999974999999999pt;border-right:solid #000000 0.9999974999999999pt;border-bottom:solid #000000 0.9999974999999999pt;border-top:solid #000000 0.9999974999999999pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">26.36 </td><td style="border-left:solid #000000 0.9999974999999999pt;border-right:solid #000000 0.9999974999999999pt;border-bottom:solid #000000 0.9999974999999999pt;border-top:solid #000000 0.9999974999999999pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">12.54 </td></tr><tr><td style="border-left:solid #000000 0.9999974999999999pt;border-right:solid #000000 0.9999974999999999pt;border-bottom:solid #000000 0.9999974999999999pt;border-top:solid #000000 0.9999974999999999pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">UTI India Consumer Fund - Direct Plan </td><td style="border-left:solid #000000 0.9999974999999999pt;border-right:solid #000000 0.9999974999999999pt;border-bottom:solid #000000 0.9999974999999999pt;border-top:solid #000000 0.9999974999999999pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">20.76 </td><td style="border-left:solid #000000 0.9999974999999999pt;border-right:solid #000000 0.9999974999999999pt;border-bottom:solid #000000 0.9999974999999999pt;border-top:solid #000000 0.9999974999999999pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">10.07 </td></tr></tbody></table> Source: Value Research <cmsannotation type="cmsannotation" annotationid="subhead" text="Should you invest?">Should you invest?</cmsannotation> Thematic funds are considered to be among the riskier categories of mutual funds. This is primarily because these funds construct portfolios based on specific themes, which can limit the range of investment opportunities available. Thematic funds typically focus on investing in stocks that are directly related to the chosen theme, which may result in a semi-diversified portfolio. “My advice to any investor is to never invest in a new fund. When it comes to mutual funds, all you have is some track record - where it has invested, how it has performed. Here I do not know anything. My other advice is that never invest in a sectoral, or a thematic fund. My primary goal of investing in a mutual fund is that I should diversify. The very basic thing is not being achieved in case of a thematic fund,” says Kumar. In other words, in the case of thematic funds, because the concentration is on a specific theme or a sector, the fund's performance is more susceptible to the fluctuations. Therefore, investors should be aware of the potential risks and carefully consider their investment objectives and risk tolerance before investing.

HDFC Mutual Fund launches its first non-cyclical consumer fund – Should you invest?

<ul><li>The mutual fund product will provide investors with an opportunity to diversify their portfolio with exposure to multinational companies.</li><li>The fund house said that due to a unique combination of good corporate governance, trusted brands, focus on innovation and strong balance sheets, MNCs have longevity.</li><li>The fund will follow a bottoms-up approach with a focused strategy of maximum 30 stocks.</li><li>The scheme will be benchmarked against <keyword id="16491170" type="General" weightage="20" keywordseo="NIFTY-MNC-TRI" source="Orion">NIFTY MNC TRI</keyword> (Total Returns Index).</li></ul>HDFC Asset Management Company has launched HDFC MNC, an open ended equity scheme following multinational company (MNC) theme. The mutual fund product will provide investors with an opportunity to diversify their portfolio with exposure to multinational companies that are resilient during bouts of volatility. The fund house said that due to a unique combination of good corporate governance, trusted brands, focus on innovation and strong balance sheets, MNCs have longevity. “MNCs generally provide a unique combination of innovation and brand creation. They have access to superior products and technology due to R&amp;D focus of parent companies. This allows them to focus on brand creation,” said HDFC AMC in a fund presentation. The management said that the fund will invest in Indian companies that have a global presence of more than decade and are selling products consumed all over India. Dove, Tide, Kitkat, Vicks, Colgate etc are examples of well known brands with strong presence in everyday life that offer good investment opportunities, said the fund house. “MNCs tend to have a good track record of free cash flow generation and high dividend payout. Strong profitability and superior capital allocation track record results in consistently higher return ratios, thereby aiding wealth creation,” added the fund house. During periods of market downswings like tech bubble, global financial crisis, covid and geopolitical uncertainty, NIFTY MNC Index has managed to protect downside better than the broader market like Nifty 500, shows data shared by HDFC AMC. The fund will follow a bottoms-up approach with a focused strategy of maximum 30 stocks. The scheme will be benchmarked against NIFTY MNC TRI (Total Returns Index). The new fund offer (<keyword id="35472" type="General" weightage="20" keywordseo="NFO" source="Orion">NFO</keyword>) will open for subscription from February 17 and will close on March 3 and the scheme will be managed by senior fund manager Rahul Baijal. The minimum subscription amount for investment in the scheme is ₹100 per application and any amount thereafter. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/adani-enterprises-posts-820-crore-net-profit-in-q3-gautam-adani-says-current-market-volatility-temporary/articleshow/97914997.cms">Adani Enterprises posts ₹820 crore net profit in Q3: Gautam Adani says current market volatility temporary</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/top-stocks-heres-what-the-big-boys-bought-between-october-and-december/articleshow/97912443.cms">Top stocks: Here’s what the Big Boys bought between October and December</a>

HDFC MF launches MNC fund that offers portfolio diversification opportunities

Mutual funds stress test: What it means for you

<ul><li><keyword id="45123" type="General" weightage="20" keywordseo="hdfc" source="Orion">HDFC</keyword> and HDFC Bank announced a merger, bringing the housing finance company under the wings of HDFC Bank.</li><li>Analysts believe this is a marriage made in heaven and they expect the merger to be a game changer.</li><li>They recommend buying HDFC Bank on every dip as the proposed merger will strengthen its housing loan portfolio.</li></ul>Today, two of India’s largest companies are merging to create a strong entity that will be a game changer in the market. HDFC and HDFC Bank are to merge, bringing the housing finance company under the wings of HDFC Bank. Not only investors but analysts also believe in the marriage of these two large companies and recommend investing on every dip. Shareholders of the HDFC group companies have grown <a href="https://www.businessinsider.in/stock-market/news/hdfc-bank-hdfc-merger-news-makes-shareholders-richer-by-over-1-lakh-crore/articleshow/90638471.cms">richer by over ₹1 lakh crore </a>post the merger news. Analysts believe that this is a marriage made in heaven and they expect the merger to be a game-changer. “This merger will help expand the customer base and build a product portfolio in the housing loan category. We expect a great future ahead for this giant and this merger might be a game-changer in their segment. Recommend to buy this stock and accumulate it on dips,” said Manoj Dalmia, founder and director at Proficient equities. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Merits of the merger </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Merged entity to have a total loan book of ₹17.86 lakh crore. </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Housing loan portfolio of HDFC Bank to become larger </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Good robust asset portfolio mix </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Can cross sell financial products to large customer base of both companies </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Leveraging the power of distribution in urban, semi-urban and rural geographies </td></tr></tbody></table>While the merger is beneficial to both the companies, for HDFC Bank it is making the home loan portfolio larger and stronger. “HDFC Bank reported loan growth of 21% year-on-year and retail deposit growth is healthy. The operating profits may also see a surge on strong commercial banking and corporate segments. The merger of HDFC Bank and HDFC is a complement to the investors and a value addition to HDFC Bank,” said Dr. Ravi Singh, vice president and head of research at Share india. While the merger is announced, the regulatory approvals could take up to 18 months to complete. HDFC Chairman, Deepak Parekh reportedly said that post effective date of merger, all HDFC branches will continue to offer mortgages. Later HDFC branches may be converted into bank branches. He believes the banking industry is well positioned to grow. “For HDFC the biggest gain will be access to well-diversified low-cost funding and a huge customer base of HDFC Bank Ltd …The proposed merger will enable HDFC Bank to build its housing loan portfolio. The housing loan market is at the cusp of a strong up-cycle along with tailwinds for the real estate sector, and it provides a steady secured asset class with very attractive risk-adjusted returns. This will increase the balance sheet size of the merged entity enabling it to underwrite large ticket size loans,” said Santosh Meena, head of research, at Swastika Investmart. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/hdfc-bank-hdfc-merger-news-makes-shareholders-richer-by-over-1-lakh-crore/articleshow/90638471.cms">HDFC Bank-HDFC merger news makes shareholders richer by over ₹1 lakh crore</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/rally-in-adani-group-companies-not-only-made-gautam-adani-indias-richest-man-but-also-made-a-fortune-for-its-investors/articleshow/90638038.cms">Rally in Adani Group companies not only made Gautam Adani India’s richest man, but also made a fortune for its investors</a>

Analysts suggest buying HDFC Bank shares on every dip as merger to strengthen housing loan portfolio

<ul><li>HDFC, India’s leading life insurance company has invested in ‘Z3Partners Tech Fund ’ – a tech and digital investment focused Venture Capital (VC) fund.</li><li>Z3Partners wants to build a portfolio of 8-10 companies</li><li>Z3Partners is raising ₹500 crore for the Z3 Partners Tech Fund.</li><li>The fund invests ₹35 crore –₹80 crore at the early growth stage of a digital start-up.</li></ul> HDFC Life, one of India’s leading life insurance companies, has invested in Z3Partners’ new fund named ‘Z3Partners Tech Fund’, a tech and digital investment focused Venture Capital (VC) fund. The fund will invest in and nurture tech and digital entrepreneurs in India. Z3 Partners, which is currently raising this fund of ₹500 crore, has already backed start-ups like Cyfirma, Gramophone, Shipsy, and <keyword id="14425266" type="General" weightage="20" keywordseo="true-fan" source="Orion">True-Fan</keyword>. Z3Partners was founded by Gautam Patel, whose prior investments include <keyword id="14425267" type="General" weightage="20" keywordseo="bigbasket-medgenome-ofbusiness" source="Orion">BigBasket, MedGenome, OFBusiness</keyword> and <keyword id="864887" type="General" weightage="20" keywordseo="pepperfry" source="Orion">Pepperfry</keyword>. Z3Partners invests in market-leading tech and digital start-ups. The fund announced its second close of ₹250 crore last year and is on track for the final close this year. “We are excited to have HDFC Life onboard for this journey to invest in the best tech and digital companies that are backed by world-class entrepreneurs. We believe this endeavor will translate into providing support and leadership to the Indian start-up ecosystem,” Patel said. Z3Partners has invested in the unicorn DealShare and is looking to create a portfolio of 8-10 companies in fintech. The tech fund invests ₹35 crore - ₹80 crore in the early stages of the shortlisted companies. SEE MORE: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/unacademy-shuts-down-global-test-prep-business-ceo-opts-for-a-pay-cut/articleshow/92806222.cms">Even with ₹2,800 crore in bank, we are not efficient at all: Unacademy’s Gaurav Munjal</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/news/indian-policy-makers-are-not-happy-that-8-out-of-10-upi-transactions-are-being-done-through-phonepe-and-google-pay/articleshow/92804434.cms">Indian policy makers are not happy that 8 out of 10 UPI transactions are being done through PhonePe and Google Pay</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/tcs-tumbles-and-drags-down-to-wipro-infosys-tech-mahindra-and-ltts-with-poor-earnings/articleshow/92795039.cms">TCS tumbles and drags down to Wipro, Infosys, Tech Mahindra and LTTS with poor earnings</a>

HDFC Life invests in tech fund to support digital entrepreneurs in India

Kotak Flexicap Fund: Too big to be flexible?

<ul><li>India’s benchmark indices <keyword id="6484188" type="General" weightage="20" keywordseo="sensex" source="Orion">Sensex</keyword> and <keyword id="2931774" type="General" weightage="20" keywordseo="nifty50" source="Orion">Nifty50</keyword> surged in morning trade on Thursday amid positive cues in global markets. </li><li>The gains were led by stocks in the banking and metal sectors. </li><li>Both Sensex and Nifty50 were up by 0.3%, with Sensex hovering at 61,742 points and Nifty50 at 18,230 points.</li></ul>India’s benchmark indices Sensex and Nifty50 surged in morning trade on Thursday amid positive cues in global markets. The gains were led by stocks in the banking and metal sectors. Both Sensex and Nifty50 were up by 0.3%, with Sensex hovering at 61,742 points and Nifty50 at 18,230 points. Top gainers and losers on Nifty50 <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top gainers </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Change </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top losers </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Change </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bajaj Finance </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.43% </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Divi's Laboratories </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-3.24% </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Axis Bank </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.21% </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Adani Ports &amp; SEZ </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-1.64% </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">JSW Steel </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.07% </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Eicher Motors </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-0.91% </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">HDFC Life </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.90% </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Hindustan Unilever </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-0.77% </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Hindalco Industries </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.78% </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">M&amp;M </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-0.69% </td></tr></tbody></table> Source: NSE, as on May 18, 2023 Earlier on Wednesday, markets lost momentum and closed the day in the red as metals, realty and IT stocks dragged the indices down. Gold prices edged lower to ₹60,100 per 10 grams while silver was hovering at ₹72,700 per kilogram. Crude oil prices edged up, with Brent crude hovering at $77 per barrel. <cmsannotation type="cmsannotation" annotationid="Optimism on debt ceiling drives markets up" comment="subhead" text="Optimism on debt ceiling drives markets up">Optimism on debt ceiling drives markets up</cmsannotation> Optimism about the US revising the debt ceiling upwards and not defaulting drove the US markets on Wednesday. While the Dow Jones closed 1.24% up on Wednesday, S&amp;P 500 gained 1.19%. The tech-heavy Nasdaq rallied 1.28%. Asian markets were in the green on Thursday morning, with Nikkei 225 gaining 1.44%, followed by Hang Seng which was up 1.42%. Taiwan Weighted rallied 1.1%, followed by Shanghai Composite which was up 0.66%, while KOSPI gained 0.54%. <cmsannotation type="cmsannotation" annotationid="Stocks to watch" comment="subhead" text="Stocks to watch"><keyword id="73648" type="General" weightage="20" keywordseo="stocks-to-watch" source="Orion">Stocks to watch</keyword></cmsannotation> Earnings today: <keyword id="13222" type="General" weightage="20" keywordseo="sbi" source="Orion">SBI</keyword>, <keyword id="6357073" type="General" weightage="20" keywordseo="itc" source="Orion">ITC</keyword>, InterGlobe Aviation, Tata Elxsi, GAIL India, United Spirits, Zydus Lifesciences, Ramco Cements, PI Industries, Gland Pharma, Bata India, RITES, PNB Housing Finance, Syrma SGS Technology, Clean Science and Technology, Thomas Cook (India) and Ujjivan Financial Services are among companies to release their quarterly earnings today. <keyword id="6357149" type="General" weightage="20" keywordseo="hdfc-bank" source="Orion">HDFC Bank</keyword>, HDFC: The RBI has approved asset management company SBI Funds Management’s proposal to acquire 9.99% stake in HDFC Bank. Currently, the AMC holds 5.07% stake in HDFC Bank and 3.79% stake in HDFC. Adani Group: The investment arm of Goldman Sachs Group reduced its exposure to Adani Group drastically in its ESG portfolios in the weeks following allegations of fraud by Hindenburg Research, as per Bloomberg report. Devyani International: The company which has the franchisee of KFC, Pizza Hut, reported a 20% fall in its net profit at ₹60.7 crore in March quarter while revenue rose 28% to ₹755 crore. PVR Inox: Following merger, the multiplex operator PVR Pictures has been renamed as PVR INOX Pictures. The merged entity operates 361 cinemas with 1,689 screens across 115 cities till FY23 in India and Sri Lanka. Vedant Fashions: Ravi Modi Family Trust, a promoter entity in the clothing brand Manyavar, has launched an offer for sale to slash its shareholding by 9.88%. The floor price for the OFS will be ₹1,161 per share, which is at a discount of 6.84% against the last closing price.

Sensex, Nifty50 surge in morning trade led by banking and metal stocks

ETFs performed better than actively-managed equity mutual funds in FY23

Top stocks: Here’s what the Big Boys bought between October and December

<ul><li>India’s biggest mutual fund houses added one common stock to their equity portfolio in July — <keyword id="830092" type="COMPANY" weightage="20" keywordseo="Zomato">Zomato</keyword>.</li><li>Shares of Zomato were listed on July 27 on BSE and NSE.</li><li>Top five mutual fund houses added 1-4 crore of Zomato stocks in July 2021.</li></ul>Top five mutual funds — <keyword id="164487" type="CITY" weightage="20" keywordseo="SBI-MF">SBI MF</keyword>, <keyword id="147682" type="COMPANY" weightage="20" keywordseo="HDFC-MF">HDFC MF</keyword>, <keyword id="163913" type="COMPANY" weightage="20" keywordseo="ICICI-Prudential-MF">ICICI Prudential MF</keyword>, <keyword id="4991077" type="PERSON" weightage="20" keywordseo="Aditya-Birla-Sun-Life-MF">Aditya Birla Sun Life MF</keyword> and <keyword id="283762" type="COMPANY" weightage="20" keywordseo="Axis-MF">Axis MF</keyword> have added one common stock to their portfolio in July — the newly listed food delivery firm Zomato. These five mutual fund houses comprise more than 55% of the industry’s total assets under management (AUM) of ₹35.31 lakh crore. Zomato was listed on exchanges on July 27 with a 51% premium. While some analysts believe that the valuation is too expensive for a loss making company, some feel it is a futuristic company and bound to grow. These large fund houses have bought more than a crore shares of the food delivery company in July. SBI Mutual Fund (MF) bought the highest at 4.24 crore shares followed by Axis Mutual Fund with 3.51 crore of Zomato stock. <table style="border-width: initial; border-style: none;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Top 5 fund houses </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Zomato shareholding (in crore) </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">SBI MF </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">4.24 </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">HDFC MF </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">1.83 </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">ICICI Prudential MF </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">1.38 </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Aditya Birla Sun Life MF </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">1.7 </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Axis MF </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">3.51 </td></tr></tbody><tbody></tbody></table> Meanwhile, there were three other initial public offerings (IPOs) as well, which debuted in July and opened with more than 90% premium on exchanges — Clean Science and Technology, GR Infraprojects and Tatva Chintan Pharma Chem. Shares of Clean Science and Technology were bought by HDFC MF, Axis MF and SBI MF. GR Infraprojects was picked by SBI MF, ICICI Prudential and HDFC MF and Tatva Chintan Pharma Chem was bought by Axis MF in July. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/tata-steel-announces-270-crore-annual-bonus-for-all-eligible-employees-for-2020-21/articleshow/85451559.cms">Tata Steel announces ₹270 crore annual bonus for all eligible employees for 2020-21</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/science/health/news/pfizer-and-astrazeneca-covid-19-vaccines-less-effective-against-delta-variant-according-to-study/articleshow/85451391.cms">Pfizer and AstraZeneca COVID-19 vaccines less effective against Delta variant, according to study</a>

You Searched For "hdfc fund portfolio" and got 12 results

Sensex, Nifty close lower amid massive selling in heavyweight stocks, mixed global cues

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Analysts suggest buying HDFC Bank shares on every dip as merger to strengthen housing loan portfolio

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