11 smallcap mutual funds offer over 35% SIP returns in five years
In the past five years, nearly half of all smallcap funds have delivered impressive SIP returns exceeding 35%.
Tech View: Nifty forms Inside Bar candle on the charts. Here’s how to trade on Wednesday
Nifty ended Tuesday’s session flat, forming an Inside Bar pattern on the daily chart. Analysts suggest that the near-term uptrend remains intact, with potential upside targets at 25,800 if it breaks above 25,400. Immediate support is seen at 25,100 levels. Traders are advised to watch for a breakout or dip for further direction.
SoftBank-backed OfBusiness plans up to $1 billion India IPO, exec says
OfBusiness, an Indian shopping website backed by SoftBank, plans a $1 billion IPO in the second half of 2025. The company is in talks with major banks to manage the offer. Proceeds will be used for debt repayment and business growth. OfBusiness targets a valuation between $6 billion and $9 billion.
Targeting 7%+ growth for next 2 decades: DEA secretary
The secretary called for “deepening and widening” the corporate bond market, expanding access to insurance, pension and capital market products, and improving the quality and efficiency of financial services that would reduce the intermediation cost.
Finance minister Nirmala Sitharaman asks ministries to set quarterly capex targets
Finance Minister Nirmala Sitharaman has urged various ministries and departments to speed up capital spending and set quarterly targets. In a series of meetings, she reviewed productive spending and asset creation across infrastructure sectors. Discussions included national highways, private capital attraction, and FY25 capex plans for Bharat Net and 4G mobile projects.
Indians see uncertainty ahead despite strong growth: Survey
A survey by Aditya Birla Sun Life Insurance reveals that despite India’s economic growth, salaried Indians face high uncertainty. Economic concerns like job loss and technological advancements such as AI are top worries. The survey highlights the need for substantial preparedness among the traditionally stable middle-class population.
Air traffic, Railways traffic and cargo and port cargo grew in July shows resilience of Indian economy
India’s domestic air passenger traffic grew by 7 per cent year-on-year in July 2024 to 1.30 crore passengers. The period saw disruption due to adverse weather and IT issues. Cargo handling reached 70.1 million metric tonnes, while Indian Railways’ freight traffic hit 129.6 MMT, thanks to dedicated freight corridors.
Govt to sell 6.78% stake in GIC Re via OFS, sets floor price at Rs 395/share
The issue, estimated at Rs 4,701 crore, opens for non-retail investors on Wednesday and for retail investors on Thursday. Employees can subscribe to 50,000 shares.
NSE indices shakeup to trigger $633 million inflows for 5 PSU stocks
Benchmarks use a straightforward rule of reward and reprimand for periodic asset adjustments: high-performing stocks are included, while underperformers are removed. This rebalancing ensures that an index accurately mirrors its intended market segment. The NSE Indices Committee has recently announced the September 2024 semi-annual reshuffle, impacting major indices.
Time ripe for next round of big reforms to attract manufacturers: Experts
Some experts suggested steps include creating world-class, export-oriented industrial hubs (where India is a laggard), ringing in favourable tax treaties with the country’s top trading partners, bolstering logistics infrastructure (including connectivity with ports), encouraging sector-specific skill development, targeting high-volume local production of capital goods and investing in smart manufacturing facilities.