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Tag: equity

Adar Poonawalla to own Magma FinCorp via equity infusion

Adar Poonawalla to own Magma FinCorp via equity infusion

Finance
Adar Poonawalla controlled investment firm Rising Sun Holdings will buy a controlling stake in Magma Fincorp with an investment of Rs. 3,200 crore reflecting a gradual return of investor interest in non-banking finance companies, which lost charm since the collapse of infrastructure conglomerate IL&FS more than two years ago. The move will bolster the financing arm of the Poonawalla group, which runs Serum Institute, the world’s biggest vaccine maker. Poonawalla Finance, a small -time non-banking finance company based out of Pune will now surrender its licence only to consolidate the business into Magma FinCorp’s operations. Rising Sun will hold 60 percent ownership in the company with the latest equity capital infusion. Magma’s existing promoters including Sanjay Chamria and Mayank Po...
Equity and debt mutual funds witness massive outflows in January

Equity and debt mutual funds witness massive outflows in January

Finance
Equity and debt mutual funds registered heavy outflows in the month of January. While equity funds saw a drop in outflow numbers, there was a drastic outflow from debt mutual funds this time. Equity mutual funds saw net outflows worth Rs 9,253 crore, debt mutual funds saw investors pulling out Rs 33,408 crore in January. Hybrid fund categories finally saw inflows in January.The highest outflow of Rs 5,933 crore was seen from flexi cap funds. This might be attributed to the recent change in mandate and many schemes re-categorised in the space. This was followed by an outflow worth Rs 2,853.43 crore from large cap funds. Here’s a look at the data for January: Scheme Name Net inflow (+)/outflow(-) Multi Cap Fund 2,857.90 Large Cap Fund -2,853.43 Large & Mid Cap Fund -187.4...
‘Heavy inflows in equity ETFs and debt funds pushes mutual fund AUM up’

‘Heavy inflows in equity ETFs and debt funds pushes mutual fund AUM up’

Finance
A massive rally in the equity markets since May bringing in heavy inflows into equity ETFs and open-ended debt funds has helped mutual fund AUM grow 17 per cent to top the Rs 31-lakh-crore-mark in 2020, which is 1 percentage point lower than 2019, according to a report. During the year, the 44-player industry has added Rs 4.5 lakh crore to the AUM, while in 2019 it grew 18 per cent from Rs 22.86 lakh crore in 2018, when it had grown only 7.5 per cent, as per Crisil data. In 2017, the industry rallied 32 per cent and added over Rs 5.4 lakh crore in AUM. In the decade ending 2019, it had grown from Rs 8.52 lakh crore to Rs 27.6 lakh crore in 2019, an over three-fold jump. In December, the industry clipped at 3 per cent to take the overall AUM to Rs 31.02 lakh crore mark. "A buoyant run-up...
Gaurav Trehan to head KKR India’s private equity business

Gaurav Trehan to head KKR India’s private equity business

Finance
Mumbai: Global buyout major KKR on Monday said Gaurav Trehan, a recent hire from rival TPG, is taking over as the head of its private equity business in India. KKR India chief executive Sanjay Nayar, who has been with the private equity fund since 2009, will transition to a new role as the chairman, an official statement said. Trehan joined KKR earlier this year from TPG Capital Asia, where he was a partner in the India office. He will head KKR's private equity business in India. "We are grateful to Sanjay for his role in establishing our business in India, partnering with and empowering local entrepreneurs to build their businesses into local and global champions, making KKR a leading investor in India, and helping to grow our Asia Pacific business," Joseph Bae, KKR's co-president and ...
Investor wealth drops Rs 3.30 lakh crore as equity markets tank

Investor wealth drops Rs 3.30 lakh crore as equity markets tank

Finance
New Delhi: Investor wealth on Tuesday fell by Rs 3,30,408.87 crore after equity markets came under heavy selling pressure following sell-off in global stocks as rout in crude oil hit investor sentiment. The Sensex tumbled 1,011.29 points, or 3.20 per cent, to close at 30,636.71. Led by the sharp fall in the index, the market capitalisation of the BSE-listed companies dropped Rs 3,30,408.87 crore to Rs 1,20,42,172.38 crore. "After the US crude oil crash, Indian markets, in sync with global markets traded negatively, as the extent of the impact of lockdowns and the global slowdown is becoming evident. Corporate earnings have also been impacted by the pandemic related shutdowns. Post-earnings management guidance has also not given clear indication about the recovery path," Vinod Nair, head of...