RCap administrator opposes Rs 118 cr payout to Reliance General Insurance officials
Reliance Capital’s (RCap) central bank-appointed administrator has opposed the decision of Reliance General Insurance Company Ltd (RGIC) board to make a one-time special payment of Rs 118.41 crore to key managerial staff and directors of RGIC.

LIC receives income tax refund order of Rs 25,464 crore, bid to realise amount in current quarter
 

Sundaram AMC appoints Radhakrishnan as CEO
Mumbai: Sundaram Asset Management has appointed Anand Radhakrishnan as CEO. Anand was earlier a part of the company for eight years from 1996 to 2004. He previously served as Managing Director & CIO (Equity) at Franklin Templeton India.

Gold ETF inflows jump over 7 times as global uncertainty lingers
Mumbai: Inflows in gold exchange traded funds increased sharply to ₹657 crore in January against ₹88 crore in December as the uncertainty over the US Fed cutting interest lingers apart from global economic uncertainty. The inflows was also aided by the launch of Tata Gold Exchange Traded Fund which garnered about ₹6 crore last month.

Mirae Asset Mutual Fund forays into smallcap space, launches 2 NFOs
Mirae Asset Mutual Fund has announced India’s first Multi factor-based ETF on Nifty Smallcap250 Index, ‘Mirae Asset Nifty Smallcap 250 Momentum Quality 100 ETF’, an open-ended scheme replicating/tracking Nifty Smallcap 250 Momentum Quality 100 Total Return Index, and the ‘Mirae Asset Nifty Smallcap 250 Momentum Quality 100 ETF Fund of Fund’, an open-ended fund of fund scheme investing in units of Mirae Asset Nifty Smallcap 250 Momentum Quality 100 ETF.

Kotak Mahindra Mutual Fund launches Kotak Technology Fund; all you need to know
Kotak Mahindra Mutual Fund announced the launch of the Kotak Technology Fund, an open-ended equity scheme investing in technology and technology-related sectors.

Mutual funds: What are ESG sub-categories allowed as per Sebi framework? MintGenie explains
If you want to invest in the high-performing mutual funds, while being true to your moral compass at the same time —  you can explore a category known as ESG, or environmental, social and governance. 

HDFC Mutual Fund rolls out campaign ‘Seekh’
HDFC Mutual Fund has rolled out its ad film ‘Seekh’. As per the company, the film is an extension of the highly successful ‘Zindagi Ke Liye SIP’ campaign launched last year. The ad film highlights the ease of investing in mutual funds through a Systematic Investment Plan (SIP).

Should investors lap up or ignore SBI Energy Opportunities Fund?
India’s energy landscape seems to be getting some fairly deserved attention, particularly from fund houses. India’s largest fund house—SBI Mutual Fund—recently launched a thematic fund focused on the energy space. The SBI Energy Opportunities Fund will invest in stocks that belong to the energy sector to take advantage of rising energy demand.

Aion Cap in talks with bankers to exit investment in Clix Cap
Aion Capital, a fund of US-based private equity (PE) firm Apollo Global Management, has started the process of exiting non-bank lender Clix Capital Services, two people aware of the matter said. Aion Capital was wound down in 2020, and Clix is one of the last investments in its portfolio.

The next few months are likely to see increased volatility: Shiv Sehgal
Source Credit: Puneet Wadhwa, Business Standard

New Delhi: Larger ecosystem still needs to evolve to have the right round-the-clock infrastructure for risks, operations and compliance for the extended trading hours to be successful and operational effectively, said SHIV SEHGAL, president and head of Nuvama Capital Markets, in telecon with Puneet Wadhwa on the sidelines of 19th edition of Nuvama India Investor Conference.

Edited excerpts

PE majors Blackstone, ChrysCapital join race to buy Healthium Medtech

This would cost the acquirer around Rs 6,000 crore. The company is one of the largest manufacturers of surgical needles and sutures in the global market. Apax Partners, the current owner, is selling the company to cash in on the high valuations commanded by medical-device firms.

Mid-, small-cap, PSU stocks wilt under selling pressure
Equities across the board fell on Monday, amid profit taking. The fall was more deep in mid- and small-cap stocks, while public sector undertakings wilted under valuation concerns, said analysts. Besides, margin call also triggered selling, they added.

Sovereign Gold Bond Scheme 2023-24: New series opens for subscription at ₹6,263/gm; apply online for discount
The next tranche of Sovereign Gold Bond opens for subscription on 12 February, with an issue price of ₹6,263 per gram, according to the Reserve Bank of India (RBI). The Scheme will be open for subscription until 16 February. The Sovereign Gold Bond Scheme 2023-24 - Series IV will be open for subscription during February 12–16, 2024.

India bond yields dip before key inflation prints
Indian government bond yields trended marginally lower in early trading on Monday as the focus shifted to local as well as U.S. inflation prints due this week, while state debt supply undershot estimates yet again. India’s benchmark 10-year yield was at 7.0939% as of 10:00 a.m. IST, following its previous close of 7.1067%. The yield rose 5 basis points (bps) last week, the most since the week ended Jan. 5.