IRDAI website back online after hour-long outage, users can now access all services at irdai.gov.in
The official website of the Insurance Regulatory and Development Authority (IRDAI) is back online that was inaccessible to its users for more than an hour on Tuesday. The site went down around 12 pm. If one tried to open the site, a message was appearing on the screen confirming the outage. IRDAI had said that it was working to restore the site as soon as possible. It had advised the users to check the site again in sometime.

HDFC Life launches health cover for Indian students studying overseas
The global student healthcare plan is designed for students in the 12-40 age bracket presently pursuing higher education abroad or aspire to pursue higher international education, the company said in a statement.

PNB MetLife announces launch of PMLI small cap fund in ULIP segment

The product is a Unit Linked Insurance Plan (ULIP) that gives policyholders the chance to invest in a diversified equity portfolio with a focus on small-cap companies. The fund will be available at a unit price of Rs 10 during the New Fund Offer (NFO) period from February 19, 2024, to February 29, 2024.

SEBI finds ₹2000 crore accounting and funds divergence issue at Zee Entertainment Enterprises, say reports
India's market regulator, the Securities and Exchange Board of India (SEBI), has unearthed a financial discrepancy exceeding $240 million or around ₹2,000 crore in the accounts of Zee Entertainment Enterprises, Bloomberg reported. This comes as another setback for the beleaguered media firm, occurring within a month of the collapse of its merger with Sony Group Corp's India unit.

Good News! EPFO adds 8.41 lakh new members during December 2023
Here is good news among the growing concern over rising unemployment in India. EPFO has added 15.62 lakh net members in the month of December, 2023, which is the highest in the last three months, according to EPFO’s provisional payroll data released today.

ETF turnover tops Rs 1 trillion for second year on the trot, shows data
The traded value has touched Rs 1.19 trillion so far in FY24, which is already twice the pre-pandemic volumes, as per the Nifty Passive Insights report. The data for December has been released with a lag.

Four entities settle AIF rule violation case with Sebi; pay Rs 15 lakh
Four entities settled a case with regulator Sebi, pertaining to breach of investment limit in a single company that led to violation of alternative investment fund (AIF) rules, after paying Rs 15 lakh towards settlement amount.The entities that settled the case are — Whitespace Alpha Trust, Whitespace Fund LLP, Praveen Dwarakanath and Ramaswamy Shivaraman.

Alpha is to do well on upside, mitigate impact on downside' : Nimesh Chandan, CIO of Bajaj Finserv AMC
Source Credit: The Financial Express

Active and passive funds are not competing, but complementary products, says Nimesh Chandan, CIO of Bajaj Finserv AMC. In an interview to Siddhant Mishra, he says when money is concerned it is not just about strategie4 but also the psychology of investors.

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'Investors should have balanced portfolio via flexicap, multicap funds'

What are the key factors that will guide the market this year?

Mutual fund folio sees uptick, 47L new accounts added in January
 

NFO Alert: Mahindra Manulife Mutual Fund launches Mahindra Manulife Multi Asset Allocation Fund; all you need to know
Mahindra Manulife Mutual Fund announced the launch of the Mahindra Manulife Multi Asset Allocation Fund. The scheme opened for public subscription on February 20, 2024, and will close on March 05, 2024. The scheme reopens for continuous sale and repurchase on March 15, 2024.

Swan Energy sets ₹703.29/share as floor price for QIP issue
Mumbai: Swan Energy has set a floor price of ₹703.29 per share for its qualified institutional placement of shares that is opening on Tuesday. The company is planning to raise up to ₹4,000 crore through the issue, and the proceeds will be used to reduce its debt and modernise the shipyard acquired through the takeover of Reliance Naval and Engineering under insolvency proceedings. The fund-raising committee will be meeting on February 26 to determine the issue price. businessline had reported last week that the QIP issue was scheduled to be launched on Tuesday.

Private equity firms at Svatantra Microfin's doorstep
Mumbai: Ananya Birla-led Svatantra Microfin Pvt. Ltd, India’s second largest microlender, is set to raise ₹2,000 crore from private equity firms Advent International and Multiples Private Equity, a person aware of the deal said. The Mumbai-based microfinance institution (MFI)will use the funds to expand and consolidate its growth, the person added, requesting anonymity. Queries sent to Svatantra, Multiples and Advent remained unanswered.

PSU stocks not very expensive, but private banks more favourable, says BNP Paribas’ Head of India Equities
The benchmarks Nifty and Sensex have been on a bull run for the past few days, scaling a new peak on Tuesday. This is significant, considering that 2024 started on a negative trend. Though markets are expected to be volatile in the coming months, especially with the upcoming General Elections, “the macro picture continues to remain resilient” despite some underlying risks, Abhiram Eleswarapu, Head of India Equities at BNP Paribas, told businessline. .

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