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Wealth managers are offering Shapoorji Pallonji Group's $3.4 billion NCDs to high-net-worth individuals, requiring a minimum 10 crore investment in the secondary market. This move follows past volatility where smaller HNIs quickly exited positions. The current unrated tranche has less disclosure, aiming for patient capital and avoiding wide domestic HNI distribution.
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News and Media
Following the Reserve Bank of India's policy rate cut, several banks including HDFC, ICICI, IDFC First, and Kotak Mahindra have decreased fixed deposit interest rates by 10-35 basis points. Public sector banks like Canara Bank and Indian Bank have also adjusted their rates downwards. These adjustments reflect lenders' responses to the lower benchmark interest rates, impacting retail depositors.
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Equity mutual funds experienced a dip in inflows during May, falling to 19,013 crore as investors turned cautious amid high stock valuations. Despite this, SIP investments reached a record 26,688 crore. Debt funds saw outflows, while hybrid funds, particularly arbitrage funds, gained traction. Overall AUM for the mutual fund industry increased, driven by market gains.
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Nithin Kamath praised the Finance Ministry and NSE for clarifying SCRA rules, allowing brokers to invest their own funds freely. This regulatory shift will empower Zerodhas Rainmatter to allocate more capital directly to Indian startups without prior approvals.
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News and Media
Acme Solar stock: Acme Solar gained 18% in a month after reporting strong Q4 results, improved power generation, and a 55% rise in output. The firm expanded capacity to 2,806 MW and raised fresh equity via IPO, with analysts forecasting strong growth till FY28.
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News and Media
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