The Mirae Asset Midcap Fund, launched on July 29, 2019, has delivered impressive returns for its investors. A monthly Systematic Investment Plan (SIP) of ₹10,000 has grown to ₹12.75 lakh over the past five years, reflecting an annualized return of 30.72%, according to Value Research.
Investors who made a lumpsum investment of ₹1 lakh at the fund’s inception have seen their investment rise…
An application has been filed in the Supreme Court urging the completion of the Securities and Exchange Board of India’s (SEBI) investigation into the Adani Group. This comes as SEBI approaches the end of its 24th and final case concerning the Adani-Hindenburg saga.
The petition, submitted by advocate Vishal Tiwari on August 13, 2024, highlights recent allegations by Hindenburg Research against…
The 54th GST Council meeting is set to take place on September 9, 2024, as announced by the government on Tuesday. This upcoming session follows the 53rd GST Council meeting held on June 22, 2024, chaired by Union Minister for Finance & Corporate Affairs Nirmala Sitharaman.
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Amendment to Section 112 of the CGST Act, 2017: The GST Council has proposed changes to extend the…
Global index provider MSCI has announced significant changes to its India Index for August, adding seven stocks while removing one. The additions include Rail Vikas Nigam Limited (RVNL), Vodafone Idea, Dixon Technologies, Oil India, Prestige Estates, Oracle Financial Services, and Zydus Lifesciences. Bandhan Bank will be the sole stock removed from the index. Additionally, MSCI will be increasing…
Sachin Bansal’s fintech company, Navi, has experienced remarkable growth on the Unified Payments Interface (UPI) platform, nearly doubling its transaction volume in July. Data from the National Payments Corporation of India (NPCI) shows Navi processed 68.5 million transactions in July, a significant increase from 35.7 million in June and just 3 million in March, marking a 22-fold growth in four…
Alphabet’s Google will host its annual Made By Google launch event on Tuesday, where major announcements are expected. The event will feature the introduction of Google’s latest smartphones, the Pixel 9 Pro and Pixel 9 Pro Fold, marking what the company describes as the dawn of a “new era of phones.” These new devices are anticipated to bolster Google’s position against Apple’s…
HealthCRED, a B2B healthcare financing startup, has raised $1.2 million in seed funding led by Antler India, TRTL VC, DeVC, iSeedVC, and Angel List India. The funding round also saw contributions from angel investors such as Subho Ray, President of the Internet and Mobile Association of India (IAMAI), and Nitin Gupta, CEO of Uni Cards.
The new capital will be used to expand HealthCRED’s…
A recent report by US-based short-seller Hindenburg Research has disclosed that mutual funds have invested nearly $5 billion (Rs 41,814 crore) across 10 Adani Group companies. The report indicates that except for New Delhi Television (NDTV), mutual funds have invested in every listed Adani Group company.
The investment breakdown shows that Adani Ports and SEZ has the highest mutual fund exposure…
Wealthtech startup Infinyte.Club has successfully raised $3.6 million (INR 30.2 crore) in its seed funding round, spearheaded by Elevation Capital. The funding round also featured investments from a prominent group of angel investors, including Kunal Shah, founder of CRED; Vidit Aatrey, cofounder of Meesho; Gaurav Munjal, CEO of Unacademy; Sanket Shah, CEO of InVideo; Varun Dua, founder of ACKO…
CreditAccess India BV, a Netherlands-based firm with a 66.56% stake in CreditAccess Grameen, is aiming for a $2.7 billion valuation for the microfinance company, according to a report by Mint. If successful, this deal would become the largest transaction in India’s $51 billion microfinance sector.
To facilitate the sale, CreditAccess India has enlisted investment banks Jefferies, Barclays…
