Independent research outfits provide stock advice to investors looking for under-researched investment recommendations but do not have the wherewithal to put 50 lakh at one go in Portfolio Management Services (PMS) or 1 crore in Alternative Investment Funds (AIFs).
To meet redemption requests, the overnight schemes don't have to make any sale transaction before market hours. Instead, these schemes, based on redemption requests, may decide not to reinvest the maturity proceeds to be received on T+1 settlement date.
Kotak shares, which closed at 1,920.5 on Monday, gained 7.5% in the past year and 17% in five years. The Bank Nifty rose 9.6% in one year and 58% in five years.
The 75,772-crore liquidity will be reversed on Tuesday. The move is aimed at easing the liquidity conditions and prevent the call money rates from shooting sharply above the current repo rate of 6.5%.
