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Flexi-cap schemes, the second largest equity mutual fund category by assets, give fund managers the flexibility to invest in large-, mid- or small-cap stocks, depending on their outlook for the market.
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News and Media
The NSE Nifty tumbled 1.3% or 309.80 points to finish at 23,071.80. The BSE Sensex slumped 1.3% or 1,018.20 points to close at 76,293.60. The slump in the broader market was deeper with the Nifty Midcap 150 index tumbling 2.9% and the Smallcap 250 index 3.4%.
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News and Media
The Indian rupee strengthened by 64 paisa to 83.83 against the US dollar, marking its largest single-day gain since November 2022 due to significant intervention by the Reserve Bank of India. This move caused speculative dollar selling and stop losses for those expecting further depreciation.
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News and Media
Steel Authority of India (SAIL) reported a 66% drop in standalone net profit at Rs 142 crore for Q3FY25, compared to Rs 422 crore a year ago. Revenue rose 5% to Rs 24,490 crore. Expenses increased, and profit after tax fell 84% sequentially. SAIL Chairman emphasized a focus on boosting production and addressing import issues amid challenging market conditions.
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News and Media
The Reserve Bank of India has allowed asset reconstruction companies (ARCs) to raise equity capital by listing their shares in the market, providing an opportunity to enhance liquidity and investor base. This move comes as ARCs face challenges in raising capital amid competition from government-backed entities and stringent net worth requirements.
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News and Media
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