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A section of wealth managers points out that there has been rapid growth in the mutual fund industry, with 9.7 million new investors coming in the last 12 months. As valuations in equities are no longer cheap and with many first-time investors moving from bank deposits, the need for low-volatility products has multiplied.
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The lender posted a 5% growth in its net interest income to 5,347 crore. Meanwhile, the net interest margin for the quarter under review stood at 4.08%, down by 21 bps from 4.29% reported in the quarter last year.
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The Nifty FMCG Index plunged nearly 3%, its steepest single-day drop in 28 months after HUL's second-quarter results missed expectations, disappointing investors. Analysts anticipate continued margin pressure for consumer companies in the near term due to rising raw material costs and weak urban demand.
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News and Media
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