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Sundaram MF to launch multi-factor fund; Crizac raises nearly ₹258 crore
Crizac on Tuesday allotted shares worth ₹258 crore to anchor investors. It allotted 10.53 million shares at ₹245 apiece to Societe Generale, Pinebridge Global Funds, Shamyak Investment Private Limited (Enam Group), Aryabhata India Fund (Abaccus Group), ICICI Prudential MF, among others. The company's ₹860 crore initial public offering (IPO) — which is entirely an offer for sale by promoters Pinky Agarwal and Manish Agarwal — opens for subscription on Wednesday.
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Business Standard
4 days ago
- Business Standard
Sundaram MF to launch multi-factor fund; Crizac raises nearly ₹258 crore
Sundaram Mutual Fund (MF) on Tuesday announced the launch of a multi-factor fund which will follow a rule-based strategy to invest across factors — quality, growth, momentum, value and size. The scheme, which has a universe of 250 largest companies, will invest in top 25 stocks within each factor. 'The diversification across multiple factors and intuitive logic of rules followed by the fund makes it efficient and transparent for investors,' said Anand Radhakrishnan, managing director, Sundaram AMC. The fund, benchmarked against the BSE 200 TRI, will be managed by Rohit Seksaria. Crizac on Tuesday allotted shares worth ₹258 crore to anchor investors. It allotted 10.53 million shares at ₹245 apiece to Societe Generale, Pinebridge Global Funds, Shamyak Investment Private Limited (Enam Group), Aryabhata India Fund (Abaccus Group), ICICI Prudential MF, among others. The company's ₹860 crore initial public offering (IPO) — which is entirely an offer for sale by promoters Pinky Agarwal and Manish Agarwal — opens for subscription on Wednesday.
Economic Times
27-06-2025
- Economic Times
Looking for narrative stocks? These four themes look promising: Anand Radhakrishnan
Live Events You Might Also Like: Expect positive trend as benefits of rate cuts & consumption boost trickle down: Anand Radhakrishnan You Might Also Like: FIIs to return in a big way post BTA with US; IT a big pick for next 18 months: Sunil Subramaniam (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel , MD,, says Indian markets show interesting trends. Sustainability efforts gain traction. Manufacturing , especially defence, sees strength. Premium goods and services experience rising demand. Technology-based disruption companies emerge in logistics, e-commerce and fintech. These new-age companies show volatility. But some establish strong market presence. Sustainability, premiumization , manufacturing, and technology disruption offer opportunities. These four themes look promising for the currently there are multiple themes in the market. One is on the sustainability theme where not only in India, but globally, there has been a concerted effort to push towards decarbonization, alternate energy, electrification, recycling, etc. In India also, some of the companies which have been engaged in these spaces generally have got some tailwind. Though at the margin we have seen some moderation in the global push towards sustainability because of various policy issues globally, we have seen that in the domestic market there is a reasonable continued tailwind on are other themes also which have been currently focused. One is on the manufacturing side; we have seen defence being a subset of the Atmanirbhar or Make for India theme. We have seen reasonable strength. The companies have been declaring good numbers on the manufacturing side, be it the industrial goods companies as well as defence manufacturing companies. Some of the companies that supply ancillaries and equipment to railways, have been declaring good numbers and have healthy order books. That theme continues to remain fairly third theme which we feel is gaining a little bit momentum is the so-called premiumization trend. As the income levels go up, the demand for goods and services especially on the premium end of the market has been going up – be it in automobiles, financial services, wealth management, apparel, retailing system, in short multiple sectors. The companies that are engaged in the manufacturing and the delivery of premium goods and premium services have been trending at a faster growth rate and that is why the companies are less volatile, their earnings more resilient and provide very good multi-year growth the fourth trend which we see in the market is the technology-based disruption companies, like Eternal, Swiggy, Policybazaar, etc. We also expect more companies in logistics, delivery systems, e-commerce, fintech, food tech and healthcare technology. Though some of these new-age companies tend to be more volatile, there is a lot of uncertainty around their profitability, the business models are nascent and evolving but some of them are pretty strong and have established a moat and footprint in the marketplace. So, we would remain very constructive. A combination of all these four themes, sustainability, premiumization, manufacturing, and technology-based disruption look pretty interesting as the markets stand the earnings growth is little healthier as we go down the cap curve and largecap companies declared earnings growth are less than the mid and small-sized earnings growth. So, to that extent, one can justify a growth-led premium as we go down the cap curve. But growth is not the only reason why stock should value, there are stabilities, qualities, capital efficiency, transparency, there are many issues where we still have to justify why we should pay a significant premium to small we go down, while the growth gets more interesting, the valuations make it a very tight rope walk for us and therefore, we need to trade off between good growth companies which are valued very richly and moderate growth companies that are valued a lot more moderately in the marketplace. Yes, we are sacrificing growth for some margin of safety, but from a portfolio perspective, that is a very tricky trade off fund managers have to make while they are investing down the cap the largecap, we do see pockets of dull growth. For example, IT companies have been growing at low single digits and the visibility seems to be still very challenging for them. Some of the commodity companies continue to be volatile in earnings and there is no clear trend on global commodity prices which makes it tough for one to allocate big money. Similarly, the utility companies are little bit low growth. So, within the basket of largecaps, the proportion of moderately growing companies is very high whereas in the mid and small-sized stocks, we see the breadth being pretty healthy, more point on valuation is growth-led valuation, and the other is liquidity-led valuation. As we speak today, the mid and smalls-sized companies seem to be predominantly supported by the domestic investors, not so much by the foreign institutional investors per se. We need to be a little careful and watchful of the domestic liquidity conditions.
Time of India
27-06-2025
- Time of India
Looking for narrative stocks? These four themes look promising: Anand Radhakrishnan
Anand Radhakrishnan , MD, Sundaram Mutual Fund , says Indian markets show interesting trends. Sustainability efforts gain traction. Manufacturing , especially defence, sees strength. Premium goods and services experience rising demand. Technology-based disruption companies emerge in logistics, e-commerce and fintech. These new-age companies show volatility. But some establish strong market presence. Sustainability, premiumization , manufacturing, and technology disruption offer opportunities. These four themes look promising for the markets. There are a lot of themes in this market, solar, EV, defence. They are called narrative stocks . Where are these strong narratives moving because that is where a lot of fresh money is moved into defence stocks , railway stocks, solar stocks and EV stocks? Anand Radhakrishnan: Yes, currently there are multiple themes in the market. One is on the sustainability theme where not only in India, but globally, there has been a concerted effort to push towards decarbonization, alternate energy, electrification, recycling, etc. In India also, some of the companies which have been engaged in these spaces generally have got some tailwind. Though at the margin we have seen some moderation in the global push towards sustainability because of various policy issues globally, we have seen that in the domestic market there is a reasonable continued tailwind on that. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Alarmes Esse novo alarme com câmera é quase gratuito em Barra Mansa (consulte o preço) Alarmes There are other themes also which have been currently focused. One is on the manufacturing side; we have seen defence being a subset of the Atmanirbhar or Make for India theme. We have seen reasonable strength. The companies have been declaring good numbers on the manufacturing side, be it the industrial goods companies as well as defence manufacturing companies. Some of the companies that supply ancillaries and equipment to railways, have been declaring good numbers and have healthy order books. That theme continues to remain fairly strong. The third theme which we feel is gaining a little bit momentum is the so-called premiumization trend. As the income levels go up, the demand for goods and services especially on the premium end of the market has been going up – be it in automobiles, financial services, wealth management, apparel, retailing system, in short multiple sectors. The companies that are engaged in the manufacturing and the delivery of premium goods and premium services have been trending at a faster growth rate and that is why the companies are less volatile, their earnings more resilient and provide very good multi-year growth opportunities. Finally, the fourth trend which we see in the market is the technology-based disruption companies, like Eternal, Swiggy, Policybazaar, etc. We also expect more companies in logistics, delivery systems, e-commerce, fintech, food tech and healthcare technology. Though some of these new-age companies tend to be more volatile, there is a lot of uncertainty around their profitability, the business models are nascent and evolving but some of them are pretty strong and have established a moat and footprint in the marketplace. So, we would remain very constructive. A combination of all these four themes, sustainability, premiumization, manufacturing, and technology-based disruption look pretty interesting as the markets stand today. Live Events You Might Also Like: Expect positive trend as benefits of rate cuts & consumption boost trickle down: Anand Radhakrishnan The valuations for the broader end of the market continues to remain higher than their historical averages and barring the last couple of trading sessions, we have seen outperformance from the SMID basket. Where do you believe the broader end is placed in terms of valuations and what is your outlook on large versus the SMID stocks ? Anand Radhakrishnan: Clearly the earnings growth is little healthier as we go down the cap curve and largecap companies declared earnings growth are less than the mid and small-sized earnings growth. So, to that extent, one can justify a growth-led premium as we go down the cap curve. But growth is not the only reason why stock should value, there are stabilities, qualities, capital efficiency, transparency, there are many issues where we still have to justify why we should pay a significant premium to small companies. As we go down, while the growth gets more interesting, the valuations make it a very tight rope walk for us and therefore, we need to trade off between good growth companies which are valued very richly and moderate growth companies that are valued a lot more moderately in the marketplace. Yes, we are sacrificing growth for some margin of safety, but from a portfolio perspective, that is a very tricky trade off fund managers have to make while they are investing down the cap curve. Within the largecap, we do see pockets of dull growth. For example, IT companies have been growing at low single digits and the visibility seems to be still very challenging for them. Some of the commodity companies continue to be volatile in earnings and there is no clear trend on global commodity prices which makes it tough for one to allocate big money. Similarly, the utility companies are little bit low growth. So, within the basket of largecaps, the proportion of moderately growing companies is very high whereas in the mid and small-sized stocks, we see the breadth being pretty healthy, etc. One more point on valuation is growth-led valuation, and the other is liquidity-led valuation. As we speak today, the mid and smalls-sized companies seem to be predominantly supported by the domestic investors, not so much by the foreign institutional investors per se. We need to be a little careful and watchful of the domestic liquidity conditions. You Might Also Like: FIIs to return in a big way post BTA with US; IT a big pick for next 18 months: Sunil Subramaniam
