&w=3840&q=100)
Equity MF schemes may soon be allowed to dabble in gold and silver
Listen to This Article
Equity mutual fund (MF) schemes may soon be allowed to dabble in gold and silver, if the market regulator's new categorisation framework is finalised.
Some believe this will provide fund managers with greater flexibility to navigate market volatility during periods of uncertainty, while others argue the move could introduce complexities, particularly with respect to the comparison of scheme performance.
Currently, equity schemes must mandatorily invest 65-80 per cent of the corpus in equities. The rest can be invested in a mix of equity, debt, and Real Estate Investment Trusts (REITs) and Infrastructure Investment Trusts (InvITs).
In a consultation paper on
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
an hour ago
- Time of India
ED probes Anil's RHFL for writing off Rs 7k cr loans to group firms
NEW DELHI: As the ED sifts through voluminous documents and digital records seized from Anil Ambani 's Reliance group entities during searches, which began on July 24 and concluded on Sunday, the agency, in particular, is looking at alleged diversion of Rs 12,000 crore loans by Reliance Home Finance Ltd (RHFL) to various related entities. ED is being assisted in its task by National Financial Reporting Authority, CBI, Security and Exchange Board of India (Sebi) and National Housing Bank, since it involves misappropriation of huge public funds. At least a dozen related entities of the group are currently undergoing insolvency proceedings, which means massive haircuts for banks. Sources said 22 individuals, who are key management personnel and associates of Ambani, have come under the radar of the agency and are being investigated, besides the 60 companies that were covered during the searches lasting over 72 hours. A Sebi investigation report (shared with ED) has highlighted alleged laundering of funds by RHFL, which had written off around Rs 7,000 crore out of the Rs 12,000 crore of loans it had extended to various entities linked to the Anil Ambani group. Ambani is already under investigation for his group entity RHFL availing funds of Rs 2,965 crore from Yes Bank by allegedly paying bribes to its former CEO Rana Kapoor through his wife Bindu Kapoor and her companies. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Do You Speak English? You May Be Able To Work a USA Job From Home in Bangladesh US Jobs | Search ads Undo Rs 1,353 crore of the Rs 2,965 crore received from Yes Bank has turned into NPA. A forensic audit, commissioned by the bank, has also concluded diversion of this amount to related companies. Reliance Power and Reliance Infrastructure, in identical statements, said, "The company and all its officials have fully cooperated and will continue to cooperate with the authority". On the alleged diversion of Rs 12,000 crore by RHFL to related entities, a company official said, "The account of RHFL has been fully resolved with change in management pursuant to the judgment of SC in 2023. ..Allegations of other irregularities are sub-judice and as a matter of fact, the Sebi order has been challenged before SAT (Securities Appellate Tribunal) since 2024". "Sebi vide its order dated Aug 22, 2024, has found that RHFL has engaged in a fraudulent scheme to divert funds for the benefit of Ambani and his group companies," a source aware of the probe said. ED is probing related party transactions, in which it was found that Reliance Infrastructure had received funds from Crest Logistics and Engineers Pvt Ltd, which in turn had received funds from at least four entities - RPL Star Power Pvt Ltd, RPL Solar Power Pvt Ltd, Species Trade and Commerce Pvt Ltd and Worldcom Solutions Ltd - all of them allegedly linked to the Anil Ambani group. According to the Sebi investigation report, the forensic audit of RHFL found that "loans of more than Rs 12,000 crore have been extended to various entities which are linked to the Anil Ambani group. These companies had a common registered address, email ID/domain, address and directors". The Sebi report further revealed that as on Sept 30, 2021, Rs 6,931 crore had been declared as NPA/written off by RHFL out of loans extended to linked/associated entities of the group.
&w=3840&q=100)
Business Standard
5 hours ago
- Business Standard
Lenskart gets shareholder approval for $250 million IPO fundraise
Indian eyewear retailer Lenskart secured shareholder approval to raise $250 million through a fresh share issue, setting the stage for a public offering that could reach $1 billion, including existing investor sales, according to sources. It is aiming for an IPO valuation of about $10 billion. 'The company got approval for the $250 million IPO fundraise. The offer for sale (OFS) would be decided later,' said a person familiar with the matter. The company plans to file its prospectus with the Securities and Exchange Board of India (Sebi) soon, joining a wave of technology startups—including trading platform Groww, e-commerce firm Meesho, and education company PhysicsWallah—that are preparing to go public in 2025. Lenskart's move comes as the $5 billion company—recently marked up to $6.1 billion by Fidelity—seeks to capitalize on robust growth in India's retail market. The Gurugram-based firm reported 43 per cent revenue growth to Rs 5,427.7 crore in FY24 from Rs 3,788 crore in FY23, while narrowing its losses by 84 per cent to Rs 10 crore in FY24 from Rs 63 crore in FY23. The IPO approval includes a pre-listing fundraising round of $51 million and a new employee stock plan covering 7.2 million shares. Lenskart operates more than 2,500 stores globally and is investing $200 million in a manufacturing facility in southern India. Lenskart continues to deepen its penetration in India while rapidly scaling its international presence, including in Southeast Asia and the Middle East. With a unique click-and-mortar business model, it is disrupting the eyewear industry by offering an omni-channel customer experience across online platforms, mobile applications, and stores. Globally and in India, Gurugram-based Lenskart competes with players such as Titan Eyeplus, Specsmakers, Vision Express, Warby Parker, and Italian eyewear conglomerate Luxottica Group.
India Today
7 hours ago
- India Today
Are corporates quietly leading India's climate transition? A researcher's perspective
Almost every day, we scroll past at least one news headline about climate change. Yet, how many of us truly grasp the magnitude of the risk it poses, not just to our environment, but to our economies, financial systems, and the corporate world? This is not just an environmental issue; it is a full-blown financial reckoning. And opinions about the depth and breadth of climate-related risks differ markedly across stakeholders, from heads of state and bureaucrats to fund managers and business RISK IS NOW A BUSINESS RISKTake, for instance, an eye-opening survey conducted in 2021 by Professors Johannes Stroebel and Jeffrey Wurgler of the NYU Stern School of 861 finance professionals, regulators, academics, and economists, they found that 73% of private sector professionals believed climate risks are undermined (underpriced) in financial markets, compared to 51% among academicians. The disparity in perception itself reveals a key challenge -- the market has yet to fully internalise climate risk. But how, one might ask, are climate and finance interlinked in the first place? What does 'climate risk' actually mean in financial terms?Is it merely the spectre of floods, droughts, and natural disasters? Or is there more to the story? The answer lies in the policy shifts playing out on the national is a committed signatory to the United Nations' Sustainable Development Goals (SDGs) and has made ambitious Nationally Determined Contributions (NDCs), including a pledge to source 50% of its electricity from non-fossil fuel sources by certainly. But for corporates, these noble climate pledges translate into hard compliance mandates, tighter disclosures, and operational restructuring, in essence, a new breed of operational the Business Responsibility and Sustainability Reporting (BRSR) framework mandated by SEBI for the top 1000 listed companies in must now disclose granular details about their energy consumption, carbon emissions, and sustainability practices. Climate compliance is no longer a corporate social responsibility initiative; it is gradually becoming a strategic pressure doesn't emanate solely from regulators. A more environmentally conscious breed of investors, consumers, and civil society actors are demanding surge in sustainable and responsible investing (SRI) is proof that environmental stewardship now carries market consequences. The upshot of all this?Companies are increasingly exposed to 'transition risk', i.e., the financial and operational fallout from a rapid move toward greener norms, policies, and runs parallel to 'physical risk', the traditional category encompassing the direct impact of climate-related disasters like cyclones, droughts, and extreme these twin risks are reshaping the contours of corporate decision-making in India. To empirically assess this behavioral shift, we conducted a comprehensive study of 1174 listed non-financial firms in India spanning 2005 to aim was simple yet urgent: Are Indian companies adapting to climate risk? If so, how? Our findings, recently published in Energy Economics, offer compelling energy consumption, which accounts for nearly 41% of total national energy usage (MoSPI 2021), is already being recalibrated in response to climate observed that firms facing higher climate vulnerability are significantly reducing their energy consumption. This isn't coincidental but a clear response to regulatory, reputational, and financial this response is asymmetric. Energyintensive firms are leading the charge, likely because they have more to lose from non-affiliated firms (those not part of large business groups) and those with robust corporate governance mechanisms show stronger climate quality plays a crucial role in steering firms toward long-term sustainability strategies, while business group affiliation may cushion the perceived impact of climate threats, thereby dulling the urgency to shift became more pronounced after the 2016 Paris Agreement, marking a tipping point in how Indian firms interpret and respond to climate policy course, reducing energy consumption is not without trade-offs. Firms face a strategic dilemma: inaction invites regulatory penalties and investor backlash, while aggressive energy cuts can impair productivity, output, and EFFICIENCY EMEREGES AS A STRATEGIC BUSINESS RESPONSEOur research reveals that firms are not merely cutting back; they are pursuing a strategic middle path, i.e., improving energy investing in technology upgrades and process optimisation, they are learning to generate more output with the same or lower energy not only mitigates emissions but also improves cost efficiency and long-term resilience. Notably, markets appear to be taking that demonstrate better energy efficiency attract higher valuations, suggesting that capital markets are beginning to reward green behaviour, an encouraging signal for the future of ESG investing in finds itself at a crossroads. As per the ND-GAIN index, it ranks 115th out of 187 countries in climate vulnerability. At the same time, it is poised to become the thirdlargest global over 76% of its energy needs in 2021 were met by coal and crude oil. This dichotomy, between environmental fragility and developmental urgency makes the role of Indian businesses absolutely state alone cannot carry the climate burden. The baton must also be passed to industry, not just to react, but to lead. Our research shows that this leadership is already emerging quietly and unevenly, but undeniably. While global climate diplomacy continues to be marred by political deadlock and insufficient commitments, as evidenced by India's rejection of the $300 million annual climate grant at COP29, terming it 'too little, too late', the real action may be unfolding catalyse this movement, government and regulatory support must keep disclosures, streamlined access to green finance, and predictable policy frameworks are critical to support companies that are willing to walk the talk.(THIS ARTICLE HAS BEEN CO-AUTHORED BY SHASHANK PRAKASH SRIVASTAV, DOCTORAL SCHOLAR, AND PROFESSOR M. KANNADHASAN, BOTH FROM THE INDIAN INSTITUTE OF MANAGEMENT RAIPUR)- Ends
