The top performing mutual fund of the past one year is L&T Emerging Business Fund - Reg (G), giving a one month return of 4.18 per cent and one year return of 51.04 per cent.
In a bid to promote transparency, market regulator SEBI is likely to introduce regulations on the operations of mutual fund companies such as Value Research, and Morning Star.
Indian conglomerate Reliance Industries Limited (RIL) recaptured the status of the India's most valued company, after a period of two months, as the company outpaced Tata Group's Tata Consultancy Services on Friday, June 23, on the basis of market valuation.
The latest RBI data reported a hike in the gross fiscal deficit of all the states of India, surging to Rs 4,93,360 crore in FY16 from a Rs 18,790 crore in FY1991. While the states with the highest deficits were Uttar Pradesh, followed by Rajasthan.
Mumbai-based Indian conglomerate group, Essar group dodged its last obstacle to complete the sale of the group's Gujarat refinery to Russia's integrated oil major, Rosneft, as the group's lenders including the LIC, gave a green signal to the deal, according to the market reports.
The stocks which are expected to witness significant movement on June 27 are BHEL, Greaves Cotton Limited, SPML Infra Limited, Veto Switchgears and Labels and JK Cement Limited.
Indian benchmark indices NSE Nifty and BSE Sensex opened in the green, but soon thereafter, the indices plunged into the red zone due to profit booking in Friday’s trading session. NSE Nifty closed at 9,574, down by 55 points, settling below the 9600-mark, while BSE Sensex closed lower by 152 points at 31,138.
The multiplex companies are likely to get benefited post implementation of GST.
The top performing mutual funds of the week of June 19-23 was Edelweiss Gr China Equity Off-Shore Fund-Reg (G) of Edelweiss Fund, providing a return of 2.73 per cent in the week.
SBI ETF Nifty 50, the open-ended scheme from SBI mutual fund outpaced HDFC Equity to become the largest equity scheme of India. HDFC Equity had persistently maintained its position as the largest equity scheme of India for the past three years.
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