Business

Mumbai: Open-ended equity mutual fund inflows rose 3.03% to Rs 38,239 crore in August on the back of strong demand for small-cap and mid-cap funds, taking industry-wide assets under management past the Rs 66.7 lakh crore mark in the month under review from Rs 64.96 trillion in the previous month. The Nifty50 gained 1.14% during the month under review, while the benchmark Sensex rose marginally by 0.76%. Despite the muted performance of equity markets, investments surged led by large-cap funds, which attracted net inflows of Rs 2,636.86 crore in August, a 293% jump over July. Inflows into small-cap funds rose 52% to Rs 3,209.33 crore and net inflows into mid-cap funds rose 86% to Rs 3,054.68 crore, according to the latest data released by industry lobby Association of Mutual Funds of...

Paytm share price continued to rally for the second consecutive day, gaining over 8% on Tuesday amid heavy buying. Paytm shares rose 8.23% to ₹ 679.70 on the BSE. The shares of One97 Communications, the parent company of fintech giant Paytm, continue to rise. Paytm's share price has risen by more than 13% in a week and more than 33% in a month. Paytm's share price has jumped more than 74% in the last three months. Moreover, Paytm share price is now up nearly 120% from its 52-week low of Rs 310 per share on May 9, 2024. On August 28, Paytm declared that it had received approval from the Finance Ministry to invest in its payments services business. With this approval, Paytm Payments Services Ltd (PPSL) will proceed to resubmit its payment aggregator application. In the meantime,...

It said that during the year under review, 800 daily flights were operated, including to 55 domestic and 44 international destinations, carrying 40.45 million passengers.Tata Group-owned Air India's loss narrowed by 60 per cent to Rs 4,444.10 crore in FY2024 compared to the previous year, according to Tata Sons' annual report for 2023-24.The airline had reported a loss of Rs 11,387.96 crore in FY2013, the annual report said.The report said that the turnover during the year under review increased by 23.69 percent to Rs 38,812 crore as against Rs 31,377 crore.The group is strengthening its aviation presence with the merger of AirAsia India (AEX Connect) with Air India Express and the ongoing merger of Vistara with Air India, the report said.It also said Air India recorded its highest-ever c...

HDFC Bank has revised its marginal cost lending based interest rates (MCLR) with effect from Saturday i.e. 7th September. Now, MCLR based lending rates will be in the range of 9.10 to 9.45 percent per annum.However, the MCLR has been increased by 5 basis points only for a period of 3 months. Rates will remain the same for all other tenures. As the table below shows, the overnight MCLR rate is 9.10 percent and the one-month MCLR rate is 9.15 percent per annum.The three-month MCLR rate has now been increased from 9.25 percent to 9.30 percent. Six month MCLR is 9.40 percent. HDFC Bank website shows that the MCLR rate for all long tenures is 9.45 percent. What is MCLR? MCLR means marginal cost of funds based lending rates below which banks are not authorized to lend.In 2016, the Reserve...

New Delhi: Rating agency CRISIL said in a report released on Friday that the price of home-cooked food or thali declined in August due to low prices of tomatoes and broiler chicken.Vegetarian food prices fell 8% year-on-year (YoY) and 4% month-on-month (MoM) to ₹31.20 in August, while non-vegetarian food prices fell 12% year-on-year and 3% YoY. A sharp decline was observed. , As per the report, MoM has reduced the cost to ₹59.30.In comparison, in August last year, the price of a vegetarian thali was ₹34 and that of a non-vegetarian thali was ₹67.50. By July 2024, the prices had already reduced to ₹32.60 for a vegetarian and ₹61.40 for a non-vegetarian thali.A typical vegetarian meal includes roti, vegetables (onion, tomato, potato), rice, dal, curd and salad. In the non-vegetarian version...