Quantum Mutual News Today

Gold prices have moved up sharply in recent times and outperformed the Nifty 50 over a 5-year period returning 17.39% against the Niftys return of 15.24%. However, it trailed over a 10-year period returning 9.02%, against the Nifty 50 return of 13.3%. Over the last three months, prices rose 19%, while over a year, they rose 22.8%.

A group led by a Bengaluru-based investment manager has contested ICICI Banks bid to delist its brokerage arm, ICICI Securities. Despite shareholder support for the merger, retail investors opposed it. The proposed swap ratio and alleged irregularities have sparked objections, with Quantum Mutual Fund urging legal action to protect minority interests.

In this edition of Moneycontrol Pro Panorama: Cocoa price graph turns vertical, February flash PMI shows India in a good position, current earnings trends hint at sustainablity, wait for a robust gig economy before taxing it, and more

Analysts, however, say upsides in these shares could be limited because of rising credit costs and rich valuations. Shares of UCO Bank soared 15.23% to an all-time high of ₹60.65.

"The steps to keep inflation under check could provide enough headroom for the RBI to cut interest rates, which will help long-term bonds in 2024, "said Pankaj Pathak, head of fixed income at Quantum Mutual Fund.

“While we did not expect any major announcements in this budget, the lower fiscal deficit coupled with higher capex outlay will aid continued momentum of India growth story. Both of these moves are enablers for a pickup in the private capex cycle,” says Ashish Gupta, CIO, Axis Mutual Fund

ET Mutual Funds spoke to mutual fund managers to find out what fund managers are expecting from the budget 2024.

Mutual fund industry players believe that mutual funds should be more tax friendly and brought in line with ULIPs. They also demand that the switch between different schemes is exempted from capital gains tax. Some also believe that the steps should be taken to unlock savings made in gold

"We expect the RBI to cut rates by 75 basis points from the latter part of the year 2024. Effectively, while the RBI rate cut could be 75 basis points, the 10-year yields could potentially fall by 100 basis points, from the current level of 7.2% to 6.2%," ICICI Securities analyst Sachin Jain said.

Price-to-Book ratio is a metric that investors use extensively to determine the valuation of a stock. It helps to understand if a stock is undervalued or overvalued. It is calculated by comparing the current market price of a stock with its book value. The book value is a measure of a companys total assets excluding its total liabilities.