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The mid cap schemes are benchmarked against Nifty Midcap 100 - TRI, Nifty Midcap 150 - TRI, and S&P BSE 150 MidCap - TRI. Nifty Midcap 100 - TRI, Nifty Midcap 150 - TRI, and S&P BSE 150 MidCap - TRI lost around 3.07%, 2.96%, and 2.85%. On an average the benchmarks lost around 2.94% on Tuesday.
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Around 24 mid cap schemes have completed three years of existence in the market. Out of these 24 mid cap schemes, eight schemes have underperformed against their benchmarks for consecutive three years. Note, we have included only schemes that have failed to beat their benchmarks in three consecutive years starting from 2020 to 2022.
This gains significance as CNBC-Awaaz had earlier reported citing sources that promoter Hulst BV was looking to offload its entire 26 percent stake in the company.
We have seen big action in Manappuram Finance too, which declined 2.64 percent to Rs 142.25 with multi-fold jump in volumes.