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This comes after Yum Restaurant India Private Ltd divested its entire 4.4 percent stake in the KFC operator, valuing the transaction at Rs 871 crore
SEBI’s ‘MF Lite’ regulations are said to have been approved by the regulator’s Mutual Fund advisory committee. These regulations will benefit mutual fund houses that only wish to launch passive funds and therefore do not require much oversight and tighter regulation.
SBI MF sold shares worth Rs 1,736 crore bringing its holding to 2.92%, while UTI MF sold shares worth Rs 508 crore. Meanwhile, Nippon MF and HDFC MF sold shares worth Rs 302 crore and Rs 205 crore, respectively, reducing its holding in Jio Financial Services to 4.6% and 2.3%.
They are off their sky-high valuations even if they are still not cheap, he says; is underweight on FMCG companies
Schemes of both fund houses to open on January 5; will mirror Nifty Auto Index to provide exposure to top companies representing auto and auto ancillaries.