Tata BSE Quality Index Fund Files Draft with SEBI

Tata Mutual Fund has filed a draft for the Tata BSE Quality Index Fund with the Securities and Exchange Board of India (SEBI). The fund is an open-ended index fund designed to replicate or track the BSE Quality Total Return Index (TRI).

NFO Details

The New Fund Offer (NFO) details are as follows:

  • Fund Category: Other Schemes – Index Fund
  • NFO Period: Dates yet to be announced
  • Benchmark: BSE Quality Total Return Index (TRI)
  • Face Value: ₹10 per unit
  • Entry Load: Not applicable
  • Exit Load: 0.25% of NAV if redeemed within 15 days of allotment
  • Liquidity: Open for repurchase/sale at NAV-based prices on all business days

Investment Strategy

As per the filing, the fund’s objective is to provide returns before expenses that match the performance of the BSE Quality TRI, subject to tracking error. It will invest in the same stocks as the index in the same proportion. The scheme does not guarantee or assure any returns.

The fund will track the BSE Quality TRI, and its tracking error is expected to stay below 2%. The total expense ratio (TER) will not exceed 1% of the daily net assets.

  • Minimum Investment: ₹5,000 and in multiples of ₹1 thereafter
  • Additional Investment: ₹1,000 and in multiples of ₹1 thereafter
  • Minimum Redemption Amount: ₹500 or 50 units or balance, whichever is lower

Asset Allocation

  • 95%–100% in securities covered by the BSE Quality Total Return Index
  • 0%–5% in debt and money market instruments, including units of debt-oriented mutual funds

The fund may also invest in derivatives when index securities are unavailable or for rebalancing. 

Conclusion

Tata Mutual Fund, sponsored by Tata Sons Private Ltd and Tata Investment Corporation Ltd, will manage the scheme through Tata Asset Management Pvt. Ltd. The draft document also outlines taxation aspects, investor rights, and compliance with SEBI regulations.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

Mutual Fund investments in the securities market are subject to market risks, read all the related documents carefully before investing.

IRCTC and IRFC Earn ‘Navratna’ Status; IRFC Jumps Over 4%

The Government of India (GoI)  has granted Navratna status to Indian Railway Catering and Tourism Corporation (IRCTC) and Indian Railway Finance Corporation (IRFC). With this, IRCTC becomes the 25th and IRFC the 26th company to receive the status among Central Public Sector Enterprises (CPSEs). 

The upgrade was confirmed by the Department of Public Enterprises in a social media post.

Navratna Status 

Navratna status provides financial and operational autonomy to public sector enterprises. Companies with this designation can invest up to ₹1,000 crore or 15% of their net worth, in a single project without requiring prior government approval. They also gain the ability to form joint ventures, establish subsidiaries, and enter major partnerships independently.

CPSE Classification

The government classifies CPSEs into three categories: Maharatna, Navratna, and Miniratna. Navratna companies have big financial powers but fall below Maharatna CPSEs in terms of investment limits and autonomy. 

Other companies with Navratna status include Bharat Electronics Ltd (BEL) and Hindustan Aeronautics Ltd (HAL).

Financial Performance

For FY 2023-24, IRCTC, under the Ministry of Railways, reported:

  • Annual turnover: ₹4,270.18 crore
  • Profit after tax (PAT): ₹1,111.26 crore
  • Net worth: ₹3,229.97 crore

For the same period, IRFC, which finances railway projects, recorded:

  • Annual turnover: ₹26,644 crore
  • Profit after tax (PAT): ₹6,412 crore
  • Net worth: ₹49,178 crore

Market Reaction 

Following the announcement, as of March 4, 2025, at 11:16 AM, Indian Railway Catering and Tourism Corporation Ltd (IRCTC) traded at ₹675.50, down 0.16% for the day and 27.99% over the past year, while Indian Railway Finance Corporation Ltd (IRFC) was at ₹115.02 as of 11:17 AM, gaining 3.50% intraday but declining 20.98% over the past year.

IRCTC also declared a second interim dividend of ₹3 per share for FY 2024-25, with February 20, 2025, set as the record date for eligible shareholders.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.

Mahila Samriddhi Yojana: Delhi’s ₹2,500 Monthly Aid Scheme for Women Registration Opens March 8

The Bharatiya Janata Party (BJP) government in Delhi is to launch the registration process for its ₹2,500 monthly financial aid scheme Mahila Samriddhi Yojana for women from economically weaker sections on March 8. The initiative, introduced under the Mahila Samriddhi Yojana, was a promise in BJP’s election manifesto.

Mahila Samriddhi Yojana Timeline and Beneficiary List

BJP MP Manoj Tiwari confirmed that the registration process would begin on International Women’s Day, and the first installment is expected to be credited within one and a half months. A list of beneficiaries will be prepared, and eligible women have been urged to register promptly to avail of the assistance.

This initiative mirrors schemes from other BJP-ruled states, such as Madhya Pradesh’s Ladli Behna Yojana and Maharashtra’s Ladki Bahin Yojana. It also counters AAP’s ‘Mahila Samman Yojana’, which had promised ₹2,100 per month for women, had the party retained power in Delhi.

Mahila Samriddhi Yojana Eligibility Critera

While the exact eligibility criteria for the Mahila Samriddhi Yojana would depend on official government guidelines, based on similar financial assistance schemes, the likely criteria could include:

  1. Residency – The beneficiary must be a resident of Delhi.
  2. Gender – The scheme is exclusively for women.
  3. Age Limit – There may be an age criterion, such as 18 years and above.
  4. Income Criteria – The scheme may be targeted at economically weaker sections, requiring applicants to have a household income below a certain threshold.
  5. Bank Account – Women must have a bank account linked to Aadhaar for direct benefit transfer (DBT).

Conclusion

While the BJP maintains its commitment to fulfilling its election promises, clarity on the registration process and fund disbursement is still awaited. CM Rekha Gupta is expected to officially launch the scheme on March 8, outlining further details on the rollout.

With registrations set to begin soon, eligible women in Delhi are advised to stay updated on the application process to benefit from the initiative.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

BSE Midcap Index Kicks Off March on a Positive Note: A Look at Historical Trends

The BSE Midcap Index started the first trading session of March 2025 with a modest gain of 0.25%, outperforming the benchmark BSE Sensex. Market breadth for the midcap segment remained positive, with 19 stocks closing in the green, while 11 ended in the red. However, the broader trend over the past few months paints a different picture.

A Tough Start to 2025 for Midcaps

While March has begun on a slightly positive note, February 2025 was a challenging month for the BSE Midcap Index. The index recorded a sharp double-digit decline of over 10%, significantly underperforming the BSE Sensex. In the first two months of the calendar year 2025, the index has plunged by 17.6%, reflecting the heightened volatility in the midcap space.

Historical March Performance: What the Data Reveals

Examining past trends, the BSE Midcap Index has delivered an average return of 1.31% in March since 2009. Over the last decade, the index has alternated between gains and losses, closing positive in 5 years and negative in 5.

One of the standout performances was in March 2016, when the index recorded a double-digit gain of 10.90%. On the other hand, the steepest decline occurred in March 2020, when the index plummeted by 27.60% amid global market turmoil.

Conclusion: What Lies Ahead for March 2025?

Following consecutive sharp declines in January and February, investors are keenly watching whether the BSE Midcap Index can reverse its trend and post gains in March. While historical data provides insights, market movements remain subject to multiple factors, including broader economic conditions, corporate earnings, and global market sentiment. Only time will tell if March 2025 aligns with past positive trends or continues the recent downtrend.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.

Nifty Smallcap 100 Index PE Near 1-Year Low; Below 5-Year Long-Term Average!

The Nifty Smallcap 100 Index represents the small-cap segment of the Indian financial market, comprising 100 actively traded stocks listed on the National Stock Exchange (NSE). It is calculated using the free-float market capitalisation method, where the index level reflects the total free-float market value of all constituent stocks relative to a base market capitalisation.

This index serves multiple purposes, including benchmarking fund portfolios, the launch of index funds, Exchange-Traded Funds (ETFs), and structured financial products.

Recent Performance: A Period of Underperformance

The Nifty Smallcap 100 Index has witnessed a notable decline, underperforming the broader market:

  • It has fallen nearly 18% from its September 2024 peak.
  • In February 2025, the index dropped by 6.54%, lagging behind the Nifty 50.
  • On March 3, 2025, during the first trading session of the month, the Nifty Smallcap 100 Index declined by 0.27% (provisional basis).
  • Market breadth remained weak, with only 36 stocks advancing, while 64 stocks ended in the red.

Valuation Perspective: Analysing the PE Ratio

As of February 28, 2025, the Price-to-Earnings (PE) ratio of the Nifty Smallcap 100 Index stood at 25.2, marking its lowest level in the past 1, 3, and 6 months.

  • It is also near the lower end of the one-year PE range.
  • The 2-year average PE stands at 26.67, while the 5-year average PE is 28.13, indicating the current valuation is below these long-term averages.

Historical March Performance: A Balanced Track Record

An analysis of March month returns for the Nifty Smallcap 100 Index over the last 10 years reveals an equal probability of positive and negative returns.

  • In 5 out of 10 instances, the index delivered negative returns.
  • In the remaining 5 instances, the index registered gains.
  • The most notable double-digit gains were:
    • 11.97% in March 2016
    • 12.44% in March 2019
  • The steepest decline occurred in March 2020, when the index plunged by 36.66%, coinciding with the global market turmoil during the onset of the pandemic.

Conclusion

The Nifty Smallcap 100 Index has been in a phase of correction, underperforming broader indices in recent months. Its valuation is at a multi-month low, and historically, March returns have been evenly split between gains and losses. While past performance does not dictate future outcomes, historical trends and valuation metrics provide useful insights into its current positioning within the market.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.

Indian Equity Market Wipeout: ₹94 Lakh Crore Erased Amid Sensex Decline

The Indian stock market has witnessed a sharp downturn, erasing a massive ₹94 lakh crore in investor wealth over the past 5 months. The BSE Sensex, which touched an all-time high in September 2024, has since tumbled 13.5%, reflecting the widespread sell-off. So far in CY2025, the Sensex has declined 6.55%, bringing the market capitalisation of BSE-listed companies down to ₹384 lakh crore as of February 28, 2025, from a peak of ₹478 lakh crore in September 2024.

Key Drivers Behind the Market Sell-Off

The Sensex has seen a steep drop of 4,302 points, primarily attributed to:

  • Relentless selling by Foreign Institutional Investors (FIIs)
  • Mounting global economic uncertainty
  • Concerns over US tariff policies

These factors have collectively put immense pressure on Indian equities, leading to a prolonged market downturn.

March Market Trends: A Look at Historical Performance

The month of March has historically shown a mixed trend for the BSE Sensex. Since 2015, the index has closed in positive territory on 7 occasions, while it ended in the red three times.

Best and Worst March Performances in Recent Years:

  • Best March: 2016 saw the highest gain of 10.17% in the last decade.
  • Worst March: The COVID-19 market crash in 2020 led to a steep 23.05% decline.

Taking a broader view from 2009 onwards, the average returns for March stand at 1.56%.

Will March 2025 Offer Respite?

With the Sensex recording consecutive losses since December 2024, historical data suggests that March has often brought relief. However, past trends are not indicative of future performance. The trajectory of the Indian markets in March 2025 will largely depend on:

  • FII investment flows
  • Global market developments
  • Macroeconomic news and policy shifts

Conclusion 

While past data provides insight, the ever-evolving nature of the stock market underscores the importance of monitoring global and domestic cues for any potential recovery.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.

Nifty Bank’s Resilience Amid Market Volatility: How Will It Perform in March?

February proved to be a testing period for Indian markets, with the Nifty50 index witnessing a significant decline of 6%. However, Nifty Bank, which tracks the most liquid and large-cap banking stocks, displayed relative resilience, declining by only 2.51%. Despite this outperformance, the index extended its losing streak for the third consecutive month.

As a key benchmark for tracking the performance of the banking sector in India, Nifty Bank consists of a maximum of 12 companies listed on the National Stock Exchange (NSE). The index serves as a crucial indicator for investors and market participants assessing the capital market performance of Indian banks.

Market Performance on March 3, 2025: A Volatile Session

On March 3, 2025, Nifty Bank opened higher but struggled to break past the previous session’s high of 48,574.50 convincingly. On the downside, it momentarily dipped below its January swing low before bouncing back. By 2:36 PM, the index was down by 0.42%, yet it managed to hold above the crucial 48,000 level.

The market breadth reflected mixed sentiments, with 7 out of 12 banking stocks trading in the red, while 5 stocks showed gains. ICICI Bank and SBI played a key role in supporting recovery from lower levels, whereas HDFC Bank and Axis Bank exerted downward pressure on the index.

Historical Performance of Nifty Bank in March

A look at historical trends since 2015 reveals a varied performance for Nifty Bank in March. The index ended the month in negative territory on four occasions, including the steep 34.32% plunge in March 2020 during the COVID-19 crisis.

Conversely, there have been instances where Nifty Bank delivered impressive double-digit gains. Notably, in March 2016 and 2019, the index surged by 15.74% and 13.58%, respectively. This historical volatility raises a compelling question—will Nifty Bank rebound and end March 2025 in the green?

Conclusion 

While past performance offers insights, market movements depend on multiple factors, including macroeconomic developments, banking sector performance, and global market cues. Investors will closely watch whether Nifty Bank can break its losing streak and deliver a positive return this March.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.

Nifty50 Extends Decline Amidst FII Sell-Off: Can March Offer a Respite?

Despite a promising start to the first trading session of March, the NSE benchmark Nifty50 is struggling to sustain gains, trading 0.20% lower and slipping below the 22,100 mark as of 2:05 PM. The downward trajectory of Indian equities has persisted for several months now, with February marking the 5th consecutive month of decline—its longest losing streak since 1996.

February witnessed a sharp 6% fall in the Nifty50 index, making it the worst February performance since the COVID-19 crash. The sell-off was largely attributed to the “Trump factor,” triggering a broad-based decline across sectors, with IT, auto, and pharma stocks bearing the brunt of the downturn.

FIIs Sell-off, Intensifying the Downtrend

Foreign Institutional Investors (FIIs) played a significant role in February’s market volatility. On February 28 alone, FIIs sold off Indian equities worth ₹11,639 crore—their largest single-day outflow for the month. Throughout February, they remained net sellers, offloading stocks worth ₹34,574 crore in total.

Out of the 20 trading sessions in February, FIIs were net buyers on only two occasions—February 18, when they invested ₹4,786.6 crore in domestic equities, and February 4, when they purchased shares worth ₹809.2 crore. Their sustained selling pressure has significantly impacted market sentiment, exacerbating the ongoing correction.

Can March Reverse the Trend? A Look at Historical Data

Historically, March has often favoured the bulls. Since the COVID-19 crash in 2020, the Nifty50 index has delivered positive returns in every March. The strongest performance came in 2022, when the index rose by 3.99%.

Looking at a broader timeframe, since 2009, the Nifty50 has closed in the red during March on just five occasions, whereas in 11 instances, it ended with gains. The highest recorded return was 10.75% in 2016, reinforcing March’s historical tendency to be a recovery month for equities.

Key Economic Data to Watch in March

March is also a pivotal month, with several crucial economic indicators set to be released. Investors will closely monitor these data points, ahead of the RBI’s policy decision in April.

  • Industrial Production (IIP) & Consumer Price Inflation (CPI): Scheduled for release on March 12, these figures will offer insights into the health of the domestic economy.
  • Wholesale Price Inflation (WPI): Expected on March 14, this will be a key metric for gauging inflation trends and assessing potential policy measures.

Conclusion

As markets navigate ongoing uncertainties, these economic indicators, coupled with global developments, will play a crucial role in determining the trajectory of the Nifty50 in March.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.

HDFC Bank Share Price Falls 1.5%: A Historical Look at March Performance

HDFC Bank is the largest private sector bank in India in terms of both advances and deposits. As of Q2FY25, the bank’s net advances stood at ₹24,951 billion. With a vast retail presence, HDFC Bank holds a leading market share across various product lines. By the end of Q2FY25, the bank had an extensive network of 9,092 branches and a workforce of 2,07,000 employees.

HDFC Bank Share Price Movement

As of 1:07 PM on March 3, 2025, HDFC Bank’s share price was down by 1.52%. Despite this dip, the stock outperformed the Nifty50 index in February, delivering positive returns of 1.98%. However, on a year-to-date (YTD) basis, the stock has declined by 3.8% so far.

HDFC Bank has historically maintained a streak of positive annual returns, with the last negative yearly close recorded in 2013. Since then, the bank has delivered consistent gains, with the highest annual return of 55.23% seen in 2017.

March Performance: Historical Trends

Looking at its March performance over recent years, HDFC Bank’s share price has delivered positive returns between 2022 and 2024. However, during the COVID-19 pandemic in March 2020, the stock witnessed a sharp decline of 26.80%.

The stock’s 52-week high and low range stands at ₹1,421.25 and ₹1,880, respectively, reflecting its volatility in the given period.

Q3FY25 Financial Performance

HDFC Bank reported a 2.2% year-on-year (YoY) growth in its standalone net profit for the December 2024 quarter. The net profit stood at ₹16,736 crore, compared to ₹16,373 crore in the same period last year.

Net Interest Income (NII) Growth

For Q3FY25, the bank’s Net Interest Income (NII) grew by 7.7%, reaching ₹30,650 crore. This was an increase from ₹28,470 crore reported for Q3FY24.

Deposit Growth

The bank’s average deposits for the December 2024 quarter stood at ₹24,52,800 crore, marking a 15.9% YoY growth from ₹21,17,100 crore in the December 2023 quarter. Compared to the September 2024 quarter, deposits saw a 4.2% rise from ₹23,54,000 crore.

Asset Quality and Non-Performing Assets (NPAs)

HDFC Bank’s gross non-performing assets (GNPAs) stood at 1.42% of gross advances as of December 31, 2024. Excluding NPAs in the agricultural segment, the GNPA ratio was 1.19%. This was a slight increase from 1.36% in the September 2024 quarter.

Comparing YoY figures, the GNPA ratio stood at 1.26% in December 2023 (1.11% excluding agricultural NPAs). Meanwhile, net NPAs were recorded at 0.46% of net advances as of December 31, 2024.

Conclusion

HDFC Bank remains a dominant player in India’s banking sector, with a strong market presence and consistent financial performance. While its share price declined 1.5% on March 3, 2025, historical data suggests that the stock has maintained a track record of resilience. 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.

Advait Energy Transitions: Allotment of Equity Shares and Securing Major Contract

Advait Energy Transitions Limited (formerly Advait Infratech Limited) has announced the allotment of 19,261 equity shares pursuant to the conversion of previously issued warrants. This development follows an earlier announcement made on 6th September 2024 regarding the issuance of 1,41,591 convertible warrants at ₹1,776 per warrant.

The conversion has been executed following payment of the required balance amount, leading to an increase in the company’s issued and paid-up equity share capital. The new equity shares will rank pari-passu with existing shares in all respects.

The share price of Advait Energy Transitions was trading down by 7% as of 1:01 PM. 

Breakdown of Share Allotment

Two non-promoter entities have subscribed to the newly allotted equity shares:

Investor Category Shares Allotted
GKA Estates Non-Promoter 11,261
Kundalia Vatsal Bhavesh Non-Promoter 8,000

Following the allotment, the company’s total issued equity capital now stands at ₹10,81,98,540, consisting of 1,08,19,854 equity shares of ₹10 each.

Preferential Issue Details

  • The allotment was executed through preferential issue, a method that allows the company to issue shares directly to a selected group of investors.
  • The issue price per share was ₹1,776, including a premium of ₹1,766.
  • The conversion was completed as the company received ₹2,56,55,652 (₹1332 per warrant) as the balance amount.

Advait Energy Transitions Secures Emergency Restoration Systems Order

In a separate corporate update, Advait Energy Transitions Limited has secured a significant order from Parbati Koldam Transmission Company Limited for the supply and servicing of Emergency Restoration Systems (ERS).

Project Scope and Details

The contract involves the procurement of Emergency Restoration Systems for:

  • 2 X 400 kV Single Circuit Parbati – Koldam Transmission Line
  • 400 kV Double Circuit Koldam – Ludhiana Transmission Line

The order is classified under domestic procurement and is expected to be executed within a 10-month timeframe.

Significance of Emergency Restoration Systems

Emergency Restoration Systems (ERS) play a crucial role in ensuring the rapid restoration of transmission lines following unforeseen disruptions. These systems enhance grid resilience and minimise downtime, making them an essential component of the power infrastructure.

Conclusion

The recent allotment of equity shares and the contract for Emergency Restoration Systems mark notable corporate developments for Advait Energy Transitions Limited. The company continues to expand its operational footprint while raising capital through strategic issuances. 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.