NFO Alert: Kotak Mutual Fund Launches Nifty Midcap 150 Index Fund

Kotak Mahindra Mutual Fund has introduced the Kotak Nifty Midcap 150 Index Fund, an open-ended index fund that will track the Nifty Midcap 150 Index. This fund aims to replicate the performance of midcap stocks ranked 101-250 based on market capitalization.

Fund Details

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

  • Fund Name: Kotak Nifty Midcap 150 Index Fund
  • Category: Index Fund
  • Benchmark: Nifty Midcap 150 Total Return Index (TRI)
  • Fund Type: Open-ended
  • Risk Level: Very High
  • Fund Managers: Devender Singhal, Satish Dondapati (Equity), Abhishek Bisen (Debt)

NFO Timeline

  • NFO Open Date: March 3, 2025
  • NFO Close Date: March 17, 2025
  • Minimum Investment: ₹100 and any amount thereafter
  • Exit Load: NIL

Investment Objective

The fund’s objective is to generate returns in line with the Nifty Midcap 150 Index, subject to tracking error. The scheme does not guarantee or assure any returns.

  • 95-100% in Equities (stocks forming part of the Nifty Midcap 150 Index)
  • 0-5% in Debt & Money Market Instruments

The fund may use derivatives for short-term adjustments when necessary.

How It Works

This is a passively managed fund, meaning it will not involve stock selection but will instead hold stocks in the same proportion as the index. The portfolio will be rebalanced as per changes in the index.

As per the filing, this fund may be relevant for investors looking for:

  • Long-term exposure to midcap stocks
  • A passive investment option with lower management costs
  • Diversification within the midcap segment

Conclusion

The Kotak Nifty Midcap 150 Index Fund will be available for subscription from March 3 to March 17, 2025. This fund is specifically focused on midcap stocks. Investors should consider the risk factors and market conditions before investing. The fund is available in both Regular and Direct with Growth and IDCW plans.

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.

NFO Alert: Kotak Mutual Fund Launches Nifty Midcap 150 ETF

Kotak Mahindra Mutual Fund has launched the Kotak Nifty Midcap 150 ETF, an open-ended Exchange-Traded Fund (ETF) tracking the Nifty Midcap 150 Index. The scheme aims to replicate the index’s composition and generate similar returns, subject to tracking errors.

NFO Details

  • Fund House: Kotak Mahindra Mutual Fund
  • Issue Dates: March 3, 2025 – March 17, 2025
  • Type: Open-ended ETF
  • Category: Equity – Mid Cap
  • Minimum Investment: ₹5,000
  • Plans Available: Growth
  • Lock-in Period: None
  • Exit Load: Nil
  • Risk Level: Very High
  • Benchmark: NIFTY Midcap 150 TRI

The fund seeks to provide investment returns in line with the Nifty Midcap 150 Index. This index consists of 150 mid-sized companies across various industries. The fund manager will invest in stocks in the same proportion as the index to maintain alignment with its performance.

Fund Management

The fund will be managed by Devender Singhal, Satish Dondapati, and Abhishek Bisen. The registrar and transfer agent for the scheme is Computer Age Management Services Ltd. (CAMS).

Risk and Suitability

The Riskometer categorizes this ETF as Very High Risk, indicating significant price fluctuations. Midcap stocks tend to be more volatile than large caps, with the potential for higher returns – higher risks over the long term.

Tracking the Nifty Midcap 150 Index

The Nifty Midcap 150 Index represents companies ranked 101-250 in terms of market capitalization. It captures a broad segment of mid-sized firms, showcasing their growth potential. The ETF will replicate the index’s performance as closely as possible, subject to tracking errors.

Conclusion

This ETF follows a passive investment strategy, meaning it will not actively select stocks but will maintain alignment with the index. There is no lock-in period, and investors can enter or exit at market prices.

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.

360 ONE Mutual Fund Extended NFO Period For Gold ETF

360 ONE Mutual Fund has announced an extension of the New Fund Offer (NFO)  period for its 360 ONE Gold ETF, giving investors additional time to subscribe. Initially set to close on February 28, 2025, the NFO will now remain open until March 4, 2025. This is expected to provide investors with a longer window to participate in the fund, which aims to track the domestic price of gold.

Fund Overview

The 360 ONE Gold ETF is an open-ended Exchange-Traded Fund (ETF) under the commodities-gold category. It aims to provide returns aligned with the domestic price of physical gold, subject to tracking error.

  • Fund House: 360 ONE Mutual Fund
  • Fund Manager: Rahul Khetawat
  • NFO Open Date: February 20, 2025
  • Revised NFO Close Date: March 4, 2025
  • Revised Scheme Reopening Date: March 13, 2025
  • Minimum Investment: ₹500
  • Exit Load: Nil
  • Risk Level: Very High
  • Benchmark: Domestic Price of Gold

Revised Timelines

The extension in the NFO period also affects the scheme’s reopening date. The updated timeline is as follows:

Particulars Previous Date Revised Date
NFO Closing February 28, 2025 March 4, 2025
Scheme Reopening March 10, 2025 March 13, 2025

Investment Structure

The ETF follows a passive investment strategy, aiming to track gold prices in India. Since it is an exchange-traded product, investors can buy and sell units on the stock exchange at market prices.

There is no lock-in period, and the fund does not charge an exit load. Investments start at ₹500, making it accessible to retail investors.

Conclusion

Since this is a gold-linked ETF, its performance depends on fluctuations in domestic gold prices. Additionally, while there are no brokerage charges beyond SEBI’s prescribed limit, investors should consider any applicable transaction fees.

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.

ICICI Prudential Multi Asset Fund Announces Income Distribution

ICICI Prudential Mutual Fund has declared an income distribution of  ₹0.16 per unit under the IDCW (Income Distribution cum Capital Withdrawal) option for both regular and direct plans of its ICICI Prudential Multi Asset Fund.

The record date for this distribution is March 4, 2025.

Fund Overview

The ICICI Prudential Multi Asset Fund is an open-ended scheme launched on January 1, 2013. It follows a multi-asset investment strategy, allocating funds across equity, debt, commodities, real estate, and cash equivalents. Since its launch, the fund has delivered a return of 16.54%.

As of January 31, 2025, the fund manages ₹52,761 crore in assets. The expense ratio stands at 0.70%, and the fund falls under the high-risk category, based on the riskometer. Fund manager Akhil Kakkar oversees the scheme.

Strategy & Allocation

The scheme aims to generate capital appreciation through equity investments while maintaining income generation by allocating funds across other asset classes. Its current asset allocation is:

  • 49.37% in equities
  • 14.11% in debt instruments
  • 11.07% in commodities
  • 1.38% in real estate
  • 24.07% in cash and cash equivalents

The benchmark indices for the fund include NIFTY 200 TRI (65%), NIFTY Composite Debt Index (25%), Domestic Price of Gold (6%), MCX I-COMDEX Composite Index (3%), and Domestic Prices of Silver (1%).

Investment Details

  • Minimum lump sum investment: ₹5,000
  • Minimum additional investment: ₹1,000
  • Minimum SIP amount: ₹100
  • Minimum withdrawal: ₹1
  • Exit load: 1% on redemption of units exceeding 30% of the investment within 365 days

The last income distribution was also ₹0.16 per unit, recorded on February 6, 2025. Investors opting for the IDCW plan will receive the declared payout on or after March 4, 2025.

Conclusion

ICICI Prudential Multi Asset Fund maintains a diversified approach, balancing growth and income. The ₹0.16 per unit payout aligns with its recent distributions. Investors should assess their risk tolerance and objectives before investing.

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.

IMF Projects 6.5% GDP Growth for India, Reinforcing Economic Strength

The International Monetary Fund (IMF) has reaffirmed that India will continue to be the fastest-growing major economy, projecting a GDP growth rate of 6.5% for 2025-26. This growth is attributed to strong private investment and macroeconomic stability.

The IMF also emphasised the need for structural reforms to sustain long-term economic progress and achieve the goal of becoming an advanced economy by 2047.

Macroeconomic Stability and Growth Prospects

India’s economic growth remains strong, with the IMF forecasting a 6.5% real GDP expansion in both 2024-25 and 2025-26. This momentum is driven by robust private consumption, supported by sustained macroeconomic and financial stability. 

According to the Indian government’s second advance estimate, the country’s economy is expected to achieve the same 6.5% growth in 2024-25. The IMF noted that inflation is expected to stabilise within the Reserve Bank of India’s tolerance range as food price shocks subside.

Despite some moderation in growth, India’s economic performance has been resilient, with a year-on-year GDP increase of 6% in the first half of 2024-25. The financial sector has remained stable, with non-performing loans at multi-year lows. Fiscal consolidation has progressed, and the current account deficit remains well-contained, supported by strong service export growth.

Structural Reforms and Investment Climate

The IMF highlighted the importance of structural reforms to boost private investment and job creation. Comprehensive policy changes in labour markets, human capital development, and increased female workforce participation are essential for unlocking higher growth potential. 

Additionally, the IMF emphasised the need for governance reforms, improved ease of doing business, and trade integration through tariff and non-tariff reductions to attract foreign direct investment (FDI).

Encouraging private investment and FDI requires a stable policy framework, which is crucial for sustaining long-term economic expansion. While inflation has moderated within the central bank’s target range, food price fluctuations have introduced some volatility. However, India’s financial sector has demonstrated resilience, reinforcing economic stability.

Conclusion

India’s economic trajectory remains strong, with sustained GDP growth driven by private consumption and macroeconomic stability. The IMF underscores the significance of structural reforms in enhancing investment, employment, and long-term growth prospects. With a stable financial sector and controlled inflation, India is positioned to maintain its status as the fastest-growing major economy.

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. 

Tesla Secures First India Showroom in Mumbai’s BKC

Tesla, the renowned electric vehicle (EV) manufacturer led by Elon Musk, has taken a significant step towards establishing its presence in India. The company has finalised a deal to open its first showroom in Mumbai’s Bandra Kurla Complex (BKC), one of the city’s most upscale commercial areas. This move comes amid growing interest in EV adoption in India and follows Tesla’s ongoing efforts to expand its global footprint.

Tesla’s First Showroom in India

Tesla’s showroom in Mumbai will be located on the ground floor of a commercial tower in BKC, spanning 4,000 square feet. The company has reportedly agreed to pay ₹900 per square foot in rent, amounting to approximately ₹35 lakh per month.

The company has signed a five-year lease for the space and is simultaneously working on securing another showroom in Delhi’s Aerocity. This expansion follows a recent meeting between Tesla CEO Elon Musk and Prime Minister Narendra Modi during the latter’s visit to the United States. Shortly after the meeting, Tesla posted job listings for 13 positions in India, indicating its increasing focus on the Indian market.

Potential Vehicle Imports and Expansion Plans

Tesla is considering importing vehicles from its Berlin factory for sale in India, according to a report. The company is also planning to introduce an EV priced under $25,000 (approximately ₹21 lakh), which would be one of its most affordable models globally. In the United States, Tesla’s entry-level Model 3 starts at $35,000 (approximately ₹30.4 lakh) at the factory level.

While there has been no official confirmation regarding setting up a manufacturing facility in India, Tesla continues to strengthen its ties with Indian suppliers. The company is already sourcing over $1 billion worth of components from India, a figure expected to increase in the coming months.

Conclusion

Tesla’s move to establish showrooms in Mumbai and Delhi marks a crucial step in its Indian expansion. While its manufacturing plans remain uncertain, the company’s growing investment in local sourcing and high-profile showroom locations highlights its commitment to tapping into the Indian EV 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.

NSE Launches Nifty India Internet & E-Commerce Index

On 28 February, NSE Indices, a subsidiary of the National Stock Exchange (NSE), introduced the Nifty India Internet & E-Commerce Index. This thematic benchmark tracks companies that primarily operate through online platforms. The index comprises 21 constituents from the Nifty Total Market and follows a free-float market capitalisation-based weighting method, with individual stocks capped at 20%.

Composition and Structure of the Index

The base date for the Nifty India Internet & E-Commerce Index is 1 October 2021, with a starting value of 1,000 points. Among its 21 constituents, Zomato holds the highest weight at 20.3%, followed by Info Edge at 18.83% and PB Fintech at 16.72%. Other notable companies include Paytm, Nykaa, and IRCTC, each accounting for 7-8%, while Angel One, Motilal Oswal, Swiggy, and IndiaMART InterMESH have weights below 5%. Sector-wise, Consumer Services make up 65.32% of the index, Financial Services account for 33.48%, and Media, Entertainment & Publication contribute 1.21%.

The index undergoes semi-annual reviews in March and September, considering six-month average data ending in January and July. Quarterly screenings ensure compliance with SEBI’s portfolio concentration norms for ETFs and index funds, with corrective actions taken when necessary. Ad-hoc rebalancing may be initiated in cases of stock suspensions, delistings, or corporate restructuring.

Recent Market Performance and Broader Market Trends

As of 14 February, the NIFTY India Internet and E-Commerce index reported a year-to-date decline of 18.87% but showed a 26.65% gain over the past year. It currently trades at a price-to-earnings ratio of 89.07 and a price-to-book value of 7.13, with a dividend yield of 0.22%. The index provides exposure to India’s rapidly evolving digital and e-commerce sectors.

On 28 February, Indian stock markets witnessed a sharp decline, with the Sensex and Nifty falling nearly 2% due to concerns over a potential global trade war and a slowing U.S. economy. All 13 major sectoral indices registered losses, with the BSE Smallcap and BSE Midcap indices declining by 2.5% and 3%, respectively.

Conclusion

The launch of the Nifty India Internet & E-Commerce Index highlights the growing significance of digital businesses in India. Despite recent volatility, the index reflects the broader shift towards online-driven industries and provides a structured measure of their market performance.

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.

Glenmark Pharmaceuticals Expands Injectable Portfolio in the US

Glenmark Pharmaceuticals Inc, USA, the Subsidiary of Glenmark Pharmaceuticals Ltd announced the launch of Acetylcysteine Injection, marking an expansion of its injectable product portfolio. Glenmark’s version received FDA approval based on existing safety and efficacy data from the reference drug, acetadote injection.

About Acetylcysteine Injection

In a parallel development, Glenmark announced the acquisition and introduction of Acetylcysteine Injection in the US. The injection, available in 6 gm/30 mL (200 mg/mL) single-dose vials, is expected to deliver the same therapeutic effects as Acetadote Injection, manufactured by Cumberland Pharmaceuticals Inc. This launch represents an expansion of Glenmark’s injectable portfolio, reinforcing its commitment to providing affordable alternatives to branded medications.

Acetylcysteine is therapeutically employed both as an antidote for acetaminophen overdose and as a mucolytic to manage respiratory conditions. IQVIA sales data indicates that for the 12-month period ending in January 2025, the Acetadote injection market in the United States generated approximately USD 15.2 million in annual sales.

Recall of Atomoxetine Capsules

Glenmark is recalling approximately 1.476 million bottles of Atomoxetine Capsules across multiple strengths due to Current Good Manufacturing Practice (CGMP) deviations. The recall was triggered by the presence of N-Nitroso Atomoxetine impurity exceeding the permissible limit set by the US Food and Drug Administration (USFDA). Classified as a Class II recall, the withdrawal of the product indicates a risk of temporary or medically reversible adverse effects, with a low probability of serious consequences. Atomoxetine is a widely used medication for treating Attention Deficit Hyperactivity Disorder (ADHD), a neurodevelopmental disorder affecting focus, impulse control, and activity regulation.

Glenmark Pharma Share Performance

As of February 21, 2025, at 2:20 PM, the shares of Glenmark Pharma are trading at ₹1,302.85 per share, reflecting a surge of 1.87% from the previous day’s closing price. Over the past month, the stock has registered a loss of 7.89%.

Conclusion

While Glenmark Pharmaceuticals is addressing regulatory concerns with the recall of Atomoxetine Capsules, it is also expanding its footprint in the US market with the launch of Acetylcysteine Injection. These contrasting developments reflect the company’s dual focus on regulatory compliance and market growth.

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.

SEBI to Challenge Mumbai Court’s FIR Order in Corruption Case Against Former Chief Madhabi Puri Buch

A Special Anti-Corruption Court in Mumbai has directed the registration of a First Information Report (FIR) against senior officials of the Securities and Exchange Board of India (SEBI), including former Chairperson Madhabi Puri Buch, as well as the Bombay Stock Exchange (BSE). The order follows a petition filed by journalist Sapan Shrivastava, alleging large-scale stock market fraud and regulatory violations in the listing of a company.

Allegations of Market Manipulation and Regulatory Failures

The complaint accused SEBI officials of failing in their regulatory duties, facilitating market manipulation, and allowing the listing of a company that did not meet the prescribed norms. The petition further alleged collusion between SEBI and corporate entities, enabling insider trading and misappropriation of public funds post-listing. Named in the complaint were former SEBI Chairperson Madhabi Puri Buch, Whole Time Members Ashwani Bhatia, Ananth Narayan G, and Kamlesh Chandra Varshney, alongside BSE Chairman Pramod Agarwal and CEO Sundararaman Ramamurthy.

The court highlighted “The allegations disclose a cognizable offence, necessitating a fair and impartial probe”, While observing, “Considering the gravity of allegations, applicable laws, and settled legal precedents, this Court deems it appropriate to direct an investigation,” the court directed the ACB to submit a status report within 30 days.

The judge added, “There is prima facie evidence of regulatory lapses and collusion, requiring a fair and impartial probe. The inaction by law enforcement and SEBI necessitates judicial intervention.”

SEBI and BSE Respond to Court Order

Following the court’s directive, SEBI issued a statement expressing, “The applicant is known to be a frivolous and habitual litigant, with previous applications being dismissed by the Court, with imposition of costs in some cases. SEBI would be initiating appropriate legal steps to challenge this order and remains committed to ensuring due regulatory compliance in all matters,” the Sebi statement read.

“Even though these officials were not holding their respective positions at the relevant point of time, the court allowed the application without issuing any notice or granting any opportunity to SEBI to place the facts on record,” it added

Similarly, BSE released a statement asserting that “The named company, Cals Refineries Ltd, was listed at BSE in 1994. The officials named in the application were not in their respective positions at the time of listing and were not connected with the company at all. The application is frivolous and vexatious in nature,” the BSE statement read.

“The Honourable Court has allowed the application without issuing any notice or granting any opportunity to BSE to place the facts on record. BSE is initiating necessary and appropriate legal steps in this regard. As a responsible market institution, BSE remains committed to upholding regulatory compliance and ensuring transparency.”

Conclusion

The Mumbai court’s order to register an FIR against SEBI officials and BSE has sparked legal challenges from both institutions. While the allegations centre on regulatory failures and market misconduct, SEBI and BSE maintain that the claims are baseless and have vowed to pursue legal recourse. The investigation by the ACB will proceed, with a status report expected within a month.

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.

Mahindra Beats Hyundai to Become India’s Second Largest Car Maker in February 2025

The Indian automobile industry is experiencing a major shift, with Mahindra & Mahindra surpassing Hyundai Motor India to become the second-largest automaker in February 2025. Mahindra achieved this milestone by recording a 19% year-on-year (YoY) growth, selling 50,420 units in the domestic market. This strong performance reflects the increasing demand for Mahindra’s SUVs, which have consistently shown robust sales over the past year.  

Sales Performance: Mahindra vs Hyundai

While Mahindra’s domestic sales stood at 50,420 units, Hyundai reported 47,727 units, a 4.93% decline compared to February 2024. However, when exports are included, Hyundai retained its second position with 58,727 total units sold, compared to Mahindra’s 52,386 units. Hyundai’s exports increased by 6.8% YoY to 11,000 units, while Mahindra exported 1,966 units.  

Factors Behind Mahindra’s Growth

Mahindra’s success in the Indian automobile market is largely due to the strong demand for its SUVs. Models like Thar Roxx, Scorpio N and XUV700 continue to attract a large number of buyers. The company’s newly launched electric SUVs, XEV 9e and BE 6, received an impressive 30,179 bookings on their very first day, highlighting the growing consumer interest in Mahindra’s offerings.   

 

Veejay Nakra, President of Mahindra’s Automotive Division, mentioned. “In February, we clocked SUV sales of 50420, a growth of 19% and 83702 total vehicles, a growth of 15%. This strong performance is a result of a continued positive momentum for our SUV portfolio.”

Hyundai’s Challenges and Future Outlook

Hyundai has faced challenges due to geopolitical issues and intense competition. Additionally, its new product launches have been limited, affecting overall sales. Hyundai’s top-selling SUVs like Venue and Exter are experiencing stiff competition in their segments.  

 

Despite these setbacks, Hyundai remains optimistic about future growth. Tarun Garg, COO of Hyundai Motor India, stated that tax reforms in the Union Budget 2025 and improved liquidity are expected to boost demand in the coming months.  

Stock Market Performance

As of March 03, 2025, at 10:45 AM, the shares of M&M are trading at ₹2,617.40 per share, reflecting a surge of 1.25% from the previous closing price. Over the past month, the stock has registered a loss of 17.52%. The stock’s 52-week high stands at ₹3,270.95 per share, while its low is ₹1,788.80 per share.

Conclusion 

Mahindra’s impressive growth in the domestic market highlights its strong product portfolio and rising consumer preference for SUVs, positioning it as a formidable competitor in India’s automobile sector.

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.