Kotak CRISIL-IBX Financial Services 3 to 6 Months Debt Index Fund Draft Filed

Kotak Mahindra Mutual Fund has filed a draft for the Kotak CRISIL-IBX Financial Services 3 to 6 Months Debt Index Fund. This is an open-ended index fund that aims to track the CRISIL-IBX Financial Services 3 to 6 Months Debt Index. 

It falls under the category of constant maturity index funds, offering exposure to short-term debt securities with lower interest rates and credit risk​.

Metrics Details
Load Structure No exit load
Minimum Investment Amount ₹100 and any amount thereafter
Minimum Additional Purchase ₹100 and any amount thereafter
Minimum Redemption ₹100 or account balance, whichever is lower
New Fund Offer Price ₹10 per unit during NFO

Objective and Strategy

The scheme’s objective is to generate returns in line with the underlying index, which consists of corporate debt securities, Commercial Papers (CPs), and Certificates of Deposit (CDs) with maturities between three to six months. 

The fund follows a passive investment approach and does not actively manage portfolio composition. Asset allocation is as follows:

  • 95-100% in securities that form part of the CRISIL-IBX Financial Services 3 to 6 Months Debt Index.
  • 0-5% in cash and other money market instruments​.

Benchmark 

The fund is benchmarked against the CRISIL-IBX Financial Services 3 to 6 Months Debt Index, which includes AAA-rated financial sector instruments. Tracking errors may occur, but the fund aims to maintain alignment with the index over time​.

Liquidity and Fund Structure

Since this is an open-ended fund, investors will be able to subscribe and redeem units at NAV-based prices on all business days. The Net Asset Value (NAV) will be disclosed daily on the Kotak Mutual Fund and AMFI websites​.

The scheme will be managed by Manu Sharma, who has experience in fixed-income fund management. 

Risks and Considerations

  • Sectoral Risk: The fund invests in debt securities of financial institutions, which could lead to concentration risk.
  • Tracking Error: Passive funds may not exactly replicate index returns.
  • Liquidity Risk: Market conditions can impact the ease of buying and selling underlying securities​.

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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 are subject to market risks, read all scheme-related documents carefully.

Understanding the Blue Dart Delivery Scam and Protecting Yourself

With the rise of online shopping, fraudulent delivery scams have become increasingly common. A new scam involving fake calls from individuals posing as Blue Dart executives has emerged, tricking unsuspecting people into compromising their financial and personal security. 

Understanding how this scam operates and taking preventive measures is essential to avoid falling victim to such deceptive tactics.

How the Blue Dart Delivery Scam Operates

Scammers typically initiate this fraud by sending a fake delivery failure notification, claiming that a parcel could not be delivered due to incorrect details. Victims then receive a call from someone impersonating a Blue Dart representative, who requests them to verify personal information or enable call forwarding.

Once call forwarding is activated, fraudsters can intercept calls and messages, potentially gaining access to banking information, OTPs, and other sensitive data. This scam exploits the trust individuals place in courier services, making it crucial to stay vigilant against such deceptive practices.

Preventive Measures and Staying Safe

To protect yourself from such scams, always verify the authenticity of delivery notifications. Contact the courier service directly through their official website or customer service number instead of responding to unexpected calls.

Never share personal details or enable call forwarding unless you are certain of the caller’s identity.

Enabling two-factor authentication (2FA) on banking and email accounts can provide an added layer of security. Additionally, staying informed about common scams and reporting suspicious activity to the authorities can help prevent others from falling victim to similar frauds.

Conclusion

The rise in online shopping has provided scammers with new ways to deceive individuals. The Blue Dart delivery scam is just one of many fraudulent tactics used to gain access to sensitive information. By staying alert, verifying delivery claims, and refusing to share confidential details over the phone, individuals can safeguard themselves against such cyber threats.

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. 

Union Budget 2025-26: A Boost for India’s Fisheries Sector

The Union Budget 2025-26 has prioritised the sustainable growth of India’s fisheries sector by increasing financial support and introducing policy measures to enhance marine resource utilisation. 

The government aims to boost deep-sea fishing, promote modern aquaculture techniques, and strengthen India’s position as a global leader in seafood exports. With a budgetary allocation of ₹2,703.67 crore—an increase of 3.3% from the previous year—the sector is set to witness significant advancements.

Harnessing the Potential of India’s Exclusive Economic Zone

India possesses a vast Exclusive Economic Zone (EEZ) of 20 lakh sq. km, providing immense scope for marine fisheries. The government has announced a strategic framework to sustainably harness fisheries in the EEZ and high seas, with a special focus on the Andaman & Nicobar and Lakshadweep Islands. 

These regions, with a combined marine fisheries potential of 2.48 lakh tonnes, will see targeted development through deep-sea fishing initiatives, tuna clusters, and streamlined licensing processes.

For Andaman & Nicobar, the government aims to utilise its 6.60 lakh sq. km EEZ, with a specific focus on tuna fisheries. Measures such as onboard processing facilities, deep-sea fishing vessel licensing, and single-window clearances will facilitate this development. 

Meanwhile, Lakshadweep, with a 4 lakh sq. km EEZ and a significant lagoon area, will focus on seaweed cultivation, ornamental fish farming, and end-to-end value chain development, particularly benefiting women through Self-Help Groups (SHGs).

Policy Reforms and Economic Support for Fishers

The budget introduces financial and policy measures to strengthen the fisheries sector. The Kisan Credit Card (KCC) lending limit has been raised from ₹3 lakh to ₹5 lakh, ensuring better access to credit for fishers, processors, and other stakeholders. This move is expected to encourage the adoption of modern techniques, improve working capital availability, and enhance economic stability in rural areas.

To bolster India’s seafood export industry, the government has reduced the Basic Customs Duty (BCD) on frozen fish paste (surimi) from 30% to 5% and on fish hydrolysate from 15% to 5%.

These reductions aim to lower production costs, increase profit margins for fish farmers, and enhance India’s competitiveness in the global seafood market. By supporting value-added seafood exports, such as imitation crab meat and shrimp analogues, India seeks to strengthen its position as a leading seafood exporter.

Conclusion

India’s fisheries sector has emerged as a key contributor to economic growth, providing livelihoods to over 30 million people. The strategic initiatives in the Union Budget 2025-26 reinforce the government’s commitment to sustainable marine resource utilisation, financial inclusion, and global competitiveness. With enhanced funding, policy support, and infrastructure development, India is well-positioned to maximise its fisheries potential and drive economic progress.

InterGlobe Aviation Faces GST Penalties of ₹116 Crore

InterGlobe Aviation Limited, the parent company of Indigo, has disclosed information related to penalties imposed by tax authorities. The company has received two significant GST-related penalty orders which are currently being contested.

GST Penalty from Delhi South Commissionerate

The Additional Commissioner of Central Goods & Service Tax – Delhi South Commissionerate has imposed a penalty of ₹113.02 crore on the company. The penalty is related to the levy of GST on services provided to offshore recipients which the authorities do not consider as exports. 

Additionally, the company has been denied an Input Tax Credit for certain services. The company is in the process of challenging this order through the appropriate legal channels.

GST Penalty from Chennai South Commissionerate

The Joint Commissioner of GST & Central Excise – Chennai South – Tamil Nadu has also imposed a penalty of ₹2.84 crore. This penalty is due to the denial of Input Tax Credit for mismatches identified. The company is preparing to contest this order as well.

Impact on the Company

Despite the significant amounts of the penalties, the company has stated that these orders do not have a material impact on its financials, operations or other activities.

InterGlobe Aviation Limited is taking the necessary steps to address these issues through the appropriate appellate authorities. 

About the Company

InterGlobe Aviation Limited is the parent company of IndiGo, a leading airline in India. The company is involved in the aviation sector, providing domestic and international air travel services. IndiGo is known for its low-cost business model, offering affordable flights while focusing on punctuality and customer satisfaction.

Company’s Share Performance 

As of February 06, 2025, at 11:10 AM, the shares of InterGlobe Aviation are trading at ₹4,394 per share, down 0.48% from yesterday’s closing price. Over the last month, the stock has surged by 2.98%. The stock’s 52-week high is ₹5,035 and its low is ₹2,984.20.

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.

Ajax Engineering IPO Opens on February 10

Founded in July 1992, Ajax Engineering Limited manufactures concrete equipment and operates four facilities in Karnataka. The company is launching its Initial Public Offering (IPO) which will be open for bidding from February 10 to February 12, 2025. The price band has been set between ₹599 and ₹629 per share. 

The IPO is entirely an offer-for-sale (OFS) of 2.01 crore equity shares, meaning there is no fresh issue component. The company expects to raise around ₹1,269.35 crore, with the proceeds going to existing shareholders.

IPO Details 

Details Information
IPO Dates Feb 10 – Feb 12, 2025
Face Value ₹1 Per Equity Share
IPO Price Band ₹599 to ₹629 Per Share
Issue Size Approx ₹1,269.35 crore
Offer for Sale 2,01,80,446 Equity Shares
Issue Type Book Built Issue
Minimum Lot Size 23 shares (₹14,467)

Lot Size and Requirements

Retail investors must bid for a minimum of 23 shares, requiring an investment of ₹14,467 at the upper price band. For non-institutional investors (NIIs), the minimum lot size is 322 shares (14 lots), amounting to ₹2,02,538. Large NIIs will need to bid for at least 1,610 shares (70 lots), which requires an investment of ₹10,12,690.

Allotment and Listing Timeline

The basis of allotment will be finalised on February 13, 2025. Refunds for unsuccessful bids will be processed on February 14, and shares will be credited to demat accounts the same day. The IPO is scheduled to list on the BSE and NSE on February 17, 2025.

Lead Managers and Registrar

The IPO is managed by ICICI Securities, Citigroup Global Markets India, JM Financial, Nuvama Wealth Management, and SBI Capital Markets. The registrar is Link Intime India Private Limited.

The IPO allocation is divided as follows:

  • 50% for Qualified Institutional Buyers (QIBs)
  • 15% for Non-Institutional Investors (NIIs)
  • 35% for Retail Investors

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 are subject to market risks, read all scheme-related documents carefully.

Delayed Registrations Fuel a 15% Spike in India’s January 2025 Car Sales

India’s passenger vehicle sales saw a 15.53% increase in January 2025, largely due to delayed registrations from the previous month. According to data from the Federation of Automobile Dealers Associations (FADA), 4,65,920 cars were registered last month, compared to 2,93,465 units in January 2024. This also marks a 58.77% rise from December 2024.

Registrations Pushed to January

A portion of these sales figures comes from purchases made in December but registered in January. Many buyers delayed their registration to get a 2025 model year tag, which is often preferred for resale value. 

The heavy discounting in December also played a role, as dealerships cleared out older stock, leading to more formal registrations in the new year.

Inventory Levels 

Dealers reported that inventory levels dropped by about five days, bringing them down to 50-55 days. This suggests an improved balance between supply and demand, easing concerns about overstocking.

Apart from passenger vehicles, other segments of the automobile industry also saw growth in January:

  • Two-wheeler sales rose 4.15% YoY to 15,25,862 units.
  • Three-wheeler sales increased 6.86% YoY to 1,07,033 units.
  • Commercial vehicle sales grew 8.22% YoY to 99,425 units.
  • Tractor sales increased 5.23% YoY to 93,381 units.

Company-Wise Trends

Major automakers recorded varied performances. Some brands reported higher numbers, helped by new model launches and EV sales, while others saw a decline. Among two-wheeler manufacturers, sales showed a slight increase but remained stable overall.

Among automakers, Mahindra, Maruti Suzuki, Toyota, Hero MotoCorp, and TVS saw notable sales growth in January 2025. In contrast, Tata Motors recorded a decline in sales.

Meanwhile, Hyundai Creta achieved its highest-ever monthly sales, helped by the launch of the Creta EV, which contributed to the demand.

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 are subject to market risks, read all scheme-related documents carefully.

 

Gold and Silver Prices on February 6, 2025: Check Rates in Your City

Gold prices witnessed a marginal increase in both Indian and international markets on February 6, 2025. Spot gold in global markets edged up by 0.01% to $2,870.18 per ounce as of 12:07 PM. Meanwhile, in India, gold prices rose by ₹120 per 10 grams across major metro cities.

In Mumbai, the price of 24-carat gold stands at ₹8,462 per gram (₹84,620 per 10 grams), while 22-carat gold is priced at ₹7,757 per gram.

In Delhi, 22-carat gold is currently priced at ₹77,431 per 10 grams, whereas 24-carat gold trades at ₹84,470 per 10 grams.

Gold Prices in India on February 6, 2025

Gold Prices Across Major Indian Cities (Per 10 Grams)

 

City 24 Carat Gold (per 10gm in ₹) 22 Carat Gold (per 10gm in ₹)
Chennai 84,860 77,788
Hyderabad 84,750 77,688
Delhi 84,470 77,431
Mumbai 84,620 77,568
Bangalore 84,680 77,623

 

Silver Prices in India on February 6, 2025

The international silver price dropped 0.42% to $32.34 per ounce as of 12:07 PM. In India, silver prices declined by ₹160 per kg.

Silver Prices Across Major Indian Cities (Per 1KG)

 

City Silver Rate in ₹/KG 
Mumbai 95,920
Delhi 95,750
Kolkata 95,790
Chennai 96,200

 

Key Takeaways

Gold Prices: Both 22-carat and 24-carat gold have risen marginally but remain above the ₹84,000 mark in all major cities.
Silver Prices: Silver prices have retreated from recent highs.

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

Quant Mutual Fund Reshuffles Fund Management Across 27 Schemes; DSP Mutual Fund Alters Investment Strategy

Quant Mutual Fund has undertaken a significant restructuring of its fund management team following the resignation of Vasav Sahgal, who served as Fund Manager – Equity and Director of Quant Money Managers. His resignation, effective January 31, 2025, has led to a broad-based reallocation of fund management responsibilities across all 27 schemes.

To ensure a seamless transition in oversight and investment strategies, the fund house has implemented key management changes, effective February 3, 2025. These changes were communicated to unitholders through an official notice cum addendum.

New Fund Management Appointments

  • Lokesh Garg: Appointed as Fund Manager – Equity.
  • Sameer Kate: Continues as Fund Manager – Equity, with an additional role as Chief Dealer – Equity.
  • Varun Pattani: Transitioned from Fund Manager – Commodities & Chief Dealer – Equity to Fund Manager – Equity.
  • Ayusha Kumbhat: Promoted from Research Analyst to Fund Manager – Equity.
  • Harshvardhan Bharatia: Retains his role as Dealer – Debt, while taking on the new designation of Fund Manager – Debt.

Despite these leadership adjustments, the Scheme Information Document (SID), Statement of Additional Information (SAI), and Key Information Memorandum (KIM) remain unchanged, ensuring consistency in investor communication and compliance.

DSP Mutual Fund Alters Fund Attributes and Investment Approach

In a separate development, DSP Mutual Fund has announced changes to the fundamental attributes of its DSP Global Allocation Fund of Fund. The scheme has now been renamed as DSP Income Plus Arbitrage Fund of Fund, as per report. 

Under the revised investment strategy, the fund will focus on income generation through debt-oriented and arbitrage investments. The updated asset allocation includes:

  • 95-100% of its assets are allocated to debt-oriented and arbitrage schemes.

Additionally, new fund managers have been assigned to oversee the scheme’s updated investment approach:

  • Kaivalya Nadkarni will manage the arbitrage component.
  • Shantanu Godambe will oversee debt investments.

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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 are subject to market risks, read all scheme-related documents carefully.

Dynamic Cables: Tax Rectification Order Reduces Liability from ₹5.02 Crore to ₹39,800

Dynamic Cables Limited, a government-recognised Two-Star Export House, recently announced a significant rectification in its income tax demand. The company has received a favourable order from the Income Tax Department, substantially reducing its tax liability for the assessment year 2022-23.

The share price of Dynamic Cables was trading 1.32% lower as of 11:40 AM on February 6, 2025.

Rectification Order Details

Dynamic Cables Limited received a rectification order from the Centralised Processing Centre (CPC) Bangalore, under Section 154 of the Income Tax Act, 1961. This revision reduced the company’s tax demand from ₹5,02,33,850 to ₹39,800.

The rectification follows an earlier assessment under Section 143(1) of the Income Tax Act, which initially resulted in a significantly higher tax liability. However, upon review and correction, the revised order reflects a substantial reduction in the amount payable.

Immediate Action Taken

Following the receipt of the rectification order, Dynamic Cables promptly deposited the revised tax amount of ₹39,800 on the same day. This action ensures compliance with the latest directive from the tax authorities.

Impact on the Company

The rectification order has no financial, operational, or strategic impact on the company’s business activities. The management has confirmed that this adjustment does not affect its ongoing projects, revenue streams, or market positioning.

Financial Performance

Dynamic Cables has delivered strong and consistent performance, achieving their highest ever revenue and profits. The company reported their highest ever 9-month revenue and record order book. In 9-month FY25 sales grew by 32% over 9-month FY24 with operating margin rising 37% to ₹71.2 crores. 

Operating margin was stable at 10.3% in accordance with our long-term guidance and PAT increased by 72% to ₹41.2 crores surpassing FY24 profits, reflecting our strong financial performance. Customer-wise contribution in 9-month FY25 was government sales 23%, private sales at 71% and export at 6%. Product-wise contribution 9-month FY25 for HV sales 61%, LV cables 29%, railway signalling cable 5%, conductors 5%. As of December 31, 2024, the order book stands at ₹682 crore. 

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

Mahindra Electric Origin SUVs: Bookings Open on Valentine’s Day for All 9 Variants

Mahindra Electric Automobile Limited is all set to make Valentine’s Day 2025 even more exciting for EV enthusiasts by opening bookings for its much-awaited Electric Origin SUVs—the XEV 9e and BE 6.

Starting from February 14, 2025, customers will have the opportunity to choose from nine distinct variants, catering to different preferences and budgets.

This milestone reinforces Mahindra’s commitment to electrification and further strengthens its position in India’s growing electric vehicle (EV) market.

As of 10:33 AM on February 6, 2025, Mahindra & Mahindra’s share price was trading down by 1.42% on the NSE.

Structured Production to Meet Growing Demand

With a strong interest in its electric SUVs, Mahindra has planned a phased production ramp-up to ensure smooth deliveries. The timeline for each variant is as follows:

Variant Battery Pack BE 6 Price XEV 9e Price Deliveries Start
Pack One 59 kWh ₹18.90 Lakh ₹21.90 Lakh August 2025
Pack One Above 59 kWh+ ₹20.50 Lakh N/A August 2025
Pack Two 59 kWh ₹21.90 Lakh ₹24.90 Lakh July 2025
Pack Three Select 59 kWh ₹24.50 Lakh ₹27.90 Lakh June 2025
Pack Three 79 kWh ₹26.90 Lakh ₹30.50 Lakh Mid-March 2025

Note: Prices exclude charger and installation costs. Additional ₹50,000 for a 7.2 kW charger or ₹75,000 for an 11.2 kW charger.

Customers can express their interest from February 6, 2025, via Mahindra’s official website before finalising their bookings from February 14.

Stylish Colour Options

Both the XEV 9e and BE 6 are available in a range of stylish colour options, allowing buyers to personalise their electric SUVs.

BE 6 Colour Variants

Everest White, Deep Forest, Tango Red, Desert Myst, Ruby Velvet, Firestorm Orange, Stealth Black

XEV 9e Colour Variants

Everest White, Deep Forest, Nebula Blue, Desert Myst, Stealth Black. 

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