Top 5 Mutual Funds With the Highest Direct Plan AUM in December 2024

The mutual fund (MF) industry in India has witnessed remarkable growth in direct plan investments. According to a recent analysis of December 2024 data, direct plans now constitute 46% of the total mutual fund assets, amounting to a staggering ₹31.86 lakh crore. This blog provides an overview of the top fund houses excelling in direct plan AUM, highlighting their contributions and proportions.

1. SBI Mutual Fund: The Leader in Direct Plan AUM

SBI Mutual Fund stands at the forefront of the industry with direct plan assets worth ₹6.31 lakh crore. Impressively, direct plans contribute 57% to SBI MF’s overall AUM, showcasing its dominance in this segment. 

2. ICICI Prudential Mutual Fund

With a direct plan AUM of ₹4.18 lakh crore, ICICI Prudential MF secures the 2nd position. Direct plans account for 47% of its total AUM.

3. HDFC Mutual Fund: Solidifying the Third Spot

HDFC Mutual Fund occupies the 3rd position with ₹3.33 lakh crore in direct plan assets. Direct plans form 42% of its total AUM.

4. Nippon India Mutual Fund

Nippon India MF ranks 4th with a direct plan AUM of ₹3.15 lakh crore. Notably, 54% of its total assets are derived from direct investments.

5. Kotak Mutual Fund: Rounding Out the Top Five

Kotak Mutual Fund secures the 5th position with a direct plan AUM of ₹2.39 lakh crore. Direct plans contribute 48% of its total AUM.

Other Notable Mentions

Several other fund houses also garner substantial assets through direct plans:

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

UltraTech Cement Eyes Acquisition of HeidelbergCement India

According to the news reports, UltraTech Cement, the flagship company of the Aditya Birla Group and India’s largest cement manufacturer by capacity, is reportedly in advanced talks to acquire the Indian operations of HeidelbergCement. The deal, valued at approximately ₹3,381 crore based on HeidelbergCement’s January 24 closing price, involves the potential purchase of a 69.39% stake held by Heidelberg Materials Group. This acquisition aligns with UltraTech’s strategic pursuit of inorganic growth in a highly competitive market.

UltraTech Cement’s Strategic Acquisitions

UltraTech Cement has consistently focused on acquisitions to solidify its position as the industry leader. In 2024, the company acquired a 55.49% stake in India Cements through a combination of transactions, including an open offer. Additionally, it purchased an 8.69% stake in Star Cement for ₹851 crore in December 2024. With a current capacity exceeding 120 million tonnes per annum (MTPA) and plans to expand to 140 MTPA in the next five years, UltraTech remains the dominant player in the Indian cement sector.

Industry Consolidation and Heidelberg Cement’s Background

The Indian cement industry has witnessed significant consolidation over the past five years, with major players securing 97 MTPA through mergers and acquisitions, compared to 51-53 MTPA from organic growth. Notable deals include Adani Group’s 2022 acquisition of Ambuja Cements and ACC Limited for $6.6 billion, making it the second-largest cement manufacturer in India.

HeidelbergCement entered the Indian market in 2006 by acquiring Mysore Cements and expanding its capacity to 14 MTPA. Its Indian operations include four integrated plants, four grinding units, and a terminal, making it a valuable asset in the competitive market.

UltraTech Cement Share Performance

As of January 27, 2025, at 2:00 PM, UltraTech shares are trading at ₹11,242.45 per share, down 0.38% from the previous closing price. Over the last month, the stock has fallen by 1.42%. While over the year it has surged by 9.4%.

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.

BSE Sensex Witnesses Worst January Since 2017: Understanding the Drastic Fall

The BSE Sensex, India’s benchmark stock index, experienced a steep fall of 800 points on January 27, 2025, marking a decline of over 1%. This performance contributed to its worst January since 2017, with the index losing 3.5% so far this month. A significant rise in India VIX, up by 9% to 18.30, highlights growing market volatility.

Adding to the dismay, the market capitalisation of BSE-listed firms plummeted by ₹10 lakh crore in a single session, dropping below ₹410 lakh crore from ₹419.5 lakh crore in the previous session as of January 27, 2025. 

 

Key Drivers Behind the Downfall

  1. Weak Corporate Earnings
    Disappointing Q3 earnings from Indian corporates have dampened investor sentiment. Many sectors have reported slower-than-expected recoveries, further straining an already cautious market due to high valuations.
  2. Global Uncertainty
    Persistent foreign outflows and concerns around U.S. trade policy have compounded market pressures.
  3. Budget 2025 Speculations
    As the Union Budget 2025 approaches, markets are grappling with uncertainty. Investors are keenly observing whether the government will balance fiscal prudence with measures to boost consumption. Concerns over a potential shift toward populist measures or relaxed fiscal discipline could add further volatility.

Sectoral Performance: The Advance-Decline Ratio

The market breadth remained negative, with 24 stocks declining compared to just six advancing.

Historical Context: Worst January Since 2017

The 3.5% correction in January 2025 marks the worst monthly performance for the Sensex since 2017. The last significant January decline occurred in 2021 when the index fell by 3.07%.

Conclusion: A Month of Challenges

January 2025 has been a challenging month for Indian equities, with weak earnings, global headwinds, and investor uncertainty driving the Sensex to its worst start in 8 years. As Budget 2025 looms, all eyes remain on how policymakers. 

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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. 

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

Exicom and ChargeZone Unite to Revolutionise India’s EV Charging Landscape

India’s shift towards sustainable energy solutions has taken a significant leap with Exicom, a leader in EV charging solutions, joining forces with ChargeZone, a rapidly growing e-mobility company. This collaboration aims to establish over 500 high-power EV charging stations integrated with renewable energy, providing robust support for the country’s ambitious transition to emission-free mobility.

Partnership Highlights

  • 500+ High-Power EV Stations: The partnership envisions setting up future-ready charging hubs across key cities and highways, ensuring EV owners have reliable access to charging infrastructure.
  • Renewable Energy Integration: A major focus is the incorporation of renewable energy into these charging stations, enhancing their sustainability.

The share price of Exicom is trading 1.06% lower as of 2:11 PM on January 27, 2025.

Cutting-Edge Technology

Exicom’s flagship solution, Harmony Boost, will play a pivotal role in this venture. This battery energy storage system (BESS) supports faster charging and optimises energy use by reducing peak grid loads. This innovation reflects Exicom’s expertise in design-led manufacturing and software-driven remote management capabilities.

ChargeZone, known for its user-focused approach, will leverage its extensive network of over 1,500 charging stations and 2,700+ charge points to amplify this impact. Together, the two companies are addressing range anxiety while advancing scalable, sustainable EV infrastructure.

Focus on Sustainability

Aligned with India’s renewable energy goals, this partnership prioritises building environmentally conscious EV stations. By integrating advanced battery technology and sustainable practices, these stations promise reduced carbon footprints and optimised energy efficiency.

Industry Insights

Exicom and ChargeZone’s collaboration reflects a broader trend in India’s EV ecosystem, where partnerships are pivotal for scaling infrastructure and driving adoption. Such initiatives align with government objectives to bolster clean energy utilisation and achieve net-zero carbon emissions.

Statements from Industry Leaders

Exicom’s CEO, Mr. Anshuman Divyanshu, remarked, “Our intent is to meaningfully contribute to India’s growing emphasis on sustainable EV charging solutions. This collaboration with ChargeZone will help us launch reliable and high-power charging solutions including advanced battery and renewables integrated solutions that will contribute to establishing a greener mobility for tomorrow.” 

ChargeZone’s CEO, Mr Kartikey Haryani, revealed his vision for the collaboration, saying, “The partnership will enable us to scale sustainable EV charging infrastructure across India. We believe that accessibility, community empowerment, and sustainable practices are critical enablers of driving EV adoption in India, and we hope to contribute to this paradigm shift towards sustainability with Exicom’s advanced solutions and our extensive network.”

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.

Why is Nifty Falling? India VIX Surpasses 18 Mark; Key Events to Watch Out

The Indian stock market witnessed a sharp downturn as the NSE benchmark Nifty50 index fell below the 23,000 mark, registering a decline of over 200 points or 0.88%. This marked the lowest level for the index in seven months, with broader concerns around global and domestic factors influencing investor sentiment.

Key Reasons Behind the Decline

1. Global Trade Concerns and Geopolitical Tensions

The markets are rattled by escalating trade tensions as the US President threatened a 25% tariff on Columbia for its refusal to accept deported illegal immigrants. There is also speculation regarding the implementation of tariffs on Canada and Mexico from February 1, 2025, further stoking fears of trade disruptions.

Adding to this, uncertainties about the US President’s stance on China and other countries continue to weigh on global sentiment, creating ripple effects in emerging markets like India.

2. FII Sell-Off Intensifies

Foreign Institutional Investors (FIIs) have been pulling out funds at a record pace, exacerbating the market downturn. As of January 24, 2025, FIIs have sold equities worth ₹69,080 crore this month alone. 

3. Heavyweight Stocks Dragging the Index

Major contributors to the decline include blue-chip stocks like HDFC Bank, Reliance Industries, and IT giants Infosys and TCS. These stocks faced significant selling pressure, further driving the index down on January 27, 2025.

India VIX Surpasses 18: Market Volatility Spikes

A key indicator of market sentiment, the India VIX, surged past the 18 mark, climbing 7.5% on the day. This spike signals heightened uncertainty among investors and reflects concerns about the near-term outlook for equities. A rising VIX often indicates increased caution in the market, with participants bracing for potential volatility ahead.

Advance-Decline Ratio Reflects Market Weakness

The advance-decline ratio paints a grim picture, with 42 stocks declining and only 8 stocks gaining as of 12:25 PM on January 27, 2025. This stark imbalance underscores the widespread sell-off across sectors and the lack of buying support even at lower levels.

Key Events to Watch Out For

Investors will be closely monitoring a series of critical events in the coming days that could shape market movements:

  1. US Federal Reserve’s Interest Rate Decision
    The Federal Reserve’s upcoming decision on interest rates remains a focal point for global investors. Any signs of further tightening could lead to capital outflows from emerging markets like India.
  2. Union Budget 2025 Presentation
    The Union Budget, scheduled for February 1, 2025, is another significant event that could provide direction to the markets. The government’s fiscal policies, sector-specific allocations, and measures to boost economic growth will be keenly watched.
  3. US Bond Yields and Dollar Index
    Movements in US bond yields and the Dollar Index are crucial factors influencing global capital flows. Rising bond yields and a stronger dollar often trigger outflows from emerging markets, adding to the selling pressure.

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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. 

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

L&T Awarded Preferred EPC Contract For North Site of World’s First 24/7 Solar PV And Battery Storage Project

Larsen & Toubro (L&T) has been selected by Masdar, the Abu Dhabi-based clean energy giant, as one of the preferred Engineering, Procurement, and Construction (EPC) contractors for the north side of the world’s first 24/7 solar PV and battery storage gigascale project. This ambitious initiative is being developed in collaboration with the Emirates Water and Electricity Company (EWEC) to deliver consistent renewable energy in Abu Dhabi.

A Revolutionary Renewable Energy Project

Masdar, in partnership with EWEC, announced the Giga scale project during Abu Dhabi Sustainability Week (ADSW). The project is set to feature a 5.2GW (DC) solar photovoltaic (PV) plant coupled with a 19 gigawatt-hour (GWh) Battery Energy Storage System (BESS). This groundbreaking infrastructure will ensure a steady supply of baseload power, operating 24 hours a day, seven days a week. Divided into two sites, the project’s north and south sites will each house a 2.6GW and 9.5GWh PV capacity, making it the largest combined solar and BESS project globally.

Key Partnerships to Drive Clean Energy Innovation

Masdar’s Chief Operating Officer, Abdulaziz Alobaidli, highlighted the project as a milestone in clean energy transformation, addressing the intermittency of renewables and setting a benchmark in the sector. L&T Chairman & Managing Director, SN Subrahmanyan, emphasised the UAE’s leadership in sustainable progress, while T Madhava Das, Whole-time Director and Senior Executive Vice President (Utilities) at L&T, expressed pride in advancing clean energy deployment in the region.

L&T Share Performance

As of January 27, 2025, at 2:00 PM, L&T shares are trading at ₹3,444.65 per share, down 0.38% from the previous closing price. Over the last month, the stock has fallen by 4.53%. And over the year it has fallen by 7.15%


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.

Gold and Silver Prices on January 27, 2025: Check Rates in Your City

The yellow metal, gold, experienced profit booking on Monday, January 27, 2025, as the US dollar rebounded from a 1-month low. Spot gold prices in the international market dropped by 0.75%, trading at $2,752.07 per ounce as of 11:55 am IST. This downward trend was reflected in major metro cities across India.

In Mumbai, 24-carat gold is priced at ₹7,991 per gram or ₹79,910 per 10 grams, down by ₹340. Similarly, 22-carat gold is now ₹7,325 per gram or ₹73,251 per 10 grams.

In Delhi, the price for 22-carat gold stands at ₹73,132 per 10 grams, while 24-carat gold is ₹79,780 per 10 grams, witnessing a decline of ₹330.

Gold Prices Across Major Indian Cities on January 27, 2025

Here is a detailed breakdown of gold prices as of January 27, 2025:

City 24 Carat Gold (per 10gm in ₹) 22 Carat Gold (per 10gm in ₹)
Chennai 80,170 73,489
Hyderabad 80,060 73,388
Delhi 79,780 73,132
Mumbai 79,910 73,251
Bangalore 79,980 73,315

 

Silver Prices in India on January 27, 2025

Spot silver prices dropped sharply by 1.45%, trading at $30.21 per ounce. 

Silver Prices Across Major Indian Cities

City Silver Rate in ₹/KG 
Mumbai 90,450
Delhi 90,290
Kolkata 90,400
Chennai 90,780

Key Takeaways

  • Gold Prices: Both 22-carat and 24-carat gold prices saw declines, with 24-carat gold slipping below ₹80,000 in Delhi, Mumbai, and Bangalore, while prices in Chennai and Hyderabad remained above this mark.
  • Silver Prices: Spot silver prices declined sharply by 1.45% on January 27, 2025.

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.

India’s Banking System Faces Deepest Liquidity Deficit in 15-Year

For the first time since April 2010, India’s banking system has recorded a cash deficit of ₹3.3 lakh crore. This deficit, as measured by banks’ borrowings from the Reserve Bank of India (RBI), highlights a sharp contraction in systemic liquidity, raising concerns about borrowing costs and overall financial stability.

Key Reasons Behind the Liquidity Crunch

  1. Foreign Exchange Market Interventions:
    RBI’s active involvement in stabilising the rupee has drained liquidity. Recent forex market volatility has necessitated significant intervention, affecting cash flow in the banking system.
  2. Tax and GST Outflows:
    With periodic outflows due to tax payments and Goods and Services Tax (GST) settlements, substantial cash is temporarily locked out of circulation, tightening liquidity further.
  3. Capital Flow Volatility:
    Prolonged outflows by foreign investors have added to the liquidity strain. This has been compounded by rising global oil prices, which have further pressured the rupee and depleted reserves.
  4. Just-In-Time (JIT) Implementation:
    Movements in government cash balances under the JIT framework have impacted systemic liquidity, amplifying the current deficit.

RBI’s Response and Challenges Ahead

To address the liquidity deficit, the RBI has resorted to injecting funds into the system. Between December 16, 2024, and January 15, 2025, the central bank infused ₹11.5 lakh crore through Variable Rate Repo (VRR) operations with short maturities of 1 to 7 days. Despite these efforts, liquidity pressures persist.

Implications of Lower Liquidity

  • Higher Borrowing Costs:
    Banks facing liquidity shortages may transfer higher borrowing costs to consumers, potentially leading to increased lending rates.
  • Economic Growth Concerns:
    While some expect a rate cut in the RBI’s upcoming February meeting to spur growth, a liquidity surplus is critical for passing on the benefits of reduced interest rates.

The Rupee’s Performance and Its Impact

The rupee has faced consistent pressure due to extended foreign outflows and a surge in global oil prices. On January 14, the rupee hit an all-time low of ₹86.70 against the US dollar, losing 2.5% of its value in three months. Defending the currency has led to substantial spending of foreign reserves, sparking debate about the long-term sustainability of this approach.

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.

Who Will Lead SEBI Next? FinMin Invites Applications for Chairperson Role with ₹5.62 Lakh Monthly Salary

The Ministry of Finance has initiated the search for a new Chairperson for the Securities and Exchange Board of India (SEBI), with the current Chairperson, Madhabi Puri Buch, completing her term on February 28, 2025. This marks a significant leadership transition for India’s market regulator, responsible for safeguarding investor interests and regulating securities markets.

Eligibility Criteria for SEBI Chairperson

The advertisement released by the Department of Economic Affairs outlines stringent eligibility requirements to ensure only the most qualified candidates apply. The Ministry seeks individuals with:

  • Integrity, ability, and standing.
  • Expertise in securities markets or specialisation in fields such as law, finance, economics, accountancy, administration, or related disciplines.
  • Independence from financial or other interests that might prejudice their functions as Chairperson.

The role requires a leader who can effectively navigate the complexities of India’s evolving financial ecosystem.

Appointment Process

The Financial Sector Regulatory Appointments Search Committee (FSRASC) will oversee the selection process. While the committee will review formal applications, it may also consider individuals who have not applied directly. This inclusive approach ensures a wider pool of talent for this critical position.

Tenure and Compensation

The selected Chairperson will serve a maximum tenure of 5 years or until reaching 65 years of age, whichever is earlier. The appointee may choose between:

  • Pay equivalent to a Secretary to the Government of India, or
  • A consolidated salary of ₹5,62,500 per month, excluding housing and vehicle benefits.

This flexibility reflects the Government’s efforts to attract highly qualified candidates.

Leadership Legacy at SEBI

Madhabi Puri Buch, the outgoing Chairperson, made history as the first woman to lead SEBI. Her tenure began on March 2, 2022, and she brought a wealth of experience from her prior role as a Whole-Time Member of SEBI (2017–2022).

Notably, the usual tenure for a SEBI Chairperson is 3-year. However, exceptions have been made, as seen with UK Sinha and Ajay Tyagi, who served 6 and 5 years, respectively.

Conclusion

This invitation for applications underscores the Government’s commitment to appointing a leader capable of steering SEBI through India’s dynamic financial markets. The selected Chairperson will have the responsibility of upholding SEBI’s mandate to protect investor interests and ensure market integrity and applications open till February 17. 

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.

DeepSeek Impact: Is a Chinese AI Start-up Shaking the Market?

The US stock futures took a sharp hit early on Monday, January 27, reflecting a possible turbulent start for global markets. Nasdaq futures tumbled by nearly 400 points, with the Dow Jones futures following suit, down close to 200 points. This development is casting a shadow on the Indian stock market, particularly the Nifty 50, ahead of its January expiry and the Union Budget this weekend.

The Role of DeepSeek in Market Sentiment

The steep sell-off has been linked to DeepSeek, a Chinese AI start-up that has quickly made waves in the tech world. Emerging as the most downloaded free app on the iOS App Store, DeepSeek is being hailed as a formidable competitor to ChatGPT. With speculation around ChatGPT’s potential transition to a for-profit model, DeepSeek’s free alternative has attracted significant attention, prompting fears of a bubble burst in the US AI sector.

Cost Efficiency Redefining AI Development

DeepSeek has turned heads not only for its capabilities but also for the economics of its development. While ChatGPT’s training required 10,000 Nvidia GPUs and an estimated cost of $100 million to $1 billion, DeepSeek claims to have built a comparable model in just two months for $5.58 million, using only 2,000 GPUs. This stark contrast has raised eyebrows across the tech industry, potentially pressuring valuations of AI-centric companies like Nvidia, which enjoyed a massive 135% rally in 2024.

Potential Impact on US Tech Stocks

The emergence of DeepSeek has sparked broader concerns over the valuations of US tech companies heavily invested in AI. Nvidia, a key player in providing GPUs for AI development, is expected to remain under scrutiny. With market participants questioning whether DeepSeek could trigger a revaluation of AI technology costs, the tech-heavy Nasdaq is bearing the brunt of the sell-off.

The Bigger Picture: Global Market Implications

Beyond the Nasdaq, the ripple effects of this development are being felt in global markets. The Dow Jones snapped a 4-day winning streak last Friday and has continued its decline. Closer to home, the Nifty 50 index follows suit, as investor sentiment remains cautious ahead of critical domestic events like the Union Budget.

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.