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November 11, 2024September 1, 2026

Mutual fund monthly SIP inflow crosses Rs 25,000 crore mark for first time

SIP inflow crosses Rs 25k crore in October 2024, a notable increase from ₹24,509 crore in September. This is the first time SIP inflows have exceeded the ₹25,000 crore mark.

The number of new SIP registrations also saw significant growth, with 63.7 lakh new accounts in October, up from 58.7 lakh in September.

As a result, the total number of SIP accounts rose to 10.12 crore, reflecting a 2.5% increase from 9.87 crore in the previous month.

The total Assets Under Management (AUM) from SIPs reached ₹13.30 lakh crore in October, marking a 2.3% rise from ₹13.01 lakh crore in September. This growth comes amid a broader trend of rising equity inflows, with the mutual fund industry recording its 44th consecutive month of positive inflows.

The retail folios have now crossed 17.23 crore, with the total AUM standing at ₹67.26 lakh crore.

Anish Mehta, National Head of Sales, Marketing & Digital Business at Kotak Mahindra Asset Management, noted that investors are increasingly favoring large-cap funds, particularly in the current market environment. He observed, “Investors are recognizing the stability of large-cap funds, and there’s also a shift toward multi-cap and flexi-cap funds for a more balanced risk approach.”

Venkat Chalasani, CEO of AMFI, commented on the broader trend, saying, “October 2024 marks the 44th consecutive month of positive equity inflows, continuing since March 2021. This sustained momentum in SIPs and AUM is a testament to the growing maturity of Indian investors, who are focusing on long-term wealth creation through mutual funds.

November 8, 2024September 1, 2026

Indian Hotels profit up by 232% for Q2, reaching ₹554 crore, with revenue rising by 27%.

Indian Hotels profit jumped 232% year-on-year to ₹554.6 crore in the quarter ended September 2024, compared with ₹167 crore in the same quarter of the previous fiscal year. The strong increase in quarterly profit was accompanied by a 27.4% rise in operating revenue, highlighting continued growth in the company’s hospitality business.

Indian Hotels Profit Rises 232%: Q2 Results

Indian Hotels Company Ltd. (IHCL) reported the results in its exchange filing, with EBITDA also recording strong growth during the quarter.

Operating revenue grew by 27.4%, rising to ₹1,826 crore compared to ₹1,433 crore in the prior year’s period. Total income for the current quarter reached ₹1,890.2 crore. Expenses for the company also saw an increase, climbing to ₹1,502 crore from ₹1,248.68 crore a year earlier.

In Q2 results, Indian Hotels profit up by 232%. The company’s Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) stood at ₹501.27 crore, up 41.3% from ₹354.78 crore in the year-ago quarter. On the NSE, shares of IHCL closed at ₹688.30 per share, marking a slight rise of 0.53%.

November 4, 2024September 1, 2026

India’s Factory Growth Speeds Up in October, PMI Reveals

India manufacturing PMI rose to 57.5 in October from 56.5 in September, signaling a renewed acceleration in the country’s factory activity after three consecutive months of slowdown. The improvement was supported by stronger domestic and international demand, rising new orders and increased business confidence.

The latest HSBC India Manufacturing Purchasing Managers’ Index (PMI), compiled by S&P Global, also showed that output and new orders reached their highest levels in three months, while manufacturers continued to increase hiring.

India Manufacturing PMI: October Growth Highlights

“New orders and international sales growth indicate strong demand for India’s manufacturing sector,” Bhandari added.

Both output and new orders hit a three-month peak, signaling heightened demand, with international demand recovering from a previous low in September. Rising demand for Indian goods saw orders from regions like Asia, Europe, Latin America, and the U.S., boosting the outlook for the coming year.

“Business optimism is high, driven by expectations of sustained consumer demand, upcoming product launches, and pending sales approvals,” Bhandari further noted.

With demand surging, companies ramped up hiring, marking the eighth consecutive month of employment growth. This trend may ease pressure on the government, which faces challenges in creating well-paid jobs for new workforce entrants. However, economists project moderate job creation over the next year, as per a recent Reuters survey.

Inflationary pressures rose, with input and output prices climbing. Input costs hit a three-month high due to increased material expenses, wage demands, and transportation fees, leading firms to pass these costs to clients more quickly than in September.

India’s inflation reached 5.49% in September, nearing the RBI’s 2-6% target range and primarily driven by rising food prices. Despite this, a recent Reuters survey indicated that a slim majority of economists expect the RBI to cut interest rates in December from the current 6.50% to 6.25%.

November 4, 2024September 1, 2026

Wiping Out Rs 8 Lakh Crore in Investor Wealth: Reasons Behind the Drop

Stock market decline wiped out around ₹8.44 lakh crore in investor wealth on Monday as Indian benchmark indices fell sharply amid caution over the U.S. presidential election, Federal Reserve policy and weak corporate earnings.

The BSE Sensex dropped 1,409 points, or 1.77%, to 78,316, while the Nifty 50 declined 454 points, or 1.87%, to 23,850. The sharp fall was led by banking, financial and IT stocks, while rising crude oil prices added to concerns among investors.

Stock Market Decline: Key Highlights

Top losers on the Sensex included Reliance Industries, Infosys, ICICI Bank, HDFC Bank, and Sun Pharma, which together contributed to a 420-point drop. Other major players like L&T, Axis Bank, TCS, and Tata Motors also added to the decline. Sector-wise, indices for Nifty Bank, Auto, Financial Services, IT, Pharma, Metal, Realty, Consumer Durables, and Oil & Gas recorded losses between 0.5% and 1.7%. Meanwhile, the India VIX, a measure of market volatility, rose by 5.2%, reaching 16.73.

Key Factors Behind the Market Decline

Caution Ahead of the U.S. Election
Investor sentiment in India was affected by the uncertainty of the upcoming U.S. presidential election on November 5, with a close race between Democratic Vice President Kamala Harris and Republican former President Donald Trump.
Anticipation of Fed Meeting Results
Investors are also cautious about the U.S. Federal Reserve’s policy meeting on November 7, where a quarter-point rate cut is expected. While this may encourage foreign investments in India, investors await the Fed’s stance, adding to market caution.
Weak Q2 Corporate Earnings
Disappointing Q2 results from Indian companies have further weighed on the market, with foreign investors offloading Indian stocks.“The Indian market faces challenges from slowing earnings growth, with Nifty’s estimated EPS growth for FY25 likely dropping below 10%. At current valuations of around 24 times FY25 earnings, sustaining a rally may be difficult,” said Vijayakumar.
Increase in Oil Prices
Oil prices surged over $1 early Monday following OPEC+’s decision to delay a planned output increase by one month. Brent futures rose by $1.18 to $74.28 per barrel, while WTI crude increased by $1.20 to $70.69 per barrel.

Category: Financial News

Mutual fund monthly SIP inflow crosses Rs 25,000 crore mark for first time

Indian Hotels profit up by 232% for Q2, reaching ₹554 crore, with revenue rising by 27%.

Indian Hotels Profit Rises 232%: Q2 Results

India’s Factory Growth Speeds Up in October, PMI Reveals

India Manufacturing PMI: October Growth Highlights

Wiping Out Rs 8 Lakh Crore in Investor Wealth: Reasons Behind the Drop

Stock Market Decline: Key Highlights

Key Factors Behind the Market Decline

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