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Raghav Iyengar, Chief Business Officer at Axis MF, said that India investors have become smart. “I have an interesting observation, when the markets actually fall, we get more purchases. This is contrary to how it used to be 10 to 15 years back, where if the markets fell the retail investors were the first ones to panic,” he said. … [Read more...] about ‘Stay calm and invested’: Mutual fund experts advise investors during Covid-19

Mutual funds have started selling pledged shares of Zee Entertainment Enterprises (ZEE), rejecting the promoter's plea for an extension of the repayment deadline. ZEE shares slumped 10% on Monday to close at 272 despite a stellar broader market rally as SBI Funds Management sold shares worth 200 crore. Funds like ICICI Prudential and Kotak Asset Management are also believed to be on the verge of offloading the shares ahead of the repayment deadline of September 30. When contacted, an Essel Group spokesperson confirmed the sale of ZEE shares by some of the lenders. "Essel Group confirms that the lenders, which had not agreed to grant the extension, have exited by selling the pledged shares of ZEEL. The other lenders that value the assets have agreed in principle to grant more time to the group," he added. An email sent to Kotak, ICICI Prudential and SBI Funds Management did not elicit any response till the time of going to press.Read Also: Essel Group completes 1st tranche of … [Read more...] about Mutual Funds begin to sell pledged shares of ZEE as payment date nears

Business conglomerate Essel Group, on Tuesday announced the successful completion of the 1st tranche of ZEE Entertainment Enterprises Limited’s (ZEEL) stake sale to Invesco Oppenheimer Developing Markets Fund. As per the official communication issued on 31st July 2019, the Group had entered into an agreement to sell up to 11% promoter stake in ZEEL to the Fund. The Group said that it wishes to confirm that the 1st tranche of the transaction comprising sale of 8.7% stake in ZEEL has been concluded today. The Group is confident of completing the balance sale of 2.3% stake over the next few days. The Group is working towards timely completion of operational formalities in order to conclude the entire transaction at the earliest. The conglomerate added that this development reaffirms the Group’s positive progress on its overall asset divestment approach undertaken, to generate adequate liquidity for the repayment process. The Group is also working actively on further … [Read more...] about Essel Group completes 1st tranche of ZEEL’s stake sale to Invesco Oppenheimer Developing Markets Fund

K.G. Mathew, Principal, Excel Public School, which took forward the twinning programme, said the institute would continue its association with the paired school and added that interaction with his students indicated a change in their social sensitivity and responsibility. … [Read more...] about A partnership for mutual learning

The Enforcement Directorate (ED) informed the Delhi high court on Thursday that it froze 67 bank accounts of various Indian businessmen and companies in India on the request of Brazil, where a provincial governor is under investigation for embezzling funds. … [Read more...] about 67 Indian bank accounts under scanner over embezzlement fraud in Brazil frozen by ED