The Midcap and Small Cap index outperformed Nifty by 28 percentage points and 34 percentage points respectively in FYTD24.

New Delhi: Mid- and small-cap funds accounted for 59 percent of assets under management and 87 percent of cash flows in FY24, according to global brokerage firm Jefferies.

The Midcap and Small Cap index outperformed Nifty by 28 percentage points and 34 percentage points respectively in FYTD24 (i.e. since April 2023), driven by strong inflows into the Mid and Small fund category, which accounted for 87 percent of the total inflow into the Large, Medium, Small, Large and Medium categories combined (FY23 71 percent), the brokerage said.

Assets under management now represent approximately 59 percent of the total assets under management of investment funds in the SMID categories (53 percent in Mar’23). Small Cap funds have seen a much larger increase in their AUM share since the Covid lows, which have increased by 10 percentage points (from 13.9 percent to 23.7 percent) compared to Midcap funds, which have increased by 5 percentage points since then have increased (30.2 percent to 34.8 percent).

The inflow into SMID ceiling schemes is decreasing, but the level of activity is high. While mutual fund outflows into SMID capitalization categories have seen a surge this year, they have gradually started to moderate, with outflows into small-cap funds falling from 71 percent of total inflows in the April-June quarter 23 to 35 percent in January-February. In 2024 this will still be 7 percentage points above the five-year average, according to the brokerage.

Midcap fund flows, on the other hand, have returned to the five-year average of 33.5 percent.

Volume in the Midcap and Small Cap sectors remains high, with Midcap volume against Nifty at its peak in late 2018 and 2022, while Small Cap index volume is well above peak, indicating some potential for more correction due to normalization of volumes, Jefferies said.

“We believe that small/mid cap, which has already undergone a 12 per cent/7 per cent correction from the Feb 24 peak, will see some pain due to the continued regulatory tightening,” the broker said in his report.

The Indian Banks’ Association and bank employee unions agreed on Friday to an annual wage hike of 17 percent.

New Delhi: A day after the Modi government announced a 4 per cent Dearness Allowance (DA) hike for central government employees, the Indian Banks’ Association and bank employee unions on Friday agreed to an annual wage hike of 17 per cent. This move will result in an additional annual expenditure of around Rs 8,284 crore for public sector banks.

As many as 8 lakh bank employees will benefit from the pay hike, which will come into effect from November 2022. The All India Bank Officers’ Confederation said in a joint note it was agreed to recognize all Saturdays as public holidays, pending notification from the government .

The revised working hours will come into effect after notification from the government, the report said. “The new pay scales have been constructed after merging the Dearness Allowance equivalent to 8,088 points and an additional tax on top of it,” the report said.

Under the new wage scheme, all female employees would be allowed to take one day of sick leave per month without providing a medical certificate. The accrued privilege leave can be redeemed for a period of up to 255 days at the time of retirement/on death of an employee while in service, the report said.

“Today marks an important milestone for the #banking sector as IBA and #UFBU #AIBOA #AIBASM and #BKSM signed the 9th Joint Memorandum and the 12th #Bipartite Settlement regarding the #salary revision for bank officers and employees, which was launched on 1 come into effect in November. January 1, 2022. @PIB_India #dfs,” IBA CEO Sunil Mehta said in a tweet.

Cabinet approves hike in DA for central government employees, MSP on jute increased

The Modi government on Thursday approved a 4 percent increase in dearness allowance for central government employees. The Union Cabinet has also approved the Minimum Support Price (MSP) for raw jute for the 2024-25 season at Rs 5,335 per quintal, an increase of Rs 285 per quintal over the previous season.

#WATCH | The Union Cabinet has approved an increase in Dearness Allowance for government employees and Dearness Relief for pensioners by 4% from January 1, 2024, Union Minister Piyush Goyal announced. pic.twitter.com/IsWUnwBGHW

— ANI (@ANI) March 7, 2024

Here are some of the key decisions taken by the Union Cabinet:

• The Union Cabinet approves an increase in Dearness Allowance for government employees and Dearness Relief for pensioners by 4 percent from January 1, 2024
• The Union Cabinet has approved the Minimum Support Price (MSP) for raw jute for the 2024-25 season at Rs 5,335 per quintal, an increase of Rs 285 per quintal over the previous season
• The Union Cabinet has approved a comprehensive national-level IndiaAI mission with a budget of over Rs 10,000 crores
• The Cabinet has approved the continuation of Rs 300 subsidy to consumers of Prime Minister Ujjwala Yojana till March 31, 2025. The total expenditure for this will be Rs 12,000 crores

Joey Graziadei had a lot of hope for his season of The Bachelorbut he wasn’t 100 percent sure it would work out for him if he went to his hometown.

“At that point, when I went to my hometown, I was probably 70/30 [or] 80/20 [percent confident it would work] because I could see that the relationships were happening, but we hadn’t gotten to the point where someone said they’re really in love with me, if there are real feelings, if they could see a future,” Joey, 28, said on “Bachelor happy hour” podcast episode on Thursday, February 29.

He continued, “Those conversations come later and during the conversation I think what you feel is, ‘Is it going to go further?’ Because that’s the way it is now, but: ‘Is it going to come to this?’ So there will always be twenty to thirty percent doubt until you know that someone thinks the same as you.”

Joey has four more participants heading to hometown dates: Daisy Kent, Kelsey Anderson, Maria Georgas And Rachel Nance. Each woman will introduce the tennis pro to their family during the Monday, March 4 episode.

During his hometown interview, Joey noted that he would definitely ask questions of his contestant’s family members and that he “wasn’t quick to judge” if he felt like something was “off.”

“There are so many dynamics and things that can affect whether it goes well or not,” he said. “If I felt any resistance from a family member, I would want to know more and ask why. Because I think it’s important to understand and not just go along with how they feel.”

Joey said he “learned not to judge completely outside of the hometown” after his own journey home didn’t go smoothly during Charity Lawsonseason 20 of The bachelorette. (During the 2023 season, viewers were introduced to Uncle Joe, who expressed doubts about Joey’s relationship with Charity, 28.)

“I can speak from experience: the reason why my uncle pushed so much and why he was insecure is because he protected me and made me feel that way,” he said. “And I really wanted to know which person I could possibly end.” [up] with because that was the last time he would see her if that was the case.

He continued: “The intentions were there, he was just a bit rough in the way he went about it. And I know other family members can be too.”

The Bachelor airs on ABC Mondays at 8pm ET.

Shares of Gensol Engineering Limited rose 2.61 percent to hit the day's high of Rs 1365.90. It is also 3.9% away from its 52-week high of Rs 1377.1.

Share market news: Equity benchmark indices Sensex and Nifty registered marginal gains in early trade on Wednesday as Asian markets witnessed mixed trends and investors waited for signals from the US Federal Reserve on the interest rate trajectory. The 30-share Sensex rose 60.05 points or 0.08 per cent to 73,117.45 points, while the broader Nifty rose 21.65 points or 0.1 per cent to 22,218.60 points. In the Sensex pack, 17 stocks were in the green, and among the Nifty stocks, 29 were trading with gains.

Amid this, shares of Gensol Engineering Limited rose 2.61 percent to hit the day's high of Rs 1365.90. It is also 3.9% away from its 52-week high of Rs 1377.1.

On technical parameters, Gensol Engineer stock is trading higher than the 5-day, 20-day, 50-day, 100-day and 200-day moving averages.

According to data available on the BSE, the stock has given a multi-bag return of 315 percent in one year. In two years, the counter shows a positive return of 1349 percent.

While JSW Steel rose over 2 percent, Mahindra & Mahindra, Tata Steel and Bharti Airtel rose over 1 percent in early deals.

Earlier, Asian markets witnessed mixed trends, with Hong Kong's Hang Seng and China's SSE Composite Index posting gains, while Japan's Nikkei 225 traded near flat.

European markets closed mixed on Tuesday. Sensex remained in the positive territory for the sixth straight session on Tuesday, rising 349.24 points to close at 73,057.40 points, while Nifty rose 74.70 points to end the day at 22,196.95 points.

Disclaimer: The article is for information purposes only and not for investment advice.

SIR JIM RATCLIFFE says his work to return Manchester United to the top flight of English football begins now.

His £1.3 billion takeover of 27.7 percent of the club is now officially complete.

1

The deal was approved by the Premier League last week and ALSO received FA approval.

Sir Jim said: “Becoming part owner of Manchester United is a great honor and comes with great responsibility.

“This marks the completion of the transaction, but just the start of our journey to return Manchester United to the pinnacle of English, European and world football, with world-class facilities for our fans. The work to achieve these objectives will will gain momentum from today.” .”

And executive co-chairman Joel Glazer said he looks forward to a “bright future” now with Ratcliffe on board.

Joel Glazer said: “I would like to welcome Sir Jim as co-owner and look forward to working closely with him and INEOS Sport to deliver a bright future for Manchester United.”

His ownership will increase to 27.7 percent following the initial capital investment of $200 million with the issuance of new shares and then to 28.9 percent on December 31 after a further investment of $100 million.

Ratcliffe had already taken charge of football operations at the club.

He has wasted no time in making big appointments at Old Trafford's top flight too.

HOW TO GET FREE BETTS ON FOOTBALL

The INEOS chief has already poached Manchester City CEO Omar Berrada.

He is now negotiating to release Dan Ashworth from his contract at Newcastle United to become Old Trafford's new sporting director.

He has already looked at plans to build a brand new 'Wembley of the North' to replace Old Trafford and make changes to Carrington's training ground.

Ratcliffe's positive steps have already given United a 'new energy'.

Since his involvement was first officially announced on Christmas Eve, United have won seven and drawn one of nine in all competitions.

MAN UTD NEWS LIVE: All the latest news from Old Trafford

The company has set February 26 as the record date to determine shareholder eligibility for this corporate action.

New Delhi: Fineotex Chemical Limited has announced its quarterly results and net sales increased by 26.75 percent to Rs 138.45 crore and net profit by 46.49 percent to Rs 22.47 crore in the third quarter of FY24, compared to the corresponding quarter in FY23. In the nine-month results, net sales rose 9.66 per cent to Rs 415.95 crore and net profit rose 42.57 per cent to Rs 90.55 crore in 9MFY24 compared to 9MFY23.

Meanwhile, the company has also announced an interim dividend of Rs 1.20 per equity share or 60 percent. The company has set February 26 as the record date to determine shareholder eligibility for this corporate action.

“An interim dividend of 60% declared, i.e.; Rs. 1.20/- per equity sh are (face value Rs 2 each), aggregating to Rs.13.29 Crores. The record date is February 26, 2024 and the dividend will be paid on or before March 12, 2024,” the company said in an exchange filing.

Consolidated Quarter Q3-FY 2023-2024 (annualized)

1. Operating revenue for the quarter increased to -Rs. 13,845.18 Lakhs of -Rs. 10,922.96 Lakhs i.e. a growth of 26.75%.

2. Operating EBITDA for the quarter increased to -Rs. 4,035.23 Lakhs of -Rs. 2,855.03 Lakhs i.e. a growth of 41.34%.

3. Profit after tax (PAT) for the last quarter increased to -Rs. 3,292.51 Lakhs of -Rs. 2,247.55 Lakhs, i.e. a growth of 46.49%.

b) Consolidated nine-month financial year 2023-2024 (annualized)

1. Operating EBlTDA for the nine months increased to -Rs. 11,009.13 Lakhs of -Rs. 7,988.53 Lakhs i.e. a growth of 37.81%.

2. Profit after tax (PAT) for the nine ended months increased to -Rs. 9054.94 Lakhs from -Rs. 6,355.49 Lakhs i.e. a growth of 42.47%.

Earlier in January, the company said its board of directors had approved conversion of 60 lakh warrants into equity shares of face value of Rs 2 each.

New Delhi: Pritika Auto Industries has reported a consolidated net profit of Rs 2.97 crore in the third quarter of FY24. This is an increase of more than 6 percent on an annual basis. PAIL had a net profit of Rs 2.79 crore in the third quarter of FY2023. However, its revenue from operations for the quarter fell 8.98 per cent to Rs 70.83 crore from Rs 77.82 a year ago, it said company in a grant application.

Earlier in January, the company said its board of directors had approved conversion of 60 lakh warrants into equity shares of face value of Rs 2 each. The issue price of these warrants is Rs 19.

The board also approved the capital increase by Pritika Engineering Components Limited (PECL), a subsidiary of the company. The capital will be raised through preferential issue of up to 32,00,000 equity shares of face value of Rs 10 each and up to 6,00,000 convertible warrants.

In December, the National Company Law Tribunal (NCLT) approved the agreement between Pritika Industries Limited (PIL) and Pritika Auto Industries Limited (PAIL) for demerger of the automotive, tractor and engineering parts businesses.

The approval was granted by the Chandigarh Bench of the National Company Law Tribunal on December 4. Once the scheme comes into effect, the demerged company will be known as Pritika Industries Limited (PIL) and the resulting company will be Pritika Auto Industries Limited (PAIL).

As per the exchange filing, eligible shareholders of Pritika Auto Industries (PAIL) would get 10 shares of Pritika Industries (demerged company) for every 63 shares of PAIL of face value of Rs 2 each.

Disclaimer: The article is for information purposes only and not for investment advice.

A company named Vikas Life Care LLC will be incorporated in the UAE with an authorized share capital of AED 10 lakh.

Share market news: Shares of Vikas Lifecare were trading at a slightly weak level of Rs 7.30 on Thursday in a bearish stock market. Vikas Lifecare Limited is a company with a market capitalization of Rs 1130 crore and its shares have a 52-week high of Rs 8 and a 52-week low of Rs 2.5. From its 52-week low, shares of Vikas Lifecare Limited have given investors a whopping 200 percent return, making them rich.

Vikas Lifecare Limited has informed the stock market that its board of directors met on February 8, during which the company entered into a share purchase agreement with Vikas Garg and Advik Capital Limited to acquire a company. Vikas Lifecare Limited is set to acquire 75 lakh shares or 33.26% stake in Industrial Investment Trust Limited.

Vikas Lifecare Limited has entered into a share purchase agreement to acquire 33.26% stake in Industrial Investment Trust Limited (IITL). IITL holds 71.74% stake in IITL Projects Limited. Vikas Lifecare Limited has said that it will make an open offer in accordance with SEBI regulations to acquire stake in IITL or IITL Projects Limited.

Industrial Investment Trust Limited has an authorized share capital of Rs 35 crore and 3 crore shares of Rs 10 face value, while there are 50 lakh preference shares. Vikas Life Care Limited has also recently decided to change the management of the company. The company has decided to transfer the management of the company to a new team, in line with the company management structure.

A company named Vikas Life Care LLC will be incorporated in the UAE with an authorized share capital of AED 10 lakh. 1000 shares of the company will be issued at AED 1000 per share.

Disclaimer: The article is for information purposes only and not for investment advice.

Salasar Techno Engineering has informed the stock exchange that the company's board of directors has approved the results for the third quarter of the current financial year.

Share market news: The BSE Sensex was trading 19 points higher at 72,205 at 10:45 am on Wednesday, while the Nifty was trading 21 points higher at 21,950. Amid a bullish stock market, shares of Salasar Techno Engineering Limited were trading 4.95% higher at Rs 33.95 on Wednesday morning. Salasar Techno Engineering is a company that has given multibagger returns to investors in the stock market.

Shares of Salasar Techno Engineering, which has a market capitalization of Rs 5,370 crore, have also hit a 52-week high. The last 52-week low of Salasar Techno Engineering stock is Rs 7.25. In the last five days, shares of Salasar Techno Engineering have given investors a return of 21 percent, while in the last one month they have posted a record return of 136% from the Rs 14.41 level.

In the last six months, shares of Salasar Techno Engineering have made investors rich by delivering a return of 238% from a low of Rs 10. On February 7, 2023, shares of Salasar Technology Engineering were trading at the level of Rs 8.76 , on which investors received a return. bumper efficiency of 288 percent.

Shares of Salasar Techno, which hit a low of Rs 7.25 on March 28, 2023, have made investors rich by delivering bumper returns of 350% in just a period of 10 months. Salasar Techno Engineering has informed the stock exchange that the company's board of directors has approved the results for the third quarter of the current financial year.

Salasar Techno Engineering has told the stock market that its operating income from operations rose 26.02% to Rs 303.18 crore in the third quarter of the current fiscal from Rs 240.8 crore.

The company's EBITDA rose 56% from Rs 24 crore to Rs 37.46 crore compared to the third quarter of the previous fiscal. The company's profit before tax rose 61% from Rs 14.39 crore to Rs 23.12 crore compared to the third quarter of the previous fiscal. The company's net profit after tax rose 57% to Rs 16.75 crore from Rs 10.69 crore in the third quarter of the previous fiscal.

Disclaimer: The article is for information purposes only and not for investment advice.

New Delhi-based STEL is a steel structure manufacturer and EPC infrastructure company, providing services in telecom, energy and railways.

Share market news: Salasar Techno Engineering Limited (STEL) on Saturday reported a 56 per cent rise in consolidated net profit to Rs 16.76 crore for the December quarter. In its stock exchange filing, the company has posted a net profit of Rs 10.69 crore during the October-December quarter of 2022-2023.

The company's total revenue rose to Rs 304.35 crore from Rs 240.93 crore in the same period last year. Expenses stood at Rs 281.22 crore, compared to Rs 226.54 crore in the third quarter of last fiscal.

New Delhi-based STEL is a steel structure manufacturer and EPC infrastructure company, providing services in telecom, energy and railways.