MOSL: Morning India (15/November/19): 1. Fund Folio (AUM surpasses INR26t+ to achieve another milestone); 2. Financials; 3. Bharti Airtel; 4. ONGC; 5. Pidilite Industries; 6. Vedanta; 7. Grasim Inds; 8. Page In
MOrning India (15/November/19): 1. Fund Folio (AUM surpasses INR26t+ to achieve another milestone); 2. Financials; 3. Bharti Airtel; 4. ONGC; 5. Pidilite Industries; 6. Vedanta; 7. Grasim Inds; 8. Page Industries; 9. Ashok Leyland
Today’s top research theme
Fund Folio: AUM surpasses INR26t+ to achieve another milestone
- After reaching a landmark of INR25t for the first time last year, the domestic mutual fund (MF) industry AUM has now surpassed another key level of INR26t.
- Gross sales of equity schemes (including ELSS and arbitrage) were down 3% MoM to INR243b. At the same time, redemptions increased 10% MoM to INR149b. Consequently, net inflows slowed down from INR116b in the previous month to INR94b in Oct'19 - the lowest in six months.
- On an MoM basis, the weight of Automobiles, PSU Banks, Oil & Gas, Healthcare and Consumer increased, while that of Technology, Capital Goods, Private Banks, NBFCs, Cement, Metals and Telecom moderated.
- Technology's weight hit a 17-month low of 8.2% (-50bp MoM, -110bp YoY). Oil & Gas' weight increased for the fourth successive month (+30bp MoM, +170bp YoY) to hit an all-time high of 8.7%.
Piping hot news
Airtel, Vodafone Idea post record losses in Q2
Vodafone Idea Ltd and Bharti Airtel Ltd have posted record losses in the September quarter, ravaged by an unfavourable Supreme Court verdict that upheld the government’s broader definition of revenue on which it calculates levies on telecom operators. Vodafone Idea’s loss for the September quarter widened to ₹50,922 crore from ₹4,874 crore in the year earlier, as it set aside money to pay dues to the government following last month’s adverse court order.
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