MOSL: Morning India (18/July/17)-1. Fund Folio-2. Solar Industries (Corner Office)-3. EcoScope-4. ITC-5. ACC-6. Jubilant Food 7. DCB Bank
​MOrning India (18/July/17): 1. Fund Folio; 2. Solar Industries (Corner Office); 3. EcoScope; 4. ITC; 5. ACC; 6. Jubilant Food; 7. DCB Bank; 8. Hindustan Media
Today’s top research idea
Fund Folio: AUM up 6.7% QoQ in 2QCY17; Defensives preferred in June
Domestic mutual fund industry average AUM increased for the 15th consecutive quarter in 2QCY17 (+6.7% QoQ) to a new high of INR19.6t. On YoY basis, average AUM saw a 35% rise (INR5.1t).
Equity AUM rose for the seventh consecutive month in June to scale a new high of INR5.9t (+1.3% MoM and +38% YoY).
The month saw a notable change in sector and stock allocation of funds. Defensives' weight increased from 23.7% in May to 24.2% in June, as the weights of Healthcare, Consumer, Telecom and Utilities increased, while Technology saw a decrease on MoM basis.
Domestic cyclicals' weight fell by 40bp to 66.5%, as the weights of Auto and Capital Goods declined, while those of Financials saw an increase.
NBFCs' sector weight reached a new high of 7.2% (+130bp YoY). As a result, the sector has risen to the fourth position in sector allocation of mutual funds - it was at the eighth position 12 months ago.
Piping hot news
GST impact on cigarettes: Council hikes cess after surprise windfall gains
The Goods and Services (GST) Tax Council on Monday increased the cess on cigarettes to correct the unintended outcome of a reduced tax incidence on the demerit good after the roll-out of the new tax.
Motilal Oswal Financial Services Ltd. is a reputed name in Financial Services and Online Trading with group companies providing services such as Private Wealth Management, Retail Broking and Distribution, Institutional Broking, Asset Management, Investment Banking, Private Equity, Commodity Broking, Currency Broking, Principal Strategies & Home Finance.
Motilal Oswal Securities is a group company of Motilal Oswal Financial Service Limited which started as a stock trading company and has blossomed into well diversified firm offering a range of financial products and services. Motilal Oswal has built a reputation as the source for best stock trading company and this has taken a wealth of experience, knowledge and expertise, constantly working in tandem, over the years.
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