AMC & product-related updates
New fund launches continued across segments. Motilal Oswal introduced the BSE Top 10 Banks ETF on April 9.
Axis Mutual Fund announced the Nifty India Defence Index Fund, which will be open from April 10 to April 24. Kotak Mutual Fund also rolled out a Multi-Asset Active Fund of Funds, with subscriptions open between April 8 and April 22.
Groww launched an Arbitrage Fund, with the offer closing on April 22.
PPFAS Asset Management received approval from PFRDA to enter the pension fund space under NPS and will set up a separate entity for this business.
Tata Mutual Fund has restarted lump-sum investments in its Small Cap Fund after a correction in small-cap stock valuations.
Regulatory & policy developments
SEBI has brought in a new system for pledged shares. It introduces non-transferable tagging and requires exchanges and depositories to make system-level changes.
On the IPO front, NSE is working towards filing its DRHP by June, with a potential listing before December. Separately, IPO pipelines worth about $5.4 billion remain active under relaxed norms.
Banks have reduced their exposure to rupee arbitrage trades, exiting positions worth around $40 billion to align with RBI rules on FX limits.
Mutual fund & distribution signals
Smaller distributors have raised concerns regarding the updated expense ratio framework. Industry representatives have said the changes could affect distributor earnings.
One fund manager indicated that recent market corrections have brought valuations to more reasonable levels in some sectors.
In the debt market, yields moved higher. The 10-year bond yield was around 6.94% as crude oil prices increased amid geopolitical developments.
Markets & sectoral trends
Crude oil prices moved up as concerns around ceasefire stability resurfaced.
Developments in energy markets continued, with reports of LNG supply disruptions and discounted Russian LNG being offered to Asian buyers.
Global investment activity showed movement, with foreign investors allocating funds into Japanese equities after a recent pause.
Corporate actions, capital flows & business developments
Om Power Transmission opened its IPO on April 9 to raise ₹150 crore, with a price band of ₹166 to ₹175.
Capri Global Capital announced a ₹500 crore NCD issue offering coupon rates of up to 9.50%, with tenors ranging from 24 to 120 months.
TCS declared a final dividend of ₹31 per share, subject to shareholder approval.
The World Bank revised India’s FY27 GDP growth estimate to 6.6% and noted risks from higher energy prices and geopolitical factors.
GAIL India plans to raise ₹5,000–₹6,000 crore in FY2027 for expansion.
Glenmark Pharma received approval from the USFDA for progesterone inserts, targeting a market size of $59 million.
Source: Moneycontrol, CNBC TV18, Economic Times, Cafemutual
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