Bandhan Mutual Fund Files Draft For CRISIL- IBX 10:90 Gilt + SDL Index – Dec 2029 Fund

Bandhan Mutual Fund has announced the Bandhan CRISIL-IBX 10:90 Gilt + SDL Index – Dec 2029 Fund, it is an open-ended target maturity index fund launched as a New Fund Offer (NFO). 

 

The fund primarily invests in government securities and state development loans (SDLs), tracking the CRISIL-IBX 10:90 Gilt + SDL Index – Dec 2029. The fund provides investors with a low-risk investment opportunity, maturing on December 31, 2029.

Asset Allocation

The Bandhan CRISIL-IBX 10:90 Gilt + SDL Index – Dec 2029 Fund primarily invests 90% of its portfolio in State Development Loans (SDLs), which are issued by state governments and typically offer a slight yield premium over central government securities. 

Additionally, 10% of the fund is allocated to Government Securities (G-Secs), seeking stability and lower credit risk. To maintain liquidity and meet redemption requirements, the fund may hold up to 5% in cash and money market instruments, providing flexibility in managing short-term cash flows.

New Fund Offer (NFO) Details

  • NFO Price: ₹10 per unit
  • Minimum Investment: ₹1,000 (lump sum), ₹100 for SIP (minimum six installments)
  • Exit Load: None
  • Investment Objective: The fund aims to generate returns that align with the CRISIL-IBX 10:90 Gilt + SDL Index – Dec 2029, subject to tracking errors. 

It does not guarantee or assure returns.

 

Category Details
Exit Load NIL
Lumpsum Purchase (NFO) ₹1,000 and in multiples of ₹1 thereafter
SIP (NFO) ₹100 and in multiples of ₹1 thereafter (Min 6 installments)
STP (NFO) ₹500 and any amount thereafter
Fresh Purchase (Ongoing) ₹1,000 and in multiples of ₹1 thereafter
SIP (Ongoing) ₹100 and in multiples of ₹1 thereafter (Min 6 installments)
SWP (Ongoing) ₹200 and any amount thereafter
STP (Ongoing) ₹500 and any amount thereafter
Booster SIP As applicable
Additional Purchase ₹1,000 and in multiples of ₹1 thereafter
Minimum Redemption ₹500 or account balance, whichever is less

Benchmark and Liquidity

The fund is benchmarked to CRISIL-IBX 10:90 Gilt + SDL Index – Dec 2029. Units can be bought or redeemed on any business day at NAV-based prices. If redemption proceeds are delayed beyond three working days, interest at 15% per annum is payable to investors.

Capital gains on units held for more than three years are taxed at 20% with indexation benefits.

Expense Ratio

The fund’s total expense ratio (TER) is capped at 1%, with an additional 0.30% for new inflows from smaller cities.

This is a fixed-maturity debt fund with no past performance record, as it is a new offering.

Risks

  • Interest rate fluctuations can affect fund returns.
  • There is a possibility of tracking errors as actual investments may deviate from the index.
  • SDLs and G-Secs have low credit risk but may face liquidity challenges in certain market conditions.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

Mutual Fund investments are subject to market risks, read all scheme-related documents carefully.

Bandhan Mutual Fund Files Draft For Fixed Maturity Plan – Series 213 (370 Days)

Bandhan Mutual Fund has announced Bandhan Fixed Maturity Plan – Series 213, which is a close-ended debt scheme with a fixed tenure of 370 days. The fund follows a structured approach by investing in a mix of debt and money market instruments that mature within the scheme’s tenure. 

Once the New Fund Offer (NFO) period closes, investors cannot make additional purchases or redemptions until maturity.

 

Feature Details
Scheme Type Close-ended debt scheme
Tenure 370 days
New Fund Offer (NFO) Price ₹10 per unit
Face Value ₹10 per unit
Minimum Investment ₹5,000 and multiples of ₹1 thereafter
Exit Load Nil
Benchmark Nifty Short Duration Debt Index A-II

Investment Objective and Strategy

The primary objective of the scheme is to generate income by investing in fixed-income securities that mature before or alongside the scheme’s tenure. The fund aims to minimise interest rate risk by holding securities till maturity. However, returns are not guaranteed and depend on market conditions.

Asset Allocation

  • Debt Securities: 70-100%
  • Money Market Instruments: 0-30%
  • Securitised Debt: Up to 40% of total debt assets

The scheme does not invest in derivatives, foreign securities, or structured obligations with credit enhancements.

Risk and Benchmark

The scheme falls under the B-I risk category, which means it carries relatively low interest rate risk and moderate credit risk. Its performance is benchmarked against the Nifty Short Duration Debt Index A-II, which represents short-term debt securities with similar risk characteristics.

Liquidity and Listing

Being a close-ended scheme, investors can only enter during the NFO period. Afterwards, units will be listed on BSE, allowing investors to trade on the exchange. There are no premature redemptions through the fund house.

Taxation and Fund Management

Taxation follows debt fund rules, meaning capital gains tax with indexation benefits applies if held for more than three years. The scheme is managed by Gautam Kaul, who has experience in debt markets and has previously managed various fixed-income funds.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

Mutual Fund investments are subject to market risks, read all scheme-related documents carefully.

Invesco India Balanced Advantage Fund Declares Income Distribution

Invesco India Mutual Fund has announced an income distribution of ₹0.15 per unit under the IDCW option (both regular and direct plans) for its Invesco India Balanced Advantage Fund. Investors looking to benefit from this distribution should take note of the record date, set for January 31, 2025.

Fund Overview and Asset Allocation

Launched on January 1, 2013, the Invesco India Balanced Advantage Fund is an open-ended fund that follows a dynamic asset allocation strategy. The fund seeks to generate capital appreciation and income by balancing equity and debt investments.

As of December 31, 2024, the fund holds ₹945 crore in assets under management (AUM). The allocation of assets stands at:

  • 57.11% in equity
  • 18.22% in debt
  • 24.67% in cash and cash equivalents

This approach is for the fund to adjust its exposure to market conditions.

Investment Details

For investors, the fund offers flexible investment options:

Investment Type Amount (₹)
Minimum Investment 1,000
Minimum Additional Investment 1,000
Minimum SIP Investment 500
Minimum Withdrawal 1,000
Minimum Number of Cheques 12

Exit Load and Expense Ratio

Investors looking to redeem units can consider the exit load policy. Exit load for units in excess of 10% of the investment, 0.25% will be charged for redemption within 3 months. The expense ratio for the fund stands at 0.82% as of December 31, 2024.

Performance and Risk

Since its launch, the fund has delivered a return of 13.00%. It follows the NIFTY 50 Hybrid Composite Debt 50:50 Index as its benchmark. The turnover ratio is notably high at 252%, indicating active portfolio adjustments.

While the risk grade is above average, the fund is classified under a “very high” risk category as per the Riskometer.

Fund Management

The fund is managed by Amit Ganatra and Dhimant Kothari, under Invesco Asset Management (India) Pvt. Ltd, with KFin Technologies Ltd serving as the Registrar and Transfer Agent.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

Mutual Fund investments are subject to market risks, read all scheme-related documents carefully.

ITI Mutual Fund Announces Fund Manager Changes Across Multiple Schemes

ITI Mutual Fund has announced a reshuffle in fund management responsibilities for several of its schemes, effective February 1, 2025. The changes impact important funds, bringing in a new approach while retaining some continuity.

Changes in Fund Management

ITI Mutual Fund has announced changes in fund management across multiple schemes, with the revised responsibilities set to take effect very soon. The reshuffle involves key personnel adjustments, with Laukik Bagwe replacing Rajesh Bhatia in several schemes, while certain co-fund managers retain their roles. 

Below is a detailed breakdown of the updated fund management structure:

Scheme(s) Existing Fund Managers New Fund Managers
ITI Arbitrage Fund Rajesh Bhatia, Rohan Korde (Co-Fund Manager), and Vikas Nathani (Co-Fund Manager) Laukik Bagwe, Rohan Korde (Co-Fund Manager), and Vikas Nathani (Co-Fund Manager)
ITI Balanced Advantage Fund Rohan Korde (Co-Fund Manager) and Rajesh Bhatia (Equity and Foreign Securities) Laukik Bagwe, Rohan Korde (Co-Fund Manager), and Rajesh Bhatia (Equity and Foreign Securities)
ITI Banking & PSU Debt Fund Rajesh Bhatia Laukik Bagwe
ITI Dynamic Bond Fund Rajesh Bhatia Laukik Bagwe
ITI Liquid Fund Rajesh Bhatia Laukik Bagwe
ITI Overnight Fund Rajesh Bhatia Laukik Bagwe
ITI Ultra Short Duration Fund Rajesh Bhatia Laukik Bagwe

Details and Implementation

These fund management changes are set to take effect from February 1, 2025. Investors in these schemes may refer to official ITI Mutual Fund communications for further details. Fund manager transitions occur periodically across the industry and are part of ongoing operational decisions taken by asset management companies.

All in all, ITI Mutual Fund has announced updates in fund management across multiple schemes, appointing Laukik Bagwe to oversee certain funds previously managed by Rajesh Bhatia. These changes will be implemented soon.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

Mutual Fund investments are subject to market risks, read all scheme-related documents carefully.

Western Carriers Secures ₹170 Crore Logistics Contract from Hindustan Zinc Ltd

Western Carriers (India) Ltd has secured a ₹170 crore contract from Hindustan Zinc Limited for multi-modal logistics services. WCIL will handle domestic and export transportation of zinc and lead ingots for HZL over 4 years, reinforcing its leadership in India’s logistics sector.

WCIL Wins ₹170 Crore Contract 

Western Carriers (India) Ltd (WCIL) secured a ₹170 crore contract from Hindustan Zinc Limited (HZL) for transporting zinc and lead ingots from smelting units in Rajasthan and Uttarakhand to ports and customer sites across India. The four-year deal covers both domestic and export logistics, strengthening WCIL’s presence in the supply chain sector.

Commitment to Efficient Logistics

CEO of WCIL, Kanishka Sethia highlighted HZL’s trust in their capabilities. As a leading multi-modal logistics provider, WCIL aims to deliver cost-effective and seamless transportation solutions to meet the growing needs of its customers.

Strong Nationwide Presence

With 50+ branch offices, 16 warehouses across 12 states and operations at 55+ rake handling points, WCIL ensures first-mile and last-mile connectivity. The company reported ₹854 crore in revenue and ₹37 crore in profit in H1 FY25, reflecting steady growth. 

The company’s broad reach and integrated logistics capabilities position it as a key player in supporting the expanding demands of industries requiring seamless transportation services.

Industry Leadership and Key Clients

Founded in 1972, WCIL specialises in providing integrated, end-to-end logistics solutions with a focus on rail-based transportation. The company is recognised as one of India’s leading 4PL logistics providers, offering customised supply chain management services. With expertise in handling domestic and international cargo, WCIL has built long-term partnerships with major corporations across multiple industries including metals, FMCG, pharmaceuticals and oil & gas.

WCIL Share Performance 

As of January 31, 2025, at 12:55 PM, shares of WCIL are trading at ₹108.70 per share, reflecting a surge of 6.97% from the previous day’s closing price. Over the past month, the stock has registered a slight loss of 4.69%.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.

IRDAI Caps Senior Citizen Health Insurance Premium Hikes at 10%

The Insurance Regulatory and Development Authority of India (IRDAI) has introduced a new regulation that caps annual premium increases for senior citizens’ health insurance policies by a maximum of 10%. This decision, announced in a press release dated 30 January, aims to address the financial challenges faced by elderly policyholders due to rising healthcare costs.

The directive follows growing concerns over steep premium hikes that have placed a significant financial burden on seniors, particularly those with limited income sources.

Restrictions on Premium Increases

Health insurance premiums for senior citizens have seen sharp and frequent hikes in recent years, making it difficult for many to afford continued coverage. To prevent excessive financial strain, IRDAI has now mandated that insurers cannot increase premiums by more than 10% annually.

If an insurance provider intends to raise premiums beyond this limit or withdraw any existing health insurance products meant for senior citizens, they must first seek approval from IRDAI. This measure ensures greater transparency and prevents sudden changes that could leave elderly policyholders without essential coverage.

In addition to the cap on premium hikes, this regulation aims to safeguard the interests of senior citizens by requiring insurers to follow a more structured approach while revising their pricing strategies. IRDAI’s intervention seeks to create a more predictable and manageable premium structure, enabling senior citizens to plan their healthcare expenses without unexpected financial shocks.

Additional Measures for Senior Citizens’ Benefit

Beyond limiting premium increases, IRDAI has also directed insurance providers to take further steps to enhance the accessibility and affordability of health coverage for senior citizens. Insurers are now required to publicise all measures they undertake for the benefit of elderly policyholders. 

This will improve awareness and ensure that seniors can make informed decisions regarding their health insurance policies.

Additionally, IRDAI has emphasised the need for standardisation in hospital empanelment procedures and the negotiation of fixed package rates for medical treatments. This approach mirrors the cost-control measures implemented under the Pradhan Mantri Jan Arogya Yojana (PMJAY), a government initiative that seeks to make healthcare more affordable for vulnerable populations.

By encouraging insurers to adopt similar strategies, IRDAI aims to ensure that senior citizens receive adequate medical care without facing exorbitant costs.

To ensure compliance with these new regulations, IRDAI will closely monitor the insurance market, particularly concerning the implementation of these guidelines for senior citizens’ health insurance products. The regulatory body aims to create a fairer and more transparent system that prioritises the well-being of elderly policyholders.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.

Granules Secure US FDA Nod for Lisdexamfetamine Dimesylate Capsules

Granules India Limited, established in 1991 and headquartered in Hyderabad, Telangana, is a vertically integrated pharmaceutical company specialising in the development, manufacturing, and distribution of Active Pharmaceutical Ingredients (APIs), Pharmaceutical Formulation Intermediates (PFIs), and Finished Dosages (FDs). 

Approval From the USFDA

Granules India Ltd, announced on January 30, 2025, that its subsidiary has received final approval from the United States Food and Drug Administration (USFDA) for its generic version of Lisdexamfetamine Dimesylate capsules. This medication is prescribed for the treatment of Attention Deficit Hyperactivity Disorder (ADHD).

The approval granted to Granules Pharmaceuticals, Inc. covers the Abbreviated New Drug Application (ANDA) for capsules in strengths of 10 mg, 20 mg, 30 mg, 40 mg, 50 mg, 60 mg, and 70 mg. The company confirmed that its product is both bioequivalent and therapeutically equivalent to Vyvanse capsules, developed by Takeda Pharmaceuticals USA, Inc., in the same strengths.

About Lisdexamfetamine Dimesylate

Lisdexamfetamine Dimesylate is indicated for managing ADHD in adults and children aged six years and above, as well as for treating moderate to severe Binge Eating Disorder (BED) in adults. Commenting on this milestone, Granules India’s Chairman and Managing Director, Krishna Prasad Chigurupati, said:

“This latest approval reinforces our stronghold in the ADHD therapeutic segment while expanding our portfolio of complex generics. It underscores our commitment to delivering affordable, high-quality treatments that cater to critical patient needs.”

Granules India Q3 FY25 Results

Granules India reported a 6% year-on-year decline in consolidated net profit, which stood at ₹118 crore for the quarter ending December 31, 2024, compared to ₹126 crore in the same period the previous year. Revenue from operations marginally slipped to ₹1,138 crore from ₹1,156 crore in the corresponding period last year.

However, the company demonstrated resilience, with North American operations contributing 77% to total revenue—an impressive increase from 66% in the previous year. Finished dosages constituted 76% of total revenue, while Active Pharmaceutical Ingredients (APIs) and pharmaceutical formulation intermediates contributed 12% each.

Share Price Performance 

At 9:25 AM on January 31, 2025, Granules India Ltd shares traded at ₹560.40 per share on the NSE.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.

PTC Industries and Government of Odisha Signs an MoU

PTC Industries Limited, a distinguished Indian manufacturer with a legacy spanning over six decades in precision metal components, has announced a monumental partnership with the Government of Odisha. The collaboration aims to set up a cutting-edge aerospace-grade titanium sponge manufacturing facility in the state.

Signed MoU with the Government of Odisha

On January 30, 2025, PTC Industries announced the signing of a Memorandum of Understanding (MoU) with the Government of Odisha to establish a state-of-the-art aerospace-grade titanium sponge manufacturing facility in the region.

 

In an exchange filing, the company stated that this initiative would position PTC among the select few companies globally with a fully integrated titanium manufacturing value chain — encompassing the production of titanium sponge, titanium alloy ingots, forged billets, rolled bars, rods, sheets, plates, and precision castings.

About Titanium Sponge

Titanium sponge forms the essential raw material for titanium alloys, which are indispensable for aerospace, defence, and advanced industrial applications. Notably, only a handful of nations, including the United States, Russia, Kazakhstan, and Japan, currently possess the technological prowess to produce aerospace-grade titanium sponges.

PTC Industries Q2 FY25 Results

PTC Industries has also reported impressive financial results. For Q2 FY24, the company posted a total income of ₹807.9 million, representing a stellar 34% year-on-year growth from ₹602.8 million. EBITDA surged by 60.8% to ₹296.6 million, with margins expanding to an impressive 36.7%. Profit After Tax (PAT) more than doubled, soaring 112.7% to ₹173.1 million.

Statement From the Management

“This MoU is a pivotal step towards fortifying India’s titanium industry. With the proactive support of the Odisha government and our technological expertise, we aim to establish a fully integrated titanium manufacturing ecosystem that meets the evolving demands of the global aerospace and defence sectors. 

We deeply appreciate the Odisha government’s visionary approach in enabling this significant opportunity and are eager to unlock its immense potential.”

Share Price Performance 

At 9:20 AM on January 31, 2025, PTC Industries Ltd shares traded at ₹13,520 per share on the NSE.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.

Nippon India Mutual Fund Revises Benchmarks for 2 Debt Schemes

Nippon India Mutual Fund has announced changes to the benchmarks for 2 of its fixed horizon funds, effective January 30, 2025. The revision aligns with the fund house’s objective of keeping its benchmarks relevant to evolving market conditions.

What’s Changing?

The affected schemes and their benchmark revisions are as follows:

Scheme Name Existing Benchmark Revised Benchmark
Nippon India Fixed Horizon Fund XLIII – Series 5 CRISIL Medium to Long-Term Debt Index CRISIL Medium to Long Duration Debt A-III Index
Nippon India Fixed Horizon Fund XLIV – Series 1 NIFTY Medium to Long Duration Debt Index NIFTY Medium to Long Duration Debt Index A-III

The modifications introduce a refined classification within the medium to long-duration debt category, which could impact how investors track fund performance against these benchmarks.

Understanding the Impact

Benchmarks serve as a reference point to measure a fund’s returns and risk-adjusted performance. A shift in the benchmark doesn’t alter the fundamental investment objective of the fund but can change how its performance is assessed. The move to A-III indices suggests a possible enhancement in risk assessment parameters.

For investors, these changes could mean minor variations in relative performance tracking. The CRISIL Medium to Long Duration Debt A-III Index and the NIFTY Medium to Long Duration Debt Index A-III may reflect different yield movements compared to their predecessors, as they account for additional market factors.

Should Investors Be Concerned?

Such updates bring out the fund house’s efforts to keep its debt schemes aligned with market dynamics, focusing on benchmarks that continue to represent relevant debt market trends.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

Mutual Fund investments are subject to market risks, read all scheme-related documents carefully.

Tata AIA Introduces Smart Pension Secure Plan for Retirement Planning

Tata AIA Life Insurance has launched the Smart Pension Secure Plan, a Unit-Linked Pension Plan (ULIP) designed to meet the rising demand for retirement solutions. This plan offers market-linked growth opportunities, enabling individuals to build a substantial retirement corpus with flexibility in fund allocation.

Market-Linked Investment with Flexibility

The Smart Pension Secure Plan is linked to the Tata AIA Alpha 50 Index Pension Fund, which allocates 80–100% of its assets to equity, tracking the Nifty Alpha 50 Index.

The New Fund Offer (NFO) is priced at ₹10 per unit and remains open until January 31, 2025. Policyholders have the option to allocate 100% of their premiums to equity, ensuring the potential for higher returns. Additionally, the plan allows unlimited fund-switching at no extra cost, offering greater flexibility in managing investments.

Policy Options and Accessibility

The plan is available in two variants:

  • Smart Pension Secure – Provides market-linked returns along with death benefits.
  • Smart Pension Secure Plus – Includes an additional premium waiver benefit in the event of the policyholder’s demise.

Key policy details include:

  • Entry Age: 35–75 years (varies by payment term).
  • Vesting Age: 45–85 years for single/limited pay; up to 75 years for regular pay.
  • Policy Term: Ranges from 10 years to the maximum vesting age.

The plan can be purchased through Tata AIA’s online platform and digital partners, allowing policyholders to customise and manage their plans digitally without physical documentation.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.