ICICI Prudential Mutual Fund to Launch CRISIL-IBX AAA Bond Financial Services Index Dec 2026 Fund

ICICI Prudential has launched its CRISIL-IBX AAA Bond Financial Services Index – Dec 2026 Fund, an open-ended index fund that aims to track the CRISIL-IBX AAA Financial Services Index – Dec 2026. 

This fund is designed to invest in securities maturing on or before December 2026, offering investors a low to moderate-risk option for financial growth. The fund opened for subscription today, on January 17, 2025, and will close on January 24, 2025, with allotment on the same closing day.

Key Features and Investment Plans

The fund comes in two plans: Direct Plan and Regular Plan, with investment options of Growth and IDCW (Income Distribution cum Capital Withdrawal). Investors can start with a minimum investment of ₹1,000, making it accessible to a wide audience. 

As per SEBI guidelines, a 0.005% stamp duty will be levied on all purchases, including SIP, STP, lump sum, and dividend reinvestment.

Exit Load and Risk Assessment

The fund has an exit load of 0.25% of the sell value if redeemed within 30 days, while no exit load applies after the first 30 days. Rated as low to moderate risk, it is ideal for investors seeking stable returns with limited exposure to market volatility.

Fund Management and Objectives

The fund is managed by Darshil Dedhia and Rohit Lakhotia, with its primary objective being to track the index efficiently while minimising tracking errors. This approach will help with a consistent alignment with the performance of AAA-rated financial services securities maturing by December 2026.

Additional Details

The AUM (Assets Under Management) of ICICI Prudential stands at ₹901,000.4 crore as of December 31, 2024, showing the trust of its vast investor base. The fund registrar is Computer Age Management Services Pvt. Ltd., with investor services handled by Mr. Rajen Kotak.

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

PFC Secures 120 Billion Yen Loan from JBIC to Support Renewable Energy Projects

Power Finance Corporation (PFC), a government-owned financial institution, has entered into an agreement with the Japan Bank for International Cooperation (JBIC) to secure a ¥120 billion (approximately ₹6,600 crore) loan for renewable energy initiatives. The agreement, signed on Wednesday, marks the largest green financing deal JBIC has ever executed with an Indian company.

Power Finance Corporation Ltd was trading at ₹437.65, as of 10:28 AM on January 17,  up 0.52% today, with a 20.08% drop over 6 months but an 11.49% gain over the past year.

Loan Details and Allocation

Under the agreement, JBIC will provide ¥72 billion, while the remaining amount will be funded by commercial banks. The long-term loan, with a tenor of up to 20 years, will be utilized by PFC to finance renewable energy projects as part of India’s transition to non-fossil fuel-based energy sources.

JBIC’s Green Initiative

The funding comes under JBIC’s “Global Action for Reconciling Economic Growth and Environmental Preservation” (GREEN) initiative, which supports projects aimed at reducing greenhouse gas emissions and preserving the global environment. The initiative aligns with India’s commitment to achieving net zero carbon emissions and transitioning to cleaner energy sources.

Agreement Signing

The loan agreement was signed by Parminder Chopra, Chairman and Managing Director of PFC, and Ogawa Kazunori, Senior Managing Director of JBIC. Takashi Ariyoshi, Minister and Deputy Chief of Mission at the Embassy of Japan, and Shibuya Atsuki, Deputy Director General at JBIC, were present at the signing.

Focus on Renewable Energy

PFC, a Maharatna public sector enterprise, is focusing on expanding its green energy portfolio. Its FY24 annual report talks about plans to grow its lending by maintaining its share in conventional sectors while diversifying into emerging power and infrastructure projects. The company aims to establish itself as a nodal agency for India’s net zero goals.

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

KPI Green’s Arm Secures 62.20 MW Solar Project Order

KPI Green Energy’s subsidiary, Sun Drops Energia Private Limited, has bagged an order to develop solar power projects with a cumulative capacity of 62.20 MW. These projects fall under the Captive Power Producer (CPP) segment and are expected to be completed in the financial year 2025-26, executed in phases as per the agreement.

The company’s latest project order increases its total capacity under the CPP segment to 152.34 MW. These projects were secured under the Distributed Renewable Energy Bilateral Purchase (DREBP) Policy, part of the Gujarat Renewable Energy Policy 2023, and comply with GERC Tariff Orders No. 5 and 6 of 2024.

Recent Projects and Developments

KPI Green Energy has been active in the solar energy space, with projects coming online recently. Earlier this year, it commissioned a 15 MW solar project in collaboration with Gujarat-based Aether Industries, featuring AutoTracker Modules. In another development, Coal India Limited awarded the company a contract to set up a 300 MW solar project in Gujarat’s Khavda region. This project stemmed from a tender released by Gujarat Urja Vikas Nigam Ltd.

Current Capacity and Order Book

The addition of this latest order brings KPI Green Energy’s cumulative order book in the CPP segment to 1.60 GW. All current projects remain focused on the domestic market. The company has yet to reveal detailed plans for international expansion but has acknowledged receiving inquiries from global players.

KPI Green Energy Ltd is trading at ₹433.00, up 1.01% today as of 1:53 PM, with a 36.98% rise over the past year but a 36.28% dip in the last six months.

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

NESCO Wins a Contract to Develop Raipur Visakhapatnam Expressway

New Standard Engineering Company Ltd, NESCO Ltd, is a distinguished Indian conglomerate with diversified interests spanning infrastructure and hospitality. Headquartered in Mumbai, the company is widely celebrated for its iconic Bombay Exhibition Centre (BEC), one of the country’s premier venues for trade shows, exhibitions, and grand events.

Contract for Expressway With ₹300 Crores Revenue Potential

Mumbai-based NESCO Ltd has once again demonstrated its prowess in infrastructure development by securing a prestigious contract from National Highways Logistics Management Limited (NHLML). This coveted project forms a critical part of the visionary Bharatmala Pariyojana initiative, which is redefining India’s roadway infrastructure landscape.

Under the terms of the agreement, NESCO will spearhead the development of a pivotal section of the Raipur-Visakhapatnam Expressway, a transformative undertaking aimed at enhancing connectivity between Raipur in Chhattisgarh and Visakhapatnam in Andhra Pradesh two vital economic centres. 

This expressway is set to significantly slash travel time, unlock new trade opportunities, and serve as a catalyst for regional economic advancement. The estimated annualised revenue from these sites is Rs 300 crore from year four of operations.

The period of the lease will be 30 years with the first right of refusal for extending the lease agreement for another 30 years. The project has to be completed within 10 months.

The total cost that Nesco has to incur for the development of wayside amenities is estimated at Rs 50 crore for each of the four sites. 

Importance of Raipur-Visakhapatnam Expressway

Touted as a game-changer, the Raipur-Visakhapatnam Expressway is expected to revolutionise logistics and transportation efficiency while fostering socio-economic growth along its route. By undertaking this ambitious endeavour, NESCO reaffirms its dedication to contributing to India’s growth narrative through cutting-edge infrastructure solutions.

Share Price Performance 

At 2:09 PM today, NESCO Ltd. shares traded at ₹996.55 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.

ICICI Prudential Mutual Fund Announces Income Distribution Under its Fund

ICICI Prudential Mutual Fund has declared an income distribution of ₹1.40 per unit under the IDCW (Income Distribution cum Capital Withdrawal) option of its ICICI Prudential Transportation and Logistics Fund. The announcement is applicable to both regular and direct plans of the scheme.

Record Date 

The record date for determining the eligibility of investors for this income distribution has been set for January 16, 2025. Investors holding units of the fund on this date will qualify to receive the payout.

Fund Objective and Strategy

The ICICI Prudential Transportation and Logistics Fund aims to generate long-term capital appreciation by focusing on equity and equity-related securities. The scheme specifically invests in companies within the transportation and logistics sectors. By targeting these industries, the fund seeks to capture growth opportunities in a niche yet crucial segment of the market.

Asset Allocation Breakdown

As of now, the fund’s portfolio comprises 95.56% equity investments and 4.44% in cash and cash equivalents. This allocation shows its equity-centric strategy while maintaining a minor allocation in liquid assets for flexibility.

Sector Specific Investment Focus

Transportation and logistics are industries closely tied to economic performance, and the fund aligns its investments with companies engaged in these sectors. This sectoral approach allows the scheme to leverage the potential growth of businesses in areas such as freight, passenger transportation, warehousing, and supply chain management.

Additional Details

Investors are encouraged to note the record date and ensure eligibility for the income distribution. This declaration aligns with the fund’s objective of delivering value through targeted investments.

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

Axis Mutual Fund Announces Income Distribution for Select Funds

Axis Mutual Fund has announced income distribution under the Income Distribution cum Capital Withdrawal (IDCW) option for several of its funds. The record date for this distribution is set as January 17, 2025. Here’s a breakdown of the schemes and their respective distribution amounts per unit:

Details of IDCW Announced

Scheme Direct-IDCW (₹/unit) Regular-IDCW (₹/unit)
Axis Bluechip Fund 1.36 0.96
Axis ELSS Tax Saver Fund 4.57 2.15
Axis Focused Fund 2.91 1.64
Axis Growth Opportunities Fund 1.90 1.50
Axis Midcap Fund 4.72 3.59
Axis Small Cap Fund 4.69 4.03

Important Dates and Notes

The record date for this income distribution is January 17, 2025. Investors holding units under the IDCW option of these schemes as of this date will be eligible for the declared payout.

Understanding the IDCW Option

The IDCW option allows mutual fund investors to receive a portion of the income generated by the fund. The payout varies based on the scheme and the investor’s chosen category, i.e., direct or regular.

This announcement provides eligible investors with an opportunity to benefit from the income distribution across various Axis Mutual Fund schemes. Investors should ensure they check their holdings and eligibility before the record date to avoid missing out on this distribution.

Ensure steady returns with systematic withdrawals! Estimate your withdrawals with our SWP Calculator and manage your finances seamlessly.

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

Torres Jewellery Scam: A Multi-Crore Fraud Unveiled

A massive financial scandal has emerged in Mumbai, surrounding the Torres Jewellery chain. The company has been accused of defrauding nearly 4,000 investors, with the fraud now believed to potentially exceed hundreds of crores of rupees. Investigations are ongoing, with the Economic Offence Wing of Mumbai Police handling the case.

The Promises and Deception Behind Torres Jewellery’s Fraudulent Scheme

Launched in February 2024, Torres Jewellery attracted investors with promises of high returns, offering weekly interest rates ranging from 6% to 20%. The company also presented rewards such as flats in the Mumbai Metropolitan Region, luxury cars, iPhones, and precious gems. 

 

However, these rewards were part of a larger multi-level marketing (MLM) structure, which was interwoven with Ponzi-like operations, urging participants to recruit new investors. By the end of 2024, the scheme collapsed, with investors ceasing to receive their promised returns. It was also revealed that the gems provided as rewards were fake.

Investigation and Arrests: Key Individuals in Custody

The police investigation has led to the arrest of three key figures: Sarvesh Surve, a director of Platinum Hern (Torres’ parent company), Valentina Kumar, a regional manager of Russian origin, and Tania Kasatova, an Uzbek national overseeing the stores. These individuals face serious charges under the Maharashtra Protection of Interest of Depositors (MPID) Act. 

 

A lookout notice has been issued for 11 additional suspects, including Viktoriia Kovalenko, a Ukrainian national and another director of Platinum Hern. Investigators suspect the fraudsters intended to expand their operations to Sri Lanka and Nepal. Furthermore, the Enforcement Directorate (ED) has launched a probe into possible money laundering activities involving the defrauded funds.

Conclusion

The Torres Jewellery scam has led to widespread financial loss, particularly among lower-middle and lower-income groups, with estimates suggesting that the fraud could extend into hundreds of crores. Investigations continue, and authorities are working to identify more victims and perpetrators involved in this elaborate scheme.

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.

Why Sugar Stocks Buzzing on January 16?

On January 16, shares of several sugar companies experienced significant gains. This rally was attributed to news reports indicating that the Union Cabinet is likely to approve an increase in ethanol prices. With ethanol being a critical byproduct of sugar production, this anticipated price hike brought optimism to the sugar industry.

Ethanol Price Hike: As Per Reports

The proposed price adjustments for ethanol, as per reports, include:

  • B-heavy molasses ethanol: An increase of ₹1.82 per litre.
  • C-heavy molasses ethanol: A significant hike of ₹6.87 per litre, raising the price from ₹49.41 to ₹56.28 per litre.

This move is expected to incentivise ethanol production, bolstering profitability for sugar manufacturers who rely on ethanol as a key revenue driver.

Market Reaction: Sugar Stocks Rally

As the news spread, sugar stocks showed a marked uptick:

Government’s Ethanol Blending Push

The anticipated price hike aligns with the government’s broader goal of achieving 20% ethanol blending in petrol by FY26. Currently, ethanol blending stands at 15.83%, and Union Minister Nitin Gadkari recently announced that the 20% target could be reached within the next two months.

The benefits of E20 (petrol with 20% ethanol) include:

  • Pollution Reduction: A 50% reduction in carbon monoxide emissions in two-wheelers and 30% in four-wheelers compared to neat petrol (E0).
  • Reduced Oil Dependence: With 85% of India’s oil needs met through imports, ethanol blending reduces the reliance on overseas shipments.

Role of Automakers and Bio-Ethanol Vehicles

Indian automakers such as Tata Motors, Mahindra & Mahindra, Maruti Suzuki, and Hyundai have started producing vehicles capable of running on 100% bio-ethanol. This development supports the government’s push for renewable energy and complements the sugar industry’s ethanol production efforts.

The Bigger Picture: Achieving Energy Goals

India achieved its average 10% ethanol blending target in June 2022, ahead of the original November 2022 deadline. The government’s focus on incentivising ethanol production from B-heavy and C-heavy molasses, as well as sugarcane juice, is expected to provide long-term benefits to the sugar industry while promoting sustainability and energy security.

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.

Onesource Industries & Venture Hits Upper Circuit, Reports Record Revenue Growth

Onesource Industries & Venture Limited, a key player in agricultural commodities trading, witnessed a remarkable surge in its share price, hitting the upper circuit on January 16, 2025. The stock is now trading close to its 52-week high, marking a 40% gain in the last 3 months. This significant price movement is largely attributed to the company’s robust financial performance in Q3FY25.

Record-Breaking Revenue Growth

In Q3FY25, the company reported a staggering revenue of ₹3,246.65 lakhs, a significant increase from ₹429.75 lakhs in the same period the previous year. This marks an impressive growth trajectory, reflecting the company’s effective strategies and strong demand for its products.

Net profit also demonstrated robust growth, rising from ₹19.55 lakhs in Q3FY24 to ₹57.30 lakhs in Q3FY25. 

Company Overview

Onesource Industries & Venture specialises in trading agricultural commodities, including fruits, vegetables, seeds, cereals, pulses, edible oil, oil seeds, spices, and organic products. The company also manages the processing, stocking, and distribution of these products. In addition to promoting its own brand, it facilitates farmer-produced goods and supplies agricultural inputs such as pesticides, insecticides, fungicides, and agricultural chemicals.

Their comprehensive approach extends to setting up processing units and trading in both perishable and non-perishable agri-commodities. With an emphasis on innovation, the company also deals in herbal and pharmaceutical chemicals, showcasing its versatility in related industries.

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.

Nazara Technologies Arm to Develop Bigg Boss Mobile Game

Nazara Technologies announced that its UK-based subsidiary, Fusebox Games, will collaborate with Banijay Rights to develop and launch the Bigg Boss Interactive Fiction Game. This partnership aims to bring the popular Indian reality TV show into the interactive gaming world, with the game slated for release in 2025.

The game will allow players to create avatars, step into the Bigg Boss house, and navigate branching storylines inspired by the show itself. It will also feature live in-game events synchronized with the TV series and localized narratives in Hindi and regional Indian languages, catering to India’s diverse audience.

Fusebox Games’ and Nazara’s Acquisition

Fusebox Games is known for developing intellectual property (IP) driven interactive story games, including popular titles such as Love Island and Love Villa. Nazara Technologies acquired Fusebox in August 2024 for ₹228 crore ($27.2 million) to strengthen its gaming portfolio. The company’s focus on adapting well-known TV formats into interactive experiences has positioned Fusebox as an interesting player to watch in this niche.

Expansion with Big Brother Game

In addition to the Bigg Boss game, Fusebox Games is simultaneously working on a similar project based on the Dutch reality show Big Brother. This globally recognized format, first launched in 1999, has aired over 600 series in 70 markets and remains a property for Banijay Entertainment. The Big Brother Interactive Fiction Game is also scheduled for release in 2025.

Market Impact

The announcement positively impacted Nazara Technologies’ stock, which rose by 4% in intraday trading to ₹938 on January 15, 2025. By 1:37 PM on January 16, the stock further climbed 5.04% to ₹980.10, showing continued rise. Despite gaining 45% over the past nine months, the stock remains 44.5% below its all-time high of ₹1,678 recorded in October 2021.

Banijay’s Role and Market Prospects

Banijay Entertainment’s Endemol Shine India, the producer of Bigg Boss, will collaborate closely with Fusebox Games to develop the interactive fiction game. Mark Woollard, SVP of Gaming & Gambling at Banijay Rights, talked about how this partnership creates immersive opportunities for fans to engage with globally celebrated TV formats like Bigg Boss and Big Brother.

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