Morning Buzz: Sebi cuts listing time for IPOs from six days to three days; Air India group losses rise to Rs15,000 crore, and more
The new time frame will be voluntary from September 1 and will mean that capital will be available faster to issuers; losses at Air India group saw a 9 percent increase over FY22
Securities and Exchange Board of India (Sebi). Image: Shailesh Andrade / REUTERS
Mutual fund equity flow falls as investors book profit
Funds flowing into equity schemes fell by 12 percent last month to Rs7,626 crore. This was on account of investors booking profits on account of the recent run-up in prices. Large caps saw an outflow of Rs1,880 crore, while small caps saw an inflow of Rs4,171 crore. SIP inflows hit an all-time high of Rs15,245 crore. The SIP AUM also hit an all-time high of Rs8.32 lakh crore. Most fund houses have restricted inflows into small-cap schemes.(BusinessLine, Indian Express)
Government to release food stocks to curb inflation
Rice soared to the highest price in Asia since 2008 due to supply concerns. This also threatens India’s inflation, and the government announced the sale of 5 million tonnes of wheat and 2.5 million tonnes of rice. This is in addition to the 0.82 million tonnes already released. Currently, the government has a wheat stock of 27.99 million tonnes of wheat and 37.09 tonnes of rice. Retail inflation in the food basket rose to 4.49 percent in June against 2.96 percent in May. (Business Standard, Financial Express)
Air India group losses rise to Rs15,000 crore
Air India, Vistara, Air India Express and AIX Connect have reported a combined net loss of Rs15,170 crore, a 9 percent increase over FY22. At Air India, losses stood at Rs11,216 crore. Vistara’s losses stood at Rs1,393 crore. And AIX Connect had losses of Rs2,750 crore. Out of the four airlines, only Air India Express reported a profit of Rs116 crore compared to a loss of Rs72 crore. This was on account of its significant flights between India and the Gulf. (Financial Express)
Sebi cuts IPO listing time to three days
The Securities and Exchange Board of India (Sebi) has cut the listing time for IPOs from the current six days to three days. The new time frame will be voluntary from September 1 and mandatory from December 1. This move will mean that capital will be available faster to issuers, and investors will also be able to access their blocked funds earlier from the present six days to the new limit of three days.(Economic Times, Indian Express, Business Standard)
