From SBI MF's bet on alternatives, to RIL's next growth phase, Adani stocks, and more: Our top-read stories of the week

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SBI MF: Betting big on alternatives
SBI MF is on top with average assets under management (AAUM) of around Rs8 lakh crore from an industry total of Rs46 lakh crore, i.e. AUM market share of just under 18 percent. SBI MF has been able to occupy a leadership position thanks to the parentage, managing EPFO money and adoption of technology. But if you exclude the EFPO money, private MFs such as ICICI Prudential AMC and HDFC AMC would be serious competitors. Alternative Investment Funds (AIFs) have emerged as one of the new investment assets to invest into—besides Portfolio Management Services (PMS)—for sophisticated, high-income investors. It is no surprise then that SBI MF has planned AIFs as its next target for strategic growth. Now, it needs to set the rules as a leader leapfrogging to the next level. Read more


What’s up with Adani stocks, again?
In a fresh blow to the Adani group, a global network of investigative journalists alleged that the conglomerate was involved in manipulating share prices of its companies from 2013 to 2018. These revelations come nearly 6 months after Hindenburg had raised questions on the Gautam Adani-led group of companies, their financial health and disclosures. On Thursday, investors rushed again to sell its shares, wiping off around Rs32,740 crore of wealth on a single day. Shares of Adani Enterprises, Adani Ports and SEZ, Adani Power, Adani Energy Solutions, Adani Total Gas and Adani Wilmar lost around 2-4 percent on the BSE, at closing. However, Adani group of companies have denied the report calling it ‘recycled allegations’. Here’s what you need to know


India’s Tier-2 cities = global innovation hubs?           
India's digital tech workforce is making it a destination for the next wave of foreign companies looking to establish centres for R&D, software development and engineering. And there is an opportunity to expand the ecosystem to tier-2 cities, Nasscom, the country's biggest tech lobby, and accounting consultancy firm Deloitte, say in a new report. The report identifies 26 cities that are emerging hubs and can grow to become deeply integrated with the tech innovation ecosystem in the country. We decode the crucial report in this episode of One Thing Today in Tech. Read more

Smartworks works smart
Smartworks is India’s biggest managed office space provider. Started as a co-working startup in Delhi-NCR, Smartworks has had a sedate growth in the formative years, pivoted to a managed office space provider in 2019, and closed the next fiscal with a heady operating revenue of Rs 257.6 crore. But the Covid-19 pandemic made the entrepreneurs worry. However, a timely pivot, sticky enterprises, waning pandemic and a more-than-strong resurgence in demand for office space have helped Smartworks post a heady growth. Can it keep up the furious pace? Read more

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What’s holding back the rural economy?
India is trying to revive its rural markets. Despite a recent uptick in demand, the signs of stress in India’s hinterlands are hard to rub off. Rural spending fell to 2.8 percent in the previous quarter. While most corporate honchos expect demand to pick up ahead of the festive season, some caution that there are no visible green shoots of a meaningful recovery in rural markets yet. Care Ratings warns that the rising cost of living led by high food inflation underlines the stress in rural demand. It also highlights that the risks to farm income remains high as uneven distribution of monsoon could affect sowing and lower crop yields. The overarching hope is that the government’s ambitious capex plan will bring in private investments which in turn will create a multiplier effect to boost demand for jobs and consumption. Read more

What is RIL’s next phase?
At the Reliance Industries AGM, the Ambani family made a slew of announcements, including that Mukesh Ambani's children, Isha, Akash and Anant, would be appointed to the board of directors. JioAir Fibre will launch on September 19, and the company promised access to artificial intelligence to everyone, everywhere. Listen on to hear where Forbes India's Samar Srivastava and Nasrin Sultana, who join us on To The Point today, think the most exciting next phase of growth will come from. Read more

Nitin Gadkari on Pathbreakers 2
We’re gearing up to launch the second season of Pathbreaks! Our first guest is known to have driven the highway revolution at a time when the country's road infrastructure was in shambles. There were stalled projects to the tune of Rs 3.5 lakh crore. Poor road connectivity was also a hindrance for foreign investments. Nitin Gadkari, Minister of Road Transport and Highways of India, transformed the situation with strategies to attract private players. Over the years, Gadkari also championed the use of green energy for sustainable development, and in a wide-ranging conversation with Neha Bothra, he will talk about what it will take to put India on the fast lane. Join in on Wednesday. Watch here