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Business Standard
28 minutes ago
- Business Standard
NFO alert! Mahindra Manulife launches BFSI focused fund; check details here
NFO Alert! Mahindra Manulife Mutual Fund, a joint venture between Mahindra & Mahindra Financial Services (Mahindra Finance) and Manulife Investment Management (Singapore), has announced the launch of the Mahindra Manulife Banking and Financial Services Fund. This open-ended equity scheme aims to provide long-term capital appreciation by investing predominantly in a portfolio of equity and equity-related securities of companies engaged in banking & financial services activities, according to the Scheme Information Document (SID). Mahindra Manulife Banking and Financial Services Fund's Krishna Sanghavi, CIO – equity, Mahindra Manulife Investment Management, said, "The fund aims to build a diversified portfolio that captures the full potential of the BFSI ecosystem from traditional leaders like banks and insurers to emerging players driving innovation in how India saves, borrows, invests, and transacts, with a disciplined focus on fundamentals and valuations.' Banking, he added, remains a strong pillar of India's financial landscape, but the opportunity extends much further. The fund will be managed by Vishal Jajoo and Chetan Sanjay Gindodia. The New Fund Offer (NFO), which opened today, will remain available till July 11, 2025. Mahindra Manulife Banking and Financial Services Fund will reopen for continuous sale and repurchase from July 21, 2025. Mahindra Manulife Banking and Financial Services Fund is offered at ₹10 per unit each during the NFO and continuous offer for units at NAV-based prices. During the NFO, the minimum application amount is ₹1,000 and in multiples of ₹1 thereafter. The minimum amount for switch-in is ₹1,000 and in multiples of ₹0.01 thereafter. The Mahindra Manulife Banking and Financial Services Fund is benchmarked against Nifty Financial Services TRI (First Tier Benchmark). The risk for the NFO as well as the benchmark remains very high, reads the SID. Who should invest in Mahindra Manulife Banking and Financial Services Fund NFO? According to the SID, Mahindra Manulife Banking and Financial Services Fund is suitable for long-term capital appreciation as well as for investment predominantly in a portfolio of equity and equity-related securities of companies engaged in banking & financial services activities. "Investors should consult their financial advisers if in doubt about whether the product is suitable for them," cautioned the SID.
India Today
an hour ago
- India Today
Kolkata doctor duped of Rs 36 lakh, report says he clicked on a Facebook advertisement
Investment-based scams are on the rise in India. A Kolkata-based doctor has reportedly become the latest victim of such a cyber scam, losing Rs 36 lakh. The victim was lured into a fake investment opportunity after clicking on an advertisement on Facebook. He was duped over a period of two months after being enticed by an investment scheme advertised on the to a report by The Telegraph, the doctor, who is a resident of Barasat, came across an advertisement on Facebook promoting what appeared to be a legitimate financial investment platform. Thinking he might receive some financial advice and earn extra money, he clicked on the ad. The ad redirected him to a WhatsApp group that posed as a forum for stock market guidance and financial tips. The doctor was later added to the group by its admins. In the group, he encountered persuasive messages from other members, which convinced him that the platform was genuine. The scammers also directly persuaded him, and he began investing his money in phases—making ten separate transactions that ultimately totalled Rs 36 lakh. It was only when the doctor attempted to withdraw his supposed returns and found himself locked out of the investment account. Realising he has been scammed, the doctor then approached the authorities and filed a this, the state CID reportedly launched an investigation. During the enquiry, officials arrested Prosenjit Ranjan Nath, a 34-year-old film producer and entrepreneur, from his apartment near Madurdaha, Anandapur. According to police, Nath is the key beneficiary of the syphoned funds. The investigation revealed that Rs 18 lakh of the stolen amount had been funnelled into a company operated by Nath, named The Local Brand Shop. While Nath is currently in custody, police are continuing to investigate the full extent of the scam and identify other individuals who may have been involved. Meanwhile, authorities have urged internet users to remain vigilant and not fall for misleading ads on social media. Paid advertisements on platforms like Facebook can be promoted by anyone willing to pay, making them a common tool for scammers to target unsuspecting to stay safe from online investment scams– Do not click on any advertisement unless you are certain about its authenticity. In particular, be wary of social media ads that promise high returns or quick profits.– Always cross-check the credentials of any investment platform via official government or regulatory websites such as SEBI.– Avoid joining investment-related groups on WhatsApp or Telegram unless they are officially recognised by trusted Never share sensitive banking or personal information through informal channels.– If you are interested in investment tips, consult certified financial professionals.- Ends
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Business Standard
an hour ago
- Business Standard
This pharma co's stock rose on launching iron supplement to treat anemia
Wanbury shares rose 2.4 per cent in trade on Friday, logging an intraday high at ₹282 per share on BSE. The stock climbed after the company launched iron supplement 'Wanbury C RED'. At 12:36 PM, Wanbury share price was trading 2.4 per cent higher at ₹282 per share on the BSE. In comparison, the BSE Sensex was up 0.24 per cent at 83,958.11. The company's market capitalisation stood at ₹924.13 crore. Its 52-week high was at ₹330 per share and 52-week low was at ₹151.1 per share. In one year, Wanbury shares have gained 77 per cent as compared to Sensex's rise of 6 per cent. Why were Wanbury shares rising? The buying interest on the pharma company's counter came after it launched 'Wanbury C RED', a Liposomal Iron formulation mainly designed to treat anemia. According to the filing, this novel formulation leverages liposomal technology, which ensures enhanced absorption, minimal metallic aftertaste, reduced risk of constipation, and no calcium chelation thus making it a safe and highly tolerable option for long-term use, especially in pregnant women and iron-deficient individuals. The product was recently launched in Northern India followed by Southern India. Wanbury aims to scale up distribution Pan-lndia in the first few months of the launch. "The strong debut of Wanbury C RED and the encouraging endorsement from clinicians/ doctors in the North and South zone give us the confidence to accelerate our nationwide expansion. With robust sales momentum, our Pan-India rollout is already in motion. We believe Wanbury C RED will play a significant role in reinforcing Wanbury's presence in key therapeutic areas while driving both reach and profitability in the domestic formulations market," said Mohan Rayana, director, Wanbury. About Wanbury The company has a strong presence in the Active Pharmaceutical Ingredient (API) global market and domestic branded Formulation with its API being exported to over 50 countries. The API product portfolio includes: Metformin, Sertraline, Tramadol, Diphenhydramine, Mefenamic acid, Paroxetine, Ketamine Hydrochloride, and various other products in the pipeline. The company's clients include some of the leading global generic players. In formulations, the company has a wide presence across major therapeutic categories like cough and cold solutions, gynecology, orthopaedics, nutraceuticals, gastrointestinal, anti-inflammatory, and analgesics.
