Latest news with #CanaraRobeco
Mint
10-05-2025
- Business
- Mint
Stock market this week: Top gainers and losers—unexpected surges and surprising slumps
India's Goods and Services Tax (GST) collections saw a significant rise in April, reaching ₹ 2.37 lakh crore—a 12.6% increase compared to the same month last year. This marks a new milestone in the country's economic recovery and reflects growing business activity across sectors. The surge in collections isn't just a number—it represents higher consumption, improved compliance, and a broader tax base. For small businesses and large enterprises alike, it signals a more robust and organized economy. The government attributes this uptick to better technology-driven tracking and stronger anti-evasion measures, helping curb tax leakages. April's figures, often the highest due to year-end transactions, set a strong tone for the fiscal year ahead. For everyday citizens, this can translate into better public services and infrastructure, as higher revenues give the government more fiscal room. Ather Energy made its stock market debut with a modest yet positive start, listing at a 2% premium over its issue price of ₹ 321. Opening at around ₹ 327, the EV startup's listing signals a cautiously optimistic response from investors. The Bengaluru-based company, known for its smart electric scooters, has steadily built a strong brand, and its public listing marks a new chapter in its journey. For early backers and employees, the listing is both a milestone and a moment of validation. For retail investors, it's a sign that sustainable mobility is gaining traction in the mainstream market. Two prominent asset management companies—Baroda BNP Paribas AMC and Canara Robeco AMC—have launched new fund offerings (NFOs) aimed at tapping into evolving investor preferences. Baroda BNP Paribas has introduced the Income Plus Arbitrage Active Fund of Funds (FoF), designed to provide relatively stable returns by leveraging arbitrage opportunities along with active debt allocation. Meanwhile, Canara Robeco's new offering, the Multi Asset Allocation Fund, seeks to diversify investments across equities, debt, and gold, appealing to investors looking for a balanced and risk-mitigated approach. These launches come at a time when market participants are increasingly looking for smart, diversified investment strategies amid global uncertainty and domestic market volatility. The NFO for Baroda BNP Paribas's fund will close on 21st May 2025, while Canara Robeco's will conclude on 23rd May 2025. Index Returns Best Performers Worst Performers Bought and Sold Most Watchlisted Kuvera is a free direct mutual fund investing platform. Unless otherwise stated data sourced from BSE, NSE and kuvera.
Time of India
09-05-2025
- Business
- Time of India
Best tax saving mutual funds or ELSS to invest in May 2025
Tax -saving mutual funds or Equity Linked Savings Schemes (ELSSs) helps you to save income tax under Section 80C of the IT Act. You can invest a maximum of Rs 1.5 lakh in ELSSs and claim tax deductions on your investments every financial year. Are you interested? Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Best ELSS or tax saving mutual funds to invest in May 2025: Canara Robeco ELSS Tax Saver Fund Mirae Asset ELSS Tax Saver Fund Invesco India ELSS Tax Saver Fund DSP ELSS Tax Saver Fund Quant ELSS Tax Saver Fund (new addition) Bank of India ELSS Tax Saver (new addition) Tired of too many ads? Remove Ads Most taxpayers make their investments in the last three months of the financial year (January-March). Most of them look for the investment options available under Section 80C of the Income Tax Act (IT Act). The Section 80C of the Income Tax Act allows tax deduction of up to Rs 1.5 lakh in a financial year on investments in a few specified instruments. If you are trying to save taxes in this financial year, you can consider investing in tax-saving mutual funds or -saving mutual funds or Equity Linked Savings Schemes (ELSSs) helps you to save income tax under Section 80C of the IT Act. You can invest a maximum of Rs 1.5 lakh in ELSSs and claim tax deductions on your investments every financial year. Are you interested?Before proceeding further, you should familiarise yourself with ELSSs. Tax saving mutual funds or ELSSs invest in stocks. Therefore, they have a very high risk. You should be aware of this aspect, especially if you are a first-time investor in equity mutual funds. Compared to your usual investments like Public Provident Fund or National Savings Certificate, etc, ELSSs do not offer guaranteed returns. You may even suffer losses in a bad why should you invest in ELSSs? One, these schemes have the potential to offer higher returns over a long period. As you know, tax saving schemes invest in stocks. And stocks typically offer higher returns over a long period of time. For example, the ELSS category offered an average return of around 11.89% over 10 ELSS funds have the shortest lock-in period of three years among tax saving investments. Most other investment options under the 80C basket are government-backed investments. They typically come with longer lock-in periods. For example, PPF is a 15-year product that allows partial withdrawals after six years. The NSC is a five-year product. So, if you want access to your money in three years, you should invest in ELSSs. But don't count on it to offer you great returns in three years. You should always keep in mind that equity investing is for the long term. You should invest in equity mutual funds only if you have an investment horizon of five to seven the third and the most important point to remember is that ELSSs is an entry point for many investors into investing in stocks. Many investors often start with ELSSs and the mandatory lock-in period of three years in these schemes helps them to weather the volatility in the stock market. Once these investors see the rewards coming in, say, five or seven years, they start investing more money in equity you are interested in investing in these schemes, here are our recommended ELSSs you may consider investing in these schemes. Invesco India Tax Plan Fund has been in the third quartile for the last 10 months. The scheme had been in the fourth quartile earlier. Canara Robeco Equity Tax Saver Fund has been in the third quartile for the last nine months. The scheme had been in the fourth quartile earlier. Mirae Asset Tax Saver Fund was in the third quartile for 15 months. ETMutualFunds has employed the following parameters for shortlisting the equity mutual fund daily for the last three Exponent, H is used for computing the consistency of a fund. The H exponent is a measure of randomness of NAV series of a fund. Funds with high H tend to exhibit low volatility compared to funds with low H.i) When H = 0.5, the series of returns is said to be a geometric Brownian time series. This type of time series is difficult to When H is less than 0.5, the series is said to be mean When H is greater than 0.5, the series is said to be persistent. The larger the value of H, the stronger is the trend of the seriesWe have considered only the negative returns given by the mutual fund scheme for this measure.X =Returns below zeroY = Sum of all squares of XZ = Y/number of days taken for computing the ratioDownside risk = Square root of ZIt is measured by Jensen's Alpha for the last three years. Jensen's Alpha shows the risk-adjusted return generated by a mutual fund scheme relative to the expected market return predicted by the Capital Asset Pricing Model (CAPM). Higher Alpha indicates that the portfolio performance has outstripped the returns predicted by the returns generated by the MF Scheme = [Risk Free Rate + Beta of the MF Scheme * {(Average return of the index - Risk Free Rate}For Equity funds, the threshold asset size is Rs 50 crore
Mint
01-05-2025
- Business
- Mint
Is it wise to buy Canara Bank shares ahead of Canara Robeco IPO launch? EXPLAINED
Canara Robeco IPO: Canara Robeco Asset Management Company, the mutual fund arm of state-run lender Canara Bank, has filed draft papers for its initial public offering (IPO) with the capital markets regulator Securities & Exchange Board of India (SEBI). Canara Robeco IPO will be completely an offer for sale (OFS) of 4.98 crore equity shares by promoters with no fresh issue component, according to the Draft Red Herring Prospectus (DRHP). Under the OFS, Canara Bank is set to divest 2.59 crore equity shares, while ORIX Corporation Europe N.V. (formerly known as Robeco Groep N.V.) plans to sell 2.39 crore shares. Canara Bank possesses a 51% interest in Canara Robeco Asset Management Company, whereas Orix Corporation controls the rest of the ownership in the AMC. Since the IPO is entirely an OFS, the company will not receive any funds from the public issue, and the proceeds will go to the selling shareholders. Canara Robeco IPO is estimated to be around ₹ 800-1,000 crore, according to media reports and talks on Dalal Street. As Canara Bank is selling around 52% of the OFS shares, the lender is estimated to receive approximately ₹ 500 crore from the public issue. Additionally, Canara HSBC Life Insurance Company has also filed a DRHP with SEBI for an IPO, which is again entirely an OFS. The OFS includes up to 13,77,50,000 shares by Canara Bank, up to 47.50 lakh shares by HSBC Insurance (Asia-Pacific) Holdings Limited, and up to 9.50 crore shares by Punjab National Bank. The IPO could be valued around ₹ 16,500 crore, with Canara Bank expected to raise approximately ₹ 2,200 crore from its stake sale, according to Vaibhav Vidwani, Research Analyst at Bonanza Group. Experts debate if investing in Canara Bank shares ahead of Canara Robeco IPO would be a tactical decision or not. Seema Srivastava, Senior Research Analyst at SMC Global Securities explained that investing in Canara Bank shares ahead of the Canara Robeco AMC IPO could be a strategic move, given the bank's stake sale in the AMC would lead to raising of significant capital which can be utilise to strengthen the lender's balance sheet. Canara Robeco IPO, being a 100% OFS, means the Canara Bank will receive the proceeds from the IPO, which will help strengthen its balance sheet and improving its capital adequacy ratio. 'This influx of capital can help Canara Bank expand its lending capacity, invest in growth initiatives, and reduce its dependence on external funding. With a stronger balance sheet, the bank can lower borrowing costs and enhance its overall financial stability,' Srivastava said. According to her, with its strong fundamentals and growth potential, investing in Canara Bank shares ahead of the Canara Robeco AMC IPO can be a good investment strategy for long-term investors. 'The bank's ability to drive growth initiatives and improve its financial health makes it an attractive investment opportunity. Overall, Canara Bank's stake sale in Canara Robeco AMC is likely to have a positive impact on its balance sheet and growth prospects, making it a good investment option for those looking to invest in the banking sector. By investing in Canara Bank shares, investors can benefit from the bank's strong market presence and growth potential,' added Srivastava. Meanwhile, Prashanth Tapse, Research Analyst, Senior Vice President of Research at Mehta Equities said that before considering if investing in Canara Bank shares ahead of Canara Robeco IPO is a wise investment strategy, investors should understand that Canara Bank is trying to monetise its investment in Canara Robeco AMC, and potentially projecting it as an unlocking value for shareholders. 'Given that the parent owns ~51% stake in the AMC business can influence the bank's valuation as a one-time benefit, which can also be discounted in the current price. More upside in the strategy could come depending on many factors like IPO market momentum, peer valuations and overall market sentiments. On the risk part, delay in IPO process due to regulatory approvals can reduce the strategy return expectations,' Tapse said. As of date, there are four AMC listed stocks for reference on valuations - HDFC AMC, Nippon Life India Asset Management, UTI AMC & Aditya Birla Sun Life AMC - trading in the range as high as 11.5x and as low as 3x, based on price-to-book (P/B) value comparison, he noted. 'Considering the AUM size of Canara Robeco AMC, which is approximately ₹ 1 lakh crore as of FY25, we can assume the IPO price should be in the valuation range of ~3-7x P/BV. However, it is too early to conclude this will be a wise investment strategy,' advised Tapse. On the technical charts, the trend for Canara Bank shares remains bullish. "Canara Bank witnessed a breakout from an Inverse Head and Shoulders pattern on 17th April 2025, supported by rising volumes—indicating a potential shift in trend. Post-breakout, the stock is currently experiencing a throwback move, which is a typical retest of the neckline. A bounce is anticipated from the neckline level, which also coincides with the 50 EMA, reinforcing the zone as a strong support area," said Kunal Kamble, Sr. Technical Research Analyst at Bonanza Group. "The stock is trading above the 50 EMA, a sign of a positive trend, and reflects continued bullish sentiment, he added. Meanwhile, the RSI had entered the overbought zone, triggering some profit booking," Kamble added. Despite the short-term pullback, the overall trend remains intact as long as the stock sustains above the ₹ 90 level, he opined. Disclaimer: The views and recommendations above are those of individual analysts, experts and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decision. First Published: 1 May 2025, 01:59 PM IST
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Business Standard
25-04-2025
- Business
- Business Standard
India's Canara Robeco Asset Management Company files paper for IPO
India's Canara Robeco Asset Management Company has filed for an initial public offering, draft papers showed on Friday, with its existing shareholders looking to sell stakes at a time when the IPO market is slowing. Canara Robeco is a joint venture between India's state-owned Canara Bank and Netherlands-headquartered ORIX Corporation Europe, which is a unit of Japan's ORIX Corporation. The firm, which manages more than 1 trillion rupees ($11.7 billion) in assets, will not issue fresh shares in the IPO, but the two owners will sell a combined 49.8 million shares. Canara Bank will reduce its stake in the asset manager by 13% by selling 25.92 million shares via the listing. ORIX will sell 23.93 million shares. The asset manager did not detail the size or timing of the IPO. The listing is set to come at a time when rising global market volatility, driven by U.S. tariff flip-flops, is forcing companies to recalibrate IPO ambitions to avoid weak demand or failed listings. India was the world's second-largest market by IPO proceeds in 2024 but listings are down close to 15% this year, data compiled by LSEG showed. Canara Robeco competes with other major asset managers such as HDFC Asset Management Company, Nippon Life India Asset Management and UTI Asset Management Company . Its profit for the fiscal year ended March 2024 was 91% higher than a year ago, the draft prospectus showed, while revenue from operations was 55.4% higher. In a country where physical assets still dominate financial savings, investments in mutual funds are on the rise, in tandem with greater financial awareness. Mutual funds, as a portion of household financial savings, grew from 2% to around 7% between fiscal years 2021 and 2024, with investment value more than doubling to 2.4 trillion rupees, the prospectus showed, citing data from India's central bank and Crisil Intelligence. (Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
Reuters
25-04-2025
- Business
- Reuters
India's Canara Robeco Asset Management files for IPO
April 25 (Reuters) - India's Canara Robeco Asset Management Company has filed for an initial public offering, draft papers showed on Friday, with its existing shareholders looking to sell stakes at a time when the IPO market is slowing. Canara Robeco is a joint venture between India's state-owned Canara Bank ( opens new tab and Netherlands-headquartered ORIX Corporation Europe, which is a unit of Japan's ORIX Corporation (8591.T), opens new tab. The firm, which manages more than 1 trillion rupees ($11.7 billion) in assets, will not issue fresh shares in the IPO, but the two owners will sell a combined 49.8 million shares. Canara Bank will reduce its stake in the asset manager by 13% by selling 25.92 million shares via the listing. ORIX will sell 23.93 million shares. The asset manager did not detail the size or timing of the IPO. The listing is set to come at a time when rising global market volatility, driven by U.S. tariff flip-flops, is forcing companies to recalibrate IPO ambitions to avoid weak demand or failed listings. India was the world's second-largest market by IPO proceeds in 2024 but listings are down close to 15% this year, data compiled by LSEG showed. Canara Robeco competes with other major asset managers such as HDFC Asset Management Company ( opens new tab, Nippon Life India Asset Management ( opens new tab and UTI Asset Management Company ( opens new tab. Its profit for the fiscal year ended March 2024 was 91% higher than a year ago, the draft prospectus showed, while revenue from operations was 55.4% higher. In a country where physical assets still dominate financial savings, investments in mutual funds are on the rise, in tandem with greater financial awareness. Mutual funds, as a portion of household financial savings, grew from 2% to around 7% between fiscal years 2021 and 2024, with investment value more than doubling to 2.4 trillion rupees, the prospectus showed, citing data from India's central bank and Crisil Intelligence. ($1 = 85.3680 Indian rupees)
