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India has seen massive FII inflows from March to till date July of almost US$ 19.2bn vs net outflow of US$ 3.4bn in Jan-Feb and outflow of US$ 18.4bn in CY22.

Asked about how the fund aims to generate alpha returns for its investors, Jitendra Sriram, a senior fund manager at the asset management firm, shared the “BMV” metric adopted by the company in its hybrid fund to achieve the same.

So basically, we need to enjoy the period of high prices right now, cognisant of the fact that there will be headwinds coming up.

The management has a constructive outlook across specialty chemicals and contract manufacturing segments. The global investment bank is bullish on the balanced business mix, resilient agrichem portfolio, new CDMO order wins, and upside levers to volumes and margins.

The BSE Sensex was trading 298 points or 0.45% lower at 66,161. Nifty50 was trading at 19,647, down 86 points or 0.44% at around 9.17 am.

Rating agency Fitch on Tuesday downgraded the United States to AA+ from AAA in a move that drew an angry response from the White House and surprised investors, coming despite the resolution two months ago of the debt ceiling crisis.

Asian stocks were also weighed by declines on Wall Street overnight. U.S. stock futures, the S&P 500 e-minis, pointed 0.2% lower on Wednesday. Fitch cut the United States by one notch to AA+ from AAA, citing fiscal deterioration, a decision announced after the Wall Street close on Tuesday.

Adani Total Gas has reported consolidated net profit of Rs 150 crore for the quarter ended June. Revenue from operations rose by a marginal 2% year-on-year to Rs 1,135 crore.

ICICI Prudential Life Insurance is seeing shifts in investment trends with a renewed demand for ULIPs and a growing demand for protection and annuity products after the recent tax changes affected high-value non-par products. New managing director Anup Bagchi tells Shilpy Sinha that with a solid balance sheet and prudent risk management, the company is sharpening its customer centricity in a crowded insurance market.

The sharp surge in unsecured lending has more observers highlighting risks and advising caution. After credit bureau TransUnion Cibil flagged concerns over the sharp rise in unsecured retail advances by banks and NBFCs, now rating firm India Ratings (Ind-Ra) has called for higher capital buffers and close monitoring of unsecured advances by non-bank lenders.