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​Kotak Institutional Equities (KIE) has added Aavas Financiers, KIMS and Sun TV Network to its model midcap portfolio while removing Max Healthcare.​

​Second is that it gives you flexibility to select your asset allocation. Now just think of it that without any tax implication, you can shift your asset allocation between equity, fixed income like within that corporate bond, government bond, and also there are now options for alternative investments or AIFs. So that ensures a good mix of asset classes also in your long term wealth accumulation.

In tier-1 there is no taxability. It falls under technically speaking EEE, exempt, exempt, exempt criteria so even the time when we are investing the money we get a tax benefit, that is a unique thing which NPS offers over and above the regular investments of 150000.

Indian equity indices closed lower for the second consecutive day due to investors booking profits. Bharti Airtel, Kotak Mahindra Bank, and ICICI Bank were among the top laggards, while Bajaj Auto, Asian Paints, and Tata Motors ended with gains.

Gold loan non-banking finance company Indel Money has announced its third tranche of public issue of Secured NCDs with the face value of Rs 1,000 each. The issue opens on June 6 and closes on June 19, with an option of early closure if oversubscribed. Proceeds from the issue will be used for onward lending and financing. The company has grown its assets under management by 72% to Rs 1,154 crore in FY23 and is targeting Rs 2,100 crore AUM in the current fiscal. Indel Money operates across eight states, with plans to expand to 15 states by FY25.

Indian regulator, Securities and Exchange Board of India (SEBI), has extended consultation on proposals aimed at proposing sweeping changes to the expense ratio of mutual funds in the country. The regulator is aiming to prevent distributors from pushing new fund offerings for higher commissions. The regulator has proposed that the total expense ratio (TER) charged by asset management companies should be levied at the AMC level and not at the scheme level currently, while also introducing performance fees for funds. SEBI has suggested the maximum TER for an equity scheme is 2.55% at the AMC level.

Sebi has extended the deadline for public comments regarding a proposal that seeks asset management companies (AMCs) to set up an institutional mechanism for the deterrence of possible market abuse and fraudulent transactions. AMCs should put in place surveillance systems and internal control procedures to deter possible misconduct by employees or other entities relating to fund management or investments of mutual fund schemes, the Securities and Exchange Board of India suggested.

While the Sensex closed at 62,428, down by 194 points or 0.31%, the broader market Nifty50 settled at 18,488, down by 47 points or 0.25%.

"I think with the larger size of the opportunities, the scale itself becomes much larger, much larger. So, today is actually probably the best time in the history of modern India that you should be out there investing because a $3 trillion economy will grow. You will simply add $150-200 billion in GDP every year, which used to be the GDP when I entered the market, just the scale is massive. Nothing is lost. It is not too late. Get in now."

On Wednesday, the government announced launching an OFS in Coal India as part of its disinvestment plan.