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Almost all the categories in the equity segment witnessed positive inflows. Largecap schemes, which have struggled to generate alpha and beat the benchmark in the past year, saw muted inflows worth Rs 911 crore. According to a report by S&P Dow Jones Indices, in the year 2022, over 88% of Indian equity largecap equity mutual funds have underperformed the benchmarks.

ICICI Prudential’s PIPE PMS, which invests in companies primarily in the mid and small-cap segments, has been more or less consistent and given positive returns over the last 1 year. In March, it gave 2.23% returns, while its 1-year return is 10%.

Ace investor Mukul Mahavir Agrawal has added smallcap companies WPIL and De Nora India to his portfolio during the March quarter, according to data from the BSE. Agrawal holds a 1.16% stake in WPIL and 1.37% stake in De Nora India. He publicly holds 57 stocks with a net worth of over INR 2,762.7 crore, including Capacite Infraprojects and TAAL Enterprises.

From the Sensex pack, IndusInd Bank, Power Grid Corp, Axis Bank, Kotak Bank and Bajaj Finserv were the top gainers, rising 1-3% each. SBI, Asian Paints, ICICI Bank and Bajaj Finance also closed with gains. However, Infosys, Tech Mahindra, HCL Tech, TCS and NTPC ended the session with cuts.

For FY24, the company has guided for sales to grow by a mere 4-7% in constant currency terms, which highlights the challenges it oversees for business in the current year. Operating margin is expected to be in the range of 20-22%.

The interim dividend will be paid to the shareholders of the company whose names appear on the register of members of the company or in the records of the depositories as beneficial owners of the shares as on record date.

TCS Q4 Results: Both the top and bottomline figures were below Street estimates. At a board meeting, TCS also announced a final dividend of Rs 24 per share.

As per data available on BSE, Central Government holds a 45.8% stake in IDBI Bank, while the state-owned Life Insurance Corporation of India holds a 49.24% stake in the Bank as of December 2022.The RBI is also conducting a "fit and proper evaluation", including extensive background and financial checks on the potential buyers, a crucial step before an investor is allowed to pick up a stake in a local bank, the people added

“Hybrid funds, equity savings funds which have 30-40% in equity, will be the flavour. Dynamic bond funds will at least have 35-40%. Industry will grab their pound of flesh from the debt allocations by mixing both the assets, rather than keeping debt capital. . In terms of risk mitigation, we use structured products to bring down the risk of portfolios, rather than plain vanilla debt, which brings down the risk, but equally brings down the return.”

Due to softness in near term demand, IT may not witness great traction in the next two quarters, and the earnings cut is expected to continue along with EPS cuts in most of the IT stocks. However, IT companies are expected to become good bargain buys after one to three quarters, as they are cash rich with high operating yields. Until then, banking is expected to outperform IT in the near term, as there is earnings traction and deposits in banks are growing.