Business & Economy – The Business Day https://english.thebusinessday.in Latest news on business, economy, startups Tue, 19 Aug 2025 05:19:35 +0000 en-US hourly 1 https://wordpress.org/?v=5.4.19 https://english.thebusinessday.in/wp-content/uploads/2020/07/cropped-business-day-new-3-32x32.png Business & Economy – The Business Day https://english.thebusinessday.in 32 32 180775421 Bestination Holidays opens new office; launches 7 new tour packages https://english.thebusinessday.in/2025/08/19/bestination-holidays-opens-new-office-launches-7-new-tour-packages/ https://english.thebusinessday.in/2025/08/19/bestination-holidays-opens-new-office-launches-7-new-tour-packages/#respond Tue, 19 Aug 2025 05:19:34 +0000 https://english.thebusinessday.in/?p=1729 Kochi-based leading outbound tour operating company Bestination Holidays has opened a new office on South Janatha Road, Palarivattom. The new office, spread over 3800 sq ft, at Aikkaraparambil Building, was inaugurated by film star, ad filmmaker and Bestination Holidays brand ambassador Sijoy Varghese. To mark the inauguration, three international and four domestic tour packages with attractive offers were introduced by founder and CEO Jeena Fernandez and Shaibin Mathew Varghese.


The global tour packages announced with offers are 13-day Iceland-Lapland, Sommaroy Island, 14-day New Zealand, Trans Alpine, 10-day South American Carnival, and Amazon Rainforest Expedition. In the domestic circuit, 4-day Ajanta Ellora, 7-day Gujarat, 8-day Bhutan, and 8-day Rajasthan packages have also been announced. The company, which has conducted tour packages to 6 continents in the first 2 years of its operation, also has customized premium packages to USA, Scandinavia, Japan, Australia, Europe, China-Hong Kong-Macau, Russia, South Africa, and Almaty-Bishkek, said Jeena Fernandez. Bestination’s tour to the seventh continent will be announced soon.


With a quarter of a century of experience in the outbound tourism industry, Jeena Fernandez has visited 78 countries so far. Jeena Fernandez added that her personal passion for travel was the impetus for starting Bestination Holidays. Shaibin Mathew Varghese said that the company will ensure personalized service that aims for the complete satisfaction of those who choose Bestination’s travel packages.

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Reliance Retail Launches Puraveda on Tira, Marks Entry into Ayurvedic Beauty https://english.thebusinessday.in/2025/07/31/reliance-retail-launches-puraveda-on-tira-marks-entry-into-ayurvedic-beauty/ https://english.thebusinessday.in/2025/07/31/reliance-retail-launches-puraveda-on-tira-marks-entry-into-ayurvedic-beauty/#respond Thu, 31 Jul 2025 05:31:04 +0000 https://english.thebusinessday.in/?p=1721 Tira, Reliance Retail’s omni-channel beauty destination, unveils Puraveda, a progressive Ayurveda brand that marks a significant addition to its growing Own Brands portfolio. Marrying ancient Indian wisdom with the precision of modern science, Puraveda offers a fresh, transformative take on holistic beauty and wellness. Puraveda’s launch marks a significant step in Tira’s mission to bring intentional, meaningful beauty experiences to today’s conscious consumer.

Bhakti Modi, Co-founder & CEO of Tira, commented on the launch, “We are thrilled to introduce Puraveda, a brand that embodies the powerful harmony of India’s timeless wellness heritage and the precision of modern innovation. At Tira, we aim to redefine beauty by bringing forward brands that go beyond aesthetics to inspire deeper connections with self-care. With Puraveda, we invite consumers to embrace Ayurveda through thoughtfully formulated products that make holistic beauty truly accessible.”

The brand’s carefully curated portfolio is rooted in tradition yet future-forward in formulation. It spans skincare, haircare, and body care—crafted to elevate everyday rituals through cruelty-free, high-performance products.

The brand launches with a debut collection featuring over 50 products across four distinct, ingredient-led ranges: 

  • Dhara delivers deep nourishment, powered by Chandan, D-Panthenol, and Lavender
  • Niyama encourages mindful rituals with Kumkumadi, Squalane, and Vetiver
  • Sama fosters harmony and calm, featuring Gulaab, Tocopherol, and Hibiscus
  • Urja energises and revitalises with Mulethi, BHA, and Mogra

Each range is anchored in a signature synergy of Ayurvedic hero ingredients and clinically proven actives, delivering sensorial beauty experiences that are as indulgent as they are effective — a true celebration of balance, vitality, and well-being.

As Tira brings Ayurveda into the spotlight with Puraveda, it reaffirms its vision of beauty that’s as conscious as it is contemporary.

The Puraveda collection will be available across Tira stores and on https://www.tirabeauty.com/brand/puraveda

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Coromandel International and Saudi Mining Company Ma’aden Sign MoU to Partner for Phosphatic Fertilisers https://english.thebusinessday.in/2025/04/10/coromandel-international-and-saudi-mining-company-maaden-sign-mou-to-partner-for-phosphatic-fertilisers/ https://english.thebusinessday.in/2025/04/10/coromandel-international-and-saudi-mining-company-maaden-sign-mou-to-partner-for-phosphatic-fertilisers/#respond Thu, 10 Apr 2025 07:31:44 +0000 https://english.thebusinessday.in/?p=1687 Coromandel International Limited, India’s leading agri-solutions provider, and Ma’aden, one of the world’s largest producers of phosphate fertilisers, have further strengthened their longstanding partnership by signing a Memorandum of Understanding (MoU) for the long-term supply of Di-Ammonium Phosphate (DAP) and NP/NPK fertilisers.

The MoU was signed on April 9, 2025, by Mr. Narayanan Vellayan, Director – Strategic Sourcing, Coromandel International Limited, and Mr. Saud Al Tamimi, Director – Fertiliser Sales Commercial, Phosphate Business Unit, Ma’aden.

Over the years Coromandel and Ma’aden have fostered a long-standing partnership, with Ma’aden playing a vital role as a trusted supplier of ammonia to Coromandel. The new agreement marks a significant milestone in expanding this collaboration, ensuring a reliable and sustainable supply of essential fertilisers to support Indian agriculture.

Speaking on the occasion, Mr. Narayanan Vellayan, Director – Strategic Sourcing, Coromandel International Limited, highlighted the importance of this agreement, stating,
“In recent times, DAP availability in India has been impacted due to global supply disruptions. This strategic partnership with Ma’aden is a natural extension of our longstanding relationship and will help Coromandel ensure timely availability of DAP and complex fertilisers to the Indian farming community. Coromandel, with its close connect to over 4.5 million farmers, remains steadfast in its commitment to Indian agriculture, working alongside Ma’aden as a trusted and sustainable partner.”

Echoing similar sentiments, Mr. Saud Al Tamimi, Director – Fertiliser Sales Commercial, Phosphate Business Unit, Ma’aden, reaffirmed Ma’aden’s commitment to India, saying,
“Ma’aden has been the largest supplier of phosphate fertilisers to India for over a decade. We are expanding our production capacity from 6 million tonnes to 9 million tonnes in the near term, reinforcing our commitment to serve the growing needs of India’s agriculture sector.”

The signing ceremony was presided over by Mr. S. Sankarasubramanian, Managing Director & Chief Executive Officer, Coromandel International Limited, and Mr. Anas Al Bassam, Senior Vice President – Commercial, Phosphate Business Unit, Ma’aden.

Both leaders underscored the need to expand the partnership beyond phosphates and raw materials, focusing on collaborative efforts in R&D, innovation, and speciality products to advance sustainable farming practices.

Senior officials from both Coromandel International and Ma’aden participated in the ceremony, reinforcing the strong commitment of both companies to strengthen their strategic partnership and contribute to the food security of India.

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Startup Genome report on Kerala’s ecosystem fully based on independent research: KSUM https://english.thebusinessday.in/2025/03/06/startup-genome-report-on-keralas-ecosystem-fully-based-on-independent-research-ksum/ https://english.thebusinessday.in/2025/03/06/startup-genome-report-on-keralas-ecosystem-fully-based-on-independent-research-ksum/#respond Thu, 06 Mar 2025 09:57:30 +0000 https://english.thebusinessday.in/?p=1684 Kerala Startup Mission (KSUM) today clarified that the report highlighting the phenomenal growth of the state’s startup ecosystem published by global innovation ecosystem development organization Startup Genome was the result of independent and unbiased research by them.

Startup Genome is an organization having worked with more than 160 economic and innovation ministries and public/private agencies in over 55 countries. Its reports enjoy irrefutable credibility and acceptability as Startup Genome is reputed as totally independent organization that does not give in to any external influence or bias.

Its reports are monitored closely by innovation ecosystems the world over for understanding the good practices of governments, innovation agencies and startup clusters, and formulate development strategies in the light of the insights provided by them.

Kerala has been a member of since 2021 and has given USD 48,000 as membership fee so far over a period of four years. Apart from Kerala, states like Tamil Nadu, Karnataka and Telangana are also members.

What makes the Startup Genome reports different isthe high credibility it enjoys the world over. Its reports are drawn upand published on the basis of primary and secondary level research and data analysis.

The Startup Genome report regarding Kerala has found that state’s startup ecosystem recorded a phenomenal growth of 254 per cent in value terms in the second half ( H2) of 2021-23 compared to H2 2019-2021. The report also found that Kerala stood fourth for availability of Affordable Talent in Asia.

The credibility of Startup Genome report on Kerala remains unassailable when it is read in conjunction with the coveted achievements made by the ecosystem. Kerala was rated as a top performer by the Centre’s ranking in 2018, 2019 and 2020. In 2022, Kerala emerged as the Best Performer State along with Tamil Nadu and Karnataka in the Startup Ranking Framework of the central government

The number of registered startups have also grown impressively during this period. In 2019, 594 startups were newly registered in Kerala, which steadily went up to 669 in 2020, 899 in 2021, 1,069 in 2022, 1,294 in 2023 and 1,128 in 2024 as per government of India’s statistics.

As per the Government of India’s official data, the total number of startups in Kerala now stands at 6,304. As per the KSUM data, the startups in the state received funding to the tune of Rs 826 crore during 2019-20. This steeply increased to Rs 3,880 crore during 2021-22, marking a phenomenal growth of 369 per cent.

These facts clearly show that the growth story of Kerala’s startup ecosystem is not a hyped one, going by any of the parameters.

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RCPL Unveils ‘Spinner’ – The Game-Changing Sports Drink for Every Indian https://english.thebusinessday.in/2025/02/11/rcpl-unveils-spinner-the-game-changing-sports-drink-for-every-indian/ https://english.thebusinessday.in/2025/02/11/rcpl-unveils-spinner-the-game-changing-sports-drink-for-every-indian/#respond Tue, 11 Feb 2025 07:53:59 +0000 https://english.thebusinessday.in/?p=1666 Reliance Consumer Products Limited (RCPL) today announced the launch of its new, game-changing sports drink, Spinner, co-created with the legendary cricket icon, Muttiah Muralitharan. Spinner is set to revolutionize hydration with its affordable price point and refreshing flavours, making it the first-ever sports drink available at an honest price of just Rs 10. Uniquely positioned Spinner will lead the movement in creating a sports beverage category of up to USD 1 Billion in the next 3 years.

Spinner is backed by its powerful partnership with top IPL teams, including Lucknow Super Giants, SunRisers Hyderabad, Punjab Kings, Gujarat Titans and Mumbai Indians who will collaborate with RCPL to drive awareness and increase brand visibility nationwide.

Muttiah Muralitharan, the cricketing legend and co-creator of Spinner, said, “I am thrilled to be a part of this exciting venture with Reliance Consumer Products. As an athlete, I know how important hydration is, especially when you’re on the move or playing a sport. Spinner is a game-changer that will empower every Indian to stay hydrated and active, no matter where they are or what they’re doing.”

Ketan Mody, COO, Reliance Consumer Products Limited, added, “At Reliance, we believe that every Indian deserves access to quality products that elevate their everyday lives. With Spinner, we’ve created an affordable and effective hydration solution that can be enjoyed by everyone, whether you’re a professional athlete or just someone looking to stay hydrated. As a total beverage and FMCG company, we are excited to bring this innovative product to the market, in partnership with cricketing legend Muttiah Muralitharan and IPL teams, as we continue our mission to make hydration accessible to all.”

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Made in India – A Titan Story to premier on Amazon MX Player in 2025 https://english.thebusinessday.in/2025/02/04/made-in-india-a-titan-story-to-premier-on-amazon-mx-player-in-2025/ https://english.thebusinessday.in/2025/02/04/made-in-india-a-titan-story-to-premier-on-amazon-mx-player-in-2025/#respond Tue, 04 Feb 2025 09:58:17 +0000 https://english.thebusinessday.in/?p=1652 Titan Company Ltd., a leading retail conglomerate, is thrilled to announce the upcoming premiere of ‘Made in India – A Titan Story,’ a six-part series that delves into the brand’s extraordinary journey from its inception to becoming a symbol of Indian innovation and excellence. The series will premier exclusively on Amazon MX Player in 2025. This compelling series chronicles Titan’s remarkable journey from its inception to becoming one of India’s most iconic consumer brands.

Produced by Almighty Motion Picture and T-Series Films, the series is directed by Robbie Grewal and written by Karan Vyas. The stellar cast features renowned actors Naseeruddin Shah and Jim Sarbh, bringing depth and authenticity to this inspiring story. Adapted from Vinay Kamath’s acclaimed book, TITAN: Inside India’s Most Successful Consumer Brand, the series offers an intimate portrayal of Titan’s evolution. Through the visionary leadership of its first CEO, Xerxes Desai, and the embodiment of JRD Tata’s philosophy, the series highlights, how Titan navigated early challenges to achieve entrepreneurial success. The narrative captures pivotal moments, including the creation of the world’s slimmest watch, highlighting Titan’s commitment to innovation and excellence.

C.K. Venkataraman, Managing Director, Titan Company Ltd., expressed his enthusiasm, “Titan’s journey is a testament to the spirit of Indian entrepreneurship and the passion of everyone involved in building a brand that resonates with millions. We are excited to share our story with the world through this compelling series.”

Prabhleen Sandhu, Founder, Almighty Motion Pictures, the producer of the series, shared her sentiments, “It’s an honour to get an opportunity to tell such an important chapter of history. Titan’s story is one of perseverance and innovation, and we are proud to bring it to the screen.”

Bhushan Kumar, Founder, T-Series Films, also the producer of the series, added “We are honoured to present this prestigious project—#ATitanStory,—an extraordinary narrative that brings to light one of India’s most treasured stories, one that truly deserves to be told in this era.”

Amogh Dusad, Head, Content – Amazon MX Player, said, “We are excited to bring our vision to life with this compelling story featuring talented cast. The story around the journey of Titan brand building is inspiring and would be a treat for the Amazon MX Player customers to watch and appreciate. We begin filming this soon and it’s a special project for all of us.”

Each episode will unveil the essence of Indian entrepreneurship and its pivotal role in shaping the nation’s spirit of innovation. The show will be premiering exclusively on Amazon MX Player in 2025.

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Aishwarya Subramanian – How this young woman designs her life as a Production Designer https://english.thebusinessday.in/2023/05/09/aishwarya-subramanian-how-this-young-woman-designs-her-life-as-a-production-designer/ https://english.thebusinessday.in/2023/05/09/aishwarya-subramanian-how-this-young-woman-designs-her-life-as-a-production-designer/#respond Tue, 09 May 2023 07:31:44 +0000 https://english.thebusinessday.in/?p=1590 ‘Lights, Camera, Action’ are the three words we are all familiar with. Behind these three words there is a whole team of professionals, who are easily unseen. They act as an invisible force to help put together a film from start to end.

Aishwarya Subramanian, hailing from Delhi, is now an upcoming production designer associated with a handful of projects including short films, music videos and indie feature films in various roles. Aishwarya has completed her Master’s In Production Design from the prestigious Savannah College of Art and Design, Savannah, Georgia, USA in the year 2022. Before that, she did her Bachelor’s In Design (Interior Design) from Manipal University, Manipal. She finished her high school at International School of Kuala Lumpur, Kuala Lumpur, Malaysia.

Aishwarya is finding a place of her own in a largely male-dominated field. Apart from her unfailing passion for designing and art, she is equipped with the rich experience of having lived through various different cultures. However, she believes it is her upbringing in Indian community that laid a strong foundation for her interest in art and cinema.

As a schoolgirl, Aishwarya Subramanian used to attend stage performances of her brother. She, however, was more interested in all the drama that happens behind the stage. The people and the processes that go into the making of a performance was all that mattered to her. She probably would not have heard the term ‘production design’ those days. But the inspiration from watching all that behind-the-stage bustle stayed within her and grew over the years, prompting her to pursue a career in art direction. Even as a beginner, Aishwarya has a clear-cut approach to designing a project in a manner it enriches and enhances the narrative. She does not look at sets as mere lifeless props, but as important as a character.

“Whenever I watch a film or TV series, I notice the backgrounds and the settings of the film. I have always felt that sets have the power to make the audience empathize more with the characters in the story. Whenever I am working on a new project, I read the script first and try to understand the characters and how they would react to and/or interact with their surroundings. Based on this, I put together a lookbook/moodboard to discuss my thoughts and ideas with the director and producers. Once we lock in on them, then we proceed with securing the necessities for the set design” says Aishwarya.

Some of the projects she was a part of as a Production Designer includes an upcoming horror film, ‘What Are You Afraid Of?’, telling a thrilling story of a weekend trip of 5 high schoolers. She was also part of another film named ‘Game Nite’ as a Production designer. She says these projects allowed her to learn methods of designing sets within a small budget and creative methods to repurpose different objects and spaces. As a set decorator in another upcoming thriller film ‘Get Back Girl’, she was able to collaborate with a team of professionals and see different aspects of set design.

Some of the other projects she was part of the production design team, includes ‘Adelina’, a short thriller story of a medical doll. This film has won accolades in international film festivals. 

“Through all these projects, I was able to redesign sets both on-stage and on location, which has both challenged me as a designer and allowed me to identify my strengths. They have let me both be in a team and lead a team as a production designer” says Aishwarya.

When asked about her future endeavors, she says, “Currently I am working on a few projects including a web series as Production designer. I am thoroughly enjoying my path and also learning throughout from different professionals. I am just at the beginning of my career and still have a long journey ahead to establish myself in the industry, not just in the US but also in India.”

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Asset Homes forms partnership with US-based Taurus Investment Holdings https://english.thebusinessday.in/2023/01/06/asset-homes-forms-partnership-with-us-based-taurus-investment-holdings/ https://english.thebusinessday.in/2023/01/06/asset-homes-forms-partnership-with-us-based-taurus-investment-holdings/#respond Fri, 06 Jan 2023 14:36:00 +0000 https://english.thebusinessday.in/?p=1585 ●     The 74th and 75th completed projects will be inaugurated in Kannur on January 7, 2023.

●     Announced a 3-year mega initiative – Mission Centennial with 100 initiatives culminating with completing the 100th project.

●     The company will enter the GCC market with two residential projects in Dubai. And also to expand nationally with projects in Tamil Nadu, Karnataka and Odisha.

●     To join hands with JGT (a CGH Earth company) to develop ultra-luxury residences with high-end hospitality services.

Asset Homes, the leading residential developer in Kerala, has formed a partnership with Taurus Investment Holdings, a global real estate private equity investment and development firm based in Boston, USA. Taurus, which has made over $10 Billion (INR 82,000 Crores) in investments spanning more than 70 million (7 Crore) square feet of assets across the world, has joined hands with Asset Homes both as a joint venture partner and investor. This is the first time that a Kerala-based real estate company has attracted foreign direct investment (FDI).

Erik Rijnbout, Global President, Taurus Investment Holdings, said that the firm has decided to partner with Asset Homes considering the Kerala builder’s well-established systems in place, corporate governance, high-quality products, innovative ideas and growth prospects. “Taurus Investment Holdings is excited to form a partnership with Asset Homes that will, over the near to medium term, help Asset Homes to enter the next stage of growth,” said Ajay Prasad, Country Managing Director – India at Taurus.

Asset Homes has completed seven housing projects in the calendar year 2022. As many as 450 housing units were built in these projects, covering a total area of around 6 lakh sq ft. The 74th and 75th completed projects of Asset Homes (Asset Senate and Asset Raintree) will be inaugurated in Kannur on Saturday (January 7), said Sunil Kumar. V., Founder and Managing Director of Asset Homes.

A. N. Shamseer, Speaker, Kerala Legislative Assembly; P Santhosh Kumar MP, K. V. Sumesh MLA, T. O. Mohanan, Mayor, Kannur; A P Abdullakkutty, former MP, Asha Sharath, Actor and Brand Ambassador of Asset Homes will grace the inaugural function.

Construction of Asset Identity, the company’s 100th project, will begin this month itself, said Sunilkumar. The apartment complex comprising 300 housing units, including super luxury apartments, penthouses and selfie units, will be constructed as part of Taurus Downtown Trivandrum, a 5.5 million (55 lakh) square foot, mixed-use precinct being developed in Technopark Phase III in Thiruvananthapuram. Asset Identity will include 96-sqft selfie apartments, which brought global recognition for Asset Homes and 2, 3 and 4-bedroom apartments.

Taurus Downtown Trivandrum has over 3.5 million (35 lakhs) square feet of offices, Kerala’s largest shopping centre and the Identity tower, in a total of 55 lakh square feet of built space on approximately 25 acres of land. Leading global architect Benoy’s London and Newark offices have designed the master plan for the project. “The Downtown Trivandrum project, envisaged as a city within a city, will introduce Kerala to a new international lifestyle that it is as of yet unused to”, opined Anil Kumar, Chief Operating Officer, Taurus India.

Sunilkumar outlined a 3-year mega initiative – Mission Centennial, with 100 initiatives culminating with the completion of the 100th project by November 2025. This ambitious roadmap will put Asset Homes into the top-league Indian Real Estate industry.

In addition to Asset Identity, Asset Homes will launch five more new housing projects in Ernakulam, Alappuzha, Kozhikode and Thrissur in this financial year (2022-23), thus making the total tally 105, informed Sunilkumar.

Sunilkumar also explained the geographical expansion plan to other states and foreign countries. As per this, the company will start two housing projects in Dubai in 2023. The projects will come up in JVC and Al Warsan, prominent and developed residential areas in Dubai. Sunilkumar said the revised Visa rules and high quality of living had made Dubai a favourite investment destination. Asset Homes will also start projects in Karnataka, Tamil Nadu and Odisha in 2023.

In association with JGT, the real estate wing of the leading hospitality group CGH Earth, Asset Homes will also enter into super-premium, uber-luxe projects with global luxury amenities and five-star hospitality services in prime locations. The first phase will see such projects in Kochi, Kottayam and Thrissur.For more details, contact Sunilkumar V, sunil

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Luminis Institute’s convocation held https://english.thebusinessday.in/2022/11/22/luminis-institutes-convocation-held/ https://english.thebusinessday.in/2022/11/22/luminis-institutes-convocation-held/#respond Tue, 22 Nov 2022 13:43:31 +0000 https://english.thebusinessday.in/?p=1581 Convocation ceremony of  Luminis Institute of Skills and Training’s second batch of medical scribing certificate program was held in Kochi in which 200 students who have successfully completed the program received their certificates from Justice (Rtd.) B. Kemal Pasha. Adv. Jayashankar delivered the keynote speech.

Speaking on the occasion, Akhil M S, CEO, LIST, said in this second batch, out of 200 students, more than 140 have already been placed while of the 80 of the 90 students in the first batch had also been successfully placed. “Because of the increasing number of specialty hospitals and people using health insurance in the state, there exists a huge demand for medical scribes.

Presently, one medical scribe is needed for every doctor and the 1-year-long certificate program designed by LIST is targeted to cater to this increasing demand,” he added. The program includes an internship at Bangalore-based New Generation Jobs.

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Mahindra Manulife Mutual Fund launches Small Cap Fund https://english.thebusinessday.in/2022/11/21/mahindra-manulife-mutual-fund-launches-small-cap-fund/ https://english.thebusinessday.in/2022/11/21/mahindra-manulife-mutual-fund-launches-small-cap-fund/#respond Mon, 21 Nov 2022 14:43:01 +0000 https://english.thebusinessday.in/?p=1578
  • Minimum 65% of the asset allocation will be towards Equity & Equity related instruments of small cap companies
  • Scheme to be benchmarked against S&P BSE 250 Small Cap TRI
  • Scheme opens on 21st November 2022, closes on 5th December 2022 and reopens for continuous sale and repurchase from 14th December, 2022
  • Mahindra Manulife Mutual Fund, a joint venture of Mahindra & Mahindra Financial Services Limited (“Mahindra Finance”) and Manulife Investment Management (Singapore) Pte. Ltd. has announced its ‘New Fund Offer’ (NFO). The Scheme called Mahindra Manulife Small Cap Fund is an open-ended equity scheme predominantly investing in small cap stocks. This product is suitable for investors who are seeking long term capital appreciation and Investment predominantly in equity and equity related securities of small cap companies.

    .

    Small cap mutual funds have potential to create wealth and generate alpha over long term, as they provide exposure to companies which are potential market leaders in the industries they operate in and are likely to become future midcaps as they scale up. They are generally under-researched and under-owned, thus providing an opportunity for stock picking at reasonable valuations.

    Anthony Heredia, MD & CEO, Mahindra Manulife Mutual Fund said, “The Indian economy is well poised and have potential to be one of the leading economies in the world over the coming decade. This may throw unprecedented opportunities across sectors and businesses, with many smaller companies using this possibility to become much larger over time. Small cap funds would be an ideal option for long term investors looking to take advantage of this change and should become a core part of investor portfolios. Given our past track record in looking at these companies across our diversified fund range, we feel this is the right time to bring this product to market, and help our investors realize their longer-term wealth creation aspirations.”

    Krishna Sanghavi, Chief Investment Officer – Equity, Mahindra Manulife Mutual Fund said: “The investment objective of the fund is to generate long term capital appreciation by investing in a diversified portfolio of equity & equity related securities of small cap companies. Indian small caps offer a wide range of companies that are likely to participate and grow with Indian economy as India moves from 7th largest to 3rd largest economy in terms of size. The economy offers opportunities for many small cap companies to grow to be mid cap companies in future. Small caps as a segment also allows a wider choice in sector allocation. Valuation-wise, small caps currently offer a good opportunity for investors who want to build a long-term equity portfolio.”

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