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Petrol and Diesel prices in cities across India on 21-03-2024

Despite the ban in the F&O segment, these stocks remain available for trading in the cash market.

Here is a quick look at what SBI Mutual Fund, ICICI Pru MF and HDFC MF traded in February 2024.

Despite the GST department's "clarification" in 2018 stipulating that GST must be levied at 18% on exit loads, many firms have not complied with this directive. The current wave of notices pertains to over 100 MF schemes, and the tax authorities have already collected at least ₹10 Crore from a few firms that opted to settle the dues. Among the MFs targeted by the GST notices are Nippon India Mutual Fund, Kotak Mahindra Mutual Fund, and ICICI Prudential Mutual Fund, among others.

The dollar index remained steady at 103.23, following a decline of over 0.5% in the previous session. Attention shifted to the Bank of England's rate decision later in the day, with expectations of the central bank maintaining rates unchanged despite a slowdown in British inflation in February.

It was a month of active churn across large caps, mid-caps, and small caps in February 2024.

The Gurugram-based firm posted a profit after tax of ₹37 Crore for the December quarter of FY24.

Mgmt reiterated its focus on premiumisation, especially in Faucets (26% share of premium vs 57% in Sanitaryware), and also increasing concentration in the Tier 1/ 2 cities. Mgmt highlighted significant operational efficiencies that were achieved, including the reduction in rejection rates; ~40-50% cost savings on imported products by moving in-house. Mgmt estimates Sanitaryware market to have grown to Rs100-120bn (~50% organised) and 140bn for Faucets (~60% organised).

Market sentiment regarding the Fed's monetary policy stance shifted, with Fed funds futures traders now pricing in a 75% likelihood of rate cuts commencing in June, up from 59% on Tuesday, according to the CME Group's FedWatch Tool. Concurrently, the dollar depreciated to a one-week low against its counterparts, while benchmark U.S. 10-year Treasury yields exhibited a decline.

The IPO comprised a combination of fresh shares worth ₹175 Crore and an offer-for-sale (OFS) of 17.5 lakh shares worth ₹125.13 Crore by promoter Krystal Family Holdings. Priced in the range of ₹680-715 per share, the proceeds from the fresh issue will primarily be allocated towards working capital requirements (Rs 100 Crore), debt repayment (₹10 Crore), and purchase of new machinery (₹10 Crore). The remaining funds will be utilized for general corporate purposes.