Tag: Stock Market

Business

Kotak Flexicap Fund Completes 15 Years of Long-Term Wealth Creation

Tanisha Cardozo

Kotak Mahindra Asset Management Company Ltd. has announced the 15-year milestone of the Kotak Flexicap Fund, marking a significant journey in long-term wealth creation. Since its inception, the scheme has delivered a compounded annual growth rate (CAGR) of 16.59 per cent, building a strong performance record across multiple market environments.

Commenting on the milestone, Nilesh Shah, Managing Director of Kotak Mahindra Asset Management Company Ltd., said the completion of 15 years is a moment of pride for both the organisation and the investors who have remained committed to the fund. He noted that the flexicap category continues to be important because it allows investors to participate in India’s growth across market segments while leaving allocation decisions to experienced investment teams.

As of 31 December 2025, the fund’s Direct Plan – Growth Option has generated a CAGR of 15.70 per cent over 10 years and 16.87 per cent over five years. The fund is managed by Harsha Upadhyaya, Chief Investment Officer at Kotak Mahindra AMC, whose investment philosophy focuses on sustainable earnings, strong governance and capital efficiency.

Upadhyaya said the fund has navigated varied market cycles over the past 15 years by staying anchored to businesses with durable earnings potential and strong capital efficiency. He emphasised that the focus has always been on research-backed stock selection rather than chasing short-term trends, enabling the fund to participate meaningfully in India’s growth while aiming to deliver consistent long-term outcomes.

Flexicap funds are designed to offer agility across market environments by investing across large, mid and small-cap segments. As of December 2025, the Kotak Flexicap Fund held approximately 73 per cent in large caps, 19 per cent in midcaps and 5 per cent in small caps.

The portfolio blends top-down sector views with bottom-up stock selection. Key exposures include financial services, automobiles and auto components, capital goods, chemicals, construction materials and consumer services. The fund’s research-driven approach is aimed at identifying long-term opportunities supported by sound valuations and clear earnings visibility.

Business

Kotak Securities’ 2026 Market Outlook Signals Strong Equities and Shining Gold Amid Global Volatility

Tanisha Cardozo

Written by Tanisha Cardozo || Team Allycaral Business Desk

Kotak Securities Ltd (“Kotak Neo”) has released its Market Outlook 2026, presenting a confident view of India’s financial landscape for the coming year. Despite global volatility, the firm expects Indian equities and key commodities to maintain strong momentum driven by favourable macro conditions, robust earnings expectations and rising investor participation. Shripal Shah, MD & CEO of Kotak Securities, said that India continues to stand out as a beacon of growth amid global turbulence. According to him, equity markets are well-positioned to deliver strong performance in 2026, supported by healthy corporate earnings and policy initiatives. Shah also highlighted the increasing role of young investors in shaping the future of India’s capital markets, adding that the industry must work towards making investing more inclusive and accessible.

Citing recent SEBI findings, Shah noted a significant gap between market awareness and actual participation: while 63% of households are aware of at least one market product, only 9.5% actively invest. This, he said, indicates substantial untapped potential for the Indian equity ecosystem and a major opportunity for brokerage firms to drive greater financial inclusion. The report points out that Indian equities overcame a sharp 17% drawdown from the September 2024 highs, with the Nifty 50 rebounding to a new all-time high by the end of 2025. Large-cap stocks led the recovery, while mid- and small-cap segments trailed. Sectors such as automobiles, banks and metals outperformed during the year, whereas IT and FMCG remained under pressure. Persistent foreign portfolio investor outflows were absorbed by strong domestic investor activity, further reinforcing confidence in India’s market resilience. A buoyant primary market through 2025 demonstrated sustained investor interest and optimism.

Looking ahead, Kotak Securities expects Nifty earnings to remain healthy, projecting profit growth of 17.6% for FY27 and 14.8% for FY28. Based on these expectations, the report lays out three potential scenarios for December 2026: a base case target of 29,120 assuming a 20x PE on FY28 expected EPS of ₹1,456, a bull case of 32,032 at a 22x PE, and a bear case scenario of 26,208 at an 18x multiple. On the commodities front, 2025 saw exceptional movements. Gold surged over 55%, crossing the $4,000 per ounce mark, driven by geopolitical tensions, macroeconomic uncertainty and strong central bank buying. Indian gold prices rose even more sharply—approximately 60%—due to rupee depreciation. Silver proved an even stronger performer with gains of nearly 100%, supported by safe-haven demand and persistent structural supply deficits despite industrial headwinds from tariffs. Crude oil, however, ended 2025 with a 19% decline as excess supply outweighed geopolitical concerns. Base metals like copper and aluminium remained firm, supported by tight supply conditions, electrification demand and structural constraints even as volatility persisted.

Overall, Kotak Securities’ Market Outlook 2026 emphasizes a year of opportunity for investors willing to navigate global uncertainty with a focus on India’s strong fundamentals, expanding investor base and commodity trends that continue to offer both stability and growth potential.

Finance

Calcutta Stock Exchange Prepares for Final Exit After 117 Years

Tanisha Cardozo

The end of an era is near for one of India’s oldest financial landmarks. The Calcutta Stock Exchange (CSE), established in 1908, is preparing to voluntarily exit its role as a stock exchange after years of operational dormancy and prolonged legal battles.

A century ago, CSE was a powerhouse of trade in the eastern region of India, standing toe-to-toe with the Bombay Stock Exchange. Its building on Lyons Range in Kolkata symbolized prosperity, enterprise, and financial ambition for decades. However, over time, the momentum slowed. After a massive settlement crisis tied to the Ketan Parekh scam in the early 2000s, CSE’s influence began to wane. Trading was officially suspended by SEBI in April 2013 due to regulatory non-compliance and failure to adopt modern trading frameworks.

In February 2025, the exchange submitted a formal application for voluntary exit to SEBI. The decision followed a shareholder vote held in April 2025, where the majority approved a transition plan that would see CSE shift from an exchange to a holding company. Its broking subsidiary, CSE Capital Markets Pvt Ltd (CCMPL), will continue operations through affiliations with the BSE and NSE.

SEBI has appointed Rajvanshi & Associates as the valuation agency to oversee the financial assessment of the exchange, and the exchange has already offered a Voluntary Retirement Scheme (VRS) to employees. The move is expected to save ₹10 crore annually, with ₹20.95 crore allocated for staff exit packages.

Part of the transformation also involves the sale of CSE’s prized 3-acre property on EM Bypass to real estate group Srijan for ₹253 crore — another indicator of the exchange’s shift from traditional market functions to asset management.

The 2025 Diwali season is likely to be its last as a functioning entity — a poignant and symbolic farewell. Kolkata’s iconic financial monument, which has stood tall for 117 years, will cease to operate as a stock exchange, representing the larger story of how India’s capital markets have consolidated over the last two decades.

This voluntary exit is more than a regulatory process. It is the final chapter of a historic institution that once played a pivotal role in India’s financial growth — and a reflection of how regional exchanges have given way to national and global trading platforms in an increasingly digital, centralized world.

Sports

United Spirits Denies RCB Stake Sale Talks Amid Market Buzz; Shares Jump Over 3%

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Bengaluru, India – June 11, 2025
Amid widespread speculation around Diageo’s potential stake sale in Royal Challengers Bengaluru (RCB), United Spirits Ltd. — a subsidiary of global beverage giant Diageo — has firmly denied any ongoing discussions related to a divestment.

In a formal statement released to the stock exchanges, United Spirits clarified, “We would like to confirm that there are no discussions or decisions at this time regarding the sale of our stake in Royal Challengers Sports Private Limited (RCSPL), which owns the RCB franchise.”

Despite the rumors, investor sentiment remained bullish. Following the company’s clarification and a strong set of quarterly financial results, shares of United Spirits surged by over 3% in intraday trading on Wednesday. The rally highlights market confidence not only in the company’s core business performance but also in the continued brand value of the RCB franchise.

The company reported better-than-expected earnings for the quarter ended March 2025. Strong volume growth in its premium segment, improved operational efficiency, and favorable input costs contributed to the positive performance. The management also reiterated its focus on portfolio premiumization and digital transformation.

Royal Challengers Bengaluru remains one of the most valuable and popular franchises in the Indian Premier League (IPL). Despite not having clinched a title yet, RCB boasts a massive fanbase and significant brand equity, further fueled by high-profile players and celebrity ownership associations.

The speculation surrounding a potential stake sale began after unconfirmed reports suggested that Diageo might be considering a strategic reshuffle of its Indian sports and entertainment assets. However, today’s statement puts those rumors to rest — at least for now.

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Vedanta to Seek Final Shareholders’ and Creditors’ Approval for Demerger on February 18

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In a significant development, Vedanta Limited has announced that it will hold meetings of its equity shareholders and secured and unsecured creditors on February 18 to seek their final approval for the proposed demerger of the company.

The demerger, which was first announced in September 2023, aims to create five separate entities focused on aluminum, power, oil and gas, steel and ferrous, and other existing businesses under Vedanta Limited. The move is expected to simplify the company’s corporate structure, unlock value, and provide faster growth opportunities in each vertical.

According to Vedanta, the demerger will result in the creation of five independent companies, each with its own management team, governance structure, and growth strategy. The companies will be listed on the Indian stock exchanges, providing investors with direct exposure to each business.

The proposed demerger has already received clearance from the Mumbai Bench of the National Company Law Tribunal and has been approved by the stock exchanges. The meetings of equity shareholders and secured and unsecured creditors on February 18 will be the final step in the approval process.

Research firms and brokerage houses have expressed confidence in Vedanta’s demerger, seeing it as an opportunity for the company to unlock value and provide faster growth opportunities in each vertical. Emkay Research has stated that the demerger could lead to a re-rating of Vedanta’s stock, as investors will be able to take exposure to each business separately.

The share price of Vedanta Limited (VEDL) has risen by 72% in the last year, reflecting investor optimism about the company’s growth prospects. The company’s parent, Vedanta Resources Limited (VRL), has also raised $1.1 billion through new bond issuances, demonstrating strong investor demand for the company’s debt.

With the final approval for the demerger expected on February 18, Vedanta Limited is poised to embark on a new chapter in its growth journey. The company’s focus on unlocking value, providing faster growth opportunities, and creating independent businesses is expected to benefit shareholders and investors in the long run.