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SBI Multicap NFO garners Rs 7,500-8,000 crore; biggest mop-up in its space

SBI Multicap Fund which closed its new fund offer (NFO) on Monday has collected Rs 7,500-8,000 crore in the fund. Officials in the industry stated that this is the highest ever collection seen in the multicap schemes.

SBI Multicap Fund, an open-ended equity scheme will be investing in a mix of best ideas across large, mid, and small cap companies identified through a robust research process. The NFO opened on February 14, 2022 and closed on February 28, 2022.

Govt may review timing of LIC IPO amid Ukraine crisis: FM Sitharaman

India may take another look at the timing of Life Insurance Corp. of India’s initial share sale, the state-owned insurer, following Russia’s invasion of Ukraine, Finance Minister Nirmala Sitharaman said in an interview.

“Ideally, I’d like to go ahead with it because we’d planned it for some time based purely on Indian considerations,” Sitharaman said in an interview with Business Line newspaper. “But if global considerations warrant that I need to look at it, I wouldn’t mind looking at it again,” she said.

Lupin launches generic medication, to be manufactured in Nagpur, in US

Drug maker Lupin on Tuesday said it has launched Sevelamer Hydrochloride tablets (800 mg), used to treat hyperphosphatemia in patients with chronic kidney disease, in the US market.

The company has launched the product after having received approval from the US Food and Drug Administration (USFDA). The medication will be manufactured at the company's manufacturing facility in Nagpur, Lupin said in a statement.

M&M total sales jump 89% in Feb to 54,455 units, PV sales rise 80%

Mahindra & Mahindra (M&M) on Tuesday said its total sales increased by 89 per cent to 54,455 units in February.

The company's total sales stood at 28,777 units in February 2021. The Mumbai-based auto major's passenger vehicle sales in the domestic market rose by 80 per cent to 27,663 units last month as against 15,391 units in February last year, the auto major said in a statement

From Lux to Kissan Jam, Hindustan Unilever hikes prices by 3-13% in Feb

Hindustan Unilever (HUL) hiked prices across its portfolio of products by 3-13 per cent in multiple tranches in February, with the sharpest increase of 13 per cent seen in the 100 gm Lux soap pack, the price of which increased to Rs 35 from Rs 31 earlier.

The price of the 125 gms soap pack of Lifebuoy was hiked from Rs 31 to Rs 33, a rise of 6.5 per cent. In January, the company had hiked the price of the same stock-keeping unit from Rs 29 to Rs 31.

L&T Finance Holding plans to hasten the pace of retail loan growth

The groundwork for making L&T Finance Holding (LTFH) a retail credit-driven entity had begun before Larsen & Toubro (L&T), its parent, said its subsidiary would get out of wholesale and real estate funding.

Soon after declaring results for the third quarter of FY22, it articulated a roadmap to grow the share of retail loans from 50 per cent now to 80 per cent by the end of March 2026..

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