Six Mauritius-based funds, that have invested most of their money in Adani Group firms, were frozen in 2016
Sectoral indices opened mix as Nifty FMCG index was up 0.19%. On the other hand, Nifty Bank declined 0.87%, Nifty Metal index lost 0.72%.
Barring Nifty Realty (up 0.43%) and Nifty Pharma (up 0.24%) all other sectoral indices ended with losses.
Flipkart co-founder Sachin Bansal owned Navi Mutual Fund raised Rs 100 crore through NFO from 17,000 investors for its Navi Nifty 50 Index Fund
Long term investors may book partial profits and hold the balance in their portfolios as it provides exposure to an EPC firm with strong fundamentals
The valuations on an absolute, as well as a relative basis, are high and investors should consider booking profits at such high valuations
Tracking Asian peers, slipped 454 points or 0.86% to 52,685, while the Nifty 50 was at 15,775 plummeting 132 points or 0.83%.
Udaipur-based infrastructure developer GR Infraprojects got listed at Rs 1,715.85, marking a premium of 105% on the NSE
Shares of Clean Science and Technology opened for trading at Rs 1,784 on the BSE, compared to the issue price of Rs 900, marking a premium of 98.27%
Among largecap stocks, mutual funds bought shares of Indus Towers, Havells India, SBI Cards, JSW Steel, and Muthoot Finance.