Parikh said the one good thing about banks and financial services right now is that the asset quality is much better than what it has been in a long time.
Ahead of results, in the month gone by, mutual funds brought down their stake in the NBFC (non-banking financial company) to 4.71 percent. As of August end, mutual funds’ stake stood at 6.63 percent, according to data compiled by Prime Database.
The block comes a day after Reliance Industries chairman Mukesh Ambani announced in the annual general meeting that Jio Financial Services will enter the insurance segment to offer life, general, and health insurance products
Investors are eagerly waiting for value unlocking in the telecom and retail divisions of RIL. Responding to shareholders questions in the previous AGM, chairman Mukesh Ambani had mentioned that he would update them on Jio and Retail IPOs during the next AGM
Historically, the equity markets turn volatile in a range before the rate hike cycle ends. So one can expect the markets to be in a range and volatile in the near term.