INSUBCONTINENT EXCLUSIVE:
Mid- and small-cap shares rallied on Monday after market regulator Securities and Exchange Board of India (Sebi) tweaked asset allocation
norms for multi-cap mutual funds
On Sunday, it clarified that multi-cap funds must invest at least 25 per cent each in large-, mid- and small-cap stocks
The Nifty Midcap 100 index surged as much as 3.32 per cent, and the Nifty Smallcap 100 as much as 5.56 per cent, during Monday's
session."In order to diversify the underlying investments of multicap funds across the large, mid and smallcap companies and be true to
label, it has been decided to partially modify the scheme characteristics of multi-cap fund," Sebi said.The existing multi-cap funds will
have to comply with the new norms within a month, after industry body Amfi (Association of Mutual Funds in India) publishes the next list of
other multi-cap schemes were near zero or insignificant.Among the mid-cap shares, Syngene was the top gainer, trading 13.5 per cent higher
space, KPIT Technologies jumped the most, climbing up as much as 18 per cent
Indoco Remedies, Persistent Systems, MCX, Blue Star, Awanti Feeds and VIP Industries rallied between 10 per cent and 17 per cent.
