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MUMBAI: Telugu epic sci-fi film Kalki 2898 AD has buoyed the Indian film box office by garnering over Rs 350 crore in domestic and over Rs 500 crore in global collections. According to film trade website Sacnilk, the film grossed Rs 369 crore domestically and Rs 146 crore from overseas markets in the first four days since its release on June 27.The film, which draws inspiration from Hindu mythology and features Amitabh Bachchan, Kamal Haasan, Prabhas, Dulquer Salman, Deepika Padukone and Disha Patani, is the first major blockbuster hit of 2024 in an otherwise underwhelming first half due to a lack of big releases.As per Ormax Media, the cumulative box office collection stood at Rs 3,791 crore between January and May, with Fighter and Hanu-Man being the only films to gross over Rs 200 crore at the box office.

India's market regulator said on Monday charges levied by market infrastructure institutions such as stock exchanges, clearing corporations and depositories should be uniform and not based on volumes. Exchanges often charge a lower fee to brokers if they generate high volumes, contributing to a surge in trading across segments like derivatives. Asking exchanges to stop this practice is part of a wider set of measures being discussed by the Securities and Exchange Board of India to curb the frenzy in India's derivative markets.Sebi has directed market infrastructure institutions (MIIs) to ensure that the charges recovered from end clients should be "true to the label". In a circular issued by the market regulator on Monday, it directed MIIs to make sure that the charges received by them are same as levied by them on their members, including stock brokers, depository participants, clearing members. The charges levied by MII on their clients are ultimately recovered from investors. The move came after it came to Sebi's notice that aggregated charges collected by the members from the end clients were higher than the end-of -month charges paid to the MII (due to slab benefit)."Upon examination of existing processes related to charges levied by MIIs on their members (i.e. stock brokers, depository participants, clearing members), it was observed that a volume based slab-wise charge structure is followed by some MIIs. These charges are levied in lieu of various services offered by MIIs and are recovered from the end clients by members. It has also been observed that members generally recover such charges from the end clients on a daily basis whereas MIIs receive aggregate charges from the members on a monthly basis. The aforesaid process can result in a situation wherein the aggregated charges collected by the members from the end clients is higher than the end of month," the Sebi circular said."This can also result in an incorrect or misleading disclosure to the end client about the charges levied by MIIs," it added.The issue was deliberated upon by the Secondary Market Advisory Committee (SMAC) of Sebi, where it was observed that the current practice was impacting transparency. Moreover, it found that the existing slab-wise charge structure of MIIs can also create a hindrance for the MIIs in ensuring equal and fair access to all market participants by impacting the level playing field between members owing to their size differentials.The new rules mandate MIIs to comply with the lastest direction. While designing the processes for charges levied on their members, MIIs will now have to ensure that the amount recovered from the end client should be 'True to Label'.The charge structure of the MII should be uniform and equal for all its members instead of slab-wise viz. dependent on volume/activity of members.The new charge structure designed by MIIs should give due consideration to the existing per unit charges realised by MIIs so that the end clients are benefited with the reduction of charges. MIIs will now be required to take necessary steps to put in place requisite infrastructure and systems for implementation of the circular.The circular would be effective from October 01, 2024.

Small and medium sized IT companies continued to show year-on-year improvement in the share of aggregate revenue and profit of the sector in the March 2024 quarter though the extent of improvement has tapered down implying resilience from the top tier companies. In addition, the non-top tier set of companies reported more than 100 basis point year-on-year expansion in the operating margin (EBIT margin) for the second consecutive quarter.The revenue share of a sample of 83 tier II and III software companies inched up to 17.7% in the March quarter from 17.1% a quarter ago. This 60 basis point expansion was however lower than the 200 basis point expansion seen in the year-ago quarter. Their net profit share expanded by 70 basis points to 12.7%, which was also lower than the 250 basis point improvement a year ago.111418091Aggregate revenue of the small and mid tier IT companies has been growing faster than their top tier counterparts since the September 2021 quarter. In the March 2024 quarter, it rose by 6.6% year-on-year to Rs 35,116.3 crore. For the top five companies including Tata Consultancy Services (TCS), Infosys, HCL Technologies, Wipro, and Tech Mahindra, aggregate revenue grew by 1.6% to Rs 1.6 lakh crore, the slowest pace in at least 25 quarters. Their net profit increased by 8.5% to Rs 27,884 crore, slower than the small and mid tier companies which posted 16.1% growth in profit at Rs 4,074.8 crore.The operating margin of the non-top tier companies expanded by 121 basis points year-on-year to 16.5% in the March quarter. The margin has shown improvement for two consecutive quarters after either staying flat or falling in the previous eight quarters. For the top tier software exporters, the operating margin expanded by 127 basis points to 23.4% after shrinking in the previous two quarters.

Nifty on Monday formed an Inside Bar candle on the daily chart as it ended 131 points higher at fresh closing high.Positive chart pattern like higher tops and bottoms is intact. The underlying trend of Nifty remains positive. The market is racing towards the next upside target of 24,400 levels in the near term. Immediate support is placed at 23,980 levels, said Nagaraj Shetti of HDFC Securities.Open Interest (OI) data showed that on the call side, the highest OI was observed at 24,500 and 24,700 strike prices. On the put side, the highest OI was at 24,000 strike price.What should traders do? Here’s what analysts said:Rupak De, LKP SecuritiesNifty remained in the bulls' grip as the index sustained above 24,000 in the initial trades, leading to a rally towards 24,150. Continuous short build-up by the put writers has been protecting the market from falling. Going forward, the trend might remain strong as long as it stays above 24,000. A fall below 24,000 might lead to a correction towards 23,850/23,700. On the other hand, a decisive move above 24,200 might take the index towards 24,500.Shrikant Chouhan, Head Equity Research, Kotak SecuritiesTechnically, after muted open the market took the support near 24,000/79,000 and bounced back sharply. On daily charts, it has formed a bullish candle and on intraday charts, it is holding higher bottom formation, which is largely positive. We are of the view that, the short-term texture of the market is positive but due to temporary overbought conditions, we could see some profit booking at higher levels. For traders now, 24,000/79,000 would act as a sacrosanct support zone. While 24,200-24,300/79,700-80,000 could be the immediate profit, booking zones for the day traders. On the flip side, below 24,000/79,000 traders may prefer to exit out from the trading long positions.Tejas Shah, JM Financial & BlinkXWe need to wait and watch till the high (24,164) or low (23,992) of today’s daily candle is taken out for further direction on Nifty in today’s trading session. The bulls are in full control of the markets at the current juncture and are using every intraday correction to create long positions. The short term moving averages are below the price action and should continue to support the indices on any decline. Support for Nifty is now seen at 24,000 and 23,750-800 levels. On the higher side, immediate resistance for Nifty is at 24,175 level and the next resistance is at 24,300 level. Overall, all dips should be used as an opportunity to buy.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)

Tata Equity P/E Fund, managed by Tata Mutual Fund, completed 20 years on June 29. The scheme has given 19.47% returns since its inception. The scheme manages assets worth Rs 7,904 crore as of May 2024.Launched in June 2004, the scheme has offered 17.04% returns in 10 years, 21.14% returns in five years, 25.78% in three years, and 52.21% in one year. During the same time period the benchmark (Nifty 500 - TRI) offered 15.27%, 19.76%, 19.81%, and 39.98% returns, respectively.<iframe title="Tata Equity P/E Fund - Scorecard" aria-label="Split Bars" id="datawrapper-chart-webiG" src="https://et-infographics.indiatimes.com/graphs/webiG/1/" scrolling="no" frameborder="0" style="width: 0; min-width: 100% !important; border: none;" height="166" data-external="1"></iframe><script type="text/javascript">!function(){"use strict";window.addEventListener("message",(function(a){if(void 0!==a.data["datawrapper-height"]){var e=document.querySelectorAll("iframe");for(var t in a.data["datawrapper-height"])for(var r=0;r<e.length;r++)if(e[r].contentWindow===a.source){var i=a.data["datawrapper-height"][t]+"px";e[r].style.height=i}}}))}();</script>Also Read | These 6 mid cap MFs turn Rs 5 lakh lumpsum investment into Rs 1 crore in 20 yearsIf someone had made a monthly SIP of Rs 10,000 in this fund since inception, the current value would have been Rs 1.82 crore with an XIRR of 17.55%. A monthly SIP made in the fund for a period of five years offered XIRR returns of around 28.38%. In the three-year horizon, the scheme has offered 33.47% SIP returns. An SIP investment would have offered 21.94% returns in seven years.An investment of Rs 1 lakh in the fund when it was launched would have become Rs 35.15 lakh now with a CAGR of 19.46%. In a three- and five- year period, a lump sum investment of Rs 1 lakh would have turned into Rs 2 lakh and Rs 2.59 lakh, respectively.Based on yearly returns for the last 20 years, the scheme has offered negative returns three times. In 2008, it lost 53.84%. In 2011 and 2018, the scheme lost 23.76% and 7.06%, respectively. The scheme underperformed against its benchmark (NIFTY 500 - TRI) in 2006,2012, 2013, 2018, 2019, 2020, and 2021.Also Read | These four equity mutual fund categories gave over 25% return in three yearsIn 2008, when the benchmark went down by 56.54%, the scheme sank by 53.84%. In 2011 too, the scheme went down by 26.40% whereas the fund was down by 23.76%. In 2009, the scheme offered around 103.59% returns.The portfolio of the fund is diversified across 55 stocks, with top 10 stocks accounting for 35.07%. As on May 31, the fund has 93.61% allocation in equity, and 6.37% in others, which include cash and cash equivalents. The scheme is primarily largecap-oriented with an allocation of around 44.39%. While 35.95% is allocated in smallcap, 13.28% is in midcap, and 6.37% in others. As per the information document as on May 31, 2024, the scheme has 2,25,325 folios.Tata Equity P/E Fund is an open ended equity scheme following a value investment strategy. Tata Equity P/E Fund would follow a value investing strategy for the management of its portfolio. Primarily, at least 70% of the net assets would be invested in equity shares whose rolling P/E ratio on past four quarter earnings for individual companies is less than rolling P/E of the S&P BSE SENSEX stocks, according to the SID of the scheme.