Avendus Market Neutral Fund is an AIF and hence it largely caters to HNIs, UHNIs, Family Offices, Trusts, Corporate Treasuries etc. who are looking to diversify their portfolio and earn risk-adjusted returns over a period of 18+ months. In the new order of highly volatile global markets and performance of asset classes, investors will find Market Neutral Strategy, as a low correlation tool to achieve their overall objective.

The stock quoted a 52-week high of Rs 3013.0 and a 52-week low of Rs 1561.0.

The company informed exchanges that the board of directors will meet on June 24, 2022, to consider raising of funds through the issue of shares on a rights basis to existing shareholders of the company.

Stating that there are ample opportunities for investors to uncover mispriced companies, it said there are 27,000 smallcaps available across emerging markets, including in India, with a total market capitalisation of about $11 trillion and daily turnover of $135 billion.

A surge in S&P500 futures helped the domestic and other Asian markets gain ground, with the BSE market capitalisation rising Rs 3.92 lakh crore to Rs 238.79 lakh crore from Rs 234.86 lakh crore on Monday. The BSE barometer Sensex was trading over 700 points higher at 52,300 level while Nifty50 was close to 15,600.

KEC’s Transmission & Distribution business has secured orders for T&D projects in India, Middle East & Americas. Railway’s business has secured an order for 2x25 kV overhead electrification & associated works for speed upgradation under their mission ‘Raftaar’ in India.

At the interbank foreign exchange, the rupee opened at 78 against the American dollar, then lost further ground to quote at 78.04, registering a fall of 6 paise over the last close.

“In some of the businesses, the correction may be overdone. The valuations have also become very attractive and that is where one will have to gradually start buying into the stocks. That could include some of the IT companies, some banks as well as NBFCs, particularly those in housing finance.”

The appeal of changing money into TerraUSD, a stablecoin that promised 1:1 convertibility into dollars, lay in the near-20% yield on TerraUSD deposits. Withdrawal of funds from Anchor Protocol, the main DeFi lending application on the blockchain, crushed the coin, as well as Luna, its sister asset.

“Historically, Tesla has traded at valuations 1.5-2x that of SONA. However, in recent times, likely led by concerns on inflation and subsequent monetary tightening, Tesla’s stock has seen significant multiple derating,” Ambit’s analyst Karan Kokane said.