This mutual fund has turned ?10,000 SIP into ?12.75 lakh in 5 years; Kolkata doctor rape-murder case updates; Tech & more

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This mutual fund has turned ?10,000 SIP into ?12.75 lakh in five years

Mirae Asset Midcap Fund, launched on July 29, 2019, has turned a monthly Systematic Investment Plan (SIP) of ?10,000 into ?12.75 lakh over the past five years. The scheme achieved this with an annualised returns of 30.72%, according to Value Research report.For investors who made a lumpsum investment of ?1 lakh since the fund's inception, the value has grown to ?3.56 lakh. This reflects a CAGR of 28.65%. Over the last three years, the scheme delivered a CAGR of 23.24%.

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Piramal Enterprises shares fall 10% after CLSA downgrade, Jefferies projects 18% downside

Shares of Piramal Enterprises Ltd. are the top losers on the Nifty 500 index on Wednesday after the company's June quarter results and subsequent negative commentary from analysts who track the company.

Brokerage firm CLSA downgraded the stock to "underperform" from its earlier rating of "outperform" and also cut its price target to ?860.The brokerage said that negative credit costs due to lower provisions and one-off gains supported an otherwise weak operating profit performance.CLSA also noted that some segments of the retail book are continuing to see a deteriorating 90-plus Days Past Due (DPD) trend. Days Past Due means how many days has a borrower exceeded the due date for loan repayments. For the quarter, the retail 90-plus DPD delinquency stood at 0.6% from 0.5% in March.

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Kolkata doctor rape-murder case: CBI takes over probe, FAIMA continues nationwide shutdown of OPD services

The Central Bureau of Investigation has taken over Kolkata doctor rape and murder case following the order from the Calcutta High Court. A specialised medical and forensic team from Delhi has been sent to Kolkata to investigate the case.

On August 9, the semi-nude body of a woman postgraduate trainee (PGT) doctor was found inside the seminar hall of the government-run RG Kar Medical College and Hospital in Kolkata. The deceased, a second-year student of the chest medicine department, was on duty on Thursday night (August 8).On August 12 (Tuesday) evening, two CBI officers took documents related to the Kolkata Police's investigation into the case. The court had directed the city police to hand over the case diary to the central probe agency by Tuesday evening, and all other documents by 10 am on Wednesday.

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#TechTalks??

Meet the Pixel 9 Pro Fold — Google's second-gen foldable smartphone

Google has officially launched the Pixel 9 Pro Fold, its second-generation foldable smartphone at the Made By Google event on Tuesday, August 13. The new device is packed with Google's AI features and impressive hardware specifications. It is priced at ?1,72,999 in India, though a release date has yet to be announced.

Features

The Pixel 9 Pro Fold boasts an 8-inch Super Actua Flex inner display, which Google says is 80% brighter than previous models, Google said.

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Google launches Pixel Buds Pro 2 and Pixel Watch 3

Google has unveiled the next generation of its wearables, the Pixel Buds Pro 2 and the Pixel Watch 3. Both products, showcased at the Made By Google event on August 13, promise to enhance user experience through innovative features and cutting-edge design, Google said.

According to Google, the Pixel Buds Pro 2 are designed for comfort and a secure fit, utilising data from 45 million ear scans to create an optimal shape. The company added that the new Tensor A1 chip allows for a 27% reduction in size while enhancing performance and battery life.Key features include a twist-to-adjust stabiliser for a customisable fit during exercise and the first Tensor chip in an earbud, processing audio 90 times faster than sound. The Active Noise Cancellation with the proprietary Silent Seal 2.0 technology adapts to the environment, cancelling noise up to twice as effectively as previous models.

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#PersonalFinance??

10 Things to consider before investing in a mutual fund

Always consult an investment advisor before investing in mutual funds. Seeking professional advice ensures that your investments align with your financial goals and risk tolerance.

Investment Goals | Clearly define your investment objectives prior to selecting a mutual fund. Whether you aim to save for retirement, education, or another goal, having specific objectives will guide your fund choice.

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Bank of India MF launches Business Cycle Fund; NFO available till August 23

Bank of India Mutual Fund has launched its new product, the Bank of India Business Cycle Fund, as part of its New Fund Offer (NFO). The NFO is open till August 23, 2024.The fund aims to capitalise on various phases of the economic business cycle: high growth, stable growth, declining growth, and very low or no growth. It will invest dynamically across sectors and industries to leverage emerging market trends and growth themes.

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#StartupsWorld??

Punch secures $7 million funding to drive R&D and enhance single-screen trading platform

Punch, a trading platform tailored for first-time traders and part-time investors, has secured $7 million in a recent funding round led by Stellaris Venture Partners, Prime Venture Partners, and angel investors including Kunal Shah of CRED and Nitish Mittersain of Nazara Technologies.The startup is set to use this capital to advance its research and development efforts as well as enhance its recently launched safety-first single-screen trading platform. Speaking to CNBC-TV18, Amit Dhakad, Co-Founder and CEO of Punch, emphasised that a major portion of the newly acquired funds will be allocated to research and development.

"The funds that we have raised, the majority of it is going to be deployed in research and development," Dhakad stated.The company’s objective is to create innovative tools that foster new habits and behaviours among traders, particularly those embarking on their trading journey.

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Indian eco-friendly brand Beco raises $10 million in pre-Series B round

Homegrown eco-friendly home, kitchen and personal care brand, Beco (Be Eco) has raised $10 million as part of its pre-Series B round fundraise.Two years after the Series A round, this fresh infusion of funds was led by Tanglin Venture Partners, with participation from Titan Capital Winners Fund. The company also saw participation from Manish Choksi, promoter of Asian paints, existing investor Rukam Capital and Synergy Capital.

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