Net Equity outflow increases in August - #Mandi for Asset Management Industry
Equity mutual funds saw the high redemption in August as investors withdrew Rs 4,000 crore in August. It was higher than Rs 2,480 crore recorded in July, according to AMFI data.
Total assets under management (AUM) were Rs 27.7 lakh crore in August, as against Rs 27.2 lakh crore in July.
Union cabinet approves changes to labor codes - #Teji for labor reforms
The Union Cabinet has approved proposed changes to labor codes, which will be moved in the upcoming monsoon session in Parliament. Amendments have been made to the labor codes for industrial relations (IR), social security, and occupational safety and health (OSH).
With these amendments states such as Uttar Pradesh, Madhya Pradesh and Gujarat will be able to push through their planned labor reforms.
Silver Lake to invest in Reliance Retail #Teji for RIL
Private equity giant Silver Lake Partners will invest Rs 7,500 crore in the retail unit of India’s Reliance Industries Ltd (RIL).
This investment comes close on the heels of RIL's minority stake purchase in Kishore Biyani-led Future Group, through its subsidiary Reliance Retail.