HDFC Top 100 Fund Celebrates 27 Years Of Wealth Creation

* The scheme was launched in October 1996, making it one of the longest running mutual fund schemes in India.

HDFC Top 100 Fund, an open-ended equity scheme predominantly investing in large-cap stocks (“the Fund”), has successfully completed 27 years of operation in 2023. Over the past 27 years, the Fund has delivered Compound Annual Growth Rate (CAGR) of ~19%. Further, a SIP of Rs 10,000 invested systematically on the first business day of every month (total investment Rs 32.40 Lacs) in HDFC Top 100 Fund would have grown to Rs. 6.88 crores by September 29, 2023 (See complete performance details below). This performance is a testament to the fund's ability to navigate market fluctuations and deliver steady growth to investors.

The portfolio construction follows a bottom up approach to stock picking blended with top down sector and macro trends. The Fund follows a diversified style with a blend of GARP (growth at reasonable price) and value. In stock selection, the focus is on quality of business models, management and financial metrics. Portfolio construction is based on risk-reward of opportunities available at any given point in time. As per the mandate, more than 80% of the portfolio always remains invested in the well-established large cap companies. The core of the portfolio construction is from a medium to long term perspective. The strategy will be in line with our philosophy of maintaining a disciplined approach of looking for quality companies at reasonable valuations.

There is lot of focus on risk management with active positions being taken in a controlled manner while ensuring compliance with regulatory and internal risk guidelines. Any high conviction bets are taken after a considered evaluation of the company’s positioning in the industry and the business cycle and regularly evaluated. The portfolio is well diversified in number of stocks and the fund manager takes measured sector deviations calls vs benchmark.

Large-cap stocks have historically demonstrated stability during economic fluctuations and have had better risk reward ratios. Further, the large cap index has outperformed mid and small cap indices in 7 out of last 17 calendar years. Also, given the recent sharp outperformance of mid and small caps over large caps, the large cap segment now seems to be relatively attractive in terms of valuations and investors with medium to long term view may consider investing in HDFC Top 100 Fund.

Rahul Baijal, Senior Fund Manager - Equities, HDFC Mutual Fund, said "HDFC Top 100 Fund's consistent performance over the past 27 years is a testament to our rigorous research, disciplined investment approach, and a focus on well-established businesses. Large-cap stocks offer stability and better risk adjusted return, making them an attractive option for investors looking for investment opportunities over the long term."

MUTUAL FUND INVESTMENTS ARE SUBJECT TO MARKET RISKS, READ ALL SCHEME RELATED DOCUMENTS CAREFULLY.

About HDFC AMC

HDFC Asset Management Company Limited (HDFC AMC) is an Investment Manager to HDFC Mutual Fund, one of the largest mutual funds in the country. It was incorporated under the Companies Act, 1956, on 10th December 1999 and was approved to act as an Asset Management Company for HDFC Mutual Fund by SEBI on 3rd July 2000. It has other SEBI licenses viz. PMS / AIF. HDFC AMC manages a diversified asset class mix across Equity and Fixed Income/Others. It also has a countrywide network of branches along with a diversified distribution network comprising Banks, Independent Financial Advisors and National Distributors.

Kiwi Raises $13 Million In A Series-A Round Led By Omidyar Network India To Expand The “Credit On UPI” Landscape In India

~Existing investors Nexus Venture Partners and Stellaris also participated in the funding round~

~Certified by NPCI, Kiwi will partner with leading banks to issue instant digital RuPay credit cards~

Kiwi, one of India’s leading FinTech companies that is transforming the credit card landscape in India, has raised $13 million (Rs. 108 Crore) in a Series-A funding round led by Omidyar Network India. Existing investors, Nexus Venture Partners and Stellaris Venture Partners also participated in this round. This funding will enable Kiwi to further expand its ‘credit cards on UPI’ offerings in India.

Founded in November 2022, Kiwi is the first fintech company in India to launch “credit cards with UPI” by issuing digital RuPay Cards in collaboration with banks. Its cutting-edge mobile application provides users with the ability to make secure payments using either a credit card or a bank account directly through their phones. Certified by the NPCI as a licensed UPI third party app (‘TPAP’), Kiwi had previously secured $6 million in funding from prominent investors, including Nexus Venture Partners, Stellaris Venture Partners, and a group of angel investors.

Kiwi is co-founded by senior fintech experts and banking industry veterans, Siddharth Mehta (ex-CEO, Freecharge), Mohit Bedi (ex-Axis Bank and PayU), and Anup Agrawal (ex-business head, LazyPay). Currently, Kiwi has issued 25,000 credit cards and aims to on-board 5 lakh customers by end of 2024. It has partnered with Axis Bank and plans to collaborate with two large banks in the next six months.

Kiwi believes that leveraging credit as a key attraction will drive customer acquisition, particularly with the vast user base of nearly 300 million UPI users, out of which only 40 million are deemed credit-worthy by banks based on traditional underwriting criteria. Kiwi is on a mission to expand the current underserved credit-worthy customers in India. The number of unique UPI users is 8-10 times the number of existing credit card users in India, and the acceptance points for 'Credit on UPI' are estimated to be 35X larger than regular credit card acceptance points. This presents significant growth potential for Kiwi.

On the fund raise, Anup Agrawal, co-founder and CEO of Kiwi, said, "We have been big believers in UPI Credit Card from the start and seeing it take shape is amazing. We started a few months back and looking at the positive response we have received in the last six months of our existence, this fresh round of financing comes at a critical juncture in our business. The funds will enable us to further develop our services and offer innovative products to our customers as we enter the next phase of product development and growth. With this funding round, we are excited to welcome our new investor, Omidyar Network India onboard and humbled to have the confidence and trust of our existing investors Nexus and Stellaris in our business.”

Treasa Mathew, Director, Omidyar Network India said, "Increasing access to affordable and convenient financial products beyond digital payments and ensuring deeper and more consistent usage of formal credit is the critical next step in advancing the financial inclusion journey of India’s Next Half Billion. We are thrilled to lead this investment in Kiwi, a pioneering fintech company with a clear vision for the future of transactional credit in India. We believe in the transformative power of Kiwi's solutions and are excited to back the team as they continue to innovate and expand their footprint. We look forward to a successful partnership and supporting the continued growth of Kiwi in the dynamic Indian fintech landscape."

About Kiwi

Kiwi, one of India’s leading FinTech companies that is transforming the credit card landscape in India. As an NPCI certified entity, Kiwi is the first app in India to offer customers the opportunity to experience "Credit on UPI" through its partnership with banks to issue RuPay Credit Cards. The company aims to disrupt the credit card industry by becoming the leading issuer of RuPay Credit Cards by 2026.

Kiwi had previously raised $6 million in from Nexus Venture Partners, Stellaris Venture Partners, and a host of angel investors.

About Omidyar Network India

Omidyar Network India invests in bold entrepreneurs who help create a meaningful life for every Indian, especially the hundreds of millions of Indians in low-income and lower-middle-income populations, ranging from the poorest among us to the existing middle class. To drive empowerment and impact at scale, we work with entrepreneurs in the private, non-profit and public sectors, who are tackling India’s hardest and most chronic problems. We invest in the areas of Advancing Cities, Digital Society, Education and Employability, Emerging Tech, Financial Inclusion & Well Being and Property Inclusivity. We are also focused on several emerging areas of investment such as Open Digital Ecosystems, Sustainable Living, The Equal Opportunities Lab, India Innovation Insights Hub. Omidyar Network India is part of the Omidyar Group, a diverse collection of companies, organisations and initiatives, supported by philanthropists Pam and Pierre Omidyar, founder of eBay.

BIMTECH's 3rd PRISM 2023 Concludes With Insightful Closing Remarks By IIM Nagpur Director, Education Advisor

Birla Institute of Management Technology successfully hosted the '3rd PRISM 2023 INTERNATIONAL CONFERENCE' from November 17th to 19th. The conference explored the challenges of leadership, digitalization, and sustainability under the theme "Reimagining the Future of Business: The Challenges of Leadership, Digitalization, and Sustainability."

The ceremony concluded with the Dr. Pritam Singh Award Ceremony and Valedictory Function, featuring distinguished personalities, including Prof. Anil Sahasrabudhe, Chairman of the National Educational Technology Forum; Prof. D P Singh, Education Advisor to the Chief Minister, UP Government; Mr. P Dwarkanath, President of PRISM; Bhimaraya Metri, Director, IIM Nagpur; Prof. Dr. C Rajkumar, Founding Vice-Chancellor of OP Jindal Global University, Haryana; and Prof. H Chaturvedi, Director of BIMTECH.

Dr. Pritam Singh Lifetime Achievement Award 2023 is conferred upon Prof. Anil Sahasrabudhe, Chairman of the National Educational Technology Forum, EC-NAAC, and NBA. Dr. Pritam Singh Transformational Leader Award 2023 is conferred upon Prof. Dr. C Rajkumar, the Founding Vice Chancellor of OP Jindal University, Haryana.

Bhimaraya Metri, Director, IIM Nagpur remarked, "During the 3rd PRISM conference in 2023, we observed active participation from a diverse array of esteemed individuals, including seasoned educators, scholars, and professionals deeply immersed in the field of education. Their collective engagement added immense value to the conference, fostering a dynamic exchange of ideas and insights."

Prof. H Chaturvedi, Director of BIMTECH, stated, "During the three-day conference, we learned one important thing: if you do good things in life, help others, take care of your pupils, people will never forget you, even if you depart from this world." He further illustrated this principle through the example of Dr. Pritam Singh, emphasizing his roles as an educator, thought leader, and administrator.

The 3rd PRISM 2023 INTERNATIONAL CONFERENCE was made possible through the generous support of its sponsors and partners. Adani Enterprises and Union Bank of India played pivotal roles as Gold Sponsors, while Executive Access contributed as a Silver Sponsor. The international conference also received valuable support from Hindustan Petroleum Corporation Ltd. (HPCL), Institute of Public Enterprise (IPE), Association of Indian Management Schools (AIMS), Vishwa Vishwani Institute of Systems & Management (VVISM), and Siva Sivani Institute of Management (SSIM) as Bronze Sponsors. Recognizing the significance of the conference, ICSSR (Indian Council for Social Science Research) and the Ministry of Education provided grant support. The media presence was amplified through the collaboration with Business World as the Media Partner, and Education Promotion Society for India (EPSI) joined as a Partner, contributing to the success of the international conference.

Tata Power Renewable Energy Limited Crosses Significant Milestone Of 1.4 GW Capacity Of Group Captive Projects

Tata Power Renewable Energy Limited (TPREL), a subsidiary of The Tata Power Company Limited, one of the large renewable energy players in India has crossed the 1.4 GW capacity of group captive projects in last seven months. This achievement is the result of signing of Power Delivery Agreements (PDA) with various industries across segments.

Some of the prominent group captive projects that TPREL has signed in the last six months include - collaborations with Tata Steel, Tata Motors, Mukand Limited (a Bajaj Group company), Supreme Petrochem Limited, Xpro India Limited, Neosym Industry Limited, Chalet Hotels Limited, Sanyo Special Steel Manufacturing India Pvt. Ltd, ANAND Group, Endurance Technologies Limited, to name a few. TPREL is also set to construct a 41MW captive solar plant for Tata Power’s upcoming 4.3GW Solar cell & module manufacturing facility in Tamil Nadu.

Mr. Deepesh Nanda, CEO & MD, TPREL said, “Crossing the 1.4 GW mark is not just a milestone for us but a testament to our continuous dedication to sustainability and our contribution towards the country’s green energy ambition. We take pride in our role as a catalyst for positive change, delivering customized clean energy solutions that aligns with the unique needs of each industry. This achievement is not just a number; it represents our shared journey towards a greener, more sustainable future.”

With these group captive projects, TPREL's overall renewables capacity as on Oct’23 has reached 7,961 MW, which comprises 3,755 MW of projects in different phases of development and with an operating capacity of 4,206 MW, which includes 3,200 MW in solar projects and 1,006 MW in wind projects. TPREL also has a huge pipeline of renewable projects under finalisation which will further add to its capacity in the coming months. This reinforces TPREL's position as a key player in the renewable energy sector, confirming its commitment to accelerating the energy transition to a more sustainable and environment friendly future.

Blue Dart Introduces Automated "Digital Parcel Lockers" At Selected Post Offices, Offering Customers An Additional Delivery Method

Blue Dart Express Limited, South Asia's premier express air, integrated transportation, and distribution logistics company, has announced a ground-breaking partnership with India Post. With this collaboration, Blue Dart introduces automated Digital Parcel Lockers at selected post offices, offering customers an additional delivery method.  

This innovation allows consignees to conveniently retrieve their shipments from digital parcel lockers, doing away with the need for personal receipts or signing for a package. These Digital Parcel Lockers keep their contents secure and are easily accessible. When the recipient needs to retrieve a package from the locker, they can simply enter the assigned code and open the locker. Additionally, deliveries can be collected at any time, and only authorized personnel can access the packages. Blue Dart has teamed up with Podrones, a last-mile technology and parcel locker company, to power this initiative.  

On the partnership, Amitabh Singh, Postmaster General, Mails & BD, Maharashtra Circle, says, "Fusing Forces, India Post's Smart Parcel delivery system (ANVIT) teams up with Blue Dart's expertise to harness the potential of Smart Parcel technology for redefining the landscape of efficient and reliable logistics solutions."  

Balfour Manuel, Managing Director, Blue Dart, adds, "Blue Dart has maintained a long-standing strategic business relationship with India Post. This transformative partnership underscores our unwavering commitment to exceptional customer service, providing customers the option to collect packages at their convenience. This initiative demonstrates our commitment to revolutionize hyper-connected city logistics, enhancing last-mile delivery efficiency while ensuring a reliable and secure experience for our customers in an increasingly digital and on-demand world.” 

Blue Dart's collaboration with India Post and the introduction of Digital Parcel Lockers exemplify the company's dedication to delivering innovative and customer-centric logistics solutions. The company eagerly anticipates the myriad benefits this partnership will bring to its valued customers, reinforcing its position as the trailblazer in the express industry. 

Zee Media's Hawa Badlenge Conclave To Kick Off On Tuesday - Nov 21; A Bold Move Against Air Pollution

Zee Media, a trailblazer in the realm of meaningful discourse, is set to host the ‘Hawa Badlenge Conclave’ on Tuesday 21st November, a pioneering event dedicated to addressing the critical issue of air pollution. This exclusive conclave will bring together thought leaders, policymakers, and experts from various fields to discuss and deliberate on effective strategies to combat the escalating menace of air pollution.

The upcoming on-ground conclave will kick off with a mesmerizing opening qawwali performance at 11 am setting the tone for a day of insightful discussions, promising a riveting line-up of sessions aimed at addressing the urgent issue of air pollution. The schedule is power-packed with engaging sessions, featuring prominent figures who are actively contributing to the fight against pollution.

In the inaugural session, "Aap-hum aur hawa," Government initiatives and the imperative need for not just regulations but also a societal transformation will be discussed by Gopal Rai, Environment Minister, Delhi, and Gurmeet Singh Khudian, Agriculture Minister, Punjab, under the insightful guidance of Shobhna Yadav. Following this, "Hum Sath Sath Hain" will explore the necessity of collective action beyond politics, featuring Daya Shankar Singh, Transport Minister, Uttar Pradesh, and Devender Singh Babli, Development and Panchayat Minister, Haryana, moderated by Pranay Upadhyaya. Dr. Swati Maheshwari, Internal Medicine Specialist, and Swami Prem Parivartan (Peepal Baba) will then delve into individual responsibilities in "Lung- Saans aur Dhokha," chaired by Tarun.

Additionally, "Pollution Maange Solution" will tackle innovative approaches, featuring Dr. Akhilesh Gupta, Senior Adviser at the Department of Science and Technology (DST), moderated by Pranay Upadhyaya. "Tech Aaj Kal" will explore technological interventions with Mahesh Gupta, Chairman, Kent RO Limited, moderated by Ayaz, and the conclave will conclude with "Hawa Mein Harmony," a performance and interaction by social activist and music composer Rahul Ram, chaired by Sanya.

The Zee Media Hawa Badlenge Conclave aims to foster awareness, collaboration, and action towards a cleaner and healthier environment. This event is a testament to Zee Media's commitment to driving positive change and influencing meaningful conversations.

Brand Studio Lifestyle Eyes Rs. 2,000 Crore GMV By End Of FY24

Brand Studio Lifestyle, India’s fastest-growing house of fashion brands has set its sights on achieving a Gross Merchandise Value (GMV) of Rs 2,000 Crores in the fiscal year 2024. In the previous fiscal, Brand Studio generated a GMV of Rs 1320 crore.

This ambitious goal is driven by the company's identity as a tech-enabled, intelligent fashion business, home to popular youth-oriented fast fashion brands like Highlander, Tokyo Talkies, Vishudh, Locomotive, and Ketch. The company is well on track to achieve its target, with the flagship brands on an annual run rate (ARR) of Rs.1900 Crores.

Commencing operations in 2015, Brand Studio Lifestyle has demonstrated consistent growth since its inception. In the last 8 years, the company has shown an impressive compounded annual growth rate (CAGR) of 38% and a continuous expansion of its operations. In the current fiscal year, the company anticipates a 30%+ year-on-year growth rate from existing channels and categories and additional growth from new business initiatives. 

Brand Studio Lifestyle has design offices in Bangalore and Delhi, a sourcing office in Bangladesh, and a global sourcing network. About 90 percent of the company’s revenue comes from leading online marketplaces and the remaining 10 percent from its Direct-to-Consumer (D2C) initiative - Getketch.com, Ketch App and offline Shop-in-Shop formats. Notably, approximately 6-7% of the total revenue is attributed to Tamil Nadu, a significant market for men's clothing.

Launched in 2021, Getketch.com has over 23 lakh customers, 10 Lakh app downloads and offers a curated fashion experience to customers. Getketch.com exclusively retails all the brands from the Brand Studio Lifestyle portfolio. The company is targeting a GMV of 150 Crore from the D2C Business. 

Mr. Shyam Prasad, CEO, Brand Studio Lifestyle Pvt. Ltd., said, “India is a young country and the population of millennials, Gen Z and Gen Alpha is among the largest in the world. In the next 5-7 years India will have over 1 billion internet users and half of them will be youth. With a growing economy, the market growth targeted at Gen Z will witness an unprecedented and transformational growth. This growth will be distributed across Tier I, II & III cities and towns. We at Brand Studio Lifestyle, being a trend and fashion driven business targeting the youth, are expecting to capitalize on this huge opportunity both in India and Globally. We have already seen this shift in the last 8 years since we started the business, going from Rs.100Cr. GMV in Year One to an expected GMV of Rs.2000 Cr in FY24. This gives us validation that we are in perfect alignment with our target consumer.”

He further added, “Currently, we introduce 800 fresh styles each month, a figure that places us at the forefront of the Indian industry. Our goal is to increase this number to over 2,000 options per month within the next 12 months putting us in the same league as fast fashion players globally. We possess the capability to swiftly deliver new trends to consumers within 8 weeks of identifying a promising fashion trend. Our daily order processing rate now stands at approximately 80,000 units. We collaborate with 300 sourcing vendors across the country, having a combined capacity of 25 lakh units per month. We have ambitious plans to scale this capacity to 35 lakh units, monthly, within the next 18 months.”  

From its early boot-strapped days, the founders of Brand Studio Lifestyle recognized the importance of building a fashion business centered around the consumer. Using a unique data-driven model, which guides the process from design to delivery, the company is able to efficiently deliver the latest trends that resonate with consumers. Brand Studio has built a unique, agile and scalable fast fashion delivery eco system and robust brands to meet consumer demand.

The company has expanded its team multifold – from 20 employees including the founding team, to a workforce of over 700 employees today.  The warehouse space has also seen remarkable growth, increasing from 20,000 square feet to nearly 400,000 square feet capable of holding more than 1.5 Crore garments at any point of time. This expansion indicates the burgeoning demand for fashion in tier 2 and tier 3 cities across the country.

About Brand Studio Lifestyle Pvt. Ltd.

Brand Studio Lifestyle Pvt. Ltd., founded in 2015 and based in Bangalore, Karnataka operates as a House of Fashion Brands that offers a diverse range of fashion clothing under 5 brands ? Highlander, Tokyo Talkies, Vishudh, Ketch and Locomotive.  In 2021, the company introduced Getketch.com and launched the D2C website and app. Brand Studio Lifestyle champions consumer-centric fashion trends through digital platforms.

Brand Studio Lifestyle is home to five distinct brands designed to cater to the complete wardrobe needs of young men and women, offering options for every occasion and mood, all day, every day. Spanning an entire gamut of fashion categories from men’s wear to women’s western wear and ethnic wear, Brand Studio Lifestyle fulfils the demand for affordable, trendy, and dynamic fashion brands online. The company’s innovative business model is the result of the founding team's combined experience in design, sourcing, manufacturing, supply chain management, and retail.