HDFC MF surpasses ICICI Prudential MF to become largest AMC in India
New Delhi: HDFC Mutual Fund has pipped ICICI Prudential MF to become the country’s largest asset management company after a gap of over two years. As of December-end, HDFC MF managed assets to the tune of Rs 3.35 lakh crore, while those of ICICI Prudential MF stood at Rs 3.08 lakh crore, as per the latest data available with Association of Mutual funds in India (Amfi). The assets under management (AUM) of HDFC MF have grown over 9 per cent in October-December quarter from the previous three-month period, however, ICICI Prudential MF’s AUM slipped by 0.6 per cent during the period under review. HDFC MF was the largest asset manager since October 2011 and it held the numero uno position till March 2016, when ICICI prudential MF had overtaken the top spot. On month-on-month basis, ICICI Prudential MF had surpassed HDFC MF in terms of AUM in February 2016 and had reached the top position. SBI MF is at the third slot with AUM of Rs 2.64 lakh crore, followed by Aditya Birla Sun Life MF (Rs 2.42 lakh crore) and Reliance MF (Rs 2.36 lakh crore).
Volvo Car India sales up 30 pc at 2,638 units in 2018
New Delhi: Volvo Car India on Thursday reported 30 per cent increase in its retail sales at 2,638 units in 2018. The company had sold 2,029 units in 2017, Volvo Car India said in a statement. Cars from the company’s Scalable Product Architecture (SPA) and Compact Modular Architecture (CMA) platforms have gained momentum in the market with healthy sales contributions coming from XC60, XC40, XC90 and S90, it added. Commenting on the performance, Volvo Car India managing director Charles Frump said it was a record year for the company in India in 2018.
India sees 7.36 pc drop in coffee exports in 2018
New Delhi: Coffee exports from India declined 7.36% on a year-on-year basis to 3.50 lakh tonnes in 2018 owing to a fall in shipment of robusta and instant coffee varieties, according to Coffee Board. In terms of value also, coffee exports dropped to Rs 5,770.48 crore in 2018 from Rs 6,091 crore in the previous year. Italy was the top export market for India in 2018, as 76,437.56 tonnes of coffee was exported to the country followed by Germany (28,582 tonnes) and Russia (21,397 tonnes). As per the Board’s latest data, the country exported 3,50,280 tonnes of coffee in 2018 calendar year. PTI