Axis Mutual Fund sends two seniors employees on leave for alleged insider trading; SEBI investigation ongoing; know impact on fund here!
Two senior executives in Axis Mutual Fund have been sent on leave for alleged insider trading, Zee Business' Brajesh Kumar tells in this exclusive report.
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03:14 PM IST
Two senior executives in Axis Mutual Fund have been sent on leave for alleged insider trading, Zee Business' Brajesh Kumar tells in this exclusive report. One of them is a fund manager while the other is a dealer, he further said.
The revelation on this came after an investigation by the Securities and Exchange Board of India (SEBI).
The market regulator was conducting a probe on all the transaction done by the two executives over the past 4-5 years along with the transactions done by other team members.
The management of the fund is of the view that the two executives have indulged in some impropriety and has send them on a leave, Kumar said.
A more detailed investigation on this is ongoing by SEBI to find if something wrong has been done only in recent transactions or it dates even back.
Anchor and head-research Deepanshu Bhandari's explains the impact and also tells in which shares does this fund have top holdings.
Dipanshu Bhandari, while explaining about its impact, said that it should not have any effect. It is a matter of fact that there are two people associated with the fund, on whom the investigation is going on and if anything comes to the fore in this investigation, then it will come in front of everyone. But there is no impact on the stock as of now. This is a good fund. There is a kneeling reaction somewhere in the market, when such news comes and what is happening now. Somewhere a knee-jerk reaction has been seen in the market, when such news comes and that exactly happening right now.
Axis Mutual Fund is the seventh largest mutual fund. Its holding is in 81 shares and the asset under management is also about Rs 2 lakh 60 thousand crores, Bhandari stated.
He further said that the only fear is whether there may be redemption pressure in the market? If something big comes out in this investigation, will people start withdrawing their money? As of now there is no indication but news is going on. So, because of this, all the stocks in which Axis Mutual Funds has a high shareholding are seen to be under pressure. It is an irrational fear, but surely this fear is coming.
For More Details Watch Full video Here:
एक्सिस म्युचुअल फंड से जुड़ी अहम खबर...
दो सीनियर को क्यों छुट्टी पर भेजा?
एक्सिस MF की किन शेयरों में सबसे टॉप होल्डिंग है?
जानिए पूरी खबर ब्रजेश कुमार और दीपांशु भंडारी से...#axismutualfund @BrajeshKMZee @deepdbhandari pic.twitter.com/PQ6NPSsuex
— Zee Business (@ZeeBusiness) May 6, 2022
Top holdings of axis mutual funds
Torrent Power - 8.5%
Info Edge Limited - 7.4%
Coforge - 6.5%
PI Industries Ltd. - 5.2%
Divis Laboratories Ltd - 3.9%
Birlasoft - 3.9%
Astral - 3.87%
Motherson Sumi Systems Limited - 3.7%
and more.
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