A healthcare worker wearing personal protective equipment (PPE) takes swab from an employee for a rapid antigen test inside a factory, amidst the coronavirus disease (COVID-19) outbreak, in Ahmedabad, India, September 11, 2020. REUTERS/Amit Dave
MUMBAI: India’s mid- and small-cap stocks are set to receive a boost after the regulator tweaked rules for multi-cap mutual funds, a move analysts say could push about 400 billion rupees ($5.4 billion) to the broader market.
Multi-cap funds must hold at least 75% of their assets in equities -- up from 65% at present -- with 25% each in large, medium and smaller companies to ensure they stick to their mandate of investing in a wide set of stocks, the Securities & Exchange Board of India said in a circular late Friday.
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