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Daily Money Show 307 - Axis MF Governance Issue and M&M Demerger
Original: # 307 Daily Money Show | Money Purse Stock Market News
Takeaway
Axis MF governance breach is a wake-up call on AMC selection, while M&M tractor demerger could unlock value.
Summary
- Markets fell sharply: Sensex -866, Nifty -271, midcap -1.97%, smallcap -2.08% on global selloff led by US markets
- Axis Mutual Fund front-running scandal - two fund managers V Anand and Madan terminated; serious governance red flag from a large AMC
- M&M to demerge tractor/farm equipment business from auto - 43% tractor market share, most profitable segment in group; advisors include global consultancies and IBs
- Premier Explosives and LDC Explosives news, plus Mumbai-based EV startup raising; auto Q1 numbers: 36% YoY, 5.9% QoQ growth in light vehicles
market newsAxis MFM&M
Original description
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