Adani Enterp.

2363.6 12.70

Adani Ports

1388.9 41.80

Apollo Hospitals

7308 -43.50

Asian Paints

2449.8 18.80

Axis Bank

1068.6 6.20

Bajaj Auto

8187.5 143.00

Bajaj Finance

885.3 9.70

Bajaj Finserv

1933.6 17.30

Bharat Electron

389.55 12.35

Bharti Airtel

1914.6 30.20

Cipla

1515.1 12.30

Coal India

374.7 2.20

Dr Reddy's Labs

1225 4.40

Eicher Motors

5621 93.00

Eternal Ltd

305.25 0.50

Grasim Inds

2787.8 65.60

HCL Technologies

1474.4 22.30

HDFC Bank

1992 -20.20

HDFC Life Insur.

739.8 -1.90

Hero Motocorp

4535.9 224.30

Hind. Unilever

2543.7 -10.00

Hindalco Inds.

687.7 15.25

ICICI Bank

1463.2 -8.40

IndusInd Bank

804.05 20.35

Infosys

1480.5 10.90

ITC

416.85 0.40

JSW Steel

1055.9 28.10

Kotak Mah. Bank

1997 4.60

Larsen & Toubro

3631.1 43.80

M & M

3200.2 40.90

Maruti Suzuki

12365 63.00

Nestle India

2277.4 0.90

NTPC

332 1.10

O N G C

234.83 -1.96

Power Grid Corpn

287.95 -3.30

Reliance Industr

1411.5 17.80

SBI Life Insuran

1831.5 35.30

Shriram Finance

624.9 10.70

St Bk of India

795.7 1.70

Sun Pharma.Inds.

1641.6 11.90

Tata Consumer

1072.6 2.20

Tata Motors

653.6 4.75

Tata Steel

159.56 6.55

TCS

3074.4 71.40

Tech Mahindra

1475 36.20

Titan Company

3356.3 40.30

Trent

5249 69.00

UltraTech Cem.

12257 144.00

Wipro

246.05 3.30

Mutual Funds   
MF News
MF News - Detailed News Back
Motilal Oswal MF launches first defence sector index fund in India
  15:34 Hrs IST
Motilal Oswal Asset Management Company (AMC) announced the launch of Motilal Oswal Nifty India Defence Index Fund, the first index fund in India providing exposure to domestic defence stocks. The open-ended fund will be available for subscription from 13 June to 24 June 2024.

This fund offers investors a chance to capitalize on the projected growth of the Indian defence sector, estimated to reach $100-$120 billion over the next six years. The Nifty India Defence Index, which the fund tracks, comprises 15 leading companies in defence manufacturing and services. The index has delivered strong returns, with a 1-year and 5-year CAGR of 177.67% and 55.52% respectively, as of 31 May 2024.

The Nifty India Defence Index picks companies from the broader Nifty Total Market that are either classified in defense-related industries or derive at least 10% of their revenue from defense. These selections are based on a company's average market value (free-float market capitalization) over the past 6 months, with each company's influence within the index capped at 20%.

The Indian government's focus on self-reliance (Atmanirbhar Bharat) in defence is driving this sector's growth. Initiatives like import curbs on defence equipment and a push for exports are creating opportunities for domestic companies. This is further supported by increasing foreign direct investments (FDI) in the sector.

This fund is poised to benefit from India''s robust advancements in defence technology and infrastructure, said Prateek Agrawal, MD & CEO of Motilal Oswal AMC. As the fourth largest defence spender globally, India's focus onself-reliance and modernisation offers substantial opportunities for domestic defence companies.

The fund comes with a minimum investment of Rs 500 and offers investors a chance to participate in the potential long-term growth of the Indian defence sector.

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