Top news and market movers ⚡ this week: 25th Sep’ 20

Kuvera has ventured into insurance sector with launch of Kuvera Protect, an umbrella of insurance solutions. The first product out of the stables is Kuvera Health Protect, a health insurance solution that is designed to be simple, affordable and comprehensive.

Increasing the options available for investing in passive funds, Nippon India Mutual Fund is launching NFO of Nippon India Nifty Smallcap 250 Index Fund on 28 September. The NFO closes on 8 October.

ICICI Mutual Fund has launched the NFO for ICICI Prudential ESG Fund. The fund will invest in a diversified basket of companies based on the Environmental, Social and Governance (ESG) criteria. The NFO closes on 5 October.

IPOs are the talk of the town. Chemcon & CAMS IPOs were oversubscribed by 149 and 47 times respectively during the last week. Route mobile on the other hand, listed at a premium of 105% over the issue price of Rs 350.

Vodafone has won an international tax arbitration case against Indian government. The case was heard in the permanent court of arbitration in The Hague and it ruled that the retrospective tax demand of ₹20,000 crore by income tax department was in breach of 'fair and equitable' treatment.