Choice International shares are in the spotlight this Friday! The company just announced that it has received permission from the Securities and Exchange Board of India (SEBI) to set up a mutual fund. This approval, given in a letter dated December 26, 2024, is a big step for the company.
What does this mean? It means Choice International can start creating an Asset Management Company (AMC) and a Trustee Company, following all the rules in India. The in-principle approval shows that SEBI thinks the company meets the basic requirements to start the fund, while also mentioning some conditions they need to follow.
Now, Choice International can begin hiring staff, putting together the necessary documents, and getting everything ready to launch their mutual fund.
In other news, Mamata Machinery Limited’s IPO is making waves today. Check out the latest share price and details on Niftystat.
Choice International is doing great in the stock market too! Over the past year, their shares have increased by 143.8%, and 129.2% just this year. Currently, their stock is priced at Rs 536.75, after a 1.55% rise on Thursday. Although it’s below some short-term averages, it’s performing well in the long-term averages.
So, keep an eye on Choice International as they take this exciting step!
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