The News Scroll 16 August 2018  Last Updated at 8:06 pm | Source: PTI

Business Briefs

Business Briefs

Tata Asset Management launches 'Tata Multicap Fund'

New Delhi, Aug 16 (PTI) Tata Asset Management today said it has launched a new equity scheme that will invest in a mix of large-cap, mid-cap and small-cap stocks, without any allocation restrictions.

The open ended scheme -- Tata Multicap Fund -- will open for subscription from August 17 and close on August 31. The scheme will re-open for continuous sale and repurchase after allotment, Tata Asset Management said in a statement.

The minimum investment amount will be Rs 5,000 and in multiple of Re 1 thereafter. The fund will follow blend of both 'value' and 'growth' style of investing to suitably align the portfolio depending upon market environment and opportunities, the statement added.

*************** ShopClues eyes double GMV growth in refurbished devices category


New Delhi: E-commerce player ShopClues today said it aims to double its GMV growth with a 16 million customer target in 2018 in refurbished and unboxed devices category.

ShopClues, in a statement, said it clocked Rs 4.5 crore in sales from refurbished and unboxed electronic devices, including laptops, smartphones, and tablets, in July.

"ShopClues is targeting to double its GMV growth with a 16 million customers target in 2018...Looking at the huge global as well as domestic potential for refurbished goods, ShopClues also plans to grow this category in India to include a larger universe, ranging from TVs to watches and more," it added.

Volume of the refurbished smartphones alone grew by close to 25 per cent in 2017 and crossed 12 million units in India with more than third accounted by Apple and Samsung, according to the Counterpoint Research.

"We have almost doubled our customer base from 8 million to 16 million within 2 years and our success has given us confidence to offer more than 400 stock selling units from different brands in the smartphone category," Radhika Aggarwal, co-founder and chief business officer of ShopClues, said. PTI VHP SR SHW SBT SBT

Disclaimer :- This story has not been edited by Outlook staff and is auto-generated from news agency feeds. Source: PTI
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