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Eternal (formerly known as Zomato) has become the top pick in the mutual fund portfolios in August, receiving the highest investment of Rs 7,200 crore, beating down some big names such as Infosys, Paytm, HDFC Bank, ICICI Bank, and others, according to a report by Nuvama Institutional Equities.The report further highlights that the stock was among the top 10 additions by some mutual funds such as Aditya Birla Sun Life Mutual Fund, Axis Mutual Fund, Franklin Templeton Mutual Fund, HSBC Mutual Fund, Invesco Mutual Fund, JM Mutual Fund, Kotak Mutual Fund, Motilal Oswal Mutual Fund, and Tata Mutual Fund. The stock was among the top reductions by SBI Mutual Fund.Also Read | Infosys, Paytm and BSE among key stocks bought and sold by mutual funds in August. Check full listAccording to the report, the equity mutual funds deployed cash meaningfully in August, with overall balances dropping from Rs 1.85 lakh crore (5.46%) in July to Rs 1.76 lakh crore (5.23%), as several AMCs capitalized on block deal opportunities. Motilal Oswal Mutual Fund led the deployment, investing Rs 6,300 crore, driven by its midcap scheme’s participation in Eternal’s Ant Block, bringing its cash down from Rs 8,200 crore (9.6%) to Rs 2,000 crore (2.2%). This was followed by SBI Mutual Fund and ICICI Prudential Mutual Fund, which deployed Rs 3,100 crore and Rs 1,900 crore, respectively, reflecting a broader shift toward equity allocation. In contrast, a few schemes added to their cash buffers. Kotak Mutual Fund increased cash by Rs 2,700 crore, followed by Nippon India Mutual Fund with Rs 1,600 crore, and PPFAS Mutual Fund with Rs 1,500 crore, taking its already elevated cash ratio from 20.9% to 21.8%. These additions suggest selective caution amid the broader deployment trend.In August, mutual funds had around 225 crore shares compared to 202 crore shares in July, witnessing an addition of nearly 23 crore shares.Also Read | Sectoral & thematic mutual funds inflows drop by over 50% in August. Is investor interest fading?Among the top 10 stocks bought by mutual funds in August, the other nine were Infosys, HDFC Bank, Kotak Mahindra Bank, Paytm, Bharti Airtel, Axis Bank, ICICI Bank, Tata Communications, and Info Edge (India), which received investment ranging between Rs 1,400 crore to Rs 5,000 crore.Mutual funds also trimmed their exposure in several stocks, with Maruti Suzuki and Avenue Supermarts witnessing the largest selling by mutual funds of Rs 3,100 crore and Rs 2,900 crore, respectively. Some other top existing mutual funds include NTPC, Sun Pharma Industries, Hindustan Unilever, Hitachi Energy, ONGC, HDFC AMC, L&T, and UltraTech Cement.

Indira Gandhi International Airport in Delhi is gearing up to reopen its upgraded Terminal 2, which is scheduled to become operational from October 26, said GMR in a press release on Monday.According to the memo, the move comes as the airport aligns with the commencement of the winter flight schedule and aims to enhance operational efficiency while offering passengers an improved travel experience."Terminal 2 is not just a facility upgrade— It's a complete reimagination of the passenger journey. With innovative technologies like the Self Baggage Drop and autonomous docking aerobridges, we are empowering travelers, optimizing efficiency, and preparing IGI Airport for the future of aviation," said Videh Kumar Jaipuriar, CEO-DIAL."As india's busiest aviation hub accelerates toward its next phase, these wolf-class enhancements underline DIAL's vision to deliver an unmatched passenger experience while supporting the country's growing air travel aspirations," he added.What's new?The upgraded terminal will handle approximately 120 daily domestic flights operated by Air India and IndiGo, shifting from existing terminals to streamline operations. The renovations, carried out since April when the terminal was temporarily closed, include advanced passenger facilities such as Self Baggage Drop (SBD) counters, designed to reduce queue times and give travelers greater control over check-in processes. Terminal 2 now also features six new passenger boarding bridges equipped with autonomous docking technology, the first implementation of its kind in India, enabling faster and safer aircraft handling. Upgraded airside and apron facilities, modern ceilings, skylight designs, and improved flooring aim to create a brighter, more accessible environment for travelers.The refurbishment further includes comprehensive mechanical, electrical, and safety upgrades, such as new HVAC and fire safety systems, enhanced power infrastructure, and a high-resolution Flight Information Display System (FIDS). Clear signage, accessibility features for persons with reduced mobility, and better road connectivity further support smoother passenger movement. DIAL officials noted that the reopening of Terminal 2 represents a significant step toward modernizing Delhi Airport to meet increasing passenger traffic while improving operational efficiency and traveler convenience.

SEBI’s board meeting on Friday may have skipped any immediate changes on weekly expiries or extending the tenure of derivative contracts, but the speculation is far from over. SEBI Chief Tuhin Kanta Pandey said a consultation paper would be released in due course, keeping alive the possibility of tweaks in the coming months.According to a Nuvama Institutional Equities report dated September 13, the imminent SEBI paper on index derivative tenures could significantly alter the earnings trajectory of exchanges, particularly BSE, the only listed one. The changes under consideration could involve shifting expiry days, moving to fortnightly or monthly cycles, or tweaking contract sizes. Nuvama cautioned that limiting expiries would be the most damaging and modelled five possible outcomes for BSE’s earnings:Scenario 1: Different day, fortnightly expiryIf BSE retains Thursday expiries and NSE sticks with Tuesday, but only fortnightly contracts are allowed, BSE’s average daily premium turnover (ADPTV) would halve to Rs 66,000 crore. That translates into a 26.8% cut in FY27 earnings per share (EPS).Scenario 2: Different day, monthly expiryRestricting expiries to once a month, with each exchange having a different day, would hit BSE harder. ADPTV could slump 77.5% to Rs 33,000 crore, leading to a 36.6% EPS cut.Scenario 3: Mid-month and end-month alternating expiryIf BSE handles mid-month and NSE takes the end-of-the-month, both on the same weekday, the overall market would shrink, but BSE could pick up some share. Still, its ADPTV could fall 46% to Rs 80,000 crore, trimming EPS by nearly 20%. In this, contracts will be month-long, but expiries will have about a two-week gap.Scenario 4: Same day, fortnightly expiryBoth exchanges offering fortnightly expiries on the same day would shrink BSE’s ADPTV by 66% to Rs 50,000 crore by FY27, implying a 32% EPS hit over the same period. Scenario 5: Same day, monthly expiryThe worst case, according to Nuvama, is if both NSE and BSE are limited to a single monthly expiry on the same day. BSE’s ADPTV could collapse by over 80% to just Rs 29,000 crore, eroding EPS by 38.5%by FY27.“We are not building in any benefit of potentially higher trading volumes on leftover expiry days due to fewer overall total expiry days. We are mindful that exchanges will have room to raise charges and mitigate this hit; overall impact may thus be lower,” the Nuvama note added.Despite these risks, the brokerage has retained its ‘Buy’ rating on BSE with a target price of Rs 2,820, valuing it at 45x Sep-27 earnings plus the value of CDSL. However, the brokerage added that it will revisit the numbers once clarity emerges on the matter.SEBI CrackdownSebi has been reigning down on the options market since the past one year after multiple surveys pointed to heavy retail losses.The capital markets regulator first floated the idea of extending the maturity and tenure of derivative contracts last month. The regulator has recently rolled out a fresh set of measures to strengthen the market, including moving to a delta-based calculation of open interest as opposed to notional open interest.This measure has an impact on all the large market participants and could potentially make a longer-term impact on volumes and reduce volatility in the market.At about 10 am, shares of the company were trading at Rs 2,219, higher by 0.8% from the last close. The stock pared early gains as it touched an intraday high of Rs 2,254 or 2% higher. BSE shares have had a strong run, up almost 70% in the last six months.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)