Leading asset manager Motilal Oswal AMC published a declaration on Sunday, clarifying speculation concerning investments in Kalyan jewelers. The Fund House, reacting to rumors that its fund managers may have been a sudden to fill up on Kalyan jewelers, said that these discussions were “baseless, malicious and defamatory”.
“These baseless accusations on social networks are a deliberate attempt by people with interest acquired to slander the good reputation that our company and our leaders have built over the decades,” said a statement published by the Chamber of Funds.
The high management of Kalyan jewelers, whose actions were under pressure in the last 15 days, had already denied the conjecture during a call for analyst last week.
In a final clarification, Motilal Oswal said these attacks on our integrity are completely unacceptable and reminded the market participants an inheritance covering nearly four decades which highlights ethical practices and transparency.
“We have constantly confirmed the highest standards of integrity, compliance and performance. We have good history of corporate governance and compliance and no cases of violations have been reported in accordance with allegations made on networks social, “said the AMC. The Fund House urged people not to believe these baseless attempts and contrary to ethics to spread a disinformation. “We urge all stakeholders to rely on credible and verified sources of information.” Returning his investment approach on the market, Motilal Oswal AMC said that the construction of the portfolio was high. Conviction with a strong accent on Alpha, looking for close spaces on the market.
The Fund House said: “Our wallet construction presents our high approach to conviction with a strong emphasis on the alpha by seeking close spaces on the market which allow strong growth in profits with a conviction that the markets follow the growth of benefits over time. Our performance history is built on the contributions of several investments and are well diversified. »»
The actions of Kalyan Jewelers were in free fall despite a strong update in the third quarter in the middle of such rumors. The action is down 16% last week and dropped by more than 30% last month. The stock was once a darling of the street, increasing up to 940% since its registration in March 2021.
In the past year, the actions of Motilal Oswal financial services increased by 104.06%. In recent months, shares have dropped by 13.02% and 21.79% respectively.
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