Last Updated:October 24, 2025, 18:16 IST

ICRA Analytics reports 65.30 percent retail investors used Non-Associate Distributors, while 27.37 percent invested directly.

Retail Investors Prefer Distributor Route; Direct Investments at 27.37%: ICRA Analytics

Approximately 27.37% of retail investors opted for direct investments, while 65.30% of retail investors came through the route of Non-Associate Distributors as of September 30, according to ICRA Analytics. Additionally, 47.70% of the mutual fund industry’s assets were invested directly and 45.96% came from Non-Associate Distributors, ICRA Analytics added.

Direct investment refers to investment directly with the mutual fund company (AMC), where there is no commissions or intermediary fees, making the expense ratio (cost of managing the fund) lower.

Data from AMFI showed that 19% of the assets of the mutual fund industry came from B30 locations in Sep 2025. Assets from B30 locations increased from Rs 14.14 trillion in Aug 25 to Rs 14.50 trillion in Sep 25, representing growth of 2.6%. B30 means Beyond Top 30 cities, including all other smaller towns and cities outside those top 30 (T30) cities.

Assets from T30 locations also grew 14% on a yearly basis in Sep 2025.

B30 location continued to tend towards equity assets. “Nearly 76.60% of the assets from B30 locations are in equity schemes and 9.12% in balanced schemes in Sep 2025,” ICRA Analytics added.

Close to 11.67% of the assets from B30 location are in debt-oriented schemes, while the same from T30 location accounts for 30.39%.

Nearly 28.90% of High Net Worth Individual (HNI) assets were directly invested.

ICRA Analytics earlier said that domestic equity markets rose following robust macroeconomic indicators, as India’s economy expanded by 7.8% YoY in Q1 FY26, marking the strongest growth in five quarters, while the Services PMI surged to 62.9 in Aug 2025. its highest level in over 15 years, driven by a sharp rise in new orders and resilient demand.

Sentiment was further boosted as the GST Council simplified the existing four tax slabs (5%, 12%, 18%, 28%) into a two-rate structure of 5% & 18% and proposed a special 40% slab for select luxury items such as high-end cars, tobacco, and cigarettes. Gains extended after the U.S. Federal Reserve delivered its first rate cut of the year in Sep 2025, citing recent weakness in the labor market. However, overall gains were capped amid lingering uncertainty over India–U.S. trade negotiations and continued foreign institutional investor outflows from domestic equities.

Varun Yadav

Varun Yadav is a Sub Editor at News18 Business Digital. He writes articles on markets, personal finance, technology, and more. He completed his post-graduation diploma in English Journalism from the Indian Inst…Read More

Varun Yadav is a Sub Editor at News18 Business Digital. He writes articles on markets, personal finance, technology, and more. He completed his post-graduation diploma in English Journalism from the Indian Inst… Read More

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Indian fertiliser companies are preparing to set up a urea manufacturing facility in Russia, a move that is likely to be announced during Russian President Vladimir Putin’s visit to India in December. This would be India’s first fertiliser venture in Russia.The plant will use Russia’s abundant ammonia and natural gas reserves, ensuring a stable supply of this key agricultural input and reducing India’s reliance on volatile global prices, according to a report by ET.State-owned Rashtriya Chemicals and Fertilisers (RCF) and National Fertilisers Ltd (NFL), along with government-backed Indian Potash Ltd (IPL), have signed a non-disclosure agreement (NDA) with Russian partners to begin planning the project, the report said.The plant is expected to produce over 2 million tonnes of urea annually. Negotiations are ongoing on land allocation, natural gas, ammonia pricing and transportation logistics.India depends largely on imports of raw materials like ammonia and natural gas for its domestic fertilizer production.The Russian facility is expected to shield India from future price shocks and supply disruptions. It will also strengthen economic ties between the two countries, which already collaborate in energy, defence and agribusiness.The project comes after India faced an acute fertiliser shortage during this year’s kharif (monsoon) season, when China temporarily halted exports of urea and other nutrients.The disruption forced India to seek supplies from other markets at higher costs, raising concerns about food production.Demand for fertilizers has gone up due to well-distributed monsoon rains. Consequently, nutrient-rich crops like maize are being grown by farmers.During the winter season, the need for urea increases even further for rabi crops such as wheat.In order to keep fertilisers accessible and affordable for farmers, they are regulated and subsidised in India, contributing to food security. The burden of government subsidies rises as global prices rise.The initial budget of Rs 1.68 lakh crore was increased to Rs 1.92 lakh crore for FY25 for the Department of Fertilisers. India’s domestic urea production hit a record 31.4 million tonnes in FY24.Despite these efforts, India still relies heavily on imports for raw materials and is the second-largest user as well as the third-largest producer of fertilizers globally.

Workers at a leading defence and aerospace company are set to go on strike in November in a dispute over pay.

Unite says more than 3000 workers at Leonardo UK’s facilities in Scotland and England will walk out after the company refused to improve its pay offer.

The company is involved in a number of defence projects, with its site in Edinburgh producing advanced radars for military aircraft.

Workers at Leonardo’s Edinburgh and Newcastle sites will strike between November 5 and 6, then again between November 10 and 18.

At the Yeovil, Luton and Basildon sites, workers will strike between November 5 and 6, then again between November 12 and 13.

Union officials said staff were refused a better deal after declining the initial offer of 3.2%, which the union said represents a real-terms pay cut.

Unite general secretary Sharon Graham said: “Our members are highly skilled and work on critical defence and aerospace systems, yet are being short-changed by a company making billions.

“Leonardo has had ample opportunity to do the right thing and make a decent offer that our members could have accepted. Instead, they have refused and will now see the anger of our members on the picket line outside their factories.

“This is a dispute entirely of their own making and our members will have the full support of Unite in their fight for decent pay.”

Leonardo UK has been approached for comment.