Top headlines: MFs log Rs 19,705-cr net inflow in Feb; Bitcoin tops $42,000

Business Standard brings you the top headlines on Wednesday

Hindustan Unilever announces key changes to management committee

FMCG major Hindustan Unilever on Wednesday said it has appointed Madhusudhan Rao and Deepak Subramanian to its management committee.

Rao has been appointed as Executive Director, Beauty & Wellbeing and Personal Care, while Subramanian has been named as Executive Director, Home Care.

Rao takes over from Priya Nair, who will move into her new global role as Chief Marketing Officer for Beauty & Wellbeing. Read more

Equity MFs log Rs 19,705-cr net inflow in Feb amid volatile stock market

Equity mutual funds attracted a net sum of Rs 19,705 crore in February, making it the 12th consecutive monthly net inflow, amid a highly volatile stock market environment due to the current geopolitical situation.

In comparison, equity mutual funds saw a net inflow of Rs 14,888 crore in January and Rs 25,077 crore in December, data from the Association of Mutual Funds in India (Amfi) showed on Wednesday. Read more

Bitcoin tops $42,000 as Yellen lauds 'historic' crypto overhaul

Bitcoin jumped above $42,000 amid a sharp rally in digital tokens, spurred by optimism about a sweeping U.S. overhaul of crypto oversight that Treasury Secretary Janet Yellen called “historic.”

The largest cryptocurrency rose as much as 10% to $42,427, its highest level since March 2. Ether climbed 8% while so-called privacy coins like Monero posted large gains. The crypto advance came as a broad risk-on rally embraced European stocks. Read more

CBI Court sends former NSE COO Anand Subramanian to 14-day judicial custody

Delhi's Rouse Avenue Court on wednesday remanded Anand Subramanian, the ex Group Operating Officer of the National Stock Exchange (NSE), to fourteen days judicial custody, in connection with the co-location scam case.

Subramanian was arrested by the CBI on February 24. The CBI official produced him before the court of Sanjeev Aggarwal on Wednesday. Read more