Share markets in India are presently trading on a positive note. The BSE Sensex is trading up by 148 points, while the NSE Nifty is trading up by 43 points.

The BSE Mid Cap index is trading up by 0.4%, while the BSE Small Cap index is trading up by 0.7%.

Sectoral indices are trading mixed with stocks in the finance sector and banking sector witnessing buying interest, while energy stocks are witnessing selling pressure.

Gold Prices are currently trading down by 0.9% at Rs 45,773.

The rupee is trading at Rs 76.39 against the US$.

As the Coronavirus pandemic continues to haunt the global financial markets, the rupee has been hit badly.

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Moving on, market participants are tracking Axis Bank share price and Atul share price as these companies are scheduled to announce their March quarter results (Q4FY20) later today.

In news from the mutual funds space, Franklin Templeton Mutual Fund on Monday said it is committed to returning investor money at the earliest.

The asset manager shut down its six schemes last week on Thursday. Reportedly, the six debt schemes had assets under management of over Rs 250 billion.

It said that winding up of the schemes does not mean that investor money is lost.

The fund has also marked down its Fund-of-Fund (FoF) exposure by 50% to the debt schemes.

In other news, as per an article in The Economic Times, Franklin Templeton Mutual Fund was pushing distributors to sell the six debt schemes just before the fund house announced the decision on April 23.

The asset manager had launched a sales campaign for distributors that required them to push Systematic Transfer Plans (STPs) - a system that involves a regular shift of money from a debt scheme to mostly an equity scheme - in these products among others for additional commissions.

The report stated that the fund house promised to pay an additional trail brokerage fee of 10 basis points to distributors who mobilised money between April 1 and September 30.

Yesterday, the Reserve Bank of India (RBI) announced Rs 500 billion liquidity support for mutual funds (MFs).

Under this special liquidity facility scheme, the RBI will conduct repo operations of 90 days tenor at the fixed repo rate. The facility will be on-tap and open-ended, and banks can submit their bids to avail funding on any day from Monday to Friday.

The scheme will be available from 27 April till 11 May.

The above move comes after Franklin Templeton mutual fund decided to shut down its debt schemes.

New High for Mutual Fund AUM

Moving on, Just Dial share price is in focus today. Stock of the company rallied 10% today after the company announced that it will consider share buyback proposal on Thursday.

In an exchange filing on Monday after market hours, the company said, "A meeting of the board of directors of Just Dial will be held on Thursday, April 30, 2020 to inter-alia consider and approve the proposal for buy-back of fully paid up equity shares of the company and matters necessary and incidental thereto."

Last week, the markets regulator had eased the 12-month cooling-off period that companies have to observe between buybacks and equity fundraising.

A company is restricted from raising further capital for one year from the expiry of the buyback period.

The market regulator said that "to enable quicker access to capital, it has been decided to temporarily relax the period of restriction provided in regulation 24(i)(f) of the buyback regulations. Accordingly, the words "one year" shall be read as "six months" in the said regulation."

Many companies have launched share buybacks amid a sharp fall in their stock prices. Some of these companies include Motilal Oswal Financial Services, Delta Corp, Dalmia Bharat, and Emami.

Speaking of buybacks, as a shareholder in cash rich companies, you should not only be wary of expensive buybacks. But if possible use it to your advantage to rake in some cash.