With the listing of Reliance gold ETF on the National Stock Exchange (NSE) on Wednesday, four fund houses (Benchmark, UTI Mutual Fund and Kotak Mutual Fund being the other three) currently offer gold ETFs to Indian investors.
Domestic fund houses forge pacts with foreign peers to mop up $7 billion.
Spectacular returns by the recent initial public offerings on listing day are prompting a growing number of retail investors and even high net worth investors to borrow funds at a costly 16 to 17 per cent (for two or three weeks) to bid for IPO shares.
Less than three weeks after the curbs on participatory notes, overseas investors are rushing to invest in the booming Indian stock markets directly by applying for Foreign Institutional Investor licences.
Credit Agricol (CA), the second-largest French bank, is all set to enter the Indian insurance and asset management business.US-based middle market focused investment bank Jefferies Group, which opened its representative office in New Delhi last month, plans to enter the institutional brokerage and asset management business in India.
With the rupee going from strength to strength and attrition a continuing concern for Indian business process outsourcing companies, the new poster child of private equity investors is witnessing adjustments in valuations in the changed scenario.
Mutual funds are all set to capture the buoyancy in the energy sector. The latest to join the bandwagon is Sundaram BNP Paribas Mutual Fund, which is coming out with a three-year, closed-ended new fund offering 'The Energy Opportunities Fund'. The fund will invest in equity and equity-related instruments of companies focussed on the energy space or those directly or indirectly benefiting from it.
Over 270 applications from foreign institutional investors (FIIs) are awaiting the Securities and Exchange Board of India's (Sebi) clearance as the debate on the speedy clearance of registrations by the capital market regulator rages on. In fact, during the last one year, the Sebi has cleared a total of 141 applications, an average of about 12 registrations a month.
The capital market regulator would soon write to the Reserve Bank of India to allow repos in corporate bonds, which were expected to boost the liquidity in the corporate debt market, said sources. In a repo trade, a market participant pledges a corporate paper in exchange for funds for a specific period and at a rate determined by the market.
The NSE, along with financial institutions like IL&FS and IDBI, has proposed to set up a special exchange.
The Securities and Exchange Board of India (Sebi) is looking at reducing the fees of all mutual fund schemes - equity funds (open- and close-ended), debt funds, index funds and even funds of funds (or FoFs, mutual funds that invest in mutual funds).
An interview with Sebi chief M Damodaran.
Shares list at 21% premium over offer price of Rs 825.
The Securities and Exchange Board of India on Tuesday approved the open offer of Vedanta Resources for Sesa Goa.
The Allianz Group, the German financial services powerhouse, is planning to foray into the booming asset management business in India.
Market experts see interest in Indian equities given the strong economic growth, robust earnings and rising domestic consumption.
The Reserve Bank of India has issued a fresh directive to banks having less than the required capital to address ownership issues and take steps to increase their net worth to a minimum of Rs 300 crore (Rs 3 billion).
Islamic India, a Euro 20 million fund launched in Germany in January this year, is set to make its debut in the Indian equity market in a couple of weeks and expects a five-fold growth in its corpus within a year
India topped the global chart for total amount raised through American depository receipts (ADRs) this year (January-July), beating China and Taiwan.
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