State-owned Life Insurance Corporation (LIC) is not keen on a composite license but it is looking to buy less than 50 per cent stake in a standalone health insurance company to enter the health insurance segment such that they have a say in the management of the company, without having to run the company, sources in the know said. "LIC doesn't need a composite licence. "Even if it is introduced, they will not opt for it.
The crisis that has threatened the global economy since August 2007 has unfolded in an accelerating succession of phases.
India's thriving mutual fund (MF) industry is drawing interest from several firms, with multiple applications submitted to the Securities and Exchange Board of India (Sebi) for asset management company (AMC) licences.
'It took us 75 years to reach a per capita income of $2,730.' 'According to IMF projections, it will take only five years to add another $2,000.'
Benchmark Sensex closed above the 85,000 level for the first time while Nifty scaled the 26,000 peak at close on Wednesday as fag-end buying in banking and power shares helped stock markets recoup early losses. After a see-saw trade during the day, the 30-share BSE Sensex rose by 255.83 points or 0.30 per cent to settle at an all-time high of 85,169.87. During the day, it surged 333.38 points or 0.39 per cent to hit a record intra-day peak of 85,247.42.
India, best-performing among emerging markets in the first four months of 2017, has since ceded this position to South Korea.
'The problem is that the bubble may not only be in valuations, but also in investors' minds.'
Global head of equity strategy at Jefferies, Christopher Wood, has cut his exposure to Indian equities by one percentage point in the Asia-Pacific ex-Japan relative-return portfolio, and Australia and Malaysia by half a percentage point each in favour of China, which has seen a hike in exposure by two percentage points. The rally in China has been fast-forwarded by the approach of a seven-day holiday with the CSI 300 Index up 8.5 per cent on Monday, and 25.1 per cent in five trading days, he said.
The narrative on China is changing post the recent stimulus measures, and it will be hard for global investors to ignore the Chinese markets.
International Monetary Fund has warned emerging markets, which have so far weathered the ongoing financial crisis, that they may not be completely insulated, while noting that risks to India's financial sector appeared manageable. The top international organisation has raised the assessment of market risks for the emerging markets including on capital flows. It said that despite generally strong external positions, some concerns have arisen about dollar funding in Asia.
As among the fastest growing economies of the world, India, China and Brazil not only have developed a new level of influence at the global level, but are expected to take increased level of responsibilities to smoothen world trade, an official US report has said.
Equity benchmark indices Sensex and Nifty settled higher on Thursday, powered by a rally in banking and power stocks amid a largely firm trend in global markets. The stock markets mostly traded range-bound in the absence of any major trigger and persistent foreign capital outflows, traders said. The 30-share BSE Sensex rose 144.31 points, or 0.18 per cent, to settle at 81,611.41.
Capital markets are becoming more prominent in India's growth story, with an expanding share in capital formation and investment landscape on the back of technology, innovation and digitisation, according to the Economic Survey 2023-24 tabled in Parliament on Monday. Further, Indian markets are resilient to global geo-political and economic shocks, it added. "Despite heightened geo-political risks, rising interest rates and volatile commodity prices, Indian capital markets have been one of the best performing among emerging markets in FY24," the Economic Survey said.
India's second-largest passenger vehicles firm will be valued at Rs 1.59 trillion at the top-end of the price band of Rs 1,865-Rs 1,960.
The banks says that valuations are reasonable.
Emerging market equity funds struggled to attract fresh money last week and absorbed a mere net $ 265 million on account of outflows in commodity fund, says a EPFR report.
They believe that long-term story is intact.
'India is one of the most important and promising emerging markets in the world, and represents a tremendous opportunity for US firms to expand their output of goods and services.'
'While investors need to be prepared for making some losses, they should not lose big money chasing euphoria amid fear of missing out.'
Foreign investors have pulled out a massive Rs 22,000 crore from Indian equities so far this month, due to uncertainty surrounding the outcome of the Lok Sabha elections and outperformance of Chinese markets.
Bumper liquidity as a result of global central bank stimulus measures should prevent a sharper downturn.
India has emerged as the world's most attractive destination for mass merchant and food retailing, maintaining its 2005 position in an annual study of retail investment attractiveness among 30 emerging markets.\n\n
'We have seen a host of businesses across sectors generate economic value and wealth for investors.'
The three day MPC meeting began on Monday and the decision will be announced on Wednesday by RBI Governor Shaktikanta Das.
The financial services industry, especially banking, is in the midst of massive upgrade of existing IT set ups to cope with future regulatory and customer-driven online and mobile services, said Vijay Sharma, vice president & head domain & industry advisory services for banking, financial services and insurance.
Further outperformance hinges on pickup in industrial activity, buying by local investors.
Higher growth justifies current run-up, say experts.
Emerging markets facing 5th year of slow growth: World Bank.
According to HSBC's 'Climate Confidence Monitor', one in three people in Vietnam, India and China believe that climate change can be halted, compared to just one in twenty in developed economies such as France and the UK.
Bumper liquidity as a result of global central bank stimulus measures should prevent a sharper downturn.
Christine Lagarde warned of a repeat of high market volatility.
Investors globally pulled out more than $3 billion from equity funds focused on Emerging markets including India in a week amid concerns over the US Federal Reserve's plan of curtailing its stimulus drive starting later this year.
Shares of auto component major, Samvardhana Motherson International, has gained 11.5 per cent on the bourses after the company approved the qualified institutions placement (QIP) issue and announced the calculation methodology for its compulsorily convertible debentures, or CCDs, into equity shares. Analysts cite strong investor response to the issue that has kept the sentiment positive for the stock. Brokerages, however, have a mixed view on the outlook for the auto parts supplier.
Let's take a look at some of the biggest emerging markets for the retail sector.
Apart from physical stores, the company operates 2,700 digital touch points in the form of web pages, which is gaining good traction from tier-II and III centres.
Manish Tiwary plans to take up a new role at another firm.
With the Indian stock markets clawing back after the Monday meltdown, an investment advisers' survey says that global emerging markets are predicted to be the best performers in the next three years.
'India's fundamentals are a lot better (than those of other emerging market economies).' 'India will suffer (witness a fall in its stock market) what I call the second order effect.' 'And the second order will happen when these funds (belonging to macro and hedge fund investors and which have leveraged Japanese yen-carry trades), because they lose money elsewhere as lot of their positions were financed by borrowing Japanese yen, will have to book profits in investment destinations where they are making money, including in markets like India.' 'They (these investors) will have to effectively sell in countries like India and which is the consequence (the crash in equity markets) that Indian markets might see.'
ITC, State Bank of India, HCL Technologies and IndusInd Bank were the other big laggards. NTPC, UltraTech Cement, HDFC Bank and Mahindra & Mahindra were among the gainers.
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