'If you see another 1000-point correction, people may start panicking.'
Certain foreign portfolio investors (FPIs), which operate as pooled investment vehicles (PIVs), may not be exempt from the additional disclosure mandates by the Securities and Exchange Board of India (Sebi) following an update in the standard operating procedures (SOPs) for custodians. An updated version of the SOPs has specified several conditions to be met for PIVs to benefit from the exemptions granted. These include no segregated portfolios, independent investment manager, and investors having pari-passu (equal) rights in the entity.
With India overtaking China in terms of weightage in the Morgan Stanley emerging markets IMI, Indian equities could see inflows of about $4.5 billion (Rs 37,000 crore), according to estimates. This week, Morgan Stanley announced that India has overtaken China in the MSCI Emerging Markets Investable Market Index (MSCI EM IMI). The weight of India in MSCI EM IMI stood at 22.27 per cent compared to 21.58 per cent of China.
Treasury gains helped ICICI Bank post a nearly 10 per cent increase in the consolidated net profit for the April-June quarter at Rs 11,696 crore on Saturday. Growth in the core income slowed for the country's second largest private sector lender, but the treasury operations helped it report a 14.62 per cent rise in its post-tax profit at Rs 11,059 crore on a standalone basis. The core net interest income (NII) growth came at a multi quarter low of 7.3 per cent to Rs 19,553 crore for the reporting quarter.
rediffGURU Vivek Lala answers your income tax and personal finance queries.
All investors should ideally have a 10 to 15 per cent allocation to gold. Whether they invest in gold ETFs or SGBs should depend on their investment horizon.
Electric two-wheeler company Ola Electric Mobility will float its initial public offering (IPO) on August 2, and a significant part of the proceeds will be used for capacity expansion of its cell manufacturing plant and revving up R&D. The initial share sale will conclude on August 6, and the bidding for anchor investors will open for a day on August 1, according to the red herring prospectus (RHP).
Mercedes-Benz India is looking at electric entry-level models to attract first-time luxury car buyers, as it sets eyes on another double-digit growth this year, its managing director and CEO Santosh Iyer said on Monday. The company, which launched all-electric entry SUV EQA 250 at an introductory price of Rs 66 lakh, has also introduced the new EQB 350 SUV (5-seater) priced at Rs 77.5 lakh and EQB 250+ SUV (7-seater) tagged at Rs 70.90 lakh (prices all India ex-showroom). It will also launch the EQS Maybach SUV and electrified G-Class models in India later this year.
The new asset class (NAC) proposed by the market regulator could see diverse product offerings with high-risk strategies across equity and debt if the mutual fund (MF) industry's recommendations are incorporated into the final regulations. While the Securities and Exchange Board of India (Sebi) has suggested relaxations in investment norms for NAC compared to traditional MFs, some fund houses are advocating for further relaxations in concentration norms, greater flexibility in leverage, and the ability to invest in securities currently outside the MF domain, such as unlisted debt papers and debentures, sources reveal.
'The last year's growth is a foretaste of things to come in the retail credit market.'
It is to be seen if SBI under Setty, who will have a three-year term, can ride the economic cycle to take SBI to new heights, navigating some of these challenges.
Both candidates have shifted from their traditional constituencies - Sadhotra from Marh and Sharma from Akhnoor - after these two segments were reserved for Scheduled Castes.
Adani group companies have reported a 13.7 per cent rise in cash reserve to Rs 45,895 crore in the first half of the current fiscal as earnings across the business rose while debt was almost unchanged. In the half-year credit performance report, Adani said while EBITDA rose to Rs 71,253 crore in April-September this fiscal from Rs 57,219 crore a year back, gross assets increased 6 per cent to about Rs 4.5 lakh crore. Gross debt was almost unchanged at Rs 2.26 lakh crore, but after considering cash reserves, the net debt at Rs 1.80 lakh crore was 3.6 per cent less than Rs 1.87 lakh crore in April-September 2022.
These are usually found among small and midcaps. It is not easy to find such stocks, especially after a strong bull market, discovers Debashis Basu.
An analysis by the Securities and Exchange Board of India (Sebi) has revealed that retail traders remain at the wrong end of the stick when it comes to equity derivatives trading. About 93 per cent of them incurred an average loss of Rs 2 lakh (per trader) during the last three financial years. The new report highlights an increase in the loss-making individual investors in futures and options (F&O) to 91.1 per cent in FY24 compared to 89 per cent in FY22.
The Securities and Exchange Board of India's (Sebi's) six-step plan to curb retail participation in speculative index derivatives may lead to a substantial drop in volumes - potentially by 30-40 per cent. These measures aim to reduce excessive speculation in the futures and options (F&O) segment, where daily turnover often exceeds Rs 500 trillion and retail investors end up on the losing side of the trade more often. Sebi has decided to increase the contract size from Rs 5 lakh to Rs 15 lakh, raising margin requirements and mandating the upfront collection of option premiums from buyers.
...'hum decide karenge kaun banega mukhyamantri. This decision is not to be taken in Mumbai.'
'Only 20 per cent of families in India buy cheese twice once a year.'
Multi-asset allocation funds emerged as the most popular option for MFs as they provided the needed flexibility.
'The overall market cycle is very positive.'
rediffGURU Ulhas Joshi answers your personal finance and mutual fund queries
'Many do not have robust business models, and their prospects of survival and long-term growth are poor.'
If false accusations are levelled against me, I will have no choice but to make audio-visual evidence public, Fadnavis said.
'IPOs have performed exceptionally well, with a notable increase in average ticket size from Rs 800 crore in the last financial year to around Rs 1,300 crore in this financial year.'
In June, Sensex went up 6.6% and Nifty 6.9%, their best monthly gains since December 2023.
Reliance Industries Ltd, India's most valuable company, on Friday reported a 5 per cent drop in its June quarter net profit as lower fuel cracks and petrochemical margins outdid gains in telecom and retail businesses. The oil-to-retail-to-telecom conglomerate's consolidated net profit was at Rs 15,138 crore, or Rs 22.37 per share, in April-June -- the first quarter of the current 2023-24 fiscal year -- compared to Rs 16,011 crore, or Rs 23.66 a share, earnings a year back, according to a company's statement.
Mutual funds are loading up on information technology (IT) stocks on improved valuations and low downside risk after a double-digit correction in top companies like Infosys and Wipro. IT stocks were MFs' top sectoral buys in April when they invested a net of Rs 2,100 crore. In the first four months of 2023, the net investments in IT amounted to Rs 9,500 crore, shows an analysis by ICICI Securities.
'A positive momentum in the southern market as far as leasing, absorption, and rentals are concerned.'
A day after facing massive erosion from their wealth, equity investors became richer by Rs 13.22 lakh crore on Wednesday with markets making a strong comeback. The 30-share BSE Sensex jumped 2,303.19 points, or 3.20 per cent, to settle at 74,382.24. During the day, it rallied 2,455.77 points, or 3.40 per cent, to 74,534.82.
The Union Finance Ministry on Friday announced key amendments to foreign exchange (forex) regulations, including mandating government approvals for all investments originating from countries that share land borders with India. The latest amendments also seek to simplify cross-border share swaps and streamline key definitions, such as "control". The updated regulations have aligned the treatment of downstream investments made by overseas citizen of India (OCI)-owned entities with those owned by non-resident Indians (NRIs) on a non-repatriation basis.
As many as 31 mainboard IPOs raised a cumulative Rs 26,272 crore in this period, according to Prime Database. During the April-September 2007 bull run, 48 IPOs totalling Rs 21,243 crore were launched. The number of deals in H1FY24 was 2.2 times that of the same period of the last fiscal year, but the amount raised was 26 per cent lower.
What is digital house arrest? It is a tactic cybercriminals use to confine victims to their homes and scam them, explains Tamal Bandyopadhyay.
Kunal Shah has funded over 266 startups including Razorpay, Snapdeal, Zetwork, BlueSmart, Unacademy, Bliss Club, and Spinny, amongst others.
The management of Tata Communications presented its product-to-platform strategy and explained how it hopes to grow its new products and portfolios, and geographies. The management targets doubling of data revenue by FY27 to ~28,000 crore (implied 18 per cent annual revenue growth). The DPS (Digital Platform & Services) segment is likely to contribute over 60 per cent of data revenue.
Follow this 15 x 15 x 15 rule to become a crorepati without taking big risks. Ramalingam Kalirajan explains how
Mumbai-based developers Macrotech Developers (Lodha) and Oberoi Realty have emerged as top gainers among largecap realty stocks over the past month, with gains ranging from 29 per cent to 33 per cent. Strong ongoing sales trends in Mumbai's core market, record bookings in the January-March quarter, and healthy guidance for 2024-25 (FY25) have propelled these companies, which derive the majority of their revenues from India's financial capital.
Mutual funds (MFs) turned net sellers of equities in April amid a run up in stock prices on sustained inflows from foreign portfolio investors (FPI). The benchmark indices, Sensex and Nifty50, logged their biggest monthly advance since November last year, gaining 3.6 per cent and 4.1 per cent last month. Data from the Securities and Exchange Board of India (Sebi) shows that MFs sold equities worth over Rs 5,100 crore in April, the highest since February 2021.
Hyundai Motor India on Thursday said it will invest Rs 20,000 crore in a phased manner in Tamil Nadu over the next ten years to make further inroads into electric vehicles and modernisation of vehicle platforms. The automaker will invest in phases starting in 2023 till 2032. "Hyundai has been one of the largest manufacturers and consistent investors in Tamil Nadu.
rediffGURU and financial planning expert Colonel Sanjeev Govila (retd) answers your personal finance-related questions.
Nikunj Saraf, Vice President Choice Wealth, answers your queries
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