The Indian financial services space seems to be in a sweet spot as foreign investors have made a net investment of Rs 14,205 crore ($2.1 billion) in the sector in November amid strong credit growth and manageable non-performing loan portfolio. The investment comes following a net withdrawal of Rs 4,686 crore from financial services stocks in October on account of profit booking. Overall, foreign portfolio investors (FPIs) have made a net investment of Rs 36,238 crore in the country's equity markets in November.
'What my Labour government will seek with India is a relationship based on our shared values of democracy and aspiration. That will seek a free trade agreement (FTA), we share that ambition, but also a new strategic partnership for global security, climate security, economic security'
'If their allocation to certain segments have become high due to strong returns over the past three-four years, they should rebalance their portfolios and bring them in line with their long-term asset allocation.'
Mathai took the office on Monday. He succeeds Jaimini Bhagwati, who retired recently.
Gen Dwivedi, who has vast operational experience along the frontiers with China and Pakistan, was serving as the Vice Chief of the Army.
From the Sensex basket, Sun Pharma, Maruti, Power Grid, Titan, JSW Steel, Tech Mahindra, Larsen & Toubro and State Bank of India were the major laggards. Tata Motors, Tata Consultancy Services and Nestle were the gainers.
Veteran Sharath Kamal and world no. 24 Manika Batra will lead the Indian men's and women's squads respectively at the Paris Games, where the country will make its Olympic debut in team events.
Vijay Keshav Gokhale's tenure as foreign secretary promises to guide India's external affairs along paths never taken before, says K P Nayar.
The government may roll out a new foreign trade policy (FTP) of a shorter term of two-three years in a bid to keep pace with the fast-evolving scenarios in international trade which have been triggered by recent disruptions, such as the pandemic and the Russia-Ukraine war. An FTP is an elaborate policy guideline and strategy to promote the export of goods and services, with a duration of five years usually. The existing policy came into force on April 1, 2015, and was valid for five years, before multiple extensions.
The compulsion behind India and Japan to deepen security cooperation is in response to China's growing political and economic clout and its assertive behaviour in disputed areas. This has been the key driver for bringing both India and Japan closer in the domain of security cooperation, explains Dr Rajaram Panda.
From the Sensex basket, JSW Steel, Tata Steel, UltraTech Cement, NTPC, Larsen & Toubro and HDFC Bank were the major gainers. Titan, Nestle, Bharti Airtel and IndusInd Bank were among the laggards.
Titan Company, Axis Bank, NTPC, Tata Motors, ITC, Tech Mahindra, Bajaj Finserv, ICICI Bank, HDFC Bank and Bajaj Finance were the other laggards. Bharti Airtel, Power Grid, Infosys and Larsen & Toubro were among the gainers.
The current spurt in the stock market is on account of strong fundamentals and robust corporate earnings and retail investors can look for buying opportunities to accumulate quality stocks, experts said.
S K Singh stood tall and made his voice heard as a diplomat and as a politician.
Global rating agency Moody's on Monday raised India's growth forecast for 2024 calendar year to 6.8 per cent, from 6.1 per cent estimated earlier, on the back of 'stronger-than-expected' economic data of 2023 and fading global economic headwinds. India's real GDP expanded 8.4 per cent year-over-year in the fourth quarter of calendar year 2023, resulting in a 7.7 per cent growth for full-year 2023. Capital spending by the government and strong manufacturing activity have meaningfully contributed to the robust growth outcomes in 2023, Moody's Investors Service said.
EAM Jaishankar's mission is aimed at strengthening India's strategic autonomy in a complex international environment, observes Ambassador M K Bhadrakumar.
A couple of days before the grand spectacle on Kartavya Path on Republic Day, a full dress rehearsal of what will be for sure a magnificent parade.
In the last 12 months, over 7,500 Indians have applied for a resident permit.
Delhi-based Jasmeet Singh Sandhu, an Indian Revenue Service officer, has secured third position in the test.
Prime Minister Manmohan Singh on Wednesday presenting the S K Singh Award for recognising excellence in the Indian Foreign Service, to Tanmaya Lal
India and Russia on Tuesday set a target of $100 billion in annual trade volume by 2030 and vowed to develop a robust bilateral payment settlement mechanism using national currencies. The two sides also inked a total of nine agreements to further broadbase cooperation in a range of areas including in the economic domain following summit talks between Prime Minister Narendra Modi and Russian President Vladimir Putin.
Stories are legion about the Karatmeter's use at that time. Hundreds of people standing in queue for testing, customers breaking down after discovering the actual purity of their jewellery and then becoming irate about the jeweller who had gypped them, the local jewellery industry leaning heavily on the Tanishq franchisees to desist from using it, some jewellers even threatening violent action.
Here is an explainer on the functioning of the seven-year-old body.
Sir Osborne Smith was the first governor of the Reserve Bank, serving from April 1, 1935, to June 30, 1937.
Foreign Portfolio Investors (FPIs) continued their buying spree and poured close to Rs 4,800 crore in the Indian equity markets in the first week of January driven by confidence in the country's robust economic fundamentals. Additionally, they injected Rs 4,000 crore in the debt market during the period under review, data with the depositories showed. With expectations of a prolonged decline in US interest rates in 2024, there is an anticipation that FPIs will likely escalate their purchase, particularly in the initial months of the New Year leading up to the general elections, V K Vijayakumar, chief investment strategist at Geojit Financial Services, said.
A potential risk to the rupee's appreciation trajectory lies in the event of a delay in the Federal Reserve's rate cut cycle, particularly if core inflation in the US remains elevated.
IndiGo share price today: IndiGo share price fell as much as 4.8 per cent to a low of Rs 4,275 per share on the BSE in Monday's intraday trade as investors booked profit in the stock post a its April-June quarter (Q1) results for financial year 2024-25 (FY25). The stock ended 1.36 per cent lower at Rs 4,430 as against a 23-points gain in the benchmark BSE Sensex. The selling also got exacerbated as the management commentary, post Q1FY25 results, highlighted that inflationary pressure could likely dent July-September (Q2FY25) performance.
The much-talked-about sale of Ambuja Cement and ACC by Holcim Group will see the single-biggest outflow of foreign capital from the country if the two cement firms are acquired by Indian investors. The deal, valued at nearly $10.35 billion, will put in the shade Cairn Energy Plc's exit from India in 2010, when it sold Cairn India to Vedanta Group for $4.48 billion. According to various reports, big business groups such as AV Birla, JSW Group, and Adani Group are in the fray to acquire Holcim's assets in India.
The government has been in discussions to promote such international financial services centres within India as alternatives to places like Singapore.
'India needs many more job creators, both in manufacturing and services, to make it big.' 'For that, the red carpet must be rolled out fully and for all investors without holding back,' suggests Nivedita Mookerji.
'You treat me like eye candy and I will leave you like you're a wrapper.'
From the Sensex basket, Titan, Reliance Industries, Asian Paints, Tech Mahindra, IndusInd Bank, UltraTech Cement, Wipro and ITC were the major laggards. ICICI Bank, Infosys, Bajaj Finserv, Tata Steel, Axis Bank, Bajaj Finance, Nestle and Mahindra & Mahindra were among the major gainers.
A fresh wave of foreign business is rolling in for India's software industry, where low salary costs and a skilled, English-speaking workforce have made the country a world leader.
While it makes economic sense for countries like Thailand, where the English-speaking population is very small, to engage teachers from India to teach the language in that country rather than from any other part of the world, it is often argued that if it is a question of learning English, it would be better to go for those from the US, Britain or Australia even if this means more money.
Riding on a bull run, equity investors became richer by Rs 128.77 lakh crore in the 2023-24 fiscal, driven by robust fundamentals of the Indian economy, increased investment inflows and promising corporate earnings. After a muted performance in 2022-23, equity markets made a remarkable recovery in FY24, giving handsome returns to investors. The 30-share BSE Sensex climbed 14,659.83 points or 24.85 per cent in 2023-24.
With the government clearing the decks for direct listing at the Gujarat International Finance Tec-City (GIFT City) International Financial Services Centre (IFSC), issuers will wait for the ecosystem to develop further before firming up their listing plans. In the meantime, most companies may continue to prefer listing in the onshore market, even as the new avenue provides key benefits such as tax waivers and reduced foreign exchange risk. Sources said that a few key things need to be ironed out further.
Had you invested Rs 10,000 each in JSW Steel, Titan Company and Bajaj Finance 20 years ago, when they were just penny stocks (trading below Rs 10), you would have become a millionaire by now.
According to the proposed legislation, 'the central government may, by notification, empower any officer to intercept, open or detain any item in the interest of the security of the state, friendly relations with foreign states, public order, emergency or public safety, or upon the occurrence of any contravention of any of the provisions of any law for the time being in force'.
Kamala Harris used her forceful presidential acceptance speech to present herself as a leader who could unite the country to chart a 'new way forward' and warned Americans of 'extremely serious' consequences of putting her Republican rival Donald Trump back in the White House.
With response tepid so far from domestic investors, these funds might soon approach FIPB for approvals.
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