From March 3, investors in India will be able to trade in select US stocks through the NSE International Exchange (NSE IFSC), a wholly owned subsidiary of the National Stock Exchange (NSE). Investors can invest in NSE IFSC receipts on US stocks, which will be in the form of unsponsored depository receipts (DRs). For a start, this will include DRs of 50 US stocks such as Apple, Alphabet, Amazon, Tesla, Microsoft, Morgan Stanley, Nike, P&G, Coca-Cola, and Exxon Mobil. Indian retail investors will be able to transact on the NSE IFSC platform under the Liberalised Remittance Scheme (LRS) limits prescribed by the Reserve Bank of India (RBI), which currently stand at $250,000 per year.
RBI Governor Raghuram Rajan, who today surprised markets with a rate hike, defended the move saying a rate cut would not have impacted either banks or borrowers and that bringing down retail prices is the key to sustainable growth.
Such exercises are done by the central bank when the proceeds from sale of short-term securities are used to buy long-term government securities or bonds in a bid to bring down interest rates on long-term securities.
Customers need to weigh whether they will be better off selling their mutual fund holdings or taking a loan against it.
While seniors seeking a regular income should switch to debt funds from balanced funds, younger investors should invest in balanced funds after understanding their risks.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
MFs have garnered record assets in the past one year, led by increased investor participation through SIPs and robust returns in mid-cap schemes.
A substantial fluctuation is likely because for a long period gold has moved in a narrow range of $ 50-60 and at higher levels short positions were built.
Arbitrage schemes can give investors better post-tax returns than debt funds.
Senior officials in the MF industry say while the finance ministry and regulators communicate regularly, this is one of the very few instances in many years where an issue between the two has come out into the open.
The 'P-3' ratings suggest acceptable ability to repay short-term obligations.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
The grandfathering clause and set-off provisions can be used to reduce the tax payable on sale of bonus shares, says Arvind A Rao.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
India's first unicorn Zomato will make its stock market debut on Friday, marking a historic moment for the domestic capital market. As per initial schedule, Zomato's listing was to take place on July 27. However, investment banks managed to complete the share allotment and listing formalities ahead of the deadline. Under the Sebi framework, the timeline between IPO closing and listing has to be six working days. Zomato's IPO had closed on July 16.
Booking one's loss will help investors in these trying times, says Amar Pandit
SBI has twice hiked interest rates on fixed deposits within a month, but an investor still gets better returns at the post office.
The report has identified 29 instances where it appears that the loans disbursed to borrowers were in turn utilised by their group companies to repay the existing debt obligations with IL&FS Financial Services Limited.
News of all that's transpired on and off the football field
Why settle for $400-500 million when you can make a billion or even more? That, in a nutshell, is why Krishna Kumar, 43, and Kashyap Dalal, 40, co-founders of Bengaluru-based edtech firm Simplilearn, one of the big players in the segment, sold a 51 per cent stake to Blackstone instead of selling 100 per cent as close competitor and rival Great Learning chose to do.
Future Retail on Saturday said it has missed the due date for payment of Rs 3,494.56 crore to banks and lenders as it could not sell assets due to its ongoing litigation with amazon, impacting its monetisation plans. Future Retail had last year entered into a one-time restructuring (OTR) scheme for COVID-19 hit companies with a consortium of banks and lenders and was to discharge "an aggregate amount of Rs 3,494.56 crore" on or before December 31, 2021. Kishore Biyani-led Future group firm would be "co-operating for completing the monetisation of the specified business within next 30 days" as per directions of the banks to resolve the current situation, said a regulatory filing by Future Retail.
'It is just an excuse to say that the Centre has run out of money.' 'Pruning these schemes would mean hard time for the people of India.'
The global recovery is expected to be asynchronous and divergent between advanced and emerging market economies, the IMF said on Tuesday, noting that policymakers should take early action and tighten selected macroprudential policy tools while avoiding a broad tightening of financial conditions. "Extraordinary policy measures have eased financial conditions and supported the economy, helping to contain financial stability risks," the International Monetary Fund (IMF) said in its Global Financial Stability report released ahead of the Spring meeting of the global lender and the World Bank. However, actions taken during the pandemic may have unintended consequences such as stretched valuations and rising financial vulnerabilities, it said.
As on March 31, 2019, while the promoter group's stake, including individual promoter shareholders as well as group investment firms, stood at 42.71 per cent, it fell to 38.39 per cent on Tuesday.
'People are doing a lot of trading.' 'Short-term euphoria can be seen.' 'Retail participation is best through MFs and PMS.'
Invest 5 to 10 per cent in a banking sector fund. Ensure that mutual fund's portfolio includes all three players -- private sector banks, public sector banks and NBFCs.
also made a case for the need to create a self-sufficiency fund for innovation, construction and manufacturing clusters to make use of the emerging opportunities in the wake of disruption in global supply chain.
After selling dollars for the past few months, the Reserve Bank of India (RBI) may take a hands-off approach before its annual account closing by not trying to prop up the rupee as geopolitical tensions show signs of stabilising with global crude oil prices easing from its $140 peak. The central bank was a net buyer of dollars between April and September, and then turned a net seller in the following months, the data released by the RBI showed. The RBI continued to be a net buyer of $36.6 billion in this fiscal year - between April and January. In 2020-21, it purchased $68 billion on a net basis.
India's top fuel retailers IOC, BPCL and HPCL together lost around $2.25 billion (Rs 19,000 crore) in revenue for keeping petrol and diesel prices on hold during elections in five states, including Uttar Pradesh, Moody's Investors Services said on Thursday. State fuel retailers did not revise petrol and diesel rates for a record 137 days despite prices of crude oil (raw material for producing fuel) rising to $120 per barrel compared to around $82 in early November when the hiatus began. "Based on current market prices, the oil marketing companies are currently incurring a revenue loss of around $25 (over Rs 1,900) per barrel and $24 per barrel on sale of petrol and diesel, respectively," Moody's said in a report.
'Indices will remain range bound in 2022 as earnings catch up with the current multiples.'
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
The good news is investors can make 5 to 6 switches during a year among funds depending on the insurance companies without incurring any costs.
Here's how you can ensure you have enough in your kitty and be in command of your finances.
'From a retail investor's perspective, therefore, it is essential not to get swayed by the short-term correction in the equity market and macro noise, and stay the course with their long-term financial plans,' notes Ashwin Patni.
Bharti recorded $5 billion liability for past-due AGR fees, but is still completing its self-assessment to determine the final amount.
The financials of six privately held companies associated with Siddhartha show an increase in debt and falling ability to meet short-term obligations.
'We remain positive on technology, private sector financials, gas, infrastructure, and export-oriented plays.'
The governing body of athletics has suspended Olympic qualification until December due to the coronavirus outbreak, which has forced the Tokyo Games to be postponed until 2021, it said on Tuesday. The total qualification period, which started in 2019, will be four months longer than it was originally. Meanwhile, results would continue to be recorded for statistical purposes, including for world records.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
If a house is sold and the proceeds are used to buy another, whoever contributed to the purchase of the first house can claim exemption on capital gains tax
