Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
Paytm's Rs 18,300 crore IPO was oversubscribed 1.89 times on the last day of India's biggest share sale on Wednesday, making it one of the country's most valued companies. The initial public offering of Paytm's parent company One97 Communications Ltd received bids for 9.14 crore equity shares against the offer size of 4.83 crore shares, according to information available from stock exchanges. While the portion set aside for retail investors was oversubscribed early, institutional buyers including FIIs flooded the share sale with offers on Wednesday, seeking 2.79 times the number of shares reserved for them.
The levy of retrospective tax on the UK's Cairn Energy Plc is a tale of bizarre twists and turns that saw its attached shares being sold in May 2018 amid the passing of the baton from a full-time finance minister to interim one and the talks at the highest level to resolve the dispute, to claims that levy of back taxes was a result of an investigation into Panama Papers leak. The government late last month refunded about Rs 7,900 crore it had collected from selling residual shares of the British firm in its erstwhile India unit, seizing dividend and withholding tax refunds, to settle an eight-year-old dispute that had tarred the country's reputation as an investment destination. But, this did not come about easily. For seven years, the establishment vehemently justified in courts and outside seeking of Rs 10,247 crore in back taxes plus interest and penalty from a firm that gave India its biggest onshore oil discovery.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
The Indian market is a bull market and the current weakening is merely a correction, says Apoorva Shah, executive vice president & fund manager (equity), DSP BlackRock Mutual Fund.
The meeting with foreign investors assumes significance as the government is undertaking host of reform initiatives to attract investment.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
As per a PMO statement, Modi told the investors that "he believes in a fair, predictable and consistent tax system
An analysis of how DSP BlackRock Micro Cap fund has performed in the last five years
Despite slowing down, China and India continue to contribute more than half of the world's economic growth, a new report by an investment management and advisory services firm has claimed.
Exodus of top managers an unintended side effect of roaring MF industry
Anup Maheshwari, executive vice-president and head of equities & corporate strategy, DSP BlackRock, says the long-term attractiveness of investing in India remains intact.
Snapdeal has a number of shareholders including Ontario Teachers' Pension Plan, PremjiInvest, Ratan Tata, Foxconn, Temasek and BlackRock, among others.
Buying units of international feeder funds is no different from buying any mutual fund unit.
UK's Cairn Energy Plc plans to bring lawsuits in the US and other countries to pierce the corporate veil between the Indian government and its owned companies such as in oil and gas, shipping, airline and banking sectors, to seize their overseas assets to recover $1.2 billion ordered by an international arbitration tribunal. The firm has moved courts in the US, UK, Canada, France, Singapore, the Netherlands and three other countries to register the December 2020 arbitration tribunal ruling that overturned the Indian government's Rs 10,247 crore demand in back taxes and ordered New Delhi to return $1.2 billion in value of shares it had sold, dividends seized and tax refunds withheld to recover the tax demand. With the government so far refusing to honour the arbitration award and instead choosing to challenge it, Cairn is looking to enforce it by seizing overseas Indian assets, Dennis Hranitzky, head of the sovereign litigation practice at Quinn Emanuel Urquhart & Sullivan, a law firm representing the company, told PTI.
Prime Minister Narendra Modi on Monday gifted famous Indian tea to the captains of 11 large American corporations.
Chandra, who will turn 69 years old on Saturday, becomes non-executive director with immediate effect.
UK-based Cairn Energy PLC on Tuesday said it will drop litigations to seize Indian properties in countries ranging from France to the US, within a couple of days of getting a USD 1 billion refund resulting from the scrapping of a retrospective tax law.
Chinese e-commerce giant Alibaba has received anti-trust regulator CCI's approval for buying 4.14 per cent stake in Snapdeal.
Fund houses bet on growth, divestment and deregulation.
Omkeshwar Singh, head, Rank MF, a mutual fund investment platform, answers your queries.
The sale proceeds will be fully utilised to repay debt at Bharti Telecom and will make the promoter holding firm a 'debt free company'.
We have a great team and they are quality people with decades of experience. Everyone would like to retain them, says Hemendra Kothari, Chairman, DSP Merrill Lynch.
Gold funds have returned -5.2 per cent, while the Sensex is down 7 per cent in the past year.
During the meeting with Finance Minister Nirmala Sitharaman, it was also suggested that employees' provident fund should increase its exposure in the stock market, which in turn would improve liquidity.
Bjorn Borg and Roger Federer will team up for the showdown of champions at the exhibition event on the BlackRock Tour of Champions.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
Mahindra MF, which began operations in July 2016, is currently a bit-player and placed 31 among 42 fund houses, with assets under management of about Rs 4000 crore
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The government is likely to file an appeal against the Cairn arbitration award contesting its sovereign rights to tax, sources said.
They help diversify portfolio and are less risky.
'It could tempt investors to pick stocks that are not fundamentally sound.'
This came even as the airline recorded the fastest domestic passenger growth rate of 26 per cent.
As per market estimates, the new round would value the city-based firm at about $ 4-5 billion.
'There is no need to do anything, let your SIPs get deducted every month, and stick to your allocation between equity, fixed income and emergency funds and your risk covers.'
The task force will look at emerging markets, technology, regulatory and monetary policies, loss of trust in financial services, and financial inclusion.
Worst performers among category funds, but beat sectoral indices
Snapdeal to acquire GoJavas for Rs 200 cr, say sources.
US-based global technology giant IBM expressed keen interest in participating in India's newly-launched initiatives like Smart Cities and Digital India.
The placement season has brought in positive cheer for students at the IIT Kharagpur this year.
It is best not to get carried away by returns or take a short-term view of the markets, says Bhavana Acharya.
