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Financial Express April 6, 2020  Indian share markets are almost certain to get billions of dollars in foreign fund inflows, with the regulatory changes allowing for higher foreign portfolio investment limits in various companies. The only thing that remains uncertain, and depends on an X-factor, is whether it will happen with the impending revision in MSCI indices in May, or sometime later in the next revision. Earlier, on Friday last week, depository institutions CDSL and NSDL notified changes to the foreign investment limits in individual companies, raising the same to their respective sectoral caps. The notification followed a finance ministry announcement last October. Higher foreign investment limits in Indian companies would lead to MSCI (Morgan Stanley Capital Investment) to raise Indian companies’ weightage on its indices, brokerage and research firm Motilal Oswal said in a report. “Higher limits imply higher Foreign Investability Factor (FIF), and thus, higher...

Hindustan Times March 23, 2020 PTI Domestic stock trading on Monday resumed after a 45-minute halt, with equity benchmark Sensex plummeting further to 3,186 points and the broader Nifty sinking below 7,900 level. Stock exchanges paused trading for 45 minutes after Sensex plunged 10 per cent, hitting its lower circuit limit, within the first hour of opening of the session. As an automatic mechanism to curb freefall in the market, trading is halted in the market for 45 minutes when an exchange plunges 10 per cent before 1 pm. Continuing its downward spiral, domestic BSE Sensex was trading 3,185.84 points, down 10.65 per cent at 26,730.12. It hit an intra-day low of 26,645.83. Similarly, the NSE Nifty cracked 923.95 points, or 10.56 per cent, to 7,821.50 after resumption of trade. Axis Bank was the top loser on Sensex, cracking up to 21 per cent, followed by IndusInd Bank, ICICI Bank, Bajaj Finance, UltraTech Cement and Kotak Bank. Reference :  h ttps://www.hin...

Business Line October 10, 2019 By Lokeshwarri SK  The alarming growth in offshore rupee trading means the RBI will have less control over the currency. This must be arrested The alternative venues for foreign exchange trading that once lurked in the shadows are now beginning to take centre-stage and policymakers are now beginning to realise that this threat needs to be urgently tackled. Offshore trading in few currencies has burgeoned to such an extent that it is higher than the onshore trading volume. In a bid to contain the damage done by the offshore market for rupee, the RBI recently made two policy changes based on the recommendations of a task force headed by Usha Thorat. One, it has now allowed domestic banks to freely share foreign exchange rates with non-residents and, two, trading in rupee derivatives has now been allowed on International Financial Services Centres. It is, however, doubtful if the RBI’s measures will have any immediate impact. The cr...

The Financial Express October 09, 2019 By Smitha Francis Under the ominous shadow of the US-China trade war and global slowdown, there is urgency in concluding the Regional Comprehensive Economic Partnership (RCEP) agreement. Under the ominous shadow of the US-China trade war and global slowdown, there is urgency in concluding the Regional Comprehensive Economic Partnership (RCEP) agreement. With RCEP set to add China as well as Australia and New Zealand as India’s new free trade partners, how does this trade deal fit in with India’s national priorities for increasing domestic value added production and employment through the Make in India mission? The shift in India’s approach to RCEP from the earlier reticence to the current TINA (there is no alternative) seems to arise from a perceived fear of marginalisation in relation to exports and FDI inflows. This marginalisation fear has two major assumptions underlying it.  The first is that the import of intermediate pro...

Business Line PTI Oct 06, 2019 Foreign portfolio investors have offloaded equities worth around ₹3,000 crore in just three trading sessions of October amid fears of global recession and trade war. This follows a net investment of around ₹7,850 crore by foreign portfolio investors (FPI) into equities in September. Market experts, however, believe that FPI inflows are expected to pick up after the rate cut by the Reserve Bank of India (RBI) and several decisions taken by the capital markets regulator Securities and Exchange Board of India (SEBI). The central bank on Friday cut benchmark repo rate by 25 basis points to 5.15 per cent. The interest rates cut is for a record fifth straight time to almost a decade low. According to the depositories data, overseas investors pulled out ₹2,947 crore from equities and ₹977 crore from debt segment on a net basis. This resulted in a total net outflow of ₹3,924 crore from the Indian capital markets during October 1-4. Marke...

Business Line KS Badri Narayanan October 07, 2019 Compensation formula should be worked out to assess the loss incurred by a trader due to a glitch Of late, trading glitches, especially on the NSE, have been hurting traders and investors big time. September 23 (Monday) was a crucial day for traders and investors, as the market witnessed record buying activity after Finance Minister Nirmala Sitharaman (on Friday) announced major measures to prop up the economy. However, on that day, brokers were hit by a trading glitch as stock prices and index levels were not updating on the terminals linked to the NSE. Some brokers could not see the updated NSE feeds or prices on their screens due to a ‘technical glitch’ with one of the service providers. ICICI Direct, in fact, tweeted to its customers saying ‘price feeds not coming from NSE due to technical issue at NSE end. Limit orders not going across all products. Please place limit price’. According to an NSE spokesperson, t...

FE Online | Updated: February 19, 2019 Ride hailing company Ola today announced investment of Rs 650 crore from Flipkart’s co-founder Sachin Bansal as part of its ongoing $1 billion Series J round. Bansal invested in personal capacity as an investor, Ola said in a statement. “On one hand, they (Ola) have emerged as a global force in the mobility space and on the other, they continue to build deeper for various needs of a billion Indians through their platform,” Bansal said.  Ola, earlier this month, raised $16 million from 9 investors based in the US and British Virgin Islands, as per ROC documents sourced by data platform Paper.vc. The $1 billion series J round was announced by Ola in October last year when it raised $1.1 billion from China’s Tencent and SoftBank. “Sachin is an icon of entrepreneurship and his experience of building one of India’s most respected businesses ground up, is unparalleled. His investment is a huge encouragement for all of us at...

Arindam Majumder, New Delhi  Last Updated at August 9, 2018 02:23 IST Distressed Indian airlines may get a new line of funding from foreign lenders, as the government is mulling opening up the external commercial borrowing (ECB) route for them to raise working capital. The civil aviation ministry has sought the intervention of the finance ministry to allow airlines to tap foreign funds. “Airlines, in their correspondence with the government, have requested that since aviation has become a primary mode of transport and an essential part of the infrastructure, they should be given benefits such as access to ECB for working capital. We have written to the finance ministry asking for it,” said a senior ministry official. The ministry has also asked that the cap of such borrowings is to be set at $500 million (Rs 34.5 billion) for a single company and $1 billion (Rs 69 billion) for the entire sector. “Some airlines such as Jet Airways and IndiGo had demanded that the cap...

Indian Express George Mathew and Sandeep Singh, February 07, 2018 The runaway rally and scaling of new peaks by the Sensex on an almost daily basis until the presentation of the Budget on February 1 have been put to rest for now. Rising bond yields across the world, the possibility of higher inflation, and steeper interest rate hikes have dampened sentiment. The Sensex fell 561 points or 1.61% on Tuesday — it has now lost 2,087 points, or 5.75%, over the last six trading sessions. The markets opened 1,000 points lower on the back of weakness in the global markets — the Dow Jones Industrial had fallen 4.6% on Monday, and the Hang Seng in Hong Kong fell 5.1% on Tuesday. Nikkei in Japan and Shanghai Composite in China fell 4.7% and 3.4%. During the afternoon trading hours, major European indices were down by over 2%. Read | Global crash has market tottering, Rs 2.7 lakh crore wiped out in a day What led to the fall in the United States? On February 2, the Dow Jones Ind...