OVERSEAS FUNDS
Govt Goldmine: PSU stocks still partying hard on D-Street
Public sector stocks have seen a significant increase in market capitalisation post-election results, with speculation of potential government stake sales. Valuations are high, posing challenges for further price appreciation. Retail investors are advised to be cautious and consider CPSE ETF for investment.
Stock ‘GIFT’ to founders of tech cos, unicorns comes under ED lens now
The ED is investigating technology firms and unicorns for violating FEMA through offshore fundraising tactics. The 'gift' of shares to Indian founders is under scrutiny, raising concerns over overseas direct investment. Indian promoters are being questioned and may need to explain past transactions.
FPIs return to fin services, buy over Rs 9,000 cr in June
Foreign investors renewed buying in automobiles, information technology (IT), construction materials, oil & gas and consumer durables sectors.
Brokers' MTF hits record Rs 73,600 crore amid market highs, surging retail participation
Sebi's MTF framework mandates collateralising existing shares. Kotak Securities cautions investors on MTF investments amidst surging margin funding in anticipation of Modi 3.0 budget.
Samvardhana Motherson raises $350 million via bonds
The bonds were sold by a subsidiary, SMRC Automotive Holdings Netherlands, and are priced at 140 basis points above the five-year US treasury, currently trading at about 4.30%. After taking into account the costs, the bond was priced at a yield of 5.72%.
First day JPM flows not a deluge, but bankers confident of steady flow going ahead
From Thursday to Friday, foreign portfolio investors (FPIs) increased their holdings in the index-eligible Fully Accessible Route (FAR) suite of government bonds by Rs 1,545.16 crore, bringing the total to Rs 1.86 lakh crore, according to data from the Clearing Corporation of India Ltd (CCIL) released at 6 pm. This increase left traders somewhat disappointed, as some market segments had anticipated a surge exceeding Rs 10,000 crore on Friday alone.
'Good FATF rating to help India Inc raise overseas funds without elaborate background checks'
India has been given a good FATF rating, allowing domestic companies to access overseas investments without extensive background checks and enhanced due diligence processes. The Financial Action Task Force (FATF) praised India for its high level of technical compliance and its efforts in anti-money laundering and countering terror financing.
Hinduja rejigs fundraise plan for Reliance Capital deal
Hinduja Group, the winning bidder for Reliance Capital, is reworking its fundraising plan to raise ₹7,500 crore from domestic and overseas private credit funds at 15%. The Reserve Bank of India seized control of Anil Ambani-owned Reliance Capital due to governance concerns. Nageswara Rao Y was appointed as the administrator.
GRM Overseas board okays fundraise of Rs 136.5 crore
The funds raised will also expand India's “10X” brand, making it a comprehensive food FMCG product company. The funds will also be allocated to explore future inorganic growth opportunities, including strategic mergers and acquisitions, and improve operational capabilities. These activities may be undertaken directly by the Company or through its subsidiaries or joint ventures.
RBI to face problem of plenty: Prepare for bond sales
The RBI's challenge for the year may not be inflation but liquidity. Government spending resumption and overseas fund flows complicate monetary policy effectiveness.
PSU bank stocks: 10 multibaggers in 5 years of Modi government
PSU bank stocks have soared during Modi's second term, with Indian Overseas Bank leading at 472% returns. Despite this, they trade at a discount, making them potential outperformers. CLSA identifies SBI, Canara Bank, and Bank of Baroda as Modi stocks poised for growth.
FPI buying of debt via voluntary retention route gathers pace
Foreign holdings in India's debt market have surged, with FPI investment in the voluntary long-term route hitting $508 million in May. Recent deals by companies like Vedanta and Nirma have contributed to the rise, with market players expecting further activity as Indian sovereign debt joins a JP Morgan index.
Silver ETFs beat smallcap, largecap MFs with 26% return in 2024 so far
Silver ETFs outperformed smallcap and largecap mutual funds in 2024, with a 26% return so far. Silver funds, dedicated to investing in silver, delivered an average return of 26.08% in 2024, with top performers including HDFC Silver ETF and UTI Silver ETF FoF.
SBI Mutual Fund and Zerodha Mutual Fund files draft documents with Sebi
The minimum application amount will be Rs 5,000 and in multiples of Re 1 thereafter. The quant fund will be benchmarked against Nifty 200 - TRI. The scheme will be managed by Sukanya Ghosh and Pradeep Kesavan.
'AAP got Rs 7 crore foreign funds from 2014 to 2022': ED to MHA in August
Enforcement Directorate informed Union Home Ministry that Aam Aadmi Party received Rs 7.08 crore foreign funds from 2014 to 2022, violating Foreign Contribution Regulation Act, Representation of People Act, and Indian Penal Code. Funds came from multiple donors in US, Canada, Australia, Saudi Arabia, UAE, Kuwait, Oman, and others, with concealed identities to bypass restrictions on foreign donations.
Sebi plans to allow local MFs to invest in overseas funds
Currently, there is ambiguity regarding rules on investments in such overseas funds. This deters mutual funds from investing in those overseas mutual funds and index funds that invest in a basket of countries, including India.
Sebi mulls facilitating MFs to invest in overseas funds with exposure to Indian securities
The Sebi caveat is such overseas funds should not be more than 20% of their net assets. The move would help keep Indian fund of funds (FoFs) true to their label, coupled with cost effectiveness, for investors.
Financial services faces heavy FPI selloff
FPIs sold shares worth ₹27,140 crore across 14 sectors in April 16-30 period. Other than financials, information technology (IT), fast- moving consumer goods (FMCG) and oil & gas sectors were among the sectors that witnessed large outflows.
IOB puts 92 bad loans worth Rs 13,000 crore on the block
The sale is the Chennai-based bank's attempt to explore other avenues for recovery when cases in the National Company Law Tribunal (NCLT) are delayed beyond any timeline, IOB executive director Joydeep Dutta Roy said.
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