OVERSEAS PLAYER
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.
Have conviction in India story, want to be fully present: Zurich Insurance Group's Tulsi Naidu
Zurich Insurance Group has acquired a 70% stake in Kotak General Insurance, making it the largest foreign investment in the insurance sector and the first stake acquisition by an overseas insurer since the FDI limit was raised to 74% in 2021. The company's CEO, Tulsi Naidu, believes that owning and operating their own business is essential in a significant market like India. The company has considered investing in India for a long time, especially after the liberalisation of FDI rules.
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.
India Inc raises record debt capital in FY24
India Inc raised more debt capital in FY24 compared to the previous fiscal, with increased interest from both local and overseas investors in Indian companies. According to the Reserve Bank of India's state of the economy report, bond issuances during 2023-24 grew by about 15% to Rs 8.6 lakh crore. Additionally, corporations received higher funds through external commercial borrowings in FY24, with registrations, disbursements, and net inflows substantially higher than FY23 levels.
Restructuring impacts even the smallest player: 5 not so much talked about PSU banks
When it comes to PSU banks, all the limelight is taken by the top players, like SBI, BoB, PNB and one or two others. But the fact is that there are many other small PSU banks, which of course have smaller books and less of national presence, but the fact is that they have been also the beneficiary of the “ reconstruction and restructuring" (R&R) which both government and RBI have done in the banking sector in the last seven years. The good part of any R&R exercise in banking is that all the players whether it is small or large have to follow the rules and that ensures that the operating matrix improves across the sector and which leads to long term beneficial impact. We take a look at 5 small PSU banks, which are not normally in news, but over years they have also seen an improvement in their working. Yes, they have their own risks in terms of loan book and other business risk, but then because they are under owned in institutional space, a bit of institutional buying can lead to sharp re-rating.
Sunil Chhetri announces retirement: A timeline of his journey, achievments, awards and more
Sunil Chhetri, the legendary Indian football player, announced his retirement from international football after a remarkable career spanning over two decades. His final game for India will be on June 6th in Kolkata against Kuwait during the FIFA World Cup qualifier for 2026.
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Q4 results today: SBI, Asian Paints among 69 companies to announce earnings
Q4 results today: On Thursday, State Bank of India (SBI), the foremost public sector lender in India, will be among the 69 companies set to unveil their financial results for the quarter ending March 2024. Investors will also keep a close eye on companies like Asian Paints, BPCL, and Indian Overseas Bank as they announce their results.
Blue Lock Season 2 set to return, release date revealed | What to expect
Popular Japanese manga sports series Blue Lock's second season will see the green light this year itself, according to the official announcement by the creators. Blue Lock shies away from the traditional concept of teamwork seen in most Shonen Jump manga, rather focusing on the individuals.
Easing FDI norms in space sector to attract foreign players, boost demand for high-tech jobs
Sreeram Ananthasayanam, Partner, Deloitte India, said that the recent amendment of higher FDI limits in the space sector is a significant step towards transforming India's space program, in terms of infrastructure development.
Easing FDI norms in space sector to attract foreign players, boost demand for high-tech jobs
The government's decision to ease FDI rules in the space sector is expected to attract foreign players, boost tech jobs, and foster innovation. The move enables 100% foreign investment in satellite components, supporting infrastructure development and creating new business opportunities.
Havells plans to expand overseas markets for Lloyd AC
The company has invested around Rs 400 crore so far in the first phase of its new manufacturing unit at Sri City in Andhra Pradesh, after which its capacity has gone over 2 million units per annum, Havells India Executive Director Yogesh Kumar Gupta said.
Nykaa-KK Beauty to step up overseas expansion
Nykaa-KK Beauty, a joint venture between Katrina Kaif, Nykaa, and Matrix India Entertainment, plans to aggressively expand in overseas markets, particularly the Gulf region. They will also focus on ramping up their offline presence in India. Their sales have seen phenomenal growth through retail stores.
IPO-bound Unicommerce on overseas expansion spree
IPO-bound SaaS platform Unicommerce is expanding its overseas operations by onboarding more clients, a top official said on Tuesday. Unicommerce is already serving 46 clients in Singapore, the Philippines, Indonesia, the UAE, and Saudi Arabia and is now expanding these operations by adding more clients.
IPO-bound Unicommerce on overseas expansion spree
IPO-bound Unicommerce is expanding its overseas operations by adding more clients, offering a diverse product portfolio, and being the only profitable company among top players. Acevector, SB Investment Holdings, and B2 Capital Partners will pare their holdings in the IPO.
Akasa Air to fly beyond Indian boundaries; announces international operations from March-end
Akasa Air, a 19-month-old Indian airline, to begin international operations from next month. It will launch four weekly non-stop flights connecting Mumbai and Doha starting March 28, 2024, joining major rivals IndiGo and Air India.
ED seeks overseas transaction details from Paytm Payments Bank
Earlier this month, Reuters had reported the Enforcement Directorate had started a probe into One 97 Communications, also known as Paytm, on suspicion of violation of foreign exchange rules. The firm had denied allegations of forex violations.
Going forward, we have Rs 12,000 crore of unrecognised revenue, which is coming at a much higher margin: Sobha MD
Sobha explains that the revenue and margin pressure is due to the completion of pre-Covid projects. The company expects an uptick in revenue and margin percentages as the pace of deliveries increases. The focus on cash flow management helps maintain positive net cash flow and a low net debt to equity ratio.
JSW Group announces entry into defence sector; to focus on domestic, overseas markets
Indian conglomerate JSW Group enters defence sector with new business vertical, JSW Defence, focusing on domestic and overseas markets. JSW Defence aims to supply equipment to Indian Armed Forces, become a global player, and contribute to India's ambition of being a USD 5 billion defence export economy. JSW Defence acquires majority stake in Gecko Motors, renamed as JSW Gecko, and secures Rs 250 crore order from defence ministry for supply of 96 ATOR N1200 specialist mobility vehicles. JSW Group partners with UK-based Copato for joint venture and technology supply license agreement to manufacture specialist mobility vehicles in India.
UN migration agency launches Project PRAYAS for orderly, safe movement of Indians overseas
The International Organisation for Migration (IOM) initiated Project PRAYAS (Promoting Regular & Assisted Migration for Youth and Skilled Professionals) in collaboration with the Ministry of External Affairs to facilitate safe, orderly, and regular migration for Indian workers and students. PRAYAS aims to consolidate state-level initiatives, develop a roadmap for improved coordination, and strengthen international migration governance through policy recommendations and awareness initiatives.
IPL 2024 Auction: Sold and unsold players full complete list
History was written at the action-packed auction for IPL 2024 where 72 players were grabbed by the 10 teams at the Coca-Cola Arena in Dubai. The franchises spent a whopping Rs 230 crore on the players, including 30 overseas players.
IPL auction: Two Indians part of list of top 10 most expensive players in Indian Premier League history, click to know who
In IPL 2024 auction, Mitchell Starc broke the record of becoming the most expensive player in IPL auction as he joined KKR for Rs 24.75 crore. Earlier, Pat Cummins was sold to Sunrisers Hyderabad for Rs 20.5 crore. The Top 10 most expensive IPL player list also includes two Indian players - Ishan Kishan and Yuvraj Singh.
IPL Auction 2024: Check date, time, live streaming platform and everything else you need to know
Seamers Harshal Patel and Shardul Thakur along with veteran pacer Umesh Yadav are the three Indian capped players who are in the highest base price bracket of Rs 2 crore with 333 players vying for 77 slots during the Indian Premier League auction scheduled in Dubai on December 19. Harshal, during an auction two years back, had gone for Rs 10.75 crore, after a stellar IPL season that also saw him get into the national team.
Rachin Ravindra, Head & Cummins: World Cup stars who might bag big at the IPL 2024 Auction
The Indian Premier League's (IPL) mini auction is set to feature 119 overseas players, including leading international players from Australia and New Zealand. Travis Head, an Australian opener, has made a name for himself in 2023, scoring 137 runs in the World Test Championship final against India. Rachin Ravindra, New Zealand's best player in the ODI World Cup, has been a lethal batsman, scoring 578 runs at a strike rate of 106.44.
Jammu-Kashmir Express all set to land at IPL auction in Dubai: 9 players short-listed
The Indian Premier League (IPL) has shortlisted nine players from Jammu and Kashmir for the 2024 Player Auction. Vivrant Sharma, a key player in the region, made his IPL debut with Sunrisers Hyderabad last year. He has 309 runs in 14 T20 innings and 8 wickets in 7 innings. Nasir Lone, a 26-year-old all-rounder, has not yet featured in the IPL but hopes to do so in the upcoming auctions.
WPL Auction 2024 date and time: When and where to watch live telecast, streaming online and top players to watch out for
WPL Auction 2024 Date Time: The second Women's Premier League (WPL) auction for the 2024 season is all set to take place on December 9th in Mumbai. A total of 165 players will be available for selection during the auction as the tournament prepares for its second edition. The WPL is scheduled to be held in February-March next year. Indian audiences can watch the live broadcast of the auction on Sports 18 Network. Additionally, the auction will also be available for online streaming on JioCinema.
RBI, CCIL may extend trade time for overseas players
"There will be an increase in bond volumes as we head near the JP Morgan index inclusion in June," a source aware of the matter said. "There could be a need for authorities to see if it is necessary for foreign trade reporting time or trade time on the Clearing Corporation of India (CCIL) to be extended."
Harmanpreet Kaur only Indian player to get picked in WBBL overseas draft
Harmanpreet performed remarkably for the Renegades during the 2021-22 season, scoring 406 runs in 12 innings at an average of 58.00 and a strike rate of 130.96, including three half-centuries and a top score of 81 not out.
Overseas players too will have to pay 28% GST on bets placed on domestic e-gaming platforms
The amendment in IGST Act gives powers to the Government to notify such goods, so that in case of import of such goods IGST can be levied and collected as regular inter-State supply under provisions of IGST Act.
BCCI to review retired players' participation in overseas T20 leagues
Ambati Rayudu, who retired from the IPL after playing a hand in Chennai Super Kings' title winning run last month, will now be seeing playing for Texas Super Kings in the inaugural Major League Cricket (MLC) scheduled in United States in July.
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