WHICH COMPANIES BOUGHT POLL BONDS
New system to ease FPI access to Gsecs awaits RBI nod
Foreign investors seek improved access to Indian bonds through global platforms, awaiting RBI approval. The new model aims for efficient trading with straight-through processing on the NDS-OM platform.
Consolidation push to continue as key raw material gets scarce: 11 small cap cement stocks which fit the bill and may see some action
In less than a month, two cement majors clearly showed their intent. The intent is to grow through an inorganic route. One by complete acquisition, the other by taking a large stake in the company. Another common thing, both of them are focussed on the southern part of India, where the cement companies have a history of being under pressure. So why are they looking toward southern India? The answer lies in something else. It is one of the key raw materials that have become scarce and that is what is leading to a situation where big players clearly know that if they have to grow their capacities they have to pick on companies which have access to that critical raw material. This aggressive consolidation is likely to continue and it is the smaller players which are likely to be targeted.
Bond inclusion positive for banks; return of FII flows to benefit private banks: Pranav Gundlapalle, Sanford C Bernstein
Private sector banks, particularly HDFC Bank, are poised for growth and profitability. Indian bond inclusion may impact liquidity and interest rates, benefiting the banking sector. Public banks face challenges in profitability and growth compared to private counterparts. Regulatory actions in the NBFC sector may favor established players like Muthoot, says Pranav Gundlapalle.
Rupee ends higher, lifted by bond inflows; oil firms' dollar bids cap gains
The Indian rupee closed higher at record levels despite dollar demand, reflecting resilience amidst regional pressures. Anticipation of dollar inflows related to JPMorgan's index inclusion boosted the currency.
Funds circling India debt risk being tripped Up by red tape
China's tax exemptions on bond investments set a precedent for India's sovereign debt market, likely attracting more foreign investors. The hurdles faced by outsiders in accessing the market include lengthy documentation, tax treaty variances impacting returns, and the need for registration via custodian banks for trading in certain bonds.
Stage set for Modi 3.0; which sectors are likely to see growth?
With BJP bagging 240 seats and NDA 291, a much less than expected results in the polls, investors will be looking forward to reviewing their portfolio, prompting predictions on policy recalibration by experts.
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Adani stocks, overseas bonds battered by rout
Adani Group's offshore bonds dropped 1-2 points post Modi government's failure to secure a predicted victory as per exit polls.
Adani Group offshore bonds fall as Modi govt misses predicted majority
The political development led to a sharp decline in Adani Group companies' stock prices as well, which fell by 20% due to the poor performance of the BJP.
Bonds, rupee stage strong rebound on poll outlook
Government bond yields closed at their lowest in over two years, and the rupee saw its largest single-day gain since December, driven by exit polls predicting a strong NDA victory in the general elections.
10-year bond yield at 2-year low, rupee gains as exit polls show NDA victory
Yield on the 10-year benchmark government ended the day’s trade at 6.9438%, its lowest closing level since April 7, 2022, LSEG data showed.
Modi wave on D-Street! Investors add Rs 12 lakh crore as Sensex skyrockets 2,600 pts to record high
Indian benchmark equity indices Nifty 50 and BSE Sensex hit record highs as exit polls predict a third term for PM Modi, boosting investor optimism for infrastructure and manufacturing investments.
GIFT Nifty up 35 points; here's the trading setup for today's session
Tech View: "The recent decline has disrupted the positive momentum, with Nifty falling below its crucial short-term moving average, the 20 DEMA. A decisive break of the 22,400 level could trigger a further drop to the 22,000-22,150 zone. We suggest aligning trades accordingly and adopting a hedged approach," Ajit Mishra, Senior Vice President, Research at Religare Broking.
Foreigners boost India corporate debt buying before govt bond index inclusion
Foreign investors show increasing interest in Indian rupee-denominated corporate debt ahead of the inclusion of Indian government securities in a global bond index, expecting passive inflows of around $25 billion. Recent data highlights purchases in corporate bonds, interest in launching ETFs, and robust demand for dollar bonds.
How crazy would it be if Warren Buffett bought Boeing?
Warren Buffett: Ahead of Berkshire Hathaway Inc.’s annual meeting, a conversation starter suggests Warren Buffett should consider buying Boeing Co. While at odds with Berkshire’s usual conservative approach, Boeing’s potential fits Buffett’s criteria. Despite recent challenges, Boeing’s significant backlog and potential cash generation make it an intriguing prospect for Berkshire Hathaway.
Rahul Gandhi slams PM Modi over electoral bonds issue, calls it a 'form of extortion'
Senior Congress leader Rahul Gandhi launched an attack on Prime Minister Narendra Modi on Tuesday over the electoral bonds issue, describing it as a "form of extortion" and alleging "intimidatory tactics" against targeted businessmen. "There are some people in every small town or village who extort money on the streets by threatening physical harm. In Malayalam, you call this extortion 'kolla adikkal' (loot), but Modi calls it electoral bonds. What a common thief is doing on the streets, the PM is doing at an international level," Gandhi alleged.
Electoral bond scheme deliberately ' muddied waters' of corporate political donations: Congress
Jairam Ramesh alleged there are four primary channels of corruption in the "electoral bond scam" and everyday a new dimension emerges to the "PayPM Scam", "confirming the shocking reality of the corruption which has engulfed this country through Narendra Modi's encouragement".
Nation paid price for BJP's compulsion to get 'chanda' at all costs: Congress
The Congress alleges BJP accepted over Rs 430 crore in donations from 33 firms with negative or near-zero profits through electoral bonds. Jairam Ramesh criticizes the scheme, claiming it promotes corruption. He highlights the donations from companies with dubious financial standings, suggesting possible money laundering. Ramesh asserts that despite RBI's concerns about money laundering, the BJP went ahead with the scheme, emphasizing the need for transparency in political funding.
Nation paid price for BJP's compulsion to get 'chanda' at all costs: Congress
The Congress accused the BJP of pushing the electoral bonds scheme despite RBI warnings. Congress alleged over Rs 430 crore donated to BJP by 33 firms with negative profits. Jairam Ramesh highlighted corruption channels, claiming donations from 'Farzi Companies'. He criticized BJP for ignoring money laundering risks flagged by RBI.
Complete electoral bond data made public: Megha’s Rs 600 cr to BJP single biggest donation
Electoral Bond: This emerged from analysis of data provided by State Bank of India (SBI) on electoral bonds as directed by the Supreme Court. The information was passed on by the bank to the Election Commission of India (ECI), which posted the data on its website Thursday evening.
Aurobindo Pharma bought electoral bonds worth Rs 52 cr, BJP biggest beneficiary
The Hyderabad-based firm had purchased electoral bonds between April 3, 2021 to November 8, 2023 and Rs 34.5 crore was donated to the Bharatiya Janata Party (BJP), Rs 15 crore to the Bharat Rashtra Samithi (BRS), and Rs 2.5 crore to the Telugu Desam Party (TDP).
Insurer activity leads to surge in value of bond STRIPS
The face value of trades of Separate Trading of Registered Interest and Principal Securities, or STRIPS, in the government bond market has risen to ₹2.32 lakh crore in the first ten months of the current financial year against ₹1.16 lakh crore the same time a year ago, Clearing Corporation of India (CCIL) data showed. For FY23, the face value of STRIPS trades was at ₹1.34 lakh crore.
Electoral bond data: Future Gaming and Megha Engineering top donors to political parties
The data release provides details of electoral bonds worth over Rs 12,000 crore. The information was provided by State Bank of India (SBI), the sole seller of the bonds, and published by the ECI.
Mumbai's electoral bond love: 66 companies collectively bought Rs 1,344 crore of poll bonds since 2019
66 companies from Mumbai region bought electoral bonds worth Rs 1,344 crore since 2019, 11% of India's total poll bonds sold. Small businesses participated, Maharashtra's share was Rs 1,562 crore. Pune, Nashik, Kolhapur made contributions. Analysis excluded Mumbai individuals' bond purchases.
Hafta vasooli, shell companies & kickbacks: Congress claims poll bond details open a can of worms
Electoral bond data: The Electoral Commission's recent release of electoral data has sparked immediate reactions, with the Congress party swiftly analyzing the bond data disclosed by the State Bank of India. Congress alleged various corrupt practices by the BJP, including quid pro quo, hafta vasooli, kickbacks, and money laundering through shell companies.
View: Lifting veil on corporate political donations via poll bonds throws troubling questions
Electoral bonds data revealed major donors' name, raising concerns about the relationship between money and politics ahead of the upcoming Lok Sabha elections. The disclosure of anonymous electoral bonds sheds light on hidden transactions and highlights the need for transparency in democratic processes.
Electoral Bonds: Keventer group, third largest poll bond buyer, poured total Rs 617 crore
Entities from Kolkata, led by Mahendra Kumar Jalan, significantly invested Rs 617 crore in electoral bonds. Keventer Agro, involved in various sectors, recorded notable revenue. Supreme Court ended the Electoral Bond Scheme, impacting political party donation disclosures.
Future Gaming’s Santiago Martin: Under ED, I-T’s lens for a decade, this 'Lottery King' bought electoral bonds worth Rs 1,368 cr
ELECTORAL BONDS: Future Gaming and its CEO Santiago Martin, dubbed the 'Lottery King', have drawn attention for purchasing electoral bonds worth Rs 1,368 crore. The company, with interests spanning healthcare to gambling, has faced scrutiny from investigative agencies for alleged financial fraud and money laundering since 2011, despite its substantial turnover.
Electoral bonds: Some key things to know about the scheme scrapped by SC
In the affidavit, SBI revealed that a total of 22,217 electoral bonds were purchased and 22,030 redeemed by political parties between April 1, 2019 and February 15 this year.
Electoral Bonds: Why are they banned & how will it affect BJP?
Poll bonds: India’s Supreme Court has banned the use of anonymous electoral bonds by political parties for fundraising. This decision affects funding across party lines but is seen as a setback for the ruling BJP, which benefited the most from the scheme.
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