HDFC Bank counter powers FPI inflows into India to $1.4 bn in 2017
Posted on 25th February 2017 |
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| Foreign portfolio investors (FPIs) have bought stocks worth $1.4 billion so far in 2017, thanks to some big purchases in the HDFC Bank counter. That’s nearly half the amount of $ 2.9 billion that overseas investors pumped into the equity markets in 2016. Among India’s peer markets, Taiwan and Brazil have attracted the most foreign money so far this year. While Taiwan has witnessed an inflow of $3.07 billion, Brazil has attracted $2.37 billion of foreign funds. South Korea pulled in $1.76 billion and Thailand received the least amount of foreign investor money at just $123.5 million. Buying by foreign funds, supported by purchases of domestic funds, has made Indian equities one of the most attractive markets in the world. So far this calendar year, Sensex has yielded a return of 10.3% in dollar terms compared with an 18.33% return by Brazil-BOVESPA and an 11.05% return by Taiwan TAIEX. Shares of HDFC Bank rose to a record high last Friday with record volumes after Reserve Bank of India (RBI) removed the restriction on FPIs from picking up additional stakes in the lender. On Friday alone FPIs bought equities worth $1.2 billion – the highest single day purchase since April 21, 2015, Bloomberg data showed. The big demand for shares of HDFC Bank, the world’s most expensive bank if one goes by the price to book value multiple it trades at, is driven by the bank’s performance and track record. The bank has the cleanest loan book in the business; gross non-performing assets (NPA) as a percentage of total loans, stood at 1.05% at the end of December 2016. |
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Bharti Airtel defers Q2 results till Nov 14 over ambiguity on AGR verdict
Posted on 29th October 2019 |
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Bharti Airtel said on Tuesday it has postponed its second-quarter earnings report to mid-November, as the wireless operator sought clarity on the court ruling asking telecom firms to cough up overdue payments to the government.
Shares of the company, which was expected to release its quarterly numbers later in the day, dropped 3.3 per cent in early trade. |
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Rupee slips 8 paise vs US dollar in early trade amid drop in oil prices
Posted on 7th October 2019 |
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The rupee on Monday opened eight paise lower at 70.96 against the US dollar amid drop in crude oil prices and rise in Asian equities. The domestic unit on Friday closed almost flat at 70.88 against after the Reserve Bank of India (RBI) in a widely expected move cut key interest rates by 0.25 percentage point. On a weekly basis, the local unit slumped by 32 paise. |
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LIC pips private insurers in first-year premium growth during April-August
Posted on 13th September 2019 |
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In the first five months of the current financial year, first-year premiums of life insurance companies grew by 39.84% (year-on-year) at Rs 1.05 lakh crore as compared to Rs 75,588.35 crore in April-August of 2018-19. Life Insurance Corporation of India (LIC) continued to grow at a faster pace compared to private insurance players, shows the data from the Insurance Regulatory and Development Authority of India (Irdai). |
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Apollo Hospitals rules out further stake sale
Posted on 13th September 2019 |
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Apollo Hospitals Enterprise (AHEL) has ruled out further dilution of promoters’ stake in the company. The company also said its Rs 1,337-crore stake sale of Apollo Munich Health Insurance with mortgage major HDFC will be concluded by October. Following these stake sales, the promoters’ pledged position will come down from a high of 76% to 54% by October and eventually to 20% by November or December, company sources said here. |
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World trusts India on Kashmir, not us: Pakistan minister Ijaz Ahmed Shah
Posted on 13th September 2019 |
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In a major embarrassment for Pakistan and its Prime Minister Imran Khan, the country's Interior Minister Ijaz Ahmed Shah, a retired brigadier, said the international community didn't believe Pakistan's narrative on Kashmir; instead it is India whose version is trusted. |
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