Most state governments have further relaxed lockdown norms in the current phase as well as allowing domestic air-travel to resume. Tensions between India and China and China and the US remain a concern for the markets. Also, any acceleration in coronavirus infections could further slow down the lifting of lockdown and delay any economic recovery. Notwithstanding the near-term uncertainty, valuations are attractive on a medium-term basis. … [Read more...] about The weekly dossier: Here’s what top voices have to say about the market
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UK-based Sun Global Investments is one of the investment bankers that helped bank to raise the money. It has charted out the following key features of the bond-sale: First major masala bond deal after RBI issued fresh approvals to a series of corporated in December 2017, thus announcing the reopening of the masala bond market. India’s first long dated masala bond – stretched the masala yield curve to 7 Years which coupled with the outstanding 3y and 5y Issuances – creates a reasonable duration yield curve for masala bond Investors INR funding – opens a new conduit for all other Indian Banks First private entity from India to raise an “Investment Grade” masala bond rated BBB- by S&P and Baa2 by Moody’s , thus paving the way for other “rated” issues from India. Oversubscribed almost two times and strong book and first masala ond where UK / EU participation outstripped Asia accounts … [Read more...] about HDFC Bank raises funds via offshore rupee-denominated bonds
The Reserve Bank of India has constituted a task force on offshore rupee market to find ways to move non-resident Indian to the domestic market and improve liquidity to promote on-shore hedging activity. The task force will examine offshore rupee markets in depth and recommend appropriate policy measures that also factor in the requirement of ensuring the stability of the external value of the rupee. The panel will be chaired by former deputy governor of the RBI Usha Thorat. Ajit Ranade, Chief Economist of the Aditya Birla Group, Sajjid Chinoy, Chief Economist of JPMorgan India and Surendra Rosha, CEO of HSBC India are other members of the task force. The panel will also have nominees from the government, Sebi and the RBI. The terms of reference of the task force are: Assess the causes behind the development of the offshore rupee market Study the effects of the offshore markets on the rupee exchange rate and market liquidity in the domestic market Recommend measures to address … [Read more...] about RBI forms task force on offshore rupee market
Mumbai: Shares of Vodafone Idea witnessed volatile trading and pared early gains on Friday, but still managed to close nearly 13 per cent higher after the telecom major clarified that media reports on US internet giant Google’s interest in the company were incorrect. The stock pared intra-day gains to settle 12.71 per cent higher at Rs 6.56 a share on BSE. Earlier in the day, it had risen as much as 34.90 per cent to Rs 7.85 a share. The stock is still up 55.82 per cent for last one month, significantly outperforming benchmark Sensex, which is down 0.9 per cent over the same period. On Thursday, Financial Times had reported that Google is looking to buy a 5 per cent stake in the company, driving its stock through the roof in early trade on Friday. “As part of corporate strategy, the Company constantly evaluates various opportunities for enhancing the stakeholders’ value,” the company said in a release on Friday afternoon. “Currently, there is no … [Read more...] about Why did Vodafone Idea shares pare stellar gains?
For example, portfolios for the youngest children may have allocations of 80 percent or more in stocks, and 20 percent or less in fixed income securities. As students age, portfolios automatically adjust to reduce risk. By late high school, age-based portfolios may have 15 percent or less in equities and 85 percent or more in fixed income. … [Read more...] about Protect your college savings amid growing market turmoil