TCS FOR FOREIGN EQUITY INVESTORS
Delhi High Court upholds Mauritius tax treaty benefits, overturns AAR ruling against Tiger Global
The Delhi High Court has ruled in favor of Tiger Global, dismissing the tax department's claim that the firm's Mauritius-based entities were mere facades to avoid capital gains tax in the 2018 Flipkart-Walmart deal. The court upheld the validity of tax residency certificates (TRCs) issued by Mauritius, emphasizing that investments through Mauritius shouldn't be viewed with suspicion. This decision reassures foreign investors who benefited from tax treaties before 2017 and strengthens Mauritius' position as a financial hub. The ruling is expected to be contested by the tax authorities in the Supreme Court.
Rupee falls 2 paise to 83.95 against US dollar in early trade
The rupee has depreciated by 2 paise to 83.95 against the US dollar, influenced by a muted trend in domestic equities. Forex experts note that the rupee's downside appears capped, possibly due to Reserve Bank of India's intervention. The dollar index and Brent crude prices saw minor gains, while domestic equity markets experienced slight declines.
‘Defensive’ pharma scales new peak as Street looks beyond high-growth plays
Pharma stocks have gained investor interest as the Nifty Pharma index reaches new highs. Amid economic uncertainties, defensive sectors like pharma offer minimal risk. Notable picks include Lupin, Sun Pharma, and Dr Reddy's. The sector saw significant foreign inflows, driven by the performance of the generic drug Revlimid.
Once a darling, China turns 'radioactive' for big foreign money
Foreign investment in China is rapidly declining. High geopolitical tensions and regulatory unpredictability have led investors to reconsider their positions. Many EU and Japanese firms show caution. India sees an opportunity to attract these wary investors.
Sent more than Rs 6 lakh abroad? You may get a tax notice by December 31, 2024
Income tax notice: You may get a income tax notice by December 31, 2024 if the tax department found you have income which escaped assessment. This is because tax officials are analysing Form 15CC data to find out who has sent more than Rs 6 lakh abroad and there is a mismatch between the amount sent abroad and the amount declared as income in ITR.
Jio Financial Services gets nod to raise foreign investment limit to 49%
Jio Financial Services Ltd has been granted approval to raise its foreign investment limit to 49%. Foreign investors currently hold 17.55% of the company's shares. The company's net profit fell 6% in the first quarter ending June. Jio Financial introduced new services such as mutual fund loans and auto insurance in July.
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F&O Talk | Nifty can scale a new peak, go for bull spread: Sudeep Shah of SBI Securities
“Markets have demonstrated remarkable resilience, with each dip being met with buying interest. Geopolitical tensions and concerns about the Yen carry trade have eased somewhat, contributing to a global market rebound. The overall setup is bullish with Nifty forming a Higher-top Higher-bottom pattern for the past 3 weeks. If Nifty surpasses 24,940, it could potentially advance towards 25,150-25,200 levels in the short term.”
PSUs' M-cap grows by 4% in 2 years, now comprises 15% of India's total market capitalisation
Public Sector Undertakings (PSUs) in India have seen their market capitalisation rise by 4% over 24 months, and now represent 15% of the market. Despite unchanged earnings metrics, their valuation multiples have expanded significantly. ROE is improving, and substantial capex suggests future growth.
Nifty top 10 equal weight funds good for lump sum play
The DSP Nifty Top 10 Equal Weight Index Fund opened for investment opportunities. This fund includes top stocks like Infosys, RIL, and HDFC Bank and requires a minimum investment of ₹100. Analysts believe it offers a strategic opportunity given the recent underperformance and valuations of these top stocks.
FPIs sell off big in financial services sector in August
In early August, foreign investors sold ₹14,790 crore worth of shares in financial services, the highest among all sectors. Key reasons included merger issues and benchmark changes. Other sectors like metals & mining and construction materials saw significant sell-offs. However, there were inflows totaling ₹9,819 crore across eight sectors in the same period.
FDI inflows surge 26.4% to $22.4 billion in April-June
Foreign direct inflows increased by 26.4% to $22.4 billion during April-June, marking significant growth. Sectors like manufacturing and financial services saw major investment, with countries such as Singapore and the US contributing. This uptick is promising for India’s goal to attract more overseas investors diversifying beyond China.
New capital gains taxation rules: Investors can pick assets purely on merit rather than to optimise tax outgo
After the recent budgetary changes, you can build your investment portfolio without being dictated by tax gains.
FPIs pull out Rs 21,201 crore from equities in August so far
In August, foreign investors sold Indian shares worth ₹21,201 crore, reversing inflows seen in July and June. The sell-off was influenced by global factors like the unwinding of the Yen carry trade, recession fears, and geopolitical tensions. Additionally, profit-booking after recent market gains contributed to the outflow.
Chinese stock investors lose a key indicator to gauge sentiment
Starting Monday, China's stock exchanges ceased providing daily data on overseas fund flows to curb market volatility and focus on long-term indicators. The CSI 300 Index faced significant declines this year due to disappointing earnings and insufficient policy support. This decision highlights continued foreign fund withdrawals and a bleak outlook for economic recovery.
FPIs turn net sellers; pull out Rs 21,201 crore from equities in Aug so far
In August, foreign investors withdrew Rs 21,201 crore from Indian equity markets, influenced by the unwinding of the yen carry trade, US recession worries, and geopolitical tensions.
FPIs remain net sellers at Rs 21,201 crore in first fortnight of August. Here’s why
Chief Investment Strategist at Geojit Financial Services points out a key trend in recent FPI activity. He notes that FPIs are increasingly selling through the exchange while simultaneously investing via the 'primary market & others' category. This pattern has become particularly evident in August, highlighting a notable shift in FPI investment strategies.
Foreigners turn short Indian shares for first time in two months
Foreign investors have shifted their stance on Indian shares, driven by volatility, lackluster earnings, and a surprise tax hike on equities. They became net sellers, offloading nearly $2 billion worth of stocks in August, after a period of buying in June and July. The NSE Nifty 50 Index still trades at high valuations despite recent dips.
Rupee turns flat at 83.94 against US dollar in early trade
The Indian rupee stabilized at 83.94 against the US dollar amid concerns over high crude oil prices and foreign capital outflows. Positive sentiment in equity markets and a weaker dollar provided support. The Sensex and Nifty saw significant gains. Wholesale inflation fell to 2.04% in July, driven by lower food prices.
Why are foreign investors not totally convinced on India? Mark Mobius explains
Mark Mobius highlighted that domestic investors lead the Indian market, despite challenges for foreign investments due to bureaucracy and tax issues. He expressed confidence in India's potential, particularly in large-cap stocks and hardware sectors. He also advised investing in companies with strong balance sheets and keeping cash reserves for market corrections.
D-Street indices rise over 1% on global rebound after BOJ’s dovish talk
India's stock indices rebounded by over 1% after three losing days as the Bank of Japan vowed to maintain stable interest rates. The Nifty rose 304.95 points, closing at 24,297, and the Sensex climbed 874.94 points to 79,468. Domestic institutional investors were net buyers, while foreign investors sold shares worth ₹3,315 crore.
Strong growth, MF inflows help India avoid big falls
Indian stock markets have shown resilience amid global selloffs, thanks to robust domestic investment and strong economic indicators. Recent declines in global indices saw the Nifty drop less sharply, reflecting the impact of significant domestic inflows. Analysts credit strong corporate earnings and economic growth for this stability, contrasting with heavier losses in other Asian markets.
FPIs begin August as net sellers, offload Indian equities worth Rs 1,027 crore in two sessions
FPIs purchased a significant amount of domestic shares in July 2024, amounting to Rs 32,365 crore. This buying trend continued from June, where they also invested heavily. However, there was a period of net selling in April and May, where they offloaded shares. The year began with a negative trend in January, but February and March saw them return as net buyers, making significant investments in the market.
Foreign investors need to look at India's growth because that is translating into earnings: Alessia Berardi, Amundi Investment
Alessia Berardi, Head of Emerging Macro and Strategy, from Amundi Investment Institute, noted the increased interest in India's market. She highlighted that despite the high valuations, investors are drawn due to India's growth potential and regulatory improvements. Key investment themes include consumption, manufacturing, and digital innovation. Risks involve potential equity oversupply and market fluctuations.
More positive from FPIs’ perspective for next 10-20 years; retail investors bringing down volatility: Navneet Munot
One of the other reasons for improving valuation for India is a structural decline in volatility, says Bharat Shah. Foreign money was talking much more than it deserved to in terms of the impact and therefore the structural decline in volatility itself is a source of greater confidence for the future and therefore greater valuation today.
FPIs go big on capital goods, consumer discretionary firms
Foreign investors are increasingly favoring India's discretionary consumption and capital expenditure sectors, with a significant rise in equity allocations. Sectors like capital goods, auto, and telecom are attracting substantial investments, offsetting outflows from other sectors like financial services and FMCG.
FPIs net buyers of Indian equities at Rs 30,772 crore in July so far. Know what they are spending on
In June, FPIs turned net buyers in Indian equities, investing Rs 26,565 crore, reversing the trend of outflows in April and May. This followed a mixed start to the year, with selling in January, buying in February and March, and then selling again in the following months.
Private equity deals in Indian real estate increased marginally
Private equity deals in Indian real estate surged in Q1 FY25, mainly due to a significant investment in Reliance Retail's warehousing assets. The $1.5 billion Reliance-ADIA-KKR deal represented 71% of total PE deals. Despite an overall weak macroeconomic environment, deal sizes increased by 23% year-on-year. Other notable transactions occurred in Hyderabad, Bengaluru, Pune, and MMR.
FPIs inject Rs 7,900cr in equities in first week of Jul; investment surpasses Rs 1 lakh cr in 2024
FPIs infused Rs 7,900 crore into Indian equities, raising the total to Rs 1.16 lakh crore in 2023. June saw a Rs 26,565 crore inflow with political stability. Milind Muchhala noted US bond yields' impact. Geojit's Vijayakumar cited buying in telecom, autos. The debt market gained Rs 6,304 crore due to the JP Morgan EM Govt Bond Index.
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.
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