At ThePrint’s Off The Cuff, Ashish Chauhan plays down tax fears spooking FPIs, warns against stock tips, flags cyber threats, & explains why NSE listing remains work in progress.
March has been a good month for equity & currency, backed by FPI inflows & weak dollar. Going forward, tariffs, Chinese markets, oil prices & corporate earnings may have a role to play.
Inclusion of Indian bonds on J.P. Morgan’s emerging markets index may lead to more foreign investment & lower borrowing cost. Dollar inflows could imply rupee appreciation & higher liquidity.
While bank credit looks healthy, there are signs of stress. Pvt investments show green shoots but merchandise exports are contracting. Foreign investors continue to find India attractive.
Overseas ownership of Indian govt & sovereign bonds has fallen to record lows. FPIs have utilised less than 25% of their investment limit in govt bonds & just 17% in corporate bonds.
A group of ministers is likely to meet on 4-5 March to decide whether the govt should go ahead with the IPO, as foreign portfolio investors could be key to its success.
At 2nd such summit in Punjab for top investors organised by AAP since it came to power in Punjab, Lakshmi Mittal announced his Bathinda refinery has increased production of LPG by 3,000 tonnes/day.
The Nirouyeh Vijeh Pasdaran Velayat, or NOPO, was the only force Ali Khamenei trusted.It was founded in 1991 and is more feared than the Revolutionary Guards.
Trump has ushered in the age of humiliation. His method is to push around America’s friends rudely and publicly. He knows none of them can afford to fight back.
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