BSE, Bank of New York Mellon to ease foreign investment rules
Posted on 27th September 2014 |
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| BSE Ltd and Bank of New York Mellon have signed an agreement enabling foreign investors to provide AAA rated sovereign bonds traded outside of India as collateral for trades done on the domestic exchange, the two parties said in a joint statement released late on Friday. The two parties said with the signing of this agreement they "aim to enhance the trading experience for foreign institutional and retail investors and bring Indian practices in line with the best in the world". The move is expected to make it easier for foreign investors to operate in India and reduce their costs of collateral and trading in Indian markets significantly over a period of time. "Currently FIIs have to go through a time consuming process to get approvals for collaterals under Sebi...this MoU (memorandum of understanding) would mean they will come directly to the exchange. This will reduce their time to market," a BSE spokesman told Reuters. Foreign institutional investors who have been key behind the Sensex hitting all-time highs on Sept.8 have bought Indian shares worth $13.95 billion and debt worth $19.70 billion so far this calendar year. Indian shares have been the best performers in Asia in 2014 so far. The Sensex is up 26.7% while the Nifty is up 28.7% in dollar terms. |
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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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