Shares of Axis Bank climbed 1.75 percent intraday Thursday after the Reserve Bank of India allowed foreign institutional investors to buy more shares in private sector lender.
Shares of Adani Ports and Special Economic Zone rallied 3 percent on Tuesday after the Reserve Bank of India raised foregin institutional investors' investment limit.
"The purchases could be made through primary market and stock exchanges," the RBI said in a statement.
Domestic households are grossly underexposed to equities in their total assets. They own, directly and through mutual funds and institutions about USD 400 billion dollars of stock. On the contrary they have bank fixed deposits of USD 1.1 trillion dollars and significant investments in gold.
Shares of Somany Ceramics gained 5 percent and Ipca Laboratories rallied 3.5 percent intraday on Monday as foreign investors can invest more in both companies.
Dilip Bhat of Prabhudas Lilladher does not think the market has already peaked this year. He says it will once again look interesting after a decent correction â€“ maybe another 300 points fall. He likes L&T, Infosys and private sector banks such as Axis Bank.
Vivek Rajpal, rates strategist, Nomura India believes FIIs will make a come back only on good newsflow
The government has managed to keep inflation under control and with the economy on a recovery path, one need not look at these corrections negatively and instead use it as opportunity to enter, says BP Singh of Pramerica Mutual Fund.
Prabodh Agrawal of IIFL Institutional Equities says earnings will be the main driver of the market in the coming quarters. He is not betting on the market correcting 10%. He says cement, IT and auto sectors can see earnings upgrade over next 1-2 years.
Faced with global risk factors and FIIs pulling out, India seems to be faced with losing its favourite emerging market status. But is this bounce back a buying opportunity for equity investors? In an interview to CNBC-TV18‘s Shereen Bhan, Herald Van Der Linde, Head-Asia Equity Strategy at HSBC, discuss on the same.
A day after the finance minister announced that a new panel under justice Shah will be set up to look into the interpretation of all direct taxes, CBDT chairperson Anita Kapur has said that the government will not take any coercive action on the various MAT notices issued to FIIs.
Ashutosh Khajuria of Federal Bank expects the Indian currency to trade in 63.90-64.50 range against the dollar going ahead.
Following a decision of the Authority of Advance Ruling (AAR), Income Tax department slapped 68 notices on foreign portfolio investors saying they have to pay 20 percent MAT totalling Rs 602.83 crore on untaxed capital gains made by them over the past three years.
Arvind Narayanan, head of sales, treasury and markets at DBS Bank says rupee has been an outperformer for a while now and a fair amount of profit booking is not an issue. He feels a repeat of FY14 is unlikely.
Bharat Iyer of JP Morgan says that FIIs are overweight on Indian equities by 390 bps versus the benchmark (MSCI EM) â€“ near historic highs.
Shares of HSIL (earlier known as Hindustan Sanitaryware & Industries) gained more than 11 percent intraday Thursday after the Reserve Bank of India allowed FIIs to buy more shares of the company.
The mortgage financier has also become the first listed Indian company among 30 Sensex firms to have around 80 percent shareholding by foreign institutional investors (FIIs).
Sources say the government may also go ahead and offer interest exemption, exemption on debt and dividend income to FIIs
With officials from the Finance Ministry saying they will not yiled to the FIIs demand for a waiver, a long drawn legal battle appears to be on the cards
After a volatile trade, the bulls finally took the charge of Dalal Street on Wednesday despite fears of weak monsoon forecast. Equity benchmarks snapped five-day losing streak with the Nifty closing above the 8400-mark, driven by short covering in private banks, capital goods, FMCG and pharma stocks.
In an interview to CNBC-TV18, Anish Thacker Partner-Tax & Regulatory Services, Ernst & Young, simplifies the tax talk.
Dinesh Kanabar, CEO, Dhruva Advisors explains that there are three kinds of FIIs: protected by double taxation avoidance treaty, no treaty but physical presence in India, and no treaty and no presence in India. So far notices have been sent only to the second category of investors.
Deutsche Equities sees the ongoing tactical correction as a healthy consolidation & investors, who had been on the sidelines may use this opportunity to realign portfolios. Deutsche maintained its year-end Sensex target of 33,000.
The rupee fell sharply today after data showed that trade deficit widened to a four-month high in March. Falling equities and higher oil prices too add to the currency's woes. Ashutosh Raina, head of forex trading at HDFC Bank said that rupee is unlikely to fall too much and should stablise around 63/USD levels.
Benchmarks indices nosedived Monday as concerns over a slower-than-expected macro recovery and weak earnings growth resurfaced. Some brokers said a major factor depressing sentiment was the Rs 40,000 crore retrospective minimum alternate tax claims on FIIs.