'Rexit' in June, old currencies out in November, a new telecom company debuted in August, monetary policy saw a sea change and so did the boardrooms at Tata Group. FY17 was a tectonic year in India's economic calendar and on this special episode we will be taking you through the key events that shaped the year that was.
Various events on both the domestic and international stage have impacted the stock markets in the past financial year. Here is what we learnt from these developments.
More than anything, timeliness of the decision (amid Brexit jitters, Rexit woes and monsoon showers) will be highly beneficial for the companies. "With disbursements expected to come in by August-September, it is going to be a bumper festive season," says Kevin D'sa, President Finance of Bajaj Auto.
It is time to sit back and think. The events that are unfolding may have some consequences that may not be foreseeable today.
In the past 10 days, two major events — Brexit and Rexit — have created panic in the global and Indian markets. Ashok Wadhwa, Group Chief Executive of Ambit Holdings shares his views with CNBC-TV18 on these events that may have negative global and domestic implications.
Life Insurance Corp, one of the most active institutional investors, is believed to have pumped in Rs 99 crore to purchase shares of 6-7 bluechip firms, while mutual funds also turned heavy buyers with a net purchase of shares worth Rs 459 crore and debt securities worth Rs 1,215 crore during the day.
Domestic institutions including state-run behemoth LIC saved the day for Indian markets on June 20, as overseas investors pressed sell-button amid 'Rexit' jitters to take out over Rs 2,837 crore from Indian markets -- the highest single-day outflow so far this fiscal
In line with trending terms like "Brexit" and "Rexit", now Twitteratis have coined a new expression "Nexit" after India-born Nikesh Arora announced his surprise resignation as President and COO at SoftBank
Rajan's exit marks a new chapter in the way the RBI is run and how we institutionalise Rajan. So, we must not look for a hero but move away from individuals and look up to institutions, says Saurabh Mukherjea, CEO-Institutional Equities of Ambit Capital. Ashok Wadhwa, the group CEO of Ambit Holdings, also weighed in.
Experts expect the rally may continue and the Nifty may surpass 8300 during the week if Britain's polls verdict comes true on June 23, when the UK referendum will be held to decide whether the country to remain in European Union or exit.
This is a market in which smart money is so hungry for bad news (so that it gets an opportunity to buy cheap) that the first major correction (if any) will be lapped up by both hands, writes Anuj Singhal.
An outspoken RBI Governor is rarity but Raghuram Rajan is the one who famously declared in James Bond style -- 'My name is Rajan and I do what I do' and he had a candid view on all topical issues economic and political.
Regulator Sebi and stock exchanges have beefed up their surveillance and risk management mechanism to ring-fence capital markets from any excessive volatility tomorrow on account of RBI Governor Raghuram Rajan's surprise decision against a second term.
Were Rajan to leave when his tenure ends in September, Indian markets are expected to fall to reflect his standing, but some foreign fund managers are of the view that, even if he does go, it would not be the end of the world