The third tranche of the government's exchange traded fund (ETF) of top 10 state-owned companies saw bids worth Rs 9,200 crore from investors, which is 3.7 times the amount sought to be raised.
The rules are already in place, but enforcing it is the biggest challenge for the regulator, given the magnitude of the foreign funds coming in through the P-note route. At presently, rough USD 30 billion of FII holdings are through the P-note route. It is near impossible for SEBI to keep track of every entity to which P-notes are issued
Nitin Mathur, Emerging Markets Consumer Research, Societe Generale, feels United Breweries and United Spirits are expensive, and that the problems in Nepal are a one-off risk for Dabur.
Vivek Misra of Societe Generale likes banks, industrials and consumer discretionaries now and prefers private banks over public sector banks. He also advises investors to focus on largecaps at this stage.
French bank Societe Generale may cut between 600 and 700 jobs as part of a broader cost-cutting drive in the face of stagnant growth in its home market, three union sources told Reuters on Friday.
Patrick Legland, global head research, Societe Generale, says that there was a good rebound in most European emerging markets but we might see some corrections in next few weeks. Investors are still too much underweighted in European assets and then a switch from emerging market to European assets is likely.