7. Foreign Investments in India

Size: px
Start display at page:

Download "7. Foreign Investments in India"

Transcription

1 Introduction Since 1992, Foreign Institutional Investors (FIIs) have been allowed to invest in all traded securities on the primary and secondary markets, including shares, debentures and warrants issued by companies listed or to be listed on the major stock exchanges of India and in schemes floated by domestic mutual funds. All FIIs registered with SEBI are eligible to invest in India s primary and secondary capital markets (purchase shares and debentures) only through the country s Portfolio Investment Scheme (PIS). In the budget speech of , the Government announced that qualified foreign investors (QFIs), who met the Know Your Customer (KYC) norms would be allowed to directly invest in Indian equity and debt mutual fund (MF) schemes. This was the first time that QFIs were allowed to directly participate in the Indian capital market. In January 2012, the Government issued a press note stating that QFIs would now be allowed to invest in the equity shares of Indian companies. Later on, in the budget speech of , the Government announced its intention to permit QFIs to invest in corporate bonds in India. When implemented, the QFI framework would stand extended to all three important segments of the Indian Capital markets, i.e., Mutual Funds, Equity Market and Corporate Bond Market. Recently, SEBI introduced a new class of foreign investors in India known as the Foreign Portfolio Investors (FPIs) effective from June It was formed by merging the following existing classes of investors, namely, FIIs, QFIs, and the sub-accounts of FIIs. The investments and purchases of FPIs and private equity have been further discussed below. 7.2 FII investments in India Foreign institutional investors hold a significant share of Indian equity shares (about 19% 1 ), as developing economies like India provide a high growth potential compared to mature economies. This has been one of the major reasons for the strong FII flows seen from FY12 to FY15 (see Table 7-1). Macro stabilization, high hopes from Modi Government and a raise in FII debt limit largely led to the rise in inflows during this period. However, inflows turned negative in FY16 as the Indian economy started dipping from the third quarter of At the same time the US economy was showing signs of recovery, and there were talks of interest rate hikes. This was the third time since FIIs entered Indian markets that they became net sellers for the year. The first time was seen in FY99 during the Asian crisis ( Rs -16 bn ), while the second time was during the Global Financial Crisis in FY09 (Rs -458 bn). Surprisingly, there was no crisis in FY16, and even then FIIs had begun withdrawing from emerging markets with India no exception. In the subsequent years, FIIs have been net buyers so far as seen below. 1 FII ownership for all NSE listed companies as of December 2017

2 82 Table 7 1: Trends in FPI Investment Period Purchases Sales ,12,850 82,75,620 9,37,250 18, ,48,450 73,64,810 16,83,670 31, ,29,350 96,93,620 4,50,080 8, ,52,13,461 1,24,38,868 27,74,599 45, ,32,44,175 1,34,25,927-1,81,751 (2,558) Apr-16 11,86,093 10,37,751 1,48,342 2,231 May-16 10,71,263 10,89,922 (18,659) (279) Jun-16 11,77,113 12,02,187 (25,074) (373) Jul-16 12,02,844 10,08,271 1,94,573 2,895 Aug-16 12,75,218 12,10,753 64, Sep-16 14,60,498 12,58,172 2,02,326 3,039 Oct-16 9,85,873 10,88,936-1,03,062 (1,543) Nov-16 13,05,400 16,99,361-3,93,961 (5,786) Dec-16 11,16,223 13,87,338-2,71,115 (3,989) Jan-17 9,73,994 10,08,952 (34,958) (512) Feb-17 12,73,841 11,15,217 1,58,624 2,363 Mar-17 20,41,917 14,79,308 5,62,609 8, ,50,70,277 1,45,86,167 4,84,110 7,600 Apr-17 12,16,305 9,88,722 2,27,582 3,513 May-17 14,81,773 12,13,111 2,68,662 4,170 Jun-17 16,94,843 14,01,824 2,93,019 4,548 Jul-17 14,38,799 11,98,520 2,40,279 3,732 Aug-17 12,48,459 12,21,690 26, Sep-17 12,78,480 13,78,914-1,00,434 (1,533) Oct-17 1,455,190 1,264, ,190 2,933 Nov-17 1,623,770 1,421, ,580 3,118 Dec-17 1,414,610 1,450,040 (35,440) (552) Apr-Dec ,437,620 10,087,970 1,349,650 20,909 Bulletin Category wise: Equity and Debt investments In , FII investments were largely dominated by equity inflows at Rs 516bn vs. debt outflows of Rs 104bn (Table 7-2). However, this trend has reversed in the current fiscal year with FII investments largely concentrated in the debt segment (Rs 1.3trn) compared to lower inflows in the equity segment (Rs116bn). The global turmoil has deeply impact equity markets, especially emerging markets. On the other hand, higher bond yields, improved economic sentiment and a stable rupee have attracted FII investors towards the bond market. Apart from this, investor confidence was also renewed after rating agency, S&P upgraded India s sovereign rating from negative to stable in September. Usually, FIIs prefer government bonds, as 98% of the upper cap limit for Govt. bonds was already utilized in November 2017.

3 83 Table 7 2: s by FPIs in Equity and Debt Year in Equity in Debt FPIs in Equity in Debt (108,088) (11,048) (1,625) (166) Apr-16 38,904 36, May-16 25,786 (51,714) 386 (770) Jun-16 51,748 (65,056) 771 (964) Jul ,390 69,652 1,690 1,037 Aug-16 97,856 (29,491) 1,463 (441) Sep-16 93, ,770 1,401 1,589 Oct-16 (49,901) (71,519) (746) (1,072) Nov-16 (177,370) (196,031) (2,611) (2,867) Dec-16 (84,948) (189,025) (1,250) (2,781) Jan-17 (467) (26,114) (6) (382) Feb-17 99,020 59,600 1, Mar , ,550 5,141 3, ,442 (103,923) 8,388 (1,217) Apr-17 23, ,640 (345) 2,998 May-17 77, ,550 1,542 3,138 Jun-17 36, , ,977 Jul-17 51, , ,893 Aug-17 (127,700) 154,470 (1,732) 2,380 Sep-17 (113,920) 13,490 (1,656) 164 Oct-17 30, , ,757 Nov ,280 5,310 2,952 (221) Dec-17 (58,830) 23,500 (739) 379 Apr-Dec ,210 1,198,120 1,316 18,466 Source: NSDL, Bloomberg Number of FPIs The number of SEBI-registered FPIs increased significantly from 4,311 in FY16 to 7,807 in FY17, but total number of FPIs (including deemed FPIs) increased only marginally from 8,717 to 8,781 over the same period. This was led by a large drop in number of deemed FIIs and sub-accounts as seen by the reducing gap between the total FPIs and registered FPIs. (Chart 7-1).

4 Turnover of FPIs: Equity and Derivatives Equity Market In FY17, the gross turnover of FPIs in the equity market segment on the major Indian stock exchanges (NSE and the BSE) was Rs 20.8trn, a drop of 5% from the previous year. And, the ratio of FII equity turnover to total turnover for both the exchanges (NSE and BSE) was down to 20.6 percent in FY17, reflecting a slight decline from 22.0 percent recorded in the previous year (Table 7-3 and Chart 7-2). Table 7 3: Gross Turnover of FPIs in Equity Market Segment of NSE and BSE Year Buy Value Buy Value Sell Value Sell Value Gross Turnover of FPIs Gross Turnover of FPIs US$ mn Total Turnover on Exchanges Total Turnover on Exchanges FPI turnover to total turnover (%) ,715, ,803 6,614, ,140 14,330, ,943 93,648,733 2,097, ,370, ,531 5,933, ,982 12,324, ,922 69,567,816 1,359, ,985, ,490 5,585, ,732 12,396, ,015 65,141,071 1,198, ,741, ,163 6,944, ,865 13,687, ,365 66,603,060 1,111, ,461, ,470 10,348, ,259 21,810, , ,690,007 1,695, ,867, ,835 11,009, ,971 21,916, ,399 99,545,560 1,500, ,550, ,038 10,284, ,951 20,834, , ,140,216 1,553, Derivative Market On the other hand, the turnover for derivatives rose sharply by 70% yoy, with FII turnover at Rs 260 trn in FY17. The FPI turnover constituted 13.7 percent of the total turnover in the F&O segment in the Indian capital markets during the same period. (Table 7-4 and Chart 7-2).

5 85 Table 7 4: FII Turnover in F&O Market Segment of NSE Year Buy Side Sell side Gross contracts traded Contracts (mn) Contracts (mn) Contracts (mn) Gross Turnover of FHs (US$mn) F&O Turnover FII Turnover to total F& O turnover , , , ,066 11, , , , ,228 12, ,287 1, ,511 1, , ,112,129 18, ,236 1, ,837 1, ,072 2,308 1,296,517 19, ,170 1, ,996 1, ,466 3,985 1,887,406 28, Source: NSE Offshore Derivative Instruments (ODIs) Offshore derivative instruments include participatory notes, equity-linked notes, capped return notes, investment notes, and similar instruments issued by FPIs/sub-accounts outside India against their underlying investments in India, which are listed or are proposed to be listed on a stock exchange in India. Participatory Notes or P-Notes (as they are called in common parlance) are the most common type of ODIs. P-Notes are financial instruments used by investors that are not registered with the Securities and Exchange Board of India (SEBI) to invest in the Indian stock market. P-Notes have Indian shares or derivatives as underlying assets and, the holders of P-Notes are entitled to the income or capital appreciation from such investment. P-Notes are issued by brokers and FPIs registered with SEBI. The investment is made on behalf of the foreign investors by the already registered brokers and FPIs in India. Any dividends or capital gains arising from the underlying securities accrue to the foreign investors. The foreign investor pays the P-Note issuer a certain basis point(s) of the value of P-Notes traded by him (her) as cost(s).

6 86 While popular during initial phase, ODIs have lost their charm over time. The share of ODIs in the assets under custody of FPIs has witnessed a continuous fall after reaching a peak in June 2007, as tightening of regulations by SEBI has made it difficult to use these instruments. In a recent move, SEBI has banned P-notes on derivatives with the exception that the P-note would be used for hedging purpose and underlying shares are held by FPIs. Where the said underlying derivatives position are not for purpose of hedging the equity shares held by it, the ODI issuing FPI has to liquidate such ODIs latest by the date of maturity of the ODI instrument or by December 31, In the case of issuance of fresh ODIs with derivatives as underlying, a certificate has to be issued by the compliance officer (or equivalent) of the ODI issuing FPI, certifying that the derivatives position, on which the ODI is being issued, is only for hedging the equity shares held by it, on a one to one basis. As of December 2017, the total value of ODIs with underlying Indian securities as a percentage of assets under custody of FPIs has declined to 4.6 percent from 10 percent in March 2016 (Table 7-5). Table 7 5: Total Value of ODIs compared to Assets under Management of FPIs Year/ Month ODIs on Equity, Debt & Derivatives ODIs on Equity & Debt excluding Derivatives Assets Under Custody of FPIs/ Deemed FPIs ODIs on Equity, Debt & Derivatives as % of Assets Under Custody of FPIs/Deemed FPIs ODIs on Equity & Debt excluding Derivatives as % of Assets Under Custody of FPIs/ Deemed FPIs ,20,780 21,16,050 2,41,18, ,30,770 16,94,700 2,22,45, ,84,370 12,42,770 2,70,57, $ 1,52,24,30 14,92,430 3,28,02, Apr-17 16,85,450 12,83,800 2,78,60, May-17 18,07,180 13,30,450 2,85,66, Jun-17 16,52,410 13,27,850 2,88,31, Jul-17 13,52,970 12,70,750 3,05,59, Aug-17 12,50,370 11,63,930 3,03,55, Sep-17 12,26,840 11,37,060 3,00,34, Oct-17 13,10,060 12,06,290 3,17,01, Nov-17 12,86,390 12,35,670 3,18,83, Dec-17 1,52,24,30 14,92,430 3,28,02, Notes: 1. Figures are compiled based on reports submitted by FPIs/deemed FPIs issuing ODIs. 2. Column 4 Figures are compiled on the basis of reports submitted by custodians & does not includes positions taken by FPIs/deemed FPIs in derivatives. 3. The total value of ODIs excludes the unhedged positions & portfolio hedging positions taken by the FPIs/deemed FPIs issuing ODIs.$ indicates as on December 31, 2017 Further, among major economies, US has the highest assets under custody in the equity segment for the year 2017, while Singapore has the highest number of assets in debt and hybrid securities. However, on an overall basis, US has the highest assets under custody.

7 87 Table 7-6: Assets under Custody 2017: Top 10 Countries Sr. No. Country AUC Equity Debt Hybrid Total Share (%) 1 US 9,820, ,230 3,160 10,460, Mauritus 4,969, ,980 1,610 5,475, Luxembourg 2,485, , ,168, Singapore 1,997,580 1,245,480 10,540 3,253, UK 1,462,860 43,290 1,950 1,508, Japan 902, ,210-1,130, Canada 846,550 65, , Ireland 874,550 49, , France 646,600 26,250 2, , Netherlands 530, , , Others 3,707, ,730 6,190 4,555, Total 28,243,860 4,532,670 26,300 32,802, Source: NSDL

CONSULTATION PAPER On streamlining the process of monitoring of Offshore Derivative Instruments (ODIs)/Participatory Notes (PNs)

CONSULTATION PAPER On streamlining the process of monitoring of Offshore Derivative Instruments (ODIs)/Participatory Notes (PNs) CONSULTATION PAPER On streamlining the process of monitoring of Offshore Derivative Instruments (ODIs)/Participatory Notes (PNs) A. Background 1. SEBI had set out Conditions for issuance of Offshore Derivative

More information

Trading in India. The Status Quo. Anshuman Jaswal Senior Analyst, Celent

Trading in India. The Status Quo. Anshuman Jaswal Senior Analyst, Celent Trading in India The Status Quo Anshuman Jaswal Senior Analyst, Celent Roadmap Brief look at equity, bond and derivative markets Level of electronic trading DMA and Algorithmic trading Industry evolution

More information

Amount raised from Primary Market. Turnover in Secondary Market

Amount raised from Primary Market. Turnover in Secondary Market ISMR Debt Market 70 5. Debt Market Introduction 1 The debt market in India consists of mainly two categories the government securities or the g-sec markets comprising central government and state government

More information

Headline Verdana Bold. Union Budget 2018 Understanding the impact on Foreign Portfolio Investors

Headline Verdana Bold. Union Budget 2018 Understanding the impact on Foreign Portfolio Investors Headline Verdana Bold Union Budget 2018 Understanding the impact on Foreign Portfolio Investors Forward The Indian Finance Minister presented the Union Budget 2018 today. The budget was presented against

More information

OECD-ADBI Roundtable on Capital Market Reform in Asia, Tokyo. Session Measures taken by supervisors or regulators short selling restrictions

OECD-ADBI Roundtable on Capital Market Reform in Asia, Tokyo. Session Measures taken by supervisors or regulators short selling restrictions OECD-ADBI Roundtable on Capital Market Reform in Asia, Tokyo Session 3.1.2 Measures taken by supervisors or regulators short selling restrictions 2 March 2009 Keith Lui, Executive Director, Securities

More information

IFLR India Awards "Team of the Year" in the Indian Investment Banks category. Primary and Secondary Issuance Process

IFLR India Awards Team of the Year in the Indian Investment Banks category. Primary and Secondary Issuance Process IFLR India Awards 2011 - "Team of the Year" in the Indian Investment Banks category Primary and Secondary Issuance Process May 2012 Table of Contents Section 1 Section 2 Capital Markets Overview Trends

More information

Amount raised from Primary Market. Turnover in Secondary Market

Amount raised from Primary Market. Turnover in Secondary Market ISMR Debt Market 64 5. Debt Market Introduction The debt market in India consists of mainly two categories the government securities or the g-sec markets comprising central government and state government

More information

PRESS RELEASE. Securities issued by Hungarian residents and breakdown by holding sectors. April 2016

PRESS RELEASE. Securities issued by Hungarian residents and breakdown by holding sectors. April 2016 10 June 2016 PRESS RELEASE Securities issued by Hungarian residents and breakdown by holding sectors April 2016 According to securities statistics data, the amount outstanding of equity securities and

More information

IGI Life. Funds Performance Report February IGI Life Insurance Limited

IGI Life. Funds Performance Report February IGI Life Insurance Limited IGI Life Funds Performance Report February 2019 IGI Life Insurance Limited FUND MANAGER REPORT July 2015 Macro Review and Outlook: Headline inflation at +8.2% above market consensus CPI Inflation On the

More information

Financial & Business Highlights For the Year Ended June 30, 2017

Financial & Business Highlights For the Year Ended June 30, 2017 Financial & Business Highlights For the Year Ended June, 17 17 16 15 14 13 12 Profit and Loss Account Operating Revenue 858 590 648 415 172 174 Investment gains net 5 162 909 825 322 516 Other 262 146

More information

ADDITIONAL SHAREHOLDER INFORMATION

ADDITIONAL SHAREHOLDER INFORMATION ADDITIONAL SHAREHOLDER INFORMATION ANNUAL GENERAL MEETING Date: Tuesday, July 29, 2014 Time: 2.00 p.m. Venue: The Music Academy New No. 168 (Old No. 306), T.T.K. Road, Royapettah, Chennai - 600 014. FINANCIAL

More information

January 27, 2012 THE CBK WEEKLY BULLETIN

January 27, 2012 THE CBK WEEKLY BULLETIN January 27, 2012 Highlights for the Week THE CBK WEEKLY BULLETIN The money market liquidity was tight during the week ending January 25, 2012. The Central Bank mopped Ksh 0.6 billion in the repo market

More information

India: New paradigm for foreign investors

India: New paradigm for foreign investors Mar-07 Sep-07 Mar-08 Sep-08 Mar-09 Sep-09 Mar-10 Sep-10 Mar-11 Sep-11 Mar-12 Sep-12 Mar-13 Sep-13 Mar-14 Sep-14 Mar-15 Sep-15 Mar-16 In focus Treasury Research Group October 30, 2006 For private circulation

More information

Economic Outlook: Global and India. Ajit Ranade IEEMA T & D Conclave December 12, 2014

Economic Outlook: Global and India. Ajit Ranade IEEMA T & D Conclave December 12, 2014 Economic Outlook: Global and India Ajit Ranade IEEMA T & D Conclave December 12, 2014 Global scenario US expected to drive global growth in 2015 Difference from % YoY Growth October Actual October Projections

More information

XML Publisher Balance Sheet Vision Operations (USA) Feb-02

XML Publisher Balance Sheet Vision Operations (USA) Feb-02 Page:1 Apr-01 May-01 Jun-01 Jul-01 ASSETS Current Assets Cash and Short Term Investments 15,862,304 51,998,607 9,198,226 Accounts Receivable - Net of Allowance 2,560,786

More information

Monthly Mutual Fund Report

Monthly Mutual Fund Report July, Monthly Mutual Fund Report Statistics for May-June Sales and Redemptions Total assets for all funds increased in May by $9. billion, or., to $.7 trillion. Money market funds had a net cash outflow

More information

The equity derivatives market: The state of the art

The equity derivatives market: The state of the art The equity derivatives market: The state of the art Susan Thomas susant@igidr.ac.in http://www.igidr.ac.in/~susant August 11, 2001 Turnover Page 1 of 19 Goals Index futures Index options Stock options

More information

Equity Update October 2018

Equity Update October 2018 Market Overview (as on September 28, 2018) Flows Sept-18 Aug-18 July-18 FIIs (Net Purchases / Sales) (Rs cr) MFs (Net Purchases / Sales) (Rs cr) Domestic Markets Macro Indicators GDP (YoY%) IIP (YoY%)

More information

IGI Life. Funds Performance Report January IGI Life Insurance Limited

IGI Life. Funds Performance Report January IGI Life Insurance Limited IGI Life Funds Performance Report January 2019 IGI Life Insurance Limited July 2015 Macro Review and Outlook: Headline inflation at +7.2% above market consensus CPI Inflation On the domestic macroeconomic

More information

Strategy Report 2017

Strategy Report 2017 Dimantha Mathew Head of Research Strategy Report 2017 SRI LANKA Uncertainty provides volatility; Hope in 2H2017 Table of Contents 2 1.0 Track Record 3 2.0 GDP Growth Outlook 2017... 8 3.0 Factors to Consider

More information

CMP (Rs) 775 Upside/ (Downside) (%) (1.4) Market Cap. (Rs bn) 11.4 Free Float (%) 35.0 Shares O/S (mn) 14.7

CMP (Rs) 775 Upside/ (Downside) (%) (1.4) Market Cap. (Rs bn) 11.4 Free Float (%) 35.0 Shares O/S (mn) 14.7 2QFY18 Result Update November 23, 2017 Market Cap. (Rs bn) 11.4 Free Float (%) 35.0 Shares O/S (mn) 14.7 High Order Book Provides Revenue Visibility (PMPL) has delivered a healthy performance in 2QFY18.

More information

JUBILEE LIFE INSURANCE COMPANY LTD INVESTORS' OUTLOOK

JUBILEE LIFE INSURANCE COMPANY LTD INVESTORS' OUTLOOK JUBILEE LIFE INSURANCE COMPANY LTD INVESTORS' OUTLOOK FOR THE MONTH OF JANUARY 2018 Jan-17 Feb-17 Mar-17 Apr-17 May-17 Jun-17 Jul-17 Aug-17 Sep-17 Oct-17 Nov-17 Dec-17 Jan-18 INVESTORS' OUTLOOK ECONOMY

More information

Markets at a Glance. India Q2 CY For Distributors use only

Markets at a Glance. India Q2 CY For Distributors use only Markets at a Glance India Q CY 17 For Distributors use only India Macro Economy Trade Inflation Monetary Sector Valuations Liquidity Macro Economy GDP Emerging vs Developed (In % YoY) Credit Growth vs

More information

Nestlé India Outlook Hazy; Valuations Prohibitive

Nestlé India Outlook Hazy; Valuations Prohibitive Nestlé India Outlook Hazy; Valuations Prohibitive Nestlé India s net sales, EBITDA and net profit surged by 35% yoy, 67% yoy & 116% yoy to Rs23.5bn, Rs4.5bn & Rs2.7bn, respectively in 3QCY16. This growth

More information

an Context Largestconsumerofgoldintheworldd one-fourth of the world s total consumption

an Context Largestconsumerofgoldintheworldd one-fourth of the world s total consumption Sovereign Gold Bond Global Experience and Suggestions for India Gold -India an Context Largestconsumerofgoldintheworldd one-fourth of the world s total consumption consumers in India have bought almost

More information

Research Department Bangladesh Bank

Research Department Bangladesh Bank Capital Market Developments in Bangladesh* January-March, 2017 Research Department Bangladesh Bank *Prepared by Special Studies Division, Research Department, Bangladesh Bank (Central Bank of Bangladesh).

More information

4th - Asian Fixed Income Summit Investing in Asia s Fixed Income Market

4th - Asian Fixed Income Summit Investing in Asia s Fixed Income Market 4th - Asian Fixed Income Summit Investing in Asia s Fixed Income Market September 217 Derek Armstrong Credit Suisse Head of Debt Capital Markets, Asia Pacific These materials may not be used or relied

More information

Theviewsexpresedinthesepapersandpresentationsarethoseoftheauthor(s)only,and

Theviewsexpresedinthesepapersandpresentationsarethoseoftheauthor(s)only,and Theviewsexpresedinthesepapersandpresentationsarethoseoftheauthor(s)only,and thepresenceofthem,oroflinkstothem,ontheimfwebsitedoesnotimplythattheimf,its ExecutiveBoard,oritsmanagementendorsesorsharestheviewsexpresedinthepapersor

More information

QUESTION 2. QUESTION 3 Which one of the following is most indicative of a flexible short-term financial policy?

QUESTION 2. QUESTION 3 Which one of the following is most indicative of a flexible short-term financial policy? QUESTION 1 Compute the cash cycle based on the following information: Average Collection Period = 47 Accounts Payable Period = 40 Average Age of Inventory = 55 QUESTION 2 Jan 41,700 July 39,182 Feb 18,921

More information

Table of contents. Slide No. Meaning Of Derivative 3. Specifications Of Futures 4. Functions Of Derivatives 5. Participants 6.

Table of contents. Slide No. Meaning Of Derivative 3. Specifications Of Futures 4. Functions Of Derivatives 5. Participants 6. Derivatives 1 Table of contents Slide No. Meaning Of Derivative 3 Specifications Of Futures 4 Functions Of Derivatives 5 Participants 6 Size Of Market 7 Available Future Contracts 9 Jargons 10 Parameters

More information

Market Outlook. Nifty % Sensex %

Market Outlook. Nifty % Sensex % Market Outlook 22000 BSE NSE 6500 Key Indices 30-Apr-13 31-Mar-13 % Change 21000 20000 19000 18000 17000 16000 15000 6000 5500 5000 4500 4000 3500 Nifty 5930.20 5682.55 4.36% Sensex 19504.18 18835.77 3.55%

More information

Indian Economy. Global Economy

Indian Economy. Global Economy December 19, 2011 1 2 Indian Economy *Foreign Investments Inflow Trends: Foreign inflows trend has been mixed so far in April-October 2011 period. While foreign direct investments have been higher by 57%

More information

Looking at a Variety of Municipal Valuation Metrics

Looking at a Variety of Municipal Valuation Metrics Looking at a Variety of Municipal Valuation Metrics Muni vs. Treasuries, Corporates YEAR MUNI - TREASURY RATIO YEAR MUNI - CORPORATE RATIO 200% 80% 175% 150% 75% 70% 65% 125% Average Ratio 0% 75% 50% 60%

More information

CMP* (Rs) 208 Upside/ (Downside) (%) 18. Market Cap. (Rs bn) Free Float (%) 65.6 Shares O/S (mn) 630

CMP* (Rs) 208 Upside/ (Downside) (%) 18. Market Cap. (Rs bn) Free Float (%) 65.6 Shares O/S (mn) 630 1QFY18 Result Update July 28,2017 CMP* (Rs) 208 Bloomberg Ticker CROMPTON IN Market Cap. (Rs bn) 130.6 Free Float (%) 65.6 Shares O/S (mn) 630 Channel De-stocking Impairs Top-line; Recovery Ahead Crompton

More information

INDIAN OIL CORPORATION LIMITED RESEARCH

INDIAN OIL CORPORATION LIMITED RESEARCH RESULTS REVIEW Indian Oil Corporation Ltd. Hold Share Data Market Cap Rs. 439.99 bn Price Rs. 369.0 BSE Sensex 15,185.32 Reuters Bloomberg Avg. Volume (52 Week) IOC.BO IOCL IN 0.19 mn 52-Week High/Low

More information

CMP* (Rs) 336 Upside/ (Downside) (%) 21 Bloomberg Ticker. MOIL IN Market Cap. (Rs bn) 45 Free Float (%) 24 Shares O/S (mn) 133

CMP* (Rs) 336 Upside/ (Downside) (%) 21 Bloomberg Ticker. MOIL IN Market Cap. (Rs bn) 45 Free Float (%) 24 Shares O/S (mn) 133 4QFY17 Result Update June 06, 2017 Market Cap. (Rs bn) 45 Free Float (%) 24 Shares O/S (mn) 133 Mixed Quarterly Performance; Volume to Remain Strong has reported a mixed performance in 4QFY17. Its blended

More information

Participate in one of the key drivers of Growth & Development in India

Participate in one of the key drivers of Growth & Development in India Participate in one of the key drivers of Growth & Development in India DATE OF ALLOTMENT December 28, 2015 BENCHMARK Nifty Financial Services TRI (WEF From 1st February 2018) FUND SIZE Rs.261.73 (Rs. in

More information

CBK Weekly Statistical Bulletin of Key Monetary and Financial Indicators

CBK Weekly Statistical Bulletin of Key Monetary and Financial Indicators JANUARY 13, 2017 Highlights The money market was relatively tight during the week ending January 11, 2017. The average interbank rate was stable at 7.54 percent in the week ending January 11, 2017 compared

More information

Evaluating Role of Foreign Institutional Investors and Mutual Funds in Changing Market Scenario

Evaluating Role of Foreign Institutional Investors and Mutual Funds in Changing Market Scenario Evaluating Role of Foreign Institutional Investors and Mutual Funds in Changing Market Scenario Arvind Luhar 1 and Kedar Bhide 2 1 HOD, Accountancy, Ismail Yusuf College, Mumbai Email: luhararvind@rediffmail.com

More information

Aims to achieve the right blend of Growth and Tax Saving

Aims to achieve the right blend of Growth and Tax Saving Aims to achieve the right blend of Growth and Tax Saving DATE OF ALLOTMENT March 31,1996 BENCHMARK S&P BSE Sensex FUND SIZE Rs.981.23 (Rs. in Cr.) MONTHLY AVERAGE AUM Rs.939.37 (Rs. in Cr.) EXIT LOAD Nil

More information

Monthly Market Outlook December Equities Invest in Equities for the long-run Fixed Income The appeal remains intact

Monthly Market Outlook December Equities Invest in Equities for the long-run Fixed Income The appeal remains intact Monthly Market Outlook December 2015 Equities Invest in Equities for the long-run Fixed Income The appeal remains intact Returns' (%) Source: MFI; Date ending on November 30, 2015 Global Performance Countries

More information

PRESS RELEASE. Securities issued by Hungarian residents and breakdown by holding sectors. January 2019

PRESS RELEASE. Securities issued by Hungarian residents and breakdown by holding sectors. January 2019 7 March 2019 PRESS RELEASE Securities issued by Hungarian residents and breakdown by holding sectors January 2019 According to securities statistics, the amount outstanding of equity securities and debt

More information

2018 The year of promise

2018 The year of promise 2018 The year of promise January 2018 Tushar Pradhan, Chief Investment Officer We have come a long way in 2017 Source: Kotak Institutional Equities Dec 2017 Key events and performance of the Indian market

More information

BUY NCC. An Ordinary Quarterly Performance; Maintain BUY. Target Price: Rs98. Institutional Equity Research. 4QFY17 Result Update May 24, 2017

BUY NCC. An Ordinary Quarterly Performance; Maintain BUY. Target Price: Rs98. Institutional Equity Research. 4QFY17 Result Update May 24, 2017 4QFY17 Result Update May 24, 2017 Market Cap. (Rs bn) 46 Free Float (%) 80 Shares O/S (mn) 556 An Ordinary Quarterly Performance; Maintain s reported performance has come in below the expectation as dismal

More information

CMP* (Rs) 1,033 Upside/ (Downside) (%) (0.3) Bloomberg Ticker Market Cap. (Rs bn) 467 Free Float (%) 53 Shares O/S (mn) 452

CMP* (Rs) 1,033 Upside/ (Downside) (%) (0.3) Bloomberg Ticker Market Cap. (Rs bn) 467 Free Float (%) 53 Shares O/S (mn) 452 2QFY18 Result Update October 31, 2017 Market Cap. (Rs bn) 467 Free Float (%) 53 Shares O/S (mn) 452 US Biz to Remain Weak; Maintain Led by weak performance in the US markets, (LPC) has delivered a weak

More information

Titan Company BUY. Back to Value Zone Validate Rating Upgrade. Institutional Equity Research. November 05, Target Price Rs428.

Titan Company BUY. Back to Value Zone Validate Rating Upgrade. Institutional Equity Research. November 05, Target Price Rs428. CMP* (Rs) 369 Market Cap. (Rs bn) 328 Free Float (%) 47 Shares O/S (mn) 888 Titan Company Back to Value Zone Validate Rating Upgrade Titan Company delivered decent performance in 2QFY17 despite reporting

More information

Axis Emerging Opportunities Fund Series 1 A Close-Ended Equity Fund (1400 days)

Axis Emerging Opportunities Fund Series 1 A Close-Ended Equity Fund (1400 days) 1 Axis Emerging Opportunities Fund Series 1 A Close-Ended Equity Fund (1400 days) Indian Policy Update Demonetisation & GST 2 1 Government policy changes Get ready for structurally higher tax to GDP Demonetisation

More information

Attachment A Financial Markets & Debt Portfolio Update October 21, 2016 Introduction Public Financial Management Inc. (PFM), financial advisor to the

Attachment A Financial Markets & Debt Portfolio Update October 21, 2016 Introduction Public Financial Management Inc. (PFM), financial advisor to the Attachment A Financial Markets & Debt Portfolio Update October 21, 2016 Introduction Public Financial Management Inc. (PFM), financial advisor to the Contra Costa Transportation Authority (CCTA) has prepared

More information

2011 MARKET REVIEW & 2012 OUTLOOK

2011 MARKET REVIEW & 2012 OUTLOOK 2011 MARKET REVIEW & 2012 OUTLOOK Presented by Oscar N. Onyema CEO, The Nigerian Stock Exchange 23 January, 2012 23/01/2012 The Nigerian Stock Exchange 1 Outline Economic Review 2011 Market Review 2011

More information

PUBLIC DEBT MANAGEMENT QUARTERLY REPORT JANUARY-MARCH 2018

PUBLIC DEBT MANAGEMENT QUARTERLY REPORT JANUARY-MARCH 2018 PUBLIC DEBT MANAGEMENT QUARTERLY REPORT JANUARY-MARCH 2018 GOVERNMENT OF INDIA MINISTRY OF FINANCE BUDGET DIVISION DEPARTMENT OF ECONOMIC AFFAIRS JUNE 2018 www.dea.gov.in ii CONTENTS Section Page No. Introduction

More information

SALIENT FEATURES OF SEBI (FOREIGN PORTFOLIO INVESTORS) REGULATIONS, 2014

SALIENT FEATURES OF SEBI (FOREIGN PORTFOLIO INVESTORS) REGULATIONS, 2014 SALIENT FEATURES OF SEBI (FOREIGN PORTFOLIO INVESTORS) REGULATIONS, 2014 The Securities and Exchange Board of India has made regulations to put in place a framework for registration and procedures with

More information

BSE 500 (Ex-Financials) - Median Sales Growth. Dec-07. Jun-09. Dec-08. Dec-06. Jun-07. Jun-08. YoY Sales Growth Average +2 SD +1 SD -1 SD -2 SD

BSE 500 (Ex-Financials) - Median Sales Growth. Dec-07. Jun-09. Dec-08. Dec-06. Jun-07. Jun-08. YoY Sales Growth Average +2 SD +1 SD -1 SD -2 SD Date: 4 th July 2016 Dear Investors, Below is the performance of the Moats & Special Situations Portfolio (MSSP) as of 30 th June 2016. Portfolio Performance Equity Allocation as on 30.06.2016 Total Portfolio

More information

SIEMENS INDIA LIMITED RESEARCH

SIEMENS INDIA LIMITED RESEARCH RESULTS REVIEW Siemens India Limited Hold Share Data Market Cap Rs. 196.1 bn Price Rs. 581.6 BSE Sensex 14,961.07 Reuters Bloomberg Avg. Volume (52 Week) SIEM.BO SIEM IN 0.2 mn 52-Week High/Low Rs. 1,142.5

More information

January 25, 2017 Financial Markets & Debt Portfolio Update Contra Costa Transportation Authority Introduction Public Financial Management Inc. (PFM),

January 25, 2017 Financial Markets & Debt Portfolio Update Contra Costa Transportation Authority Introduction Public Financial Management Inc. (PFM), January 25, 2017 Introduction Public Financial Management Inc. (PFM), financial advisor to the (CCTA) has prepared the following report as an update of market conditions through December 30, 2016. The

More information

Mutual Fund Screener For the quarter ended Dec-17

Mutual Fund Screener For the quarter ended Dec-17 Mutual Fund Screener For the quarter ended Dec-17 Mutual Fund Screener What s Inside 01 Industry Size 02 Investor Trends 03 Inflow Outflow Analysis 04 Sector Update 05 Category Performance 06 Industry

More information

MARUTI SUZUKI INDIA LTD RESEARCH

MARUTI SUZUKI INDIA LTD RESEARCH EQUITY November 17, 2008 RESULTS REVIEW Maruti Suzuki India Limited Hold Share Data Market Cap Rs. 158.8 bn Price Rs. 549.80 BSE Sensex 9,291.01 Reuters Bloomberg Avg. Volume (52 Week) MRTI.BO MSIL IN

More information

Equity & Debt Strategy

Equity & Debt Strategy Equity & Debt Strategy Mid June - July 2 Equity Market Update & Equity MF Strategy Nifty continue to rally although Mid/Small cap Stocks corrected Large Cap Outperformed Mid Cap this month Strong Buying

More information

MONTHLY UPDATE NOVEMBER 2018

MONTHLY UPDATE NOVEMBER 2018 MONTHLY UPDATE NOVEMBER 2018 November 2018 A champion is defined not by their wins but by how they can recover when they fall. Equity markets - Serena Williams Indices 31 st Oct 2018 30 th Nov 2018 1 Month

More information

4. MACQUARIE SECURITIES GROUP

4. MACQUARIE SECURITIES GROUP 4. MACQUARIE SECURITIES GROUP Roy Laidlaw Group Head Macquarie Group Limited Operational Briefing 5 February 2009 Presentation to Investors and Analysts 49 Three Divisions Macquarie Securities Group Sales

More information

ABI MONTHLY REPORT 1 March 2018 (Main evidence)

ABI MONTHLY REPORT 1 March 2018 (Main evidence) ABI MONTHLY REPORT 1 March 2018 (Main evidence) LOANS AND DEPOSITS 1. In February 2018, loans to customers granted by banks operating in Italy, totalling 1,777.2 billion euro (cf. Table 1) was almost 70

More information

IGI Life. Funds Performance Report January 2018

IGI Life. Funds Performance Report January 2018 IGI Life Funds Performance Report January 2018 IGI Life Insurance Limited FUND MANAGER REPORT July 2015 Macro Review and Outlook: CPI inflation clocks in at +4.42%YoY; Food prices gain steam As per the

More information

INDIAN CAPITAL MARKET- BY ANMI (India)

INDIAN CAPITAL MARKET- BY ANMI (India) INDIAN CAPITAL MARKET- BY ANMI (India) 1) ANMI is a pan India association comprising of the trading members across India like National Stock Exchange (NSE), Bombay Stock Exchange (BSE) and other exchanges

More information

In Rs. Lakh Crore Spread (%) Nov-16 Feb-17 May-17 Aug-17 Nov-17 Feb-18 May-18

In Rs. Lakh Crore Spread (%) Nov-16 Feb-17 May-17 Aug-17 Nov-17 Feb-18 May-18 In Rs. Lakh Crore Spread (%) A Dislocated Bond Market What does it mean for investors? Since the release of the RBI monetary policy committee minutes on 19 th April 2018, bond yields have spiked. The benchmark

More information

Equity & Debt Strategy

Equity & Debt Strategy Equity & Debt Strategy Mid Aug Sept 2 Equity Market Update & Equity MF Strategy Nifty was up 6% in July post good results by HDFC Bank and Reliance Both Large and Mid Cap index did well in July Both FII

More information

PRESS RELEASE. Securities issued by Hungarian residents and breakdown by holding sectors. October 2018

PRESS RELEASE. Securities issued by Hungarian residents and breakdown by holding sectors. October 2018 PRESS RELEASE 10 December 2018 Securities issued by Hungarian residents and breakdown by holding sectors October 2018 According to securities statistics, the amount outstanding of equity securities and

More information

Think Of Us Before You Invest

Think Of Us Before You Invest Think Of Us Before You Invest DATE OF ALLOTMENT March 31,1996 BENCHMARK S&P BSE Sensex FUND SIZE Rs.679.21 (Rs. in Cr.) MONTHLY AVERAGE AUM Rs.668.51 (Rs. in Cr.) EXIT LOAD Nil (Compulsory lock-in period

More information

Reviewing Macro-economic Developments and Understanding Macro-Economic Policy

Reviewing Macro-economic Developments and Understanding Macro-Economic Policy MINISTRY OF FINANCE GOVERNMENT OF INDIA Reviewing Macro-economic Developments and Understanding Macro-Economic Policy Module 5 Contemporary Themes in India s Economic Development and the Economic Survey

More information

IGI Life. Funds Performance Report March IGI Life Insurance Limited

IGI Life. Funds Performance Report March IGI Life Insurance Limited IGI Life Funds Performance Report March 20 IGI Life Insurance Limited FUND MANAGER REPORT July 20 Macro Review and Outlook: Headline inflation at +9.4% above market consensus of +8.5% CPI Inflation Domestic

More information

Credit Suisse Swiss Pension Fund Index Q1 2017

Credit Suisse Swiss Pension Fund Index Q1 2017 Credit Suisse Swiss Pension Fund Index Q1 217 YTD 217: 2.76% Q1 217: 2.76% Credit Suisse Pension Fund Index starts year at all-time high Allocation to foreign equities at all-time high; allocation to Swiss

More information

Recent Asia experiences with capital flows

Recent Asia experiences with capital flows Recent Asia experiences with capital flows Rob Subbaraman, Chief Economist Asia Ex-Japan December 2007 Asia ex-japan's total balance of payments % of GDP 10 8 6 4 2 0-2 -4 1996 1997 1998 1999 2000 2001

More information

DIAL Share Information

DIAL Share Information Index Volume 000 140 1 60 40 Jan-17 Feb-17 Mar-17 Apr-17 May-17 Jun-17 Jul-17 Aug-17 Sep-17 Oct-17 Nov-17 Dec-17 ASPI Index S&P SL Index DIAL Index Volume - Figure 1: Share Volumes & Relative Performance

More information

BHARAT FORGE LIMITED RESEARCH

BHARAT FORGE LIMITED RESEARCH EQUITY September 05, 2008 RESULTS REVIEW Share Data Market Cap Rs. 56 bn Price Rs. 250.45 BSE Sensex 14,483.83 Reuters Bloomberg Avg. Volume (52 Week) BFRG.BO BHFC IN 0.1 mn 52-Week High/Low Rs. 389.75/215.05

More information

CMP* (Rs) 417 Upside/ (Downside) (%) 46 Bloomberg Ticker. SUNP IN Market Cap. (Rs bn) 1,001 Free Float (%) 46 Shares O/S (mn) 2399

CMP* (Rs) 417 Upside/ (Downside) (%) 46 Bloomberg Ticker. SUNP IN Market Cap. (Rs bn) 1,001 Free Float (%) 46 Shares O/S (mn) 2399 Company Update January 22, 2019 Market Cap. (Rs bn) 1,001 Free Float (%) 46 Shares O/S (mn) 2399 Multiple Growth Drivers in Place despite Near-term Headwinds Industries (SUNP) has released an investor

More information

HOLD ACC. Strong Performance on Better Volume and Firm Realizations. Target Price: Rs1,640. Institutional Equity Research

HOLD ACC. Strong Performance on Better Volume and Firm Realizations. Target Price: Rs1,640. Institutional Equity Research 2QCY17 Result Update July 18,2017 Market Cap. (Rs bn) 328 Free Float (%) 45 Shares O/S (mn) 188 Strong Performance on Better Volume and Firm Realizations reported better-than-estimated performance in 2QCY17

More information

CBK Weekly Statistical Bulletin of Key Monetary and Financial Indicators

CBK Weekly Statistical Bulletin of Key Monetary and Financial Indicators JANUARY 22, 2016 Highlights The money market was relatively liquid during the week ending January 20, 2016 supported by government payments, redemption of government securities and OMO maturities. The

More information

HOLD. Nestle. Good Performance Irrespective of GST Pangs. Target Price: Rs6,624. Institutional Equity Research. 2QCY17 Result Update July 27,2017

HOLD. Nestle. Good Performance Irrespective of GST Pangs. Target Price: Rs6,624. Institutional Equity Research. 2QCY17 Result Update July 27,2017 2QCY17 Result Update July 27,2017 Market Cap. (Rs bn) 657 Free Float (%) 37.3 Shares O/S (mn) 96 Good Performance Irrespective of GST Pangs Nestlé India has reported a good set of numbers for 2QCY17 in

More information

Credit Suisse Swiss Pension Fund Index Q2 2017

Credit Suisse Swiss Pension Fund Index Q2 2017 Credit Suisse Swiss Pension Fund Index Q2 217 YTD 217: 3.94% Q2 217: 1.15% Positive second quarter, with slowdown in June Significant positive contribution from Swiss equities in reporting quarter Sharp

More information

Wholesale Debt Market Segment 5

Wholesale Debt Market Segment 5 Wholesale Debt Market Segment 5 60 Wholesale Debt Market Segment 5 The Exchange started its trading operations in June 1994 by enabling the Wholesale Debt Market (WDM) segment of the Exchange. This segment

More information

MCX Ltd. Rating: Target price: EPS: Is commodity option a game changer for MCX? - Unlikely. Target. Rating CMP. Rs. 1,080 SELL. Rs.

MCX Ltd. Rating: Target price: EPS: Is commodity option a game changer for MCX? - Unlikely. Target. Rating CMP. Rs. 1,080 SELL. Rs. : price: EPS: Is commodity option a game changer for MCX? - Unlikely In the union budget 2015-16, the Finance Minister announced the much anticipated merger of SEBI and FMC. Given the powers accorded to

More information

Some Historical Examples of Yield Curves

Some Historical Examples of Yield Curves 3 months 6 months 1 year 2 years 5 years 10 years 30 years Some Historical Examples of Yield Curves Nominal interest rate, % 16 14 12 10 8 6 4 2 January 1981 June1999 December2009 0 Time to maturity This

More information

Performance review 9M-FY2019. January 14, 2019

Performance review 9M-FY2019. January 14, 2019 Performance review 9M-FY2019 January 14, 2019 Natural beneficiary of transforming savings environment Leading equity broker in India 1 powered by ICICIdirect Strong online presence aided by pan India distribution

More information

Exports decline 4.7% during Rising rupee a concern for exporters

Exports decline 4.7% during Rising rupee a concern for exporters Exports decline 4.7% during 2009-10 Rising rupee a concern for exporters India s merchandise exports for the fiscal year 2009-10, declined by 4.7% from around US$ 184 billion at the end of 2008-09 to US$

More information

BANK OF GUYANA. BANKING SYSTEM STATISTICAL ABSTRACT Website:

BANK OF GUYANA. BANKING SYSTEM STATISTICAL ABSTRACT Website: BANK OF GUYANA BANKING SYSTEM STATISTICAL ABSTRACT Website: www.bankofguyana.org.gy RESEARCH DEPARTMENT November 2010 STATISTICAL ABSTRACT TABLES CONTENTS 1. MONETARY AUTHORITY 1.1 Bank of Guyana: Assets

More information

Margins(%) EBITDA 30.0% 26.3% 25.4% NPM 26.5% 12.5% 18.1%

Margins(%) EBITDA 30.0% 26.3% 25.4% NPM 26.5% 12.5% 18.1% RESULTS REVIEW Share Data Market Cap Rs. 1,460.7 bn Price Rs. 177.2 BSE Sensex 15,049.86 Reuters NTPC.BO Bloomberg NATP IN Avg. Volume (52 Week) 2.6 mn 52-Week High/Low Rs. 291 / 148.75 Shares Outstanding

More information

CANARA BANK RESEARCH. Canara Bank. EQUITY RESEARCH July 29, 2008 RESULTS REVIEW

CANARA BANK RESEARCH. Canara Bank. EQUITY RESEARCH July 29, 2008 RESULTS REVIEW RESULTS REVIEW Share Data Market Cap Rs. 72.8 mn Price Rs. 177.65 BSE Sensex 13,791.54 Reuters Bloomberg Avg. Volume (52 Week) CNBK.BO CBK IN 0.2 mn 52-Week High/Low Rs. 404.35 / 160.85 Shares Outstanding

More information

Briefing Note on Euro Zone Crisis and its Impact on India July 2012

Briefing Note on Euro Zone Crisis and its Impact on India July 2012 Briefing Note on Euro Zone Crisis and its Impact on India July 2012 Contents Briefing Note on Euro Zone Crisis and its Impact on India Executive summary. 3 Section 1 Global economic scenario 4 Gross Domestic

More information

Wholesale Debt Market Segment 5

Wholesale Debt Market Segment 5 Wholesale Debt Market Segment 5 64 Wholesale Debt Market Segment 5 The Exchange started its trading operations in June 1994 by enabling the Wholesale Debt Market (WDM) segment of the Exchange. This segment

More information

Unrestricted Cash / Board Designated Cash & Investments December 2014

Unrestricted Cash / Board Designated Cash & Investments December 2014 Unrestricted Cash / Board Designated Cash & Investments December 2014 25.0 20.0 21.0 20.8 18.9 19.9 15.0 10.0 11.5 12.8 11.6 9.1 10.4 9.8 11.1 10.2 9.8 17.0 16.8 15.4 14.7 14.2 14.1 13.6 13.0 12.0 10.2

More information

HOLD. Deleveraging story playing out RAMCO CEMENTS. Target Price: Rs 503. Q4 performance

HOLD. Deleveraging story playing out RAMCO CEMENTS. Target Price: Rs 503. Q4 performance RAMCO S HOLD Target Price: Rs 503 Deleveraging story playing out Ramco Cements total debt reduced by a massive Rs 5 bn to Rs 22 bn in FY16. The company generated total EBITDA of Rs 11.5 bn in FY16 and

More information

Equity & Debt Strategy

Equity & Debt Strategy Equity & Debt Strategy Mid Apr May 2 Equity Market Update & Equity MF Strategy Equity markets corrected in Mar on global cues and selling pressure in Mutual Funds due to Dividend payouts Nifty 5 and Midcap

More information

Japan Securities Finance Co.,Ltd

Japan Securities Finance Co.,Ltd Japan Securities Finance Co.,Ltd \ mil ( )ratio of OR Mar-13 Mar-14 Securities Finance Bussiness 14,093 16,363 Margin Loan Business 6,625 9,240 (37.5%) (47.2%) Interest on Loans 1,760 4,012 Interest

More information

CMP* (Rs) 203 Upside/ (Downside) (%) 23. Market Cap. (Rs bn) 116 Free Float (%) 61 Shares O/S (mn) 572

CMP* (Rs) 203 Upside/ (Downside) (%) 23. Market Cap. (Rs bn) 116 Free Float (%) 61 Shares O/S (mn) 572 3QFY19 Result Update February 05, 2019 Market Cap. (Rs bn) 116 Free Float (%) 61 Shares O/S (mn) 572 Strong Performance with Positive Outlook; Maintain (ATL) has reported strong volume performance in 3QFY19.

More information

Participate in the Digital Transformation of India

Participate in the Digital Transformation of India Participate in the Digital Transformation of India DATE OF ALLOTMENT December 28, 2015 BENCHMARK S&P BSE IT TRI FUND SIZE Rs.111.56 (Rs. in Cr.) MONTHLY AVERAGE AUM Rs.90.94 (Rs. in Cr.) EXIT LOAD: 0.25%

More information

CBK Weekly Statistical Bulletin of Key Monetary and Financial Indicators

CBK Weekly Statistical Bulletin of Key Monetary and Financial Indicators MARCH 17, 2017 Highlights The money market was relatively liquid during the week ending March 15, 2017, largely supported by net redemption of government securities. The average interbank rate declined

More information

Division of Bond Finance Interest Rate Calculations. Revenue Estimating Conference Interest Rates Used for Appropriations, including PECO Bond Rates

Division of Bond Finance Interest Rate Calculations. Revenue Estimating Conference Interest Rates Used for Appropriations, including PECO Bond Rates Division of Bond Finance Interest Rate Calculations Revenue Estimating Conference Interest Rates Used for Appropriations, including PECO Bond Rates November 16, 2018 Division of Bond Finance Calculation

More information

ABI MONTHLY REPORT 1 July 2018 (Main evidence)

ABI MONTHLY REPORT 1 July 2018 (Main evidence) ABI MONTHLY REPORT 1 July 2018 (Main evidence) LOANS AND DEPOSITS 1. In June 2018, loans to customers granted by banks operating in Italy, totalling 1,773.8 billion euro (cf. Table 1) was 37 billion higher

More information

Development of Economy and Financial Markets of Kazakhstan

Development of Economy and Financial Markets of Kazakhstan Development of Economy and Financial Markets of Kazakhstan National Bank of Kazakhstan Macroeconomic development GDP, real growth, % 116 112 18 14 1 113,5 11,7 216,7223,8226,5 19,8 19,8 19,3 19,619,7 199,

More information

Factor Leave Accruals. Accruing Vacation and Sick Leave

Factor Leave Accruals. Accruing Vacation and Sick Leave Factor Leave Accruals Accruing Vacation and Sick Leave Factor Leave Accruals As part of the transition of non-exempt employees to biweekly pay, the UC Office of the President also requires standardization

More information

IDBI Bank RESEARCH. EQUITY RESEARCH July 29, 2008

IDBI Bank RESEARCH. EQUITY RESEARCH July 29, 2008 RESULTS REVIEW IDBI Bank Hold Share Data Market Cap Rs. 53.7 bn Price Rs.74.05 BSE Sensex 13,791.54 Reuters IDBI.BO Bloomberg IDBI IN Avg. Volume (52 Week) 2.4 mn 52-Week High/Low 177.7 / 60.6 Shares Outstanding

More information

Illinois Job Index. Growth Rate %

Illinois Job Index. Growth Rate % Illinois Job Index Release Data Issue 03/14/2011 Jan 1990 / Jan 2011 2011.02 www.real.illinois.edu For January Illinois Job Index, the Nation, RMW and the state all had positive job growth. The monthly

More information