Showing posts with label Forex Market. Show all posts
Showing posts with label Forex Market. Show all posts
Wednesday, 31 October 2012
Monday, 6 February 2012
India's forex reserves rise by $673.4 mn
India's foreign exchange reserves increased by $673.4 million to $293.93 billion for the week ended Jan 27, Reserve Bank of India data showed.
The forex reserves have risen for the second week after six straight weeks of decline. They had increased by $731.8 million for the week ended Jan 20 after slumping by $14.25 billion in the previous six weeks.
A strong rally in the Indian equities markets and rebound in the value of rupee on the back of huge inflow of funds from overseas investors have helped in increase in the foreign exchange reserves.
Since the beginning of the year, Indian markets have been riding a firm bull rally. The Sensex has shot up 13.91 percent till Feb 3. The Nifty too has shot up 15.17 percent or 701.55 points in little over a month.
Foreign fund flows have also led to a strong recovery in the value of the rupee, helping alleviate worries of investors. The rupee closed Friday at a 3 month high at 48.68 against the dollar. Strong overseas inflows have also played a big role in the current rally. Since the beginning of the year, foreign institutional investors have pumped in over $2 billion.
Foreign currency assets, the biggest component of the forex reserves kitty, rose by $614.1 million to $260.12 billion for the week ended Jan 27, according to the Reserve Bank of India weekly statistical supplement. The RBI did not provide any reasons for the change in foreign currency assets.
It said the assets expressed in US dollar terms included the effect of appreciation or depreciation of non-US currencies such as the pound sterling, euro and yen held in reserve. The value of special drawing rights (SDRs) rose by $36.8 million to $4.46 billion, and India's reserves with the International Monetary Fund (IMF) increased by $22.5 million to $2.72 billion. However, the value of gold reserves remained unchanged at $26.62 billion.
Source: http://news.in.msn.com/business/article.aspx?cp-documentid=5820987
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Monday, 10 January 2011
Advice for the wise January' 11
Indian equity markets continued to experience significant turbulence in December. While January began on a positive note, profit booking has continued to exert downward pressure on the indices. Our ‘Advice for the Wise’ newsletter for the month of January will give you an outlook across sectors along with economic updates both from a global and domestic perspective.
Saturday, 9 October 2010
Indian equity market holds a lot of opportunities!
India provides tremendous opportunities for financial inclusion via penetration and development in the Indian equity market today, a survey conducted by Nielsen Company said.
The top 5 cities in India contribute 84 per cent to trading in 2009-10, a figure up by 6 per cent from 2001-02. Cash trading volumes from Mumbai and Delhi alone account for 65 per cent of cash trading and 60 per cent of mutual funds volume.
The survey polled 1,207 current and potential retail investors from 12 cities across all geographic zones and levels of development, ages and occupation; 60 corporate, including banks and financial institutions, from the 4 metros and 120 SMEs from clusters in 12 cities throughout India.
There is also a great opportunity to impart financial knowledge. Nearly 94 per cent of retail investors have shown a strong willingness to participate in financial training programmers if they were to be offered in their vicinity.
The survey identified an appreciation of mobile phones as an enabler, a positive perception of competition as delivering better services and lowering trading costs and a desire for receiving financial training across the country. A clear majority of 56 per cent of retail investors across the country see mobile phones as the preferred channel that will likely enable them to participate in the equity market.
Source:Economic Times
Friday, 23 July 2010
SBI raises $1 bn via bonds issue from US markets…
The country's largest public sector lender, State Bank of India, has raised $1 billion (about Rs 4,700 crore) through an issue of bonds to qualified institutional buyers.
State Bank of India, acting through its London Branch, successfully priced an offering of USD one billion of senior unsecured bonds due 2015, the bank said.
"This is a signature deal, despite market turbulence and volatility. In terms of deal size, order book multiple, diversification into new investors in the US, and number and quality of investors, we achieved our objectives with this issuance,"
"We believe the success of this transaction will also allow Indian issuers to more easily access the US markets," SBI Chairman O P Bhatt said.
SBI's debut issuance allows it to broaden its debt investor base and to access large, highly capitalised US institutional investors in the private placement market, the bank official added.
The offering was priced at a coupon rate of 4.50 per cent per annum. In terms of allocations, US-based investors received 55 per cent of the allocation while Asian investors were allocated 28 per cent and the balance 17 per cent across European investors.
In terms of investor type, asset and fund managers subscribed for 63 per cent of the deal, commercial and investment banks subscribed for 9 per cent, private banks subscribed for 15 per cent and insurance/pension funds subscribed for 4 per cent.
Strong interest from the US-based investors underscores SBI's strong credit profile and its position as India's largest bank.
Source: PTI News
Thursday, 1 July 2010
Parkway battle hots up as Fortis eyes $3.1 bln Deal
Fortis(FOHE.BO), which controls just over 25 percent of Parkway, had intended to build a controlling stake in the firm before Khazanah made a surprise $835 million partial offer to lift its stake to 51.5 percent.
Controlled by billionaire brothers Malvinder Singh and Shivinder Singh, Fortis is offering to buy shares it doesn't already own in Parkway for S$3.80 a share, or 2 Singapore cents more than the S$3.78 offered by Khazanah.
The offer price is a slim premium to Parkway's last traded price of S$3.57. Parkway shares are suspended from trading.
The offer is conditional on Fortis getting at least 50 percent of the Singapore firm. Fortis shares rose as much as 3 percent on Thursday morning after an initial drop.
Both Fortis and Khazanah want to use Parkway, which runs 16 hospitals across Asia including Singapore, Malaysia, India and China to spearhead their regional expansion in healthcare.
Parkway's prized assets are Singapore hospitals, Gleneagles and Mount Elizabeth, whose patients include many wealthy businessmen and politicians.
An adviser for Fortis said the firm has already lined up financing for the bid.
With a combined fortune estimated at $3 billion by Forbes magazine -- good for 17th place on its India rich list -- the Singh brothers could have the means and access to capital to take on the Malaysian fund.
Khazanah declined comment on Fortis' offer. Khazanah's $28 billion in assets are mostly concentrated in Southeast Asian financials, healthcare and telecoms.
The fund already owns stakes in healthcare firms across Asia, including in Apollo HospitalsAPLH, a rival to Fortis in India.
In its offer document, Fortis said its long-term vision is to manage and operate Parkway and Fortis as a single entity.
"With Parkway as the flagship of the combined group, a Parkway and Fortis combination will create an integrated pan-Asian healthcare services provider, significantly increasing the Parkway Group's regional footprint and presence," it said.
Source : Reuters
Photo :kyvoice.com
Thursday, 3 June 2010
‘Advice for the Wise’ – June 2010
Our ‘Advice for the Wise’ monthly newsletter gives you an outlook across sectors along with economic updates both from a global and domestic perspective.An in-depth research of the market enables us to give you some of the recommendations on Top Equity Mutual Funds, Top Debt Mutual Funds, Top Life Insurance policies and Top Health Insurance policies.
Our recommendations are purely based on in-depth research. We ensure that our recommendations are 100% product-neutral and unbiased because unlike other players, we are neither tied up with any one particular insurance company nor do we have our own mutual funds.
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