NEW DELHI, July 6: Overseas investors have pumped in a staggering over USD 20 billion into the Indian market in the first half of the year, mainly on hopes of a stable and reform-oriented government at the Centre.
The net investments by foreign investors into equity markets stood at USD 9.96 billion (Rs 59,795 crore) during January-June 2014, while the same for debt markets was at USD 10.42 billion (Rs 62,834 crore) taking the total to USD 20.4 billion (Rs 1.23 lak crore), latest data showed.
Market analysts believe that foreign investors have been betting on the Indian market mainly on hopes of a stable and reforms-oriented government.
The inflows are expected to surge further as the verdict met overseas investors’ expectations in the Lok Sabha polls.
“Moreover, foreign investors continued their positive bias towards Indian markets after elections as well primarily on reforms oriented decisions taken by the new government,” an analyst said.
FIIs (Foreign institutional Investors, the main driver of the equity market, have helped in pushing up the benchmark BSE Sensex by over 20 per cent in the first six-month of the year.
Foreign investors had made a net investment of Rs 62,288 crore into the country’s securities market in 2013 (January- December). This included a net investment of Rs 1.13 lakh crore in equities, while they pulled out a net amount of Rs 50,848 crore.
From the beginning of June, FIIs along with sub-accounts and qualified foreign investors have been clubbed together by market regulator Sebi to create a new investor category called Foreign portfolio investors.
The strong inflows in the recent months have taken the cumulative net investments of foreign investors into India to to USD 191 billion, while their investments in rupee terms is Rs 9 lakh crore level.
This is based on the data since November 1992 when the foreign investors began investing into Indian markets and includes about USD 156 billion investments into equities and further about USD 35 billion in debt markets. (PTI)
FII inflows hit USD 20-bn mark in first half of 2014
Mutual Funds buy shares worth Rs 3,300 crore in June
NEW DELHI, July 6: Improved market sentiments helped mutual funds pick up shares to the tune of over Rs 3,300 crore in June, making it the second consecutive monthly inflow.
Besides, they pumped in a staggering Rs 68,000 crore in the debt market during the period.
The inflows in equities during June followed a net investment of about Rs 105 crore in the preceding month.
Prior to that, fund houses have been net sellers in the equity market since September last year, while they were net buyers of shares to the tune of Rs 1,607 crore in August.
As per the latest data compiled by market regulator Sebi, mutual funds (MFs) purchased shares worth a net amount of Rs 3,339 crore in the month of June.
Industry experts attributed the inflows in equities to improvement in market sentiments primarily due to the new government’s reforms agenda. Besides, retail participation in equity schemes has increased significantly in the last few months.
“The money in equities has been coming in the past two months and mostly in the second half of May after the General election results,” an expert said.
The buying of shares during June coincided with a rise of 1,196 points, or five per cent, in the Sensex.
Mutual funds collect money from investors and buy stocks, including IPOs (primary market) and bonds.
In the first half of 2014, mutual funds offloaded shares worth over a net Rs 7,000 crore, while they pumped in a staggering Rs 3.75 lakh crore in the debt market during the period.
Mutual funds offloaded shares worth Rs 14,208 crore during the last fiscal, lower than the Rs 22,749 crore offloaded in the preceding financial year (2012-13).
The financial year ended March 31, 2014, also marked the fifth consecutive year of net outflows by mutual funds in the equities after pumping in a net amount of Rs 6,985 crore in the share market in 2008-09. (PTI)
Vantage Circle bullish about future growth prospects
NEW DELHI, July 6: Employee privilege platform Vantage Circle, which has raised Rs 1.2 crore from angel investors, is planning to use the said capital for ramping up its sales activities and improving its product line.
Vantage Circle currently offers corporates such as Infosys, Wipro, HCL, Novartis and GE, hand-picked shopping privileges from over 950 national and international brands.
The employees of these companies can avail their privileges by brands such as Samsung, Tata Motors, redbus.In, cleartrip.Com, Tata Sky, Carat Lane, Toyota, Croma, Mahindra First Choice, Apollo Pharmacy and many more.
Vantage Circle, CEO Partha Neog said some of the main objective in raising the capital was to improve the product and technology.
Some of the products and features that are coming up in this quarter include a mobile app; an analytics dashboard for brands to understand their customers better; personalised recommendation and overall improvement in the experience by improving the current products, he added.
This initiative provides a win-win situation for everyone as brands want to engage with these audience and companies want their employees to benefit.
Neog noted that companies are still going with standard employee benefits programs, and being a new concept it takes time for HR to pcik it up as part of their regular work.
“But with companies like Infosys, Wipro, HCL, Capgemini, GE, Deloitte, coming onboard, it is a matter of time before it becomes a trend,” he added.
Vantage Circle has the potential to tap a fast growing working demographic, and with its recommendation technology backed by high scale infrastructure, it aims to be a one-stop shop for employee privilege benefits, he said. (PTI)
Jason Segel, Cameron Diaz to present at ESPY Awards
LOS ANGLES, July 6: Actors Jason Segel and Cameron Diaz will be among the presenters at the 22nd annual ESPY Awards.
The ceremony will honour the very best in sports live on ESPN on July 16, reported The Wrap.
Joining the ‘Sex Tape’ duo to give away trophies at the ESPY Awards will be Kiefer Sutherland and Jessica Alba.
Jim Parsons of ‘The Big Bang Theory’ will also be on hand, with more presenters to be revealed in the coming weeks.
This year’s host will be Drake, who is following in the footsteps of Jon Hamm, Rob Riggle and Seth Meyers.
Major nominees include NBA star Kevin Durant, five time NFL MVP Peyton Manning, boxer Floyd Mayweather and UFC fighter Ronda Rousey. (PTI)
Miley Cyrus will make right choices: Dolly Parton
LONDON, July 6: Singer Dolly Parton has again defended her god-daughter Miley Cyrus, saying that she has had to be controversial to “prove her point”.
The 68-year-old country singer is the godmother of Cyrus and previously appeared as a guest star in TV series ‘Hannah Montana’, reported BBC online.
“She’s a great talent, Miley, who I’ve known ever since she was a tiny little baby. She’s always been smart and quick and she is so gifted and I really, really hope she does great in this world of show business, and I believe she will,” Parton said.
The ‘9 to 5’ singer added, “I believe she’s gonna make the right choices, she’s had to go a little drastic now and then just to prove her point, but I’ve got a lot of faith in her and I’m hoping she does great ‘cos she is gifted and special.
“You know her comedic timing is very good, so she’s got all the goods – I’m just hoping she uses all of it well.” (PTI)
Verification of PPOs
Sir,
The process of verification of PPOs is going on without any official circular/notice. The senior citizens, pensioners, sick and old are worried about the verification of their pension records. It would have been in the fitness of affairs, if the verification of these records, had been done at the bank branches, wherefrom pensioners get their pension dues, since this job has been assigned to the J&K Bank for years together now. The pension records also are in possession of the Bank Managers. It seems quite atrocious to take the pension book from the bank to treasury, get it back and then deposit in the same bank. The Director General Treasuries has not so far issued any notice in this regard. It is submitted that the concerned officer may issue instructions to the concerned authorities so that harrassment caused is removed.
Finance Minister may also take due cognizance of it and find a lasting solution to the problem, by authorising concerned bank branches to verify the pensioners’ records.
Yours etc…
P L Koul
Badgami
Helena Bonham Carter obsessed with Candy Crush Saga
LONDON, July 6: Actress Helena Bonham Carter does her best to stop her children using iPads all day – but says she herself is obsessed with playing Candy Crush Saga.
The 48-year-old ‘Harry Potter’ actress tries to limit the access her children Billy, 10, and Nell, six, have to gaming devices, but feels a bit hypocritical because she plays the sweet-swapping game whenever she can, reported Hello magazine.
“The challenge is to find something we all like doing and to get the children away from the screens, like iPads. Although I can’t be too strict as I’m a bit addicted to Candy Crush,” she said.
When they’re not playing computer games, Helena says her family love to get creative together, with her partner Tim Burton being a gifted artist.
“Like anyone else we need to eat, run a household, but we’re good at games and making things. Tim is good at drawing and painting, that’s the one thing we like to do together, drawing and painting and making things,” she added. (PTI)
It became a job: Cee Lo Green on decision to leave The Voice
LOS ANGELES, July 6: Rapper Cee Lo Green says the reason he decided to leave singing reality show ‘The Voice’ was because of the workload.
The ‘Crazy’ hit-maker announced that he would not return to the singing competition in February for its seventh season, reported Us Magazine.
“It easily and quickly became a job,” the 40-year-old said.
“Very, very obligating. Taxing and tiring. I still tip my hat to Adam Levine and Blake Shelton and those guys who continuously do it, but I think I ran my course there just naturally.
“Amicably, we parted ways. I’ve got some very great memories there. It really has everything to do with me having the leverage to go elsewhere and be a success as well,” Green said.
Pharrell Williams will replace Green as a coach on the competition, alongside Levine, Usher, and fellow new recruit Gwen Stefani. (PTI)
Reviving sick units
Sir,
This has reference to the news item “Government keen on revival of sick units’ DE July 5.
Due to geographical and topographical features Jammu and Kashmir has not evolved as an industrial hub so far. No big manufacturing unit has come up in any region of the State. Besides, militancy during last 25 years gave a big blow to what already existed. No businessman from outside the State is ready to set up any unit here due to Article 370.
Though the State landscape is dotted with small business enterprises only, these units too have not flourished. Some of them are running in losses, and some have turned sick. With the result many people have lost their livelihood.
It will be a good step in case Government revives the sick units by extending them all possible help. Mere providing financial help won’t work. There should be 24 x7 electricity supply. There is need to provide them technical and technological guidance. Markets should be explored for the goods produced in these units. Once these measures are put in place, perhaps there are chances that these units may start functioning once again.
Yours etc…
Goverdhan Sharma
Hiranagar
MLA Shabir Ahmad Khan and others releasing a book during a function at Rajouri on Sunday.
