Why Panic Gripped Indian Markets On Friday

Volatility gripped India’s equity benchmarks today as shares of Yes Bank Ltd. and mortgage lenders Dewan Housing Finance Ltd. and Indiabulls Housing Finance Ltd. tumbled. It began with a 35 percent slide in Yes Bank in morning trading after its co-founder Rana Kapoor was granted only four months extra as its chief executive officer. The Sensex and Nifty, however,…

India may get thrown out of MSCI Indices

MSCI Inc. (NYSE: MSCI), a leading provider of research-based indexes and analytics, announced today that it is closely monitoring developments related to the concerted announcement by three Indian stock exchanges, including the two principal exchanges, of the imposition of anti-competitive measures restricting the accessibility of the Indian equity market. MSCI is evaluating the measures’ potential…

Emerging-Market Chaos Can’t Tame Stock Bulls as Economy Wins

A fired finance minister and political upheaval won’t be enough to stem the rally in emerging-market stocks. That’s the lesson from the first quarter, when equities posted their best gains since 2012 even as Donald Trump threatened to end trade deals, the U.K. began laying the path for its exit from the European Union, South…

China consortium buys ad-tech venture Media.net for $900 million

NEW DELHI/BENGALURU: A consortium of Chinese investors has acquired ad-tech venture Media.net for about $900 million in a rare reverse merger deal being touted as the largest in the sector and which propels its India-born founders into the coveted ‘three-comma club’. Founded by Mumbai-born serial entrepreneurs Divyank and Bhavin Turakhia, Media.net develops products for advertisers…

A steadying hand

The budget confirmed the fiscal deficit target of 3.9 per cent for the current financial year, and 3.5 per cent for 2016-17. The current account deficit (CAD) remained well-contained at 1.5 per cent of the GDP, and with oil prices at $30, few expect it to be under any imminent pressure. The GDP growth rate…

FIIs pump in over Rs 11,000 crore in the market

Overseas investors have pumped in over Rs 11,000 crore ($1.7 billion) in the Indian stock market this month following new RBI Governor Raghuram Rajan’s announcing measures to boost the weakening rupee and revive economic growth. Moreover, the US Federal Reserve’s decision of leaving its stimulus programme unchanged also encouraged foreign investors to park their funds…