The customers are convinced about the long-term potential of equity. They are going to stagger the investment through STPs into the equity market rather than put it in as lump sum, says Sunil Subramaniam, MD, Sundaram AMC. Excerpts from an interview with Tamanna Inamdar of ETNOW. It is the third consecutive month that we have seen a fairly steep drop in equity inflows. Put this into perspective for us.What you are referring to is the net inflows, that is the gross inflow minus redemptions. If you disaggregate the two numbers, gross inflows actually went up 3% month on month but gross outflows went up 47%. That is why overall there was a 78% drop. The 47% increase in the redemptions came because markets this month were at a reasonably all-time high. Post the tax benefits that Nirmala Sitharaman passed on to corporate India and EPS numbers, a lot of these companies benefited from that. We saw the markets rising and those investors who came would come in let us say two years ago, at … [Read more...] about I would not press any panic button on falling equity inflows: Sunil Subramanium
Equity market
Baring Private Equity likely to raise up to Rs 1,500 crore via credit fund
MUMBAI: Baring Private Equity Asia (BPEA) is set to raise up to Rs 1,500 crore through a dedicated credit fund that will invest in local bonds sold by mid-sized Indian companies, said two people aware of the matter. It is seeking to tap credit opportunities that traditional lenders appear to be skipping. The company has already applied to the Securities Exchange Board of India, said one of the sources cited above. The company aims to raise anything between Rs 1,000 and 1,500 crore. The application will fall under one of the Alternative Investment Fund (AIF) categories. “The proposed fund would be sector agnostic as it will look into company financials irrespective of any rating grade,” an executive told ET. Those bonds would be backed by collateral. Typically, the company lends to businesses with proven execution and repayment track record. Those borrowing companies are supposed to be financially secure with good cash flows but require capital to support the continued … [Read more...] about Baring Private Equity likely to raise up to Rs 1,500 crore via credit fund
Share market update: Adani Green, Jain Irrigation among top losers on BSE
NEW DELHI: The domestic equity benchmark BSE Sensex was trading 33.61 points down at 38,093.47 on account of selling in frontline bluechip counters. Shares of Wintac Ltd (down 20 per cent), Aarvee Denims (down 16.08 per cent), Jagsonpal Pharma (down 14.55 per cent), Ravindra Energy (down 13.43 per cent), Choice Inernational (down 10.32 per cent), Blue Chip Textiles (down 8.87 per cent), KLRF Ltd (down 8.10 per cent), Lypsa Gems (down 7.10 per cent), Jain Irrigation (down 6.85 per cent) and Adani Green Energy (down 6.66 per cent) were among the worst performers. In the Nifty pack, 31 stocks were trading in the green, while 19 stocks were in the red. The Nifty index was trading 2.75 points down at 11,302.30. … [Read more...] about Share market update: Adani Green, Jain Irrigation among top losers on BSE
Overseas investors turn net sellers of Asian equities in November
Foreigners turned net sellers of Asian equities in November amid mixed signals on whether the United States and China were getting closer to reaching a preliminary trade deal. Overseas investors sold $4.3 billion worth of regional equities in the last month, after two successive months of buying, data from stock exchanges in South Korea, Taiwan, Thailand, Philippines, Indonesia and Vietnam showed. "I see it as a mixture of profit booking and also cautiousness in November given the event risks into the end of the year," said Jingyi Pan, a Singapore-based market strategist with financial services firm IG. Washington's next round of tariffs against $156 billion worth of Chinese goods are scheduled to take effect on Dec. 15. South Korea led the regional outflows with foreign sales of about $3 billion in November, the biggest in 13 months, mostly driven by its weak exports. The fourth-largest Asian economy faced 12th straight month of contraction in exports, November month's preliminary … [Read more...] about Overseas investors turn net sellers of Asian equities in November
Jefferies appoints Chris Wood as global head of equity strategy
Mumbai: Global investment banking firm Jefferies Group on Thursday said appointed Christopher Wood as global head of equity Strategy. Wood, one of the top-ranked market strategist, joined Jefferies from Asian securities house CLSA, where he spent around two decades. Wood’s exit from CLSA earlier this month was the latest in a string of high-level resignations at the rocked Hong Kong-based securities firm in recent times. At least six senior CLSA executives, most of whom joined the firm before its takeover by China’s Citic Securities in 2013, have left this year, amid rising tensions with managers of the state-owned brokerage, Bloomberg had reported earlier in May. Simultaneously, Jefferies launched its first edition of Chris Wood’s popular weekly report, called GREED & Fear, which is being published almost without interruption since 1996. “With a string of appointments on the Asian platform in recent weeks, now capped by the launch Chris Wood’s … [Read more...] about Jefferies appoints Chris Wood as global head of equity strategy