Canadian investor Prem Watsa’s open offer to public shareholders of IIFL to buy out their 26 per cent has become a reason to worry for its promoters
India’s stock valuations have already priced in most of the positives, said Joanne Goh, senior equity strategist — group research, DBS Bank.
P-notes are offshore derivative instruments used by foreign investors who are interested in betting on Indian securities but not keen on registering with SEBI
Indian stocks erased losses and ended higher, bucking the weak trend in other Asian markets, led by a rally in top pharma stocks.
The bone of contention is the recent Amfi move to put a cap on upfront fees mutual funds pay distributors.
Investors are worried that a new fund manager may shuffle the portfolio which could lead to the fund’s exit from some of these stocks.
Mutual funds may take a U-turn on the recent decision to limit upfront commissions to distributors, a move that was aimed to check misselling.
Investors will not be able to avail of the tax benefit known as bonus stripping —a practice that has been frowned upon by the capital markets regulator.
Equity assets under custody of foreign portfolio investors (FPIs) from the US alone was Rs 6.75 lakh crore as on March 30.
Pharma cos including Sun Pharma, Lupin, Cadila Healthcare and Cipla weakened on Thursday after BofA-ML's downgrade.
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