Investing Tactics in Uncertain Times
This year has not been kind to investors. Corporate India is beset by issues of governance. Just when you thought the worst is behind us, comes a bank problem. Now, we see ghosts in every cupboard. The air is full of scepticism and fear. Banks, mutual funds, manufacturing companies, finance companies, real estate business, etc.—there are problems everywhere.
 
The regulatory...
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  • BSE's India INX achieves $500 bn cumulative turnover in Oct
    The BSE-owned India International Exchange (India INX) on Wednesday said it has achieved a cumulative turnover of $500 billion since it was set up in 2017.
     
    "India International Exchange (India INX), the international exchange based in the International Financial Services Centre (IFSC) at Gujarat International Finance Tec-City (GIFT City) has crossed the USD 500 billion mark in its cumulative total trading turnover driven by a substantial jump in its volume to over 37.15 million contracts. 
     
    "India INX has maintained its leadership as the No. 1 exchange in IFSC GIFT City with an average daily turnover of USD 2,290 million (INR 16,254 cr) having overall market share of 87 per cent in IFSC for the period from quarter-ended September 2019," the exchange said in a statement. 
     
    The India International Exchange is India's first international stock exchange, opened in 2017. Located at the International Financial Services Centre, GIFT City in Gujarat, it is a wholly-owned subsidiary of the Bombay Stock Exchange. 
     
    The India INX Futures are currently available on the Sensex, INDIA50, gold, silver, Brent crude oil, euro, dollar, British pound, Japanese yen, 149 Indian single stock futures as well as international commodities such as aluminium, copper, lead, nickel, and zinc. Option contracts have also been launched on several of these products. 
     
    Commenting on the milestone, India INX MD & CEO Balasubramaniam V said: "The substantial increase in trading volume and open interest on the India INX derivatives segment further reinforces our leadership in the IFSC GIFT City. This is a clear indication of the effectiveness of our strategy and showcases our capability to become a leading international derivatives exchange in the years ahead. Further, the RBI's monetary policy allowing rupee derivatives to be traded in IFSC Gift City will attract more participants to the IFSC and increase liquidity." 
     
    In the Global Securities Market, India INX has established MTN programme of $44.57 billion (market share of 100 per cent) and listed bonds valuing $17.62 bil lion (market share 98 per cent). This firmly establishes India INX and GIFT IFSC as a credible and competitive international jurisdiction for raising capital from global investors, the statement said. 
     
    The Depository Receipts (Amendment) Scheme 2019 has been amended to include GIFT IFSC as a permissible jurisdiction and India INX looks forward to introducing Depository Receipt and Equity Listings as and when operating guidelines are issued by the Regulator. With products spanning across multi-asset c lasses such as equities, commodities, currencies and debt securities, India INX has become the de facto alternative destination for global investors as c ompared to international financial centres such as Singapore, Hong Kong, Dubai, New York and Chicago, it said. 
     
    The exchange had witnessed an all-time high turnover of over $4.5 bn (Rs 31,253 crore approx.) on its derivative segment in daily trading turnover on July 25, 2019, while on May 30, the daily turnover crossed over $3.3 bn.
     
    Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.
  • User

    Nifty, Sensex Headed Higher – Wednesday closing report
    We had mentioned in Monday’s closing report that Nifty, Sensex may try to rally. The major indices rallied today. On the NSE, there were 964 advances, 821 declines and 346 unchanged. The trends of the major indices in the course of Tuesday’s trading are given in the table below:
     
     
    The cabinet on Wednesday hiked the dearness allowance (DA) for government employees 12% to 17%.
     
    The State Bank of India has lowered its marginal cost of funds based lending rate (MCLR) by 10 basis points across all tenors to 8.05 per cent from October 10. The MCLR cut will make home and other retail loans cheaper for the existing borrowers.
     
    V-Mart Retail has opened four new stores, in the state of Arunachal Pradesh, Uttar Pradesh, Delhi and Jammu & Kashmir respectively. With this total number of stores increased to 243 stores in 186 cities across 19 states and total tally of stores in Arunachal Pradesh to 1, in Uttar Pradesh to 91, in Delhi to 3 and in Jammu & Kashmir to 7.
     
    Zydus Cadila has received the final approval from the USFDA to market Colesevelam Hydrochloride Tablets, (US RLD - Welchol), 625 mg. This medication is used to lower cholesterol in people with high levels of cholesterol in the blood. It will be manufactured at the group's formulations manufacturing facility at SEZ, Ahmedabad.
     
    Lupin announced the receipt of good manufacturing practice certificate from the pharmaceutical and medical devices agency (PMDA), Japan for its Mandideep API facility (Unit II). The GMP Certificate was issued following an inspection conducted by PMDA between May 14, 2019 and May 17, 2019.
     
    Ashoka Buildcon has received an order from SRIT India, for Kerala State Information Technology Infrastructure Limited, for conducting survey, supply of poles & installation, laying of the overhead and underground optic fiber cable, on existing electricity poles, supply, installation, testing and commissioning of non-IT items. The value of the project is Rs313.72 crore and duration is 24 months.
     
    Minda Industries has entered into definitive agreement with shareholders of Germany based Delvis Gmbh, to acquire 100% interest in the company. The enterprise value of the company along with its two subsidiaries Delvis Solution and Delvis Products is ~Euro 21 million, subject to adjustments, if any, at closing. The transaction is expected to be concluded in next two months. The transaction will be funded by mix of debt and equity.
     
    Aurobindo Pharma has clarified in reference to the observations received from United States Food and Drug Administration (USFDA) after its cGMP inspection at Unit 7 manufacturing facility from September 19-27, 2019. The inspection ended with 7 observations. The company believes none of the observations are related to data integrity. The company is confident of addressing these issues within the stipulated timeline.
     
    The top gainers and top losers of the major indices are given in the table below:
     
     
    The closing values of the major Asian indices are given in the table below:
     
     
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