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Category: Investment news

  • Interest rates on retail and bulk term deposits have been raised by the SBI

    Interest rates on retail and bulk term deposits have been raised by the SBI

    State Bank of India (SBI), the country’s largest lender, has increased interest rates on retail term deposits by 15 to 20 basis points on several tenors, effective June 14

    It has also increased interest rates on bulk term deposits by 50 – 75 basis points (bps) on certain tenors at the same time The term deposits (below Rs 2 crore) with a 211-day to less than 1-year duration has been raised by 20 basis points to 4.60 percent, up from 4.40 percent previously.
    Similarly, interest rates on retail term deposits with a tenor of one year to less than two years have been raised by 20 basis points to 5.30 percent, while rates on retail term deposits with a tenor of two years to less than three years have been raised by 15 basis points to 5.35 percent


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    The lender has increased the interest rate on bulk deposits of Rs 2 crore and above by 50 basis points to 3.50 percent and 4%, respectively.

    in the 7-day to 45-day tenor and 46-day to 179-day tenor. Similarly, the interest rates on 180-210-day tenors, 211-day tenors, and 1 year to less than 2-year tenors have been raised by 75 basis points to 4.25 percent, 4.50 percent, and 4.75 percent, respectively The rise in deposit rates follows the Reserve Bank of India’s (RBI) Monetary Policy Committee’s rate action in June, when the benchmark policy rate was raised by 50 basis points to 4.90 percent. In an unexpected off-cycle meeting, the six-member rate-setting panel raised the repo rate by 40 basis points to 4.40 percent.




    The institution raised the interest rate on its bulk term deposits (Rs 2 crore and beyond) by 40–90 basis points in early May, shortly after the MPC raised the repo rate by 40 basis points While lenders have been fast to pass on the higher rate to borrowers since many of the loans are tied to an external benchmark, the transfer of the new rate to the liabilities has been delayed.

  • The rupee falls to an all-time low of 77.74 per dollar

    The rupee falls to an all-time low of 77.74 per dollar

    The rupee fell to a new all-time low against the US dollar on Wednesday, ending at 77.74, slightly lower than its previous close of Despite continued foreign capital outflows and higher global crude oil prices, the local currency traded in a limited range The previous low was set on May 19, when it closed at 77.73 against the dollar, but it had hit 77.80 levels during intraday trade on May 17 USD-INR volatility may continue to be minimal. Anindya Banerjee, the vice-president, of currency options & interest rate derivatives, Kotak Securities, stated, “A range of 77.40 to 78.00 remains in play in the short term.





    Bond prices climbed following the Reserve Bank of India’s monetary policy committraiseding the policy repo rate by 50 basis points bps in line with market expectations.

    and keeping the status quo on banks cash reserve requirements. The three-year government bond rate fell 9 basis points, while the five-year bond yield fell 7 basis points. The four-year paper’s yield fell 8 basis points According to statistics from the the yield on 10-year government bonds (6.54 percent 2032) was 7.51 percent at the start and 7.49 percent at the close Given the high level of inflation, the market has priced in the magnitude of the repo rate rise. Bond rates are projected to fluctuate in a range for the time being, according to dealers and experts The RBI governor has previously stated that a rate hike was a ‘no brainer,’ according to Madan Sabnavis, chief economist of Bank of Baroda. “As a result, the 10-year yield was largely constant between 7.47 and 7.5 percent under the present regime.” In the short run, the yield on 10-year paper is projected to remain range-bound,” he added. As the RBI works toward a more controlled drawdown of liquidity, the yield might rise to 7.75-8%, he noted.

  • Fishin announces Rs.1000 crore investment in Telangana

     Fishin, a world-renowned company in import of Tilapia fish, is investing Rs.1, 000 crore in Telangana for setting up the largest freshwater aquaculture project in the world.

    The company will be setting up the project near Mid Manair reservoir, Rajanna Sircilla district.

    This announcement was made by the company Chairman and CEO Manish Kumar after his meeting with Industries Minister KT Rama Rao at San Jose on Thursday.

    The Company, the largest importer of Tilapia variety of fish in the world and the largest importer of frozen food into the US, announced this investment of Rs 1,000 crores in a fully integrated freshwater fish culture ecosystem including hatcheries, feed manufacturing, cage culture, processing, and exports.

    The project will produce 85,000 MTs of Tilapia fish per year using cage culture methodology. It will also generate direct employment for 3,000 people and another 2,000 people will benefit by way of indirect employment.

    Minister KT Rama Rao thanked the team of Fishin’ for choosing Telangana as their investment destination. He assured that the State government would extend all cooperation to the company.

    He said that the Telangana Government’s investment in Agriculture and Irrigation sectors was bearing fruit. The State was witnessing a second Green Revolution and a Blue Revolution, he informed.

    The Industries Minister appealed to the Fishin’ firm to give preference to the local fishermen community and Mid Manair Project displaced households while hiring.

    Industries Department Principal Secretary Jayesh Ranjan, Director – Food Processing Akhil also participated in the meeting.

  • Stalin in UAE: Lulu Group to invest Rs 3,500 crore in Tamil Nadu

    The multibillion-dollar Lulu group of Keralite NRI businessman M.A. Yusuf Ali will be investing Rs 3,500 crore in Tamil Nadu. This was announced by the group chairman and Managing Director M.A. Yusuf Ali while attending the investors’ meet of Tamil Nadu in Dubai.

    The meet was organised by the Tamil Nadu state government on Saturday. Chief Minister of Tamil Nadu, M.K. Stalin, who is on a four-day tour of the Middle East to scout investments, was present at the meet.

    The Lulu group will build two shopping malls and an export-oriented food processing unit.

    The group, according to a statement from the Tamil Nadu Chief Minister’s office will ink the Memorandum of Understanding on Monday in Abu Dhabi. The Lulu group Chairman M.A. Yusuf Ali in a statement said that the group would commence construction of the malls soon and will provide employment to 5,000 people in the two malls.

    Tamil Nadu Chief Minister M.K. Stalin in his speech said that ever since he assumed office as the Chief Minister, the state has signed 124 MoU’s attracting an investment of 8 billion dollars creating employment opportunities for 20,000 people.

    He said that the target of a trillion economy by 2030 is achievable and that the state has chalked out several programmes and activities, including developing infrastructure, upskilling the workforce to improve productivity, and taking up measures to attract investments in new sectors like electric vehicles, technical textiles, and other sectors.

    The Chief Minister also invited industrialists from the UAE to invest in food processing, hospitality, food parks, and real estate sectors in Tamil Nadu.

    He also appealed to the investors from Dubai to invest in a massive furniture park that was coming up at Thoothukudi in Tamil Nadu.

  • Game-streaming platform Loco raises Rs 330 cr in Hashed-led funding round

    India’s leading game-streaming platform Loco said it had secured Rs 330 crore ($42 million) in an investment round led by Hashed. Besides Makers Fund, Catamaran Ventures, and Korea Investment Partners, all investors from the company’s seed round, including Krafton, Lumikai, and Hiro Capital, also participated in this round. The new investment will cement Loco’s current leadership position in game streaming and further accelerate its streaming technology and content initiatives. With this new fundraising, Loco will “continue investing in the development of the Indian gaming ecosystem and nurturing the Indian gaming community”.

    “We started Loco with a mission to democratise gaming and this investment will help us make significant progress towards our end goal,” said Anirudh Pandita and Ashwin Suresh, founders of Loco. “Today, we are the platform where gamers go from being newbies to becoming gaming superstars. Loco is actively transforming the entertainment experience for Indian users and we are excited about the new investors joining us in building the future of entertainment.”

    Loco has been a pioneer in the live game streaming and esports sector in India, paving the way for gaming to go from a niche hobby to the mainstream national interest. The platform is home to India’s most popular streamers such as Sc0ut, Mavi, Godlike’s Jonathan, Villager Esports, and 8Bit-Thug. Loco has built highly engaged communities across various games including BGMI, Call of Duty Mobile, Clash of Clans, Grand Theft Auto (GTA), and Valiant. The platform houses India’s top esports teams like Godlike, XO, Revenant Esports, and Hyderabad Hydras. It has hosted the country’s largest tournaments in partnership with global publishers like Krafton, Activision, Ubisoft, and Riot Games.

    Loco has grown rapidly over the last year, with daily active viewers scaling by 15x, monthly active viewers scaling by 8x, monthly active streamers scaling by 5x, and live watch hours scaling by 78x since Jan 2021. Today, highly active users spend over 1 hour daily on Loco, making it the gaming community’s platform of choice for a seamless streaming and highly engaging fan experience.

    The company believes that gaming will define the customer entertainment experience over the next decade. Powered by 5G, gaming will make entertainment more immersive, providing users with immensely enjoyable social experiences in virtual worlds. In addition, Web3 will transform the nature of ownership of virtual goods, allowing fans to participate in the entertainment process in a more meaningful manner than has ever been possible before. With these tailwinds driving consumer behaviour, Loco wants to build the social experience platform for the virtual world, serving the over 700 million Indians who will experience these virtual worlds in the coming years.

  • Indian investors can trade in select US stocks via NSE IFSC from March 3

    From March 3, investors in India will be able to trade in select US stocks through the NSE International Exchange (NSE IFSC), a wholly owned subsidiary of the National Stock Exchange (NSE). Investors can invest in NSE IFSC receipts on US stocks, which will be in the form of unsponsored depository receipts (DRs).

    For a start, this will include DRs of 50 US stocks such as Apple, Alphabet, Amazon, Tesla, Microsoft, Morgan Stanley, Nike, P&G, Coca-Cola, and Exxon Mobil.

    Indian retail investors will be able to transact on the NSE IFSC platform under the Liberalised Remittance Scheme (LRS) limits prescribed by the Reserve Bank of India (RBI), which currently stand at $250,000 per year.

    Resident investors will have to open a demat account at the IFSC and the stock receipts will be considered foreign assets for filing income tax returns. Short-term capital gains will be taxed at the slab rate while long-term capital gains will be at 20 per cent with indexation.

    “The business model offered by NSE IFSC will not only provide an additional investment opportunity to the Indian investors but also make the entire process of investment easy and at a low cost. Investors will be provided an option to trade in fractional quantity/value when compared to the underlying shares traded in US markets. The proposed framework will make US stocks affordable to Indian retail investors,” said a note put out by the NSE last year.

    Investing in global stocks has gained currency in the past two years in the backdrop of a decades-long bull run enjoyed by US equities and the need to avoid a single-country risk.

    Currently, Indian investors buy US stocks through designated online brokers who have permission from Indian and US regulators to offer such services.

  • Airtel falls 3% as investors okay investment from Google, telco signs deal to up stake in Indus Towers

    Bharti Airtel’s share price shed 3 percent in early trade on February 28 after shareholders approved the issue of preferential shares to Google for its Rs 7,500 crore investment and the telecom company entered into an agreement with Vodafone Plc to buy equity interest in Indus Towers.

    Bharti Airtel will buy a 4.7 percent stake in Indus Towers from Vodafone Plc, the former said in an exchange filing on Friday.

    The transaction will be done on the condition that the amount paid shall be inducted as fresh equity in Vodafone Idea and simultaneously remitted to Indus Towers to clear Vodafone Idea’s outstanding dues.

    On Thursday, Vodafone Plc sold 2.4 percent stake in Indus Towers to Bharti Airtel as part of the 4.7 percent deal. Prior to the transaction, Vodafone Plc held 28 percent stake in the tower company while Bharti Airtel had 42 percent stake.

    “We believe this transaction allows Airtel to secure continued strong provision of services from Indus Towers, protects and enhances Airtel’s value in Indus Towers, enables it to receive rich dividends and paves the way for subsequent financial consolidation of Indus Towers in Airtel,” Bharti Airtel said.

    Also, on Saturday Bharti Airtel shareholders approved the issue of preferential shares to Google for its about Rs 7,500 crore investment in the company to buy 1.28 per cent stake.

    Internet giant Google had last month announced the proposed investment which includes equity investment as well as a corpus for potential commercial agreements, to be identified and agreed on mutually agreeable terms over the next five years.

  • IT to Hire 50 Lakh in 5 Years, New Investment Opportunity for Middle Class: Rakesh Jhunjhunwala

    Ace investor Rakesh Jhunjhunwala said that the stock market has no king. Stock market is the only king. The ones who thought they were, landed up in Aurthur jail, Jhunjhunwala said while speaking at an event of the Confederation of Indian Industry (CII) on February 17.

    Nobody can predict weather, death, market and women, the ace investor further mentioned. “Market is like a woman, always commanding, mysterious, uncertain and volatile. You can never really dominate a woman and likewise you cannot dominate the market,” he said.

    Sharing the outlook for Indian economy, Big Bull said that India will grow at 10 per cent by 2025-26. The ace investor added that he made a presentation to Prime Minister Narendra Modi where he had said, “India ka time aayega nahi, aa gaya hain.”

    Optimistic Jhunjhunwala said that growing information technology (IT) industry will employ 50 lakh new employees in the next five years and the demand for the residential houses will only grow.

    The seasoned investor is very optimistic about real estate industry in the country. With the development of infrastructure comes urbanisation. Urbanisation plays an important role in housing and commercial real estate property, he mentioned.

    “You go to London, wherever the metro goes, housing has developed. So, Mumbai is making 40 kilometer of metro and it has been made — as the transport systems come, the potential for housing is going to go through the roof. Your cities are going to get decongested and urbanisation in India is today half of China-45 percent, as urbanisation comes, housing has to come,” Jhunjhunwala said.

    Consolidation in the real estate sector, all-time low interest rates on home loans, rising employment in the Indian information technology (IT) industry are some of the key triggers to boost real estate sector going forward, Rakesh Jhunjhunwala mentioned.

    India should focus on affordable housing. The regulatory framework has to evolve further to keep up with the pace of growing real estate market in India. “Digitisation of land records and certification of titles being done digitally and this will boost real estate market in India,” he said.

    Jhunjhunwala is also very bullish on commercial real estate. Logistics sector is at a nascent stage and very attractive, he said. “If India has to develop, real estate has to develop,” he said.

    The real estate investment trusts (REITs) has great scope, he mentioned adding that the units of three REITs that are listed on local stock exchanges being well received by the investing community. He would prefer REIT listing rather than listing real estate companies. Jhunjhunwala further said he is not a big fan of new developers getting listed. “If I was a developer, I would not list. It’s not a business suitable to listing. Blue Chip companies have high return on capital of 18-25 per cent, but unitl now realtors have only burnt capital,” Jhunjhunwala said.

  • Multibagger stock turns ₹1 lakh to ₹1.35 crore in 10 years

    Stock market investors looking for multibagger stocks for 2022 are busy finding quality stocks that are available at discounted price after the recent bloodbath. For such investors of the secondary markets, Deepak Nitrite can be a good bet in long term, say experts. Stock market experts said that the stock has shed a lot and there can be sharp rebound in the counter from lower levels, once there is trend reversal in the markets. This chemical stock is one of the multibagger stocks in 2021 that have delivered stellar return to its shareholders in long term.

    For last six months, this multibagger stock has been under selloff heat. In last one month, Deepak Nitrite share price has come down from around ₹2660 to ₹2058 levels, sliding near 22 per cent in this time whereas in last 6 months, it has lost around 4 per cent. In year-to-date time, this chemical stock has plummeted from ₹2530 to ₹2058, losing near 19 per cent in 2022. Despite such huge selloff by shareholders, the stock has delivered 75 per cent return to its shareholders in last one year. In last 5 years, the multibagger stock has risen from ₹103.65 to ₹2058 apiece levels, logging near 1900 per cent in this period.

    Similarly, in last 10 years, this multibagger chemical stock has surged from ₹15.21 levels (close price on 17th February 2012 on NSE) to ₹2058 levels (close price on 14th February 2022 on NSE), appreciating around 135 times in this time span.

    Taking cue from Deepak Nitrite share price history, if an investor had invested ₹1 lakh in this chemical stock one month ago, its ₹1 lakh would have turned to ₹78,000 today whereas it would have turned to ₹96,000 in last 6 months. If an investor had invested ₹1 lakh in this stock one year ago, its ₹1 lakh would have turned to ₹1.75 lakh today. Likewise, if an investor had invested ₹1 lakh in this multibagger chemical stock 5 years ago and had remained invested in the counter till date, its ₹1 lakh would have turned to ₹20 lakh today.

  • Markets in a bear trap, investors lose Rs 10 lakh crore of wealth in 2 days

    Relentless selling pressure roiled the equity markets for the second consecutive session on February 14, leaving investors poorer by Rs 10 lakh crore.

    Fears of a possible invasion of Ukraine by Russia, inflating crude oil prices, and a correction in global markets spooked investors for the second day in a row.

    Equity benchmark indices fell 2 percent on Monday, in addition to the 1.3 percent drop in the previous session. The BSE Sensex plunged 1,255 points to 56,898, and the Nifty50 fell 382 points to 16,992 at 1:48pm.

    With this drop, the benchmark indices plunged into the negative territory in 2022, losing more than 2 percent against a 22 percent rally in the previous year.

    “The element of uncertainty is very high. If the Ukraine crisis aggravates into a conflict, it can inflict damage to the market in the short run. The consequences of severe sanctions on Russia in the event of a invasion can be debilitating for the Russian economy. This may restrain (Russian President Vladimir) Putin from a misadventure in Ukraine,” said VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services.

    The broader markets also corrected in line with the frontline indices as the Nifty Midcap 100 index lost 2.3 percent and Smallcap 100 index declined 2.6 percent.

    Heavy selling was seen across sectors, barring information technology (IT) and pharma that fell only 0.25 percent and 0.73 percent. The Nifty Bank, Auto, Financial Services and Metal indices tanked 3 percent each. Fast Moving Consumer Goods and Realty were down more than 2 percent each.

    Investors have lost Rs 9.57 lakh crore of wealth in just two straight sessions. BSE market’s capitalisation dropped to Rs 258.24 lakh crore on Monday, against Rs 267.81 lakh crore at the close on February 10.

    The advance-decline ratio was largely in favour of the bears as four shares gained for every share falling on the BSE. More than 570 shares hit the lower circuit on Monday, against 258 shares hitting the upper circuit.

    Experts said sentiment may remain negative until the uncertainty over tensions between Russia and Ukraine eases.  “There is a short-term negative sentiment in the markets due to the Ukraine-Russia tensions, rising crude oil prices and expectations of aggressive rate hikes by the US Fed due to decades-high inflation,” said Mohit Nigam, Head of  PMS at Hem Securities.

    The current fall in the market is due to the Ukraine crisis and the market may stage a strong rebound after the crisis eases, he said.

    Market volatility is expected to stay high, so investors should not jump in for short-term gains, rather they should adopt a long-term horizon and add quality stocks during significant dips, he said.

    Markets across Asia were under pressure with Japan’s Nikkei falling more than 2 percent. China’s Shanghai Composite, Hong Kong’s Hang Seng and South Korea’s Kospi fell 1-1.6 percent each.