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Tag: Investment

  • 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.

  • Rupee advances 22 paise to 76.78 against US dollar in early trade

    Rupee advances 22 paise to 76.78

    The rupee advanced 22 paise to 76.78 against the US dollar in the opening trade on Wednesday, supported by the weakness in the American dollar and recovery in domestic equity markets.

    Forex traders said the rupee could remain range-bound and can witness high volatility amid the deepening Russia-Ukraine conflict.

    At the interbank foreign exchange, the rupee opened at 76.90 against the US dollar, then gained momentum and touched 76.78, registering a gain of 22 paise from the previous close.

    On Tuesday, the rupee fell for the fifth consecutive day and depreciated by 7 paise to close at a lifetime low of 77 against the US dollar, weighed by surging crude oil prices.

    The Indian rupee could remain range-bound this Wednesday and will continue to witness high volatility, said Sriram Iyer, senior research analyst at Reliance Securities.

    The dollar fell, while a recovery in the domestic equity markets could cap weakness. However, oil continued to move higher after the US ban on Russian energy products and could cap the appreciation bias, Iyer noted.

    Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, fell 0.05 per cent to 99.01.

    Meanwhile, global oil benchmark Brent crude futures jumped 2.59 per cent to USD 131.29 per barrel.

    On the domestic equity market front, the 30-share Sensex was trading 550.95 points or 1.03 per cent higher at 53,975.04, while the broader NSE Nifty rose 117.70 points, or 0.74 per cent, to 16,131.15.

    Foreign institutional investors remained net sellers in the capital market on Tuesday as they offloaded shares worth Rs 8,142.60 crore, as per stock exchange data.

  • Rupee plummets 76 paise to 76.93/USD as oil soars amid Ukraine crisis

    Sliding for the fourth straight session, the rupee tanked 76 paise to close at 76.93 on Monday, after touching its lifetime low of 77 against the US dollar, as crude oil prices climbed to multi-year highs amid the Russia-Ukraine crisis.

    Global oil prices soared past USD 120 per barrel amid the US and European nations mulling a ban on Russian energy imports.

    Sustained foreign fund outflows and a lacklustre trend in domestic equities also weighed on investor sentiment, forex traders said.

    At the interbank foreign exchange market, the rupee opened at 76.85 against the American currency and slumped to an all-time low of 77, before closing at 76.93, down 76 paise from the previous close.

    “The Indian rupee has plummeted to a lifetime low against the US dollar as the deepening Russia-Ukraine conflict has sapped risk appetite in the market while prompting safe-haven flows into the US dollar,” said Sugandha Sachdeva, Vice President – Commodity and Currency Research, Religare Broking Ltd.

    Besides, the parabolic rise in crude oil prices towards multi-year highs and spiralling commodity prices are fuelling inflationary risks, which is a key headwind for the rupee-dollar exchange rate, Sachdeva added.

    According to Sachdeva, the overall trend for the Indian rupee is skewed towards the downside and a convincing close below 77 “would pave the way for further downside towards 77.50 mark in near term, while we envisage the local currency to test the 79 mark from a medium-term perspective.”

    Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading 0.46 per cent higher at 99.09.

    Global oil benchmark Brent crude futures jumped 6.55 per cent to USD 125.85 per barrel.

    On the domestic equity market front, the 30-share Sensex ended 1,491.06 points or 2.74 per cent lower at 52,842.75, while the broader NSE Nifty plunged 382.20 points or 2.35 per cent to 15,863.15.

  • 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.

  • Rupee slumps 49 paise to 75.82 against US dollar in early trade

    The rupee declined 49 paise to 75.82 against the US dollar in opening trade on Wednesday amid a weak risk appetite as tensions escalated in Eastern Europe.

    Forex traders said sustained foreign fund outflows, a lackluster trend in domestic equities and elevated crude oil prices weighed on investor sentiment.

    At the interbank foreign exchange, the rupee opened at 75.78 against the US dollar, then slipped further to 75.82, registering a decline of 49 paise from the last close.

    On Monday, the rupee had settled at 75.33 against the US dollar.

    The forex market was closed on Tuesday on account of Mahashivratri.

    “The Rupee opened gap down against the US Dollar this Wednesday, tracking a rebound in the dollar index after ceasefire negotiations between Russian and Ukraine forces failed,” said Sriram Iyer, Senior Research Analyst at Reliance Securities.

    Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, rose 0.01 percent to 97.41.

    Stronger crude oil prices and weaker Asian currencies against the US Dollar could weigh on sentiments, Iyer said.

    Meanwhile, global oil benchmark Brent crude futures jumped 5.15 percent to USD 110.38 per barrel.

    Markets will continue to remain volatile, and trade will continue surrounding headlines in Eastern Europe. The RBI could be present to curb excess volatility, Iyer added.

    On the domestic equity market front, the 30-share Sensex was trading 748.79 points or 1.33 percent lower at 55,498.49, while the broader NSE Nifty slipped 177.20 points, or 1.06 percent, to 16,616.70.

    Foreign institutional investors remained net sellers in the capital market on Monday as they offloaded shares worth Rs 3,948.47 crore, as per stock exchange data.

  • 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.

  • Rupee rises by 22 paise to 74.44 against US dollar in early trade

    The rupee spurted by 22 paise to 74.44 in early trade on Monday on softer crude oil prices and revived hopes of a diplomatic solution to the Russia-Ukraine crisis.

    The rupee gained further ground to trade at 74.44 at 1030 hours, supported by benign crude oil prices.

    Reports suggested that the US and Russia have agreed to hold a summit on the Ukraine standoff, calming jittery investors. The reports also suggested that one of the preconditions for the summit is that Russia would not invade Ukraine, raising hopes of a diplomatic solution to the crisis.

    Of late, crude oil prices have spurted on fears of supply disruption due to a possible invasion of Ukraine by Russia.

    The Brent Crude on Monday dropped by 0.34 per cent to USD 93.22 per barrel. The US dollar index also edged lower by 0.21 per cent to 95.84.

    Meanwhile, on the domestic equity front, the BSE Sensex was trading lower by 398.17 points at 57,434.80 and the NSE Nifty dropped 93.20 points to 17,183.10 in late morning deals.

  • 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.

  • ₹34 to ₹142: Small-cap multibagger stock gives 300% return in 2022

    Amid stock market investors are busy finding out possible multibagger stocks for 2022, a good number of small-cap stocks have entered the list of multibagger stocks and multibagger penny stocks in 2022. Shares of Variman Global Enterprises are one of them. This BSE listed IT solution company stock has surged from ₹34.35 (close price on 31st December 2021 on BSE) to ₹141.90 apiece levels today, logging around 300 per cent rise in 2022.

    In last one week, multibagger stock has risen from around ₹124 apiece levels to ₹141.90 levels, logging around 14.50 per cent raise in this period. The small-cap stock has hit upper circuit on 3 out of 5 sessions in this period. In last one month, the small-cap IT stock has risen from around ₹52 to ₹141.90 levels, appreciating around 175 per cent in this period. Similarly, in year-to-date time, the multibagger IT stock has delivered more than 300 per cent return to its shareholders.

    Impact on investment

    Taking cue from Variman Global Enterprises share price history, if an investor had invested ₹1 lakh in this multibagger IT stock one week ago, its ₹1 lakh would have turned to ₹1.14 lakh today. Likewise, if an investor had invested ₹1 lakh in this stock one month ago and had remained invested in this stock till date, its ₹1 lakh would have turned to ₹2.75 lakh today.

    Similarly, if an investor had invested ₹1 lakh in this stock at the end of 2021 buying one stock at around ₹34.50 apiece levels, its ₹1 lakh would have turned to ₹4 lakh today, provided the investor had remained invested in the scrip throughout this period.

    On Tuesday trade session, the multibagger stock climbed to its life-time high of ₹143.55 levels whereas its 52-week low is ₹11.65 apiece. Current market capital of the small-cap stock is ₹237 crore and its book value per share is 9.60. Its current trade volume is 88,457, which is much higher than its 20 days average volume of 62,432.