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www.business-standard.com
MUMBAI (CITY)
~5.00
VOLUME XIX NUMBER 235
> IN BRIEF
2.1
1.7
warned of “panic sentiment” grip- trading, theonly way to reduce risk crore in 2014-15, a large portion of which remained
24
10.0
65.0
81.0
than one per cent each. 17 >
137
135
6.5
ping investors. exposure is to sell blue-chips.” unhedged, giving fresh headache to their investors and the
90
The turn in sentiment affected About 30 per cent has been Reserve Bank of India (RBI). The rupee has been hovering
global markets, including India. knocked off the value of Chinese China India around 63-64 a dollar.
China tops list of migrating HNIs TheBSEbenchmarkSensexclosed shares since mid-June, and the Retail ownership (% of overall m-cap) 80 21 According to an
About61,000high-networthindividuals
movedoutofIndiainthepast14years,
with a decline of 483.97 points, or
1.72 per cent from its previous
fear for some global investors that
China’s market turmoil will desta- FII investment Up to $125 bn* No overall limit.**
India Ratings study of
corporate balance sheet,
BEYOND THE
largelytotheUnitedArabEmirates,United
KingdomandUnitedStates.Indiaranksnext
close, to end at 27,687.72. At one
point, it had fallen as much as 535
bilise the real economy is now a
biggerriskthanthecrisisinGreece.
Equity (one-year return, %) 70 8.2 available for the 500
largest listed borrowers
HEDGE?
No. of IPOs (Amt raised YTD) 141 ($21.5 bn) 5 ($0.2 bn) Debtof top 500 largest listed
onlytoChina,whichsaw91,000millionaire points. The National Stock All 12 of BSE’s sectoral indices in 2013-14, aggregate borrowers (~lakh cr)
migrationsbetween2000and2014, Exchange’s Nifty closed at ended in the red on Wednesday. Equity issuance (Amt raised YTD) 1,172 ($267.5 bn) 86 ($14.1 bn) debt increased to ~28.7
accordingtoareportbyNewWorldWealth,a 8,363.05. The metal index, which fell 3.89 Most valuable company (m-cap in $ bn) PETROCHINA (342) TCS (81) lakh crore, of which Total debt Forex Debt
Johannesburg-basedconsultancy. 18 > Foreign institutional investors per cent on concerns of a Chinese Index P/E 16.0 23.0 about ~4.5 lakh crore
were net-sellers to the tune of slowdown, was the worst hit. The was dollar-denominat- 25.0 28.7
Financials’ weight (%) 42.0 20.4
~354.32 crore, while domestic insti- banking index was down 1.69 per ed debt, compared with
High Court relief for Uber in Delhi tutions were net-sellers of ~346.71 cent on fresh worries over asset Defensive weight (%) 15.0 24.7 ~4.2 lakh crore in the
The Delhi High Court on Wednesday set aside crore worth of stocks, showed pro- quality. Overall, nearly two stocks year-ago period.
a Delhi government order by which Uber’s visional exchange data. declined for every advance on the China India “In the past 12 to 18
application for licence to ply in the national Beijing unveiled yet another BSE. A total of 942 stocks rose, months, the rupee’s
capital was rejected. 8> battery of measures to arrest the while 1,812 ended in the red. stability has made
4.2 4.5
>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>> sell-off, and the People’s Bank of Turn to Page 5 > some of the corporate
China said it would step up sup- houses assume that the
PM meets Chinese President Xi OPINION, P11
port to enlisted brokerages to prop Indian currency will 2012-13 2013-14
Prime Minister Narendra Modi on Wednesday up shares.
> EDIT: China’s meltdown remain stable. So they Source: India Ratings
conveyed India’s strong concerns to The CSI300 index of the largest COMPANIES, P2 have reduced hedging,
President Xi Jinping on China blocking its listed companies in Shanghai and > Internet, tech, infra, realty in at the cost of caution,”
move at the UN for action against Pakistan Shenzhen, fell 6.8 per cent from its India may gain said Deep N Mukherjee, senior director at India Ratings &
over Mumbai attack mastermind previous close, while the Shanghai THE SMART INVESTOR, P12 Research. Mukherjee said the debt figure went up further in
Zaki-ur-Rehman Lakhvi’s release. 8> Composite Index dropped 5.9 per 2014-15, but he declined to give an estimate.
cent. With nearly half the market
> China stocks hit 4-month low
>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>> “The risk is that the rupee might touch 65 a dollar during
on a trading halt and another
> Will China turmoil, Greek debt crisis the course of this year. There are global risks that include the
More power supply to Bangladesh roundofmargincalls forcinglever- trip global equity markets?
Note: Defensive includes consumer staples, IT and healthcare; Financial includes real estate; P/E and sector
US Federal Reserve’s outlook on tightening, how the situa-
> Metal stocks crack
India will begin to supply up to 500 Mw aged investors to dump whatever weights for BSE 200 and Shanghai Shenzen 300 indices; * permitted under QFII programme. Less than half tion pans out in the euro zone and whether China’s growth
additional power to Bangladesh as soon as shares could find buyers, the blue- of that has been utilised; ** Cap on investment in individual companies. Total FII holding in India is about slows down further,” said Anindya Banerjee, currency ana-
COMMODITIES, P16 $300 billion; YTD: Calendar year to date Source: Bloomberg
the work on the Saarc grid is completed, chips that had been supported by > Base metal, crude bear the brunt Complied by Samie Modak & Krishna Kant Illustration: Ajay Mohanty; Graphics: Vikash Sharma lyst, Kotak Securities. Turn to Page 5 >
Power System Operation Corporation
Executive Director V K Agrawal has said. 4>