Staying bullish

Even as recovery is underway, risks to inflation, current account and fiscal dynamics, in the midst of rising oil prices will impact the rupee which could depreciate to 68 levels in 2018. The rupee traded on a strong note this year, appreciating by 5.3 per cent.

The central bank has purchased $17.1 billion in the first seven months of the year to rein in the volatility compared to $ 10.3 billion during the same period of last year. On January 2, 2017 the rupee was at 68.22 while on December 22, it closed at 64.04 levels.

Foreign fund inflows to be robust in 2018; Rs 2 lakh crore came in 2017

Foreign fund inflows into the Indian markets are expected to be robust in the coming year, with some moderation after the spectacular inflows in 2017.

Foreign funds have pumped in close to Rs 2 lakh crore in 2017 with Rs 53,800 crore into equities and another Rs 1.46 lakh crore into debt markets.

According to analysts, inflows into India may continue in the New Year, especially after the upgrade by Moody’s, even though globally the outlook is not that rosy.

HDFC M-cap of Rs 8.52 L cr is 2nd only to Tatas

HDFC Group's current market capitalisation of Rs 8.52 lakh crore is the second largest among the Indian business houses after Tata Group's Rs 9.43 lakh crore as on December 22, 2017. Chances are high that HDFC Group may soar ahead of Tata Group in the near future.

HDFC Group is likely to list its mutual fund subsidiary (HDFC Asset Management), general insurance subsidiary (HDFC Ergo General Insurance) and education loan subsidiary (Credila) among its several unlisted subsidiaries which will add to their market cap going forward.

Shilpa Shetty apologises for using casteist term

Shilpa Shetty has apologised for allegedly using a casteist term in a recent interview, saying her words had been misconstrued and it was not her intention to hurt anyone's feelings.The Mumbai Police yesterday said they were looking into a complaint, seeking the filing of an offence against Shetty and Salman Khan for allegedly using a casteist phrase. The 42-year-old actor issued an apology on Twitter.

Insurance for insolvency professionals next month

The country’s largest general insurer, New India Assurance, will launch an insurance cover for insolvency professionals (IP) next month. Several private non-life insurance companies are also working on launching indemnity policy for IPs.

Presumptive loss was cooked up

After the national auditor unearthed the “2G spectrum scam” and indicted the then Telecom minister A Raja making him villain of the scandal-ridden UPA-II government, the DMK leader on Thursday turned hero with a special court acquitting him in the case besides 16 other accused.

Raja was present in the court when the judgement was delivered by the special CBI judge OP Saini. Speaking to media later in the day, the lawyer-turned-politician minced no words in blaming the CAG for “cooking up” the presumptive loss story. 

SBI report suggests bonds for bail-in of banks

The government would do well by incentivising depositors to spare a part of their total deposits to buy bank bonds that provide guaranteed coupon rates on a half yearly basis and is tax free, suggests a report from the State Bank of India (SBI).

RBI warns of further NPA woes

The banking sector’s bad loan problem may not end any time soon, instead it could further aggravate, according to the Reserve Bank of India (RBI). The banking stability indicator (BSI) shows that the risks to the sector remain at an elevated level weighed down by further asset quality deterioration, the central bank said.

‘Tainted’ stocks rally on 2G acquittals

Stocks linked to the 2G case – DB Realty, Unitech, Sun TV and Reliance Communications – rallied as the Special CBI court acquitted all the 18 entities accused in the case.

All the four stocks saw a sudden surge in their share price around 10.40 am in the morning as the court’s order was made public by the judge. Stocks of DB Realty hit the upper circuit at Rs 43.70 and closed for the day locked at the upper circuit price on BSE and at Rs 43.60 on NSE.

Regulators cannot ignore cryptocurrencies: Sebi

Cryptocurrencies are not a systemic issue for the economy but theyare something regulators cannot ignore, said Sebi chairman Ajay Tyagi.

He said there should not be any regulatory oversights on blockchain technology, saying this is a useful technology that should be encouraged. “Blockchain technology that everyone uses and is useful, should not have regulatory oversight and that’s something which needs to be encouraged and we are also encouraging it,” the Sebi chairman said.