Sunday, October 11
The Indian rupee is emerging Asia’s worst performer this quarter and may continue to lag peers as the central bank aims to avert a depletion in its foreign-exchange reserves, according to analysts.Having already pledged to sell billions of dollars via derivatives contracts at various points in the future, the Reserve Bank of India is expected to buy up sizeable amounts of the US currency to prevent its holdings from running down. Those purchases are seen putting pressure on the rupee.The central bank had dollar repayments of about $73 billion as of April as indicated by its net short forwards position, a measure of the amount of greenback it has agreed to sell at a future date, according to the central bank’s latest data. It has narrowed from an all-time high of $88.8 billion in Februa
Sumitomo Mitsui Banking Corporation (SMBC) is preparing to approach the Reserve Bank of India for a licence to operate a wholly owned subsidiary, said people with knowledge of the matter. The move by Japan's second-largest banking group is seen as part of a plan to acquire a controlling stake in the private sector lender. SMBC on May 9 signed a definitive agreement.This was for acquiring a 20% stake in Yes Bank from State Bank of India and a clutch of private banks for ₹13,483 crore through secondary market transactions. Once the Japanese bank gets approval to set up a wholly-owned subsidiary, SBI and the other banks are likely to sell their remaining stake-of nearly 14%-in accordance with the road map discussed with RBI by Yes Bank and SMBC, the people said.121555527SMBC operates four b
Money is doubling fast and it’s not in the Sensex or Nifty. Smallcap stocks are once again stealing the spotlight in Indian markets, posting a stunning rally that has investors rushing back into the segment.The BSE Smallcap Index has jumped 21% in just three months, comfortably outpacing the Nifty’s 12% gain in the same period. Several individual names have delivered astonishing returns — NACL Industries has soared 192%, while Garden Reach Shipbuilders (GRSE) is up 147%. Stocks like Suven Life, Centum Electronics, Cosmo First, Bharat Dynamics, Zen Tech, and Mangalore Chemicals have either doubled or come close.The smallcap momentum is unmistakable and it's being powered by both macro conditions and strong flows, just like what Dalal Street saw in 2024.“We firmly believe that over t
