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A unit of <keyword id="6437412" type="General" weightage="20" keywordseo="Qatar-Investment-Authority" source="Orion">Qatar Investment Authority</keyword>, <keyword id="119583" type="General" weightage="20" keywordseo="SBI-Mutual-Fund" source="Orion">SBI Mutual Fund</keyword>, and foreign investment funds <keyword id="6354527" type="General" weightage="20" keywordseo="Nomura" source="Orion">Nomura</keyword> and <keyword id="44473" type="General" weightage="20" keywordseo="Citigroup" source="Orion">Citigroup</keyword> were the biggest buyers of shares in <keyword id="19955648" type="General" weightage="100" keywordseo="Adani-Group" source="keywords" meta.keywordsubtype="org" meta.entityname="Adani Group" meta.hostid="267" meta.entityid="Adani Group">Adani group</keyword>'s <keyword id="22661797" type="General" weightage="20" keywordseo="power-transmission-unit" source="Orion">power transmission unit</keyword>'s USD <keyword id="22661798" type="General" weightage="20" keywordseo="1-billion-QIP" source="Orion">1 billion QIP</keyword>, according to a stock exchange filing by the company. The Rs 8,373.10 crore (USD 1 billion) qualified institutional placement (QIP) of <keyword id="19964750" type="General" weightage="20" keywordseo="Adani-Energy-Solutions" source="keywords" meta.keywordsubtype="org" meta.entityname="Adani Energy Solutions" meta.hostid="267" meta.entityid="Adani Energy Solutions">Adani Energy Solutions</keyword> Ltd (AESL), which closed last week, saw over 120 investors seek shares in the firm that is into power transmission, distribution and smart metering business. Billionaire <keyword id="22623487" type="General" weightage="20" keywordseo="Stanley-Druckenmiller" source="keywords">Stanley Druckenmiller</keyword>'s family office-led investment firms were among the companies that sought shares of AESL in the QIP. AESL in the filing said its board has approved allocation of over 8.57 crore shares to eligible qualified institutional buyers at the issue price of Rs 976 per share, reflecting a discount of Rs 51.11 (4.98 per cent) to the floor price of Rs 1,027. Giving details of allottees who got more than 5 per cent of shares, it said INQ Holdings LLC, a wholly-owned subsidiary of QIA, cornered 15 per cent of the shares sold. Two Mauritius funds of Citigroup bought 8.88 per cent of the shares sold while four SBI funds - SBI Infrastructure Fund, SBI Large &amp; Midcap Fund, SBI Long term Advantage Fund Series IV and SBI Magnum Children's Benefit Fund - together took home 7.93 per cent of the shares. Nomura Singapore Ltd ODI cornered 7.5 per cent of the shares, the filing showed. INQ had in August last year acquired nearly 2.7 per cent in Adani Green Energy Ltd - the renewable energy firm of the conglomerate run by billionaire Gautam Adani. In 2020, it had acquired a stake in Adani Electricity Mumbai Ltd, a subsidiary of AESL. The AESL QIP last week was oversubscribed six times and fetched demand of over Rs 50,000 crore against an issue size of USD 1 billion. <keyword id="22636516" type="General" weightage="20" keywordseo="Duquesne-Family-Office" source="keywords" meta.keywordsubtype="org" meta.entityname="Duquesne Family Office" meta.hostid="267" meta.entityid="Duquesne Family Office">Duquesne Family Office</keyword> and two other US-based long-only funds - Driehaus Capital Management and Jennison Associates - bought shares but AESL did not disclose the exact number of shares they bought since these were less than 5 per cent of the issue size, sources said. The QIP issue marked the debut of highly prestigious long-only investors Duquesne Family Office, Driehaus Capital Management and Jennison Associates which are known for their strong performance. These investors are known for investing only in companies with high governance and are known for staying invested for decades. The QIP was the first public equity raise by the conglomerate since a damning Hindenburg report last year wiped away billions in shareholder value. The demand generated made the AESL QIP the largest in the energy space. Duquesne was founded by billionaire Stanley Druckenmiller, who along with George Soros in 1992 broke the Bank of England by shorting the British pound, leading to its crash and earnings over a billion dollars. Adani Group has a history of introducing several long-only investors in the market. In the past years, it has brought large investors including GQG Partners and International Holding Company (IHC) besides QIA. Other major global names that participated in the QIP include Blackrock, Jupiter Asset Management, and Eastspring. Domestic mutual funds that have participated included HDFC Mutual Fund, Axis Mutual Fund, Bandhan Mutual Fund, LIC, WhiteOak, 360One among others. Insurance companies including SBI Insurance, SBI Pension and ASK Asset Management have also participated, according to sources. QIP is an instrument used by listed companies to raise funds from large institutions. The fundraise is the first after Adani group's flagship firm scrapped a Rs 20,000 crore issue in February last year, following the Hindenburg report alleging accounting fraud and stock manipulation. Though the group vehemently and repeatedly denied all allegations, listed companies of the conglomerate at one point saw over USD 150 billion of their market value being wiped out. While the group has largely recovered, a successful QIP is being seen as a powerful vote of investor confidence in the tycoon. Separately, Adani Enterprises Ltd, the flagship firm of the group, is looking to revive its first-ever public sale of bonds. It plans to raise as much as Rs 600 crore. The company has hired Trust Investment Advisors, AK Capital Services and Nuvama Wealth Management as lead managers for the issuances. The group had tapped the dollar bond market in March this year - the first time since the Hindenburg report - when its solar energy unit Adani Green Energy Ltd and associated firms got bids of about USD 2.9 billion.

Qatar Investment Authority unit, SBI funds, Citigroup biggest buyers in Adani Energy's USD 1 billion QIP

IndiGo, SpiceJet, HDFC AMC, Future Group and other top stocks to watch out for on September 29

<ul><li><keyword id="6426359" type="COMPANY" weightage="20" keywordseo="pnb-housing-finance">PNB Housing Finance</keyword>’s share price has skyrocketed over the last 10 trading days. </li><li>Every ₹10,000 invested in the stock on May 25 is now worth ₹22,000 as on June 7, 2021. </li><li>However, the potential upside could be limited from the current share price. </li></ul>Shares of PNB Housing Finance have hit the upper circuit six days in a row, more than doubling investor wealth. Had an investor put in ₹10,000 in the stock on May 25, 2021, it would be worth nearly ₹22,000 today. The incessant rally in PNB Housing Finance’s shares was triggered by the news of former <keyword id="6357149" type="COMPANY" weightage="20" keywordseo="hdfc-bank">HDFC Bank</keyword> chief executive officer (CEO) <keyword id="6406769" type="LOCATION" weightage="20" keywordseo="aditya-puri">Aditya Puri</keyword> and US-based private equity firm The <keyword id="44803" type="COMPANY" weightage="20" keywordseo="Carlyle-group">Carlyle Group</keyword> investing in the non-banking lender. <div type="Article" hostid="261" msid="83105948" title="Former HDFC Bank CEO Aditya Puri and Carlyle will be among the new owners of PNB Housing Finance triggering an open offer" mstype="2" mssubtype="0"></div> <div type="image" title="PNB Housing Finance 25_05_21 to 07_06_21." msid="83306222" hostid="261" caption="&amp;lt;p&amp;gt;PNB Housing Finance share price&amp;lt;/p&amp;gt;"></div> Over the last 10 trading sessions, the non-banking lender’s share price has surged by over 118%. The company’s shares have been locked in the upper circuit for the last six consecutive days. But the upside could be limited, according to Kranthi Bathini, director of equity strategy at WealthMills Securities. “There has been a sharp run-up in the share price of PNB Housing Finance over the last few trading sessions. This could mean the potential upside now is limited,” Bathini told Business Insider. “The recent investment news has turned it into a momentum stock. The rally in share prices of such stocks is driven by news, and not necessarily the technicals and fundamentals,” he further added, linking the sharp rally in PNB Housing Finance’s share price to the ₹4,000 crore fundraising news. According to the company’s exchange filing, private equity giant The Carlyle Group will contribute to 80% of the ₹4,000 crore capital raise. The other prominent name in the fundraise is Aditya Puri’s Salisbury Investments. Puri is the former CEO and MD of HDFC Bank, India’s largest private sector bank, which also owns the country’s largest private mortgage lender HDFC. The company noted in its exchange filing that the primary objective of the fundraise is to augment capital adequacy, reduce the ratio of debt to equity and fund its growth objectives in the retail lending segment. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/former-hdfc-bank-ceo-aditya-puri-and-carlyle-will-be-among-the-new-owners-of-pnb-housing-finance-triggering-an-open-offer/articleshow/83105948.cms">Former HDFC Bank CEO Aditya Puri and Carlyle will be among the new owners of PNB Housing Finance triggering an open offer</a> <a href="https://www.businessinsider.in/stock-market/news/from-bhel-to-heg-and-cg-power-these-infrastructure-stocks-have-turned-10000-to-as-much-as-30600-in-just-six-months/slidelist/83104471.cms">From BHEL to HEG and CG Power ⁠— these infrastructure stocks have turned ₹10,000 to as much as ₹30,600 in just six months</a> <a href="https://www.businessinsider.in/business/startups/news/online-broker-zerodhas-valuation-has-doubled-from-1-billion-to-2-billion-within-a-years-time/articleshow/83037425.cms">Zerodha doubles its valuation to $2 billion within a year as millennials plough India’s stock markets</a>

PNB Housing Finance shares hit upper circuit six days in a row, but the potential upside could be limited now

<ul><li><keyword id="6426359" type="COMPANY" weightage="20" keywordseo="pnb-housing-finance">PNB Housing Finance</keyword> has announced a fundraise of ₹4,000 crore.</li><li>The fundraising will be led by The <keyword id="44803" type="COMPANY" weightage="20" keywordseo="Carlyle-group">Carlyle Group</keyword> and former <keyword id="6357149" type="COMPANY" weightage="20" keywordseo="hdfc-bank">HDFC Bank</keyword> CEO <keyword id="6406769" type="COMPANY" weightage="20" keywordseo="aditya-puri">Aditya Puri</keyword>.</li><li>Shares of PNB Housing Finance hit the 20% upper circuit, reacting to the news.</li></ul>The board of non-banking lender PNB Housing Finance has approved a fundraising of ₹4,000 crore. Former HDFC Bank chief executive officer (CEO) Aditya Puri and US-based private equity firm The Carlyle Group have emerged as the leading investors. The government-owned Punjab National Bank (PNB), which owns a little over 32% stake right now, will continue to be a promoter and a key stakeholder of the company. PNB Housing Finance said each of QIH, Pluto and Salisbury Investments will be classified as part of the “promoter group” of the company, following the completion of the transactions under Pluto SSA and Salisbury SSA, respectively. Reacting to the news, shares of PNB Housing Finance went through the roof, hitting an upper circuit of 20% at around 10:10 am. <div type="image" title="PNB Housing Finance 15_04_21 to 31_05_21." msid="83106098" hostid="261" caption="&amp;lt;p&amp;gt;PNB Housing Finance share price&amp;lt;/p&amp;gt;"></div> According to the company’s exchange filing, private equity giant The Carlyle Group, will contribute to 80% of the ₹4,000 crore capital raise. The other prominent name in the fundraise is Aditya Puri’s Salisbury Investments. Puri is the former CEO and MD of HDFC Bank, India’s largest private sector bank, which also owns the country’s largest private mortgage lender HDFC. The company notes in its exchange filing that the primary objective of the fundraise is to augment the capital adequacy, reduce the ratio of debt to equity and fund its growth objectives in the retail lending segment. The equity issue is priced at ₹390 per share, which is a discount of nearly 11% over the previous closing price. This has triggered an open offer for acquisition of over 70 million shares, representing 26% of the company’s existing equity shares. The open offer price is quoted at ₹403.22 per share, which is at a discount of nearly 8% over the previous closing price. <cmsannotation type="cmsannotation" annotationid="Fundraising has been long overdue" comment="subhead" text="Fundraising has been long overdue">Fundraising has been long overdue</cmsannotation> The fundraising announcement is long overdue for the lender. Back in November 2020, the company had announced a fundraise of ₹1,800 crore via a preferential issue of shares. However, its plans were derailed as its parent Punjab National Bank was not permitted by the Reserve Bank of India to pour in the capital into its lending subsidiary. Later, in an analyst call in April 2021, PNB Housing Finance’s CEO and MD, Hardayal Prasad, said that the company is evaluating its options. “As you are aware that we were waiting for the capital raise with participation of PNB and ₹600 crore was earmarked since then. But after, the permission was not given. So, we have initiated the process of evaluating all options and modes for the fundraise,” said Prasad. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/from-bhel-to-heg-and-cg-power-these-infrastructure-stocks-have-turned-10000-to-as-much-as-30600-in-just-six-months/slidelist/83104471.cms">From BHEL to HEG and CG Power ⁠— these infrastructure stocks have turned ₹10,000 to as much as ₹30,600 in just six months</a> <a href="https://www.businessinsider.in/business/startups/news/online-broker-zerodhas-valuation-has-doubled-from-1-billion-to-2-billion-within-a-years-time/articleshow/83037425.cms">Zerodha doubles its valuation to $2 billion within a year as millennials plough India’s stock markets</a>

Former HDFC Bank CEO Aditya Puri and Carlyle will be among the new owners of PNB Housing Finance triggering an open offer

<ul><li>In the Asian market, the SGX Nifty was trading 0.33% higher at 7:47 am, indicating a higher start for Nifty50. </li><li>Here’s a list of stocks to watch for in trade today. </li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider. </a></li></ul>Amidst positive cues from the global markets, the Indian stock market is likely to open in green. In the Asian market, the SGX Nifty was trading 0.33% higher at 7:47 am, indicating a higher start for Nifty50. The US equities also <a href="https://www.businessinsider.in/stock-market/news/us-stocks-rise-as-investors-weigh-latest-comments-on-stimulus-progress/articleshow/78564147.cms">ended higher on Thursday as investors digested </a>the latest updates to a possible near-term stimulus measure. The Dow Jones Industrial Average gained over 122.05 points, whereas the S&amp;P 500 was up over 0.80%. These are the stocks to watch out for during the trading session on October 9: Future Retail <a href="https://www.livemint.com/news/india/amazon-approaches-singapore-arbitration-centre-over-future-reliance-deal-11602155326101.html">Amazon has approached the Singapore International Arbitration Centre (SIAC)</a> over its dispute with the promoter of Future Retail, Future Coupons. The e-commerce giant Amazon has stepped in and said that Kishore Biyani’s led Future Group violated a contract with it by entering into the sale agreement with Reliance Retail. Last year, Amazon acquired a 49% stake in Future Coupons, a Future group entity. The shares of Future Retail ended 5% lower yesterday. Vedanta Vedanta’s reverse book building exercise ends today. The company has tendered over 73.76 crore shares in the buyback offer made by promoters to delist the company. A total of 134 crore shares held by public shareholders need to be tendered for the delisting to succeed. The shares of Vedanta ended 4% lower yesterday. Lakshmi Vilas Bank (LVB) Private lender, Lakshmi Vilas Bank (LVB) said it had received an indicative non-binding offer from Clix Group. This came after the bank was in talks for amalgamation with Clix Group, that comprises Clix Capital Services Private Ltd, Clix Finance India Private Ltd and Clix Housing Finance Private Ltd. The shares of Lakshmi Vilas Bank (LVB) ended 7% higher yesterday. Solar Industries Solar Industries said it has bagged an order worth ₹447 crore from the Telangana government for the supply of bulk explosives and initiating systems. The shares of Solar Industries ended 2% lower yesterday. GOCL Corporation The manufacturer of explosives, detonators and special devices for defence and space applications, GOCL Corporation, said its subsidiary received an order worth ₹187 crore from the Telangana government for the supply of bulk explosives. The shares of GOCL Corporation ended 2% lower yesterday. Adani Enterprises Adani Enterprises in a stock exchange filing said it has raised ₹125 crore through allotment of non-convertible debentures (NCDs) on a private placement basis. The shares of Adani Enterprises ended 3% lower yesterday. SBI, HDFC Bank, ICICI Bank, and others Watch out for financial stocks in trade today as the Monetary Policy Committee announced their rate decision and outlook on growth later today. SEE ALSO: <a href="https://www.businessinsider.in/tech/news/microsoft-told-employees-it-plans-to-release-a-browser-based-app-for-the-xbox-game-pass-streaming-service-next-year-that-will-get-around-apple-app-store-rules-we-absolutely-will-end-up-on-ios/articleshow/78565167.cms" data-type="tilCustomLink">Microsoft told employees it plans to release a browser-based app for the Xbox Game Pass streaming service next year that will get around Apple App Store rules: 'We absolutely will end up on iOS'</a> <a href="https://www.businessinsider.in/politics/world/news/bidens-campaign-pulled-down-more-than-12-million-during-the-90-minute-vice-presidential-debate-between-kamala-harris-and-mike-pence/articleshow/78565032.cms" data-type="tilCustomLink">Biden's campaign pulled down more than $12 million during the 90-minute vice-presidential debate between Kamala Harris and Mike Pence</a>

Top stocks to watch — SBI, HDFC Bank, ICICI Bank, Future Retail, Adani Enterprises, Vedanta, Lakshmi Vilas Bank, Solar Industries, and others

<ul><li>The 30-share BSE index was trading 0.87% higher; while NSE Nifty jumped 96.05 points at 9:50 am </li><li>These were the top losers and gainers in the Nifty pack. </li><li>These are the top stocks that are buzzing in trade today.</li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider.</a> </li></ul>Indian stock market index Sensex jumped over 300 points in early trade on Monday, tracking gains in index majors ICICI Bank, HDFC Bank and Reliance Industries amid positive trend in Asian markets. The 30-share BSE index was trading 0.87% higher; while NSE Nifty jumped 96.05 points at 9:50 am These were the top losers and gainers in the Nifty pack: <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top Nifty Gainers </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top Nifty Losers </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">ONGC </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">TCS </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bajaj Finance </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Infosys </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Adani Ports </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Cipla </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tata Motors </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bharti Infratel </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Coal India </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">HUL </td></tr></tbody></table>*as of September 24, 10:00 am These are the top stocks in news today. Future Group stocks The shares of Future Group companies rallied after media <a href="https://www.thehindubusinessline.com/money-and-banking/biyani-close-to-deal-with-sbi-to-future-proof-insurance-arms/article32709290.ece">reports </a>claimed that as a part of a plan to cut down on debt, the Kishore Biyani-owned Future Group is set to ink a deal with State Bank of India for the sale of both the general and life insurance segments. At 9:50 am, Future Enterprises Future Lifestyle, Future Retail were locked in a 5% upper circuit set by the stock-exchanges. Hero MotoCorp rallied 2% The shares of Indian bike major Hero MotoCorp gained 2% after <a href="https://www.timesnownews.com/business-economy/companies/article/harley-davidson-close-to-deal-with-indias-hero-motocorp-after-stopping-local-manufacturing-sources/657938">media reports</a> surfaced that the US bike maker Harley Davidson is in talks with the Indian two-wheeler major to enter into a distribution arrangement. This will allow the Indian company to import and sell Harley bikes as its sole distributor. Indoco Remedies gain 5% The Mumbai based drug maker Indoco Remedies launched its own version of generic Favipiravir under the brand name Fevindo. The drug approved by DCGI in the treatment of Covid-19, Fevindo-400 is an antiviral drug, effective against the RNA‐based influenza virus. Vodafone Idea up 4% The shares of Vodafone Idea surged 4% during the early trade hours on Monday. This after the telecom regulator TRAI, decided to drop proceedings against Vodafone Idea in priority plan matter after the telco withdrew contentious claims on faster speed and modified its offering. Surya Roshni leaps 7% The shares of Indian multinational company Surya Roshni surged 7% after bagging ₹272.86 crore order for the supply of Coated API Line Pipes to GAIL (India) and Indradhanush Gas Grid (IGGL) for the North-East Gas Grid PipeLine project. PVR Limited up 7% PVR Limited shares surged during the early trade hours on Monday after Mamata Banerjee led West Bengal government has allowed the reopening of cinema halls from October 1 with certain Covid-19 restrictions. NTPC up 4% The shares of NTPC surged 4% after the state-owned company said it has successfully synchronized a 660-MW unit of its supercritical thermal power plant in Bihar with the grid. SEE ALSO: <a href="https://www.businessinsider.in/india/news/hyperloop-in-bengaluru-might-help-you-reach-the-city-in-10-minutes-from-the-airport/articleshow/78357354.cms" data-type="tilCustomLink">Hyperloop in Bengaluru might help you reach the city in 10 minutes from the airport</a> <a href="https://www.businessinsider.in/thelife/news/the-10-richest-family-aposdynastiesapos-in-asia-who-have-a-collective-net-worth-of-over-250-billion/10-the-kwek/slidelist/78298350.cms" data-type="tilCustomLink">The 10 richest family 'dynasties' in Asia, who have a collective net worth of over $250 billion</a>

Top stock movers — Future Retail, Hero MotoCorp, Indoco Remedies, Surya Roshni, PVR, Vodafone-Idea and more

On November 12, the <keyword id="6354335" type="General" weightage="20" keywordseo="reserve-bank-of-india" source="Orion">Reserve Bank of India</keyword> (RBI) <a href="https://www.rbiretaildirect.org.in/">opened up a portal</a> through which small investors can directly buy government bonds. Since then, the Nifty Bank, the index of banking stocks, on the National Stock Exchange (NSE) has lost nearly 7% of its value. One could argue that a larger sell-off in Indian stocks is at play but banks have been the worst hit among all sectoral indices. Three straight weekly declines in the stocks of some of the country’s biggest lenders ⁠has led to huge wealth erosion. Private banking giants like ICICI Bank, HDFC Bank and the government-owned State Bank of India (SBI) are some of the most common names in mutual fund portfolios. Aside from the compulsions of the traders who rely on signals on the charts alone, there are some fundamental fears at play too. As it stands today, retail investors can get better long-term returns as well as a wider protection by directly investing in government bonds compared to fixed deposits at banks. Bank deposits are insured by the government up to an amount of ₹5 lakh whereas the entire amount invested in government bonds are guaranteed by the sovereign. And, the returns are relatively exciting too. The returns on some small savings schemes ⁠— some of the long-term ones even offer tax incentives ⁠— offered by the government had already outpaced bank rates. The retail direct platform selling government bonds will only add to the existing pressure. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Investment product </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Interest rates </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Remarks </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Fixed deposits with banks (Returns depend on lender and tenure. Senior citizens get higher rates) </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2.5% to 6.2% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Longer the tenure, better the returns. But, interest is fully taxable. Deposits insured up to ₹5 lakh. </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Small savings schemes from the government </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">6.6% to 7.4% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">If the investment is unsold for over 3 years, the gains are eligible for indexation as well as a lower tax rate. </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Long-term government savings schemes like public provident fund </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">7.6% to 8.5% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">These investments can be used to claim tax rebates as well. </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Benchmark bond yield (tenure 10 years) </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">6% - 7.1% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Fully taxable. They come with sovereign guarantee. Direct investments, unlike going via debt funds, can reduce expense ratios. </td></tr></tbody></table> No wonder, reports suggest that big ticket investors like <a href="https://economictimes.indiatimes.com/markets/bonds/retail-bond-scheme-draws-strong-interest-from-nris/articleshow/87838650.cms">non-resident Indians</a> are getting wooed by the latest option of directly investing in government securities, which come with higher returns (compared to other fixed income products), a certainty in cash flow and without costs and commissions, and sovereign guarantee for the entire capital. The process may be a bit cumbersome for those without adequate patience for the infamous interfaces of India’s government websites. If the banks have to compete for deposits, the cost of funds will rise and eat into the profit margin. But that’s not the entire story For India’s banks, credit growth has improved but it is still far from the desired pace. Large corporations have still not ramped up investments and, therefore, borrowings have been tepid. This caps the lender’s ability to increase lending rates to cover the cost. Bank loans to industry at the end of September were lesser compared to six months earlier, according to RBI data. Most of India’s large companies and conglomerates are still in the process of repaying old loans and strengthening their balance sheets. Meanwhile, the growth in deposits moderated marginally to 10.1% in the 12 months to September, compared to 11% a year ago. These are a few points to consider for individual investors, including non-resident Indians, who are considering direct investments into India’s government bonds: Not all government securities are liquid. According to market watchers, only about 15 out of the 90 bonds available in the market are traded actively. The market is, currently, dominated by banks and institutional investors. Buying directly will be far easier than selling (before maturity) for smaller lots. After three years of holding, the return on investment in government securities via debt mutual funds is eligible for indexation (adjusting the cost to include impact of inflation) benefit while calculating capital gains. Direct investments are not eligible for the same. However, debt funds come with expenses which direct investments are free of. The money invested in these bonds now may lose its sheen once the interest rates start rising. Analysts at Goldman Sachs expect RBI to hike interest rates by 75 basis points in 2022. However, for now, there is enough headroom before the bank rates come at par with the bond yields. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/banks/news/rbi-changes-ownership-and-corporate-structure-norms-of-private-banks/articleshow/87932161.cms">IndusInd Bank promoter Hinduja Group may raise stake in bank to 26% after RBI’s latest change in private bank norms</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/telecom/news/mukesh-ambani-led-reliance-jio-hikes-prices-of-its-plans-by-21/articleshow/87965329.cms">Mukesh Ambani-led Reliance Jio hikes prices of its plans by 21%</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/investment/news/facebook-microsoft-and-others-look-towards-the-1-trillion-dollar-metaverse-opportunity-but-that-contradicts-the-base-philosophy-behind-web-3-0/articleshow/87959802.cms">Facebook, Microsoft and others look towards the $1 trillion dollar ‘metaverse’ opportunity — but that contradicts the base philosophy behind Web 3.0</a>

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