‘FPIs likely to withdraw $3-4 bn in short term’
The Hindu
Pandemic risks heavy outflows: UBS
Foreign portfolio investors (FPIs) have pulled out $2 billion from Indian equities as they are getting fidgety amid surging pandemic case loads and are likely to withdraw $3-4 billion more in the short-term, foreign brokerage warns. FPIs had pumped in a record $39 billion in FY21. Owning $555 billion of the $2-trillion domestic equities, FPIs are the biggest market-makers and market-breakers in the domestic equity market.
Air India has signed an agreement with Bengaluru Airport City Limited (BACL), a subsidiary of Bangalore International Airport Limited (BIAL), to develop a built-to-suit facility for the AME program that will feature modern classrooms, well-equipped laboratories for practical training and a team of qualified trainers.
Zepto raises $350 million in largest domestic fundraise in India, backed by leading financial institutions and notable individuals.
Adani Enterprises Ltd stock dips on NSE and BSE after Kenyan project cancellations and U.S. court allegations.
HSBC Flash India PMI shows uptick in private sector activity, with rising cost pressures and increased prices for customers.
Rupee rises slightly against US dollar amid geopolitical pressures, foreign outflows, and domestic equities; Brent oil surges.
Sensex and Nifty rebound in early trade driven by value buying, bank stock rally, and positive global cues.
The pandemic-induced downturn marked a turning point for cab drivers in Bengaluru. According to Tanveer Pasha, president, Ola and Uber Drivers’ Association, the number of active cabs in the city has dropped from over 1 lakh before the pandemic to just around 30,000 today.
Amazon will likely face an EU investigation next year into whether it favours its own brand products, said sources.
White House addresses bribery charges against Indian billionaire Adani, expresses confidence in U.S.-India relationship.
NTPC Green Energy IPO oversubscribed by 93% on day 2, raising ₹3,960 crore for renewable energy projects.
Chief Economic Advisor advises India Inc to focus on productivity, R&D, and quality over reliance on weak currency for exports.