Sourav Majumdar
Read biographySourav Majumdar has been a financial journalist for over 18 years. He has worked with leading business newspapers and covered the corporate sector and financial markets. He is based in Mumbai.
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FII flows remain robust in Q3; holding in BSE100 at all-time high
Foreign institutional investors continued to pour money into Indian equities in the third quarter of FY13, pumping in $8.4 billion during the period. FIIs now hold about 20 percent in the BSE100, which is an all-time high. By contrast, domestic institutional investors (DIIs) sold $3.4 billion during the quarter. FII flows #auto #BFSI #BSE Sensex #equities #ExpertView #FII inflow
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Task cut out for FM, RBI after December IIP print
If there is any positive to be taken from the latest Index of Industrial Production (IIP) print of December – which showed factory output dropping to a negative of 0.6 percent as opposed to expectations of a 1.1 percent increase which a Reuters poll put out—it is that the task #Chidambaram #Growth #IIP #India Inc #RBI #Subbarao
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Mariwala’s ASCENT completes first wave, total turnover nears Rs 9k cr
Marico Ltd's Chairman and Managing Director Harsh Mariwala’s personal initiative to groom growth-ready entrepreneurs, ASCENT, is now ready for the next level of expansion, having completed what it calls its ‘first wave’. The initiative, a peer-to-peer enabling platform where entrepreneurs can learn from each other and share experiences while scaling #Ascent #Harsh Mariwala #Marico #Startup #VeryCloseUp
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India’s long-term growth potential 7%, says Goldman Sachs
In what is clearly a strong endorsement of the new-found reform momentum of the government, a Goldman Sachs report has said the long-term potential growth rate of the Indian economy is 7 percent, which could even be ‘notably higher’ if the reform process gained momentum. In a report Growth Markets Perspective: #FDI #Goldman Sachs #India #ThisisNext
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Budget 2013: Heavy tax driving investors away from equity, says BSE chief
Ashish Chauhan, the Managing Director and CEO of BSE Ltd, Asia's oldest stock exchange, feels the forthcoming Union Budget for 2013-14 must be one which is aimed at creating more jobs. In a pre-Budget video interview with Firstpost, Chauhan also made it clear that the equity capital markets were currently bearing #Ashish Chauhan #BSE #budget2013-videos #equity
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BSE bets big on SME platform, sees 30 listings by March
BSE Ltd, Asia’s oldest stock exchange, has begun betting big on its trading platform for small and medium enterprises (SMEs), and expects about 30 companies to be listed on the SME Platform by March 2013. In an exclusive interview to Entrepreneur magazine, BSE Managing Director and CEO Ashish Chauhan said the #BSE #BSE SME IPO Index #SMEs #VeryCloseUp
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PVR begins audit of Cinemax properties, no decision yet on branding
PVR, the multiplexes and film distribution major, has begun a detailed audit of the properties of Cinemax, which it acquired recently in a Rs 543 crore takeover propelling PVR to pole position in India’s multiplexes stakes. The audit, which began recently, would take a couple of months, after which PVR would #audit #Cinemax #CorporateStrategy #M&A #PVR
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One more rate cut likely in March, feel experts
Expectedly, India Inc, markets and analysts have given a thumbs up to the Reserve Bank of India for lowering its benchmark repo rate by 25 basis points in its January policy review, and cutting the cash reserve ratio (CRR) by another 25 bps. In fact, given the policy guidance from #India Inc #MonetaryPolicy #Rate cut #RBI
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What the RBI rate cut means: Chidu is no longer walking alone
Finally, Finance Minister Palaniappan Chidambaram can afford a smile. The Reserve Bank of India’s decision to reduce the benchmark repo rate – the rate at which the RBI lend short-term funds to banks – by 25 basis points would certainly be good news for a finance minister battling heavy odds #CRR cut #Monetary policy #Repo Cut #Third Quarter Review
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With stronger balance sheet, IndusInd keen on acquisitions
The Hindujas-controlled IndusInd Bank, which has witnessed a sharp turnaround in fortunes over the past few years, is keen on acquisitions. IndusInd managing director and CEO Romesh Sobti told Entrepreneur in an interview that the bank now has “acquisition currency” and hence is ready to grow through the inorganic route. Sobti, #acquisitions #Deutsche Bank #HDFC Bank #IndusInd Bank