News digest: Sebi ownership notice, rupee falls, RCEP talks, and more

At least a dozen FPIs wrote to the prime minister, finance minister and Sebi, saying that the move will hit a third of the overseas assets in the country

FPIs ring alarm bells on Sebi ownership notice; $75 bn assets could be hit
 

Foreign portfolio investors (FPIs) have upped their ante against a circular issued by the market regulator, Securities and Exchange Board of India (Sebi), on beneficial ownership of offshore funds. 

At least a dozen FPIs, including Amansa Capital, Helios and Morgan Stanley Asset Management — which operate from outside India but have links to the county — wrote to the prime minister, finance minister and Sebi, saying that the move will hit a third of the overseas assets in the country. Read More

Market share a fictional goal, we will focus on products: Anand Mahindra

Anand G Mahindra, chairman, Mahindra and Mahindra, tells Shally Seth Mohile that market share is a fictional goal as long as the company is able to deliver healthy returns to the shareholders and come out with models that people aspire to. On the sidelines of the launch of the Marazzo, a seven-seat model, at the company’s facility in Nashik, Mahindra touched upon the changing market dynamics in the utility vehicle segment. He pointed out that the new model had been co-developed across three continents, and signalled the company’s arrival as a global player. Edited excerpts: Read More

10-year bond yield touches 8%, Rupee falls to 71.18 against dollar

The 10-year bond yields touched 8 per cent for the first time since December 2014, while the rupee hit a record low at 71.18 against the dollar even as the local equities fell sharply on Monday Read More

Maharashtra’s builders, buyers in jam after SC bans construction activity

Property construction projects to the tune of Rs 1 trillion and infrastructure projects worth nearly double of that in Maharashtra will be stuck in the pipeline till October 9, with the Supreme Court’s (SC) recent ban on construction activity in the state. The cash collection of developers as well as their costs and litigation are going to rise as a consequence. Read More

Singapore RCEP talks hit tariff roadblock

A lack of consensus on tariff and market access issues would make it tough for the member nations to conclude talks on the Regional Comprehensive Economic Partnership (RCEP) pact by end of the year, according to the Commerce Ministry. It is learnt that the latest talks on the subject, between RCEP trade ministers in Singapore, remained deadlocked, adding to the uncertainties over a deal. Read More