Page 4 - Jp Morgan

India needs to monetise assets to support spending, says JPMorgan

The federal budget released Tuesday targeted a smaller fiscal deficit for this year on the back of a record dividend from the Reserve Bank of India

Foreign banks lead as largest investors in debt, says RBI report

It says their investments surpass net inflows into JP Morgan index-eligible bonds

FPIs put Rs 7.9K cr in equities in July, investment over Rs 1 trn in 2024

Foreign investors infused over Rs 7,900 crore in Indian equities in the first week of the month amid a healthy economic and earnings growth momentum. With this, total FPI investment in equities reached Rs 1.16 lakh crore so far this year, data with the depositories showed. Going forward, the Union Budget and Q1 FY25 earnings could determine the sustainability of FPI flows, experts said. According to the data, foreign portfolio investors (FPIs) have made a net inflow of Rs 7,962 crore in equities so far this month (till July 5). This came following an inflow of Rs 26,565 crore in equities in June, driven by political stability and a sharp rebound in markets. Before that, FPIs withdrew Rs 25,586 crore in May on poll jitters and over Rs 8,700 crore in April on concerns over a tweak in India's tax treaty with Mauritius and a sustained rise in US bond yields. Some funds were probably waiting on the sidelines for the election event to be over, Milind Muchhala, Executive Director, Juliu

Slower than expected pace of foreign inflows keep bond yields steady

Debt market witnessed Rs 3,370 crore inflows in two trading sessions following the inclusion of Indian bonds in JP Morgan's index

Investor confidence

Index inclusion also has risks

Indian govt bonds now part of JP Morgan's bond index. Here's what it means

Indian government bonds enter JP Morgan's GBI-EM Index, expected to attract $30 billion in inflows

Govt securities to be included in JP Morgan Bond Index from June 28

Indian government bonds or government securities (G-secs) would be included in JP Morgan-Emerging Market Bond Index beginning Friday, a move that will bring down borrowing cost for the government. The inclusion of IGBs will be staggered over a 10-month period from June 28, 2024 to March 31, 2025, indicating one per cent increment on its index weight. India's weight is expected to reach the maximum threshold of 10 per cent in the GBI-EM Global Diversified, and approximately 8.7 per cent in the GBI-EM Global Index. This would help attract higher foreign flows, as many overseas funds are mandated to track global indices. It will also help bring in large passive investments from overseas, as a result of which more domestic capital would be available for industry, as crowding out would be reduced. In her Budget speech for 2020-21, Finance Minister Nirmala Sitharaman had said, Certain specified categories of government securities would be opened fully for non-resident investors, apart f

Explained: India inclusion in JP Morgan EM Bond index, market impact & more

India inclusion in JP Morgan Bond Index: The inclusion process will begin on June 28, 2024 and will be completed over a period of 10 months, till March 2025

JPMorgan India Bank CEO Prabdev Singh quits before end of term: Report

Singh, popularly known as PD, had received regulatory approval in January 2023 for a three-year term as CEO of JPMorgan Chase Bank India

JP Morgan India bond index inclusion impact: Weight cut likely for 3 EMs

To accommodate India's 10 per cent weight in the GBI EM index, HSBC said in a recent note, a reweighting will occur for other EM peers in the index, which will see a reduction in their weights.

Major inflows via JP Morgan bond index inclusion yet to materialise: HSBC

Indian government securities have seen inflows of $10.4 billion since the index inclusion announcement in September 2023

Warburg, Temasek & JP Morgan sell 13.7% stake in CarTrade for Rs 535 cr

Warburg Pincus, Temasek Holdings and JP Morgan Investment on Monday divested a total of 13 per cent stake in CarTrade Tech for Rs 535 crore through open market transactions. Highdell Investment, an arm of US-based Warburg Pincus, sold the shares of CarTrade Tech while Singapore's sovereign wealth fund Temasek Holdings' affiliate MacRitchie Investments offloaded shares of the company on the BSE. CMDB II, a private equity fund run by JP Morgan Investment Management also sold the shares of CarTrade Tech through a bulk deal on the National Stock Exchange (NSE). A total of 64.57 lakh shares or 13.77 per cent stake were pared by Warburg Pincus, Temasek and JP Morgan. According to the bulk deal data available on the BSE, Highdell Investment sold 40.65 lakh shares, amounting to an 8.66 per cent stake in CarTrade Tech. MacRitchie Investments sold 20.32 lakh shares or 4.33 per cent stake in Mumbai-based CarTrade Tech. The shares were sold in the price range of Rs 828-828.58 apiece by the tw

Statsguru: India's index inclusion may bring capital into the country

Since May 2024, foreign investors have been net buyers in the debt market, even as they have been net sellers in the equity market over the last two months

India set for $2 bn bond inflows around JP Morgan index inclusion day

The $2 billion, single-day inflow estimate by four bankers trails only the record-high $2.7 billion poured into Indian bonds on Aug. 20, 2014

Ahead of JP Morgan's inclusion, HSBC sees $250 mn of India swap deals

The British bank, via its unit in the International Financial Services Centres Authority, carried out the so-called total return swap deals worth more than $250 million

Ashmore plans to buy more Indian bonds as JPMorgan inclusion nears

Indian sovereign bonds have seen about $9.5 billion of inflows into the so-called Fully Accessible Route - or FAR securities - since the JPMorgan announcement in September

India bond ETF assets grow by a third after index inclusion announcement

LGIM pioneered and launched an Indian government bond-dedicated ETF in October 2021, which currently has around $700 million of assets, making it the largest of the five such ETFs

'Most JP Morgan index clients to invest directly in Indian govt bonds'

India's inclusion in global bond indices was discussed for nearly a decade before the inclusion in the widely tracked JP Morgan index was finally announced last September

FPI inflow may hit $2 billion a week if BJP wins elections 2024: Nomura

On the other hand, if BJP fails to win the elections, Nomura expects outflows from the forex channel to be over $30 billion in a couple of weeks.

JPMorgan to increase India headcount by 5%-7% over next few years: Top exec

The New York-based lender already employs about 55,000 people, about a fifth of its global workforce, across five Indian cities