- Wealth PMS (50L+)
The Slack group at Capital Mind Premium has been extremely active and if you haven’t been there, pop us a note by replying to this email.
A brief summary of some of the interesting things discussed there in the last few days:
India plans to introduce a 25% tax on sugar exports to maintain local supplies, the government said on Thursday, a move that could further push up global prices of the sweetener and boost shipments from Thailand.
Sugar output in India, the World’s no. 2 producer behind Brazil, is expected to decline this year due to a drought in major growing regions, while global prices have risen to two-and-a-half year highs. (Link)
In a freewheeling conversation, veteran investor Shankar Sharma of First Global talked to CNBC-TV18’s Anuj Singhal for the show Unplugged. Excerpts from the interview. (Link)
Russia’s central bank cut its main lending rate on Friday for the first time in almost a year, signalling confidence that inflation risks are declining and describing an economic recovery as “imminent”.
The rate cut comes at a time when Russia’s economy, plagued in the past few years by plunging oil prices and Western sanctions over the Ukraine crisis, is now showing signs that the worst is behind it. (Link)
European equities could lose about a quarter of their value in the immediate aftermath of a U.K. secession from the European Union, a study testing the effects of Brexit showed. (Link)
The Securities and Exchange Board of India (Sebi) has tightened its know-your-client (KYC) and disclosure rules on issue of participatory notes (P-notes), to curb misuse of the investment route used by foreign investors not registered in India. these take effect from from July 1. (Link)
Polling carried out for ‘The Independent’ shows that 55 per cent of UK voters intend to vote for Britain to leave the EU in the 23 June referendum. (Link)
The Modi government has ringed in some acche din for fliers by reining in runaway flight cancellation charges. Among the slew of flier-friendly measures announced on Saturday, the aviation ministry said cancellation fees cannot exceed base fares. In effect, that means everything collected above that fare should be returned to the customer. (Link)
After missed payments, threats and a compromise, Anil Ambani’s power distribution companies in Delhi will still owe state-run NTPC over Rs 880 crore by September. (Link)
Baba Ramdev is parlaying his popularity as a yoga guru to build a Consumer Products Empire that’s up against global giants like Unilever and Colgate. (Link)
Chinese independent oil companies are luring traders, marketers and risk managers away from dominant state behemoths, offering better pay and perks in a hiring spree triggered by the freeing up of China’s crude import trade.
Global oil firms and commodity houses have also been raiding state giants such as Sinochem and CNPC for staff to help handle up to $50 million a day in new crude flowing into China this year, and the cherry-picking of talent is likely just getting started. (Link)
Palaniappan Chidambaram, who left the Indian economy tottering when his UPA government was voted out of power in 2014, now believes that the 7.6 percent GDP figure for 2015-16 put out by the Central Statistics Office (CSO) is questionable. In a recent column in The Indian Express, he wrote:
Ever since the CSO moved to the new method of calculation, there has been growing scepticism. Analysts have pointed to several aspects of the new methodology that are suspect.(Link)
The author of “The Lean Startup” and his team are in early talks with the Securities and Exchange Commission. (Link)
The Reserve Bank of India has thrown a lifeline for over leveraged companies and banks to put an end to future bad loans by permitting capital restructuring which would see banks taking equity in companies. But the plan comes with a lot of riders that limit scope for promoters gaming the system, and banks don’t sweep doubtful loans under the carpet. (Link)
Markets regulator Securities and Exchange Board of India has modified norms for buy-back of shares through the tender offer route, making it mandatory to reserve 15 per cent of the offer for retail investors with holdings up to Rs 2 lakh in the company. (Link)
The Mahindra & Mahindra chairman is a self-effacing tycoon who lets his A-team have the final say. (Link)
Past trends show that a weak rupee leads to outsize drops in the equity markets. (Link)
Nothing in this newsletter is financial advice and should not be construed as such. Please do not take trading decisions based solely on the matter above; if you do, it is entirely at your own risk without any liability to Capital Mind. This is educational or informational matter only, and is provided as an opinion.