- 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:
Americans pay the highest prices in the world for cancer drugs, but the treatments are least affordable in lower income countries, according to the results of a new study released on Monday.
The study of cancer drug prices in seven countries, which did not take into account discounts or rebates to list prices, was presented at the annual meeting of the American Society of Clinical Oncology in Chicago. (Link)
India stock indices are among the most expensive in the world. The benchmark BSE Sensex and NSE Nifty are trading at nearly 2.9x their book value, higher than most of the other indices in developed and emerging markets. US S&P 500 is trading at 2.8x while Indonesia benchmark index is trading at 2.3x and Shanghai benchmark index is trading at 1.6x its trailing 12-months underlying book value. Indian indices also offer one of the lowest dividend yields among major world indices. (Link)
Prices may come down of 56 important medicines used in treatment of cancer, diabetes, bacterial infections and high blood pressure, with the government fixing their ceiling prices under the drug pricing control mechanism. (Link)
More than two-thirds of subscribers to The Daily Telegraph will vote for Britain to leave the European Union, according to a survey.
A survey of nearly 19,000 subscribers found that 69 per cent are intending to back a Brexit at the June 23 referendum. (Link)
Those with requisite risk appetite could bet on SBI’s 10-year gilt ETF, using either the asset allocation or tactical investment approach. (Link)
The agenda paper for the finance minister’s meeting with public sector banks on Monday revealed ‘Credit to manufacturing MSEs (micro & small enterprises) has shown a negative growth’, which is contrary to government claims.
When asked, the minister of state for finance Jayant Sinha described his own Reserve Bank of India-sourced ministry’s data wrong. (Link)
Amazon.com Inc. will invest $3 billion more to build its business in India, stepping up its bet that the country will become a major online-shopping market that will fuel sales growth.
The latest commitment, unveiled by Chief Executive Officer Jeff Bezos at the U.S.-India Business Council’s Leadership Summit in Washington, more than doubles Amazon’s total pledged investment since 2014 to $5 billion. (Link)
The reappointment, or not, of Reserve Bank of India (RBI) head Raghuram Rajan has caused enough of a stir to be known locally as “Rexit”, a play on Britain’s EU referendum, reflecting the esteem in which the governor is held at home and abroad.
Were Rajan to leave when his tenure ends in September, Indian markets are expected to fall to reflect his standing, but some foreign fund managers are of the view that, even if he does go, it would not be the end of the world. (Link)
Fang Tao’s hopes of striking it rich in the Chinese stock market died as his investments plunged by half over the past year. Now, he’ll be happy just breaking even.
The 28-year-old employee of a clothing company in Shanghai has pared his allocation to equities by as much as 15 percent since Chinese shares peaked last June. He sees no sign of the Shanghai Composite Index returning to its highs anytime soon, despite efforts by the ruling Communist Party to prop up the market. (Link)
Chasing the promise of outsized returns, 48-year-old businessman He Xiaolun started trading oil last August on a platform developed by the Shaanxi Non-ferrous Metal Exchange. (Link)
The term “watch list” is a bit misleading, giving the impression that the loans on the list may eventually turn out be healthy. But Axis Bank stated 60% of the watch list will become non-performing assets. (Link)
Saudi Prince Alwaleed bin Talal Al Saud is seeking to sell Toronto’s landmark Four Seasons hotel for almost C$1 million ($780,000) a room in what would be the highest price for a hotel in Canada, according to people familiar with the matter. (Link)
The Tories favorite pollster has predicted Britain will vote to leave the European Union.
Lord Hayward, one of the few election experts who predicted a Conservative majority at the general election, has said that unless something “substantial” changes, the “balance of probability” is that the nation will vote to Leave. (Link)
Inside the Asset Purchase Programme – Link
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