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Wednesday, December 06, 2017

Over 1,000 new FPIs register with Sebi in 7 months of FY'18
As many as 1,064 fresh foreign portfolio investors (FPIs) were registered with Sebi in April-October 2017-18 mainly due to their continued interest in the Indian capital markets, latest data from the regulator showed. This comes on top of close to 3,500 new FPIs registering with Sebi in the past fiscal. The number of FPIs with the markets regulator climbed to 8,871 at the end of October from 7,807 at March-end, resulting in an addition of 1,064, according to Sebi data. "The reason for increasing FPI registrations is continued interest in the Indian equity, bonds and real estate," said Arvind Chari, head, fixed income and alternatives, Quantum Advisors.

Daily trading turnover on BSE's India INX crosses Rs 1,000-cr
BSE-promoted India International Exchange (India INX) has crossed the Rs 1,000-crore mark (USD 157 million) in daily trading turnover for the first time. Total daily trading turnover on the exchange reached this milestone on Monday. This is the highest daily trading volume recorded by the exchange since inception, accounting for 75% of the total trading volumes in Gift City. "The increased trading activity is a validation for the new products and initiatives that we are taking for our clientele. We are positive that the trading volumes will only grow higher from here on," INX MD and Chief Executive Officer V Balasubramaniam said in a statement.

Mahindra rolls out petrol XUV500 at Rs 15.49 lakh
Mahindra & Mahindra (M&M) yesterday launched petrol variant of its SUV XUV500 priced at Rs 15.49 lakh (ex-showroom Delhi). The new trim would only be available with a 6-speed automatic transmission sourced from AISIN, Japan. The model is powered by its indigenously developed 2.2 litre mHawk petrol engine which generates 140 HP of power. "The introduction of the XUV500 G AT petrol variant will excite consumers who have been eagerly awaiting a petrol option," M&M Chief of Sales & Marketing -Automotive Division Veejay Ram Nakra said in a statement.

Dahua, JVSG collaborate to optimize surveillance system planning
Dahua Technology, a leading solution provider in the global video surveillance industry, announced its partnership with IPICA, Ltd. (widely known as JVSG), a professional CCTV design software company. Starting early December of 2017, JVSG’s IP Video System Design Tool supports most of Dahua video products. Gao Jiaqi, Dahua Overseas Marketing Manager, said: “As a global leading surveillance products and solutions provider, Dahua is committed to offering users with innovative products and solutions and at the same time develop application tools to ease product selecting, site designing jobs for our users. The integration with JVSG provides our users with simple, easy-use and flexible site-designing tool for our users.”

Container volumes at Indian ports up 10% in Q2FY18
Container traffic in India grew 10% for the July-September period, the first time this year that it has passed the double-digit mark. "It is the first time that the psychological level of 10% has been crossed and it is very important," Steve Felder, the managing director for Maersk Line, told PTI. The volume growth outpaces what was achieved in the last twelve months and he said the company expects the same to continue in the last quarter of the year as well. Felder said this growth is "outperforming" industry expectations and much faster than many of India's emerging market peers.

Agri experts pitch for income security for farmers in Budget
Agriculture experts yesterday made a case for providing income security to farmers at pre-Budget consultations with Finance Minister Arun Jaitley. Agriculture provides employment to 48.9% of the total work force in India although their contribution to the GDP is less than 20%. According to Consortium of Indian Farmers Association (CIFA) Secretary General B Dasaratha Rami Reddy, there is a need for Income Security Act for farmers, tenant farmers and farm labourers. "The median income of farmers in 2012 was about Rs 1,600 per month, which is meagre to sustain... Hence, the farming community of India demands Income Security Act for farmers as well as tenant and farm labours," he said after the meeting.

60% of PMUY beneficiaries bought 4 LPG refills: Pradhan
As many as four LPG cylinders are bought by about 60% of the 3.2 crore poor women who were given free cooking gas connection, Oil Minister Dharmendra Pradhan said yesterday. Since launch on May 1, 2016, more than 3.2 crore LPG connections, each costing Rs 1,600, have been given to poor women under the Pradhan Mantri Ujjwala Yojana (PMUY). This is more than half of the 5 crore free LPG connection target sector for three years. "We have studied the first year consumption pattern and have found that about 60% of the beneficiaries on an average bought four refills. This is a very encouraging trend and we hope the number will increase in future," he said.

Shalby IPO subscribed 20% on Day 1
The initial public offer of Shalby Ltd, Ahmedabad-based multi-specialty hospital chain, was subscribed 20% on the first day of the three-day bidding today. The IPO, which aims to raise Rs 504 crore, received bids for over 29.32 lakh shares against the total issue size of more than 1.45 crore scrips, indicating a subscription of 20%, data available with National Stock Exchange (NSE) showed. The initial share sale of Shalby will be open for public subscriptions till December 7. Shalby, on Monday, raised over Rs 150 crore from anchor investors.

Google, Tata Trusts to create employment via Internet Saathi
Google yesterday said it will expand its Internet Saathi programme in India -- run in partnership with Tata Trusts -- to create "digitally-enabled livelihood opportunities" for women. Launched in July 2015, Internet Saathi programme aims to facilitate digital literacy among women in rural India. It has so far, trained 30,000 Internet Saathis, who have in turn influenced 12 million women in the country. "Internet usage by women in rural areas is a challenge. Earlier, only 1 in 10 Internet users in rural India was a woman. Two years later, this has grown to 3 in 10," Google Marketing Head (South East Asia and India) Sapna Chadha told PTI.

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