Full Time Trader. Stocks | Economy I Hotels I Cards I Long India | Political Views Past- Bank of America, D.U
Joined October 2009
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Couldn’t have framed it better for the steps required by Finance Ministry and RBI.
“Our own experience shows how negative real interest rates hurt household financial savings and divert money towards gold and property.”
“The order of priorities should be domestic savings, remittances, productive FDI and then FII flows.”
“A predictable, sensible tax regime for foreign investors is welcome.”
“We need patient capital, domestic and foreign, that finances productive investment, supports innovation and stays through business cycles.”
Hope the government circles are aware to the feedbacks.
The debate on FIIs, whose Indian equity holdings are close to $700 billion, needs a sense of proportion. FIIs provide valuable liquidity, support price discovery and can facilitate capital raising and investor exits. But their holdings are heavily concentrated in large listed companies. Their importance to financial markets should not be confused with being the principal source of finance for new businesses and innovation.
Consider the attention paid to the reported $65 billion in net FII equity outflows since September 2024. Over the last two financial years, India received nearly $300 billion in gross remittances and undertook investment exceeding $2 trillion, financed predominantly by domestic savings. Net FDI has also improved this financial year compared with the corresponding period last year. The scale of these sources of finance deserves far greater recognition.
East Asia’s economic miracles were built on high savings, sustained investment, skills and improvements in productive capacity. The 1997 crisis also demonstrated the risks of dependence on volatile foreign capital, particularly short-term foreign-currency borrowing. Foreign capital can help, but its composition and stability matter.
Domestic savings therefore deserve much more policy attention. Our own experience shows how negative real interest rates hurt household financial savings and divert money towards gold and property. Recent tax changes and changes to insurance regulation also risk weakening incentives for long-term saving. There is remarkably little discussion of these consequences.
We also need a strategy to sustain and expand remittances. As NRIs’ parents grow older and eventually pass on, an important reason for sending money home may weaken. Family ties can also become less immediate across generations. This is a foreseeable risk that deserves planning now. Encouraging NRIs and their children to explore more of India during return visits, and making investment in domestic housing simpler and more reliable, could help sustain their economic ties with India.
The order of priorities should be domestic savings, remittances, productive FDI and then FII flows. A predictable, sensible tax regime for foreign investors is welcome. But commentators do a disservice to the policy debate when FII flows and their taxation overshadow these larger questions.
Higher portfolio inflows alone will not transform our growth prospects. We need patient capital, domestic and foreign, that finances productive investment, supports innovation and stays through business cycles.
Alphabet Capital Expenditure:
2026: ~$200 Billion
2027: ~$300 Billion
India’s largest company (Reliance) market cap is $170 Billion.
Hindustan Unilever results were good today.
HUL’s management commented
that urban and rural demand are both showing resilience.
- Sales growth at 15%, highest after 14 quarters.
- Volume growth at 7%, highest after 21 quarters.
Home care was the strongest-performing segment, recording underlying sales growth of 22%, supported by double-digit underlying volume growth.
CEO & MD, Priya Nair said to @CNBCTV18Live
- Believe domestic economy is well placed, and so is the company.
- Expect a 10% efficiency in ad spends due to GenAI over time.
- Seen a step up in rural demand since last quarter.
Democrats have introduced a resolution that Congress should not bail out AI/SI firms in the event of a financial crisis and should be subjected to the ordinary bankruptcy process.
Democrats Midterms win is widely viewed as a potential turning point for AI policy, data-center infrastructure, and increased regulatory scrutiny. Also, as per BofA research, bond yields are expected to fall in risk-off trade. So a week of sharp correction in US stocks along with falling yield is the consensus. Post the initial reaction, all back to valuations and geopolitics.
What the U.S people think of India?
Read the replies to Pete Hegseth post on meeting with Indian Defence Minister Rajnath Singh.
Reek of “peak racism”
Israel elections = Bearish for Brent Crude ($115)
Preliminary 2026 Knesset election results in Israel with all regular votes counted are out.
Netanyahu’s right-wing and religious bloc at 53 seats, Eisenkot-led opposition at 48, and Arab parties at 19.
The hung parliament reduces probability of aggressive Israeli-led action Iran and is bearish for Crude Oil.
The verdict created political uncertainty and weakens the chance of a strong, unified Israeli government pushing maximalist escalation alongside Donald Trump.
Whenever Anant Ambani speaks, he
walks a step further into the “Hall of Fame”
By the time, he turns 50, his presence and aura would be unmatched.
I had to make sure that this is not a parody account of PM Narendra Modi.
Ballot Papers returns.
Congress: 0 seats across all 4 states when counting was made by “Ballot”
Mukesh Ambani creates yet another record.
Jio Platforms ends the day at a valuation of ~ $136 billion. (13 lakh crore).
Only the 4th company ever and the first Indian company to get public listed at a valuation of $100B plus right from the start on Day 1.
The other three are iconic names:
- Alibaba
- Meta
- SpaceX by @elonmusk
Anthropic and Open AI are not publicly listed yet.
The IPO saw highest ever recorded demand in India at ~5 lakh crore and highest ever applications at 1.38 crore.
Well timed by Ashwini Vaishnaw to fact check a perpetual offender.
This is how, India should counter misinformation real time.
Andy has apparently been repeatedly found writing against any policy that works well for India and is a habitual critic of India’s growing clout.
Look at the vitriolic hate in his past articles:
1. “India Hoped for an Abe. It Got a Lost Decade” (May 2019, post PM Modi’s win in his second term of Lok Sabha)
2. “One Contagion Is More Than Enough for India” (April 15, 2020 where he warns of a financial/credit contagion on top of the health crisis, given already stressed banks and the limited role given to finance in cushioning incomes and supporting recovery.)
3. “India’s New Vaccine Strategy Is Bad Economics” (April 26, 2021, where he criticises “low cost” of vaccines in India, with a shift of a large share of vaccine costs and procurement to state governments and private hospitals )
4. “Why India Should Buy Chinese Vaccines” (May 27, 2021 where he recommends buying Chinese vaccines (Sinovac/Sinopharm) despite lower efficacy and geopolitical sensitivity and criticises India’s home made vaccines like Covishield/Covaxin)
5. “India Won’t Get a V-Shaped Recovery This Time” (June 1, 2021 where he argues that, unlike after the first wave, the intensity of the second wave would prevent a quick V-shaped rebound. )
6. “India’s Decades-Long Political Truce Is Over” (April 21, 2026 criticizing constitutional amendment bill to expand Parliament by ~50% (tied to women’s reservation).)
7. “Modi’s Growth Mythology Needs a Reboot” (January 13, 2025)
8. “Modi Put Up Tariff Walls. Now He Must Bring Them Down” (July 18, 2024, Criticising India instead of USA)
9. “India Fintech is Fraudulent”
10. “Why is Modi so nervous if he is winning third term?”
11. “Why I am losing Hope in India?”
12. “Questioning Ban on Betting apps”?
and many more.
xitter.gq/withritesh/status/1970…
Don’t understand whether its a deliberate malice or vacuous stupidity, that India-hating columnists are promoted.
@MinhazMerchant @aravind
Probably, I was among the first ones to call out that Jio Platforms will become second largest company on listing in India and will have a market cap greater than Bharti Airtel.
Most experts and news channels were expecting Jio to be 4th largest behind Reliance, Airtel and HDFC.
Stellar listing.
Jio Platforms will become India’s second largest company by Market Capitalisation on listing day.
Current Rank:
1. Reliance: 16 Lakh crore
2. Bharti Airtel: 11 Lakh crore
3. HDFC Bank: 11 Lakh crore
4. ICICI Bank: 9.6 Lakh crore
5. SBI: 8.9 Lakh crore
Jio Platforms listing at ~14 Lakh crores will take it to #2
Over a period of one year, Jio will
may surpass Reliance and become the largest listed company. #Nifty #Sensex
The good results / bullish outlook by Maruti Suzuki and Bajaj Auto spells good for Mahindra (M&M), currently at 2,850.
Maruti raised the guidance for FY27 volume growth to mid-teens from 10% earlier.
Jio Platforms lists at 1,358, becomes second largest company on Stock exchanges.
Current Rank:
1. Reliance: 16 Lakh crore
2. Jio Platforms: 12.5 lakh crore
Both Mukesh Ambani 👆
3. Bharti Airtel: 11.9 Lakh crore
4. HDFC Bank: 10.5 Lakh crore
5. ICICI Bank: 9.8 Lakh crore
6. SBI: 8.9 Lakh crore
Jio Platforms will become India’s second largest company by Market Capitalisation on listing day.
Current Rank:
1. Reliance: 16 Lakh crore
2. Bharti Airtel: 11 Lakh crore
3. HDFC Bank: 11 Lakh crore
4. ICICI Bank: 9.6 Lakh crore
5. SBI: 8.9 Lakh crore
Jio Platforms listing at ~14 Lakh crores will take it to #2
Over a period of one year, Jio will
may surpass Reliance and become the largest listed company. #Nifty #Sensex
Jio Platforms lists at 1,358.
By Market Capitalisation now, the top two companies on Indian Stock exchanges belong to Mukesh Ambani.
1. Reliance Industries
2. Jio Platforms
Jio Platforms set to become the third largest listed company today on India’s stock exchanges?
Subscribed 22x priced at ₹1,119.
Jio may start by listing 10% up at around 1,230 which will give it a market cap of 11.5 lakhs crore.
If it lists at ~20% up around 1,340, it will become the second largest company.
Bharti Airtel is 12 lakh crore.
Number 1 is Reliance Industries.
The premium over the IPO price has continued to hover around 20% for roughly 10 days, which is unusually resilient for an offering of this size and in this kind of bearish market set up.
#Nifty #Sensex
On expected lines:
“Washington signals potential short, sharp escalation in Iran War after U.S. Midterm Elections” - Wall Street Journal
Post, the short escalation, Donald Trump will declare “self-victory” and will announce pathway to withdraw from the region.
The bond yield top is done in USA till Midterms end. (November 3)
Even after a hot CPI print yesterday, 10 year bond first moved to 5.32%, then retraced back and ended negative and is now at 5.10%
Positive for Indian Rupee and markets for at least a fortnight.
Post midterm, risk of Iran-USA war escalating for 7-15 days is a real chance before it eventually ends.
Jio Platforms set to become the third largest listed company today on India’s stock exchanges?
Subscribed 22x priced at ₹1,119.
Jio may start by listing 10% up at around 1,230 which will give it a market cap of 11.5 lakhs crore.
If it lists at ~20% up around 1,340, it will become the second largest company.
Bharti Airtel is 12 lakh crore.
Number 1 is Reliance Industries.
The premium over the IPO price has continued to hover around 20% for roughly 10 days, which is unusually resilient for an offering of this size and in this kind of bearish market set up.
#Nifty #Sensex
Jio Platforms will become India’s second largest company by Market Capitalisation on listing day.
Current Rank:
1. Reliance: 16 Lakh crore
2. Bharti Airtel: 11 Lakh crore
3. HDFC Bank: 11 Lakh crore
4. ICICI Bank: 9.6 Lakh crore
5. SBI: 8.9 Lakh crore
Jio Platforms listing at ~14 Lakh crores will take it to #2
Over a period of one year, Jio will
may surpass Reliance and become the largest listed company. #Nifty #Sensex