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Economic Times
2 days ago
- Business
- Economic Times
FIIs' bearish derivatives bets on India surge to a 5-month high
Foreign investors are showing caution towards the Indian stock market. Derivative bets indicate a bearish outlook. Uncertainties surrounding global trade tariffs are a major concern. Muted quarterly results also contribute to the negative sentiment. The long-short ratio, a key market indicator, has fallen significantly. This reflects increased short positions by foreign institutional investors. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Mumbai: Overseas fund managers ' bearish derivative bets on India are at a five month-high as simmering uncertainties around tariffs and rich share valuations have made them wary about the market's near-term long-short ratio-a market sentiment indicator that compares the number of traders betting on a rise in prices (long positions) to those betting on a fall (short)-based on foreigners' derivative positions stood at 15% on Friday-lowest since February ratio reflects an aggressive build-up of short positions and a cautious near-term outlook from institutional investors, said Sudeep Shah, head, technical and derivative research at SBI ratio has sharply dropped from 36.7% at beginning of July, and from 20.2% at end of previous week, indicated data from SBI Securities. "Global trade tariff-related uncertainty amid fresh tariff threat by US to BRICS members and fresh tariff letters to many countries across the globe, along with muted quarterly numbers are the key reasons behind the recent fall in FIIs' long-short ratio ," said Vipin Kumar, assistant VP of derivatives and technical research at Globe Capital long-short ratio of foreign portfolio investors' bets was between 10% and 20% late last year and early in 2025, when the sentiment was a lot more bearish. Nifty and Sensex, which gained about 13% in over three months, declined nearly 1% each, marking their third straight weekly drop after a weak set of earnings by some banks and IT companies contributed to the ended at 24,968.4 levels on Friday, below the 25,000 mark for the first time since June 23. In July, FPIs have net sold Rs 17,000 crore after buying Rs 7,500 crore in June and Rs 11,770 crore in week, Citi downgraded India to 'neutral' from 'overweight', citing elevated valuations and a moderation in earnings growth forecasts. Jefferies' global equity strategist Chris Wood said markets are celebrating the 'AI capital expenditure trade' while ignoring risks from US President Donald Trump's renewed tariff technical charts are pointing to weakness in the stock market in the near-term, an extremely low reading of the long-short ratio is often taken as a signal that the worst is over.'It's worth noting that historically (6 times since January 2022), whenever the FII longshort ratio drops below the 15% mark, markets often witness a limited downside, as excessive pessimism tends to set the stage for short-covering rallies or a reversal in sentiment,' said will be important for the Nifty to stay above 24,800 for the sentiment to turn positive. 'Nifty's decisive close below 24,800 spot levels will be a negative development that might take it down towards 24,000 spot levels in near term, said Kumar. 'Although that will provide a fresh entry point for swing traders and value buyers,' he said.
Hindustan Times
5 days ago
- General
- Hindustan Times
2025 Swachh rankings: New Delhi among India's best, but rest of city suffers
While the New Delhi Municipal Council (NDMC) region – covering Lutyens' Delhi – has once again been judged among the cleanest urban areas in the country for its population category (50,000 to 300,000), the rest of the national capital has fared far worse in the ninth edition of the Swachh Survekshan (2024-25). Delhi's 1,483 sq km area is divided among three ULBs: MCD, which governs 1,397 sq. km; NDMC, covering the Lutyens' zone; and DCB, which handles the cantonment area. (Vipin Kumar/HT Photo) The Municipal Corporation of Delhi (MCD), which governs the majority of the city's area and population, ranked 31st out of 44 urban local bodies (ULBs) in the million-plus population category. Meanwhile, the Delhi Cantonment Board (DCB) slipped to 30th place out of 58 cantonment boards – a sharp decline from its 7th position last year. This year's survey saw participation from 4,589 ULBs across India, making it the largest cleanliness audit to date. The survey evaluated cities on a new scale of 12,500 points (up from 9,500 in previous editions of the survey) across key metrics such as visible cleanliness, waste segregation, sanitation, wastewater management, and welfare of sanitation workers. Delhi's 1,483 sq km area is divided among three ULBs: MCD, which governs 1,397 sq. km; NDMC, covering the Lutyens' zone; and DCB, which handles the cantonment area. While NDMC (along with Noida) earned its place in the 'Super Swachh League' with high scores across all indicators, MCD scored only 7,920 out of 12,500 points. Cities like Meerut, Aligarh, Patna, and Agra fared better, while only Srinagar and Bengaluru performed worse in the same category. Experts said that the findings of the 2024-25 cleanliness survey paint a stark picture of a city divided. While NDMC's limited geography, affluent population, and rigorous civic governance help it stand out, the rest of Delhi continues to grapple with chronic issues—unplanned urbanisation, weak policy enforcement, and lack of civic participation. Behind Delhi's rankings Landfill clean up: MCD's poor ranking is partly due to its underwhelming performance in this category. It scored just 56% in dumpsite remediation. The biomining and bioremediation projects at the three major landfill sites – Okhla, Bhalswa, and Ghazipur – have missed several deadlines since their inception in 2019, despite being mandated by the National Green Tribunal. New extended deadlines range between July 2026 and December 2027. MCD also scored poorly in segregation (56%) and waste processing (51%). Though source segregation is legally mandated, its on-ground implementation remains minimal. Of the 11,328 tonnes of waste generated daily in Delhi, MCD areas account for over 11,000 tonnes, yet a large portion remains unsegregated and ends up in already saturated landfills. Water body cleanliness: Delhi's performance in the cleanliness of water bodies was dismal, with the MCD securing only 27% marks. This indicates a significant lapse in maintaining or restoring the city's numerous natural and artificial water bodies. Market cleanliness: MCD scored relatively better in door-to-door waste collection and cleanliness in market areas—indicating some success in daily maintenance tasks, though large-scale infrastructure and systemic reforms are still lacking. Fall in cantonment rank: The Delhi Cantonment Board (DCB), which managed to secure the 7th spot among 62 boards last year, has now fallen to 30th. DCB fared poorly in crucial areas like door-to-door collection, waste segregation, and processing. Why NDMC excels Officials said that NDMC's consistent high ranking reflected a combination of factors: a smaller, more manageable jurisdiction; higher budget allocation per capita; and a proactive administrative approach. The Lutyens' zone also benefits from a well-planned layout, better infrastructure, and limited population pressure compared to MCD areas. Keshav Chandra, Chairman of NDMC, attributed the success to the 'relentless hard work' of the civic body's employees, particularly sanitation workers. Vice Chairman Kuljeet Singh Chahal highlighted the role of public cooperation: 'The collaborative spirit of the community has been pivotal in achieving this honour.' Independent experts agreed. Atin Biswas, programme director of the municipal solid waste sector at the Centre for Science and Environment (CSE), said That NDMC has completely different conditions with very rich local body, high infrastructure and human resources compared to the rest of the city. 'NDMC has no landfills, as it sends all its waste to municipal corporation areas. Its situation is not comparable to the rest of the city,' he said. While MCD officials are yet to issue a formal statement, civic activists and residents' groups have criticised both the administration and the public for the city's poor performance. Atul Goyal, president of URJA (United RWAs Joint Action), said, 'There is a collective failure of both agencies and citizens to own the city. Door-to-door collection and waste segregation are more on paper than in practice. Policies have not been effectively implemented at the ground level.' Goyal also criticised the shift toward large-scale incineration projects rather than decentralized waste management solutions. 'Delhi has practically given up on segregation. The focus has shifted to burning waste instead of processing it responsibly. What we need is a decentralised model that processes waste at the ward level – this alone can reduce transport costs, pollution, and landfill dependency.' Bharati Chaturvedi, environmentalist and founder of Chintan Environmental Research and Action Group said that MCD has done badly and it must re-look its contracting system. 'The failure of the contracting system is that the private contractors have incentive to take more waste to landfills. It should be the other way round. The incentive should be to take inert waste. Recyclable waste and wet waste being taken to landfill sites should be disincentivised,' she said.
Hindustan Times
15-07-2025
- Business
- Hindustan Times
Delhi cabinet may approve amnesty scheme for ₹85,000 crore unpaid VAT taxes
The Delhi Cabinet is likely to soon approve a long-awaited tax amnesty scheme aimed at resolving nearly ₹85,000 crore in outstanding dues – primarily under the pre-GST Value Added Tax (VAT) regime – from before 2017, officials aware of the matter said on Monday. The scheme, currently under high-level discussion, will offer significant waivers on penalties and interest, encouraging over 300,000 traders across sectors operating in the Delhi to settle long-pending tax liabilities. (Vipin Kumar/HT Photo) The scheme, currently under high-level discussion, will offer significant waivers on penalties and interest, encouraging over 300,000 traders across sectors operating in the Delhi to settle long-pending tax liabilities. A senior official in the Delhi government's finance department said the Trade and Taxes Department has submitted a detailed proposal outlining a framework for full or partial waivers on penalties, interest, or both. 'More than 300,000 traders together owe about ₹85,000 crore. Through the amnesty scheme, the government aims to recover at least 50% of this amount. It will both boost tax revenue and ease the legal burden on the administration,' the official said. Tax amnesty schemes are periodically rolled out by state governments to allow taxpayers to pay principal dues while availing relief on additional charges such as interest and penalties. Such schemes are notified under laws like the Delhi VAT Act and must receive Cabinet approval. A second official confirmed that the amnesty framework — which defines eligibility, waiver slabs, deadlines, and conditions — is in its 'final stages', and will soon be presented to the Cabinet. However, officials were unable to provide a clear timeline on when the proposal would be tabled before the Cabinet. The scheme is expected to offer waivers of up to 50% on total dues, with traders required to pay the remainder to settle their liabilities. Most of the pending dues date back to before the implementation of Goods and Service Tax, or GST, in July 2017 and are tied up in prolonged litigation, draining departmental resources. 'The amnesty scheme will provide a fast-track resolution mechanism, and will help free up the department's time and energy to focus on current tax collections,' the official cited above said. The proposal gained momentum after Delhi chief minister Rekha Gupta, while addressing traders at a Confederation of All India Traders (CAIT) event in May 2025, announced plans for a one-time tax amnesty as part of her government's broader effort to revitalise the city's business climate. GST advocate Sushil Verma noted that such a scheme, implemented under the Delhi VAT Act, would bring welcome relief to thousands of traders. 'Thousands of old VAT cases are languishing in courts. Once the amnesty scheme is launched, traders can withdraw these cases and benefit from the relief offered. Similar schemes in other states have successfully increased revenue and reduced legal backlogs,' he said. The amnesty initiative is part of Delhi's broader fiscal strategy to meet its ambitious ₹1 lakh crore budget target for FY 2025–26. Of this, ₹68,700 crore is expected from tax revenues—a 16% jump from the previous year. The rest will be raised through non-tax revenues, central grants, and loans.
Hindustan Times
14-07-2025
- Health
- Hindustan Times
Skin awareness camps held across India in world records attempt
The Indian Association of Dermatologists, Venereologists and Leprologists (IADVL) organised skin health awareness camps at multiple locations across the country, including 28 camps in Delhi, on Sunday as part of an International Book of Records attempt for the largest number of free Skin Health Camps and Public Awareness Programmes conducted on a single day. The health camp at a school in Jangpura, New Delhi on Sunday. (Vipin Kumar/HT Photo) The camps were part of IADVL's campaign themed 'No Health Without Skin Health,' which aimed to raise awareness about the importance of skin health in achieving overall physical, mental, and social well-being, according to the president of the association, Dr Deepika Pandhi. At the Sarvodaya Kanya Vidyalaya in Pushp Vihar, where one of the Delhi camps was held, children accompanied by their guardians began arriving as early as 10am to seek free consultations and advice. Manish Kumar, 36, who brought his daughter to the camp, said, 'My 14-year-old daughter has been struggling with acne issues for a while that often affect her confidence. I had tried over-the-counter skin creams. Today at the camp, after the consultation, I found out how her diet could also have a huge role, and now we are going to work on that.' Another parent, Sona Mukherjee, 38, said, 'My daughter informed me that their school was going to have a skin health camp, and I thought maybe I should come to get myself checked, and I'm glad I did. I was having skin rashes for a long time but was just avoiding going to a doctor. Now, from the camp, I've been asked to get a few tests done and have been prescribed some medication.' Visitors said the camp helped them challenge misconceptions. 'I used to think that vitiligo can spread by touching, but after today's camp, that myth has been debunked for me,' Sona added. Speaking at the Pushp Vihar camp, Dr Pandhi said that a lot of their patients were young people. 'The aim was to educate them that topical steroid creams are prescription medicines not cosmetic or fairness products and their misuse can cause serious side effects. These include skin thinning, stretch marks, acne, pigment changes, delayed wound healing, and worsening of fungal infections like ringworm, which has reached epidemic proportions largely due to steroid misuse.' She also stressed that the foundation of healthy skin lies in balanced nutrition, regular exercise, and proper skincare, and urged the public to avoid self-medication and unregulated cosmetic practices. The camps across Delhi were held at schools, old-age homes, medical colleges, schools for the visually impaired, and orphanages. More than 35 dermatologists from IADVL Delhi State Branch participated, offering free consultations, the association said. The campaign also sought to highlight that HIV/AIDS is a manageable chronic illness. With adherence to antiretroviral therapy, nutritious diets, and medical supervision, people with HIV can lead long, healthy, and productive lives. 'AIDS is not a death sentence; it is a chronic manageable disease,' Dr Pandhi added.
Economic Times
14-07-2025
- Business
- Economic Times
F&O trade volumes slump nearly 20% after Sebi ban on Jane Street
Agencies Live Events (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel Mumbai: Volumes on India's thriving futures and options dropped nearly a fifth last week after Securities and Exchange Board of India's (Sebi) ban on New-York-based quantitative trading firm Jane Street for alleged market manipulation . The recovery to the recent peak in trading activity may not happen immediately, which may squeeze exchanges' earnings. The daily average turnover in index options trade on the NSE, which commands the majority in derivatives trading volumes in India, declined by nearly 17.4% last week from previous week."The recent dip in options turnover is likely due to the exit of a large market-making participant, which has impacted market liquidity and efficiency," said Vaibhav Sanghavi, CEO, ASK Hedge interim, ex-parte order probed into alleged index manipulation by Jane Street involving bank shares and Bank Nifty index futures and options, while banning it from trading in Indian market. The regulator's investigations showed the trading firm was engaged in manipulative trades on expiry days of Bank Nifty derivatives that pushed outcome in its favour. The absence of Jane Street in market has had a ripple effect with other large firms cutting the size of their the weekly options expiry day of Thursday-the most active trading day-turnover was down over 21% to about ₹472.5 lakh crore from ₹601.2 lakh crore a week ago, as per data from ETIG. Vipin Kumar, assistant vice-president of derivatives and technical research at Globe Capital Market, said during the entire expiry week (July 4 to July 10), index futures volumes were down by nearly 24% while index options volume was down by 16.5%, when compared with the entire previous expiry week (June 27 to July 3). Shares of BSE listed on the NSE, and NSE traded in unlisted market, declined in face of drop in volumes. Since Sebi put out order on July 3, NSE shares have dropped 6% to ₹2,150 as on July 13, as per data from BSE stock is down 16%. "It's too early to determine if this loss of turnover is permanent, but it will certainly impact revenues at the exchange-level if prolonged," said said volumes may have also declined as a result of lower volatility due to choppy trading since the start of July. 'The index was trading in a tight range of less than a percent and volumes are usually low during this kind of market move,' he said.'On July 11, Nifty breached that range on the downside and we recorded a sharp uptick in the volumes of index futures, stocks futures and stocks options that were up by 17%, 18% and 28%, respectively compared with the same day the previous week.'Sanghavi said that while this may reduce turnover in the short term, it also creates a more level playing field, limiting the advantage of high-frequency or algorithmic traders who typically account for 40-45% of options volume. Rajesh Palviya, head of technical and derivatives research at Axis Securities, said liquidity could improve once mutual funds launch SIFs, which could build derivative books of Rs 30,000- Rs 40,000 crore over time
