Latest news with #lifting
Time of India
5 hours ago
- Business
- Time of India
D-St lures FIIS back with big ticket block trades
Foreign investors are starting to head back into Indian stocks after a major exodus, attracted by $5.5 billion worth of big ticket block trades in May and lifting hopes of a revival in the nation's equities market. The block trades were well bought by overseas investors, according to bankers. They marked the highest monthly total in almost a year and a huge jump from only $220 million in April. "We actually saw interest coming in from a fairly diverse set of investors who were missing in action in the last six months," said Abhinav Bharti, head of JPMorgan's India equity capital market business. "They had gone out of India, said India is just too expensive, we don't want to buy anything right now. I think we could start seeing them coming back." Block trades often precede a recovery in IPOs and May's robust offerings come amid a strong performance for Indian stocks. Live Events The Nifty 50 index has climbed risen 6% since early April when U.S. President Donald Trump announced his sweeping tariffs which were then paused for 90 days, with India emerging as an investor safe haven due to better-than-feared duties. Foreigners have since bought about $3 billion worth of Indian stocks in April and May combined, data shows. That comes after they pulled nearly $29 billion out of Indian stocks between October and March which followed record highs for the country's benchmark indices in September. Gary Tan, a portfolio manager at Allspring Global Investments in Singapore, said the recent inflows into India reflect a resurgence of interest in emerging market equities. "We've selectively added to India on pullbacks but remain underweight," said Tan, citing high valuation in some sectors. Banking, telecommunications and diversified conglomerates were his most favoured sectors, he added. The $5.5 billion in block trades in May, according to LSEG data, included the sale of a British American Tobacco $1.51 billion stake in ITC, according to a term sheet seen by Reuters showed. IndiGo co-founder Rakesh Gangwal also offloaded a 5.7% stake in the low-cost carrier through a block deal worth about $1.36 billion, while Singtel sold $1.5 billion of Bharti Airtel shares . Both the ITC and IndiGo trades were increased in size after strong demand from investors, bankers said. It was the busiest May on record for block trades in the country, the data showed. "We're seeing high-quality global long-only accounts coming in with conviction," said Sunil Khaitan, a managing director at Goldman Sachs in India. "Some are still waiting for levels to normalize, but 90% to 95% of the foreign liquidity coming back into the market is from deeply embedded India investors, those who understand the market and have been waiting for the right window to reengage." Citigroup's head of India ECM Arvind Vashistha said the country's better economic performance, tax cuts and interest rate reductions had helped sentiment towards India's equity markets improve. "The economy is in good shape, valuations have become more reasonable, which is encouraging healthy market activity. Investors are telling us that these are the companies we find interesting and if there's a supplier, we'd love to buy it," he said.
The South African
3 days ago
- Sport
- The South African
Kaizer Chiefs transfer news: Nabi and Maliwa spotted in Tanzania
Kaizer Chiefs transfer news continues to heat up as head coach Nasreddine Nabi and Head of Scouting and Recruitment Thembela 'Tera' Maliwa were spotted in Tanzania on Wednesday, sparking talk of imminent reinforcements. The duo attended a Premier League clash between Simba SC and Singida Black Stars at the KMC Complex in Dar es Salaam, an appearance that has intensified rumours of a potential move for Simba SC's forward, Denis Kibu. The 26-year-old attacker has reportedly been on Kaizer Chiefs' radar for some time. Though Kibu didn't start in Simba's narrow 1-0 victory—sealed by Steven Mukwala's first-half strike, a source said the Chiefs' technical team used the trip to evaluate him and other possible targets in a live match environment. 'Chiefs coach Nabi and the club's chief scout Tera were recently in Tanzania and part of their visit included watching the match between Simba SC and Singida Black Stars. One of the players that Chiefs have been following is Denis (Kibu), and they hoped to see him in action. There's a possibility he could be brought in next season,' a source revealed. 'There might have been other players the Chiefs technical duo were there to watch closely.' Kibu's performances in continental competition make him a compelling prospect. The Simba SC frontman featured in 12 games during the 2024/2025 CAF Confederation Cup, scoring four times. Coached by South African tactician Fadlu Davids, Kibu played a key role in helping Simba SC reach the final, where they narrowly lost to Moroccan outfit RS Berkane. Despite falling just short of lifting the trophy, Kibu's exploits on the African stage did not go unnoticed, particularly by a Kaizer Chiefs side keen on restoring its dominance. Kaizer Chiefs are not simply scouting, they're sending a message. With Nabi steering the technical direction and Maliwa actively identifying new talent, the club is clearly building with purpose. This scouting mission is more than routine, it's a clear sign that changes are on the horizon. Are you happy with this Kaizer Chiefs transfer news and scouting Kibu? Let us know by leaving a comment below or send a WhatsApp to 060 011 021 1. Subscribe to The South African website's newsletters and follow us on WhatsApp, Facebook, X, and Bluesky for the latest news.
Scoop
3 days ago
- Business
- Scoop
ERANZ Welcomes Government Move To Update NPS On Renewable Energy
Press Release – ERANZ A more directive National Policy Statement on renewable energy should, together with greater certainty on industry regulations, boost the impetus to build the generation we need. The Electricity Retailers' Association of New Zealand (ERANZ) welcomes the government's announced plans to update its National Policy Statement on renewable electricity as part of a suite of proposed updates to the Resource Management Act. ERANZ agrees with Minister for Infrastructure Chris Bishop that: 'Decision-makers need clear guidance that renewable energy is vital to our prosperity. We need billions of dollars of investment in the coming years in renewable energy supply but it's too hard to consent renewable energy projects.' ERANZ Chief Executive Bridget Abernethy says, 'Our members are committed to investing the billions of dollars needed to scale up electricity supply to meet current and future demand but are still facing barriers to consenting. Even when consents are granted the process is lengthy and expensive hampering the effort to deliver the electricity we need.' 'Our members are doing the heavy lifting, expecting to invest more than six billion in renewable energy projects over the next five years.' But Abernethy says that is all dependent on timely and successful resource consent approvals. 'We very much welcome the Minister's view that, 'Decision makers need clear guidance that renewable energy is vital to our prosperity.' 'ERANZ also agrees the electricity sector is facing volatility as it transitions away from fossil fuels and faces supplies of gas running out far faster than predicted. A more directive National Policy Statement on renewable energy should, together with greater certainty on industry regulations, boost the impetus to build the generation we need.' She says removing impediments to building for an electrified prosperous future for New Zealand shows laudable pragmatism and ERANZ looks forward to making a submission on this plan.
Powys County Times
4 days ago
- Sport
- Powys County Times
Forden United end season on a high as Clewlow inspires win
FORDEN United brought the curtain down on their best ever season by lifting the MMP Central Wales League Cup on Saturday. The village club hit back to force penalties against Ffostrasol Wanderers before goalkeeper Adam Clewlow emerged the hero with three saves in the shoot out in Machynlleth. The silverware makes up for Forden United missing out on the northern league title having lost 1-0 to Llanrhaeadr in the title decider the previous week. The season could yet end with even more silverware for the club with its reserve side currently joint-top of the JT Hughes Montgomeryshire League and ended their campaign with a 3-0 win at home to Llangedwyn on Wednesday courtesy of a Matthew Hudson double and Mike Henderson-Smith strike. Title rivals Kerry Reserves conclude their own campaign with a short trip to Abermule Reserves on Friday aiming to snatch the silverware for themselves. The final match of the season in the Montgomeryshire League takes place when Trefonen host Llangedwyn on Saturday.
eNCA
4 days ago
- Sport
- eNCA
Magesi hold Pirates to a draw
JOHANNESBURG - Veteran Zimbabweans Elvis Chipezeze and Edmore Chirambadare had roles in the goals as Orlando Pirates and Magesi ended their South African Premiership seasons with a 1-1 draw on Wednesday. Stand-out performances from goalkeeper Chipezeze in the richest African national league have earned him a recall to the national squad at the age of 35 for June friendlies in Morocco. But he conceded a soft goal after only seven minutes at a chilly Orlando Stadium in Soweto, allowing a Patrick Maswanganyi shot from the D to bounce over him into the net. It gave second-placed Pirates a lead they retained until the 32th minute when 33-year-old Chirambadare raced into the area and fired across goalkeeper Sipho Chaine into the far corner. Chipezeze redeemed himself midway through the second half when he parried a close-range shot from Mohau Nkota to safety. Pirates, who had to settle for a third consecutive runners-up place behind Mamelodi Sundowns in the Premiership, dominated possession in both halves. But bottom-half Magesi became increasingly competitive as the match progressed and deserved the unexpected point. A season that promised so much for Pirates ended with them lifting only one trophy of the five they sought -- a knockout competition among the top eight finishers in the previous league. The biggest disappointment came in the CAF Champions League semi-finals where they twice squandered an aggregate lead in the second leg before losing to Egyptian club Pyramids. A change of coaches with former Derry City forward Owen da Gama, 63, taking over revitalised Magesi, who were odds-on favourites to be relegated halfway through the season. The club from northern city Polokwane finished with 31 points, five more than bottom club SuperSport United, who host Golden Arrows on Thursday in the final match of the season.
