Latest news with #Hajra
Mint
16 minutes ago
- Business
- Mint
Rupee slide, steep valuations drive FPIs to pull ₹32,311 crore from Indian stocks
A weakening rupee and high stock valuations, compared to other emerging markets have prompted foreign portfolio investors (FPIs) to pull out over ₹32,000 crore from Indian equities in July — a sharp reversal from their buying trend last month. The rupee dropped 1.6% over the past month — from 85.49 on 27 June to 86.82 against the US dollar on Tuesday — its lowest level in five months. Due to the rupee's fall, the BSE Dollex 30 (the dollar-linked version of Sensex) fell 4.8% from 8071.26 to 7686.39 in a month. In contrast, the Sensex itself fell only 3.2%, from 84,059 to 81,338, showing how currency losses magnified the hit for overseas investors. Also read: FPIs struggle to shake off fears, bearish bets hit 4-month high This erosion in dollar returns has led FPIs to offload shares worth ₹32,311 crore from the cash market this month, according to data from NSDL and BSE. That's a sharp contrast from June, when FPIs bought equities worth ₹8,467 crore as the rupee remained relatively stable, averaging 85.93 per dollar. Currency experts believe the rupee's weakness could persist, given the unit's historical tendency to depreciate by 3–4% annually. Ongoing global tariff concerns and a stronger dollar are adding pressure. So far this year, the rupee has depreciated 1.36% through 29 July, suggesting room for a further 2–3% fall. Valuation gap Another reason for the selloff is India's rich market valuation. The Sensex trades at a price-to-earnings (P/E) multiple of 22.63x, compared with South Korea's Kospi at 14.10x and Hong Kong's Hang Seng at 11.81x. These valuation gaps are especially glaring given that the Kospi ended at a four-year high of 3,230.57 and the Hang Seng flirted with a similar high at 25,524.45 on Tuesday, even as Indian markets have been correcting since late June. Also read: FPI jitters: Are foreign investors losing confidence in Indian markets? 'Indian exports can be affected in the short term if a deal with the US isn't signed before the 1 August deadline, which adds to the negative sentiment on the rupee amid a period of general dollar strength," said Sujan Hajra, executive director and chief economist at Anand Rathi Financial Services. Hajra added that while low oil prices and growing services exports support the rupee on the current account side, there are headwinds on the capital account. These include FPI outflows, foreign direct investment (FDI) repatriation, and a slowdown in external commercial borrowings due to higher global interest rates. Anindya Banerjee, head of research (currency, commodities, and interest rates) at Kotak Securities, said that the rupee could trade in an 86–87.5 range to the dollar next month, with a bias to the downside especially if a trade deal with the US is not signed. The dollar index, which tracks the greenback against a basket of six currencies including the euro, pound, yen, and Swiss franc, has risen 1.9% since 23 July, hitting an intraday level of 99.08 on Tuesday due to the ongoing tariff tensions. Also read: Sensex crashes over 2,100 points in 4 days; what is driving the Indian stock market down?
NDTV
11-07-2025
- Politics
- NDTV
What Is Operation Baam, Massive Baloch Separatist Attack In Pakistan
New Delhi: At least five people, including women and children, were injured in a grenade attack in Turbat, Balochistan, on Wednesday. Violence escalated across the province following the launch of Operation Baam by the banned separatist group Balochistan Liberation Front (BLF). According to police and local media reports, unidentified assailants on motorcycles hurled a hand grenade at the residence of Muhammad Younis in the Absar area of Turbat, part of the Kech district in southern Balochistan. The explosion occurred in the backyard of the house, injuring residents Hajra, Mahlab, Fatima, Naz Gul, and Muhammad Ibrahim, all of whom were rushed to the District Hospital Turbat for treatment, as per Pakistani outlet Dawn. The same day, a police check post in Sibi was also targeted in a similar grenade attack, though no injuries were reported. These incidents followed a sweeping series of coordinated attacks launched late Tuesday night across Balochistan under what the BLF calls "Operation Baam", meaning "dawn". At least 17 separate attacks were reported in the districts of Panjgur, Surab, Kech, and Kharan, marking one of the most significant insurgent operations in the province in recent years. According to the BLF, Operation Baam represents a strategically synchronised offensive targeting military installations, police outposts, communication infrastructure, and administrative facilities. In a statement released to the media, BLF spokesperson Major Gwahram Baloch claimed responsibility for the campaign and said, "The resistance has entered a new phase. Operation Baam is designed to demonstrate that Baloch fighters are capable of launching large-scale, synchronised operations across vast geography," as per news agency ANI. He added that the campaign was intended to inflict both "human and material losses" on Pakistani security forces, though exact details of casualties and damage remain unclear. Local sources and media reports indicate that the attacks severely disrupted telecommunication networks, particularly in Kech and Panjgur, where partial blackouts were reported. Security forces have launched search and clearance operations in the affected regions, but as of Thursday morning, there was no statement from the federal government on the scale of the damage or number of casualties. While the Pakistani military has yet to issue an official response, security personnel were observed increasing patrols and checkpoints in key areas of Balochistan. The BLF is one of several Baloch separatist groups fighting against the government for more than 20 years. They want more control over Balochistan's natural resources and greater political freedom. The province is rich in minerals but remains poor and underdeveloped. People in the region have long complained about being treated unfairly, missing persons, and a lack of economic opportunities.
Hindustan Times
10-07-2025
- Hindustan Times
Five injured in grenade attack in Balochistan day after BLF launches 'Operation Baam'
Five people, including women and children, were injured on Wednesday after a grenade attack happened on a house in Turbat in Pakistan's Balochistan, Pakistani news portal The Dawn reported. A general view shows damaged vehicles at the site a day after a bomb blast in Qila Abdullah, in Balochistan province, on May 19, 2025. (AFP/File) This comes a day after a series of coordinated attacks and explosions rocked multiple government installations across Balochistan late Tuesday night, with the Balochistan Liberation Front (BLF) claiming responsibility and announced the launch of "Operation Baam (Dawn)." Citing authorities, The Dawn also reported that in a separate grenade attack on Wednesday, a police check post was also attacked in Sibi. Police said a hand grenade was thrown by unidentified attackers on motorcycles at the residence of Muhammad Younis in the Absar area of Turbat, the divisional headquarters of Makran division in Kech district. The grenade explosion took place in the backyard, injuring five people and damaging parts of the house. Dawn reported that police rushed to the site and moved the injured persons to the District Hospital Turbat, wherein they were identified as Hajra, Mahlab, Fatima, Naz Gul, and Muhammad Ibrahim. In another incident, unknown assailants hurled a grenade at a police checkpoint at the Sibi-Harnai railway crossing gate, Dawn reported. Although the grenade exploded at the post, no injuries were reported and the attackers fled the scene on a motorcycle. Referring to the police, Dawn reported that the incidents were being investigated and that no group has claimed responsibility for either of the attacks. Series of explosions rock Balochistan On Tuesday, a series of coordinated attacks and explosions rocked multiple government installations across Balochistan late in the night. The BLF claimed responsibility, announcing the launch of "Operation Baam (Dawn)." While Pakistani authorities have yet to confirm the full extent of the damage, ANI news agency cited local sources reporting significant disruption in the affected areas. Explosions reportedly targeted military checkpoints, communications infrastructure, and administrative facilities. Security forces reportedly launched search operations in the targeted districts, and communication in parts of Kech and Panjgur remained disrupted till Wednesday morning at least. Operation Baam signals a rising insurgent capability in Pakistan's volatile south-western province, highlighting the deteriorating security situation in Balochistan, a region long marked by unrest and instability. For decades, Balochistan has been at the centre of persistent human rights concerns, caught in repeated cycles of separatist violence and military crackdowns.
India Gazette
06-06-2025
- Business
- India Gazette
Economists hail RBI's 50 bps rate cut and CRR cut to give a strong push to growth
New Delhi [India], June 6 (ANI): Economists across the board have welcomed the Reserve Bank of India's (RBI) latest policy decision, terming the 50 basis points (bps) repo rate cut as a pro-growth move that is expected to significantly boost liquidity and economic activity in the country. On Friday, RBI Governor Sanjay Malhotra announced the decision of the Monetary Policy Committee (MPC), stating that the policy repo rate has been reduced from 6 per cent to 5.5 per cent. This larger-than-expected cut in the repo rate was accompanied by a 100 bps cut in the Cash Reserve Ratio (CRR), now reduced to 3 per cent, aimed at enhancing liquidity by Rs 2.5 lakh crore. Reacting to the development, Sonal Badhan, Economics Specialist at Bank of Baroda, told ANI that the policy is strongly pro-growth. 'RBI has announced a very pro-growth policy by announcing a 50bps repo rate cut. This along with 100 bps cut in CRR will provide significant boost to liquidity and lead to faster transmission of rate cuts,' she said. However, Badhan also noted a cautious tone in RBI's outlook. 'As the stance has been changed to neutral and the policy signals that there remains limited room for monetary policy to support growth, we expect status quo by RBI in the next 2-3 meetings. The decision will be data dependent. More rate cuts will be expected if there is significant downside seen to growth,' she added. Debopam Chaudhuri, Chief Economist at Piramal Group, said the RBI's move was in line with their expectations. 'While we were among the few institutions anticipating a 50 bps rate cut, it is highly encouraging to see MPC members aligning with this view, united by the objective of revitalizing India's domestic economic growth,' he told ANI. Chaudhuri pointed out that the February rate cut had limited impact due to tight liquidity. 'The additional 25 bps cut now helps offset that earlier lag in impact,' he said, adding that another 50 bps cut may follow in FY26, possibly bringing the terminal repo rate down to 5 per cent. He also expects a moderation in the RBI's liquidity operations via Variable Rate Repos (VRRs) and Open Market Operations (OMOs) as the CRR cut ensures sufficient liquidity. Sujan Hajra, Chief Economist and Executive Director at Anand Rathi, said the rate and CRR cuts exceeded both market and institutional expectations. 'This frontloading of monetary easing reflects a clear intent to support growth while inflation remains benign,' Hajra said. However, Hajra cautioned about the shift in policy stance. 'Although this change from 'accommodative' to 'neutral' might be read as a signal that the rate cut cycle is nearing its end, we believe it is aimed at tempering any potential 'irrational exuberance' in the financial markets,' he added. With inflation currently under control, the RBI's bold policy shift has boosted market confidence and underlined its commitment to supporting economic growth while maintaining macroeconomic stability. (ANI)
Time of India
30-04-2025
- Politics
- Time of India
‘No time to pack, leaving in slippers': Bride, new mom face deportation
Attari: Pakistani national Hajra arrived in India just a few days ago on a visitor visa, hoping to begin a new life after marrying Aamir, a resident of Srinagar. However, her plans took an unexpected turn when she was directed to leave the country in the wake of the Pahalgam attack that claimed 26 innocent lives A heartbroken Aamir said that his wife arrived in India just 10 to 15 days ago. "We got married two days ago, and the very next day, police came to our home and asked her to leave the country," he said. "One day, I brought my wife home with joy, and the next, she was told to leave — it all happened so suddenly." Aamir described the emotional toll on his family, saying, "There was so much happiness and celebration in the house, but now everyone is in mourning. My mother still believes her son will return with his dulhan (bride)." He added that not only his wife, but also members of his cousin Nadeem Qureshi's family, were asked to leave the country under the same directive. Anjum Tanveer, a distraught father of a two-year-old girl, Ayeza Anjum, married for four years to Attiya Aslam from Gujranwala, Pakistan, shared his anguish after being directed to deport her. "She was summoned for verification on April 28, and we were told her visa stands revoked," said Anjum, breaking down as he described the impact on their daughter. "Punish the terrorists, yes, but why must innocent families suffer?" Sara Khan, a mother of two including a 14-day-old infant, was also among those directed to return to Pakistan. A resident of Pakistan-occupied Kashmir, she had been living in India on a valid Long-Term Visa (LTV) until July 2026 after marrying Aurangzeb Khan in 2017. "I had a C-section recently; my stitches haven't healed. Doctors advised me not to travel," she said in tears at the Attari border. "I wasn't even given time to pack — I'm leaving in washroom slippers." Sara pleaded with authorities to allow her to stay, citing her newborn's citizenship and her deteriorating health. "Please let me stay with my family," she appealed. MSID:: 120770111 413 |
