Latest news with #Vijayakumar
India Gazette
14 hours ago
- Business
- India Gazette
FPIs on course to become net buyers in India for third month
New Delhi [India], June 29 (ANI): Foreign portfolio investors (FPIs) are on course to become net buyers in Indian stock markets for the third straight month in June. In January, February, and March, they have been net sellers all through. Since April, they turned net buyers in Indian equities. Latest data made available by National Securities Depository Limited (NSDL) showed that FPIs had bought stocks worth Rs 8,915 crore in June so far. In April and May, the FPIs had accumulated stocks worth Rs 4,223 crore and Rs 19,860 crore, respectively. FPIs had fueled the latest bull run in the stock market, after a sharp slump. As per definition, Foreign Portfolio Investment involves an investor buying foreign financial assets. 'Declining dollar is always a positive for emerging market equity; this encouraged FIIs to buy in India. FII buy figure for June, including buying through the exchange and primary market and others category, through 27th stood at Rs 8915 crores,' said VK Vijayakumar, Chief Investment Strategist, Geojit Investments Limited. 'FIIs were buyers in financials, capital goods and realty stocks and were sellers in FMCG, consumer durables and IT. FII buying has imparted strength to largecaps helping the Nifty and Sensex to scale new highs for 2025. FIIs continued selling in the bond market and this trend is likely to continue given the low yield differential between US and Indian bonds. Ample liquidity and investor optimism have the potential to sustain the rally. However, high valuations are a limiting factor. High valuations can attract profit booking,' Vijayakumar added. The benchmark Sensex is now about 2,000 points below its all-time high of 85,978 points. At one time, the Sensex had fallen about 13,000 points from its high. The FPI buying has supported the indices of late. Indian stock markets outperformed global markets over the past few weeks, as volatility continued to reign in global markets over possible forthcoming US reciprocal tariffs, as July 9 deadline nears. A comfortable inflation number in India also somewhat supported the domestic equity indices. In 2024, Sensex and Nifty accumulated a growth of about 9-10 per cent each. In 2023, Sensex and Nifty gained 16-17 per cent, on a cumulative basis. In 2022, they gained a mere 3 per cent each. (ANI)
India.com
16 hours ago
- Business
- India.com
FPIs On Course To Become Net Buyers In India For Third Month
New Delhi: Foreign Portfolio Investors (FPIs) are on course to become net buyers in Indian stock markets for the third straight month in June. In January, February, and March, they were net sellers throughout. Since April, however, they have turned net buyers in Indian equities. The latest data from the National Securities Depository Limited (NSDL) shows that FPIs have bought stocks worth ₹8,915 crore in June so far. In April and May, FPIs accumulated stocks worth ₹4,223 crore and ₹19,860 crore, respectively. FPIs have fueled the recent bull run in the stock market following a sharp slump. By definition, Foreign Portfolio Investment involves investors buying foreign financial assets. "A declining dollar is always positive for emerging market equities; this encouraged FIIs to invest in India. The FII buying figure for June, including purchases through the exchange, primary market, and other categories, stood at ₹8,915 crore through the 27th," said VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services. "FIIs were buyers in financials, capital goods, and realty stocks, while they were sellers in FMCG, consumer durables, and IT. FII buying has strengthened large-cap stocks, helping the Nifty and Sensex scale new highs for 2025. However, FIIs continued to sell in the bond market, and this trend is likely to continue due to the low yield differential between US and Indian bonds. Ample liquidity and investor optimism have the potential to sustain the rally, though high valuations remain a limiting factor and could trigger profit booking," Vijayakumar added. The benchmark Sensex is now about 2,000 points below its all-time high of 85,978 points. At one point, the Sensex had fallen nearly 13,000 points from its peak. Recent FPI buying has helped support the indices. Indian stock markets have outperformed global markets in recent weeks, even as volatility persisted globally due to concerns over potential upcoming US reciprocal tariffs as the July 9 deadline approaches. A favorable inflation figure in India has also provided some support to domestic equity indices. In 2024, both the Sensex and Nifty have posted gains of around 9–10%. In 2023, they rose by 16–17% cumulatively, while in 2022, the gains were a modest 3% each.
Mint
16 hours ago
- Business
- Mint
FPIs on course to become net buyers in India for third month
New Delhi [India], June 29 (ANI): Foreign portfolio investors (FPIs) are on course to become net buyers in Indian stock markets for the third straight month in June. In January, February, and March, they have been net sellers all through. Since April, they turned net buyers in Indian equities. Latest data made available by National Securities Depository Limited (NSDL) showed that FPIs had bought stocks worth ₹ 8,915 crore in June so far. In April and May, the FPIs had accumulated stocks worth ₹ 4,223 crore and ₹ 19,860 crore, respectively. FPIs had fueled the latest bull run in the stock market, after a sharp slump. As per definition, Foreign Portfolio Investment involves an investor buying foreign financial assets. "Declining dollar is always a positive for emerging market equity; this encouraged FIIs to buy in India. FII buy figure for June, including buying through the exchange and primary market and others category, through 27th stood at ₹ 8915 crores," said VK Vijayakumar, Chief Investment Strategist, Geojit Investments Limited. "FIIs were buyers in financials, capital goods and realty stocks and were sellers in FMCG, consumer durables and IT. FII buying has imparted strength to largecaps helping the Nifty and Sensex to scale new highs for 2025. FIIs continued selling in the bond market and this trend is likely to continue given the low yield differential between US and Indian bonds. Ample liquidity and investor optimism have the potential to sustain the rally. However, high valuations are a limiting factor. High valuations can attract profit booking," Vijayakumar added. The benchmark Sensex is now about 2,000 points below its all-time high of 85,978 points. At one time, the Sensex had fallen about 13,000 points from its high. The FPI buying has supported the indices of late. Indian stock markets outperformed global markets over the past few weeks, as volatility continued to reign in global markets over possible forthcoming US reciprocal tariffs, as July 9 deadline nears. A comfortable inflation number in India also somewhat supported the domestic equity indices. In 2024, Sensex and Nifty accumulated a growth of about 9-10 per cent each. In 2023, Sensex and Nifty gained 16-17 per cent, on a cumulative basis. In 2022, they gained a mere 3 per cent each. (ANI)
Time of India
5 days ago
- Business
- Time of India
Tech Mahindra CEO Mohit Joshi earns Rs 54 crore in FY25
Tech Mahindra (TechM) chief executive officer (CEO) and managing director (MD) Mohit Joshi's total compensation in the financial year 2024-25 stood at Rs 53.9 crore, the company said in its annual report. The pay package includes a salary of Rs 11.4 crore, Rs 30.8 crore of perquisite value of the employee stock ownership plan (ESOP), and a variable pay of Rs 11.7 crore, the report showed. Joshi's package was significantly higher than the CEO of India's largest IT company, Tata Consultancy Services ( TCS ), K Krithivasan's earnings at Rs 26.5 crore (up 4.6%). This compares with immediate larger rivals Wipro CEO Srinivas Pallia's annual earnings at Rs 53.6 crore (up 10%), Infosys ' Salil Parekh's pay at Rs 80.6 crore (up 22%), and HCLTech's C Vijayakumar getting paid Rs 84.16 crore, being the highest in the industry so far. Vijayakumar and Joshi are based in the US. Joshi's earnings were 840.22 times the median employee salary, which represents the average of all employee salaries in the company. According to the annual report, there was a 6.52% reduction in the median remuneration of employees in FY25. Discover the stories of your interest Blockchain 5 Stories Cyber-safety 7 Stories Fintech 9 Stories E-comm 9 Stories ML 8 Stories Edtech 6 Stories His exact year-on-year (YoY) salary jump could not be directly compared due to his partial tenure in the previous year. Joshi joined as MD designate of TechM, the country's fifth-largest IT services, on June 20, 2023, and took over as MD & CEO with effect from December 20, 2023, following the retirement of former chief CP Gurnani. Joshi's initial base salary was decided as Rs 6.5 crore, with an equal annual variable compensation. The TechM chief is also entitled to an annual stock option grant of $3.5 million (approximately Rs 29 crore), vesting over three years, taking the likely total compensation even higher. Besides, as part of his stock-based compensation, he gets a one-time stock option grant of $2.5 million, 60 percent of which will vest once he finishes a year with the company, and the remaining at the end of two years. He also gets an annual 'overperformance bonus' of up to 70 percent of his variable compensation. He is also entitled to a joining bonus of $848,951 (Rs 6.96 crore).
The Hindu
6 days ago
- Politics
- The Hindu
Forum urges revocation of Gandhigram Institute of Rural Health and Family Welfare Trust's ‘Reframed Service Rules 2024'
Professors and educationalists through a forum named 'Save Gandhigram Rural Health Committee,' urged the institution for revocation of 'Reframed Service Rules 2024,' which were learned to be violating the welfare of the employees of the institution. P. Vijayakumar, former general secretary, Madurai Kamaraj, Manonmaniam Sundaranar, Mother Teresa, and Alagappa University Teachers' Association, said that the Gandhigram Institute of Rural Health and Family Welfare Trust was 100% funded under the Union Ministry of Health and Family Welfare. He added that as per the direction of the ministry, the institution must follow the rules and regulation of the Government of Tamil Nadu. But, from April 2024, the institution implemented the 'reframed service rule 2024,' which were framed by the institution without following the direction of the ministry, Mr. Vijayakumar alleged. As the new norms violated the original rules and regulations, the actions of the institution to terminate six teaching and non-teaching staff against the original norms were worrying, he observed. 'Even when the Tamil Nadu government increased the superannuation to 60 years, the new rule of the institution has refixed as 59 years for employees,' Mr. Vijayakumar pointed out. 'Application of fundamental rules is not included in the 'Reframed Service Rule 2024'. Instead of crediting 30 days earned leaves per year, only 12 days will be credited as per the new rules,' he stated. Elaborating on the rules pertaining to earned leave, he said, 'As per the old rules, for permanent employees the maximum limit of 240 days earned leave will be accumulated, but in new rules the earned leaves cannot be carried forward beyond one subsequent calendar year. At the expiry of the subsequent calendar year, the accumulated leave of the preceding calendar year will automatically expire. Further, no encashment of earned leave is permissible at any time.' 'Though the G. O (Ms) No 84, Human Resources Management ( Department, dated 23.08.2021 mandates maternity leave for 365 days the newly framed rules permit only 180 days,' he noted. In addition to this, structural annual increments and promotions have been delayed and denied unjustly since reframing the rules, he alleged. Stating the move by the institution as unjust, he said that it would affect the quality of the institution, which has played a major role in promoting public health in rural areas of the State. To maintain the institution's quality, the employees demand immediate revocation of the newly framed rules, he said.
