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Hello everyone! Good day! 

Let us dive into some news from past week 

SEBI wants more disclosure from FPIs  

According to a recent directive by SEBI, FPIs have to comply with some additional disclosures. It includes comprehensive information on all entities exercising ownership, economic influence, or control – a crucial step to identify the true beneficiaries.  This sudden directive tool the market by surprise and is cited as the reason for the recent downfall experienced in Indian markets.  

The move from SEBI is expected to prevent companies from flouting the minimum public shareholding rules and prevent overseas entities from controlling Indian entities through shell companies. Apparently, SEBI wants to prevent instances where promoters hold more than 75% of shares by maintaining their shares with some FPIs. This increases the risk of price manipulation.  

Currently FPIs which has 50% of equity assets invested in an single Indian corporate group or have invested Rs 25000 in the Indian stock market need to comply. The guidelines for the FPIs was finalized in October 2023 itself. The FPIs who are in breach of the accepted investment limits as on Oct 31 2023, need to bring down their holding by Jan 29, 2024. In genuine cases, if FPIs are unable to bring down the limit by deadline, they need to make additional disclosures by March 11, 2024.  Though according to some sources, this deadline would be extended. 

Adani Holdings boosted amid the rebound 

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Major asset managers increased their holdings of Adani Group dollar bonds last year after a significant drop prompted by Hindenburg Research. BlackRock doubled its position to $125 million, State Street saw a surge of over 50%, Lombard Odier's holdings rose by 20% to nearly $140 million, and Neuberger Berman elevated about 42% to slightly over $40 million. This strategic shift coincided with the Adani Group's recovery efforts, including addressing debt concerns, refinancing loans, and securing $5 billion in equity investments after the Hindenburg Research-triggered sell-off. Despite Hindenburg's allegations of fraud causing a market decline, the Adani Group's subsequent actions to manage debt and restore investor trust have led to positive outcomes. 

Oil Dips, Could Fuel Pre-Election Price Cut in India 

Amid Brent Crude's drop below $80 per barrel, India's Modi government may consider a fuel price reduction before upcoming general elections. The ruling Bharatiya Janata Party, aiming for a third consecutive term, could utilize the recent drop in oil prices to address cost-of-living concerns, benefiting from higher margins of state-run oil marketing companies. To curb escalating prices, the Modi administration has imposed export restrictions and limits on stockpiling for various products. 

The decline in oil prices is attributed to disruptions in global trade, such as recent attacks by the US, UK, and other nations targeting the Houthis, along with US strikes in Iraq following an attack on an Iraqi air base, contributed to the decrease in oil prices. Additionally, farmers in France protested by blocking roads, urging the government to address concerns about cheap imports and rising expenses. Furthermore, Germany's Ifo Institute adjusted its economic growth forecast for 2024 due to uncertainty stemming from changes in the federal budget. These factors collectively led to the drop in crude oil prices. 

More news from the week ...

  • $10 billion worth Sony-Zee merger called off: Sony issued a termination letter to officially exit from the merger and the deal was called off on Jan 22. The major reason of exit was a lack of consensus as to who will head the merged entity.  

  • An Indian study finds single dose HPV vaccine can prevent cervical cancer: Cervical cancer is among the second most common cancer among Indian women. The study was conducted at hospitals across India on 2135 women in the age group of 10-18 years over a period of 10 years.  HPV (human papillomavirus vaccination) administered to adolescent girls in the age of 10-14 years can help prevent cervical cancer.  

  • Shipping rates rise as Red Sea attacks continue: Iran-backed Houthi rebels continue the attacks on commercial vessels in Red Sea in solidarity to Hamas. This has led to a rise in shipping costs by up to 23% as ships re-route through a much longer route via Cape of Good Hope.  

  • The Ram Mandir Inauguration in Ayodhya:  PM Narendra Modi led the "Pran Pratishtha" ceremony at the Ram temple in Ayodhya, where more than 8,000 guests were invited to witness the event. Notable attendees from various sectors including cricket, film, politics, literature, and culture graced the occasion alongside members of the saint society. This is considered one of the most historic events the country has witnessed. 

Check out the awesome content from Ambrela 

Visual of the Week

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The world's largest cruise ship, 'Icon of the Seas', is set to sail from January 27. It offers a host of amenities including the world's largest waterpark at sea. However, concerns about its emissions have been raised. With 20 decks, 40 restaurants, bars, and lounges, seven pools, six waterslides, and a 55-foot waterfall, the Icon of the Seas is over 360 meters long and weighs around 250,000 gross registered tons. 

Test you knowledge !

Did you know which country has the highest percentage of population owning crypto?  

[A]   United States of America  

[B]   Vietnam 

[C]   Ukraine  

[D]   United Arab Emirates

United Arab Emirates has the highest ownership of crypto globally with 30% of its population owning the currency. Crypto use is legal in the country and the government regulations favor the use of blockchain technology. 

UAE is followed by Vietnam, Saudi Arabia, Ukraine and USA. 

Do you know, how the life cycle of an investor would be?  

Check out this video👇 

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