MARKET EYE-Investments into Indian P-notes surge in October

Tue Dec 18, 2012 3:29pm IST

Related Topics

* The total value of participatory notes into Indian equity and
debt, including derivatives, rose to 176 trillion rupees ($3.21
trillion) in October, its highest since February, according to
Securities and Exchange Board of India (SEBI) data. (link.reuters.com/bag74t)
* The rise in investments via P-notes marks a significant
recovery from the fiscal 2012-13 year-low in May when the value
fell to 1.29 trillion amid worries the government was looking to
tax foreign investors under the General Anti Avoidance Rule
(GAAR).
* Participatory notes are offshore instruments issued by foreign
institutional investors to overseas investors who want to invest
in India without having to directly register with Indian capital
markets regulator SEBI.
* However, the deferral of the implementation of GAAR,
valuations in equities and the government's fiscal and economic
reforms have revived investments into P-notes.
($1 = 54.7900 rupees)

 (abhishek.vishnoi@thomsonreuters.com /;
abhishek.vishnoi.reuters.com@reuters.net)
FILED UNDER:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

  • Most Popular
  • Most Shared

Drug Pricing

REUTERS SHOWCASE

Modi Speaks

Modi Speaks

PM Modi says al Qaeda will fail in India - CNN.  Full Article 

Price Cap

Price Cap

India caps prices of 36 more drugs to improve access - govt official.  Full Article 

India-US Diplomacy

India-US Diplomacy

Obama to nominate Indian-American Richard Verma as India ambassador - congressional source.  Full Article 

Importing Rice

Importing Rice

Top rice exporter India importing over 100,000 T on temporary supply squeeze.  Full Article 

GSK Fined

GSK Fined

China hands drugmaker GSK record $489 mln fine, sentences executives.  Full Article 

HMT in Demand

HMT in Demand

Fans rush to HMT as watchmaker marks time.  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device.  Full Coverage