The Foreign Investment Promotion Board, which had rejected BNP Paribas’ proposal to buy Sharekhan in June this year, had approved it later in October. The transaction was first announced in July 2015.
"In the short term, demonetisation may lead to tightening, which can have a slowdown effect on the economy. The issue that is holding back the country's growth potential is recapitalisation and restructuring of the public sector banks"
ICICI Prudential AMC was appointed earlier this year by the Department of Investment and Public Asset Management to manage the new ETF.
Maybank Kim Eng Securities said indices can fall 5-10% further if the expected gains from demonetisation after December 30 turn out to be less meaningful.
Polyflex Marketing, which holds 27.75% stake in Sheela Foams, will get all the proceeds. Edelweiss Financial Services and ICICI Securities are managing the issue for Sheela Foam.
HSBC said absorption in the top eight cities fell 22% from the same period a year ago in the second quarter of FY17, while new launches fell 47%.
"I think there will be an increase in borrowing. I would expect the Trump administration to spend more money on infrastructure," he says.
"India is most attractive among emerging economies beacause it is finally unleashing its economic potential and the growth rates of the recent past have confirmed that India has enormous potential."
"We are probably going to see a looser fiscal stance. Trump has promised to cut taxes and to raise spending on infrastructure. He is business friendly," says Lewis.
Demonetisation of Rs 500 and Rs 1000 notes will for next 3-6 months lead to economic activity virtually coming to a halt as people adjust to this new paradigm, but from a 3-5 year perspective, it reduces the cost of capital, inflation, gives more room (to the RBI) to cut interest rates.
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