Mauritius Financial News

return of foreign investors is a huge positive that could Indian stock markets to record levels. You see, the Indian stock market is very reliant on money coming in from domestic investors. But when foreign money also comes in, the double-effect could result in individual stocks shooting up in no time.

NSA Ajit Doval participated in the 6th NSA-level Meeting of the Colombo Security Conclave on Thursday in Port Louis, Mauritius to give push to steps to stabilise Indian Ocean Region. The Colombo Security Conclave was established in 2020 when India, Sri Lanka and Maldives agreed to expand the scope and membership of their Trilateral Meeting on Maritime Cooperation. Mauritius joined the conclave at the 5th NSA-level meeting of the Conclave on 09-10 March 2022 held in Male, Maldives. Cooperation under the CSC focuses on five pillars of cooperation including maritime safety and security, countering terrorism and radicalization, combating trafficking and transnational organized crime, cyber security and protection of critical infrastructure and humanitarian assistance and disaster relief.

UPI will continue to grow at about 60% in terms of volume above 2023 UPI transactions; P2M will continue to trend higher than that of P2P transactions; P2M will be about 60% of the total UPI volume," said Mehul Mistry, Global Head-Strategy, Digital Financial Services & Partnerships, Wibmo, A PayU Company. “The forecast for 2024 envisions UPI as a pivotal player in promoting financial inclusivity, offering a convenient and interoperable solution for users nationwide.

CSB Bank has received approval from the Reserve Bank of India to retain a 26% stake in the lender, instead of 15% as advised by the central bank earlier, CSB said on Thursday. FIH Mauritius Investments Ltd (FIHM), which currently holds a 49.72% stake in the Thrissur, Kerala-based bank according to BSE data, shall bring down its shareholding within 15 years from the date of completion of investments. The RBI earlier required promoters of banks to reduce their shareholding to 15% to ensure these institutions are widely held. However, following a legal battle with Uday Kotak, the promoter of Kotak Mahindra Bank, the regulator permitted promoters to retain up to 26% in banks. Among others, IndusInd Bank's promoters have benefited from the rule change, after they were given regulatory approval earlier in the year to raise their stake to 26% in the bank.

The first phase followed the creation in 2020 of a new regulator, the International Financial Services Authority, which outlined an ambition to create a welcoming place where India-centric trading that’s moved to Dubai, Mauritius or Singapore can return home. K Rajaraman, who took charge as chairman of the IFSCA in August, spoke with Bloomberg News about the outlook for GIFT City. The interview is lightly edited for clarity: How has GIFT developed since the creation of the IFSCA? GIFT City started in 2007 as a completely greenfield experiment when PM Modi was the chief minister of the state of Gujarat. In 2020 the government created the IFSCA as a unified regulator.

Stock market today: OK Play India shares are one of the multibagger stocks delivered by Indian stock market in 2023. In year-to-date time, this multibagger stock has risen to the tune of over 200 per cent but some FIIs are still bullish on this plastic furniture stock. As per the latest exchange filing by OK Play India Ltd, board of directors of the company has allotted 5 lakh company shares at ₹125 per share to Saint Capital Fund — a Mauritius-based foreign institutional investor (FII).

₹507 crore from its initial investment five years ago. Affiliate BH International Holdings sold its entire 2.46% stake in the fintech firm for ₹1,371 crore to Ghisallo Master Fund and Copthall Mauritius Investment. Ghisallo picked up 42,75,000 shares, while Copthall bought the rest.

GMP: The company's shares in the grey market are trading at a healthy premium of ₹76, indicating a 45 percent premium at listing. However, one must note that grey market premium is only an indicator of how the company's shares are performing in the unlisted market and can change quickly. The ₹501 crore IPO of Gandhar Oil opened for subscription on November 22 and will close on November 24.

Rahul Garg, founder of Moglix, on finding inner peace on the pristine beaches of Mauritius. Gadgets The iPhone goes beyond being just a gadget in my daily life; it’s a dependable ally. When it comes to apps, Gmail keeps me connected, YouTube is my constant source of learning and relaxation, and LinkedIn serves as a gateway to a vast network of professionals. Movie 'Dilwale Dulhania Le Jayenge' beautifully captures the appeal of Indian culture and cross-generational themes.

₹750 crore via open market on Thursday, for the second time in six months, according to bulk deals data. Warburg Pincus, via its subsidiary Orange Clove Investments BV, divested 28,83,819 shares, representing a 3.3% stake in the affordable housing financing company, for approximately ₹251 crore. As of the end of September, an affiliate of Warburg Pincus held a 26.4% stake in the company.

Warburg Pincus and two promoter group entities offloaded shares of Home First Finance through the open market on Thursday for the second time in six months. Warburg Pincus, through its affiliate Orange Clove Investments BV, sold 28,83,819 shares or 3.3% stake in the affordable housing financing company for about Rs 251 crore, according to bulk deals data. As of September-end, Warburg Pincus, through this affiliate, held 26.4% stake in the company.

GMP: The company's shares in the grey market are trading at a healthy premium of ₹73, indicating an over 43 percent premium at listing. However, one must note that grey market premium is only an indicator of how the company's shares are performing in the unlisted market and can change quickly. The ₹501 crore IPO of Gandhar Oil opened for subscription on November 22 and will close on November 24.

₹643.26 crore from anchor investors including Goldman Sachs, ahead of the launch of its initial public offering (IPO). IREDA IPO opens for subscription on Tuesday, November 21, and will close on Thursday, November 23.

Adani group. An application has been filed by PIL petitioner Vishal Tiwari saying that despite the deadline given to the SEBI it has failed to comply with the direction of the court and has not submitted the final conclusion/report as was directed by the court.

Narendra Modi on Friday made plain his views on the ongoing conflict between Israel and Hamas, stating India strongly condemns civilian deaths arising from the devastating war. Speaking at the second edition of the Voice of Global South Summit in New Delhi, which saw leaders of Mauritius, Bangladesh, Indonesia, Ethiopia, Kenya and Kyrgyzstan, among others, in attendance, Modi said: “India has condemned the heinous terror attacks in Israel on 7 October. We have urged restraint along with dialogue and diplomacy.

Delhivery, the country's largest fully integrated logistics services provider, tumbled 3.70% in early trade on Friday, reaching ₹398.50 apiece. This downturn came after 1,74,57,113 shares of the company changed hands in a block deal window on Friday. The total worth of the transaction was around ₹722.18 crore.

The firm’s flagship fund, Fundsmith Equity, held £23.9bn in assets at the end of September, down from a peak of about £28.8bn in December 2021, according to data from FE fundinfo.

Rishi Sunak has sacked Home Secretary Suella Braverman after she came under attack for writing an article in the 'Times'. In the article, the Indian-origin MP criticized what she called «pro-Palestinian mobs» and wrote that protest scenes were «disturbingly reminiscent» of those seen in Northern Ireland. Braverman also criticized the Met Police for a «double standard» over their handling of protests. Quitting her office, the Tory MP said it was «the greatest privilege of my life to serve as home secretary». James Cleverly has replaced her.

Stock market today: Despite weak market sentiments, Yes Bank shares are attracting strong buying interest during Monday deals. After opening flat during early morning session on Monday, Yes Bank shares attained bull trend all of a sudden and touched intraday high of ₹19.50 per share on NSE, logging near 6 per cent rise from its close price of ₹18.40 on NSE during Muhurat trading session on Sunday.

Geojit Financial Services Dr Vijayakumar, who though feels that IT, mid caps will outperform large caps. Also Read- Mauritius-based FII buys stake in this multibagger energy stock Ambreesh Baliga, Independent market expert said that the momentum in the mid and small caps is keeping investors interested in the space. However the valuations are stretched now.

Regulation, Forex, Crypto, Web 3.0, Metaverse, AI, ESG Will Be in Focus.