Hedge funds short on Tesla just lost more than $5 billion
Hedge funds that had short positions against Tesla between election day and Friday’s close took an on-paper hit of at least $5.2 billion, according to Bloomberg calculations based on data compiled by S3 Partners.
Defaults coming back to bite, banks rein in growth of unsecured credit
Several lenders said that they now prefer offering loans to customers with credit scores of more than 750 from a cap of 720 seen prior to the onset of stress. Banks are also keeping a very close watch on days past due (DPD), where collection machinery gets triggered at day zero DPD.
Niva Bupa Health IPO subscribed 1.8x at close
The non-institutional investors or HNI category was subscribed 0.68 times. The public issue comprised a fresh issue of ₹800 crore and an offer for sale of ₹1,400 crore by promoter Bupa Singapore Holdings and Fettle Tone LLP.
RBI rolls out rules to reclassify FPI investment as FDI
The current law says an FPI cannot hold more than 10% of the total paid-up equity capital as portfolio investment in an Indian company. The investment is categorised as foreign direct investment (FDI) if the holding exceeds the 10% limit. Until now, there was lack of clarity on how the offshore portfolio manager could go […]
Mutual fund flows stay resilient in choppy October
Investors bought equity funds worth ₹41,887 crore in October, the highest ever in a month, compared to ₹34,419 crore in September. SIP purchases amounted to ₹25,323 crore, up from ₹24,509 crore in the previous month
Bitcoin zooms past $84,000, likely to make higher highs
Bitcoin prices have soared by around 127% in the past year from $36,000 levels. Dow Jones industrial Average index of the US and India’s benchmark Nifty 50 have gone up 30.3% and 11.11%, respectively, during this period. The virtual currency was at $69,373.7 on the day of voting in the US, also the day before […]
How can I trade cryptocurrencies in India
All crypto exchanges in India are required to be registered with the FIU (Financial Intelligence Unit- India). You’ll be required to do the KYC (Know Your Customer) by the an Aadhar Card and PAN card to the platform.