@ishmohit1 BRICS is trying counter this problem by introducing alternative mechanisms. However, India is the only founding member that’s taking objection to it, and impeding any progress in that direction
RBI Monetary Policy is mildly positive for Rupee 👍
While Interest Rates remained unchanged, GDP growth forecast was revised slightly downward, and Inflation forecast was revised upward to over 5%
They exempted tax on Interest + Capital Gains Tax on Foreign Investment into Govt. Securities
(Income Tax Dept. has simultaneously removed 20% withholding tax for Foreign Investment into Govt Bonds)
RBI also extended limits for Foreign Investment into 15, 20, and 40 year Govt. Securities (now at par with 10 year G-Sec)
This will now allow Indian Banks to begin an outreach programme to attract more Foreign Capital into Bonds. Most likely they will road shows in US, Europe etc
They also raised investment limits for NRIs & OCIs to invest in listed equities without SEBI approval
Step in the right direction 👍
But needs support in the form of big bang policy reforms from Finance Ministry as well
#RBIPolicy
📈Giving a Swing Trade tomorrow to members of my FREE Telegram Channel
Join if you’re interested
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📊Stock performance of Cables and Wires companies from May 29:
🔷Universal Cables : 13.6%
🔷HFCL : 9.5%
🔷RR Kabel : 8.45%
🔷Paramount Communications : 6%
🔷Apar Industries : 5%
🔷Polycab : 2.6%
🔷KEI : 0.1%
You won’t believe which stock from this list we recommended to our members that day 😉
This is our research from the Cables & Wires sector
We are recommending the best stock from this sector tomorrow morning on my SEBI Registered Advisory
🎓SEBI RA: INH000024170
Link to join
🔗 https://t.co/4UJarMHyTz
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Hitachi looking good after yesterday’s phenomenal results ?
PE Ratio compressed significantly
Although it’s still at a whopping 150X
#StockMarket#investing
Just remember - our trade delegation is in USA eagerly waiting to sign the Trade Deal
And now they’re proposing new Tariffs on us
Do we actually expect America to honour any agreement signed ?
PS: India is the only founding member of BRICS opposing putting punitive measures against America. Because of India BRICS could not even issue a join statement condemning attacks against Iran (fellow BRICS nation)
Is this what we get in return for our loyalty ?
Breaking: US proposes new tariffs on India and 59 other global economies after investigation into forced labour practices
10% or 12.5% additional tariff will be levied