Indian investors remain optimistic on growth story: Franklin Templeton Investor Survey

Indian investors continue to have a high degree of confidence in the local economy, and are in favor of keeping their investment money close to home, a Franklin Templeton global poll has found. In its annual global survey conducted earlier this year, the Franklin Templeton Global Investor Sentiment Survey polled more than 20,000 individuals in 19 countries including India that represent 70 percent of the world’s GDP. The survey provides a unique snapshot of global sentiment and attitudes at a critical juncture in the market cycle.

Recent Global Uncertainty Has Led to More Conservative Investing and Risk Aversion
Uncertainty about the global economy has continued to heavily influence respondents’ attitudes toward investing. Slightly more than half of those surveyed (51 percent) believe the global economy has deteriorated, and 45 percent report that they have become “somewhat to more” risk averse over the last three years. Reflecting that conservative outlook, only a minority (one in five) of respondents would seek to make their portfolios more aggressive this year.

Read more: The Economic Times

ireo skyon

Space age living are Ireo Skyon, located in Sector 60, Gurgaon

RBI’s ‘massive’ intervention sparks rupee gains

The rupee strengthened on Tuesday from a near record low against the dollar after the central bank stepped in with what various dealers described as “massive” intervention, signaling an intent to defend the beleaguered domestic currency.

Some dealers said the dollar sales via state-run banks was to the tune of $400-$500 million, and continues a pattern of aggressive interventions this month as the rupee has threatened to touch a record low of 54.30 hit in December.

Traders widely believe the Reserve Bank of India is looking to defend the psychologically key level of 54, which the rupee breached early on Tuesday morning by falling to as low as 54.15 to the dollar, sparking the central bank action.

Read more: The Economic Times

Rupee slump almost over, seen up later in year: Poll

The rupee will hover near record lows against the dollar for the next month or so, but a further significant fall is unlikely following a near 10 per cent slide in the currency since February, a Reuters poll shows.

Indeed, the currency is expected to appreciate gradually after June to around 50 per dollar by March 2013, the poll of more than 20 respondents shows.

It was trading at 53.70 per dollar on Tuesday after hitting a record closing low on Monday of 53.96/97 and a record low in December of 54.30.

Read more: The Economic Times

Market may correct more than 5% if things worsen in Europe: Jitendra Sriram, HSBC AMC

In an interview with ET Now, Jitendra Sriram , VP & Head of Fund Management-Equities, HSBC Asset Management (India) Pvt Ltd , talks about the markets. Excerpts:

ET Now: Where do you think the market goes from here? Do you expect it to be range bound or there is likely to be more downside risk before a strong upward move?

Jitendra Sriram: There have been a lot of corrective elements in the market. The results have been a little disappointing. I think that given the short-term outlook, we could see the market drift down a little. However, from a longer-term perspective, we remain quite constructive on the market. Finally, we are seeing some degree of earnings starting to bottom out. The extent of cuts that has come through after every result is starting to ease up a bit now. Valuations have turned a lot more favorable than what they were before.

Read more: The Economic Times

India’s IT infra market to touch $2 bn: Gartner

The Indian information technology infrastructure market will reach $2.05 billion in 2012, showing a growth of 10.3 per cent over last year’s figure, research firm Gartner Inc. says. This market, comprising of servers, storage and networking equipment, is expected to cross the $3 billion mark by 2016.

Revenue growth will be primarily driven by ongoing data center modernization, as well as new data center build outs. Servers are the largest segment of the Indian IT infrastructure market, as revenue are forecast to reach $754.5 million in 2012, and grow to $967.2 million in 2016.

Read more: The Hindu Business Line

Real Estate News

13 realty companies like DLF, Parsvnath and Eros bid for Sebi’s Delhi office

Realty players DLF, Parsvnath and Eros are among the 13 companies, which have put in a bid for the Securities and Exchange Board of India’s new northern regional office in Delhi as the regulator seeks to expand its operations in Delhi. The market regulator is in the process of buying 30,000 sq ft or more of office space in Delhi’s Connaught Place area. It currently operates through an 8,000 sq ft office on Sansad Marg and wants to make an outright purchase of built-up office space or a plot of land. Parsvnath has offered to sell its 1.18-acre plot on Kasturba Gandhi, which it has been trying to sell for the last two months for 600-700 crore, said sources in the know who did not want to be named. DLF wants to sell space at DLF Towers in Jasola while Eros has offered space in Eros Corporate Towers in Nehru Place, said the sources. An email sent to Sebi did not elicit a response.

The transaction for 30,000 sq ft of space in Connaught Place is expected to happen between 150 crore and 200 crore, though a Sebi spokesperson did not confirm its budget sanctioned for the specific property. In its budget for 2012-13, Sebi has put aside around 281 crore for the acquisition of office and residential premises. This amount includes acquisition of new office premises or plot of land in BKC for additional office space in Mumbai, setting up of five local offices at new locations, purchase of flats for senior executives at Mumbai and also the purchase of office space for a northern regional office at New Delhi. According to the source, technical bids received by Sebi were opened on Friday and are being analyzed currently. The financial bids of the shortlisted parties will be opened subsequently.

Read more:  The Economic Times  

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