Nifty can hit 10,000 by December’17-end: Jayant Manglik

Nifty50 companies may report 7-8% growth in FY17 and double of that in FY18, said Jayant Manglik, president – retail distribution at Religare Securities. In an Interview with Aprajita Sharma and Pranati Deva, he stressed that the next financial year will be a watershed year for the stock markets. Edited excerpts: Continue reading

Akshaya Tritiya – annual gold SIP festival!

By – Mr. Jayant Manglik, President of Retail Distribution at Religare Securities Limited

Buying gold on this day every year, is akin to a systematic investment plan in gold.

While Akshaya Tritiya has become synonymous with buying gold, it is actually a holy day for a large part of our population. The word Akshaya means ‘that which never diminishes’. It is believed that whatever is started on this day will prosper. This is why it is a good day to start a new business, or join a new job just as the new CEO of MCX is expected to! Because of the belief that anything started on this day will grow, it is also an opportune time to make important purchases like gold, which is a symbol of wealth and prosperity. Continue reading

Cross-currency trading: taking the next steps forward

By – Mr. Jayant Manglik, President of Retail Distribution at Religare Securities Limited

The Reserve Bank of India (RBI) first announced its intention to allow cross-currency derivatives last September. Not many paid attention, except perhaps the exchanges and some inter­mediaries. While everyone thought it would take a year or more to operationalise, RBI and the Securities and Exchange Board of India (Sebi) moved with speed and are set to launch cross-currency derivatives trading in three of the most liquid pairs in the world-US dollar versus euro, British pound and Japanese yen. To facilitate trading, the cross-currency derivatives markets will be open from 9 am to 7:30 pm, so as to cover Japanese and European market tim­ings and the first hour of the US markets.

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First steps to being a financial hub

By – Mr. Jayant Manglik, President of Retail Distribution at Religare Securities Limited 

FDI in commodity exchanges was allowed a few years ago. Now India is set to permit 100% FDI in commodity broking under the automatic route. This highlights the growth potential and the resultant importance being given to this sector. It will ensure that the latest technology and global management best practices are fast-forwarded into the industry. Commodities being international by their very nature, such a step will help in faster integration with global markets. I think it is also another step towards becoming a South Asian financial hub. Club this step with the opening of cross-currency futures & options trading, the Gift City benefits etc and you have a clearer picture. Continue reading

This budget can be magic for investors…

By – Mr. Jayant Manglik, President of Retail Distribution at Religare Securities Limited 

This budget can be magic for investors if the government takes suitable steps in the equity and commodity markets aiming to become the South Asian financial hub. We have the size and the gravitas, now we need ease of doing business. This will truly be a ‘made-in-India’ achievement and the budget can help move quickly in that direction with some objective steps. Of course, taxes levied on salaried individuals as well as corporates should be rationalized so that there is more money in the hands of the earner and therefore more money to invest to secure the future. But it is equally important that the investor is a participant in India’s growth story. Without doubt equity markets will be an important avenue towards this as the growth will be funded by equity and debt. I would add four specific asks from this budget. Continue reading

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