Foreign funds registered with India's markets regulator and with operations at GIFT City can issue so-called participatory notes, the financial services regulator at GIFT said late on Thursday.Participatory notes (P-Notes) are issued by funds and banks to overseas investors who wish to invest in stock markets without registering themselves in India.
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Samir Arora, Founder and fund manager of Helios Capital, believes the Indian market rally is sustainable but the growth pace may moderate. "Globally, the market has been chugging along very well. In one month, the Chinese market has massively beaten the Indian market. And over the year to date, the US market would be up 6-7%. And if we look at Nifty 500, it's gained 9%.
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Shares of Voltamp Transformers Ltd. are down over 8% on Friday despite the company declaring its highest ever dividend payout. On Thursday, the industrial electricity transformer manufacturer announced a dividend of ₹90 per share, for the year that ended on March 31, 2024. Last year, the company had announced a final dividend of ₹40 per share along with a special dividend of ₹20 per share.
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