FOREIGN PORTFOLIO INVESTORS have come back with a bang in the current financial year after being net sellers in the previous fiscal. In Q1 of FY24, they invested ₹1.14 lakh crore ($13.9 billion) in Indian equities after dumping stocks worth ₹37,632 crore ($5.1 billion) in FY23. This took Nifty multiples (12-month trailing) to 22.4 in June-end. If the momentum continues through the month, the index may trade at a significant premium to its 10-year average of 19.5 times.
Long Reads
FPI Flows Bring Zing Back Into Nifty Premium
Foreign portfolio investors have come back with a bang in the current financial year after being net sellers in the previous fiscal.
Stories
Mukesh Ambani Richest Among Diversified Groups
Diversified groups account for 23 out of 157 Indian dollar billionaires. The top 5 diversified groups control almost 78.58% of wealth in the category.
10 RICHEST INDIANS
Top 10 Richest Indians accounted for 41.65% of the total wealth of 157 dollar billionaires. The wealth of all dollar billionaires is 25.4% of India’s FY23 GDP.
There's Business In Water
India Inc. is creating modern water infrastructure, aiding the evolution of an organised industry.
Economic Rise, Owners' Pride
This year's roster of India's dollar billionaires is a reaffirmation that the growth story is not ephemeral but perpetual.
India's Richest
The annual Fortune India-Waterfield Advisors list ranks 157 dollar billionaires in the country with a cumulative wealth of ₹69.30 lakh crore. Top 10 account for 41.65% of total wealth.
India's Expanding Wealth Universe
The overall wealth of India's uber-rich swelled from ₹66.35 lakh crore ($832 billion) to ₹69.30 lakh crore ($843 billion) in 2023.
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