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FPIs invest Rs 24,965 crore in February so far.

Jet Airways may fly again by July-Aug, says Murari Lal Jalan of Jalan-Kalrock consortium.

Markets opened in negative territory – both NSE and BSE may be due to technical correction and  some sort of ‘profit-booking’.

Going ahead, the focus will be on how soon India gains economic momentum.

Continuing their buying spree, foreign portfolio investors (FPIs) invested Rs 24,965 crore in Indian markets in February so far as various organisations predicted high economic growth for the country and the Union Budget boosted investor sentiment.

According to depositories’ data, FPIs pumped in Rs 24,204 crore into equities and Rs 761 crore in the debt segment, taking the total net investment to Rs 24,965 crore during February 1-19.

In the preceding month, FPIs were net investors of Rs 14,649 crore.

“Various organisations, both national as well as international, have predicted a high economic growth for the upcoming year and the year after for India,” said an analyst.

FPIs remained positive on Indian markets as IMF predicted India to be the fastest-growing economy in 2021.

“A pro-growth Budget aimed at leveraging the digital revolution is transformational and we expect FPI flows to continue next month as well aided by MSCI rebalancing,”

In addition, the earnings season also turned out to be good,

For emerging markets, flows have been muted in emerging markets this month to date.

Only India and Taiwan have received meaningful FPI flows this month to date, he added

Regarding debt segment, , FPIs have stayed away from Indian debt markets for a long time now “mainly on concerns around COVID-19, calibrated support by RBI and low-interest rates.”

Going ahead, the focus will be on how soon India gains economic momentum.

“However, the way markets are headed and given high valuations, there is a strong possibility of profit-booking at regular intervals, which could slow down the pace of net flows,” Emerging markets like India may continue to receive foreign investments, as long as central banks globally adopt an accommodative stance in order to bring their economies back on track from the impact of the coronavirus pandemic, he added.

Jet Airways may fly again by July-Aug, says Murari Lal Jalan of Jalan-Kalrock consortium. The Kalrock-Jalan consortium was declared the winning bidder for Jet Airways by the creditors’ committee in October last year.

Almost two years after India’s oldest private airline was grounded, Jet Airways may be able to fly again by July or August of this year, the potential new owner of the airline told CNBC-TV18.

Murari Lal Jalan, the lead member of the Jalan-Kalrock consortium, said that the unexpected delay in securing National Company Law Tribunal’s (NCLT) nod may push the plans to get Jet Airways back in the sky by two to three months.

The Kalrock-Jalan consortium was declared the winning bidder for Jet Airways by the creditors’ committee in October last year but is still awaiting the final clearance from NCLT before it can take over the airline.

In a conversation with CNBC-TV18, Jalan said that while the initial plan was to get the airline flying again by April this year, he now expects the pending NCLT approval to come in over the next 3-4 weeks, and have the airline up and running by July-August.

Murari Lal Jalan is a UAE based entrepreneur and has investments in several sectors like real estate, mining, trading, construction, fast-moving consumer goods, dairy, travel & tourism and industrial works globally, according to reports.

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