News In Numbers: September 8, 2015
Rs 9,625 crore
The investments in equity mutual funds in August, a 63% increase from July and the 16th consecutive month of inflows, according to the Association of Mutual Funds in India. This is despite Indian share markets having their worst August in four years. Also, Indian equity markets have seen the third-largest outflows in Asia since China devalued its currency last month, with foreign institutional investors pulling out pulling out $3.3 billion. Household ownership in equities , both direct and indirect, has halved in the past 15 years. Just about 2% of Indian households’ total financial assets are invested in stocks, against 35% in the US. A research report by Morgan Stanley estimates that Indian households are likely to invest $300 billion in equities over the next 10 years.
Rs 16,000 crore
The likely cost of implementation of the one rank, one pension programme (OROP) for ex-servicemen in 2015-16, according to an HSBC report, which adds this would “have a significant impact on the fiscal bill”. Japanese brokerage Nomura’s estimates of Rs 10,000 crore for 2015-16 are closer to the government’s calculation (Rs 8,000-10,000 crore). Both HSBC and Nomura say OROP would add to the fiscal burden, though the latter does not expect it to derail the 2015-16 fiscal deficit target of 3.9% of GDP. HSBC says the key determinant will be tax revenue growth. The government maintains it has the “fiscal space” to absorb the OROP expenses without affecting its fiscal deficit target.
The estimated valuation of Zomato Media in April 2015, which yesterday said it had raised $60 million in fresh capital. The restaurant search and review website is planning to deploy half of the funds raised to grow its India business, with the rest for services business in other countries, besides venturing into two new undisclosed markets. The Indian food services industry is expected to reach $78 billion by 2018, while the overall food ordering business was estimated to be around Rs 5,000-6,000 crore in 2014, according to India Brand Equity Foundation. Several food start-ups in India have entered the online ordering space in the last few years, including FoodPanda, JustEat, Tiny Owl and Swiggy.
British scientists have discovered a blood test that determines the “biological age” of a person, rather than the one calculated using the date of birth, to predict the rate of ageing in a person. This test, discovered by a team from King’s College London, compares the behaviour of 150 different genes. Instead of looking at genes associated with diseases or extreme longevity, the researchers found out that the ‘activation’ of 150 genes in blood, brain and muscle tissue signalled good health at 65 years of age. For instance, one might be 50 years old but have a body of a 30-year-old due to a good lifestyle. This research also found that people with lower “healthy age gene scores” had been diagnosed with Alzheimer’s disease.
Rs 1.7 lakh
The price per sq ft of the built-up area of the property that Aditya Birla Group chairman Kumar Mangalam Birla is close to purchasing in Malabar Hill in Mumbai. At a reported price of Rs 425 crore, this will be one of the most expensive residential property deals in the city. Yet, the price per sq ft of the built-up area for this property is slightly lower than the bungalow (Rs 1.9 lakh) purchased by the managing director of an apparel manufacturing company in Central Delhi for Rs 173 crore. On a total area basis, though, the Mumbai house is priced at Rs 1.3 lakh per sq ft, against the Delhi house of Rs 60,637. The iconic Mumbai property, Jatia House, is currently owned by Chem Mach, a company promoted by industrialist Yashvardhan Jatia.
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