Weekly News 25th April 2022

1. Weekly
News
25th April 2022
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2. Snapshot
FPIs pull out Rs 12,300
Cr from equities in April
ICICI Pru MF merges
five fixed maturity plans
with its Money Market
Expect RBI to hike repo
rate by 125 bps in next
6 monetary policies
starting June: ICICI
Bank
Sebi considers
exempting LIC from
mandatory 5% float in
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3. FPIs pull out Rs 12,300 Cr from
equities in April
 Foreign investors have withdrawn nearly Rs 12,300 crore from the
Indian equity market so far this month as fears of an aggressive rate
hike by the US Federal Reserve continue to dent investor sentiments..
 Overseas flows into Indian equities could continue to be under
duress owing to an approaching rate hike by the US Fed, unstable
crude prices, weak quarterly results, uncertainty around the Russia-
Ukraine war, and high domestic inflation numbers.
 Apart from equities, FPIs withdrew a net Rs 1,282 crore from the debt
markets during the period under review.
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SEBI Registered Investment Adviser (INA200006628)

4. ICICI Pru MF merges five fixed maturity plans with its
Money Market
 ICICI Pru mutual fund has announced that its board and the trustees have approved the
have approved the merger of five Fixed Maturity Plans (FMPs), into ICICI Prudential
ICICI Prudential Money Market Fund.
 The merging schemes are as follows: ICICI Prudential FMP Series 84 - 1272 Days Plan
84 - 1272 Days Plan Q, ICICI Prudential FMP Series 84 - 1279 Days Plan P, ICICI
Plan P, ICICI Prudential FMP Series 84 - 1288 Days Plan O, ICICI Prudential FMP Series
Prudential FMP Series 84 - 1254 Days Plan U and ICICI Prudential FMP Series 84 - 1247
FMP Series 84 - 1247 Days Plan W.
 The effective date of the merger will be the maturity date of each FMP, which is either May
FMP, which is either May 30, 2022, or June 2/9, 2022.
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SEBI Registered Investment Adviser (INA200006628)

5. Expect RBI to hike repo rate by 125 bps in next 6
monetary policies starting June: ICICI Bank
 B Prasanna, Head-Global Markets Group, ICICI Bank has expectst RBI
To Hike Repo Rate By 125 Bps In Next 6 Monetary Policies Starting
June.
 He mentioned that ICICI Bank is penciling in 125 bps rate hikes in
the next 6 meetings. He believes the repo rate will be in the range
of 5.25-5.5 percent a year from now.
 Prasanna highlighted that there are multiple factors that are not
going in favor of bonds this year. Key among them is the evolving
outlook on inflation, Federal Reserve’s hawkishness and the change
in stance of RBI.
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SEBI Registered Investment Adviser (INA200006628)

6. Sebi considers exempting LIC from mandatory 5% float
in IPO
 The government, which has time till May 12 to launch the LIC IPO
without filing fresh papers with the market regulator, will not
launch a follow-on public offering (FPO) for a year after listing
even as the watchdog considers exemption sought from compulsory five
percent listing on float, sources told CNBC-TV18..
 Under the current rules, if the post-issue capital of a company
calculated at the offer price is above Rs 1 lakh crore, it's
required to issue shares worth Rs 5,000 crore and five percent of
equity.
 If the offer is less than that calculated under this norm for large
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SEBI Registered Investment Adviser (INA200006628)

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