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Foreign investors withdraw $244M, triggering second wave of outflows

**Foreign Investors Withdraw $244M, Triggering Second Wave of Outflows**

*By Akash Pandey | Sep 29, 2025 11:06 AM*

Foreign investors have pulled out a staggering $244 million from India-focused funds this week, according to a recent report by Elara Capital. This marks the second major wave of redemptions since July, contributing to a total outflow of $2.3 billion. Notably, this is the largest withdrawal since the significant $4.4 billion rout that occurred between October 2023 and March 2024.

**Impact on Funds**

Large-cap funds have been hit the hardest during this selloff, with withdrawals totaling $2 billion in this phase alone. In contrast, mid- and small-cap funds have largely been spared, experiencing redemptions of roughly $20 million each.

Geographically, US-based funds led the withdrawals with $1 billion pulled out, followed by Luxembourg-based investors at $765 million and Japan at $365 million.

**Shifting Global Market Preferences**

The outflows are driven by a notable shift in global emerging market (GEM) portfolios. Allocation to India in GEM funds has dropped to 16.7%, marking its lowest level since November 2023 and down from a peak of 21% in September 2024. Meanwhile, China’s share has surged to 28.8%, indicating a clear pivot by active portfolio managers towards the Chinese market.

**Global Trends**

Despite sustained outflows from India, US equity funds attracted $10.5 billion this week. However, the pace of inflows has slowed since the Trump administration’s tariff announcement in April. Interestingly, domestic US funds experienced redemptions totaling $2.2 billion over the same period.

Precious metal funds saw record inflows of $13.5 billion, while commodity funds extended their winning streak to five consecutive weeks — the longest since 2020. Additionally, high-yield or junk bonds continued to attract steady inflows, with net asset values climbing back to levels last seen in October 2021.

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This recent wave of foreign investor exits underscores the evolving dynamics in global capital flows, especially within emerging markets, where shifting geopolitical and economic factors continue to influence investment decisions.
https://www.newsbytesapp.com/news/business/foreign-investors-pull-out-244m-from-india-focused-funds/story

Non-Banking Financial Company Tata Capital Set To Launch IPO On October 6, Issue Size Pegged At ₹17,200 Crore

**Tata Capital to Launch USD 2 Billion IPO on October 6, Eyeing USD 18 Billion Valuation**

New Delhi: Tata Capital, the non-banking financial company and financial services arm of the Tata Group, is set to launch its initial public offering (IPO) on October 6, 2025. According to sources familiar with the matter, the issue size is pegged at an estimated USD 2 billion (approximately Rs 17,200 crore).

The IPO bidding will open on Monday, October 6, 2025, and close on Wednesday, October 8, 2025. The anchor investor bidding date is scheduled for Friday, October 3, 2025, as disclosed to the stock exchanges.

Tata Capital is targeting a valuation of around USD 18 billion. The proposed IPO comprises 47.58 crore shares, including a fresh issue of 21 crore equity shares and an offer for sale (OFS) of 26.58 crore shares.

As part of the OFS, Tata Sons will offload 23 crore shares, while the International Finance Corporation (IFC) will divest 3.58 crore shares. Currently, Tata Sons holds an 88.6% stake in Tata Capital, and IFC owns a 1.8% stake.

Proceeds from the IPO will be utilized to strengthen Tata Capital’s Tier-1 capital base, supporting future capital requirements including onward lending.

Tata Capital filed draft papers for the IPO through the confidential pre-filing route in April 2025, receiving regulatory approval from the Securities and Exchange Board of India (SEBI) in July 2025. If successful, this IPO will become the largest public issue in India’s financial sector and mark the Tata Group’s second public listing in recent years, following Tata Technologies’ debut in November 2023.

### RBI Listing Mandate and Sector Context

This IPO aligns with the Reserve Bank of India’s listing mandate requiring upper-layer non-banking financial companies (NBFCs) to be listed within three years of classification. Tata Capital was designated as an upper-layer NBFC in September 2022.

In a similar sector move, HDB Financial Services, the non-banking arm of HDFC Bank, went public in June 2025 with a Rs 12,500 crore issue. Bajaj Housing Finance, another upper-layer NBFC, made a blockbuster market debut in September 2024, closing its first day of trade with a 135% premium over the issue price.

### Financial Performance and Business Portfolio

For the financial year 2024-25, Tata Capital reported a profit after tax (PAT) of Rs 3,655 crore, up from Rs 3,327 crore in FY24. Its revenue also witnessed a significant jump to Rs 28,313 crore in FY25, compared to Rs 18,175 crore in the previous year.

Since beginning lending operations in 2007, Tata Capital has served more than 70 lakh customers as of March 31, 2025. With a portfolio offering more than 25 lending products, the company caters to a diverse clientele including salaried and self-employed individuals, entrepreneurs, small businesses, SMEs, and corporates.

Beyond lending, Tata Capital also distributes third-party products such as insurance and credit cards, offers wealth management services, and acts as a sponsor and investment manager for private equity funds.

### IPO Management

The IPO is being managed by a consortium of leading book-running lead managers, including Axis Capital, Kotak Mahindra Capital Company, BNP Paribas, HDFC Bank, HSBC Securities and Capital Markets (India) Private Limited, Citigroup Global Markets India Private Limited, ICICI Securities, IIFL Capital Services, SBI Capital Markets, and J P Morgan India.

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*Disclaimer: This story is from a syndicated feed. The content remains unchanged except for the headline.*
https://www.freepressjournal.in/business/non-banking-financial-company-tata-capital-set-to-launch-ipo-on-october-6-issue-size-pegged-at-17200-crore

Gold Prices Climb ₹171 To ₹1,12,800 Per 10 Grams In Domestic Futures Market, Silver Declines ₹400

New Delhi: Gold prices climbed by Rs 171 to reach Rs 1,12,800 per 10 grams in the domestic futures market on Friday, despite a largely flat trend in the overseas market. Meanwhile, silver pulled back from its record peak, declining by Rs 400 to Rs 1,36,656 per kilogram.

On the Multi Commodity Exchange (MCX), gold for October delivery rose Rs 171, or 0.15%, to Rs 1,12,800 per 10 grams in a turnover of 2,834 lots. Similarly, the December contract traded higher by Rs 56, or 0.05%, at Rs 1,13,927 per 10 grams in 13,573 lots.

In contrast, silver eased after scaling fresh records in the previous session. The December contract fell Rs 400, or 0.29%, to Rs 1,36,656 per kilogram in 17,462 lots. The white metal had touched a record high of Rs 1,37,530 per kg on Thursday.

The March 2026 contract also slipped Rs 351, or 0.25%, to Rs 1,38,051 per kg in 2,216 lots after hitting an all-time high of Rs 1,38,847 per kg in the previous session.

Globally, gold futures for December delivery rose 0.15% to USD 3,776.90 per ounce, while silver futures were trading 0.21% lower at USD 45.02 per ounce. On Thursday, silver had climbed to hover near a 14-year high of USD 45.50 per ounce.

Commodities market experts said upbeat US macroeconomic data released on Thursday fueled uncertainty over the pace of interest rate cuts by the Federal Reserve, helping the dollar stay near a three-week high. This, in turn, limited gains in gold prices.

They added that the downside for gold may remain cushioned as traders await the release of the US personal consumption expenditures (PCE) price index—the Fed’s preferred inflation gauge—for policy cues and near-term direction for bullion prices. The data will confirm whether the US Federal Reserve (Fed) will remain on track for two rate cuts this year.

Experts also noted that renewed concerns over the economic fallout from US President Donald Trump’s fresh tariffs on a wide range of imports, along with rising geopolitical tensions, are likely to keep safe-haven demand intact.

“Persistent geopolitical risks and festive demand in Asia could lend support to gold at lower levels,” an expert said.

*Disclaimer: This story is from a syndicated feed. Nothing has changed except the headline.*
https://www.freepressjournal.in/business/gold-prices-climb-171-to-112800-per-10-grams-in-domestic-futures-market-silver-declines-400

‘Muhurat Trading’ for Diwali on October 21: Check timings

**Muhurat Trading for Diwali on October 21: Check Timings**

*By Dwaipayan Roy | Sep 22, 2025, 08:00 PM*

The National Stock Exchange (NSE) has announced a special Muhurat Trading session to commemorate Diwali this year. Scheduled for October 21, the session will run from 1:45 PM to 2:45 PM. Notably, the pre-opening session will be held from 1:30 PM to 1:45 PM, a change from the usual evening timing.

**What is Muhurat Trading?**

Muhurat Trading marks the beginning of a new Samvat, or Hindu calendar year. It is considered an auspicious time for trading, believed to bring prosperity and financial growth to investors and stakeholders. During this special session, various market segments will be covered, including equity, commodity derivatives, currency derivatives, equity futures and options, as well as securities lending and borrowing (SLB).

**Stock Market Closure and Trading Details**

On Diwali, the stock market will remain closed for regular trading, except for this exclusive one-hour Muhurat Trading session. All trades executed during this period will lead to settlement obligations. Despite its short duration, the session is conducted with full market formalities and records, just like any other trading day.

Investors often view Muhurat Trading as an auspicious opportunity to invest, with many purchasing shares for long-term holding or as part of family rituals during the festival.

**Historical Market Trends During Muhurat Trading**

Historically, Muhurat Trading sessions have tended to yield positive returns, even though the trading volumes are usually low. Over the last 16 years, the market indices have closed in the green in 13 of these sessions, highlighting the favorable trend associated with this event.

Last year’s Muhurat Trading saw the Sensex climb by 335 points (0.42%) to close at 79,724, while the Nifty gained 99 points (0.41%), ending at 24,304 — a strong finish that underscores the positive sentiment during this auspicious trading hour.

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Make the most of this festive trading opportunity by marking your calendars for October 21 and participating in the Muhurat Trading session to start the new Samvat year on a prosperous note.
https://www.newsbytesapp.com/news/business/nse-announces-muhurat-trading-for-diwali-on-october-21/story

VinFast India taps Hyundai executive as its CEO

**VinFast India Taps Hyundai Executive as Its CEO**

*By Dwaipayan Roy | Sep 21, 2025, 02:58 PM*

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**Vietnamese EV Maker VinFast Appoints New CEO in India**

Vietnamese electric vehicle (EV) manufacturer VinFast is set to appoint Tapan Ghosh, currently Vice President and Head of Sales at Hyundai India, as the CEO of its Indian operations. Ghosh has already submitted his resignation to Hyundai and is expected to join VinFast India on October 16.

This leadership change comes shortly after VinFast launched its two new electric SUVs, the VF6 and VF7, in the Indian market.

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**VinFast’s Growing Presence in India**

So far, VinFast’s strategy in India has been overseen by Pham Sanh Chau, CEO of VinFast Asia. The company has established an assembly plant in Thoothukudi, Tamil Nadu, with plans to initially produce 50,000 cars. Production capacity is expected to scale up to 300,000 units over time.

VinFast has also committed to investing nearly $2 billion in India over the next few years to strengthen its operations and expand its local footprint.

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**Tapan Ghosh’s Industry Experience**

Tapan Ghosh brings extensive automotive industry expertise to VinFast. Beginning his career with Hindustan Motors in 1995, Ghosh has worked with several major companies, including Honda Cars, Mahindra & Mahindra, Maruti Suzuki India, and Tata Motors. Since joining Hyundai in 2013, he has played a key role in driving sales growth.

His appointment as CEO is expected to add significant value to VinFast’s ambitions in India by leveraging his deep understanding of the local market.

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**VinFast’s Market Entry Strategy vs Tesla**

VinFast’s approach to entering India contrasts with Tesla’s. Tesla entered the Indian market in July with showrooms in Mumbai and Delhi but maintains limited operations and remote leadership.

VinFast, on the other hand, is focusing on local manufacturing and leadership, a strategy experts believe is vital for success in India’s competitive EV segment.

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**Challenges Ahead for VinFast in India**

While VinFast has surprised many by pricing its cars competitively alongside established Indian brands like Tata and Mahindra, gaining consumer trust remains a significant challenge.

According to Puneet Gupta from S&P Global Mobility, “Customers already have inhibitions about EVs, so an added uncertainty about a relatively unknown brand in the Indian market will not make things easy for VinFast.”

The appointment of a seasoned Indian automotive leader like Ghosh is seen as a critical step in overcoming these challenges and building confidence among Indian buyers.

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**Conclusion**

VinFast’s aggressive investment and localization efforts, combined with Tapan Ghosh’s leadership, mark a pivotal moment in the company’s journey to establish itself as a strong player in India’s rapidly evolving electric vehicle market.
https://www.newsbytesapp.com/news/auto/vinfast-to-appoint-hyundai-s-tapan-ghosh-as-india-ceo/story

FPIs pull ₹7,945cr from Indian equities, net outflows ₹1.4L crore

**FPIs Withdraw ₹7,945 Crore from Indian Equities; Net Outflows Cross ₹1.4 Lakh Crore in 2025**

*By Akash Pandey | Sep 21, 2025, 02:18 PM*

Foreign Portfolio Investors (FPIs) have pulled out ₹7,945 crore from Indian equities so far in September. This continued sell-off is largely driven by global uncertainties, including tariffs and ongoing geopolitical tensions.

The trend follows significant outflows seen in previous months, with FPIs withdrawing ₹34,990 crore in August and ₹17,700 crore in July. Overall, FPI sell-offs in Indian equities have reached a staggering ₹1.38 lakh crore in 2025, according to the latest data.

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### Looking Ahead: Signs of Moderation in Selling

Market experts are closely monitoring upcoming macroeconomic data from both India and the United States, along with tariff negotiations. These factors are poised to influence FPI flows in the near term.

Despite remaining net sellers in September with cumulative equity outflows of ₹7,945 crore through September 19, FPIs have displayed some moderation in their selling behavior recently.

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### Impact of the Fed’s Rate Cut on Market Liquidity

Following the US Federal Reserve’s decision to cut interest rates by 25 basis points, FPIs briefly turned net buyers last week, purchasing equities worth ₹900 crore during this period.

“For the current week, FPIs bought Indian equities worth ₹900 crore on the back of the Fed’s rate cut,” said Vaqarjaved Khan, Senior Fundamental Analyst at Religare Broking Ltd. He added that two more rate cuts are projected in 2025, which could significantly enhance liquidity in global markets.

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### Investor Sentiment Bolstered by Easing Trade Tensions

Himanshu Srivastava from Morningstar Investment Research India observed a “modest but noticeable return” of foreign investors to Indian equities last week. He attributed this shift to the Fed’s dovish stance, easing US-India trade frictions, and a stable macroeconomic outlook in India.

However, Srivastava cautioned that persistent global uncertainties and geopolitical risks continue to temper investor enthusiasm, keeping FPI flows cautious.

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### Market Strategy: FPIs Diversify into Debt Markets

V K Vijayakumar from Geojit Financial Services pointed out that the FPI selling trend in India has coincided with buying activity in other Asian markets such as Hong Kong, Taiwan, and South Korea. This strategy has been profitable this year but may evolve going forward.

Additionally, debt markets in India have seen FPI investment, with inflows of approximately ₹900 crore under the general limit and ₹1,100 crore through the voluntary retention route.

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**In summary, while FPIs continue to withdraw from Indian equities amid global uncertainties, recent developments such as the Fed’s rate cuts and easing trade tensions offer potential for stabilization and renewed foreign investment flows in the near future.**
https://www.newsbytesapp.com/news/business/fpis-pull-out-8-000cr-from-equities-in-september/story