Capital Account – A Camet http://acamet.org/ Fri, 21 Jan 2022 09:45:44 +0000 en-US hourly 1 https://wordpress.org/?v=5.8 https://acamet.org/wp-content/uploads/2021/04/a-camet-icon-150x150.png Capital Account – A Camet http://acamet.org/ 32 32 Explainer: Russia’s financial health amid a geopolitically driven market sell-off https://acamet.org/explainer-russias-financial-health-amid-a-geopolitically-driven-market-sell-off/ Fri, 21 Jan 2022 09:30:00 +0000 https://acamet.org/explainer-russias-financial-health-amid-a-geopolitically-driven-market-sell-off/

A sign bearing the logo of the Moscow Stock Exchange is displayed at its office in Moscow, Russia March 10, 2020. REUTERS/Shamil Zhumatov

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MOSCOW, Jan 21 (Reuters) – Russian assets are under pressure as investors worry about a possible extension of U.S. sanctions or new EU measures targeting officials, banks and the energy sector if Moscow attacks Ukraine – a move Russia denies planning.

The Russian stock market (.IMOEX) has lost around 20% since hitting record highs in October, the ruble has fallen to more than eight-month lows and benchmark Russian government bond yields OFZ 10-year bonds hit their highest level in almost six years in January. Read more

On Friday morning, Russian assets fell again, as markets await a meeting between US Secretary of State Antony Blinken and Russian Foreign Minister Sergei Lavrov in Geneva later in the day. Read more

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Despite the dangerous geopolitics, Russian officials say economic fundamentals are solid and the ruble’s volatility is temporary.

How healthy are Russian finances and what could the authorities do to calm the markets?

RUBLE

The central bank let the ruble float freely in 2014, after waves of Western sanctions followed Russia’s annexation of Crimea to Ukraine, and as it sought to protect gold and currencies.

Under a fiscal rule adopted in 2017 to bolster the National Wealth Fund (NWF), Russia buys foreign currency when oil prices are high and sells when prices fall below $44 a barrel, thereby protecting the ruble from oil price fluctuations.

In 2020, Russia was selling currency, which helped limit ruble losses amid falling oil prices, the COVID-19 pandemic and geopolitical risks.

“As oil and gas prices remain high, we believe the main driver of ruble depreciation is geopolitics,” not macroeconomic fundamentals, Sberbank CIB said.

CURRENT ACCOUNT AND CAPITAL OUTLETS

A historic Russian current account surplus of $120.3 billion, equal to 7% of gross domestic product and driven by high gas prices last year, is supportive of the ruble, ING said.

Still, net capital outflows widened to $72 billion last year, its highest level since 2014 and from $50.4 billion in 2020. “This keeps the local currency undervalued, making it makes it continuously favorable to the balance of trade,” ING added.

INFLATION

While supporting fiscal revenues, a weaker ruble is contributing to inflation, which hit 8.62% in annual terms this week, double the central bank’s target and near six-year highs.

“Given the high volatility in Russian financial markets in recent days, (the) possibility that the central bank will raise its key rate by 100 basis points increases,” Alfa Bank said, forecasting an eighth consecutive hike in February at 9, 5%.

RESERVES AND BUDGET

Russian gold and currency reserves are at an all-time high of more than $630 billion, enough to cover 25 months of imports or Russia’s total external debt of $490 billion, Renaissance Capital said.

Russia ran a budget surplus of nearly $7 billion last year, driven by energy prices and a weak rouble. The NWF’s liquid assets – funds in central bank accounts – reached $113.5 billion, or 7.3% of GDP.

“This can be used for budgeting purposes in times of stress,” Morgan Stanley said.

RUSSIAN OFZ BONDS, STOCK MARKETS

Foreign investors sold 214 billion rubles ($2.8 billion) worth of OFZ treasury bills in November-December, with the share of foreigners among OFZ holders falling by 1.1 percentage points to 19, 5% at the end of the year.

The central bank cannot buy OFZ directly from the market under current laws, but the Finance Ministry said Russian banks could step in and increase their holdings of domestic bonds. Read more

US investors account for about a third of foreign holdings of OFZ, less than the state-owned VTB (VTBR.MM), Russia’s second-largest bank, which has nearly 2 trillion rubles of OFZ in its portfolio. Read more

The Department of Finance canceled bond auctions this week amid high volatility. He says the strong fiscal position allows him to borrow less. Russia enjoys a debt level of 20% of GDP, lower than an average of 60% in emerging markets. Read more

The Russian stock market is 2.4 times cheaper than its emerging market counterparts and nearly 5 times cheaper than the S&P 500, Gazprombank said in a note. It has average dividend yields of 10% and could provide strong returns, with geopolitical escalation providing attractive prices, Gazprombank said.

“But the level of uncertainty is still high,” the bank said.

($1 = 76.7020 rubles)

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Reporting by Katya Golubkova additional reporting by Karin Strohecker in London; Editing by Frank Jack Daniel

Our standards: The Thomson Reuters Trust Principles.

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FoodTech Pluckk Platform Raises $5M in Seed Funding from Exponentia Ventures https://acamet.org/foodtech-pluckk-platform-raises-5m-in-seed-funding-from-exponentia-ventures/ Wed, 19 Jan 2022 08:27:46 +0000 https://acamet.org/foodtech-pluckk-platform-raises-5m-in-seed-funding-from-exponentia-ventures/

A fresh produce food tech company, Pluckk has raised US$5 million (about Rs 37 crore) in seed capital in a funding round from Exponentia Ventures, a fund focused on emerging business ideas in the B2C and B2B spaces, the company announced on Wednesday.

Founded in 2021 by Pratik Gupta, Pluckk aims to create India’s first digital commerce company to meet the growing demand for lifestyle-oriented fresh produce, he said.

The company’s proposition centers on global food trends ranging from vegan, carbohydrate alternatives, gut health, immunity to plant-based diets to prevent diabetes and mental health.

“This round of funding will be used to build the right team, technology, farm-to-fork infrastructure, customer acquisition and expansion in major metropolitan cities,” the company said in a statement. .

Part of this fund will also be used to acquire Indus Fresh – an existing player in the new FnV category serving both B2C and B2B customers like Flipkart, Amazon, Swiggy, Dunzo and Zepto, he said without giving details. details.

Pratik Gupta, CEO and Co-Founder of Pluckk, said, “The biggest consumer revolution we are witnessing today is that consumers not only want to enjoy eating, but are also paying more and more attention to what they eat. they eat. Pluckk aims to be the brand of choice by offering the widest range of lifestyle-focused fresh produce. agricultural practices to ensure residue-free and traceable products. ”With this new funding, Pluckk’s products and services will now also be made available to a wider set of consumers in key metropolitan cities such as Bangalore and Mumbai (new expansion plans in Gurugram, Pune, Hyderabad) on its direct-to-consumer (D2C) platform as well as through leading e-commerce platforms under its brand.

Regarding the company’s third investment, Exponentia Ventures Partner Alok Gupta said, “Our commitment continues to invest in ideas that connect to the emerging ecosystem. At Pluckk, we find an agile sales team focused on execution and leveraging deep customer insights that can scale to millions of customers. “The Indian online grocery market size is currently valued at $4 billion, growing at a compound annual growth rate (CAGR) of 37% and is expected to grow 10x to reach $40 billion in over the next seven years. Of the total grocery market, fruits and vegetables represent 15-20% of the market size, Pluckk aims to gain a higher single-digit share of this market over the next 3-5 years.

(This story has not been edited by the Devdiscourse team and is auto-generated from a syndicated feed.)

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India among most attractive destinations for global investors: RBI paper https://acamet.org/india-among-most-attractive-destinations-for-global-investors-rbi-paper/ Mon, 17 Jan 2022 16:35:00 +0000 https://acamet.org/india-among-most-attractive-destinations-for-global-investors-rbi-paper/

India has attracted larger FDI inflows and continues to be among the top attractive destinations for international investors, according to an article published in the Reserve Bank of India’s Monthly Bulletin January 2022.

The article was prepared by Sumit Roy, Department of Financial Inclusion and Development, Jolly Roy and Kamal Gupta, Department of Statistics and Information Management, Reserve Bank of India.

The opinions expressed in the article are those of the authors and not those of RBI.

“An analysis of recent trends in FDI flows globally and between regions/countries suggests that India has generally attracted higher FDI flows and continues to remain among the top attractive destinations for international investors, in accordance to its strong domestic economic performance and progressive FDI policy liberalization as part of the cautious process of capital account liberalization, the authors said.

The article states that Foreign Direct Investment (FDI) plays an important role in the economic development of any country and supports economic growth by meeting the investment needs of a capital-deficit economy by bridging its gap between the savings and investment.

Both developed and emerging economies have made considerable efforts to increase the information base on FDI, where valuation is an essential element.

In India, major progress has been made in this regard with the implementation of the Coordinated Direct Investment Survey (CDIS) of the International Monetary Fund (IMF) and the compilation of Foreign Affiliate Trade Statistics (FATS), did he declare.

The Census of Foreign Liabilities and Assets (FLA) of India, part of the global CDIS initiative, has been a major step towards estimating foreign investment and provides consistent annual data on FDI (equities and debts ) in face value as well as in market value. on the full enumeration, the article says.

Analysis of the FLA census results summarized interesting facets of the sectoral distribution of investments and associated performance (FAT statistics) for foreign affiliates.

Foreign trade had a substantial share in the activity where the intensity of imports in purchases remained higher than exports in sales for foreign subsidiaries.

“An empirical analysis of the factors influencing FDI inflows, looking at leading countries in terms of FDI stock position in India, shows that FDI inflows are strongly influenced by trade openness, outlook for economic growth, market size, cost of labor and the openness of the host country’s capital account,” the authors said.

(Only the title and image of this report may have been edited by Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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Baby Bunting Group (ASX:BBN) may struggle to allocate capital https://acamet.org/baby-bunting-group-asxbbn-may-struggle-to-allocate-capital/ Sat, 15 Jan 2022 22:49:21 +0000 https://acamet.org/baby-bunting-group-asxbbn-may-struggle-to-allocate-capital/

If we want to find a stock that could multiply over the long term, what are the underlying trends we should be looking for? In a perfect world, we would like to see a company invest more capital in their business and ideally the returns from that capital also increase. Simply put, these types of businesses are slot machines, meaning they continually reinvest their profits at ever-higher rates of return. That said, at a first glance at group of baby bunting (ASX:BBN) we’re not jumping off our chairs on the yield trend, but taking a closer look.

Understanding return on capital employed (ROCE)

For those unaware, ROCE is a measure of a company’s annual pre-tax profit (yield), relative to the capital employed in the business. Analysts use this formula to calculate it for Baby Bunting Group:

Return on Capital Employed = Earnings Before Interest and Tax (EBIT) ÷ (Total Assets – Current Liabilities)

0.12 = AU$26 million ÷ (AUD$301 million – AU$83 million) (Based on the last twelve months to June 2021).

So, Baby Bunting Group has a ROCE of 12%. In absolute terms, that’s a pretty standard return, but compared to the specialty retail industry average, it lags behind.

Check out our latest analysis for Baby Bunting Group

rock

In the chart above, we measured Baby Bunting Group’s past ROCE against its past performance, but the future is arguably more important. If you’re interested, you can check out analyst forecasts in our free analyst forecast report for the company.

The ROCE trend

On the surface, the ROCE trend at Baby Bunting Group does not inspire confidence. To be more specific, ROCE has fallen by 16% over the past five years. However, given that capital employed and revenue have both increased, it appears that the company is currently continuing to grow, following short-term returns. And if the capital increase generates additional returns, the company, and therefore the shareholders, will benefit in the long term.

The essentials on the ROCE of the Baby Bunting group

Even though capital returns have fallen in the short term, we think it’s promising that both revenue and capital employed have increased for Baby Bunting Group. And the stock has done incredibly well with a 160% return over the past five years, so long-term investors are no doubt pleased with this result. So if these growth trends continue, we would be optimistic about the stock going forward.

One more thing to note, we have identified 2 warning signs with Baby Bunting Group and understanding them should be part of your investment process.

If you want to look for strong companies with excellent earnings, check out this free list of companies with strong balance sheets and impressive returns on equity.

Feedback on this article? Concerned about content? Get in touch with us directly. You can also email the editorial team (at) Simplywallst.com.

This Simply Wall St article is general in nature. We provide commentary based on historical data and analyst forecasts only using unbiased methodology and our articles are not intended to be financial advice. It is not a recommendation to buy or sell stocks and does not take into account your objectives or financial situation. Our goal is to bring you targeted long-term analysis based on fundamental data. Note that our analysis may not take into account the latest announcements from price-sensitive companies or qualitative materials. Simply Wall St has no position in the stocks mentioned.

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Business News | Stock and Equity Market News | Financial News https://acamet.org/business-news-stock-and-equity-market-news-financial-news/ Fri, 14 Jan 2022 09:40:15 +0000 https://acamet.org/business-news-stock-and-equity-market-news-financial-news/














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