Chinese Dragon Ready to Take over Indian Quality Asset Companies?

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Mumbai Ta 13 April 2020, Monday

As the world coronary epidemic has worsened, the Chinese dragons responsible for the epidemic have died in their hometown of Wuhan, with thousands of people dying at the beginning of the epidemic, and China's foreign assets in the global markets, with the value of assets of Chinese companies overseas after China's assets were occupied. Beginning to acquire quality assets Is going to get a signal.

Housing Finance Giant Housing Development Finance Corporation (HDFC Ltd.) increased its holdings in Housing Finance Giant Housing Development Finance Corporation (HDFC Limited) by 9% in the first quarter, with the Central Bank of China speaking in Indian stock markets in the month of March. Along with this, HDFC Ltd has a holding of 1 lakh shares in China Bank. Thus, People's Bank of China has an opportunity to buy luxury-quality assets worldwide. At present, China's asset manager in Indian companies besides HDFC Limited is holding in China International Fund Management-owned Reliance Industries, Larsen & Toubro, ITC, Infosys and Indian Oil Corporation.

It is worth mentioning that HDFC Ltd's holdings of People's Bank of China, which stood at 8.5 percent in March 3, have risen to 8.7 percent at the end of March 1. HDFC Limited Chairman Deepak Parekh said the purchase was made on behalf of China's Sovereign Wealth Fund through People's Bank of China.

It is important to inform them that their holding in the company crosses the 1% level. "Currently, the People's Bank of China is an investor in HDFC," said Kiki Mistry, Vice-Chairman and Chief Executive Officer of HDFC Limited. Its holding was 8.5 percent in March 2 and has now risen to more than one percent in March 3.

Sources, meanwhile, said that shares of other local companies may be bought by Chinese funds in the quarter of March 3, although the shareholding of the fund is less than one percent, unless the company's share holding pattern is displayed. Chinese Sovereign Wealth Fund China Investment Corporation invested up to one million dollars in various assets at the end of Year 1.

According to sources, People's Bank of China may have bought shares of HDFC Limited by 5% in March this year, following a massive sell-off in stocks in Indian stock exchanges with global markets in March. Holdings of Foreign Portfolio Investors (FPIs) in HDFC Limited, which was down from 9.7 percent in December 1, have declined to 8.7 percent at the end of March 1. HDFC Limited is a holding company with group companies HDFC Bank, HDFC Mutual Fund and HDFC Life Insurance.

In addition to People's Bank of China, holding FDI investors in HDFC Ltd. Vanguard has 8.5%, Invesco has 5.7%, Government of Singapore has 5.7%, BlackRock has 8.2%, Openhammer has 1.7%. The holding is 5.4 percent, while the Abu Dhabi government is holding 5.7 percent.

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