DIIs shun equities in October, outflow at $2.4 bn

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Mumbai, Nov 6 | Although foreign institutional investments surged last month, domestic institutional investors (DII) pulled out their money from the Indian equities with DII outflows in October at $2.4 billion.

A report by Motilal Oswal Institutional Equities said that the DII outflow in October was the highest since March 2016.

FII inflows in October stood at $2.5 billion.

The report also said that the Nifty 50’s market capitalisation is at an all-time high. However, the Nifty Mid-cap 100’s market cap is still down 24 per cent from its peak, although it is above Dec 2019 level.

Further, as per the report, in the past month, companies where Covid impact on business model was low have outperformed the ones where Covid impact was higher.

It noted that corporate commentary is positive on demand recovery with discretionary demand seeing an uptick during the festive season. Leverage and cash-flows have also seen material improvement in the first half of FY21 against the first half of FY20.

Source: IANS

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Global Strategist and Philanthropist Drummi Bhatt returns to her homeland to bring about a vernacular infotainment content revolution

Global Strategist and Philanthropist Drummi Bhatt returns to her homeland to bring about a vernacular infotainment content revolution

Drummi Bhatt has successfully donned many hats including that of a global strategy professional, mentor, and investor to early-stage startups encouraging women entrepreneurship, and a philanthropist.

Drummi currently leads Market Intelligence and Strategy team at Mitsubishi Power, USA building corporate-level strategies for global markets. Drummi is also the founder of KarmaKonnect, a Woman and Rural Empowerment Non-Profit Organisation which works for projects in remote rural, tribal, and conflict areas.

Her philanthropy work has taken her to various corners of India, including, far end corners of Leh, Ladakh, Telangana, and remote areas of Chambal. During these visits, she got mesmerized by culturally rich, vernacular, and diverse, the true “Bharat”.

During her interaction across the country, she got enchanted by the whirlwind of talent residing across Bharat, which is not restricted to a language, city, or just tier-1 cities but is found in abundance all across tier-2, tier-3 cities, and rural-tribal clusters.

With OTT platforms ruling the world in 2020, Drummi decided to bring her strategic insights and data analytics strength to this field by joining hands with seasoned entrepreneurs, Rahul Narvekar and Narendra Firodia, to launch its kind, vernacular OTT platform, Letsflix.

In 2019, Drummi, Rahul, and Narendra have successfully launched India’s first vernacular infotainment app, LetsUp, which now caters to 1.5 million users and in 7 vernacular languages, a feat achieved by none. The trio has now been passionately working towards creating and delivering vernacular content for every viewer in India with Letsflix.

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