The National Stock Exchange advised foreign investors to not increase their long positions in bond futures as their overall holding in government debt had reached 92.82 percent of the allowed limit.

The country’s biggest stock exchange also said in the circular that foreign institutional investors can invest in bond futures only after their holdings in cash and futures comes below 85 percent of permissible limits.

The total holding limit for foreign investors is USD 30 billion, of which USD 10 billion is allocated to investors like foreign central banks, sovereign wealth funds, insurance funds and pension funds and the other USD 20 billion is open for all overseas investors.

Newly appointed Union power minister Piyush Goyal blamed the Congress and the Aam Aadmi Party for the long power cuts in Delhi. Addressing the press, Goyal informed NTPC has consented to supply additional gas to Banwana plant to generate 400 MW of additional power leading to restoration of Bawana-Rohini line by end of the day. He also informed GAIL too has been directed by the Union petroleum minister to supply additional gas for Delhi.

After the pre-Budget meeting with finance minister Arun Jaitley concluded, Uday Kotak, vice-chairman and managing director of Kotak Mahindra Bank said the new mantra now should be a move from ‘NREGA to karega’. He feels the government should list LIC, it can be a huge game changer for the Indian financial system.

“Life Insurance Corporation of India (LIC) may be kept at minimum 51 percent government holding, but the government can consider listing LIC and the kind of money the government can raise by listing LIC is significant,” Kotak adds. He believes it can fund all the needs of public sector banks as well as the fiscal deficit. He adds this idea need not necessarily be in the July Budget, but over the next few years listing of LIC could be a major game changer for the Indian financial sector. He says the government should also reduce its stake in State Bank of India .

Investors continued to buy shares of midcap IT company MindTree after the company in analyst meet says it expects USD revenue growth in FY15 to remain stronger than last year. Brokerage house Morgan Stanley, which attended the analyst meet, expects its earnings growth to drive stock price over next 12 months. However, its key risks include rupee appreciation, which could limit any material earnings upgrades.

“After a 19 percent rise from the trough level of May 19 (the Sensex is up 5 percent), its F15e P/E is now 12.5x. Overall, its deal pipeline is up 60 percent Y-o-Y and win rates have improved over the last 12 months,” it says in its note. Citi maintains buy on the stock. “We continue to like MindTree given strong business momentum; expect growth to sustain backed by continued investments in the business and reassuring commentary by management,” it says.