``The company decided to take this step as a result of the prevailing adverse market sentiments, fuelled by renewed indications of a U.S. recession and global meltdown,'' Emaar MGF said in a statement after withdrawing its IPO.
"We were not getting a rational decision and attention from investors. It was best to withdraw the issue at this stage," Vallabh Bhansali of Enam Securities, a banker to the Emaar issue
``There was some correlation between the stock market and real estate, so to that extent the correction in stock markets would prompt a correction in real estate also,'' said Shroff of SBI Funds Management.
``The Indian mindset is changing,'' said A. Balasubramaniam, chief investment officer at Birla Sun Life Asset Management Co., which manages $8.1 billion in assets in Mumbai. ``Owning equity assets has become part of their investment strategy from earlier just putting the money into the bank.''
``Lower assets under management compared to our competitors is a mathematical fact but the opportunity in India is a 30-year to 40-year one as the penetration is very, very low, Morgan Stanley's Ramachandran said. ``We expect the mutual fund industry not to just double or triple but rise by a factor of ten.''
``Inflows may be inconsistent in the near term, and going further may slow significantly,'' said Vikas Babu, a trader at state-owned Andhra Bank in Mumbai. ``This is making the rupee reel under pressure and it may decline.''
``We clearly want to move into a much stronger system of public transport in order to avoid excessive dependence on individualized forms of transport, which are both energy using and emission generating,'' Montek Singh Ahluwalia, one of the government's top advisers, said in New Delhi today.
"We are just one day away from the worst (for the market) to end," said Angel Broking's Lalit Thakkar, referring to the listing of Reliance Power on Monday.
"We are seeing selling at higher levels, but the corresponding buying is not happening at lower levels," said R.K. Gupta, chief executive at Taurus Mutual Fund.
"We were not getting a rational decision and attention from investors. It was best to withdraw the issue at this stage," Vallabh Bhansali of Enam Securities, a banker to the Emaar issue
``There was some correlation between the stock market and real estate, so to that extent the correction in stock markets would prompt a correction in real estate also,'' said Shroff of SBI Funds Management.
``The Indian mindset is changing,'' said A. Balasubramaniam, chief investment officer at Birla Sun Life Asset Management Co., which manages $8.1 billion in assets in Mumbai. ``Owning equity assets has become part of their investment strategy from earlier just putting the money into the bank.''
``Lower assets under management compared to our competitors is a mathematical fact but the opportunity in India is a 30-year to 40-year one as the penetration is very, very low, Morgan Stanley's Ramachandran said. ``We expect the mutual fund industry not to just double or triple but rise by a factor of ten.''
``Inflows may be inconsistent in the near term, and going further may slow significantly,'' said Vikas Babu, a trader at state-owned Andhra Bank in Mumbai. ``This is making the rupee reel under pressure and it may decline.''
``We clearly want to move into a much stronger system of public transport in order to avoid excessive dependence on individualized forms of transport, which are both energy using and emission generating,'' Montek Singh Ahluwalia, one of the government's top advisers, said in New Delhi today.
"We are just one day away from the worst (for the market) to end," said Angel Broking's Lalit Thakkar, referring to the listing of Reliance Power on Monday.
"We are seeing selling at higher levels, but the corresponding buying is not happening at lower levels," said R.K. Gupta, chief executive at Taurus Mutual Fund.
"The last few months have seen muted sales and the trend may continue unless new vehicles are introduced and finance issues are tackled," Dilip Chenoy, SIAM's director general, said.
"The lack of newer models (from Tata Motors) to replace the (compact) Indica and the Indigo (sedan) is hurting sales," investment bank Kotak Securities said in a note to clients.
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