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India-Canada tension: Share Market Impact

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Benevolent
flash007

  • Stocks like Kotak, SBI Life, PayTM, Zomato all become primary candidates for a fall
  • Shares of Kotak Mahindra Bank Ltd, Zomato, Paytm and other companies with significant investments from Canada Pension Plan Investment Board (CPPIB) declined as the fresh tensions between India-Canada relationship escalated.

Canada Pension Plan Investment Board is the largest pension manager in Canada and has significant holdings in some of the Indian companies. CPPIB disclosed an investment of $21 billion ( ₹1.74 lakh crore) in India about a year ago.

Its major holdings in the Indian stock market include a 2.68% stake in private sector lender Kotak Mahindra Bank and stakes in approximately 70 other Indian publicly traded firms. Kotak Mahindra Bank shares were trading 1.82% lower at ₹1,757.55 apiece on the BSE.

CPPIB also holds over 20.35 crore equity shares of Zomato aggregating to a 2.37% stake in online food delivery aggregator, as of June 2023. Zomato shares were trading 0.75% lower at ₹99.21.

The Canadian fund held 4.38 crore Delhivery shares, which aggregates to 6% shareholding in the company. Delhivery share price was down 0.17% at ₹429.70.

Additionally, CPPIB holds 2.18% stake in Indus Towers, 1.76% stake in One 97 Communications, the parent company of fintech giant Paytm and a stake of 1.47% in FSN E-Commerce Ventures, the parent company of Nykaa.

Indus Towers shares declined 1.71% to ₹178.65, Paytm shares fell 1.28% to ₹842.20, while Nykaa share price was trading 2.47% lower at ₹141.95 apiece on the BSE.

As tensions between Canada and India continue to rise, Jayden Ong, Senior Market Analyst, APAC, Vantage believes the Indian market will be indirectly affected

“Canadian pension funds such as CPPIB and CDPQ are the largest institutional investors in companies and projects in industries such as energy, infrastructure, and banking in India. Currently, India's economic system continues to expand, with GDP rising to 7.8%, and the Purchasing Managers Index also rising to 58.6. It is expected that the Indian market will continue to be active and will not be affected by this information," said Ong.

India-Canada relations hit rock bottom after Canada on Monday expelled a top Indian diplomat as it investigates what Prime Minister Justin Trudeau called credible allegations that the Indian government may have had links to the assassination in Canada of a Khalistani terrorist, Hardeep Singh Nijjar.

India also instructed a senior Canadian diplomat to leave the nation in five days.

Amid the ongoing row, Sukhdool aka Sukhu Duneke was killed in inter-gang violence in Canada on Wednesday night. He was a part of the Khalistan movement in Canada.

Meanwhile, the Indian stock market indices crashed for the second day in a row following weak global cues. The Sensex was down 551.35 points, or 0.83%, at 66,249.49, while the Nifty 50 declined 156.25 points, or 0.79%, to 19,745.15.

Source: https://www.livemint.com/market/stock-market-ne...

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Top Comments
Perfectionist Perfectionist
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Supporting terrorists by the Canadian Government led to  such offensive defensive reaction from Government of India.

Deal Subedar Deal Subedar
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kartikxxx wrote:

This thread belongs to finance or ps section?

Every sutram (thread) belongs to the sutradhari.

Untitled

Hunk Hunk
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Don't worry guys. Just another chance to take some good shares. Market needed a much needed break. 

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Benevolent Benevolent
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I think this could be an opportune moment to invest if the stock prices decline.

Perfectionist Perfectionist
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Supporting terrorists by the Canadian Government led to  such offensive defensive reaction from Government of India.

Perfectionist Perfectionist
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quantum wrote:

Supporting terrorists by the Canadian Government led to  such offensive defensive reaction from Government of India.

Trudeau loses the best Canadian PM according to the weekly survey held there due to his bad decision
Pro Shopping Friend Pro Shopping Friend
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quantum wrote:
Trudeau loses the best Canadian PM according to the weekly survey held there due to his bad decision

This thread belongs to finance or ps section?

Perfectionist Perfectionist
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kartikxxx wrote:

This thread belongs to finance or ps section?

This thread was posted in Dost and Dimes

and the above quotation are just facts (not any views) also, first comment is the stand of GOI. Nothing to be poltical. It's Diplomatic Relationships which is deteriorated.

Benevolent Benevolent
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Setting aside political talk, I feel that the stock market will be affected or directly influenced by this.

Deal Subedar Deal Subedar
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kartikxxx wrote:

This thread belongs to finance or ps section?

Every sutram (thread) belongs to the sutradhari.

Untitled

Perfectionist Perfectionist
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flash007 wrote:

Setting aside political talk, I feel that the stock market will be affected or directly influenced by this.

Yes, every decision on this will make the boat uncomfortable and shaky. Canada is part of Five Eyes, that's negative news in Indian Market till any bold statement doesn't come in support.
Pro Community Angel Pro Community Angel
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Gir jaye to achcha hai, no chances though.

2-4% to aam baat hai 

Very small issue for share market. Recent fall is more attributable to US fed. 

Benevolent Benevolent
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androgame wrote:

Gir jaye to achcha hai, no chances though.

2-4% to aam baat hai 

Very small issue for share market. Recent fall is more attributable to US fed. 

I think it might be more than just 2-4%, and we could see the stock prices dropping continuously for 2-4 days.
Pro Community Angel Pro Community Angel
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flash007 wrote:
I think it might be more than just 2-4%, and we could see the stock prices dropping continuously for 2-4 days.

Might happen, but shouldn't be going below 19k.

Never say never though. 


Benevolent Benevolent
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androgame wrote:

Might happen, but shouldn't be going below 19k.

Never say never though. 


With so much selling by domestic and foreign investors, I think there's a good chance it might drop below 19,000 in the next month, even if it's just for a short while.
Benevolent Benevolent
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quantum wrote:
Trudeau loses the best Canadian PM according to the weekly survey held there due to his bad decision
High chances the biggest terrorist jagmeet will become pm then
Benevolent Benevolent
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quantum wrote:
Yes, every decision on this will make the boat uncomfortable and shaky. Canada is part of Five Eyes, that's negative news in Indian Market till any bold statement doesn't come in support.
They tracked pur diplomats recordings through bugs and iphones, that's nsa for you
Benevolent Benevolent
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androgame wrote:

Gir jaye to achcha hai, no chances though.

2-4% to aam baat hai 

Very small issue for share market. Recent fall is more attributable to US fed. 

Nifty 8000 pe lao to maane
Deal Subedar Deal Subedar
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Now, only Indo-Canadian p*n star can bring peace between these 2 countries.

Benevolent Benevolent
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flash007 wrote:
harshad mehta scam 2.0 is required for that.
Even "aj raat 8 baje se India Russia se sab relation tod raha" can do this
Benevolent Benevolent
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kukdookoo wrote:
Even "aj raat 8 baje se India Russia se sab relation tod raha" can do this
what about USA instead of Russia?
Pro Tech Guru Pro Tech Guru
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Someone will tag this as  political 😅

Benevolent Benevolent
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Original wrote:

Someone will tag this as  political 😅

this is not at all political bro.
Benevolent Benevolent
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Original wrote:

Someone will tag this as  political 😅

Explain more about that someone
Benevolent Benevolent
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flash007 wrote:
what about USA instead of Russia?
USA is good but Russia ki baat hi kuch aur ha
Pro Tech Guru Pro Tech Guru
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flash007 wrote:
this is not at all political bro.

My similar thread was deleted few days back 😅

Benevolent Benevolent
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Original wrote:

My similar thread was deleted few days back 😅

then keep the discussion of this thread in scope of stock market only.
Helpful Helpful
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I dont see any impact on market yet.


Helpful Helpful
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kukdookoo wrote:
They tracked pur diplomats recordings through bugs and iphones, that's nsa for you
That canadian was declared terrorist as per uapa act in india.
Even if our govt was involved in his death somehow, canadians could have silently dealt with it & kept the relations.
Why to openly disclose such information without solid evidence and kill the bilateral relations?
Pro Community Angel Pro Community Angel
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b4tm4n wrote:
That canadian was declared terrorist as per uapa act in india.
Even if our govt was involved in his death somehow, canadians could have silently dealt with it & kept the relations.
Why to openly disclose such information without solid evidence and kill the bilateral relations?

They would be having some evidence surely.

But won't be incriminating, I don't doubt RAW's capabilities. Also, this isn't a high profile target in any manner. 

If it would have been dealt silently, Trudeau would have been kicked by NDP. 

These people haven't seen terrorism first hand (except for so-called "war on terror" which was on a foreign land), that's why behaving like this. 

Benevolent Benevolent
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b4tm4n wrote:
That canadian was declared terrorist as per uapa act in india.
Even if our govt was involved in his death somehow, canadians could have silently dealt with it & kept the relations.
Why to openly disclose such information without solid evidence and kill the bilateral relations?
They have solid evidence but they wont share it. Google cia proofs for khassogi murder. They had mbs's phone recordings. Also google soviet union portrait with recorder in american embassy. Nowadays everything is being stored by them. They also have access to apple.
The only reason why they are barking is because canada is a "developed" country and like america's little b. Also they are part of 5,6 and so on eyes. Tbh we fcked up. I can bet my life that the babus in Indian embassy were boasting about this on normal whatsapp without even knowing that they are being watched. Now eliminating pannu is next to impossible. Also that bkl has hired 4 bodyguards, who have had combat experience in the past. Raw could have been Mossad if it was not for these babus.
They knew about this since the start but since India didnt oppose of brics's expansion and the fact that we didnt condemn Russia at g20, also we didnt invite zelensky here like they wanted so its their retribution now, this is my theory based on the little what i know.
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