Russia should hike value-added tax by four percent to 22 percent and lower social security contributions, the International Monetary Fund has proposed.

The BRICS countries – Brazil, China, Russia, India, and South Africa – closed out a recent summit with an agreement on supporting one another, and developing nations, with tackling tax evasion and plugging opportunities for tax avoidance.

The governments of Japan and Russia signed a new convention on the elimination of double taxation on September 7.

The European Commission has announced the imposition of new anti-dumping duties on imports of hot rolled flat steel products from four countries.

The use of technology by business and government in tax compliance is driving continued simplification and reduction in the burden of tax compliance on businesses, says Paying Taxes 2018, a report by The World Bank Group and PwC.

Russia's Energy Ministry has announced that changes to the tax treatment of the oil industry will take place, but potentially not until 2019.

New EU trade defence legislation entered into force on December 20, changing the way the EU deals with dumped and subsidized imports.

Legislation has been tabled in Russia's lower house of parliament, the Duma, to introduce a two-rate personal income tax regime, in place of the current flat tax regime.

The OECD has published new transfer pricing country profiles for Australia, China, Estonia, France, Georgia, Hungary, India, Israel, Liechtenstein, Norway, Poland, Portugal, Sweden, and Uruguay, bringing the number of such overviews published by the OECD to 44.

The Swiss Federal Tax Administration has confirmed that it has transmitted its first spontaneous information reports on advance tax rulings to exchange of information partner states.

The Russian Government is reportedly considering the introduction of a number of new taxes, including a tax on hotel stays.

In a letter dated August 8, 2019, the Russian Federal Tax Service amended the rules for non-resident holding companies to be considered as the beneficial owner of Russia-sourced income.

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A former defense and trade minister, Nirmala Sitharaman became the first woman finance minister of India after Indira Gandhi.

She has inherited an economy facing a number of risks.

She faces immense challenges as finance minister. India's economy is starting to splutter on the back of a slow-down in consumption and private investment.

Fixing this and jump-starting the economy are the first order of business.

The data released on Friday was disappointing at different levels.

Lower growth in GDP, stagnant growth in core sector in April 2019, and the government just about managing the 3.4% deficit number in FY19 pose puzzles for the new Cabinet which assumes responsibility of kick-starting the economy.

A look at key macroeconomic indicators presents a gloomy picture.

Sinking GDP Growth Means FM Nirmala Sitharaman has to Push for Sweeping Reforms

According to the data released by the Central Statistics Office on Friday, gross domestic product (GDP) grew by only 5.8% in the last quarter of financial year 2019 (FY19), between January and March.

GDP Growth Slips to 5-Year Low

The data demonstrates GDP growth slowing steadily, from 8 to 7 to 6.6% in the first three quarters of FY19.

The signs of slowdown are visible throughout the economy.

Growth of Core Sector Industries Remained Flat

India's core economy grew at 4.3% in FY19, its second slowest pace in the past 5 years, down from 4.9% in FY15, according to latest data by the ministry of commerce and industry.

The 8 core industries include Coal, Crude Oil, Natural Gas, Refinery, Fertilisers, Steel, Cement, and Electricity.

8 Core Sectors Report Flat Growth in FY19

The growth rate is also flat since fiscal FY18 which had also recorded a 4.3% growth.

Manufacturing and Services Sector Activity Decelerates

Core sector growth will have a direct impact on the Index of Industrial Production (IIP) as these sectors account for a major chunk of total factory output.

Worries Rise as Factory Output Shrinks in March

The Index of Industrial Production (IIP) and the Manufacturing Purchasing Managers' Index (PMI) are used to gauge the level of activity in the manufacturing sector.

What Does the PMI Say?

The country's manufacturing sector performance fell to an eight-month low in April as new business growth moderated, curbed by the elections and a challenging economic environment.

The Nikkei India Manufacturing Purchasing Managers' Index declined from 52.6 in March to 51.8 in April, reflecting weakest improvement in business conditions since August 2018.

However, this was the 21st consecutive month that the manufacturing PMI remained above the 50-point mark.

In PMI parlance, a number above 50 means expansion, while a score below that denotes contraction.

The April PMI data indicated a softer increase in new orders had restricted growth of output, employment, and business sentiment.

Further, the Indian service sector lost momentum in April, with rates of new business and output growth both cooling to seven-month lows.

Indian Service Sector Loses Momentum Too

Falling from 52.0 in March to 51.0 at the start of FY19, the seasonally adjusted Nikkei India Services Business Activity Index pointed to the weakest upturn in output since last September.

Besides these, there are many other indicators of a slowdown.

A decline in consumer demand, a slowdown in government spending, and weak private investment have likely impacted India's growth in the fourth quarter.

One such high frequency indicator is automobile sales.

What do these numbers indicate?

Vehicle sales are a very important economic indicator about how the people of India feel about their economic prospects.

After all, no one is forcing anyone to buy a car and given that if a consumer buys a car, he chooses to make a down payment and/or take on an EMI.

This is only possible if the consumer is feeling positive about his future economic prospects.

Automobile Sales Skid as Demand Remains Sluggish

On Saturday, India's largest carmaker, Maruti Suzuki, reported a 22% decline in sales in May, the lowest in seven years.

Other auto-makers such as Tata Motors, Eicher Motors, and Hero Moto Corp reported declines in sales too.

All these economic indicators basically provide evidence of the Indian economy slowing down further since January 2019.

Another major area that needs immediate attention by the government, is job creation.

According to a CMIE survey, the unemployment number stands at 41 million people. That is too big a number to be ignored.

Now, job creation at such a mass level won't be a walk in the park. To set the wheels in motion, the government will have to look at infrastructure spending.

Capacity expansion in new projects has seen a gradual slowdown in the past few years.

Infra Capacity Expansion Likely to Be the Key Focus of the Modi Government

From Rs 3.3 trillion in June 2018, the number has come down sharply to Rs 2.1 trillion as of March 2019.

Co-head of research, Tanushree Banerjee believes this is first area the government will look to focus on.

Apart from creating jobs in the infrastructure sector, it opens a lot of other avenues.

Here's an excerpt of what she wrote in The 5Minute WrapUp:

• Better infrastructure will mean better connectivity to non-metros. This will attract manufacturing companies to set shop in these towns. It will give a boost to the urbanisation of the population.
  
  This is a trend I see clearly playing out in the coming years.
  
  Infrastructure spending -> Improved roads -> Increased two-wheeler sales.
  
  It is just one of the 50 irreversible trends I believe will carry the Sensex to 1,00,000.

Typically, when the capacity utilisation rises, it prompts companies to expand their capacities. If this gradual pick-up sustains, it could lead to a pick-up in private sector investment.

Thus, a revival in the investment cycle could be underway despite the current economic slowdown.

And, as far as equity markets are concerned, participants were expecting a weak fourth quarter growth data.

As such, the now published data may not weigh on the market but will raise expectations from the government and the RBI.

The pressure points in the form of finance, tax rates, infra expenditure, specific sector-related policies etc, must be addressed.

While the weak GDP data will be an important input for the Union Budget.

Most investors are now keen to know what's in store in the first week of July.

Warm regards,
Rini Mehta

Indian stock markets collapsed in early trade today...and while there was some recovery towards the end, we still ended deep in the red.

Here are 10 points to note...

1. The Sensex nosedived as much as 1,460 points in the first few minutes of trade. The Nifty dropped to a low of 10,827, down 442 points intra-day. The markets however trimmed some of the losses during the course of the day.

   There was a selloff across sectors along with panic selling in the smaller indices too. The BSE Midcap and BSE Smallcap indices ended down 3.4% and 2.9% respectively.

2. The Reserve Bank of India's (RBI) decision to put Yes Bank under moratorium led to the biggest ever fall in share price of the private lender. Shares of Yes Bank fell as much as 85% to Rs 5.6 before recovering towards the end of the day to end at Rs 16.2, down 56%.

   The banking regulator has also put a cap on withdrawal at Rs 50,000 for Yes Bank customers.

   The RBI took over from the board of the Yes Bank for 30 days, saying it would work on a revival plan.

3. RBI's move had a ripple effect on other banking stocks, with some falling very sharply to begin with.

   Shares of RBL Bank fell as much as 15%, while IndusInd Bank and State Bank of India (SBI) dropped 7-8%.

4. The coronavirus cases outside of China have been increasing rapidly, making inroads into US, Europe and Middle East, which made investors more worried about global growth going ahead. And more recently, India too.

   Today, the number of cases breached the 100,000 mark.

   South Korea, Italy and Iran reported highest infected cases outside of China, while cases are increasing in United States and other parts of Europe as well.

   Note that market participants are seen taking a flight to safety as stock markets see a sharp fall post the coronavirus impact.

5. Overnight the US indices had recorded sharp losses. This was yet another negative cue awaiting Indian markets on open today.

   The Dow Jones Industrial Average fell 3.6%, while the S&P 500 lost 3.4%. The Nasdaq Composite dropped 3.1%.

   During the day, as the Asian markets opened, there was further negative news... Japan's Nikkei fell more than 3%, while Hong Kong's Hang Seng, Australia's ASX 200 and South Korea's Kospi dropped over 2%.

6. Foreign investors (FIIs) are on a selling spree. Reportedly, in the last 14 sessions, FIIs have withdrawn a net Rs 183.4 billion from Indian markets. That's a lot of money...a lot more than the domestic mutual funds have been able to pump in. The intense selling pressure from the FIIs could only have contributed to this sell off.

7. The Indian rupee today slid past 74 levels against the US dollar, increasing the risk-off sentiment.

   The rupee today traded in a range of 73.69 to 74.08 against the US dollar as compared to the previous close of 73.31. A falling currency is not great news at all.

8. Even as there was negative news all around, hope emerged from oil. Oil slid on Friday as worries about demand for fuel being reduced by the global coronavirus outbreak were heightened. The fact that there was concern over non-OPEC (Organization of the Petroleum Exporting Countries) crude producers not yet having agreed to cut output further to support prices helped in the sell off.
9. With today's fall the Index has lost 9% since the start of 2020.
10. While the day ended deep in the red, some stocks stood out. Bajaj Auto, Maruti Suzuki and Asian Paints were among the few gainers.

In under 3 years, Yes Bank has gone from being a darling of investors to a pariah. Here's a look at the events that led to the crisis in 10 points.

1. 2017: RBI forces Yes Bank to disclose that there is big divergence in its non-performing loans of Rs 42 billion reported in the company's audited accounts for the year ended March 2016. The divergence further widened to almost Rs 64 billion a year later. To put this in perspective, the RBI audit had pegged its total gross non-performing assets (NPAs) at 5% for FY16, against the bank's own assessment of only 0.8% for the same year.
2. September 19, 2018: Not surprisingly, a year later, RBI refuses to give Yes Bank CEO Rana Kapoor an extension to his term as MD. The apex bank asks Kapoor to step down by end of January 2019. Kapoor fights back...but it always seemed like a battle he was set to lose.
3. November 27, 2018: Rating agency Moody's cuts bank's rating outlook to 'negative' from 'stable' citing concerns over corporate governance. This is a big whammy...for a bank, its credit rating is everything.
4. January 24, 2019: Yes Bank hires the head of Deutsche Bank India, Ravneet Gill, as its new CEO. There's hope...even though Gill has not run a bank of this size before. The stock price rallies 66% in the days following the appointment.
5. May 14, 2019: RBI appoints former central bank Deputy Governor R. Gandhi as additional director to Yes Bank's board - a rare move signaling an increased level of scrutiny on the lender.
   
   Yes Bank reports 91% drop in profit in 1QFY20, provisions surge and gross NPA ratio stands at 5%.
6. October 3, 2019: CEO Gill says bank is in talks with private equity firms, strategic investors and family offices to raise additional capital. Again, this appears to be good news.
7. October 31, 2019: Yes Bank gets binding investment offer of US$ 1.2 billion from a global investor. But this does not go down well as credibility of the likely largest investor is questioned in the media.
8. November 1, 2019: Yes Bank reports bigger-than-expected loss for 2QFY20, NPA to loans ratio swells to 7.4% and provisions swell to Rs 13.4 billion.
9. March 6, 2020: It's been months now and there is little progress on capital raising (other than rumours floating around). RBI takes over Yes Bank's board and imposes a month-long moratorium, imposing a limit of Rs 50,000 on withdrawals.
10. March 7, 2020: Stock price of Yes Bank crashes by nearly 60%. At it's worse the stock was down at Rs 5.7 that day. RBI shares a restructuring plan for Yes Bank...basically a bailout by SBI.

Well, then...that's the Yes Bank timeline. At the time of writing, stock price of Yes Bank was trading up by 31%.

Next time, when you think of buying a banking share...or making a deposit...be sure you understand the risk.

Crude oil prices crashed more than 30% on Monday.

In fact, this was the worst price dip since the 1991 Gulf War as Brent prices plunged to US$ 31 per barrel.

Here are 10 key things you need to know about the economics of falling crude oil prices:

1. Oil prices have collapsed thrice because of demand destruction: in 1979, 2008, and 2014.

   1979: The trigger for oil price increase was the Iranian Revolution and the Iran-Iraq war. Due to this, oil prices rose from US$ 50/barrel to above US$ 100/barrel between January 1979 and April 1981. Then, new production from the North Sea, Mexico, Alaska, and Siberia flooded the market. By March 1986, prices had fallen to US$ 27/barrel.

   2008: Oil touched US$ 150/barrel and was quickly followed by the financial crisis and recession which led to crash in crude oil prices as well.

   2011-2014: Oil was above of US$ 100/barrel, several years of triple-digit oil prices led to a near doubling of shale production in the US, a volume that helped trigger the crash in 2014.

2. 2016: Saudi Arabia and Russia came together to form the so-called OPEC+ alliance after oil prices plunged to US$ 30 a barrel. Since then, the two leading exporters have orchestrated supply cuts of 2.1 million barrels per day.
3. 2019: Prices went on to witness huge volatility in 2019 amid declines in US inventories and rising geopolitical tensions in the Middle East and the world's two biggest oil consumers - United States and China.
4. July 2019: The OPEC and allies sat to discuss whether to extend a deal on cutting 1.2 million barrels per day of oil production. Owing to the above geopolitical tensions, weaker demand outlook, and oversupplied market, the OPEC and allies rolled over their production cuts into March 2020. Volatility intensified further in July after US oil producers in the Gulf of Mexico cut more than half their output in the face of a tropical storm and as tensions continued in the Middle East.
5. March 2020: Saudi Arabia wants to increase the cuts to 3.6 million barrels per day through 2020 to check the weaker consumption. However, Russian President Vladimir Putin, refused to go along with the plan and his energy minister, Alexander Novak signaled a fierce battle to come for market share when he said countries could produce as much as they please from April 1.
6. 9^th March 2020: Crude oil prices fell 31% on Monday after Saudi Arabia launched an oil price war with Russia. Saudi Arabia slashed prices and said it is preparing for a big increase in crude oil production in April. Prices were cut by US$ 4-6 a barrel to Asia and US$ 7 to the United States for April delivery. Saudi Arabia reportedly prepares to increase its crude production above 10 million barrels per day (bpd) in April, after the current deal to curb production expires at the end of March. A major reason for these production cuts is also to arrest the swooning oil prices owing to the novel Coronavirus outbreak.
7. Worse than the Previous Crashes: The current situation is more worse than the November 2014 crash, when such a price war was started, as it comes to a head with the significant collapse in oil demand due to the Coronavirus outbreak. It also reflects the deep underlying concern of a lack of consensus among the OPEC nations regarding production cuts.
8. Impact on Indian Economy: The drop in crude oil price bodes well for India as it imports more than 80% of its oil requirements, with nearly 60% of them imported from the Middle East. Since oil imports form a large chunk of India's imports, it contributes to the country's trade deficit and a fall in prices will trim this deficit. Savings on oil imports could also arrest rising inflation and facilitate the next round of rate cuts by the Reserve Bank of India (RBI).
9. Industries to Benefit: On an industrial level, the price cut will have a beneficial impact on companies from synthetic fibre producers, tyre, paints, lubricants, plastic, and FMCG sectors that depend on crude oil as their primary raw material.
10. On the consumer level, there could be a fall in retail prices of gasoline and diesel over the next few weeks as oil companies cut retail prices to pass on the decline in crude oil prices.

Going ahead, market participants are expecting crude oil prices to remain low until OPEC+ resets oil production again.

Vijay Bhambwani, editor of Weekly Cash Alerts at Equitymaster, states that at this point in time, short selling natural gas & crude oil at significantly higher levels for the coming summer are high conviction trades. To know more about his view and positions, you can check out his recent article here: Energy Markets Get Muddy (requires subscription).

He's also shared his views on the ongoing "coronavirus" situation where he talks what's around the corner for crude oil, and how one should position oneself for potential gains. You can check this special podcast episode from Investor Hour here:

Well, then...these are some major highlights crude oil markets witnessed in the past and present and how they have been impacting crude oil prices.

With stock prices gyrating every day to coronavirus related developments, the weekend must come as a relief.

Here's a look at how deep the impact has been felt in the global financial markets:

1. Stock markets worldwide saw sharp losses on Thursday, with the benchmark indices on Wall Street and London saw their steepest daily falls since the Black Monday in 1987.
2. In the US, stocks witnessed a sharp sell-off on Thursday.
   • Thursday's dive follows the intense fall on Wall Street seen throughout the week. The S&P 500 triggered the first circuit breaker of the week on Monday after falling 7%. This fall came after the crash in crude oil prices.
   • The markets bounced back Tuesday, only to retreat on Wednesday after the World Health Organization (WHO) declared the coronavirus a pandemic.
   • At the closing bell, the Dow Jones Industrial Average finished down around 2,350 points (down 10%). The S&P 500 plunged 9.5%, while the Nasdaq Composite Index tumbled 9.4%.
   • Stocks were deep in the red the entire session, which was paused for 15 minutes early in the day. Automatic suspension was triggered after the S&P 500's losses hit 7%.
   • On Thursday, equities erased their losses briefly after the US Federal Reserve announced measures to inject an additional US$ 1.5 trillion in cash into financial markets. The announcement, which came after European markets had closed, sent shares higher, but they dropped back by the end of the day.
3. Coming to the European markets now, the main UK index dropped more than 10% yesterday in its worst day crash since 1987. Losses on the UK's FTSE 100 wiped some 160.4 billion pounds in wealth from the market.
4. Frankfurt had its worst day since 1989, the year the Berlin Wall fell, while Paris suffered its biggest one-day loss on record.
5. However, European stock markets rallied this morning. The signs of a US stimulus package helped soothe fears about an economic shock. At the time of writing, European indices were trading mixed. Shares in London were up 4.1%, while the Paris CAC gained 3.5%. However, the Frankfurt DAX crashed 9.3%.
6. Stocks in Asia also saw consistent sharp falls throughout the week. Japan's benchmark Nikkei 225 index closed 6.1% lower today.
7. Shanghai was down around 1% as the number of new cases in China shrunk and people slowly returned to work in the worst-hit areas.
8. In Asia, circuit breakers were also triggered in many exchanges including India, Japan, South Korea, Indonesia, Thailand, and the Philippines this week.
9. Indian share markets saw their biggest ever single day fall this week. The indices today hit their lower circuit limits within 15 minutes of the opening session. This was seen the first time in 12 years that trading in Indian markets had to be halted. The carnage didn't continue, however, as Indian indices recovered after major free-fall as trading resumed after 45-minute halt.
   
   From there on, it was an upward rally as markets went on to witness buying interest and saw their biggest intraday recovery ever.
10. On a year-to-date (YTD) basis, the worst fall has been witnessed by European markets. Here's a view on how the world markets have performed since January 2020.

US Markets			European Markets			Asian Markets
The Dow	Nasdaq	S&P 500	London	Paris	Germany	Hang Seng	Nikkei 225	Shanghai	Sensex
-27%	-21%	-24%	-31%	-33%	-32%	-16%	-25%	-6%	-17%

This worldwide crash has put March 2020 into the history books. Now, how markets perform in the coming days will be something to watch out.



This article (Worst Week for Global Stock Markets: Coronavirus Impact in 10 Points) is authored by Equitymaster.

Equitymaster is a leading 'independent' equity research initiative focused on providing well-researched and unbiased opinions on stocks listed on the Bombay Stock Exchange.


Full Article

Coronavirus fears have spooked the investors worldwide with BSE Sensex and NSE Nifty falling over 25% this month, in line with many other global indices.

After sharp corrections in three trading sessions on March 9, March 12, and March 16 by 5.1%, 8.1% and 7.9% respectively, the Sensex crashed by an overall 22% this month.

Let's dive a bit deeper and look at how the impact has been on individual sectors...

1. While all sectoral indices are in a sea of red since the outbreak of coronavirus, here's a look at the worst hit sectors since coronavirus outbreak:

   Sector	Since 1 March (%)	Since 1 Jan (%)
   BSE Metal	-30%	-45%
   BSE Bankex	-31%	-37%
   BSE Oil & Gas	-24%	-36%
   BSE Auto	-24%	-36%
   BSE Finance	-30%	-36%
   BSE Realty	-31%	-36%
   BSE Capital Goods	-25%	-33%
   BSE Power	-22%	-32%
   BSE Basic Material	-26%	-32%
   BSE Consumer Discretionary	-24%	-28%
   BSE IT	-25%	-27%
   BSE FMCG	-18%	-22%
   BSE Consumer Durables	-24%	-20%
   BSE Healthcare	-15%	-15%
   BSE Telecom	-18%	-14%

   *Note that prices are as on 19 March 2020
2. As you can see in the table above, metal sector has been hit the worst on year-to-date (YTD) basis. Note that, the sector has been witnessing selling pressure since last two years. The coronavirus situation has only exacerbated the situation.
3. Another sector that is largely impacted is banking and NBFCs. After being the most preferred in the Indian equity indices for over half a decade, things have changed for stocks in the financial sector. In India it is a double blow for financial sector in the form of YES Bank fallout and prolonged slowdown which increased the chances of credit quality deterioration.
4. To put things into context, foreign institutional investors (FIIs) were heavily positioned in the Indian financial space, and stocks in the sector witnessed maximum inflows during good times. Downward spiral for financial sector began since IL&FS crisis.
   
   Both, BSE Bankex and BSE Finance Index have plunged over 30% since the beginning of the month.
5. Shares of most hotel, leisure and airline firms have tumbled over 60% year-to-date, as the coronavirus outbreak across the world has forced people to cancel vacation plans. India also stand to lose foreign tourists due to the entry restrictions that have been put in place. And this has meant things getting worse for hotels and airlines sector.
6. Out of the 90 stocks listed on BSE from tourism, hospitality and film distribution segments, only 15 have given positive returns YTD.
7. Another sector that's facing the brunt is the automobile sector. Coronavirus couldn't have come at a worse time for India's auto sector that is battling a prolonged slump in demand. The virus outbreak has added to the pain, hitting production and lowering the demand even further as consumer spending is unusually low. Reportedly, the correction in the auto index is now close to what was seen during the 2008 global financial crisis. BSE Auto Index is down 36% on a YTD basis.
8. The fall in other indices like FMCG, consumer durables, capital goods and IT is relatively moderate as they do not have any direct impact of the pandemic. However, they too have been witnessing selling amid the sharp correction in Indian share markets.
9. Interestingly, Indian pharma has been doing much better than the overall index. Since the beginning of March 2020, the Sensex is down by 26% while the BSE Healthcare index is down only by 15% (till 19 March 2020).
   • One factor is the rupee weakness which has weakened well beyond the Rs 75/$ mark. A weak rupee helps exporters and pharma obviously benefits.
   • Another factor is the spread of the novel coronavirus has led global investors to rush for pharmaceutical stocks recently, on back of a rise in demand for generics and branded generics leading to shortages and over-pricing for drugs.
10. However, as the markets took a breather on Friday, the sectors that rallied the most were BSE FMCG, BSE IT and BSE Oil & Gas indices, gaining over 8% each.

What do you think will be the long-term impact for these sectors? Well, you can let us know by dropping your views in the comments section below.

While most sectors have been falling, our co-head of research, Tanushree Banerjee believes in long term, Indian auto ancillaries, textiles, chemical companies, Pharma R&D contract manufacturers, will all be the major beneficiaries of what she calls the Rebirth of India megatrend.

Also, in times like these, our special report, How to Trade the Coronavirus Crash, will help you get a grip on the current market situation...and figure out ways to profit from it.

This is the most comprehensive report on how to trade the coronavirus, both from a short-term and long-term perspective. I strongly recommend you read it now. Claim your FREE copy here...

Happy Investing!

With the ongoing panic in the global as well as Indian stock markets, there is no end to foreign investors dumping Indian shares.

This wasn't the case a while back. Foreign institutional investor (FII) were making a beeline for Indian equities few months back.

How has this trend been so far this year? What has changed in recent weeks and months? And what's behind the heavy movement of foreign funds in India?

Let us look at some key points to answer these questions...

1. September 2019: FII Money Returns to India Again

   If we track the trend of FII flows in financial year 2019-20, after the Union Budget in July 2019, foreign investors began selling. They pulled out a ton of money from Indian equities.

   Why? Well, they were disappointed with the budget as it did not address the key concerns the economy was facing.

   However, the month of September was a different ballgame altogether as foreign money once again made its way into Indian equities. Not surprisingly it was also the month in which the Government made amends for its failed budget.

   This is evident in the chart below:

   September 2019: Foreign Money Returns to India Again

2. 3rd Quarter 2019-20: FIIs Keep Pouring Money in Indian Equities

   There were two reasons behind the above FII rush to Indian equities:

   1. Clarification by the FM that the tax on the super-rich was not applicable on foreign investors
   2. Cut in corporate tax rates, among other efforts, that had the potential to make Indian manufacturing globally competitive

   Both the above points strengthened the case for investing in Indian for FIIs.

   And they kept on pouring money in the following months.

   Here's how much money came by FIIs to Indian stock markets in the third quarter of FY20:

   Month	Net Investment (Rs, m)
   Oct-19	85,956
   Nov-19	129,249
   Dec-19	6,941
   Total	222,146

   Data Source: Equitymaster

3. 2019: Best FII Flows in Six Years

   Overall, in calendar year 2019, FIIs pumped in a net of more than Rs 1,000 bn (billion) in Indian stocks. This made it their best such infusion in six years. The previous high was Rs 1,130 bn in 2013.

4. 2020: The Downtrend Starts

   The buying trend, however, didn't last long. FIIs rushed out of India amid concerns of slowing economic growth and high stock valuations.

   In the month of January, they pulled out Rs 126.8 bn from Indian stock markets.

5. Feb-Mar 2020: Coronavirus Triggers FII Sell off

   The selling intensified further in February and March 2020. The major trigger was the coronavirus led panic sell-off across global financial markets.

   In February and March, Nifty and Sensex corrected sharply. It was not just Indian share markets but even global indices like the Dow Jones, NASDAQ, FTSE, DAX, CAC and the Nikkei that witnessed the brunt.

   In the Indian context, the stock market correction was exacerbated by the weak foreign investor sentiments. The real surprise was not the FII selling. It was the ferocity and the intensity of the selling in such a short span of time.

   From February 14th, the FIIs have been sellers on all days except one.

6. March FII Outflows to date to Surpass the 2008 Crisis Level

   So far in March, FIIs have sold a net of Rs 478.9 bn of Indian shares.

   And this makes the outflows of the month set to surpass the 2008 crisis level.

   While India is still better placed relative to other emerging market peers, the wipe-out has been massive.

What Should Market Participants Do?

There is no denying that FIIs play an important role in the Indian stock markets.

Strong FII participation is good from the domestic investors' point of view in the sense that it leads to enhanced liquidity and greater depth in the market.

However, in the event of FIIs pulling out on a larger scale and a free fall in the markets, the correction in valuations of fundamentally solid companies would be just temporary. It may in fact offer some lucrative value buying opportunities.

How do you zero in on these opportunities?

Our special report, How to Trade the Coronavirus Crash, has the answer. Just claim your FREE copy here...

Stock markets around the world witnessed one of the most painful correction phases in the month of March 2020.

Indian stock markets too mirrored the trend.

Here are six charts showing how Indian financial markets performed in March 2020.

1. Record Wealth Destruction
   
   

   In the month of March 2020, the Sensex fell as much as 23%.

   It is not the month where the market has fallen the most. That honor goes to October 2008 where markets tanked 23.9%, beating the 23.1% the market lost last month by a whisker.

   However, March 2020 wins hands down in wealth destruction.

   Wealth destruction of Rs 4.4 lakh crores back in 2008 pales in comparison to the Rs 14.6 lakh crores worth of wealth destroyed on the Sensex in the last month alone.

   March 2020 the Second Worst Month in History

2. Huge Selling Pressure for Individual Stocks
   
   

   Except two, all the stocks in the BSE Sensex plunged in March 2020.

   The decline was mainly led by banking stocks and financial stocks.

   Stocks such as IndusInd Bank, Bajaj Finance, and Axis Bank fell as much as 40%-70%.

   Top BSE Gainers and Losers in March 2020

3. All Sectors in a Sea of Red
   
   

   Among sectors, all the BSE indices gave negative returns in March 2020.

   BSE Realty, BSE Bankex, BSE Finance, and BSE Auto Index fell more than 30%.

   It was a double whammy for banking and finance stocks that witnessed most of the brunt on the back of coronavirus outbreak and Yes bank crisis.

   Worst Hit Sectors in March 2020

4. Crude Oil Slumps Over 50%
   
   

   Crude oil crashed over 50% in March 2020.

   The fall was seen because of oversupply amid subdued demand.

   Oil prices crashed last month in what was the worst price dip since the 1991 Gulf War with Brent prices plunging to US$ 31 per barrel.

   Oil markets faced a double whammy from the coronavirus outbreak and a price war between Saudi Arabia and Russia after OPEC and other producers failed to agree on deeper cuts to support oil prices in early March.

   Shares of oil marketing companies such as Hindustan Petroleum Corporation (HPCL), Bharat Petroleum Corporation (BPCL), GAIL, ONGC, Indian Oil Corporation (IOC) and Indraprastha Gas were in focus in March amid record low crude oil prices.

   They witnessed buying interest and capped most losses led by the stock market crash.

   In his latest video, Ajit Dayal shares his views on the impact of the coronavirus crisis and the oil price war on the Indian economy and the stock market. You can view the same here.

   Crude Oil Continues Free Fall

5. Gold Prices Shine
   
   

   Base metals also remained under pressure as lockdown imposed in several parts of the world curbed demand, pushing stockpiles higher.

   However, gold prices rose 3% in March 2020 as demand for the safe haven asset rose with market participants bracing prolonged uncertainty in the wake of the novel coronavirus outbreak.

   To know more about gold, you can check one of Vijay Bhambwani's recent articles here: Is the Price of Gold About to Go Higher?

   Gold Witnesses Buying

6. Rupee Hits Record Low in March 2020
   
   

   Massive sell-off in equities and bonds led to a huge fall in rupee against the dollar in the month of March.

   The rupee hit a record low of 76.32 against dollar earlier this week.

   Most of the selling pressure for rupee was seen on the back of slump in equities and currencies globally. Investors were concerned that support measures from governments and central banks may be insufficient to halt the economic damage caused by the coronavirus pandemic.

   Rupee Continues Downtrend

So, that was a round-up on how Indian financial markets performed in the month of March 2020.

At times like these, while we must do everything we can to guard against the coronavirus, we must not ignore our money.

Our special report, How to Trade the Coronavirus Crash, will help you get a grip on the current market situation...and figure out ways to profit from it.

This is the most comprehensive report on how to trade the coronavirus, both from a short-term and long-term perspective. I strongly recommend you read it now. Claim your FREE copy here...

And rest assured, Equitymaster is with you all the way on this journey. To that end, we have decided to offer you two of our premium learning courses free!

From the comfort of your home, you can learn the basics of fundamental investing with Equitymaster Secrets and the ins and outs of making money using derivatives with Derivantage. Get started right away.

Happy Investing!

Most sectors in the Indian share markets have been drowning in a sea of red due to the crash led by coronavirus outbreak. The biggest blow, however, has been felt by the banking sector.

The sector was already reeling under pressure due multiple factors for quite some time. And things started getting worse since the start of 2020.

Here's a timeline showing some major events that happened in the Indian banking sector and led to the slowdown we are witnessing in the past few months...

1. Mounting Pile of Bad Loans: Indian banks have for years worked to beat down mounting piles of bad loans of the sort that led to the Yes Bank fallout. The ratio of gross non-performing assets (NPAs) at Indian banks rose to 11% in 2018 from about 2% in 2008, before starting to ease off.
2. IL&FS Crisis Kicks Off the Downward Spiral: Foreign institutional investors (FIIs) were heavily positioned in the Indian banking and financial space, and stocks in the sector witnessed maximum inflows during good times. However, they started noticing cracks with consistent negative performance in the banking and financial sector and started moving out of them. The downward spiral for these sectors began since IL&FS crisis camec out into the open.
3. Credit Quality Deteriorates: After being the most preferred sector for over half a decade, things started changing for stocks in the banking sector since 2020. This came as the sector witnessed a double blow in the form of YES Bank fallout and prolonged economic slowdown. And all this only led to credit quality deterioration for banks.
4. YES Bank Crash: The Yes Bank crisis and the sight of Rana Kapoor being taken to court in early March came in as one of the worst months for India's banking sector.
5. Bailout for Yes Bank: To save Yes Bank, a range of Indian lenders led by the State Bank of India (SBI), infused funds in return for an equity stake. The episode came as a jolt to investors, who worried it could exacerbate vulnerabilities in the financial system.
6. Panic Selling Amid SC Order: Then came another blow. Before the dust settled on Yes Bank, the Supreme Court ruled that telecom operators must pay dues worth billions owed to the government. This caused panic-selling in bank stocks due to their heavy exposure to the telecoms sector.
7. Coronavirus Threat: The challenges now facing India's banking sector have reached another order of magnitude due to the coronavirus threat to the economy. Banking stocks have been among the hardest hit.
8. Sharp Fall for BSE Bankex: The BSE Bankex has fallen about 46% so far this year, outpacing the 32% fall in the BSE Sensex. Shares of Axis Bank and IndusInd Bank have lost the most during this period.
9. Relief Measures: Owing to all these shocks, banks have sought various relief measures. On 27 March 2020, the Reserve Bank of India (RBI) came out all guns blazing to arrest a potential slowdown caused by coronavirus (Covid-19). It did not just lower the cash reserve ratio (CRR) by 1% to 3% but also cut the repo rate by 0.75%. Also, there is a three-month moratorium on payment of loan installments.
10. PSB Merger: Then came the major announcement effective from 1 April 2020. First announced in August 2019, the government's ambitious plan to merge 10 state-owned banks into four came into effect from 1 April 2020. The move, aimed at strengthening the banking system and creating more large institutions with size and scale, has seen...
    • Oriental Bank of Commerce and United Bank of India merged into Punjab National Bank,
    • Andhra Bank and Corporation Bank merged into Union Bank of India,
    • Allahabad Bank merged with Indian Bank, and
    • Syndicate Bank amalgamated into Canara Bank

So, that were some top pointers on what the Indian banking sector has been going through amid the coronavirus led stock market crash.

I reached out to Tanushree Banerjee, who is closely tracking the banking sector in the current scenario. Here's her view on the sector...

• The Covid-19 lockdown has hit cash flows of both individual borrowers and corporates. This, in turn, will impact their loan repayment capability.
  
  The RBI's repo rate cut came as a temporary lifeline for Indian companies with debt on books. It will offer both companies and retail borrowers some breather. If banks use this phase judiciously, it may save the NPA ratios from worsening significantly.
  
  However, only the banks that have adequate capital and provisioning cushion may be able to tide over the economic crisis. Eventually, another round of consolidation in private sector banks, like the one after 2002, cannot be ruled out.

Tanushree's latest StockSelect recommendation is one such midcap bank.

You can read the entire report here (requires subscription).

Also, speaking of ongoing stock market crash, our special report, How to Trade the Coronavirus Crash, is the most comprehensive report on how to trade the coronavirus, both from a short-term and long-term perspective. You can claim your FREE copy here...

And rest assured, Equitymaster is with you all the way on this journey. To that end, we have decided to offer you two of our premium learning courses free!

From the comfort of your home, you can learn the basics of fundamental investing with Equitymaster Secrets and the ins and outs of making money using derivatives with Derivantage. Get started right away.

Happy Investing!

As the Coronavirus pandemic continues to haunt the global financial markets, the rupee has been hit badly.

The domestic currency has been continuing its downtrend and hit its record low level against the dollar last week.

Here's a timeline showing how the Indian rupee has performed lately and the factors behind it...

1. Rupee in 2018:
   
   

   The Indian rupee was the worst performer in Asia in 2018. As can be seen from the chart below, it fell by around 12% against the US dollar. This was seen due to a strong dollar and high oil prices in 2018. Similarly, the spill-over from the emerging-market turmoil in Argentina and Turkey weighed on the rupee in 2018.

   Indian Rupee: The Worst Performing Currency in Asia in 2018

2. Rupee in 2019:
   
   

   The rupee traded on a volatile note last calendar year. However, for most of 2019, it traded on a negative note against the US dollar.

   While it started the year at 69.71 against the US dollar and also witnessed some uptrend from April 2019 to August 2019, it went on to depreciate during the end of the year. On December 2019, it ended at 71.31 against the US dollar.

   Rupee Trades was Volatile in 2019

3. Rupee in 2020 So Far:
   
   

   On a year-to-date (YTD) basis, the rupee has depreciated sharply against the US dollar. While it started the calendar year 2020 at 71.28 against the US dollar, it is currently trading at 76.27 against the US dollar. This translates to a depreciation of around 7% for the domestic currency.

   YTD Performance of the USD/INR

4. Downtrend in March 2020:
   
   

   The massive sell-off in equities and bonds led to a huge fall in rupee against the dollar in the month of March 2020. Most of the selling pressure was due to the slump in equities and currencies globally.

   Investors were concerned that support measures from governments and central banks may be insufficient to halt the economic damage caused by the coronavirus pandemic.

   Here's how the currency performed in the month of March:

   Huge Depreciation of the Rupee in March 2020

5. Rupee Hits Record Low in April 2020:
   
   

   The rupee fell to a new record low of 76.55 against the US dollar on 9th April, 2020.

   This was seen as a rise in coronavirus cases fanned fears of the government extending the lockdown to contain the pandemic.

6. Factors Behind the Rupee's Fall:
   
   

   Some major factors behind the recent fall in rupee are...

   • Weak sentiments in the currency markets due to global risk aversion
   • Sharp fall in the Indian stock markets
   • Sharp fall in global financial markets due to coronavirus fears
   • Strengthening dollar
   • Thin liquidity due to reduced participation

These are some top pointers on how the Indian rupee has been performing in recent years and amid the coronavirus led stock market crash.

I reached out to Vijay Bhambwani, editor of Weekly Cash Alerts, who is closely tracking the Indian rupee in the current scenario. Here's what he has to say...

The onset of Corona virus has not been kind to the INR.

The Rupee futures (USDINR ) opened in March at 72.36 and have closed at 76.61 on April 09 2020. That is a decline of 5.87% in 6 short weeks.

The implications of the same will be widespread. India is a net importing Country. Everything that we import will now be more expensive. Approximately two thirds of all our imports are fossil fuels. Fuels are what we call multiplier effect commodities. If fuel prices rise at the petrol pumps, everything from fruits, vegetables, grains to dairy and poultry products get expensive.

That impact will be felt at a later date. I expect the trickle down effect to start appearing in prices after the April-June quarter is over.

I have already factored in this aspect in my statistical data model and plan to identify such events to generate profitable trading opportunities for my WCA plan subscribers.

Vijay has also talked about the Indian currency in a special edition podcast from Investor Hour. He shares what's around the corner for Indian rupee and how to should position oneself for potential gains.

You can listen the entire episode here...

Speaking of ongoing stock market crash, our special report, How to Trade the Coronavirus Crash, is the most comprehensive report on how to trade the coronavirus, both from a short-term and long-term perspective. You can claim your FREE copy here...

And rest assured, Equitymaster is with you all the way on this journey. To that end, we have decided to offer you two of our premium learning courses free!

From the comfort of your home, you can learn the basics of fundamental investing with Equitymaster Secrets and the ins and outs of making money using derivatives with Derivantage. Get started right away.

Happy Investing!

Former Pakistan pacer Shoaib Akhtar says he cannot fathom why Mahendra Singh Dhoni has "dragged it for so long" as the right time for the maverick ex-India skipper to call it quits was after last year's ODI World Cup. Akhtar said he hopes the 38-year-old Dhoni gets a resounding farewell despite his resolute silence on what the future holds. "This guy has served to the best of his ability. He should leave cricket with dignity. I don't know why he dragged it for so long. He should have retired after the World Cup," Akhtar told PTI from Islamabad.

"If I would have been in his place, I would have hung up my boots. I could have played shorter formats for three-four years but I left [after the 2011 WC] as I wasn't into the game 100 per cent. So why drag?" he asked. Dhoni, who has not played a competitive game since the World Cup semi-final in July, was preparing to make a much-anticipated comeback with the IPL, which is now unlikely to take place due to the COVID-19 pandemic. If he had done well in the IPL, there was a possibility of him playing the T20 World Cup in October-November. Akhtar believes Dhoni is now in a limbo but deserves a grand send-off despite the anti- climactic turn of events.

Shoaib Akhtar

"As a country, you should let him go with a lot of respect and dignity. Give him a nice send off. He has won you the World Cup and done wonders for India. He is a wonderful human being at the same time. But right now, he seems to be stuck," he said. Akhtar said Dhoni should have ideally retired after last year's 50-over World Cup. "When he could not finish the game in the semi-final [v New Zealand], I felt he should have retired. Only he can answer why he didn't. He should have played a farewell series after that World Cup probably and then said goodbye in a manner befitting his great stature." Talking about the Indian team's inability to win a global event since the 2013 Champions Trophy, Akhtar said Virat Kohli's said: "Winning tournaments is one thing but staying at top is another. India is still the top-ranked Test team and among the top teams in the limited-overs format. We can't rate their performance only in ICC events.

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Former India captain Krishnamachari Srikkanth said that current skipper Virat Kohli can be compared to Kapil Dev. Srikkanth was part of the squad that Kapil led to victory in the 1983 World Cup and feels that Kohli's self-believe is reminiscent of the former all-rounder.

"I played with Kapil Dev and played under him. I can compare Virat Kohli with Kapil Dev. I see a tremendous amount of self-belief in him," Srikkanth said on Star Sports Cricket Connected where he was chatting with former batsman VVS Laxman and former England skipper Nasser Hussain.

Laxman said that he was afraid that Kohli's famous intensity might burn out in time but that has shown little signs of happening. "I admire Virat Kohli's intensity. One thing I was worried about was whether he will burn out quickly. But not even for one session or one over does he let his intensity drop and that is really commendable,"

Laxman said on the TV show. Kohli averages above 50 in all forms of international cricket. In Tests, he has scored 7240 runs at an average of 53.62 and in ODIs, he has scored 11,867 runs at an average of nearly 60.

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Always eager to share his vast knowledge and experience, cricket icon Sachin Tendulkar has interacted with 12,000 doctors on sports injuries. In his over two decade long illustrious career, Tendulkar suffered many health issues, the most prominent being the tennis elbow injury.

The veteran of 200 Tests and 463 ODIs, got to know through one Dr Sudhir Warrier, an orthopaedic surgeon, that several young doctors across the country were utilising the lockdown time to effectively gain knowledge on sports injuries through live webinars. A session on sports injuries was held on Saturday and Tendulkar, knowing that his experiences will help these doctors, volunteered to be a part of it.

Tendulkar, accordingly, interacted with around 12,000 doctors, who attended the session. It is reliably leanrt that the 46-year-old legend said he was grateful to the medical fraternity for their service. During the session, the young orthopaedic doctors got to know how the requirements and treatment outcomes of athletes are different from regular patients, sources said. Dr Warrier moderated the session with Dr Nitin Patel, physiotherapist, who has worked with Indian cricket team and IPL franchise Mumbai Indians.

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Former Sri Lanka captain Kumar Sangakkara on Sunday said someone must answer to the questions which are still unanswered in regards to the Sri Lanka Easter bombing last year.

"A year on we all share the pain of the families grieving lives lost, we stand with you and for you. We remember. So many questions still unanswered, but answer them someone must," Sangakkara tweeted as people across the world celebrated Easter on Sunday.

Sri Lanka celebrated a quiet Easter Sunday amid the coronavirus lockdown, while remembering the victims of the terror attacks that killed at least 270 people on the resurrection day last year. People largely stayed indoors and offered prayers from home with the Archbishop of Colombo, Cardinal Malcolm Ranjith, leading an Easter mass from a TV studio because of the pandemic.

The attacks wounded over 500 and deepened communal tensions in Sri Lanka. The bombings, carried out by local Islamist extremists with suspected foreign ties, was claimed by the Islamic State. Police said that they have killed or arrested all suspects in various counter-terror operations carried out in the days after the mayhem.

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South Africa pacer Dale Steyn has revealed his favourite bowling spells. Steyn was doing an #AskDale session on Twitter and a fan asked him about his best spells in international cricket. The Proteas pacer replied: Nagpur (7 against India) and Wanderers (6 against Pakistan). Steyn picked up a seven-wicket haul against India at Nagpur in 2010 in the first Test of the two-match series.

His exploits helped South Africa defeat India by an innings and 6 runs. Steyn achieved the feat in the first innings after Proteas put up a mammoth score of 558/6. Steyn picked up the wickets of Murali Vijay, Sachin Tendulkar, S Badrinath, Wriddhiman Saha, Harbhajan Singh, Zaheer Khan, and Amit Mishra to finish with figures of 7-51. In the Test match against Pakistan at Johannesburg, Steyn finished with figures of 6-8 in the first innings to bundle out the opponents for just 49. Steyn picked up the wickets of Mohammad Hafeez, Nasir Jamshed, Younis Khan, Sarfaraz Ahmed, Saeed Ajmal, and Rahat Ali.

In the second innings against Pakistan, Steyn took five wickets and South Africa won by 211 runs. Steyn announced his retirement last year from red-ball cricket, which he termed as the ultimate form of the game. Explaining his decision, Steyn said that it was in the best interest of prolonging his career. He continues to remain available for South Africa in both One-Day International and T20 cricket. The fast bowler represented South Africa in 93 Tests and took 439 wickets at an average of 22.95. Steyn became the leading wicket-taker for his nation in the longest format after he went past Shaun Pollock in 2019.

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Former Indian opener Virender Sehwag has stated the real inspiration behind his swashbuckling batting technique was 'Angad' -- a character in mythological epic 'Ramayan'.

Sehwag, who was known for his great hand-eye coordination with minimal footwork, on Sunday shared a picture of 'Angad' on Twitter and said: "So here is where I took my batting inspiration from. Pair hilana mushkil hi nahi, namumkin hai. #Angad Ji Rocks."

So here is where i took my batting inspiration from :)

Pair hilana mushkil hi nahi , namumkin hai . #Angad ji Rocks pic.twitter.com/iUBrDyRQUF

— Virender Sehwag (@virendersehwag) April 12, 2020

According to mythology, it is believed that Angad -- who was part of vanar sena which helped Lord Ram in rescuing his wife Sita from Lanka -- was sent as an emissary to the court of Ravan in order to avoid war.

However, Ravan declined the offer and then to break his ego, Angad challenged that if anyone present in the court would be able to lift his feet from the ground then Lord Ram would accept defeat and leave Lanka.

But it is believed that none of the warriors present in Ravan's court was able to lift Angad's feet.

Sehwag, who played 251 ODIs and 104 Tests for India, scored 8,273 and 8,586 runs respectively. In fact, he is the only Indian cricketer to hit two triple centuries in Test cricket.

The swashbuckling opener also played 19 T20Is for India in which he amassed a total of 394 runs.

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Working out, washing utensils, watching movies and playing Ludo online -� these are some of the few activities which ace Indian batter Smriti Mandhana is indulging during the lockdown period in place as the country battles the coronavirus outbreak.

In a one-minute 38 second video shared by the BCCI, Mandhana has revealed her day to day activities in order to make sure how she makes the most of the lockdown period currently in place in the entire country.

WATCH📽ï¸Â: Lockdown Diaries with Smriti Mandhana 👊

Workouts, troubling her brother, Ludo & a lot more. @mandhana_smriti reveals how she is keeping herself engaged indoors🏠🏋ï¸Â‍♀ï¸ÂðŸ‘Œ

Full Video 👉 https://t.co/e7EyhdNh3h

— BCCI (@BCCI) April 13, 2020

She is working out as per the training schedule given by Team India trainer. "Staying fit is very important, so I am working out. I keep in touch with the trainer and receive the feedback. He keeps sending us (all Indian players) all the workouts that we need to follow."

"The other thing I like is spending time with my family. We love playing cards. I help my mother with cooking. I guess washing utensils has become a part of my daily routine. However, my favourite pass time is to trouble my brother," said the left-handed Indian batswoman.

"The third thing which is love is watching movies. I am a big movie buff. So, I make sure I watch two-three movies a week, not many because I don't want to get addicted. I want to spend time with my family.

"The best thing which I love doing the most at home is sleeping. I make sure I sleep for at least 10 hours to keep myself happy the entire day," she added.

The star Indian batswoman also urged people to stay indoors during the lockdown. "Stay home, stay safe and keep yourself physically and mentally fit."

India has been in lockdown since March 25, a step taken in order to stop the spread of coronavirus which has so far claimed more than 300 lives in the country. However, with an upstage in number of infected people, the lockdown is likely to be extended further after Tuesday.

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As all-rounder, Ravindra Jadeja shared a video to show-off his swashbuckling swordsmanship, former England skipper Michael Vaughan left a cheeky comment on the Instagram post.

Jadeja had shared a video on Instagram on Sunday to show off his trademark swordsmanship. However, taking the note of the grass in Jadeja's lawn, Vaughan replied: "Your grass needs a mow rockstar".

On Sunday, the left-handed Jadeja was displaying various moves with the sword in the video posted on Instagram.

 

 

 

View this post on Instagram

A “SWORD” MAY LOOSE IT’S SHINE,BUT WOULD NEVER DISOBEY IT’S MASTER. #rajputboy

A post shared by Ravindra Jadeja (@royalnavghan) onApr 12, 2020 at 6:45am PDT

The cricketer is very-well trained in swordsmanship and he has also made it popular by swinging his bat like a sword in cricket matches whenever he crosses the mark of 50 or 100.

Last week, Australian batsman David Warner had also shared a throwback video from the last year's Indian Premier League (IPL) in which he was swinging his bat like a sword.

The SunRisers Hyderabad skipper was swinging the bat like a sword for a commercial and he immediately broke into laughter once the director said cut.

 

 

 

View this post on Instagram

Throwback to this time last year to a commercial we were doing for @sunrisershyd Do you think I’ve got @royalnavghan covered for the sword?? 😂😂

A post shared by David Warner (@davidwarner31) onApr 7, 2020 at 11:21pm PDT

Warner had also asked the fans to give their opinion on as to how he did as compared to Jadeja.

With the country battling COVID-19, all sporting activities have been either postponed or stand cancelled. The upcoming Indian Premier League (IPL) has also been suspended till April 15.

Jadeja is part of the IPL franchise Chennai Super Kings and he would have been in action if the tournament had started as planned on March 29.

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Former Australia batsman and Sri Lanka's 1996 World Cup-winning coach, Dav Whatmore is set to become the Baroda Ranji Trophy team's first overseas coach.

Whatmore, 66, who coached Kerala for the last three seasons, will replace Sanath Kumar as head coach of the team. He will also be the Baroda Cricket Association's cricket director for next two seasons.

"We have almost finalised Whatmore and will give him a letter of intent in a couple of days. Chandrakant Pandit and Sulakshan Kulkarni were also in the fray, but Pandit became coach of Madhya Pradesh, so we decided to go with Whatmore," BCA secretary Ajit Lele told mid-day on Monday.

Ajit, the son of former BCCI secretary Jaywant Lele, also revealed that Whatmore will be the most expensive first-class coach in India. "He will become the most expensive coach of a first-class team in our country and also the first foreign coach of a Baroda Ranji Trophy team. He has huge experience of handling national teams like Sri Lanka, Pakistan and Bangladesh so we gave him priority," Lele remarked.

Whatmore's manager Kaustuv Lahiri, who also manages South Africans Lance Klusener (head coach of Afghanistan) and Russell Domingo (Bangladesh's head coach) confirmed the development. Baroda, who were Ranji Trophy champions in the 2000-01 season, managed to win just two games for 14 points in eight matches last season.

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With the fate of the IPL hanging in balance, the future of former skipper M.S. Dhoni has been the talk of the town since the cash-rich league was set to be the platform to decide if Dhoni will make a return to the Indian team for the World T20 in Australia. And former opener Aakash Chopra feels it is highly unlikely Dhoni will play for India again.

"MS Dhoni has not told anyone anything. He has a different story. What almost everyone thinks is that he might return to the Indian team if he performs well in the IPL. But I personally feel he played his final match for India at Manchester against New Zealand," he said in a YouTube video with former Pakistan skipper Ramiz Raja.

"Since then, he has not made himself available to the team. He has not been dropped. I feel he has made up his mind that he is no longer going to play for India."

But the former opener feels there can be a change in stance if either BCCI President Sourav Ganguly or the team management calls for his services.

"Unless, of course, Sourav Ganguly, Virat Kohli or Ravi Shastri pick up the phone and tell Dhoni to help the team out in the T20 World Cup. If they tell Dhoni that they want him to play the World Cup, then there is a chance he could return," he said.

"Otherwise, in my opinion, Dhoni has made up his mind that 'I am not going to play, I don't need a farewell match. I came quietly, I will leave quietly'. He doesn't need grandstanding. He is not that kind of player."

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South African swashbuckler AB de Villiers says he doesn't want to create any "false hopes" of a much-awaited comeback at the T20 World Cup this year, which, he feels, could be postponed due to the COVID-19 pandemic. The outbreak of COVID-19 has forced the cancellation or postponement of many events but the T20 World Cup remains on schedule in Australia later this year for now. "I can't see six months into the future. If the tournament is postponed to next year a whole lot of things will change. At the moment I feel available, but at the same time I don't know how my body will see it and if I will be healthy at that time," De Villiers told Afrikaans-language Sunday newspaper 'Rapport'.

"...I might get to a point where I have to tell 'Bouch' (coach Mark Boucher) I was interested, I would like to play a role but I'm not going to be able to play myself. I'm afraid of such a commitment and creating false hope," he added. De Villiers said he does not feel entitled to walk into the South African team as has been alleged in the past. "If I am 100 per cent as good as I want to be, then I will be available. But if I am not I won't open myself up to that because I am not the type of person who does things at 80 per cent. Then I have to do trials and show 'Bouchie' I'm still good enough. "They should choose me because I'm really better than the guy next to me. I've never been the type of person who felt I should get just what I wanted."

The T20 World Cup in Australia in October and November could be a perfect stage for de Villiers coming back but he was mindful of avoiding a repeat of the debacle that unfolded during last year's 50-over World Cup in England after reports emerged that he casually expressed offer to come back and was rejected. "I am uncertain about giving a definite answer because I have been very hurt and burned in the past. Then people will again think I have turned my back on our country. I can't just walk into the team. "...I have to work for my place and deserve it. It was very hurtful for me last year when people thought I assumed there was a place for me. I feel available and I will give it a go with everything I have, but I don't want special treatment."

If de Villiers can make a comeback, the credit would go to South Africa coach Mark Boucher, who convinced him to rethink his retirement decision, taken in 2018. "I could write a book on 'Bouchie's impact just on my life, never mind cricket. I rediscovered that when I played under him at the Spartans (in the Mzansi Super League) in December. He was born to be an instructor. When he talks there's respect." "'Bouch' asked me why don't I give it another go," de Villiers said. "I've always said to him, 'I've never not wanted to be there. I've always wanted to be there. It's just, my life has changed'." De Villiers played in 176 of Boucher's 461 matches for South Africa across the formats.

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With people finding various ways to spend time during quarantine amid the Coronavirus pandemic, a Brazilian model challenged her cricket coach boyfriend to teach her how to bat during the 21-day isolation period.

And they are doing it. According to a report in dailymail.co.uk, Coco Cuhna suggested her boyfriend Gio Colucci that it might be fun to see if he could show her how to bat. "I was joking...he took it very seriously," Coco said.

"I thought Oh my gosh, what have I got myself in for!" Coco revealed she is spending 25 minutes a day learning how to pull, cut and drive from Gio, who is a director at The Cricket Academy in Cape Town, South Africa and has coached the likes of England batsman Tom Wesley, Derbyshire captain Billy Godleman and Ben Curran, brother of England duo Tom and Sam.

"I had never had any contact with cricket before, I never even knew about it before I moved to South Africa," said the Brazilian model. However, after a fortnight, Coco is now enjoying the drill.

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