Hemindra Hazari
The year is not even three weeks old but has already been unkind to financial markets. The stock market is back to pre-Modi levels; the rupee is back to pre-Raghuram Rajan levels.
While global markets absorbed the US Federal hike in late December 2015, the stock market meltdown in...
A liquidity crisis of such a magnitude is not an overnight phenomena yet the credit rating agency certified the compnay as investment grade thereby misinforming bond holders and bankers
EXECUTIVE SUMMARY. Post the announcement of HDFC Bank’s results, the sell-side rejoiced and the overwhelming majority reaffirmed their bullish stance on the stock, which has handsomely rewarded shareholders in its quarter century of existence. The perennially bullish sell-side has been disregarding the cautions of Daniel Tabbush, one of...
EXECUTIVE SUMMARY. ICICI Bank’s 1QFY2022 results on July 24, 2021 highlight the need for shareholders to re-examine the bank’s retail asset strategy. ICICI Bank’s strategy was to focus on retail assets to compensate for the bulky poor-quality corporate assets that it had earlier emphasised. However, the broad economic slowdown...
Romesh Sobti, CEO, Indusind Bank, is a veteran banker with 43 years’ experience. He recently went on record to defend the bank’s substantial bridge loan to the fast-collapsing IL&FS, a systemically important non-deposit-taking core investment company. Sadly, he found this writer’s earlier insight on Indusind to be “nasty” and...
EXECUTIVE SUMMARY. The Covid-19 outbreak and the resulting lockdown have caused widespread economic devastation, particularly in urban and commercially developed centres. Taking into account the loss of revenue faced by different types of businesses, the Reserve Bank of India (RBI) plans to come out with a one-time restructuring package...
EXECUTIVE SUMMARY. Indusind Bank shareholders are paying a heavy price for senior executive-level reorganisation in Bharat Financial Inclusion (BFI), which backfired as disgruntled BFI seniors blew the whistle on alleged evergreening. Meanwhile the corporate division of the bank has being undergoing a similar drastic reorganisation.
For some years this analyst...
Mumbai: It is the season of resignations for the independent directors of India Inc’s corporate boards.
The recent stormy exit of R. Chandrashekhar from the board of Yes Bank caught the media’s attention, after which the private sector lender had to issue an apology to the stock exchanges and retract its earlier statement that his resignation was...
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Hemindra Hazari
Even in a season of corporate misgovernance, scams and lack of any CEO-level and board-level accountability, a new leviathan of misgovernance threatens to dwarf the rest.
Emerging from the murky depths – where it seems to have flourished, largely unreported on by the media, financial analysts and even the...
