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...
Hemindra Hazari
Equity research analysts produce impressive reports, operate complex statistical models, and can talk confidently about the future on the business channels. But the past year has not been kind to the fundamental predictions of most analysts.
In particular, there is a strong inbuilt bias of analysts to remain bullish....
Hemindra Hazari
Everyone knows public sector banks are less profitable, more prone to political influence and have higher ratios of non-performing assets (NPAs) than their private sector counterparts. In contrast, new private sector banks, set up post 1991, are media and stock market darlings. Most analysts tend not to mention...
It is curious that the first step of a reform-minded Chicago-school scholar was to announce a subsidy. Of course, unlike the subsidies that Rajan criticised as chairman of the Committee on Financial Sector Reforms in September 2008, this subsidy would go not to low income sections of the population, but to the banks.
Compliance with the formal corporate governance code will be incorporated in FY2001 annual reports. investors should not be dismayed by the lack of a corporate governance structure or conversely, lower their guard at elaborate corporate governance norms. Our report reveals that substance (eg, the importance of truly independent directors)...
HDFC Bank has used ingenious ways to understate its profits under Indian provisioning rules for FY2000. Apparently the year ended with the bank being flush with profits and, therefore, management decided to use some of its FY2000 profits for future contingencies.
HDFC-Bank-BUY-3-May-2000Download
Forecasts for financial institutions have to take into account the coming of a new chief executive officer (CEO). Some new CEOs have presented shocking results in their first year. Robust profits of previous years have suddenly evaporated, replaced by marginal profitability or even losses.
New-CEO-New-Accounts-15-June-99Download
BataBPO20May1996Download
