EXECUTIVE SUMMARY. Institutional investors were recently in the news for opposing a 10% pay hike for a CEO-promoter in FY2021, a year of bad results for his firm. One big story went unremarked: that the latest pay hike was on a high base, since the CEO had received a 51% pay hike...
EXECUTIVE SUMMARY.
Problem: You are a leading
sell-side analyst. What do you do when confronted with valuable, authoritative,
and hitherto confidential information about India’s leading banks?
A. Highlight it.
B. Analyse it and publish a research report on it.
C. Pretend it doesn’t exist.
The correct answer, of
course, is C. Pink...
Kotak Mahindra Bank (KMB) sent the following response to this analyst’s article, “KMB Talks of “Highest Standards of Corporate Governance”, But Avoids Telling Shareholders about Adverse SEBI Orders against Executive Director” (dated August 3, 2022; it was later released to the general public as well, on grounds of public...
In an earlier insight, More Transparency Was Expected From HDFC Regarding Its Reliance Naval Exposure, on April 19, 2018, this writer had cautioned that RNE was a problem account in the industry and that most banks in the consortium would be classifying the account as a NPA.
On April...
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...
The Securities and Exchange Board of India (SEBI)’s order dated June 30, 2022 indicted not only the senior-most executives of Kotak Mahindra Mutual Fund (KMF), but also Kotak Mahindra Trustee Company (KMTC), for failing in its oversight of the asset management company. The matter related to KMF’s investment in...
EXECUTIVE SUMMARY. A commendable feature in Yes Bank’s 3QFY2021 results declared on January 22, 2021 was the continued level of transparency made available to investors on its asset quality, despite reporting the inevitable huge increase in stress loans. Around 30% of private sector banks loans were under the Covid-19-induced...
EXECUTIVE SUMMARY. In a highly reassuring development, Indusind Bank has stated to this writer that its board of directors
“has not considered any proposal to appoint Mr Sobti in any capacity post his retirement as
MD and CEO .”
Stakeholders may recall that at a joint interview to the...
EXECUTIVE SUMMARY. Citi’s decision to withdraw from consumer banking in 13 geographies, including India, and focus instead on corporate/institutional banking, is a lesson in missed opportunities, at least in the case of India. Citi India was the pioneer in consumer banking, in products such as mortgages and credit cards,...
EXECUTIVE SUMMARY
The air strikes launched by the Indian Air Force on Jaba Top in Balakot, in the Khyber Pakhtunkhwa province of Pakistan, have raised the stakes in the escalation of conflict between the two nuclear-armed neighbours in South Asia. The stock market reaction on the morning of February 26...
