Indian Equity Research and Investment Strategy
Given the unique growth-inflation dynamics of Indian Economy, the RBI was expected to ease rates for the first time in three years. However, it surprised positively – cutting its key policy rates by 50bps – higher than expectations of a 25bps cut. The repo and reverse repo rates now stand at 8% and 7% respectively. The cash reserve ratio (CRR) was left unchanged at 4.75%.
What is Beneficial to the Banks ? The RBI raised the borrowing limit (more…)
Infosys’ disappointing performance has raised multiple concerns around the demand environment and the competitive landscape of the IT services industry.
The increased visa scrutiny from the US, leading to delays and denials of visas, has been a reality for a while now, but has not impacted companies’ growth momentum by much. The CBS interview on 13 April with estranged Infosys employee Jack Palmer has attracted much attention (more…)
The Ruling Congress Government doesn’t seem to get the Inflation Fixed despite a slap on the face in the recent State Elections of Uttar Pradesh.
Annual Inflation for March came at 6.89% compared with 6.95% for the previous month and was higher than consensus of 6.65%. The rise in WPI in March is mainly a result of rise in primary articles prices. On the positive side, manufactured product inflation fell sharply to 4.87% from 5.75%. (more…)
MultiCommodity Exchange Ltd a Monopoly exchange in its own way in the Indian Commodity Segment listed with a appreciable premium [Read our MCX IPO Review here] and is all set to enter the Equity Trading Segment to get a slice of market from the National Stock Exchange.
Business of Commodity Exchnages in India: Commodity exchanges distinct from stock exchanges with a separate regulator; Multiple competitors (five national exchanges); Closely regulated list of products and participants; and Pricing is low and based on turnover rather than number of contracts. (more…)
Infosys Technologies‘ FY2012 Results are Pathetic. Revenues stood at USD 1771 mn posting a decline of 1.9% QoQ missing the already muted guidance of USD 1810 mn. EBITDA margins stood at 32.6%, declining 110 bps QoQ primarily due to rupee appreciation. While the utilization declined 440 bps QoQ to 73%, rationalization of other expenses has witnessed some tailwinds.
Guidance: INFY guided for FY13 US$ revenue growth (more…)
I normally never write against somebody unless they are really terrible. Today I would like to prove how bad is Sundaram BNP Paribas Mutual Fund operating in India. Sundaram BNP Paribas has the worst IT Systems and Customer Care. In this age of Web services, where even Karnataka Government is delivering Online Services towards Citizens, lethargic IT Managers at Sundaram BNP Parbias Mutual Fund operate with the Cover Your Ass attitude without any accountability or responsibility even when a customer is seeking for help badly.
If you call their help line 1-800-425-7237, it goes to a Voice Mail. Makes me wonder is their only one person answering the (more…)