Cover story | Dec 9, 2012
The cosy arrangement of "see-no-evil, speak-no-evil" between research analysts and companies in India was shaken
in July 2011 when Veritas started analysing large Indian companies. But will its efforts change the way
Indian analysts are going about their work?
Neeraj Monga, Executive Vice President, Veritas Investment, talks about the 'sensational' language of Veritas's reports and other issues, in a phone interview with Business Today. Edited excerpts:
Michael Palmer, President of the Toronto-based Veritas Investment,
explains what makes his company's research different, in an e-mail
interview with Suman Layak and G. Seetharaman.
BT-KPMG list India's Best Banks 2012
The Indian banking sector is coping with an increasingly risky environment after four years of the global financial crisis. Even as pinstripe-clad bankers tighten their belts, Business Today and KPMG together raise the annual toast to the best in the industry.
Best Banks 2012: Bank of Baroda tops again
The 104-year-old public sector lender has, for the second year in a row, emerged India's best bank in the Business Today-KPMG study, ahead of all the seemingly more nimble and market savvy private banks that have sprung up in recent decades.
YES Bank seeks to cast a wider net
In the Business Today-KPMG study 2012, YES Bank has emerged the best
midsized bank, edging out close rivals such as Kotak Mahindra Bank and
DBS Bank as well as last year's winner, IndusInd Bank. Rana Kapoor has taken YES Bank to the top in its category. He now wants to rapidly grow the retail business.
Branch banking unlikely to go out of fashion in India
Electronic transactions are fast catching on. Technology is not only making banking convenient for customers, it has also allowed banks to expand their businesses faster. The cost of servicing a client is highest at a branch followed by ATMs, online and mobile phones.
Why foreign banks are in a rush to enter India
Foreign banks continue to enter India, despite its restrictive regulations, because of the vast opportunity the country offers. They now constitute the largest segment of scheduled commercial banks in the country.
Corporates taking undue advantage of CDR system
Lately, hit either by the persisting economic downturn, the high
interest rates or their own over-leveraging, a number of high-profile
companies have sought to restructure their loans. Is it getting too much?
Banking sector poised for more changes: KPMG
From providing plain vanilla banking services, banks have gradually transformed themselves into universal banks. ATMs, Internet banking, mobile banking and social banking have made "anytime anywhere banking" the norm now. The banking sector has changed a lot, and is set to be transformed even further.
From the Editor: Dec 9, 2012
Analysts' reports that are critical of companies are always contentious;
company boards take analysts' meetings very seriously and with
A Marvel Called Gujarat
'Gujarat: Governance for Growth and Development' examines the reasons for the state's success.
Kingfisher lenders clueless on their Rs 7,000 cr debt
The first clarification from UB Group Chairman Vijay Mallya, after he
announced the sale of a controlling stake in United Spirits Ltd (USL) to
Diageo Plc, was that the funds from the deal need not flow to the
ailing Kingfisher Airlines.
Three banks propel Thrissur into the 21st century
Every year, hundreds of thousands of people converge on Thrissur, Kerala, for its spectacular temple festival. But Thrissur is remarkable also for another reason: this city of 400,000 people is the only small town in India that is home to three private-sector banks.
Cost arbitrage is no longer enough: Phaneesh Murthy
Shrinking IT budgets in the US, and not Barack Obama's anti-outsourcing rhetoric, will hurt the Indian software industry, which has to move away from showcasing benefits out of hourly billing models, says the CEO of iGate.
'Transparency needed to curb corruption'
Institutional capacities to combat corruption have lagged behind as India embraced liberalisation, globalisation and technological advances at a rapid pace, says CII President and Godrej Group Chairman Adi Godrej.
BSE, Karachi Stock Exchange set to form alliance
The BSE is the oldest stock exchange in Asia with a market capitalisation of over $1 trillion with around 5,000 listed companies, making it the world's 14th largest stock exchange. The KSE has a market capitalisation of $40 billion with 652 listed companies.
PE funds increasingly exiting through open market
This has largely to do with the surge in stock prices this year, even as the primary market remained somnolent. The biggest open market exit was Carlyle Asia Partners quitting Housing
Development Finance Corporation Ltd (HDFC) for $841 million in October.
How Things Work: Smog in north India
Smog is an annual phenomenon in northern India during the winter months.
This year, however, it has descended much earlier than usual and is
also surprisingly thick, especially at night.
News you may have missed this fortnight
News you may have missed over the past fortnight: gold demand in India rises by 9 per cent, 2G spectrum auction fails to generate big money, RIL facing challenges in getting project approvals and more.
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