RIL Grand Plan – III

Creating value in a tough telecom market… When the Reliance Group sunk in nearly Rs.250,000 crore into the telecom foray, most analysts were highly skeptical about the ability of the firm to earn return on investment (ROI). As of now, RIL does not still disclose the ROI on its investments in telecom but there are…

RIL Grand Plan – II

Converging hardware, content and experience… If one looks at the excitement around the RIL stock, it is not about petchem or refining but about telecom and more specifically about Jio. The crux here is to own the entire telecom value chain from infrastructure to hardware to software to content and eventually the entire customer experience.…

RIL Grand Plan – I

Using cash cows to drive the value cows… Nearly one year back when the idea of Reliance Jio was first announced, there was as much of skepticism as there was enthusiasm about the Jio launch. Most shareholders were not sure if the foray into telecom and the massive investments were really justified. At least, that…

IDFC and Shriram

The logic is good but practical difficulties abound… In one of the biggest merger announcements in the financial sector, IDFC and Shriram have agreed to come together to create a financial behemoth that spans banking and most aspects of financial services. While the merger is still subject to regulatory approvals, there is obviously a lot…

ONGC + HPCL

Remember, there are clear merits in oil consolidation… The government has almost made it clear that the ONGC – HPCL deal will be consummated in the month of July 2017 itself. While the actual contours of the deal are not yet clear, this should be seen as the first step towards the oil sector consolidating.…

TCS Q1 Results

There is bad news on the Tech Front If TCS, the most valuable Indian company, was judged by its latest quarter results, then it was surely an unalloyed disappointment. What actually disappointed an investor is not just the quarterly performance but the consistently weakening metrics over the last 12 quarters. Agreed that the global environment…

Trading Timings

Do equity markets really need longer trading hours? Over the last one week, the recently launched Metropolitan Stock Exchange of India (MSEI) managed to create quite a flutter. Its decision to extend trading timings for equities till 5pm did manage to stir the market out of its slumber. Eventually, the NSE and the BSE refused…

Rating Agencies

How SEBI plans to make them more effective… Over the last few years, the role of rating agencies has come in for a lot of criticism. The debate first started in the aftermath of the Global Financial Crisis in 2008 wherein rating agencies had entirely missed out the risk that institutions like Fannie Mae, Freddie…

Analyst Calls

Are we missing the bigger picture; and this is happening globally? Over the last few quarters, we are increasingly seeing analysts being off the mark on quarterly earnings estimates. This is not only happening in India but also across most other major geographies. Recently, we have also seen analysts going awfully wrong on estimating the…

GST Build-up

Understanding the crux of anti-profiteering… As the nation readies for the launch of GST on an all-Indian basis on 01st July, there are a plethora of nuances that need to be addressed. One such question pertains to the all important idea of anti-profiteering. Here is what you need to know about the same… What is…