Fugitive Legislation

The Draft Bill is far-reaching but should not be misused… In the immediate aftermath of the $2 billion PNB fraud caused by Nirav Modi of Firestar Diamonds, the government has approved the draft of the Fugitive Economic Offenders Bill in the cabinet. This is a far-reaching bill and gives the government broader powers to punish…

GDP Q3 Estimates

There is a bounce, but now it needs to sustain… The GDP estimates for the third quarter of the financial year came in at 7.2%. That is a sharp rise from 5.7% in the first quarter and 6.5% in the second quarter of the year. While the bounce in GDP estimates is evident, there is…

Jio in the Black

How Jio reported profits in 15 months flat… When Reliance Jio, the telecom arm of Reliance Industries, reported a net profit (you heard it right) in 15 months flat, there was already a sense of anticipation. The company had reported an operating profit but a net loss in the September quarter. For the quarter ended…

Trade Data

Exports flatter but trade deficit remains a major worry… After a disappointing first 6 months of the current fiscal, the trade data for November finally showed a semblance of recovery. Of course, imports were higher but exports grew much faster. However, the trade deficit continues to be at elevated levels and that remains a major…

Investor’s Dilemma

We may have seen the beginning of a major market re-rating… The day after the bank recapitalization package was announced, there was a frenetic rally in PSU banking stocks. This rally not only took the Bank Nifty to a new high but even propelled the Nifty index to an all-time high beyond the 10,300 levels.…