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…

Sector-Picks 2018

What will be the key sectoral stories to watch out for in 2018? Come year-end and the general question is, “What about markets”? This time will be no different. Let us look at 6 sectors that will be big stories in 2018… Agri-Sector – Well, the BJP is taking no chances after Gujarat. You can…

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…

Fed Rate Hike

This 25 bps could just be the beginning in a series of hikes… As the 2-day meet of the Federal Reserve concluded on Wednesday, the rate hike of 25 basis points was almost a fait accompli. Analysts and economists had long seen this coming. What was more significant was that this was Janet Yellen’s last…

GE versus Railways

Why Indian Railways must walk away from the $1.6 billion deal… There has been a major furor around the Railway Ministry decision to renegotiate the diesel engine purchase from GE. Piyush Goyal has rightly questioned the logic of spending on diesel engines at a time when electric engines make a lot more economic sense. GE,…

Oil heads higher

But will it sustain beyond the Saudi Aramco IPO? One commodity that has been quietly heading upwards is crude oil. Brent crude is already above $57/bbl and is looking all set to touch the $60/bbl mark. How much higher than $60 it goes is uncertain at the current point of time. US shale is not…

Tata Sons

The consolidation of power has just about begun… Back in 1992 when the original satraps like Rusi Mody, Darbari Seth and Nani Palkhivala posed the first major challenge to the Tatas, Ratan Tata learned an important lesson. It was necessary to consolidate his ownership over Tata Sons. What Ratan Tata must have learned from the…