India - Politics, Industrials, IT and Large Caps, EMAlpha

Pankaj Sharma

India - Politics, Industrials, IT and Large Caps

Thematic (Sector/Industry)

<ul class=""><li>Infosys CEO Vishal Sikka has resigned after facing continuous verbal assault from one of the co-founders, N R Narayana Murthy.</li><li>In October 2016, Tata Sons board replaced Cyrus Mistry as its Chairman because Ratan Tata was not happy with him.</li><li>There are interesting parallels between the Infosys case and the story at Tata Sons.</li><li>Who is right and who is wrong is a grey area but one size does not fit all.</li><li>The lesson for investors is that ownership and managerial discords are always bad.</li><li>These sudden transitions also create attractive buying opportunities in the market.</li><li>Infosys is a good bet after a 10% correction today. </li></ul>

Infosys CEO Vishal Sikka has resigned after facing continuous verbal assault from one of the co-founders, N R Narayana Murthy.In October 2016, Tata Sons board replaced Cyrus Mistry as its Chairman because Ratan Tata was not happy with him.There are interesting parallels between the Infosys case and the story at Tata Sons.Who is right and who is wrong is a grey area but one size does not fit all.The lesson for investors is that ownership and managerial discords are always bad.These sudden transitions also create attractive buying opportunities in the market.Infosys is a good bet after a 10% correction today. 

Tata Sons = Infosys, Ratan Tata = Narayana Murthy and Cyrus Mistry = Vishal Sikka

Asia focused research insights & advisory, Asia Advisors

Vinay Patel

Asia focused research insights & advisory

Asia Advisors

Asia Advisors is an independent financial advisory and research firm working closely with corporates and institutions to provide consulting solutions & research insights. We provide advisory services including capital solutions, business strategy and investment insights.
Firm is headed by Vinay Patel who has close to two decades of experience in research and business development at large, international investment banks such as HSBC and ICICI Securities. Led research efforts in areas of Macroeconomics, Asset Allocation & Investment Strategy for close to a decade in global & domestic research teams. As a business head in Singapore, advised top global investment management firms & Portfolio managers in Asia for India related investments.
Vinay was recently joined by Swapnil Manish, an investment banker and ex-ecommerce entrepreneur with more than 12 years of experience. Swapnil was the TMT banker at BNP Paribas and was part of several large M&A and ECM transactions (Bharti-Zain, Bharti Infratel IPO, Schneider-Zicom among several others). He's also had a stint as an ecommerce entrepreneur having launched & led Mumbai's first online grocery player.

Expectations on economic reforms from Modi government are running high after the big win in Uttar Pradesh. Political analysts are expecting this win to ease Modi's chances for another term at national elections in 2019 and that would give him total 7 year period to push for reforms (In his victory speech Modi himself said he is now looking for delivering by 2022 - the 75th year of Indian Independence). Amidst the euphoria of Modi's victory, we would like to highlight some of the ground realities…

Expectations on economic reforms from Modi government are running high after the big win in Uttar Pradesh. Political analysts are expecting this win to ease Modi's chances for another term at national elections in 2019 and that would give him total 7 year period to push for reforms (In his victory speech Modi himself said he is now looking for delivering by 2022 - the 75th year of Indian Independence). Amidst the euphoria of Modi's victory, we would like to highlight some of the ground realities…

Investors Need To Be Patient With Reform Momentum Even As Modi Win Ensures Policy Continuity

Ruling party BJP has won a landslide victory in the largest state of Uttar Pradesh (UP) thereby putting to rest any doubts over the adverse impact of demonetisation on the electoral prospects of the party. Performance in UP is impressive as the opposition had formed an alliance to fight Modi but still lost poorly.  Most political analysts have been caught on the wrong foot as they predicted a hung assembly while the results show that Modi wave seen during the General elections continues. We…

Ruling party BJP has won a landslide victory in the largest state of Uttar Pradesh (UP) thereby putting to rest any doubts over the adverse impact of demonetisation on the electoral prospects of the party. Performance in UP is impressive as the opposition had formed an alliance to fight Modi but still lost poorly.  Most political analysts have been caught on the wrong foot as they predicted a hung assembly while the results show that Modi wave seen during the General elections continues. We…

Landslide Win for Modi in UP Elections;Upper House No.s to Cross 100 Mark by 2018, a +ve for Reforms

In a surprise move, the Central bank (RBI) today maintained the policy rate at the current level of 6.25% but changed the monetary policy stance to neutral. The 6 member Monetary Policy Committee (MPC) was unanimous in its decision to hold rates. The consensus was again caught on the wrong foot as majority expected a rate cut. Key rationale behind the move has been the adoption of 4% inflation target for the next financial year (ending March 2018). Even as current CPI inflation at 3.4% is well…

In a surprise move, the Central bank (RBI) today maintained the policy rate at the current level of 6.25% but changed the monetary policy stance to neutral. The 6 member Monetary Policy Committee (MPC) was unanimous in its decision to hold rates. The consensus was again caught on the wrong foot as majority expected a rate cut. Key rationale behind the move has been the adoption of 4% inflation target for the next financial year (ending March 2018). Even as current CPI inflation at 3.4% is well…

RBI Spoils the Bond Market Party - Prices Unlikely to Scale the Peaks Seen After Demonetization

The Government presented a fiscally sound budget and avoided any major steps to boost expenditure and mitigate the shock of demonetization. Catching the street by a little surprise, the government stuck to the Fiscal responsibility act and reduced the fiscal deficit target for the year ending March'18 to 3.2% of GDP (vs 3.5% in March'17).  Relief has been provided on the personal income side to low and middle-income earners (people with salaries in Rs 0.25m-0.5m range) where the tax has been…

The Government presented a fiscally sound budget and avoided any major steps to boost expenditure and mitigate the shock of demonetization. Catching the street by a little surprise, the government stuck to the Fiscal responsibility act and reduced the fiscal deficit target for the year ending March'18 to 3.2% of GDP (vs 3.5% in March'17).  Relief has been provided on the personal income side to low and middle-income earners (people with salaries in Rs 0.25m-0.5m range) where the tax has been…

Budget a Non-Event as Govt Plays Safe; Falling Yields to Shift Asset Allocation to Equities

India

Tata Chemicals Ltd. manufactures salt and salt by-products, alkalies and heavy chemicals, pharmaceuticals, fertilizers and agro-chemicals. The Company's salt products include common salt, pure salt and gypsum salt.  Heavy chemicals include soda ash, caustic soda and hydrochloric acid. Tata Chemicals' pharmaceuticals include bromides of ammonium, sodium, potassium and ethyl.

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Tata Chemicals (TTCH IN)

Tata Sons = Infosys, Ratan Tata = Narayana Murthy and Cyrus Mistry = Vishal Sikka

Infosys CEO Vishal Sikka has resigned after facing continuous verbal assault from one of the co-founders, N R Narayana Murthy. In October 2016,...

Pankaj Sharma

Investors Need To Be Patient With Reform Momentum Even As Modi Win Ensures Policy Continuity

Expectations on economic reforms from Modi government are running high after the big win in Uttar Pradesh. Political analysts are expecting this...

Asia Advisors

Landslide Win for Modi in UP Elections;Upper House No.s to Cross 100 Mark by 2018, a +ve for Reforms

Ruling party BJP has won a landslide victory in the largest state of Uttar Pradesh (UP) thereby putting to rest any doubts over the adverse impact...

Asia Advisors

RBI Spoils the Bond Market Party - Prices Unlikely to Scale the Peaks Seen After Demonetization

In a surprise move, the Central bank (RBI) today maintained the policy rate at the current level of 6.25% but changed the monetary policy stance to...

Asia Advisors

Budget a Non-Event as Govt Plays Safe; Falling Yields to Shift Asset Allocation to Equities

The Government presented a fiscally sound budget and avoided any major steps to boost expenditure and mitigate the shock of demonetization....

Asia Advisors

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