Matters came to a head when Rana Kapoor refused to give a board seat to Shagun Gogia in Yes Bank, the daughter of Ashok Kapur and Madhu Kapur (sister of Rana Kapoor’s wife, Bindu Kapoor). Since 2013, Madhu Kapur, who inherited the promoter holding from husband Ashok Kapur, has been fighting a legal battle for the joint nomination right and a board seat for her daughter, Shagun. … [Read more...] about End of an era as Kapurs step down as Yes Bank promoters
Ye olde slugfest
The bad news is that we miss spending our money. You know, that metal moth we saw in a back-alley shop on one of our rural getaways; how we loved buying it and hanging it on our garden wall, and casually bringing up the story of where we saw it first. If making money was a joyless affair, spending it was always a thrill. We don’t get the same pleasure out of shopping today; the virus has been a buzz-kill. We do wander online, adding to the cart, but a little voice in our heads nags us constantly: ‘Do we need this, do we really need this?’ … [Read more...] about Someone do the costing
Higher treasury income (stake sale of Yes bank) and NIM expansion led to strong 29% sequential growth in Federal Bank’s Q4 operating profits. Higher provisions (incl. `930m Covid-related) led to a ~32% q/q decline in earnings. Asset quality and PCR improved. Ahead, higher build-up of stress would keep credit cost high and profitability subdued in the medium term. … [Read more...] about Buy Federal Bank target of Rs 55: Anand Rathi
"According to executives, Sikka's product mindset did not work for the company and eventually led to his departure. Then came Parekh’s appointment at a time the company was looking for an executive who would bring in stability," said Pareekh Jain, founder, Pareekh Consulting. … [Read more...] about Wipro’s new CEO: Can foreign executives succeed in Indian IT firms?
"The launch is in line with our vision to create a ladder of Bharat Bond ETFs across various maturities on the yield curve. This will provide more options for investors to match their investment needs with different time horizons,” Radhika Gupta, CEO of Edelweiss Mutual Fund said. … [Read more...] about Bharat Bond ETF second tranche to launch in July: All your questions answered