Categories
Links

Linkfest: 03 October, 2018

Some stuff I am reading today morning:

All eyes on RBI (Mint)

Oil shock has already started in the Emerging Markets (BQ)

PSU IPOs get cold shoulder from investors (ET)

Airbnb in India (Fortune)

Amul’s focus on dark chocolates (BS)

On midcap and smallcap returns (80-20 Investor)

Is it time to buy? (Deepak Shenoy)

Exception to the rule (Of Dollars & Data)

The start of the loonie Bull Run? (Macro Tourist)

How to beat the Index (John Rogers)

Categories
Ads

The First Ad of M&M

Source: Anand Mahindra

This remarkable ad was published on 8th November 1945.

Note that it does not talk about any products or services…only about the Company’s Values and Principles.

Categories
Links

Linkfest: 02 October, 2018

Some stuff I am reading today morning:

Govt takes control of IL&FS (Mint)

Why no oil price cut is Modi’s smart move (ET)

RBI cracks the whip on private Banks (BQ)

Smallcap Index Cycles (Nooresh)

Interview with Udayan Mukherjee (MC)

Company Profile: Avenue Supermarts (Forbes)

The Interview with Howard Marks (Tim Ferris)

GE’s $500 Billion Market Wipeout (BQ)

Trump calls India “Tariff King” (CNBC)

How Indian Americans came to run half of America’s motels (NatGeo)

Categories
Excerpts

Govt steps in to save the markets

Source: Press Release, Ministry of Finance

The restoration of confidence of the money, debt and capital markets, the banks and financial institutions in the credibility and financial solvency of the IL&FS Group is of utmost importance for the financial stability of capital and financial markets. There is an emergent need to immediately stop further financial defaults and also take measures to resolve defaulted dues to the claimants. This would require a combination of measures of asset sales, restructuring of some liabilities and fresh infusion of funds by the investors and lenders. The confidence of the financial market in the credibility of the IL& FS management and the company needs to be restored. There appears to be significant liquidity gap in the Company as estimated liabilities might not have any corresponding revenues / capital flows presently. In the circumstances, replacement of the existing management by the new management appeared to be most necessary and immediately required to be done for restoring that confidence and to avoid any suboptimal liquidation of assets.       

The Government, after analysing the emerging situation of the IL&FS Group come to the conclusion that the governance and management change in IL&FS Group is very necessary for saving the Group from financial collapse, which required an immediate change in the existing Board and management and appointment of a new management. Continuance of the present Board had become prejudicial to the interests of the company and its members and this management was affecting public interest because of its adverse impact on financial stability and making capital markets so adversely affected. Therefore, the National Company Law Tribunal (NCLT) was approached today by the Government under section 241 read with 242 of the Companies Act, 2013 to order supersession of the present Board of Directors of the IL&FS and its substitution by the new Board of Directors.

Towards this end, the Government is committed to ensure that ILFS Group receive much needed temporary liquidity support.  It is hoped that financial institutions would be supportive for providing urgent liquidity. The Government would also take all necessary steps to ensure that the infrastructure and other productive sectors of the economy continue to get financial resources to maintain the growth momentum of the Indian Economy, the fastest growing economies in the world.

 

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ForecastingFolly Tweets

Forecasting Folly-Yes Bank Edition