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Easynomics

Easynomics

Experts: Adani's P/E At Stratospheric Levels, Group CFO Denies

Jan 31, 2023

Jugeshinder "Robbie" Singh, CFO of the Adani Group, talks financials with BTTV Managing Editor Siddharth Zarabi. Jugeshinder Singh claims that the company’s P/E is not excessive and is in line with world averages. However, because Adani is a high-growth infrastructure firm, P/E may even be a thousand times higher, he added. Here’s a slice from that exclusive chat

Will PSUs Continue Lending To Adani?

Jan 30, 2023

The Business Today Managing Editor Siddharth Zarabi quizzed Jugeshinder Singh, CFO of the Adani Group, on financing from public sector entities and whether institutions like LIC will continue to invest in Adani as experts raise concerns on the safety of public funding. Singh clarifies that the insurance behemoth has profited greatly from its investment in Adani and that organisations like itself have reliable systems in place to make decisions while simultaneously factoring in the risks.

Adani Group Responds On MSCI Issue

Jan 30, 2023

In an exclusive conversation with Business Today’s Siddharth Zarabi, Adani Group CFO Jugeshinder Singh says that the global index provider MSCI has not reached out to the company to seek their response over the Hindenburg Research report. When you emerge on the global stage as a large platform, there are growing pains. We have to deal with this maturely, says Singh in response to a question about MSCI seeking feedback on the said allegations

Why Is Adani-Total Looking For A New Auditor?

Jan 30, 2023

Why is the Adani Group re-evaluating its decision to hire a Global Audit firm for Adani-TOTAL Gas? Group’s CFO Jugeshinder Singh says switching auditing firms is a must for them, thereby enabling themselves to better meet global business requirements. In response to the claim made by Hindenburg Research on Shah Dhandharia, a small accounting firm, to audit the conglomerate, the company has stated that it is their duty to ensure locally produced, small businesses receive the boost they need to grow into large corporations.

Move Is Malicious Hit-Job On The FPO, Says Adani CFO

Jan 30, 2023

Adani Group CFO Jugeshinder Singh confirms to BTTV that the company has addressed 88 queries posed by the US-based short seller Hindenburg, claiming they have provided enough evidence to back each response. Out of the 88 questions, 68 are bogus and misrepresented, claims Singh.

Adani CFO Says FPO To Sail Through With Institutions Buying Majority

Jan 30, 2023

Days after a shocking $50 billion selloff across group stocks – Adani Group CFO Jugeshinder ‘Robbie’ Singh spoke with BTTV Managing Editor Siddharth Zarabi on the Rs 20,000 crore follow-on share sale of Adani Enterprises. Stating that he was confident the FPO is on track and sailing through, Singh said it will have smooth sailing with institutions subscribing to nearly the entire issue, as retail investor interest remains tepid. The issue price is not being lowered, and neither is the issue time being extended, with the FPO slated to close on Tuesday, he added. The company also said that it has answered all the 88 questions raised by Hindenburg Research, arguing that there were no governance issues with the group.

MONEY: A Zero-Sum Game?

Jan 06, 2023

Is money a zero-sum game? A new book by former CEA Krishnamurthy Subramanian and Krishnamurthy Vaidyanathan raises this question, with the authors stating that money, an indispensable part of our lives, determines our economic well-being. In any economy, money is an asset to “we the people” who own it and is a liability for the institutions that owe it. While establishing that money, thus, is a zero-sum game – there are no winners in this game without losers – the book explains how the money game is played. Understanding this zero-sum game is crucial as each one of us is a participant in this game. The book develops a new framework for money by combining our practical experience as bankers with the rigour of economics. Watch the exclusive conversation.

Weeks Ahead Of Budget Govt Is Set To Release GDP Forecast For This Fiscal

Jan 06, 2023

Earlier last month, the Reserve Bank of India lowered the country's GDP growth forecast to 6.8 percent for the current fiscal on account of continued geopolitical tensions and the tightening of global financial conditions. And Today Govt is all set to release India's economic growth forecast for this fiscal year, weeks ahead of Budget announcements. The estimates from the National Statistic Office is a key consideration for the policy proposals that Finance Minister Nirmala Sitharaman is planning. Tune in as BTTV’s Siddharth Zarabi speaks to Siddhartha Sanyal, Chief Economist & HoR, Bandhan Bank to decode the state of the economy.

From January 8, China Will Scrap All Quarantine Measures For Covid-19

Dec 28, 2022

China has maintained the strictest lockdown since 2020, and now the Chinese National Health Commission has announced that from January 8, China will scrap all quarantine measures imposed because of Covid-19, including requirements for inbound visitors, both foreigners and Chinese nationals. The country has also decided that Covid-19 will no longer be treated as a “Class A” infectious disease, which calls for stringent control measures, and has instead downgraded the management of the virus to “Class B,” which requires only basic treatment and prevention. So what is the impact of these moves going to be on the global economy and India? Will commodity prices including crude oil rise as a result of the Chinese economy firing up fully?

Why Were Chanda Kochhar,Deepak Kochhar, And Videocon Chairman Venugopal Dhoot Arrested?

Dec 26, 2022

Five years after the first allegations surfaced, the alleged ICICI Bank loan fraud case is back in the news with the CBI arresting Videocon group chairman Venugopal Dhoot on December 26 morning, two days after the agency arrested ex CEO and MD of ICICI Bank, Chanda Kochhar, and her husband Deepak. But what is the saga all about? Joining in on this episode of Easynomics is Hemindra Hazari, is a Securities and Exchange Board of India registered independent research analyst with over 25 years’ experience in the Indian capital markets. He has specialized in banking and the macro-economy.

How can India Inc prepare to avoid any large-scale disruptions?

Dec 23, 2022

With the global economy - already struggling with the war in Ukraine and stagflation risks, worries about the impact of another Covid-19 outbreak on the global supply chain is the burning question. A new Covid-19 wave has gripped China which is majorly driven by Omicron sub-variant BF.7. The neighboring countries are also facing a concerning rise in new infections, hospitalisations, and deaths. But will Indian business be impacted and how can India Inc prepare to avoid any large-scale disruptions? Join us for the exclusive conversation BTTV’s Managing Editor Siddharth Zarabi will have with FICCI’s newly appointed President, Subhrakant Panda, the Managing Director of Indian Metals & Ferro Alloys Ltd

Industrial Production Falls To -4% In October, CPI At 5.88%

Dec 13, 2022

India's consumer price inflation cooled to 5.88% in November mainly due to a moderation in food prices, showed government data on Monday. Retail inflation was 6.77% in October and 4.91% in November 2021. Inflation had stayed above the upper end of the Reserve Bank of India’s 2%-6% tolerance band until November and this has triggered 225 basis points of interest rate rises to the repo rate so far, taking it to 6.25%. Catch Siddharth Zarabi at Easynomics

Market Outlook 2023 With Sanjiv Bhasin, Director, IIFL

Dec 09, 2022

2022 has been a volatile year for markets both in India and globally. How will 2023 turn out to be for the Indian stock markets? What are the portends for the Indian markets? How will macro factors play out and what will be the impact of politics? What will the impact of populism and ‘revdinomics’ be? Be prepared for fiscally disastrous election promises in the run-up to 2024 #LokSabha polls #Congress stormed to power in #Himachal on the promise of turning the clock back by 18 years to the Old Pension Scheme AAP has already notified OPS in Punjab, but not yet implemented it. Congress-ruled Rajasthan and Chhattisgarh, as well as JMM-ruled Jharkhand, have already reintroduced the Old Pension Scheme. Recently, CAG data showed that expenditure on pension exceeds salary bills for three states and the centre in FY20. With inflation still being one of the key factors to watch out for, it would be interesting to see how things unfold and how swiftly central banks adapt to it. Indian markets have outperformed global peers by a margin. A lot of talks are happening around the recession hitting major global economies in 2023. The key point to note here is if the recession hits hard, then India will also face the heat and it will be very difficult for Indian markets to stay decoupled for long. That said, the Indian economy will still be one of the fastest-growing large economies in FY23 as well with GDP growth expected to be around 6.5-7%. With the macro uncertainty looming above us all, one should not be leveraged at these market levels and not be overly concentrated in any particular sector. Markets will have phases of correction helped by various global macro headwinds. The markets remain in overvalued zone and will have to show earnings upgraded to generate better returns at these valuations, says Srikanth Subramanian, CEO, Kotak Cherry.

Will Govt Give Income Tax Break On FDs?

Dec 07, 2022

A proposal submitted to the Finance Ministry, if included in next year’s budget could mean a big break for the middle class. The Indian Bank Association (IBA) is said to have petitioned the Finance Ministry to exempt income tax on interest earned from Fixed Deposits of up to Rs 5 lakh. Indian banks have been witnessing a much slower growth in deposits than in credit with a lot of people preferring investments in mutual funds and high-return insurance schemes. Currently, FD interest is taxed on the basis of the tax payee’s income slab. The only exemptions available on bank interest are under section 80TTA for individuals and 80TTB for senior citizens.

Will Reserve Bank Of India Hike Repo Rate By 35 Bps Or 50 Bps

Dec 06, 2022

The Reserve Bank's rate-setting panel started brainstorming for the next round of monetary policy amid expectations of a moderate interest rate hike of 25-35 basis points as inflation has started showing signs of easing and economic growth tapering. The RBI has hiked key benchmark lending rate by 50 basis points (bps) thrice since June over and above an off-cycle 40 bps increase in the repo in May. RBI governor Shaktikanta Das would be announcing the bi-monthly monetary policy on Wednesday (December 7) at the conclusion of the three-day of Monetary Policy Committee (MPC) meet. India's largest lender State Bank of India in a research report authored by Group Chief Economic Adviser Soumya Kanti Ghosh on Monday said: "We expect the #rbi to hike rates in smaller magnitude in December policy attuned to emerging market central banks and the overall rate-setting tone. A 35bps repo rate hike looks imminent. We believe at 6.25 percent, it could be the terminal rate for now".The current policy repo rate is 5.9 percent. Several other experts also expect the rate hike to be in the range of 25-35 basis points. And to decode the state of the economy further, Siddharth Zarabi, Managing Editor, BTTV speaks to Siddhartha Sanyal, Chief Economist & HoR, Bandhan Bank

Siddharth Zarabi In Conversation With ftcash's Deepak Kothari & Zaggle's Avinash Godkhindi

Dec 02, 2022

Unlike cryptocurrencies, the digital Rupee is issued in the same denominations as paper currency and coins. But how is the e-Rupee different from the UPI system, and how can you use RBI's e-Rupee? BTTV’s Managing Editor Siddharth Zarabi spoke to Avinash Godkhindi, MD & CEO, Zaggle, and Deepak Kothari, Co-founder, ft Cash.

Is The Indian Economy Cooling Down As Many Analysts Predict?

Nov 30, 2022

Gross domestic product data for the July-September 2022 quarter is to be out today with analysts having given a wide range of growth forecasts from 5.8 per cent to 7 per cent. Joins us live as BTTV's Siddharth Zarabi decodes the state of the economy with Rajani Sinha of CARE Ratings and Mitali Nikore of Nikore Associates

India Aims For Fewer GST Slabs: Revenue Secretary Tarun Bajaj

Nov 30, 2022

GST has brought a lot of discipline in the financial dealings of the corporate/individual sector. A company like HUL or ITC cannot sell goods and services without paying GST. It has helped in the white economy, ease of doing business, and matching of figures and calculations, Revenue Secretary Tarun Bajaj said in an exclusive conversation with Business Today TV Managing Editor Siddharth Zarabi. On being asked about the drawbacks of GST, Bajaj said, there is a need to look at whether GST rates can be shrunk. So, the difference between similar products is not there and they fall into one category rather than different categories, Bajaj said here.

“There Shouldn’t Be Arbitrage in Taxes:” Revenue Secretary Tarun Bajaj

Nov 30, 2022

In an exclusive interview with Business Today TV Managing Editor Siddharth Zarabi, Revenue Secretary Tarun Bajaj hinted at changes to income tax and capital gains tax regime. There are various asset classes and indexations are also subjective, he said, adding that there is need to simplify the capital gains tax regime. Talking about financial products, Bajaj said, people should invest because the product is good and, not let tax arbitrage be the only reason. Watch here.

Revenue Secretary Tarun Bajaj On The Old vs Alternative Tax Regime

Nov 30, 2022

A large number of taxpayers in India show an income of less than Rs 7 lakh per annum. There is a need to re-look at the whole tax scheme and come out with a scheme that has got less number of exemptions and maybe larger slabs. “I think if we do that, there will be a large number of people who will opt for it and, maybe at some stage the government can also think of having only one option rather than two,” Tarun Bajaj, Revenue Secretary said in an exclusive interview with Business Today TV Managing Editor Siddharth Zarabi. Bajaj also hinted at changes in income tax and capital gains taxation. Watch here to know more.

Exclusive Conversation With Revenue Secretary Tarun Bajaj Ahead Of Budget 2023

Nov 29, 2022

Next year’s budget, the last full budget before the general elections in 2024, could be the harbinger of big tax reforms. In an exclusive interview with Business Today TV Managing Editor Siddharth Zarabi, the Union Revenue Secretary Tarun Bajaj has hinted at changes in income tax and capital gains tax rules. He talks of the government looking at having uniform rules for indexation and various asset classes. The Revenue Secretary also stressed on the fact there should be no scope for arbitrage in taxes. Also, listen to the veteran finance ministry officer talk about the need for changes in personal income tax and the improvement which can be brought to the GST regime.