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India Equity Research Reports, IPO and Stock News
Visit http://indiaer.blogspot.com/ for complete details �� ��
IDFC Emerging Stars Conference 2011
We at IDFC Securities recently hosted the 6th edition of our flagship conference – the
“Emerging Stars Conference 2011”. With the current state of equity markets raising ample
questions in the minds of investors (and corporates looking to contain further value
erosion!), the conference saw strong participation, with more than 1700 meetings being
conducted between managements of 54 companies and over 225 investors from across
the globe. The conference format, focused on mid and emerging companies which could
be potential game changers, augured well with the bottom-up approach of investing which
we believe will play out in the current year.
The spaces that generated the maximum interest were related to Consumerisation,
Infrastructure and Pharma as also other stock-based themes. The conference proved to
be an important platform for addressing critical apprehensions among investors
(clarifications on the most recent corporate changes in Jain Irrigation) and also gave
investors a peep into potential value creating businesses (interaction with Tribhovandas
Bhimji Zaveri – upcoming IPO).
Amidst the ambitious plans of Corporate India, we thought it would only be pertinent to
touch upon the underlying investing styles for the “eventful” Indian markets. We held a
panel discussion on “Corporate Governance versus Profiteering” led by the most
respected financial industry veterans, including Samir Arora (Helios), Sunil Singhania
(Reliance Capital), Vikram Kotak (Birla Sunlife), Satish Ramanathan (Sundaram Mutual),
Nitin Bajaj (Fidelity Investments) and Sashi Krishnan (Bajaj Allianz). With the issue being
as “controversial” as one would envisage, the steam and depth in the discussion (around
relevant anecdotes from Corporate India!) forced us to take the discussion off media
coverage! De-stressing at the conference came in the form of some entertaining work by
the famous illusionist, Edumonto, and a skit by Bharat Dhabolkar.
The recent issues related to corruption in the bureaucracy and corporate governance for
Corporate India has no doubt put investors, particularly FIIs, on the worrying fence. On
the positive side, the recent developments have surfaced “latent concerns”, which
intuitively means that the clean up was due and is for the positive going forward. While
the overall investment mood remains cautious on the back of inflation fears, liquidity
tightening and capital draw-downs by FIIs, our sense is that the bottom-up strategy will
prevail for 2011.
Panel discussion topic: Corporate governance versus profiteering
Panelists:
• Samir Arora – Helios Capital
• Sunil Singhania – Reliance Mutual
• Vikram Kotak –Birla Sun Life Insurance
• Satish Ramanathan –Sundaram Mutual
• Nitin Bajaj – Fidelity Investments
• Sashi Krishnan – Bajaj Allianz Life
The discussion focused on the following:
• Large-cap investing (assuming more transparency), v/s emerging stars (flexible corporate
governance!)
• Starkness of investing styles: How important is corporate governance while investing?
• What has been the return profile of companies with perceived corporate governance issues?
• Experiences as an investor with “failed” corporate stories due to governance issues
• Choice between capital protection and capital growth
• Do markets and investors have short memories? Do untouchables of the past remain so
perennially?
The panel discussion hosted some of India’s most influential minds, people with more than 15
years experience of markets, having witnessed corruption scams, corporate governance overhang
eroding stock values, and the impact of ‘perceptions’ on markets. Interestingly and ironically, as
one of the panelists pointed out, most companies with ‘perceived corporate governance issues’ find
a place among the top performing stocks over the last decade. Does that mean that bad corporate
governance is good, or that good corporate governance is bad? With the discussion covering some
of the biggest names of corporate India (with relevant anecdotes!) and the impact of past events
(and scams!) on markets, our investors and managements were treated to a good perspective of
how these influential minds read corporates actions.
India Equity Research Reports, IPO and Stock News
Visit http://indiaer.blogspot.com/ for complete details �� ��
IDFC Emerging Stars Conference 2011
We at IDFC Securities recently hosted the 6th edition of our flagship conference – the
“Emerging Stars Conference 2011”. With the current state of equity markets raising ample
questions in the minds of investors (and corporates looking to contain further value
erosion!), the conference saw strong participation, with more than 1700 meetings being
conducted between managements of 54 companies and over 225 investors from across
the globe. The conference format, focused on mid and emerging companies which could
be potential game changers, augured well with the bottom-up approach of investing which
we believe will play out in the current year.
The spaces that generated the maximum interest were related to Consumerisation,
Infrastructure and Pharma as also other stock-based themes. The conference proved to
be an important platform for addressing critical apprehensions among investors
(clarifications on the most recent corporate changes in Jain Irrigation) and also gave
investors a peep into potential value creating businesses (interaction with Tribhovandas
Bhimji Zaveri – upcoming IPO).
Amidst the ambitious plans of Corporate India, we thought it would only be pertinent to
touch upon the underlying investing styles for the “eventful” Indian markets. We held a
panel discussion on “Corporate Governance versus Profiteering” led by the most
respected financial industry veterans, including Samir Arora (Helios), Sunil Singhania
(Reliance Capital), Vikram Kotak (Birla Sunlife), Satish Ramanathan (Sundaram Mutual),
Nitin Bajaj (Fidelity Investments) and Sashi Krishnan (Bajaj Allianz). With the issue being
as “controversial” as one would envisage, the steam and depth in the discussion (around
relevant anecdotes from Corporate India!) forced us to take the discussion off media
coverage! De-stressing at the conference came in the form of some entertaining work by
the famous illusionist, Edumonto, and a skit by Bharat Dhabolkar.
The recent issues related to corruption in the bureaucracy and corporate governance for
Corporate India has no doubt put investors, particularly FIIs, on the worrying fence. On
the positive side, the recent developments have surfaced “latent concerns”, which
intuitively means that the clean up was due and is for the positive going forward. While
the overall investment mood remains cautious on the back of inflation fears, liquidity
tightening and capital draw-downs by FIIs, our sense is that the bottom-up strategy will
prevail for 2011.
Panel discussion topic: Corporate governance versus profiteering
Panelists:
• Samir Arora – Helios Capital
• Sunil Singhania – Reliance Mutual
• Vikram Kotak –Birla Sun Life Insurance
• Satish Ramanathan –Sundaram Mutual
• Nitin Bajaj – Fidelity Investments
• Sashi Krishnan – Bajaj Allianz Life
The discussion focused on the following:
• Large-cap investing (assuming more transparency), v/s emerging stars (flexible corporate
governance!)
• Starkness of investing styles: How important is corporate governance while investing?
• What has been the return profile of companies with perceived corporate governance issues?
• Experiences as an investor with “failed” corporate stories due to governance issues
• Choice between capital protection and capital growth
• Do markets and investors have short memories? Do untouchables of the past remain so
perennially?
The panel discussion hosted some of India’s most influential minds, people with more than 15
years experience of markets, having witnessed corruption scams, corporate governance overhang
eroding stock values, and the impact of ‘perceptions’ on markets. Interestingly and ironically, as
one of the panelists pointed out, most companies with ‘perceived corporate governance issues’ find
a place among the top performing stocks over the last decade. Does that mean that bad corporate
governance is good, or that good corporate governance is bad? With the discussion covering some
of the biggest names of corporate India (with relevant anecdotes!) and the impact of past events
(and scams!) on markets, our investors and managements were treated to a good perspective of
how these influential minds read corporates actions.
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