Sharekhan Just Went Bollywood! Launches MoneyFLIX, World’s First Financial Movies Platform

Sharekhan Education, a separate entity under Sharekhan, one of the largest brokerage houses in India, has unveiled its maiden edutainment platform - MoneyFLIX - to lead a digital revolution in financial education in the country.

Catering to both, the digitally native millennials and the not so millennial, the platform will offer financial modules with a generous sprinkle of entertainment that aims to keep viewers engaged and hooked. Learning through entertainment and stories is not an entirely novel concept. In fact, it has been part of our tradition for ages, in the form of epics, fables and parables, driving home key values. Teaching consumers about money through ‘edutainment’ seems like an effective way to demystify a complicated subject by using compelling and familiar concepts.

MoneyFLIX’s purpose is to educate and help both, new to market and experienced investors & traders to better understand finance and consequently enable them to better take advantage of financial market opportunities. 

To start with, the platform already has nearly 100 videos ranging from being as small as 5 minutes in duration to almost up to 30 minutes in duration and this number is set to double within the first year itself. These movies cover topics from the simplest Investing principles all the way upto complex trading strategies in a bollywood styled manner.

Embedded with key features such as subtitling in local languages, the ability to capture voice notes on the go & easy references to important points by the click of a button, this state of the art edutainment platform has many technology offerings and thus expects to improve learning and retention.

On the occasion, Rahul Ghose who heads MoneyFLIX said: “The integration of technology in the financial services industry has been radical in uplifting customer experience. However efforts towards literacy have often been complex and hence, the idea was to create content that even millennials resonate with.

This is a significant step that emboldens the ideology and commitment to empower retail investors in the market. This new digital-first endeavour would help us take investing and trading education to even the remotest parts of the country.”

MoneyFLIX ’s yearly subscription for the platform will be at a special price of Rs 1,990+G.S.T. and the monthly subscription will be at Rs 990+G.S.T. Subscribers will have access to the entire premium content of the platform as well as access to 10min video snippets on fundamentals of trending companies, called MoneyFLIX Bytes. MoneyFLIX has ensured something for everybody - anyone who walks through the site will get to enjoy and learn from a vast pool of free movies and tutorials on Trading and investing.

MoneyFLIX APP is available on Google PlayStore.

iOS – App to be released in the end of the year

About Sharekhan Education:

Started over a decade back in the year 2010, our unique approach towards professional financial education helps create a distinctive learning platform for traders as well as investors and help them learn the skills necessary to trade and invest confidently like the professionals. Over the course of the last decade we had over 100,000 people from various walks of life who have attended our workshops and have trained more than 17000 people across the country.

We set up our first education center in Mumbai and since then we have expanded to 6 locations across the country namely, Bangalore, Ahmedabad, Hyderabad, Chennai and New Delhi with traders & investors having experienced our unique hands-on education across the country. Our courses cover a spectrum of trading styles and asset classes. One can learn Short Term Trading, Swing Trading, Position Trading & Pro active Investing, using an array of asset classes namely stocks, options, futures and currencies.

About Sharekhan  

Sharekhan has been founded in 2000 and is a full subsidiary of BNP Paribas, a leading European banking institution. Sharekhan services more than 20 lakh clients aggregating more than 45,848 Cr of assets*, operates via 142 branches all over India and more than 3050 franchisees. It provides equity & derivatives execution, DP services, Portfolio Management, Mutual Funds & Corporate Deposits. Sharekhan executes on average more than 8 lakh trades/day** and performed more than 170 CR trades since inception.

*AUM as of 30th June 2020

**Trades as average in Q1 of 2020

Yes Bank Set for Major Comeback with Additional Fund Raising Through the FPO Offer from July 15

Yes Bank's Rs 15,000 crore follow-on public offer (FPO) is set to hit the markets on 15 July. The bank has announced the floor price to be Rs 12 with a cap of Rs 13 per share, which is half of Friday's closing price of Rs 25.50. The pricing is attractive for new investors but there's more to understand before one invests in it.

Details on FPO The issue price is placed at Rs 12-13 per equity share. The FPO will open for anchor investors on 14 July and for all other categories of investors, the offer period will be July 15-17, 2020. Yes Bank's Capital Raising Committee (CRC) of the Board of Directors will meet on 14 July to allot shares to successful anchor investors who have pursued the offer and also determine an allocation price. A discount of one rupee per equity share will be given to the eligible employees of Yes Bank bidding in employee reservation portion. 

A maximum of Rs 200 crore worth of shares has been reserved for the employees of the bank. Interested investors can place bids in lots of 1,000 equity shares. The FPO is by the issue of fresh equity. State Bank of India (SBI), the largest stakeholder in Yes Bank, said last week that its central board has given approval for a maximum investment of up to Rs 1,760 crore in the FPO of Yes Bank. Background on Yes Bank and the FPO Amid rising debt and management issues, the government had approved RBI's (Reserve Bank of India) bailout plan for Yes Bank on 13 March 2020. 

Under the plan, Yes Bank received around Rs 10,000 crore from eight Indian financial institutions, including SBI, ICICI Bank, Kotak Mahindra Bank, HDFC, Axis Bank, Bandhan Bank, Federal Bank and IDFC First Bank, via the equity route. Back in March, the reconstructed bank's board had approved plan to raise funds up to Rs 15,000 crore, by way of issuance of securities.   To boost capital levels in line with regulatory norms, Yes Bank's board is going to launch the FPO. The attractive discount given in the FPO will attract more market investors and reduce the burden on the consortium of banks that are the stakeholders. 

Further, experts say that Yes Bank chose the FPO route as it allows freedom in pricing the issue when compared to a Qualified Institutional Placement (QIP) route which requires pricing around recent market prices as per a formula set by SEBI (Securities and Exchange Board of India). Due to a rise in NPAs (non-performing assets) and subsequent provisioning for the same, Yes Bank could not meet RBI's capital adequacy requirements. 

At the end of March 2020, the Tier 1 capital ratio for the bank was 6.5 percent, much below RBI's requirement of 8.875 percent, calling for the newly formed board to approve a fundraising plan. For the March ended quarter, Yes Bank reported a net profit of Rs 2,629 crore after the private lender wrote down additional tier-1 bonds as part of its reconstruction scheme. If the write-down was excluded, the bank's loss for the quarter was at Rs 3,668 crore, against a loss of Rs 1,507 crore in the same period of last year. 

After reporting a record loss of Rs 18,564 crore for the December-ended quarter, Yes Bank said that it is deemed to be "non-viable or approaching non-viability and accordingly the triggers for a write-down of certain Basel III AT-1 bonds have been triggered". As part of its reconstruction plan, its additional tier (AT-1) bonds worth Rs 8,415 crore of the Rs 8,695 crore issued, were written down in March, affecting mutual funds and other investors who had invested in them for the high-interest rates.

Garware Technical Fibres Consolidated Net Profit Rises by 12% in FY20

Garware Technical Fibres Ltd. (Formerly Garware-Wall Ropes Ltd.), a leading manufacturer of technical textiles for the Indian and global markets, has announced its financial results for the quarter and twelve months ended 31st March 2020. 

Q4 FY20 Highlights:

* Consolidated Revenue reduced by 13% to INR 253 Cr in Q4 FY20 as compared to INR 290 Cr in Q4 FY19

* Consolidated Net Profit has decreased by 2.5% to INR 36 Cr in the quarter as against INR 37 Cr in the corresponding period of FY19

* Consolidated EPS for Q4 FY20 is at INR 16.32; this is a decline of 2.5% over Q4 FY19

* Standalone Revenue reduced by 16% to INR 244 Cr in Q4 FY20 as against INR 290 Cr in Q4 FY19

* Standalone Net Profit has increased by 100% to INR 73 Cr in the quarter as against INR 37 Cr in the corresponding period of FY19

* Standalone EPS for Q4 FY20 is at INR 33.45; this is a rise of  100% over Q4 FY19

FY20 Highlights:

* Consolidated Revenue reduced by 6% to INR 953 Cr in FY20 as compared to INR 1018 Cr in FY19

* Consolidated Net Profit has increased by 12% to INR 141 Cr as against INR 126 Cr in FY19

* Consolidated EPS for FY20 is at INR 64.22; this is an increase of 12% over FY19

* Standalone Revenue reduced by 7% to INR 945 Cr in FY20 as compared to INR 1018 Cr in FY19

* Standalone Net Profit has increased by 42% to INR 178 Cr in FY20 as against INR 126 Cr in FY19

* Standalone EPS for FY20 is at INR 81.35; this is a rise of  42% over FY19

Management Comments:

Stating his views on the results, Mr. Vayu Garware, CMD, Garware Technical Fibres Ltd. said, “The topline and profit performance for the fourth quarter was subdued due to the impact of the lockdown on account of the coronavirus. Particularly, dispatches of our international sales were significantly impacted despite having a strong order book. Domestic sales from depots around the country could also not take place as planned. While the current Covid-19 pandemic continues to pose significant challenges in the first quarter of this year, since approximately 60% of our business caters to end users who are in food related industries, we are hopeful of a reasonable recovery in the second half of the year subject to any unforeseen issues.”

About Garware Technical Fibres Ltd. (Formerly Garware-Wall Ropes Ltd.): (BSE: 509557 / NSE: GARFIBRES)

Garware Technical Fibres Ltd. (formerly Garware-Wall Ropes Ltd.), an ISO 14001:2015 and ISO 9001:2015 certified company is a leading player in Technical Textiles specializing in providing customized solutions to its customers worldwide. Globally, the company is known for its applied innovation in the field of sports, fisheries, aquaculture, shipping, agriculture, coated fabrics and geo-synthetics. The company’s products are manufactured in state-of-art facilities at Wai and Pune and marketed in more than 75 countries.

Industry welcomes Manmohan Singh taking FM charge

Industry on Sunday welcomed Prime Minister Manmohan Singh taking charge of the Finance Ministry after P Chidambaram was appointed Home Minister, saying Singh as Finance Minister is known as architect of reforms that transformed the Indian economy.

Prime Minister directly involved himself in tackling the impact of the global credit crisis on the Indian economy. Amidst pressure on the exchange rate and crash in the stock market in the wake of the developments in Wall Street, Singh had appointed a committee under his charge to find a way out of the economic challenges.

"At the recent HT Leadership Summit, the Prime Minister had listed several initiatives under consideration of the government. These include fiscal measures like expenditure on infrastructure and monetary steps such as interest rates. All these relate to the Finance Ministry, which has come under his charge directly," Federation of Indian Chambers of Commerce and Industry Secretary General Amit Mitra said.

Mitra said Singh is the only one in the government who has served as Finance Minister, RBI Governor and Chief Economic Adviser.

Singh was also Secretary (Economic Affairs) and Deputy Chairman of the Planning Commission.

Assocham Secretary General D S Rawat said the "industrial confidence would get a boost" with the Prime Minister retaining the charge of the Finance Ministry.

Singh had gone to Washington to attend the G-20 meeting called by US President George W Bush, where he sought increased role of the developing countries in the new financial architecture after the global downturn.

Source:PTI

India's markets seen relieved; PM to caretake finance

India's markets will likely react positively on Monday when a cabinet reshuffle sees the prime minister take on the finance portfolio, just days after the nation was rattled by the deadly attacks on Mumbai.

India's economy showed its slowest pace of growth in nearly four years in the September quarter, and its rupee and stock markets have been pummelled by the global financial crisis.

Now, after three days of attacks by gunmen in the heart of its financial capital, Mumbai, in which nearly 200 people died, analysts say security and confidence will be the top priority.

With Finance Minister Palaniappan Chidambaram moving to the Home Ministry following the resignation of the home minister, analysts say Prime Minister Manmohan Singh, architect of early 1990s economic reforms, is probably the man for the job.

"There are serious concerns on the economy and the big challenge is going to be rebuilding confidence of investors," said Mahesh Rangarajan, political analyst in New Delhi.

"And there is a greater confidence in Singh because of his midas touch."

India's financial markets stayed shut on Thursday as security forces battled gunmen holed up in three locations in Mumbai's financial district.

The benchmark share index .BSESN gained 0.7 percent to 9,092.72 points when trading resumed on Friday, with expiry of options contracts leading investors to buy back shares.

BIG PICTURE

The index has plunged 55 percent this year, with foreign investors withdrawing a net $13.7 billion as the global market turmoil widened, and equity analysts criticised Chidambaram, saying he had not managed to keep the economy stable.

"But probably markets should open in the positive," said Deven Choksey, chief executive of brokerage KR Choksey.

Bond yields fell on Friday, as dealers anticipated interest rate cuts to shore up confidence and bolster the economy.

The central bank has slashed its key lending rate by 150 basis points to 7.5 percent since the global crisis swept through India's markets in October and the benchmark 10-year bond yield closed down 2 basis points at 7.07 percent.

"The market continues to anticipate rate changes," said Arvind Sampath, head of bond trading at Standard Chartered in Mumbai. "We are expecting the 10-year bond yield to trade in a 7.07-7.12 range."

Only the rupee came under pressure, shedding 1.2 percent to 50.09/12 per dollar, not far off a record low of 50.60 set earlier in November.

"Whatever has happened over the last few days is pretty serious. The first priority has to be that," A. Prasanna, analyst at ICICI Securities, said.

"I think the market will take a more big picture view and it is a positive development only. Nobody needs to second guess the PM's credentials, in his ability to run the ministry."

With only a few months likely to go before national elections, analysts were sceptical whether much could be done to shore up growth, which slowed to an annual 7.6 percent in the September quarter, a far cry from the 9 percent seen in the whole of the 2007/08 fiscal year.

Some expressed concern with the security issue and whether the prime minister's focus would be distracted, but others said Singh has already been more involved in running the economy as the financial crisis deepened.

Source: Reuters

Terror Attacks: Mumbai Will Emerge Stronger!

Each time Mumbai has been the target of a terrorist attack, it rebounds stronger and more resolute.

Mumbai, the commercial capital of India, comes under attack from terrorists yet again, at a time when the world's second-fastest growing economy is seen by many analysts to be a critical part of the solution in fighting a global recession.

Mumbai is one of the world's top 10 centres of commerce and contributes to about 5 percent of India 's GDP and accounts for 25 percent of the industrial output, 40 percent of maritime trade, and 70 percent of capital transactions to the economy. Mumbai's per-capita income is Rs. 48,954 ($990) which is almost three times the national average.

"Mumbai is a very resilient city," says Bundeep Singh Rangar, Chairman, IndusView Advisors Ltd., the India-focused cross-border advisory firm. "Each time it's been the target of a terrorist attack, it rebounds stronger and more resolute."

Post the July 11, 2006, Mumbai train bombings, for example, as a show of investor confidence, the Bombay Stock Exchange (BSE) had rebounded, starting the day with the BSE Sensex Index up by nearly 1 percent in morning trade. Foreign investors also retained confidence, with the Sensex up almost 3 percent at 10,930.09 at the end of the day's trade.

However, both the Bombay Stock Exchange and National Stock Exchange were closed today as the security personnel continue with their efforts to nab the terrorists.

India is set to register a strong growth of about 7.5 percent this financial year, a marginal drop from 9 percent that the country achieved last year when compared to emerging markets peer China that will drop to similar level from about 12 percent last year, its lowest since 1990, according to estimates.

This firm footing that the Indian economy finds itself in, has a lot to do with the contribution from Mumbai, its financial capital that brings 40 percent of foreign trade, 60 percent of customs duty collections, 40 percent of income tax collections, 20 percent of central excise tax collections, and Rs. 40,000 crore ($10 billion) in corporate taxes to the Indian economy.

This apart, the city hosts headquarters of a number of Indian financial institutions such as the Bombay Stock Exchange, Reserve Bank of India , National Stock Exchange, the Mint, as well as the corporate headquarters of many large Indian companies, including the three largest private sector companies: Reliance Industries, Tata Group and Aditya Birla Group, and numerous multinational corporations. Most of these offices are located in downtown South Mumbai which is the nerve centre of the Indian economy.

Strategic industries
Mumbai is home to Bollywood, the largest film making industry in the world; the Bhabha Atomic Research Center (BARC), which will see its role gaining significance once the Indo-US civil nuclear deal comes in to force.

Other prominent industry sectors in the city include aerospace, optical engineering, medical research, information technology, computers and electronic equipment, shipbuilding and salvaging, renewable energy and power.