It’s the first half of the Festive Season wth Navratras and Vijaydashami followed by Eid accounting for school closures and Eid today , usually lost in the break , accounting for a Market Holiday as it does every year in the middle of the week. As usual the reminder that US also had a short week for markets but it was closed for Columbus Day on Monday and it would have been a longer weekend if we adopted such a rationalisation. It is however what worries me that I will take up only today as it is probably more nettlesome now or at least I can imagine so.
The AAP will get a new fractured coalition in place in New Delhi and even as Bennett Coleman and others tackle the problem of sufficient workforce of college educated journalists, there are oher fractious developments that all arise from the same problems of all and sundry from every discipline xcused to violently fish market into any discussion stopping them from learning about any subject coherently and destroying the remaining memes for growth. This is not the bloomberg/Google video meme but the meme on the flip side of the Breadth of career progression as the first step of primacy of education is more deeply entrenched than statistics would admit to India Inc. That problem of statistics aside, the youth in urban centers are definitely a step closer to youth in cosmopolitan centers than they were and probably as the rural hinterland always keept ties of commerce with small towns the Indian villarge is more a part of the highway story now than it was before the days of 3 PL (GPS/RFID) Logistics and Satellite TV
Consumption data aside, rural inflation is still under 10% and though one can imagine the editorial changing perhaps claiming to a new generation ( that appears for CAT within a month), ducking HDFC Bank ‘s sterling results under the TCS performance was probably more than just a journalistic travesty. HDFC Bank performance was a good showing esp as Derivatives volumes has clipped up to INR 5 Bln in volumes and securitisaion though much maligned can relaly spread liqudity around. The Bank showcased a bottom of the cycle 16% retail in growth even as NBFCs like Bajaj Finserv and Bajaj Finance jumped lending and bottomlines like any other growth quarter , ensuring the success of festive season this month and next with the big Deepavali celebrations and then the roll into Christmas and New Year with school holidays.
HDFC Bank may have lost cosmopolitan markets but has not lost its magic and keeps the 30% bottomline growth faith within a reasonable band because of its power of distribution keeping the primacy of retail in the bank at 53% share even as Corporate and Institutional Bank steps up to the plate. Going further into the 20s it would not hurt the bank to get an existence outside ‘branch banking’
‘Siwai ki kheer’ is always a welcome break on Eid and though larger family celebrations are passe in the overall meme of urbanisation, there are hangouts and the 0% durable loans esp on smartphones and cheap car loans , and Bollywood will help in no small measure.
Results season is active today with Bajaj Auto, INOX, MindTree and Heidelberg Cement taking pride of place in almost every hourly slot in the day. Unfortunately we do not have results radio.
- India Bank Earnings: HDFC Bank Q2 2013 jumps 30% on year (awardz.wordpress.com)
- India Morning Report: Banks earnings, GDP scares markets despite inflows (awardz.wordpress.com)
- Eid Holidays (aurkhb.wordpress.com)
- No Eid holiday for Goa Assembly: Congress leader slams Speaker (dnaindia.com)
- India Morning Report: Infosys still chooses to report into the weekend (awardz.wordpress.com)
- Will Arvind Kejriwal’s Aam Aadmi party succeed in the Delhi Vidhan Sabha -2013 elections? (thetimesofdelhi.com)
- President greets nation on Eid-ul-Azha (vancouverdesi.com)