This issue of Artha is the first one after Budget 2018. Since lots have already been written on the budget, we have decided not to overload you with more opinion on budget. Indian financial sector is passing through a challenging time. Massive bank frauds and large volume of non performing assets in the balance sheet of most of the banks are the talking point in any deliberations on Indian banking industry today. The Securities and Exchange Board of India (SEBI) has this month tightened the regulations of financial markets. In order to curb ‘advantage’ of algo traders who are operating from co-location facilities, SEBI has decided that co-location services will be shared and algo traders will now have to pay congestion charges for choking the limit order book. In order to ensure that derivatives and cash markets move in tandem, SEBI has stipulated that derivatives on stocks, that do not meet certain eligibility criteria, would have to be settled through physical delivery. This stipulation may bring down number of stocks that are presently traded in derivatives segment of the markets. The impact of these recent changes will surely be felt in near future.
The first article is a multi-part essay that discusses various valuation technique applicable for start-ups. This will cover various methods of valuation of start-ups from idea stage to public listing. This article looks at valuation of ideas. The second article discuss the decision taken by Supreme Court of India of banning of BS-III compliant vehicles. This will lead India achieving emission standard as par developed countries. However, the path is not so smooth. The third piece deals with the loose monetary policy of Central Banks which is a sign of return of inflation and growth in an inter connected global economy and the near identical mindset of the central bankers. In the fourth article, the author highlights that in a market where traders are self-taught, deep-learning networks, if something goes wrong, how do we know who to blame?.
The Market Watch section in this issue deals with the banking frauds that have come to light recently.
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Ashok BanerjeeDownload full magazine