Ladies & Gentlemen..
Finatics kicked off on a high and enthusiastic note. This event is latest addition in our series of events.
The event was thrown open to all, including the engineers who aspire to be the finance managers in future. Its not just that. The Ph.D. senior level people also participated in the event.
The online quiz has received registrations from many B schools. We thank you for your encouragement shown in such a short notice of time. Some of the puys are busy doing summers & a few more already graduated and are about to join the corporate world.
The webcast link 'VITRA' will be activated by 06 April 3 pm.
But, to let you know what all it happened today, pls go through the following lines.
FINATICS DAY-1
The event was inaugurated by the Prof. N. K. Sharma, the Director for IME Department, IIT Kanpur. The HawkEye was the first event to begin with.
SBI's HAWK EYE (LECTURE SERIES)
LECTURE 1
Mr. Sandeep Saxena, an alumnus of IIT-K, IIM-L and currently the MD of 7avenues and CEO of 7to9 Retail kicked of the proceedings. He started off with the premise sea changes are taking place in the world at the level of the consumer and interactions between common-interest groups. Financial Companies have to sit up and take note of these ground realities. Mr. Sandeep traced these changes to three important factors,
changing demographics,
consumer lifestyles and expectations,
shifting trends in financial evaluation and the simplicity versus complexity barrier.
He cited the interesting example of Pipalyah, a town near Jabalpur. Advent of satellite TV has transformed the views and perception of the small town citizen. Convergence and rapid dissemination of information is changing the traditional investor in terms of risk appetite and his range of choices. Businesses are facing the brunt in the form of failure of traditional channels of distribution and the need to engage customers in a more focussed manner. Mr. Sandeep Saxena concluded by saying that, “The challenge for financial companies is to develop products to transcend these barriers and to nurture leadership that can think beyond shareholder values as the destination.”
LECTURE 2
Prof. Anoop Singh (Consultant for World Bank and other Big firms, Government bodies etc.) of the Department of Industrial and Management Engineering, delivered the second lecture of the day on the topic ”Securitization and Infrastructure Engineering”. Financing of Infrastructure development was the major thrust of his lecture. Prof. Anoop Singh talked about the 120 $ billion financing gap between the requirements and resources. The domestic bond market is dominated by Govt. Borrowings with very little left to corporate entities and financial institutions. Absence of credit risk transfer mechanisms has constrained investment by insurance firms in the infrastructure sector. Securitization offers an innovative method to plug this gap. In this regard a watershed event was the enactment of the SARFAESI Act in 2002. He deliberated on the working of the securitization transaction model. Prof. Anoop Singh then gave some early examples of securitization in the Indian Scenario – L&T’s construction of a captive power plant, settlement of dues by state power boards. He concluded the lecture by saying that securitization offers a promising avenue for infrastructure funding in the case of Ultra Mega Power Projects (UMPP) and transport corridors.
(There was a break for HawkEye. Finnoisseur was held after the lunch session)
PNB's PANEL DISCUSSION - Finnoisseur
The topic of the discussion was
“Vibrancy of Financial Markets in India”.
Prof. A. K Mittal (Former visiting faculty to Kellog School of Management, President Operations Research Society, Vice President and Board Director for Quality Circle of India) started off the discussion with a remark saying that it would be prudent to restrict the scope of the discussion to the equity markets as the bond markets are not mature enough in India to draw any substantive conclusions. The root causes of the current volatility can be traced to excess liquidity due to influx of flows from FIIs. Extreme variations in P/E ratios are a sign of immaturity of the market.
Mr Sandeep Saxena, MD of 7avenues, made the observation that the investor crowd primarily consists of retirees and pensioners who want to play catch-up with the economy. Speculation is small-investor driven phenomenon.
Mr Deepak Jain, DSP Merrill Lynch, responding to a question averred saying that, sometimes institutional investors are also guilty of speculation. He also added that it may be a cultural phenomenon. People are more interested in making high capital gains rather than regular long term gains.
Bharat Kumar Nandini, UP Stock Exchange, made the observation that the equity culture is fully developed only in certain regions of the country and that thoughtful investment approaches are not yet a fully understood process.
Prof Jayanta Chatterjee (FPM IIMC; VP of Rockwell), IME Department, expounded on his personal investment strategies and said that equities, bonds and debt funds did not offer very distinct choices in terms of returns. Later the panel took questions from the audience on various issues such as the role of the regulator and activity in the securities market.
The audience never sat idle throughout the proceedings. As the time was running out, it was requested the students to ask the queries during the breaks. After all, we were there to probe into and find.
(Post evening Tea Break, HawakEye resumed with the Lecture-3 from Mr. Deepak Jain, Merrill Lynch)
The next post cover the Lecture-3 & Day-2 events.
--- Team Finatics
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