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About Deepak Shenoy

Deepak Founded Capital Mind, which mines financial data and provides analytics. Deepak is part of the core team that helps build, grow and keep our data platform up to date. He lives in Bangalore. Connect with him at deepakshenoy@capitalmind.in.
23 05, 2016

Which Companies Do Dolly Khanna, Ashish Kacholia and 17 Other Large Investors Own? Get the Big Whales Report Today!

By |May 23rd, 2016|Categories: General|0 Comments

Where do Rakesh Jhunjhunwala, Ashish Kacholia and other big investors put their money? The Big Whales Report from Capital Mind has this for you – downloadable and purchaseable now. (Note: Free for all full subscribers to Capital Mind Premium)

portfolios of top indian investors - march 2016 quarter

Buy This Report Now!

We have collected the investment portfolios of top 19 Indian […]

16 05, 2016

Macronomics: Strange Warnings in Macro Banking Data Shows Credit-Fed Housing Bubble As Industry Stalls

By |May 16th, 2016|Categories: Economy|Tags: , , , |0 Comments

The macro world of banking always fascinates us – here’s some graphs and data on how our banking situation is:

• Very Low Credit and Deposit Growth Will Hurt Bank Margins

• The Victim: Manufacturing Industry Growth Falls Off A Cliff

• And You Can’t Trade In India Either: Wholesale Traders Don’t Seem To Borrow As Much

• Meanwhile Banks are Fuelling the High Cost Housing Bubble

• Our View: […]

16 05, 2016

Trade Deficit at Lowest in 5 years for April, but Total Trade Slumps as Imports Crash

By |May 16th, 2016|Categories: Economy|Tags: , , , |0 Comments

India’s trade deficit has been the lowest in in about five years at a deficit of $4.85 billion.This is on the back of much lower imports and steady exports in the Month of April 2016. 

Exports and Imports

What’s changed? Imports have fallen much more than exports – but both are in negative territory.

Growth In Trade

The problem with falling […]

13 05, 2016

Inflation Jumps to 5.39% in April, Core Inflation Goes Back To Dangerous Territory

By |May 13th, 2016|Categories: Economy|Tags: , , |0 Comments

India’s inflation for April 2016 sprung a surprise: it went up to 5.39% as a surprise. Inflation CPI India May 2016

The worry really is food inflation. Housing inflation goes up in April as most government accommodation resets happen in April. 

CPI Components

Note that transport costs are also up.

Rural inflation, being more reliant on food, is […]

11 05, 2016

Chart: Bad Loan Percentages Rise for Nearly All Banks in FY 2016 And The Worst Is Yet To Come

By |May 11th, 2016|Categories: Analysis|Tags: , , , , , |2 Comments

A quick look at Banking results shows us a major deterioration in NPAs – both Gross and Net.

Gross NPAs = the loans that are 3 months (or more) delayed in principal or interest, as a percentage of all loans.

Net NPAs = Gross NPAs minus provisions, as a percentage of all loans (minus the loans already provisioned for). While calculating Net NPAs the banks can reduce any amount already collected (like […]

10 05, 2016

The Simplified Version: What It Means When Mauritius Based Investors Are Taxed in India From 2017

By |May 10th, 2016|Categories: Analysis|Tags: , |4 Comments

Mauritius Tax Treaty ChangesMauritius based entities that Invest in India – from Private Equity investors, VC funds, and investment pass-through vehicles (which issue participatory notes) will start to see taxation apply to them from April 1, 2017. This is due to a treaty change between India and Mauritius.

Here’s the full text of the treaty change.

Dude. Simplify.

Okay. Here’s the deal.

Currently, if you are a […]

10 05, 2016

Charts: Foreign Investors Buy Over 24,000 cr. in India in 2016 Till May

By |May 10th, 2016|Categories: Analysis|Tags: , |0 Comments

Foreign investors continue to like India but not quite as much as they did in March. After selling about 13,000 cr. worth equities in Jan and Feb, Foreign Portfolio Investors (FPIs) bought over 21,000 cr. in March, following it up with 8,400 cr. in April. That was just equity- they’ve even bought debt of 7,800 cr. in the two months (though, to be fair, much of that was because of […]

6 05, 2016

How To Start A Private Bank In India – RBI Drafts New Regulations

By |May 6th, 2016|Categories: General|Tags: , , |0 Comments

RBI start new banks regulations

RBI will allow banks to be created “on tap” in the private sector. Meaning if you qualify, you can go apply for a license – much like a driving license – and get one. The previous model was: you waited till the RBI told you it wanted people to bid for a license. This wait could […]

5 05, 2016

Podcast: The Ricoh Fiasco and the Parag IPO

By |May 5th, 2016|Categories: General|Tags: |3 Comments

We’re trying things everyday, and here’s a new format – a podcast! Vashistha and I have some fun things to say about what’s going on with Ricoh and then all we think of the Parag Food IPO:

5 05, 2016

Monthly Charts: Nifty and Sensex do 1% in April, But Don’t Sell in May And Go Away

By |May 5th, 2016|Categories: Analysis|Tags: , , , |4 Comments

The Nifty moved 1.4% up in April, which took teh annual return to just about flat (the index is down about 1.2% in 2016). We’ve now had two lousy months (Jan and Feb) and two good months (March and April) – with May already showing signs of recalcitrance.

Nifty Monthly Returns

The Sensex we have a longer history for:

Sensex <a href=[…]

26 04, 2016

Axis Bank Reveals Its Bad Loans Are Likely To Triple In Three Years in a Special Watch List

By |April 26th, 2016|Categories: Analysis|Tags: , , , |3 Comments

Axis Bank Results
Axis Bank
has revealed in its results today that seem shocking. For one, their profit fell for the quarter – a decline of about 1% year on year. For the full year, they were able to show a growth of 12% on EPS though, but much of that is because of the previous quarters.

[…]

25 04, 2016

Charts: Software Exports Fell 20% in March, Even as Jeweller Strike Rescues Rupee and Trade Balance

By |April 25th, 2016|Categories: Analysis|Tags: , , |0 Comments

The whole trade situation continues to suck. I mean big time.

India’s merchandise (physical goods) trade deficit narrowed to the lowest in nearly 5 years, at a tiny $5 billion for the month of March. However, this is largely because of the sudden drop in Gold imports, as Jewellers were on strike for most of March. The budget in 2016 introduced a clause requiring jewellers to pay 1% excise duty and […]

19 04, 2016

Banning Surge Pricing Doesn’t Change Anything For Uber or Ola Drivers

By |April 19th, 2016|Categories: General|Tags: , , |31 Comments

Our last set of articles on Uber and Ola got some serious attention – the Economics of Using Uber in India and the Counter Arguments.

Since then things have seen sudden changes:

  • Uber and Ola have seen regulation hit them – with Karnataka banning surge pricing, and mandating fees on cabs and sharing services alike.
  • Plus, while they can enlist cabs, they can’t own the vehicles, or prevent drivers from migrating […]
18 04, 2016

The Simplified Version of Why TCS has to Pay Epic $940 Million For Stealing Data

By |April 18th, 2016|Categories: General|Tags: , , |9 Comments

TCS has been fined $940 million – around Rs. 6300 cr. at current USD to INR levels – for stealing documents belonging to Epic Systems. This includes punitive damages of $700 million, above a regular fine of $240 million.

Let’s simplify the case for you:

  • There’s a non-profit healthcare company called Kaiser Permanente (KP), which has 150,000 employees.
  • KP licensed software from Epic, a private company in the US that provided healthcare management systems. […]