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ARTICLES

Akash Prakash writes a fortnightly column for The Business Standard – one of India’s leading financial newspapers.

2017

Formalisation of the Indian economy
Govt has to find a way to channel the upcoming revenue buoyancy towards job creation
13 Mar, 2017

No news is good news
Markets were braced for bad news hence the rally
1 Feb, 2017

Determining the dollar in Trump’s America
Watch for early clues on the extent to which the US President will go to cap the currency’s rise
23 Jan, 2017

2016

Tax trauma
Why a new CBDT directive will sound the death knell for the home-grown India-dedicated fund industry
29 Dec, 2016

Cognizant, Elliott and Indian IT
Elliott Capital’s letter to Cognizant, detailing how the latter can raise its share price, has many lessons for Indian IT firms
1 Dec, 2016

Demonetisation: Impact on investors
It is a very positive move as, in the longer term, it will formalise the economy further and change deep-rooted behaviour
17 Nov, 2016

China after the Plenum
Beijing has bought itself and the world economy short-term stability, probably at the cost of much greater pain down the road
03 Nov, 2016

Profit persistence of Indian companies
Buying a great company at any price may not deliver the returns because the competitive advantage period of most is declining
20 Oct, 2016

Not the time to chase yields
Bond markets suggest low yields are here to stay. Equity markets seem to indicate yields may be headed higher. Who is right?
8 Sept, 2016

Complacency in global markets
If you are a global investor, the responsible thing to do is cut risk and raise cash, no matte how painful it may be in the short term
25 Aug, 2016

A world of ice
Given the rise in populism globally, get ready for more fiscal support, which will lay the ground for inflationary pressures
28 July, 2016

Reflections on PSBs
Systemic reform of government-owned banks will ultimately have a huge positive impact on capital productivity in our economy
16 June, 2016

India’s equity returns story
There are good reasons to believe that India is at the start of a long period of growth for equities
19 May, 2016

A stabilisation in China
The revival in the economy is led by investment & growth in real estate, but the country is not yet out of the woods
5 May, 2016

A turn in the economy
Just when most investors were giving up, signs of a revival are growing
7 April, 2016

Be careful what you wish for
Caution is needed while going after wilful defaulters & cronyism
17 March, 2016

Credible but badly packaged
The market will breathe a sigh of relief that there was no change in the long-term capital gains tax, or that rumours of gift tax and estate duty re-appearing were plain wrong
29 February, 2016

The changes banks need
Public sector banks’ need for capital should be used to make fundamental reforms to their governance and management
18 February, 2016

Stress tests for Indian banks
To calm investors, RBI must come out with a clear and transparent stress test for the major Indian banks
4 February, 2016

Hold on tight
Stock market correction presents a real chance for everyone to improve the quality of their portfolio
21 January, 2016

COP21, stranded carbon and India
India must burn whatever coal it can, while leapfrogging to a viable zero-carbon ecosystem
7 January, 2016

2015

China – consumers at the centre
There is uncertainty in most investors’ minds as to whether China is transitioning to a new growth model or simply collapsing
10 December, 2015

Preparing for the December hike
There seems to be limited risk of the Fed raising rates repeatedly & rapidly, or of other central banks turning off the taps anytime soon
26 November, 2015

Too early to give up
In spite of growing disillusionment, there is still enough time for the Narendra Modi government to turn things around
12 November, 2015

China – slowing or stalling?
The Chinese economy is not collapsing, it is shifting to different growth drivers which the old metrics used to judge it do not pick up
22 October, 2015

China is not a disaster
The world economy’s growth engine is slowing, but not collapsing
10 September, 2015

Not a time to panic
We are entering a period of turbulence, but you can profit off that volatility
August 27, 2015

A week in India
The government has a plan to turn around the economy
June 25, 2015

Musings on earnings
Unless we see a pickup in public spending, the capex cycle will not revive, and without that, earnings will not accelerate
June 11, 2015

A world without policy lifeboats
It is six years since the financial crisis. If another hits soon, the world has no tools left to deal with it
May 21, 2015

Exit FIIs, enter Indians
Yes, foreign institutional investors can’t stay over-invested in Indian equities – but domestic investors are ready to pick up the slack
May 7, 2015

A test of conviction
There are clear cracks in the case for short-term bullishness on India – but the longer term still looks hopeful
April 23, 2015

The dollar consensus
Most are convinced the dollar will keep strengthening – so it’s useful to ask: could they be wrong?
March 26, 2015

For US equities, good days are ending
Money will flow to Europe, Japan – and the emerging markets, including India
March 12, 2015

Budget will keep the bulls happy
February 28, 2015

Manage your Budget expectations
A 1991-style big-bang Budget is not realistically likely – but here’s the minimum that most investors expect to see
February 26, 2015

It’s all about earnings
Normally, analysts are too bullish on earnings forecasts – but the opposite will hold true for India this year
January 22, 2015

Look now to domestic investors
Foreign institutional investors will not bail out Indian markets in 2015
January 8, 2015