Gujarat is a capital of India’s entrepreneurs:Uday Kotak
“Gujarat is India’s entrepreneurship capital, believes Mr. Uday Kotak, Vice Chairman and MD, Kotak Mahindra Bank Ltd. Mr. Kotak was in Ahmedabad to inaugurate the annual international management conference – NICOM 2010, organized by the Institute of Management, Nirma University. The three-day conclave, which will revolve around the central theme of “Managing Finance: Sustaining Shareholder Value”, in the presence of Dr. Karsanbhai Patel, President, Nirma University.
“Domestic consumption and proper infrastructure are the key factors to propel the Indian economy into the higher growth trajectory. Similarly, India’s success story largely depends on educational inclusion. But increasing crude prices and acts by neighboring countries are the worrying factors,” Mr. Kotak said after inaugurating the conference.
Mr. Kotak said, “For sustaining shareholder value, prudence, simplicity and humility are must. At the same time, the companies should also focus on quality corporate governance for the purpose.”
While addressing the media, he said, “For the Indian economy, growth rate of around 8% seems quite possible for the year 2010-11. Indian consumers have come of age and are crossing the tipping point and moving up to the next level of Maslow’s hierarchy of needs. This augurs well for the economy, as it may lead to increase in domestic demand.” Emphasizing on the need of better infrastructure, he also said that if India wants to achieve a great success on economic front, more than 50% of the population should be educated.
On outlook for primary market, he believes that companies with strong fundamentals and fair valuation can be the driving force for this market. “For fund-raising, QIP will be in focus in days to come and India Inc will mop up around Rs 1.75-2 lakh crore from this market during 2010,” he added.
Giving advice to the retail investors, he said that for direct investment in the stock market, the investors must have due knowledge, otherwise they should park their money either through mutual funds or insurance companies. All the retail investors should invest with a medium term view and if they can learn the art of patience, they can appreciate their capital up to five times.
Commenting on withdrawal of stimulus packages, he opined that gradual withdrawal in non-destructive manner is the best option. He expects RBI to initiate gradual measures to tighten the liquidity and reverse repo rate to go up from 3.25% to 4-4.5% along with 100 to 120 basis point increase in interest rates.
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January 12th, 2010 at 10:27 AM
I am interested to work with DOCOMO
December 21st, 2010 at 9:54 AM
Respected Mr Uday Kotak
I fully appriciate your views on Sustaining Shareholder value,prudence,simplicity and humility and your strong views on QUALITY CORPORATE GOVERNENCE.I also fully endorse your views. I am sure if all follow these guidelines Investors would be delighted.
May I pose a simple question ?
I have invested in three Kotak Funds sponsered by Kotak Mahindra bank Ltd / Kotak Subsidaries. I have repeatedly brought to your notice in writing officially to you, as well in my personal communication as to how I have been DUPED by WEALTH MANAGEMENT OF KOTAK MAHINDRA BANK LTD.I have lost in CRORES.I have not even received an acknowledgement from you nor any action has been taken by you.I have provided all supporting documents to you.
May I request you to keep up to your statement of need for GOOD CORPORATE GOVERNENCE and undo the grave harm done to me.
Warm Regards
Rajan Manchanda
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IMPORTANT
Mr. Kotak was in Ahmedabad to inaugurate the annual international management conference – NICOM 2010, organized by the Institute of Management, Nirma University. The three-day conclave, which will revolve around the central theme of “Managing Finance: Sustaining Shareholder Value
Mr. Kotak said, “For sustaining shareholder value, prudence, simplicity and humility are must. At the same time, the companies should also focus on quality corporate governance for the purpose.”