My Best Pick 2014

KP Singaravelu

Head researcher of Riviera capital is bullish on Yes Bank, thanks to its robust book and attractive margin

Published 9 years ago on Jan 04, 2014 6 minutes Read
RA Chandroo

In the middle of 2013, concerns emerged on the US Federal Reserve tapering, with international markets fearing that the Fed would start pruning its monthly bond purchase of $85 billion, which had found its way to emerging markets. This led to a free fall in the currencies of markets that had high current account deficits, including India. The Reserve Bank of India (RBI) countered this by sucking out liquidity, leading to an increase in short-term interest rates for a few months. The markets corrected sharply and banking stocks plummeted as they were perceived to be impacted by higher borrowing costs.