"The Fortune 500 companies have no restrictions, no seatbelts. They are the ones who can seriously invest in India and that is an opportunity which in my opinion is at a turning point," Rana Kapoor, MD and CEO of Yes Bank said.
The investments are going to come from the foreign direct investment (FDI) route.
Rana Kapoor
Founder & CEO
Yes Bank
In an interview with CNBC-TV18's Shereen Bhan, Rana Kapoor, MD and CEO of Yes Bank spoke about how Modi's visit to the US has spurred a lot of confidence and why investment by the Fortune 500 companies in India is the need of the hour . He further adds that with the sentiment improving back home, one can expect the investment cycle taking-off in the next six months.
Below is the verbatim transcript of the interview
Q: What PM Narendra Modi has been able to do in terms of convincing investors to review their decision to invest in India, put in significant amounts of money into India. Do you believe he has been able to strike the right cord?
A: The best part is that there is a lot of confidence, conviction and the quality of the communication has been very good. So he is building the bridges, he is creating a commitment with fortune 500 companies. It is not just about politics or geopolitics. The circumstances today which are very important is how Modi and Indian business is able to motivate Fortune 500 companies. The Fortune 500 companies have no restrictions, no seatbelts. They are the ones who can seriously invest in India and that is an opportunity which in my opinion is at a turning point.
Q: People will invest in India only if they see the economy turning around as well. Yes of course the government needs to do more in terms of ease of doing business etc but also want to see a real turnaround as far as the economy is concerned. Credit growth continues to be sluggish. By when do you really see the investment cycle taking off?
A: The underlying investment cycle will improve with the atmospherics, with the overall sentiment and confidence in the economy is really picking up. So the next step is to get the investments going. The investments are going to come from the foreign direct investment (FDI) route and slowly and steadily as Indian balance sheets overcome recession, so it will take a while, six months in my opinion by April. Very important for derisking right now is that there should be M&A, there should be decongestion of balance sheets and that is the need of the hour for derisking of the economy. Once you get the foreign investments going, then you can press on the peddle steadily.
Yes Bank stock price
On October 01, 2014, at 09:20 hrs Yes Bank was quoting at Rs 560.10, up Rs 1.60, or 0.29 percent. The 52-week high of the share was Rs 634.25 and the 52-week low was Rs 280.40.
The company's trailing 12-month (TTM) EPS was at Rs 39.81 per share as per the quarter ended June 2014. The stock's price-to-earnings (P/E) ratio was 14.07. The latest book value of the company is Rs 172.49 per share. At current value, the price-to-book value of the company is 3.25.
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