Corporate ethics was always at the forefront of valuation

Nov 12 2012, 09:23 IST
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SummaryBig talk: Raamdeo Agrawal, joint MD, Motilal Oswal Financial Services

decisions, have to forego some greedy benefits, pay more taxes, take care of minority shareholders and have to come out clean. Some will reform while other will just go down.

How do you see markets now?

The earnings season is better and has been a mixed bag. I think rupee will play an important role, if the government does not act, the rupee will slip. It is the invisible headmaster as we are now much more globally connected, even the government cannot act. Government currently is in such a situation where they are not able to honour their own words the laws are not firm, things are changing midstream and so you cannot project anything with certainty. I know that the economy is headed high and we will move up and do well but probably we can do better.

What do you think the government should do?

Any country is built on how it handles its savings. They need to see methodically how to use savings and look to use it to build businesses and infrastructure. If we dont use it properly we will flounder somewhere. Also there is a growing gap between private and public sector banks. An ownership change of these public sector banks will not only provide ample money to the government but these fantastic institutions will start conducting well and a lot of what we see a bad airline or a newspaper getting money those things will not be possible. Reform in the banking system is very important. The government can still own stakes in banks and will still have the power as it will be the regulator.

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