Latest news with #KashishTandon
Al Bawaba
28-05-2025
- Business
- Al Bawaba
Markaz hosts exclusive investor session on private credit trends and portfolio strategies
Kuwait Financial Centre 'Markaz' recently hosted an exclusive event for clients to hear insights into private markets and private credit from BlackRock, one of the world's largest investment management firms. Tailored for qualified and professional investors, the session formed part of Markaz's ongoing efforts to equip clients with timely market updates and access to global investment strategies. The event reflects Markaz's long-standing commitment to offering innovative, best-in-class investment solutions, while reinforcing the growing importance of private credit as a potentially resilient and strategic asset class in today's dynamic market session saw strong interest and participation from attendees, reflecting the rising demand among regional investors for differentiated and income-generating investment opportunities. The interactive dialogue helped address specific portfolio needs and reinforced the relevance of private credit in today's high-rate, uncertain on the event, Mr. Kashish Tandon, Executive Vice President, Investment Advisory at Markaz, said: 'We are proud to offer our clients, not just access to international markets, but also insights into new and alternative investment avenues that are shaping the global financial landscape. Events like these reflect our dedication to innovation and diversification, and we look forward to introducing more tailored solutions in the near future.'Sheikh Humoud S. Al Sabah, Senior Vice President, Investment Advisory at Markaz, stated: 'What makes this moment particularly significant is the timing, investors are rethinking their portfolio construction as traditional asset classes experience turbulence. Private credit stands out for its ability to provide attractive risk-adjusted returns with built-in structural protections. Over the past year, we've seen growing client appetite for strategies that combine yield, resilience, and diversification. Engagements with our partners, one of which is BlackRock, align with our focus on delivering intelligent exposure to global private markets, and it demonstrate how our 50-year legacy continues to evolve to meet the needs of today's investors.'Mr. Jean Christophe Rey, Managing Director, Head of EMEA Private Debt at BlackRock, shared his insights during the session, stating: 'We believe structural shifts in capital markets, driven by regulation, investor demand, and innovation, are accelerating the move toward more allocations to private markets. Private credit sits at the heart of this evolution. Its yield, duration, and downside protection make it a natural fit for long-term capital. BlackRock expects the global private debt market to exceed $4.5 trillion by 2030, supported by rising demand for bespoke financing and resilient income.'The discussion highlighted the continued strength and growing relevance of private credit in today's investment landscape. The talk pointed to record-low defaults and improved payment-in-kind (PIK) dynamics as indicators of strong borrower performance and disciplined underwriting. Despite ongoing volatility in public markets, private credit strategies have maintained relatively stable Net Asset Values (NAVs), underscoring the asset class's defensive nature. The ability to generate consistent, attractive yields, supported by strong structural protections and active portfolio management, positions private credit as a key component in modern diversified portfolios, offering resilience, income stability, and potentially downside protection amid economic uncertainty. With a 50-year legacy in asset management and investment banking, Markaz has consistently demonstrated its ability to adapt and innovate in response to evolving market dynamics. Its private credit portfolio, launched in 2024, reinforces Markaz's commitment to creating innovative investment solutions that offer access to international markets, diversification across asset classes, and risk-adjusted returns. By strengthening strategic relationships with global partners, Markaz enables its clients to access a wealth of knowledge and high-quality investment products.
Mint
22-05-2025
- Business
- Mint
Indias IndusInd rebounds on bets bank has come clean on accounting issues
By Kashish Tandon and Siddhi Nayak BENGALURU/MUMBAI (Reuters) -Shares of India's IndusInd Bank rebounded from sharp falls on Thursday on bets that the worst was behind the private lender, a day after it logged a record quarterly loss, hit by past accounting discrepancies. Its shares rose as much as 3.5% to 796.70 rupees to be the top percentage gainers on the benchmark Nifty 50. They declined as much as 6% earlier, making them the worst performers on the index. IndusInd disclosed in March that years of incorrect accounting of internal derivative trades led to a $230 million hit to its accounts. Separately, an internal audit of its microfinance business found that around $80 million was incorrectly recorded as interest over three quarters. On Wednesday, the lender posted its largest-ever quarterly loss and said it suspects fraud by some employees led to accounting lapses. The bank's financials reflect full and fair representation of all the concerns brought to its attention, its Chairman Sunil Mehta said in a post-earnings conference call on Wednesday. Yes Securities said the latest quarter seemed like IndusInd's "attempt to come clean." Jefferies analysts said that while uncertainty and low profitability will remain concerns for the bank, "historical trends indicate that current valuations are near lows". At least six brokerages downgraded their ratings on the stock after the results and 13 slashed their price targets, on concerns over profitability and uncertainty over management succession. IndusInd's CEO, Sumant Kathpalia, and deputy, Arun Khurana, stepped down last month. "There is no clarity on new management team, how they gain investor confidence, improve profitability and importantly, whether they will execute better than peers," HSBC said. (Reporting by Kashish Tandon in Bengaluru and Siddhi Nayak in Mumbai; Editing by Mrigank Dhaniwala)
Yahoo
22-05-2025
- Business
- Yahoo
India's IndusInd rebounds on bets bank has come clean on accounting issues
By Kashish Tandon and Siddhi Nayak BENGALURU/MUMBAI (Reuters) -Shares of India's IndusInd Bank rebounded from sharp falls on Thursday on bets that the worst was behind the private lender, a day after it logged a record quarterly loss, hit by past accounting discrepancies. Its shares rose as much as 3.5% to 796.70 rupees to be the top percentage gainers on the benchmark Nifty 50. They declined as much as 6% earlier, making them the worst performers on the index. IndusInd disclosed in March that years of incorrect accounting of internal derivative trades led to a $230 million hit to its accounts. Separately, an internal audit of its microfinance business found that around $80 million was incorrectly recorded as interest over three quarters. On Wednesday, the lender posted its largest-ever quarterly loss and said it suspects fraud by some employees led to accounting lapses. The bank's financials reflect full and fair representation of all the concerns brought to its attention, its Chairman Sunil Mehta said in a post-earnings conference call on Wednesday. Yes Securities said the latest quarter seemed like IndusInd's "attempt to come clean." Jefferies analysts said that while uncertainty and low profitability will remain concerns for the bank, "historical trends indicate that current valuations are near lows". At least six brokerages downgraded their ratings on the stock after the results and 13 slashed their price targets, on concerns over profitability and uncertainty over management succession. IndusInd's CEO, Sumant Kathpalia, and deputy, Arun Khurana, stepped down last month. "There is no clarity on new management team, how they gain investor confidence, improve profitability and importantly, whether they will execute better than peers," HSBC said. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Yahoo
15-05-2025
- Business
- Yahoo
Waters Corp's India business boosted by rush for weight-loss drugs
By Kashish Tandon BENGALURU (Reuters) -U.S.-based Waters Corp, which makes medical equipment used in clinical testing, has seen a spurt in demand from drugmakers in India rushing to develop their versions of popular weight-loss drugs, a senior executive told Reuters. Semaglutide, the active ingredient in Novo Nordisk's Wegovy and diabetes medicine Ozempic, goes off patent in India in 2026, paving the way for cheaper versions of the drugs. Local drugmakers including Biocon, Cipla, Dr. Reddy's and Lupin have been racing to make generic versions of these drugs to grab a share of the global market estimated to be worth $150 billion in the next decade. "India will be the leading player in GLP drugs as well because we are in generics and we have manufacturing facilities to support," said T. Anil Kumar, vice president of Water's India business, referring to the class of weight-loss drugs known as GLP-1 agonists. Waters, based in Milford, Massachusetts, makes laboratory equipment, software and other tools used in clinical testing by drugmakers and biotech companies. Its India unit contributes about 8% to Waters' sales. "A lot of work is coming to India... so I see this as an opportunity for us," Kumar said. Waters is expecting revenue growth percentage in the double digits in India on the back of these growth drivers, he added. Waters Corp operates nine sites in India with over 430 employees. The company is headquartered in the tech hub of Bengaluru, where it also opened a Global Capability Center in 2023. The company expects annual growth contribution of 70-100 basis points from its India business in the near-term and a 30 basis points boost from testing for GLP-1 drugs. Last week, the company raised its annual profit forecast and reported better-than-expected quarterly results on higher demand in Asia and the Americas.
Yahoo
15-05-2025
- Business
- Yahoo
Waters Corp's India business boosted by rush for weight-loss drugs
By Kashish Tandon BENGALURU (Reuters) -U.S.-based Waters Corp, which makes medical equipment used in clinical testing, has seen a spurt in demand from drugmakers in India rushing to develop their versions of popular weight-loss drugs, a senior executive told Reuters. Semaglutide, the active ingredient in Novo Nordisk's Wegovy and diabetes medicine Ozempic, goes off patent in India in 2026, paving the way for cheaper versions of the drugs. Local drugmakers including Biocon, Cipla, Dr. Reddy's and Lupin have been racing to make generic versions of these drugs to grab a share of the global market estimated to be worth $150 billion in the next decade. "India will be the leading player in GLP drugs as well because we are in generics and we have manufacturing facilities to support," said T. Anil Kumar, vice president of Water's India business, referring to the class of weight-loss drugs known as GLP-1 agonists. Waters, based in Milford, Massachusetts, makes laboratory equipment, software and other tools used in clinical testing by drugmakers and biotech companies. Its India unit contributes about 8% to Waters' sales. "A lot of work is coming to India... so I see this as an opportunity for us," Kumar said. Waters is expecting revenue growth percentage in the double digits in India on the back of these growth drivers, he added. Waters Corp operates nine sites in India with over 430 employees. The company is headquartered in the tech hub of Bengaluru, where it also opened a Global Capability Center in 2023. The company expects annual growth contribution of 70-100 basis points from its India business in the near-term and a 30 basis points boost from testing for GLP-1 drugs. Last week, the company raised its annual profit forecast and reported better-than-expected quarterly results on higher demand in Asia and the Americas.
