Forum Views - March 2024

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HEERAL SHAH

Barclays

Fostering

Diversity

MAHIMA DOMINIC

AdaniConnex

Brokerage Firms and

Blockchain/Data Center Tech

RAJANI SINHA

CareEdge Group

Interim Budget: Capex and

Fiscal Discipline Balances

NEHA SHAH

MentorMyBoard

Diverse Boards: Catalysts

for Corporate Change

RITIKA KUNGWANI

Social Nazaria

Branding in Entrepreneurial Age

UMA SISTLA

Ex SBI-SG Global Securities

SGBs The Way to

Invest in Gold

NEHA AHUJA

Advocate

Understanding Pure Agents

ABBY GHAFOOR

arc Management Consulting

Brand Equity: Unleashing

Financial Value

PARINA MUCHHALA

Nishith Desai Associates

Improved Information

Dissemination by Listed Companies

INSIDE:

Regulating Depositories: Securing the Vaults

Retail Investors: New Strength to Indian Capital Market

Equity as an Asset Class

Make Work-Life

Balance a Priority

BOMBAY STOCK EXCHANGE BROKERS' FORUM (BBF) | MUMBAI, INDIA

MARCH 2024 | VOLUME: 12 • ISSUE NO. 12 •

International Women's Day

Inspire Inclusion

2024

FORUM VIEWS - MARCH 2024

EXECUTIVE COMMITTEE

GOVERNING BOARD MEMBERS

BOMBAY STOCK EXCHANGE BROKERS’ FORUM (BBF)

GOVERNING BOARD 2023 - 24

FORUM VIEWS - MARCH 2024

Ajit Sanghvi

MSS Securities

Pvt. Ltd.

Cyrus Khambata

Paytm

Money Ltd.

Ashish Rathi

HDFC

Securities Ltd.

Harin Mehta

M/s. V. C.

Mehta

Kamlesh Jhaveri

Jhaveri

Securities Ltd.

Ketan Marwadi

Marwadi Shares

& Finance Ltd.

Rajiv Kejriwal

SBICAP

Securities Ltd.

Neeraj Choksi

NJ India

Invest Pvt. Ltd.

Parth Nyati

Swastika

Investmart Ltd.

Dr. Pravin Bathe

Angel

One Ltd.

Purav Fozdar

Axiom Share

Broking Pvt. Ltd.

Kranthi Bathini

WealthMills

Securities Pvt. Ltd.

Vivek Gupta

GEPL Capital

Pvt. Ltd.

Virender Mansukhani

Mansukh Securities

and Finance Ltd.

Uttam Bagri

BCB Brokerage

Pvt. Ltd.

Tejas Khoday

Fyers Securities

Pvt. Ltd.

KISHOR KANSAGRA

Chairman | BBF

Pragya

Securities Pvt. Ltd.

KUSHAL SHAH

Jt. Secretary | BBF

Ratnakar

Securities Pvt. Ltd.

RAJIV CHOKSEY

Treasurer | BBF

KR Choksey Shares

& Securities Pvt. Ltd.

ANURAG BANSAL

Vice Chairman | BBF

SMC Global

Securities Ltd.

NIRAV GANDHI

Secretary | BBF

JM Financial

Services Ltd.

Saurabh Jain

SSJ Finance &

Securities Pvt. Ltd.

S. P. Toshniwal

Sunlight

Broking LLP

Roopkishor Bhootra

Anand Rathi Shares &

Stock Brokers Ltd.

Santosh Jayaram

GROWW

Shripal Shah

Kotak

Securities Ltd.

Ajay Kejriwal

Choice Equity

Broking Pvt. Ltd.

Disclaimer: This magazine is meant for information purposes only and does not constitute any opinion or guidelines or recommendation on any course of action to be followed by the reader(s). It is not intended to be used as trading or

investment advice by anybody and should not in any way be treated as a recommendation. The information contained in this magazine does not constitute or form part of and should not be construed as, any offer for purchase or sale of

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via email to team@brokersforumofindia.com | Visit us: www.brokersforumofindia.com

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FORUM VIEWS - MARCH 2024

Your

Questions

Answered

SEBI’S PROPOSAL FOR

BETTER INFORMATION

DISSEMINATION

BY LISTED COMPANIES

16 Insights

THE ERA OF BROKERING

FIRMS PROFITING

FROM BLOCKCHAIN

AND DATACENTER

TECHNOLOGIES

22 Feature

COMPLIANCE CALENDAR

Regulatory

Compliance

INTERIM BUDGET: BALANCES ON

CAPEX AND FISCAL DISCIPLINE

Global

Insights

THE RISE OF BRAND

EQUITY AS A FINANCIAL

ASSET: UNLOCKING

HIDDEN VALUE IN

MARKETING STRATEGIES

FOSTERING DIVERSITY

REGULATING

DEPOSITORIES:

SECURING THE VAULTS

AROMATHERAPY ESSENTIAL OILS:

AN EXPLORATION OF NATURE'S FRAGRANT ELIXIRS

MAKE WORK-LIFE BALANCE A PRIORITY

Leadership,

Empowerment

& Lifestyle

Concept, Production and Editorial: Dr. Vispi Rusi Bhathena, PhD (h.c.)

Editor & Publisher: Dr. V. Aditya Srinivas

Design & Layout: Harshad Gajera

Publisher’s address: BBF, 808A, 8

Floor, BSE Building, P.J Towers, Dalal Street, Fort, Mumbai - 400 001

Printing press: Kshitij Printers, 49 Parsi Panchayat Rd., Ashok Ind. Est., 1 Floor, Andheri (E), Mumbai - 400 069

BBF Steering Committee

Kishor Kansagra (Chairman)

Anurag Bansal (Vice Chairman)

Nirav Gandhi (Secretary)

Rajiv Choksey (Treasurer)

Kushal Shah (Jt. Secretary)

DIVERSE BOARDROOMS:

CATALYSTS FOR CORPORATE TRANSFORMATION

BRANDING IN THE AGE OF ENTREPRENEURSHIP

SOVEREIGN GOLD BONDS - THE RIGHT WAY

TO ADD GOLD TO YOUR INVESTMENT PORTFOLIO

LESSONS FOR THE FUTURE: AN OVERVIEW

WHO IS A PURE AGENT?

RETAIL INVESTORS: NEW STRENGTH

TO INDIAN CAPITAL MARKET

EQUITY AS AN ASSET CLASS

FORUM VIEWS - MARCH 2024

Dr. Vispi Rusi Bhathena, PhD (h.c.)

Chief Executive Officer

Dr. V. Aditya Srinivas

Chief Operating Officer

and Chief Economist

Dear Readers,

India's Economic Resilience in a Global Landscape

In the ever-evolving landscape of global economies, India stands out as a beacon of resilience and growth. As the world

grapples with uncertainties and slowdown fears, our nation's economic performance is turning heads and earning

accolades.

The recently released forecasts by the International Monetary Fund (IMF) paint a promising picture for the Indian

economy. With a projected GDP growth rate of 6.5% for the fiscal year 2025, India emerges as one of the fastest-growing

economies globally. In stark contrast, the world GDP is anticipated to grow at 3%, and the United States at 1.8%.

F R O M

T H E

BBF SECRETARIAT

This impressive growth trajectory not only underscores India's economic prowess but also positions it as a torchbearer

amid global uncertainties.

The Reserve Bank of India (RBI), in its recent monetary policy review, decided to keep the Repo Rate unchanged at 6.5%.

The central bank's cautious approach is reflected in its inflation forecasts, with an expectation of 4.5% for the fiscal year

2025. The RBI emphasizes that the downward journey of interest rates will be contingent on a substantial decrease in

inflation, showcasing a commitment to maintaining economic stability.

Examining key indicators, the Index of Industrial Production (IIP) reflects a positive trend, growing at 3.8% in December.

While slightly slower than the previous month, this figure outpaces the expansion observed in the same month of the

previous year. Consumer Price Index (CPI)-based inflation is also on a downward trajectory, registering 5.1% in January

2024 compared to 5.69% in December. This marks a significant improvement from the 6.52% recorded in 2023,

reinforcing the narrative of controlled inflation.

A crucial barometer of economic activity, the Goods and Services Tax (GST) collection, has reached an impressive Rs.

1,72,000 crores. This robust collection not only signifies the strength of the underlying currents in the Indian economy but

also underscores its ability to withstand global headwinds. Furthermore, direct tax collections stand at ₹15.60 lakh crore,

representing a substantial 20.25% increase compared to the corresponding period last year.

In conclusion, India's economic journey is capturing the attention of the world. The numbers speak for themselves,

portraying a story of resilience, growth, and sound fiscal management. As we navigate the global economic landscape,

the torchbearer that is the Indian economy illuminates the path forward, instilling confidence in the face of uncertainties.

FORUM VIEWS, MARCH 2024 edition

From

to You...

BBF

FORUM VIEWS - MARCH 2024

BF Policy Group Physical Meeting, IMC (3 February 2024)

FORUM VIEWS - MARCH 2024

n the dynamic realm of global finance, traditional

metrics no longer stand alone as sole indicators of a

Icompany's prosperity. While metrics like revenue,

profit margins, and market share retain their significance,

there's a burgeoning acknowledgement of the influence

wielded by intangible assets, particularly brand equity, in

shaping sustained financial performance.

Brand equity encapsulates the perceptions, associations,

and emotional ties consumers harbor towards a brand. It

transcends tangible products or services, embodying the

intangible worth a brand holds in the psyche of its target

audience. Constituents of brand equity encompass brand

awareness, perceived quality, brand associations, and

brand loyalty.

For decades, marketers have diligently cultivated robust

brand equity to foster customer loyalty, expand market

share, and command premium pricing. However, what's

increasingly apparent is that brand equity transcends its

role as a marketing metric; it metamorphoses into a potent

Defining Brand Equity: Beyond Conventional Metrics

financial asset with tangible implications for a company's

financial well-being.

A fortified brand equity translates into tangible financial

advantages for companies. Brands endowed with high

equity enjoy enhanced customer loyalty, culminating in

augmented sales volumes, repeated purchases, and

elevated customer lifetime value. Furthermore, brands

with formidable equity possess the ability to exact price

premiums, fostering improved profit margins and

heightened shareholder value.

Consider renowned brands like Apple, Coca-Cola, and

Nike, which have etched indelible marks through their

formidable brand equity. These companies consistently

outperform competitors in revenue generation,

profitability, and market capitalization, owing a significant

debt to the potency of their brands.

The Financial Impetus of Brand Equity

THE RISE OF BRAND EQUITY AS A FINANCIAL ASSET:

UNLOCKING HIDDEN VALUE IN MARKETING STRATEGIES

Abby Ghafoor

Director

arc Management Consulting Ltd.

Collaborative Synergy between Marketing and

Finance

The recognition of brand equity as a financial asset

underscores the imperative for symbiotic collaboration

between marketing and finance professionals within

organizations. While marketers orchestrate endeavours

aimed at fortifying and perpetuating brand equity through

strategic branding initiatives, finance professionals

assume the mantle of quantifying and measuring the

financial impact of these endeavours.

For decades, marketers have

diligently cultivated robust brand

equity to foster customer loyalty,

expand market share, and

command premium pricing.

However, what's increasingly

apparent is that brand equity

transcends its role as a marketing

metric; it metamorphoses into a

potent financial asset with

tangible implications for a

company's financial well-being.

(London, United Kingdom)

Global Insights

FORUM VIEWS - MARCH 2024

During my 25 years working with businesses, I have seen

that synergy between any department with marketing is

crucial in fostering complete communication between the

company.

By fostering a nexus of collaboration, marketers and

finance professionals can create more robust

methodologies for assessing brand value and its impact on

the company's overarching financial performance. This

collaboration can facilitate alignment between marketing

strategies and broader business objectives, ensuring that

investments in branding yield returns.

Customer-based brand valuation models, for instance,

scrutinize consumer perceptions and behaviours to

ascertain the financial value of a brand. By harnessing the

power of data analytics and consumer insights,

companies can more accurately gauge the impact of brand

equity on pivotal financial metrics such as revenue, profit,

and market capitalisation.

Optimising Brand Equity for Financial Triumph

In today's fiercely competitive markets, brand equity

emerges as a pivotal driver of financial success.

Companies that invest in nurturing and fortifying robust

brands stand poised to reap bountiful rewards in terms of

revenue amplification, enhanced profitability, and

augmented shareholder value.

For marketers, the paradigm shift towards regarding brand

equity as a financial asset presents an auspicious

opportunity to underscore the tangible impact of their

endeavours on the company's bottom line. By forging

close alliances with finance professionals and embracing

innovative approaches to brand valuation, marketers can

unearth concealed value in their marketing strategies,

thereby steering their organizations towards sustainable

competitive advantages.

As we gaze across the horizon, it becomes patently clear

that brand equity will continue to exert a profound

influence on companies' financial trajectories and their

capacity to flourish in an increasingly intricate and

dynamic marketplace. By acknowledging the financial

value of brand equity and investing judiciously in its

cultivation, companies can position themselves for

enduring success in the global economic landscape.

Exciting Times Ahead!

Conclusion

By acknowledging the

financial value of brand

e q u i t y a n d i n v e s t i n g

judiciously in its cultivation,

companies can position

themselves for enduring

success in the global

e c o n o m i c l a n d s c a p e .

Exciting Times Ahead!

Evolving Paradigms in Brand Valuation

Conventional methods of brand valuation, such as the cost

approach and market approach, present limitations that

can engulf the entirety of brand equity's financial value.

Consequently, there's a growing interest in burgeoning

trends and methodologies that proffer more nuanced

insights into brand valuation.

Abby Ghafoor, A visionary leader in marketing. Abby is a triple Fellow with distinctions from the Chartered Institute of Marketing (CIM), the Institute of Consulting (FIC), and

the Chartered Management Institute (CIM).

As the Founder and CEO of Arc Management Consulting, her expertise lies in pioneering marketing strategies backed by a rigorous scientific approach, driving remarkable

growth and market share expansion. Under her leadership the business is the Winner of the corporate livewire and Prestige Awards "Management Consultancy of the Year "

2022/2023

With a remarkable 17-year tenure in the corporate realm, Abby served as a leading Marketing Consultant for industry giants like BT, Yell, and Hibu. Her remarkable

achievements earned her the prestigious national gold award for consistently delivering sustainable business results.

In addition to her corporate and charitable roles, Abby passionately fuels business growth. Over the past 13 years, she's collaborated with global brands, empowering their

marketing teams to deliver exceptional, game-changing results.

Her tireless dedication to propelling business, championing women's causes, and shaping future leaders has left an indelible mark in the realms of marketing,

entrepreneurship, and philanthropy.

FORUM VIEWS - MARCH 2024

s we commemorate International Women's Day in

2024, the world is engaged in conversation

Asurrounding diversity, equity, inclusion and

belonging, echoing the voices of women across all

industries, including the complex and dynamic world of

financial services. This year's theme, "Inspiring Inclusion,"

is a reminder of the collective journey we are on towards a

more equitable and diverse society. As I reflect on my

career, we must use IWD to celebrate the successes and

progress made but also recognise existing disparities that

continue to exist and make a concerted effort to address

them not just for now, but for future generations to come.

Inclusion is not just about representation; it's about

creating environments where women feel valued, heard

and empowered to thrive. The financial services sector has

historically struggled with gender diversity at senior

levels. Notwithstanding progress in recent years, women,

despite their undeniable talent and potential, continue to

face barriers that impede their career progression

and limit their representation in leadership roles. However,

amidst these challenges, I believe there exists hope

through mentorship, sponsorship, and coaching,

something that I have been fortunate to have benefited

from through my career.

Mentorship as the cornerstone of personal and

professional growth, plays a pivotal role in empowering

women to navigate the complexities of the workplace. A

mentoring relationship provides women with guidance,

advice, and valuable insights from someone who has

navigated similar challenges and triumphs. Through their

mentors, women can access networks, gain exposure to

new opportunities, and develop the skills and confidence

needed to advance in their careers. I have been privileged

to have had some incredible mentors throughout my career

who have done just that for me.

FOSTERING DIVERSITY

Heeral Shah

Head of ESG Strategy & Propositions,

Wholesale Lending, Corporate

and Investment Banking

Barclays

Moreover, mentorship goes beyond guidance; it fosters a

sense of belonging and empowerment. Some of the best

mentors I have had have also inspired me as role models.

When women see themselves reflected in leadership

positions and receive support from mentors who champion

their growth, it sends a powerful message: their voices

matter and their potential is limitless.

However, mentorship alone is not enough to overcome the

barriers that hinder women's advancement. This is where

sponsorship comes into play - as a proactive form of

support that goes beyond advice to advocacy. Sponsors

are typically influential leaders within an organisation, who

leverage their power and influence to actively promote the

careers of their protégées, opening doors to key

I n c l u s i o n i s n ' t j u s t a b o u t

representation; it's about creating

environments where women feel

valued, heard and empowered to

thrive. The financial services sector

has historically struggled with

gender diversity at senior levels.

Notwithstanding progress in recent

years, women, despite their

undeniable talent and potential,

continue to face barriers that

impede their career progression

and limit their representation in

leadership roles.

(London, United Kingdom)

Global Insights

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