THE FINNACLE

FOREWORD

Dear Readers,

Thank you for taking time out this holiday season to read our e-newsletter.

I am extremely delighted to present to you to fourth issue of our monthly newsletter written by the fellow students of NMIMS,
Navi Mumbai. I would like to like to thank our director – Dr. P. N. Mukherjee and our faculty mentor – Dr. Nupur Gupta for
constantly inspiring and supporting the whole team to make this happen. I would also like to like to thank the students of
NMIMS, Navi Mumbai who have taken time out during their vacation to contribute to this month’s issue.

This edition of the newsletter consists of prominent financial news from around the global in the words of young management
students who have written professionally researched articles on contemporary matters. We, the Fincorp team, strive to share
our knowledge of the finance market and economy with all of you. We want the “Finnacle” to add value to you, so please do
share your feedback and suggestions.

“Finnacle” is published on our official social media channels each month. However, if you miss an edition, please feel free to
write to the team to get a copy of the same. Do share the newsletter with your friends, colleagues and associates.

Wishing you love, warmth and good health this holiday season from the whole team of Fincorp.

A very happy new year to everyone. Let’s all welcome 2021 with a fresh spirit!

Regards,
Rhea Baid
Junior Executive Member – Fincorp
MBA 1st Year
 Apple vs Facebook
By: Priyank Sheth, MBA 1st Year
Data is the oil of the 21st century ie. invaluable. There are
millions of Data available online on the social media about
people around the world and this issue has led to a feud
among the two Tech giants - Apple and Facebook.
How does Facebook earn money?
Facebook has a huge customer base of 2.7 billion who can
share, like, post photos, videos for free. Facebook currently
doesn’t charge any monthly or annual subscriptions like
Netflix, Amazon, etc.
Facebook monitors the customer preferences based on the
posts you like, share, your location, your likes, dislikes and
enables advertisements on your Facebook account
accordingly. Facebook earns advertisement revenues from
these businesses. Facebook has become a huge medium of
advertisement of one’s products for these small business and
about 44% of small and medium business increased their
advertisement expenditure on Facebook this year.
What is Apple’s position?
Apple is known for its transparency. It treats privacy as a
luxury and that is its biggest asset.
Apple wants to protect its customer’s private data and wants
to make them aware of the apps using their personal
information. Apple plans to update its IOS to make data
privacy a more visible issue for users. There are about 1
billion iPhones out there apart from the iPad and MacBooks
which will be affected by this change. From next year,
whenever Facebook decides to update its app, Apple will ask
u if you are happy with Facebook collecting data like about
your whereabouts, spending habits, marital status. It is also
believed that due to this move by Apple, the average small
business advertiser stands to see a cut of over 60% in their
sales for every dollar spend.
Facebook used this as an opportunity to make a big post in
The New York Times, The Wall Street Journal, etc alarming
the people about the negative impact on small businesses due
to Apple’s proposed changes. Apple responded saying that
they are just standing up for their users and they should know
if their personal data is being used by websites or apps.
Facebook knows that if asked permission to collect private
data, users are most likely to press NO and Apple is adamant
on its stand of privacy.
This has led to a Privacy war and we can’t find to wait as to
who wins it.
Wipro share price hits fresh 52-week high as
buyback offers open
By: Krithika S, MBA 1st Year
Wipro share price increased nearly 2% to hit a new high on
the BSE as the company’s Rs.9,500 crore share buyback
opened up. It reached Rs. 390.40 each. In the previous
month, the shareholders had approved Wipro’s buyback
strategy for buying of up to 23.75 crore equity shares at Rs
400 per share. The share buyback proposal will close on
January 11, 2021. This is the 4th buyback offer by Wipro in
the last 5 years. Wipro shares have gathered 144.6% from
March low of Rs.159.60 each.
Wipro shares concluded 0.55% up at 384.95 each as on 29,
Dec 2020 on BSE. Previous year in April, Wipro had
declared a share buyback of Rs.10,500 crore to repurchase
32.3 crore equity shares at a price of Rs.325 per equity
share, which was at over 15% premium to stock price back
then. Also, the IT major bought back Rs 2,500 crore worth
of shares in 2016 and Rs 11,000 crore worth of shares in
2017.
Brokerages turn positive on Tata Motors
after Brexit relief
By: Krithika S, MBA 1st Year
After the United Kingdom and European Union
negotiators finalised their post-Brexit trade agreement,
Tata Motors was one of the top gainers on the Nifty. The
stock closed at Rs. 186.30 after it went to a high of Rs.
187.45 after it rose to 5.7%. The EU-UK Trade and
Cooperation Agreement which was completed on
December 23 permits free trade of goods. Analysts said
the Brexit-related doubts are in the past now. It was an
important factor which has been withholding the stock’s
performance as well as business performance at JLR
because of apprehensions over a hard Brexit.
This removes a possible risk for Jaguar Land Rover (JLR)
who can import and export automobiles between UK and
Europe without an extra cost. It is also said that investors
are likely to shift focus back to Tata Motors’ volume and
mix recovery as well as JLR’s cost reduction efforts. CLSA
expects a successive volume recovery for JLR with both
cost and model rationalisation which should bring
unrestricted cash flow generation for TATA motors.
 The Brexit trade deal: Explained
By: Ashay Saraiya, PGDM 2nd Year

After nine months of tortuous and at-times fractious negotiations, the UK and the EU have reached agreement on an
economic partnership agreement that will govern large swaths of bilateral trade worth more than £650bn. The deal
covers technical aspects of trade for key sectors, including autos, chemicals, pharmaceutical and professional services
as well as a governance mechanism to resolve disputes that may arise between the two sides. Let’s go through the deal
sector by sector:

Fishing rights
EU fishing fleets will have a five and a half-year transition period with guaranteed access to UK waters. After that, access
will depend on annual negotiations. During the transition, EU fishing rights in UK waters — currently worth about
€650m per year — will be reduced by one quarter, with British quotas increased by a corresponding amount. The shift
will boost UK boats’ current share of fishing rights in British waters from about a half to two-thirds. After the transition,
access to waters will depend on annual negotiations, such as those the EU already has with Norway. But the EU will have
some leverage: should the UK revoke access, it will be able to take compensatory measures, including hitting UK fish
exports with tariffs, and even shutting the UK out of its energy market.

Logistics and road haulage

The two sides recognised the validity of each others’ licences and permits and included full transit rights, allowing
drivers to cross multiple countries in order to drop a load. This will enable Irish lorries to use the UK as a “landbridge”
to deliver goods into the EU. However, the agreement limits British truckers to a single drop-off and a single pick-up
when in Europe, a significant downgrade from EU membership, under which drivers could do three pick-ups inside an
EU country before returning home.

Aviation and travel

The deal allows flying rights between the EU and UK to continue, but UK carriers will not be able to fly between two
points within the EU. This was expected, and airlines on both sides have set up foreign subsidiaries to continue current
routes, allowing easyJet, for example, to fly between France and Italy. The UK will still have access to Horizon Europe,
the EU’s €100bn research and development programme, while the space industry will be relieved it can access
Copernicus, the earth observation programme. For travelers, visas will be required for visits of more than 90 days, and
there may be additional passport checks.

Food and drink

Food and farming businesses welcomed the deal but warned that leaving the customs union and single market in a
week’s time would still disrupt the food supply chain. There will be significant disruption to supply and some prices are
expected to rise. UK’s food chain is poised to be slower, more complex and more expensive for months if not years. It is
estimated that tariffs in the event of a no-deal Brexit would have added £3bn a year to the cost of food for UK consumers.

Automobile industry
The car industry warned that the deal would introduce much more red tape and regulatory burden for the industry,
which trades almost 3m vehicles a year between the EU and the UK. Cross-Channel trade in automotive parts accounts
for almost €14bn. The UK has already conceded that the EU would not agree to take a more flexible approach when it
came to assessing whether UK cars manufactured with large amounts of non-UK components could qualify for zero-tariff
access to the bloc under a trade deal. As a result, some cars may incur tariffs on entering the EU.

Professional services
Professional services providers will lose their ability to automatically work in the EU after the deal failed to obtain pan-
EU mutual recognition of professional qualifications. This means that professions from doctors and vets to engineers
and architects must have their qualifications recognized in each EU member state where they want to work. There will,
however, be provisions for short-term business trips and temporary secondments of highly skilled employees.

Financial services
The deal does not cover financial services access to EU markets, which is still to be determined by a separate process
under which the bloc will either unilaterally grant “equivalence” to the UK and its regulated companies, or leave firms
to seek permissions from individual member states.
 Chemicals
The chemicals industry is among the most exposed to costs of new trading arrangements, with products that enter a
large number of cross-border supply chains, from car paint to haircare products, food to pharmaceuticals.

Manufacturing
The UK manufacturing sector welcomed the fact tariffs had been avoided that risked wiping out profits in the sector but
warned that companies still faced border delays and the loss of mutual conformity assessment. This could mean lots of
certification and testing to meet both EU and UK standards and would add significant complexity and cost, for a sector
that operates on fine margins.

The deal does not envisage cooperation on the same level as before Brexit in many areas. Financial and business services,
the backbone of UK exports, are only included to a small extent .The same is true of cooperation on foreign policy,
security and defence, while provisions for transport, energy and civil nuclear cooperation will be below current level

Now, starting January 1, there will be a new trade border between Northern Ireland and the rest of the UK, which means
that the former will still be under the EU’s single market and will follow EU’s customs rules.

Watch of the month: Industry

By; Ashay Saraiya, PGDM 2nd Year
The London-set Industry familarizes itself with the hazards that loom within seemingly innocuous workplace environments of
the financial industry. Industry sets its sights on the nuances of office life in finance. The age-old adage of “Are you working to
live or living to work?” becomes complicated under Industry’s gaze. What is the substance of survival, is it success alone? The
show understands that the answers to these questions vary by degrees. Industry emphasizes on cutthroat corporate politics to
determine the fates for its characters. The central motivation for all the characters remains RiF; a “Reduction in Force” day,
where only a fraction of the intern class secures employment after a probationary period. Each character must employ
different tactics to navigate her way to job security—and the reward’s sweetness varies by a wide margin. Industry’s title lead,
Harper Stern, a scrappy New Yorker with dubious credentials that she makes up for in sheer willpower, faces opposition for
her Americanness in London and being Black against the
whiteness of the finance world. The show’s central story is
power.
Industry’s writing shines when characters tussle to consolidate
this power. Alliances, alignments and employee loyalty add
another kind of work on top of the work itself;
and Industry suggests it’s the central.
Zooming out, there’s a final population who gets screwed but
goes unannounced: the average performers who lose out on a job
offer from the bank, for the investment banking industry isn’t too kind to the average performers. From threats manifesting
within the glamour of nightlife in the finance industry to the stress-sweat soaked 9-to-5 and sometimes even from 9 to the next
day’s 9 (we see an intern sit through the night valuing a company and popping Adderall pills to stay awake), the cast seems to
take every hard knock. For a show that makes its title both foreground and background, it shines with its themes of corporate
politics, client servicing, loyalty and work life balance to effectively produce a near accurate image of the investment banking
industry to its viewers (though non-finance viewers should beware of the heavy financial jargons used).

Industry is currently streaming on Disney+Hotstar.

 The Story of Burger King India IPO
By: Swapnil Agarwal, PGDM 2nd Year
Whenever we are in a mall or a shopping complex and our
hunger is around, then the first thing we got for is fast food.
Due to recent conditions, people have become more health
conscious especially while considering outside food. There
comes to rescue QSR (Quick Service Restaurants) which
provide quickly prepared ready to eat food with high
reliability on taste and hygiene. I am sure you have guessed
some them like McDonalds, KFC etc. Another one in this list is
Burger King.
Burger King is USA based QSR chain having its outlet all
around the world. In India it is owned by QSR Asia and
recently they came up with an IPO to raise money which will
be utilized to expand their business and open new stores in
India. Currently they have 261 outlets in India. The company
is very late to come up in the market as compared to
McDonalds and Dominos which debuted in 2014. The market
share of Burger King India stands at third position after
Domino’s (21%) & McD (11%). The company is yet to make
any profits thanks to their high employee costs, lease
payments and other fixed expenses.
Even after such weak financials the company came up with
IPO on December 2 to raise ₹810 cr. to achieve its target of
opening 700 stores by December 2025. The issue price was
set ₹59-60 per share. Initially the analysts were expecting a
low subscription of the IPO but as the results of grey market
came, it made clear that the IPO will soon be making a history.
When the IPO got launched and till the last date of the IPO, it
got oversubscribed by 156 times surprising everyone in the
equity research industry. When the company got listed in
stock exchange, its share price debuted at 87% premium
making investors happy. This did not end here as the
investors gained almost 232% in three days of its listing. This
shows even if the financials are not strong enough but if there
is good growth potential, it can garner good support from
investors.
TATA to expand its share in Air Asia
By: Swapnil Agarwal, PGDM 2nd Year
We all know our very own one of the biggest conglomerates of
the country TATA group is into multiple industries. The group
started with Iron and steel industry and expanded its business
into automobile, FMCG products, IT etc. It has also ventured
into aviation industry through partnerships with Singapore
airlines forming a new airline company called VISTARA. They
also bought 51% stake in Air Asia which is a Malaysian airlines
company having its operations in India as well.
As per latest reports, TATA Sons is planning to buy 32.67%
more stakes in Air Asia. With this deal being successful the total
stake of TATA in Air Asia will come up to 83.67%. As per the
statements released by Bo Lingam, the President of Air Asia,
the company has received a major setback due to COVID-19
pandemic. They need money to stabilize their position and
focus on expanding their Southeast Asian markets particularly
in Malaysia, Thailand, Indonesia, and the Philippines as well as
for our future expansion into Cambodia, Myanmar and
Vietnam. However, Bo Lingam considers India as an important
market and will also focus on its growth. Currently Air Asia is
connecting 19 destinations in India with its fleet of 30 Airbus
A320 aircraft as a LCC (Low Cost Carrier) airlines. Moreover,
TATA Sons is also aggressively trying its luck in aviation sector
with VISTARA then Air Asia and now they have also shown
interest in buying a highly loss-making airlines i.e Air India.
Government invites bids to sell its stake in
Shipping Corporation of India
By: Ankita Mishra, MBA 1st Year
The Department of Investment and Public Asset Management
(DIPAM) has issued Preliminary Information Memorandum
(PIM) for strategic disinvestment of its 63.75% stake in Shipping
Corporation of India inviting Expressions of Interest (EoI) from
potential buyers by February 13, 2021. Shipping Corp owns and
runs one-third of Indian tonnage, and has operating interests in
all areas of the shipping business. Out of the 6 joint venture
entities that the company has, 4 will be a part of the sale. These
are India LNG Transport Co. (No.1) Ltd, India LNG Transport Co.
(No.2) Ltd., India LNG Transport Co. (No.3) Ltd. and India LNG
Transport Co. (No.4) Ltd. The remaining 2 which include Irano
Hind Shipping Company is being dissolved and SAIL SCIL
Shipping Pvt. Ltd is in the process of winding off. All the non-
core assets of the company are being disposed and won’t be part
of the sale. RBSA Capital Advisors LLP has been appointed as
the transaction advisor to manage the disinvestment procedure.
Any investor who is interested in acquiring the company, should
have a net worth of Rs 2,000 crore, and a positive operating
profit in at least three out of the last five financial years. Even
employees can partake in the transaction independently or
through a consortium but they would have to comprise an
organisation which would require them to make 10 per cent
contribution towards the financial bid. Public
sector organisations are not eligible to participate in the
transaction. At the current market price, the government’s
stake in Shipping Corporation is valued around Rs 2,500
crore.
 Mrs. Bectors becomes the most
subscribed IPO of 2020
By: Ankita Mishra, MBA 1st Year
Mrs Bectors is a bakery product manufacture
from North India. The shares of bread
manufacturer Mrs Bectors Food
Specialities made a powerful debut on the
Bombay Stock Exchange and National Stock
Exchange by listing at 74% premium over
their issue price.
On BSE the scrip got listed at Rs 501.00 each,
when its offer price was Rs 288, thereby
registering a rise of 73.96 per cent. On the
NSE, it got listed at Rs 500.00, the issue price
being Rs. 212. Within minutes the stock hit its
20 per cent upper circuit.
Eventually Mrs Bectors settled at Rs
595.55 on the BSE and Rs 592.50 on the NSE,
thereby registering a 106.79 per cent and a
105.73 per cent rise on the issue price.
This issue was subscribed 198.02 times,
which made it the most subscribed IPO in
2020, leaving behind Mazagon Dock
Shipbuilders (157.41 times) and Burger King
India (156.65 times).
The company has exhibited EBITDA growth
of 84.94% from H1FY20 to H1FY21 due to
revenue growth of 18.2% and an expansion
in EBITDA margin from 10.71% in H1FY20,
to 16.76% in H1FY21. As a result, the
Company’s has seen its EPS increase from
5.30 in FY20 to 13.56 for H1FY21, and its
RoNW expand from 9.52% in FY20 to
19.61% in H1FY21.
The company raised Rs 540 crore which it will
use to expand its Rajpura manufacturing
facility.
The Wistron Crisis
By: Priyank Sheth, MBA 1st Year
On 12th December, violence erupted at Apple's contract manufacturer —
 Wistron Corp's Narasapura office close to Bengaluru, over supposed non-
payment of wages and poor working conditions. On that pivotal evening,
Wistron representatives stripped the workplace and laid attack to the
structure. And keeping in mind that 150+ individuals have been arrested
from that point forward, it does ask the question  - How did this occur?
Wistron is a Taiwanese organization and a key assembling accomplice for
Apple in India. In 2017, the organization put near ₹3,000 crores in setting
up a creation unit in Kolar to make iPhone 7 and iPhone SE gadgets. The
public authority, thus, had offered the organization 40+ sections of land of
land and different motivating forces to put resources into making 10,000
positions for the neighborhood network. And keeping in mind that they
made those positions, there was certainly some sketchy morals included.
As per a report in the Times of India, Wistron apparently promised
engineering graduates a monthly paycheck of 21,000 then reneged on the
guarantee, not once however twice. The story goes that they slice the
compensation from ₹21,000 to ₹16,000 and afterward slice it again to
₹12,000. Non-Engineering graduates had it far more detestable. They saw
their compensation drop to a measly ₹8,000. Furthermore, notwithstanding
the pay cuts, they had to stay at work past 40 hours subsequent to being
ordered to place in 12-hour shifts instead of the customary 8-hour shifts.
Presently nearly 90% of the 10,000+ specialists utilized at Wistron's
Narasapura office were contractors for example transitory work recruited
through staffing organizations. Furthermore, that most likely methods
worker complaint redressal was never actually a need. Thus, when repeated
calls for change failed to attract anyone's attention, youngsters and ladies
rioted and stripped the office. One trade union leader even asserted the
violence was an immediate consequence of the "brutal exploitation" of
representatives who had to work in conditions that look like sweatshops.
All things considered, it appears to be the standing of the public authority's
"Make in India" program could be on the line. Be that as it may, maybe it's
additionally judicious for the public authority to pause for a minute and
relook at specialist's conditions to ensure they cut a reasonable
arrangement for the two players included  — investors and representatives.
Indeed, all things considered, the episode has by and by cast the spotlight
on India's wobbly work laws.
 Alternative Investments: Fine Wine
By: Ashay Saraiya, PGDM 2nd Year

A bottle of good wine can be a balm for the soul and lifter of spirits. For investors struggling to find a good source of
returns in a world of ultra-low interest rates, it can also be a compelling haven asset. Although it carries no yield, fine
wine does offer the potential for capital growth. It is not a tipple for the impatient, however. Like the finest Bordeaux
or Burgundy, the richer rewards go to those who let their wine investments age. The industry’s leading benchmark, the
Liv-ex Fine Wine 100 index, has barely budged of late, rising just 1.2 per cent for the year to the end of August.
Coronavirus, US tariffs on European wines and unrest in Hong Kong, the centre of the Asian wine trade, have put a cork
on gains. But underscoring the steady nature of the asset class, the Liv-ex Fine Wine 100 index, which charts the price
movements of 100 leading fine wines on the secondary market, fell only 1.1 per cent between February and March.
During this time, the S&P 500 plunged more than a third. Longer term, the index, which is denominated in sterling, has
also fared well, returning nearly 27 per cent over five years. That is better than the total returns on long-term UK gilts,
or the FTSE All-Share index, over that period. Even better, there are no UK capital gains tax on fine wine. The trends are
also looking up as the home wine consumption has soared during lockdown as people unwind with a glass of wine to
cope with the stress of Covid-19.

Walmart puts $700 million into hived-off PhonePe

By: Rhea Baid, MBA 1st Year

Flipkart has spun off its digital payment arm, PhonePe as a separate entity by partly divesting its stake in favour of its parent
company, Walmart. PhonePe raised primary capital of $700 million in the Walmart carried funding that accredits a valuation of
$5.5 billion to this five year old undertaking.
Post-funding, Flipkart yet continues to hold the largest share in
the company, with 87%. The E-commerce giant, Walmart will
hold a 10% share after this transaction. After this spin-off, they
intend on appointing a new board of directors to help in the
growth and launch of the custom equity incentive or ESOP,
program for its employees.
The company was founded in 2016 and now has over 250
million users that are registered on the platform and over 100
million active users monthly. In the month of October of 2020,
the company made transactions worth $1 billion. This funding
for PhonePe is to help fuel growth to compete with Alphabet’s
Google and Alibaba backed Paytm.
RELIANCE INDUSTRIES LIMITED (Holding Period: 2 weeks) *As on 25/12/2020
By: Yash Dalal and Keshav Heda, PGDM 2nd Year

CMP: 1994.15 STOP LOSS: 2010 TARGET: 1975

 RIL stock has maintained the higher 1900 levels for the entirety of November and December, prior to which it saw a
correction of 300 points.
 As highlighted in the chart, there is a bearish engulfing line candle stick that was formed on the 22 nd indicated a strong
bearish reversal sign in the week to come.
 Straight after a “Three Outside Down” Bearish Reversal Candlestick is formed further indicating a downward trend for
the future.
 20-day Exponential Moving Average as well Simple Moving Average are higher than the CMP, indicating a sell on the
stock.
 However, RIL is approaching its minor support level of 1988.75, which could help the bulls gain power again. Therefore,
we do not recommend a strong sell for this stock but it is still a sell for the coming 2 weeks based on strong candlestick
indicators.

Oscillators for the Week ending 25/12/20: Our recommendation:

Type Value Action

RSI 51.99 NEUTRAL
Momentum - SELL
123.35
MACD 40.17 SELL
(Div.)
William R -67.50 NEUTRAL
%
Stochastic 22.09 SELL
YES BANK: (Holding Period: 3-4 weeks) *As on 29th December, 2020
By: Yash Dalal and Keshav Heda, PGDM 2nd Year

CMP: 17.75 STOP LOSS: 19 TARGET: 16

 Yes Bank stock had reached its 6-month high of 20.83 in the 2nd week of December, after which there was a major
correction since it reached its major resistance level.
 There was a formation of an Engulfing Line Bearish Reversal Candlestick indicating an upcoming downtrend for the
stock in the coming weeks, as highlighted in the chart above.
 If the stock breaks minor support level 17.13 then we can expect it to fall further down to 16, which is our target.
 MACD indicator shows a convergence which is a negative sign for the stock and indicates a sell signal.
 50-day SMA as well as EMA is above the stock price indicating a sell on the stock for the short term.

Key Oscillators & Moving Averages: Our recommendation:

Type Value Action
CCI 123..68 SELL
Awesome -0.74 NEUTRAL
Oscillator
MACD (Div.) -1.81 SELL
Bull-Bear 3.15 SELL
Power
SMA (50) 22.32 SELL
EMA (50) 30.95 SELL
 The Fincorp Team

Dr. Nupur Gupta

Faculty Mentor
nupur.gupta@nmims.edu

Ashay Saraiya Raghav Mathur Palak Kothari

President Vice-President General Secretary
saraiya.ashay38@nmims.edu.in mathur.raghav30@nmims.edu.in kothari.palak28@nmims.edu.in

Yash Dalal Keshav Heda

Senior Executive Member Senior Executive Member
dalal.yash11@nmims.edu.in heda.keshav55@nmims.edu.in

Ankita Mishra Rhea Baid Priyank Sheth

Junior Executive Member Junior Executive Member Junior Executive Member
ankita.mishra43@nmims.edu.in rhea.baid42@nmims.edu.in priyank.sheth06@nmims.edu.in

Krithika S Utkarsh Keshari

Junior Executive Member Junior Executive Member
s.krithika41@nmims.edu.in utkarsh.keshari88@nmims.edu.in

Aayushi Jain
Junior Executive Member
aayushi.jain59@nmims.edu.in

Follow us on:

Instagram: https://www.instagram.com/fincorp_nmims/
LinkedIn: https://www.linkedin.com/in/fincorp-finance-club-svkm-s-nmims-navi-mumbai-491994167/
Email: fincorp@nmims.edu.in