Infy's Silver Jubilee AGM
Investing in shares, today, has become a easy way of making money or people think that way. Gone are the days when people used to hang on shares for years and decades and pass on the shares to their Gen Next. Companies like Reliance, Larsen & Toubro have had shareholders who never sold their originally alloted shares. The passion of holding on to the shares for such long period is slowly but surely on the decline.
Personally, though I invest in shares to make money, there are a few shares to which I am sentimentally attached. So much so, that I don't sell it at all. And the list in headed by none other than Infosys Technologies Ltd. I must admit that its truly a "Powered by Intellect, Driven by values" company. Its annual report is a must read for everyone who is in the investment fraternity. If any company pioneered the good Corporate Governance in India its
Infosys. If I go on listing the "Firsts" standing to the credit of Infosys, my blog will look like one being sponsored by Infosys.
Attending Annual General Meetings(AGM, in short) of companies gives us an opportunity to meet the top management, interact with them on a one on one basis. During my stint at Bangalore, attended lots of such AGMs. But no other AGM arouses a passion like that of Infosys.
This year's AGM was held on 10th June 2006 at NIMHANS convention centre, Hosur Road, Bangalore, and more importantly it was the 25th AGM of the company. Me and my friend Narasimha Shenoy are regulars at Infy AGMs, this being our 4th AGM together. This time we were fully equipped to "shoot" the Infy's top management. While I was ready with my digital camera to shoot, while NS was ready to shoot some tough questions at the AGM.
I always loved front benches when i was in college, same here, somehow got into the auditorium and got a seat in the third row from the front. As always, the Chairman's address was great. So was CFO Bala's powerpoint presentation of Financial performance of the company,loaded a mix Bollywood n Kannada Songs. As someone rightly said later on, Bala can infact try his luck at The Great Indian Laughter Challenge for his great sense of humour.
Shenoy fired his questions regarding Investment in Mutual Funds by the company and Loan to China subsidiary. I dont remember the answer he got as I was more busy clicking his photos. I decided to ask about NRN's retirement regarding which there was a report in Businessline newspaper. I thought someone before me would ask, but no one did. Got the opportunity at the nick of the time and asked my question. I highlighted the fact that ours was the only company in India which gave an opportunity to physically disabled shareholders a chance to be there at the AGM by providing them a vehicle with pick n drop facility from their doorstep, free of cost. NRN thanked me for highlighting the fact and answered my question regarding his retirment patiently. My quote rightly found its place is next day's Times of India and Businessline newspapers, Yahoooooooooooo...... !
Icing on the cake was our meeting Mr. Vallabh Bhansali of Enam Securities, one of the top most Investment Bankers in India, who complimented both us speaking well.
All in all a great day in life.
The webcast of the AGM is available at
http://www.infosys.com/investor/agm2006.aspCatch me at sometime around 2 hours 29 minutes.
