SKS Microfinance Stock Shares Tumble Just Months After IPO

Shares for the largest microlender in India plunged more than five percent for a second day in a row. Is the open market the place for microfinance?

Just two months after going public, SKS Microfinance, the largest microlender in India, is in trouble with the market. Shares for SKS plunged more than five percent for the second day in a row after a sudden and unexplained departure by CEO Suresh Gurumani.

When the company announced its $347 million IPO it heightened an ongoing debate in the microfinance community about the balance between scaling microlending to reach more people and protecting the mission of poverty alleviation from the potential dangers of public markets and shareholder obligations.

Today's tumble came after SEBI, the Bombay Stock Exchange where SKS shares are traded, has asked for an explanation of the hasty exit of Gurumani. Markets don't like unknowns, so the potential for scandal at the top has investors scared despite impressive growth and profits last quarter. If the stock continues to tumble it could be a set back to the proponents of public offerings.

WATCH: The godfather of microfinance, Grameen Bank Founder, Muhammad Yunus recently debated this issue with Vikram Akula, Founder and Chairman, SKS Microfinance at the Clinton Global Initiative.

READ: The Economic Times has a more detailed analysis of SKS Microfinance leadership and governance.

Ottawa Humane Society / Flickr

The Trump Administration won't be remembered for being kind to animals.

In 2018, it launched a new effort to reinstate cruel hunting practices in Alaska that had been outlawed under Obama. Hunters will be able to shoot hibernating bear cubs, murder wolf and coyote cubs while in their dens, and use dogs to hunt black bears.

Efforts to end animal cruelty by the USDA have been curtailed as well. In 2016, under the Obama Administration, the USDA issued 4,944 animal welfare citations, in two years the numbers dropped to just 1,716.

Keep Reading Show less
via I love butter / Flickr

We often dismiss our dreams as nonsensical dispatches from the mind while we're deep asleep. But recent research proves that our dreams can definitely affect our waking lives.

People often dream about their significant others and studies show it actually affects how we behave towads them the next day.

"A lot of people don't pay attention to their dreams and are unaware of the impact they have on their state of mind," said Dylan Selterman, psychology lecturer at the University of Maryland, says according to The Huffington Post. "Now we have evidence that there is this association."

Keep Reading Show less
via Real Time with Bill Maher / YouTube and The Late Late Show with James Corden / YouTube

A controversial editorial on America's obesity epidemic and healthcare by comedian Bill Maher on his HBO show "Real Time" inspired a thoughtful, and funny, response by James Cordon. It also made for a great debate about healthcare that Americans are avoiding.

At the end of the September 6th episode of "Real Time, " Maher turned to the camera for his usual editorial and discussed how obesity is a huge part of the healthcare debate that no one is having.

"At Next Thursday's debate, one of the candidates has to say, 'The problem with our healthcare system is Americans eat shit and too much of it.' All the candidates will mention their health plans but no one will bring up the key factor: the citizens don't lift a finger to help," Maher said sternly.

Keep Reading Show less

There is no shortage of proposals from the, um, what's the word for it… huge, group of Democratic presidential candidates this year. But one may stand out from the pack as being not just bold but also necessary; during a CNN town hall about climate change Andrew Yang proposed a "green amendment" to the constitution.

Keep Reading Show less
Me Too Kit

The creator of the Me Too kit — an at home rape kit that has yet to hit the market — has come under fire as sexual assault advocates argue the kit is dangerous and misleading for women.

The kit is marketed as "the first ever at home kit for commercial use," according to the company's website. "Your experience. Your kit. Your story. Your life. Your choice. Every survivor has a story, every survivor has a voice." Customers will soon be able order one of the DIY kits in order to collect evidence "within the confines of the survivor's chosen place of safety" after an assault.

"With MeToo Kit, we are able to collect DNA samples and other tissues, which upon testing can provide the necessary time-sensitive evidence required in a court of law to identify a sexual predator's involvement with sexual assault," according to the website.

Keep Reading Show less