Posts filed under 'Banks & NBFC'
Monday, September 08, 2008 2:35:14 PM IST
A leading business website is quoting that the Tata Sons will hand over the credit card business to their financial services arm Tata Capital. Meanwhile the CNX Nifty is up 3.75% and is at 4515 levels while BSE Sensex slipped a bit and is at 15056 up 572.89 points or 3.96
The Tata group entered into credit card services business in February 2006 but couldn’t do well. The business was off targets by its own projected figures. With the credit card business now into the hands of Tata Capital, the later will be able to manage it and will take the responsibility of promotion and marketing activities. The SBI - GE will be taking care of the underwriting and processing the white label cards. In the process, Tata Capital will get a sourcing margin.
The Bank Nifty is at 6605 up 5.04%. BSE Bankex is trading at 7540.14 levels and is up 5.21%. 17 of the 18 stocks on the BSE Bankex are in the green.
ICICI Bank is trading at 732.40 levels on the NSE and is up 6.65% so far today. SBI is up 5.48% and is trading at 1603 levels.
The Nifty losers list includes BPCL (down 2.7%) and Hero Honda (marginally in the red).
US Dollar cooled a bit while Crude is trading at $107.5 levels
1 U.S. dollar = 44.0392 Indian Rupees
1 U.S. dollar = 108.5069 Japanese Yens
1 U.S. dollar = 0.6940 Euros
1 Ounce Gold = $805.50
1 Barrel Crude Oil = $107.56
September 8th, 2008
Tuesday, September 02, 2008 2:32:54 PM IST
Inflation sensitive counters including the Banks and Realty are bullish as crude oil cools to $106 levels.
CNX Nifty is at 4497 trying the 4500 levels and is up 3.42%. CNX It is up 2.67% while Bank Nifty is up 6.61%. CNX 100 is up 3.42% while CNX 500 is up 3.19%
BSE Sensex is continuing to hold the gains. The Sensex is trading at 15040 levels and is up 542 points. The index is up 3.74%. The BSE Midcap and Smallcap index is up over 1.4% and 1.1% each. The BSE Reality index is up 7.2%. Bankex is up 6.7%. PSU, Capital Goods and Oil & Gas counters are all up over 3% each.
Unitech, ICICI Bank and DLF are up 8% each. SBI and ONGC are up 7% each. PNB, HDFC Bank, BPCL, Tata Communications, National Aluminium are up 5% each.
1 U.S. dollar = 44.1598 Indian Rupees
1 U.S. dollar = 107.9913 Japanese Yens
1 U.S. dollar = 0.6852 Euros
1 Ounce Gold = $805.00
1 Barrel Crude Oil = $106.61
September 2nd, 2008
Tuesday, September 02, 2008 12:43:02 PM IST
The stock marched towards new highs of the day with good buying interest in Banking counters with Kotak Mahindra Bank, SBI, ICICI, PNB being the hot picks.
The NSE Nifty zoomed upwards in the last hour of trade. The index is now at 4413.05 up by 1.48%. Bank Nifty is up 2.63% while CNX IT is up 1.09%. CNX 100 is up 1.49% while CNX 500 is up 1.55%
Top Nifty gainers include BPCL, ONGC (both up over 5%), SBI ICICI Bank, Unitech (all up over 3%), PNB, Reliance Infra, Tata Communications, Tata Power and L&T (all up over 2%). Other prominent gainers so far on the the NSE are Kotak Bank, HDIL, IOB, JP Associates, Vijaya Bank, Bank of India, Union Bank, PFC, IDBI and LIC Housing Finance.
On the downside are Ranbaxy. The script became even more weaker during the last hour and is trading at 464 levels down by 7%. Cairn, Tata Motors, Cipla and Satyam are in the red. Amongst Jr Nifty scripts on the downside are MPhasis, Chennai Petrol, Aventis, Autobindo Pharma, Cummins and IFlex. All the scripts are marginally in the red.
The BSE Sensex is up 203 points and is at 14,702.13 levels. Midcap stocks gained significantly during the last hour of trade. BSE Midcap Index is up 1.12%. The BSE Smallcap Index is holding in the green and is up 0.93%.
Sectoral Indices that are gaining are Bankex, PSU, Realty, Power while Health care and Consumer Durables are still in the red.
Crude oil is now at the sub-$110 levels and the global markets with the Asian markets to start with are largely in the green. Many countries including India that are heavily hit by the crude oil upsurge began to cool off.
1 U.S. dollar = 44.1598 Indian Rupees
1 U.S. dollar = 107.9913 Japanese Yens
1 U.S. dollar = 0.6852 Euros
1 Ounce Gold = $806.80
1 Barrel Crude Oil = $108.74
September 2nd, 2008
Friday, August 29, 2008 3:46:10 PM IST
Positive trend from the inflation, cooling of crude oil prices and a good US$ has brought back good buying in the Indian stock markets. Bank, Realty and PSU are busy counters today. BSE Sensex closed day at 14557.87 up by 509 pts or 3.63%. NSE Nifty closed day at 4356.30 up 3.38%
The CNX IT closed at 3.19%. All 20 stocks advanced today. Moser Baer is up 10.9%. Educomp is up 6.05%. CMC and GTL are up over 5% each.
The star of the day is undoubtedly Banking stocks. Bank Nifty is up 6.64% - the highest rise in recent times. All 12 stocks on the Bank Nifty are up. Kotak Bank opened at 579.5 and closed the day at 607.15 up by 9.16%. Other gainers include Oriental Bank, Axis Bank, Union Bank and the Punjab National Bank.
CNX 100 is up 3.41% and CNX Midcap is up 2.8%. Top gainers of the day from the Nifty Midcap 50 segment include Moser Baer (up 10.98%), Ashok Leyland (up 8.33%), Punk Lloyd, Matrix Laboratories, CESC (all up over 7%), Andhra Bank, Divis Lab, Syndicate Bank (all up over 6%) amongst others.
The BSE Sensex showed a glowing face as it managed to clos the day above 14550 points. The index is up 509.53 points or 3.63%. Midcap index stocks showed buying interest in the last hour of trade. The BSE Midcap index is up 2.41%. The Smallcap index rather remained calm but managed to be up by 1.53%
All sectoral indices on the BSE closed the day with atleast 1% up. The list is lead by Bankex (up 6%), Realty (up 4.7%), PSU, Metal, Capital Goods, Power, Teck (all up over 3%)
Overall a good day both for the traders and investors.
1 U.S. dollar = 43.5445 Indian Rupees
1 U.S. dollar = 108.8850 Japanese Yens
1 U.S. dollar = 0.6784 Euros
1 Ounce Gold = $835.60
1 Barrel Crude Oil = $116.75
August 29th, 2008
Friday, August 29, 2008 2:36:49 PM IST
The BSE Sensex is testing the 14500 levels yet again. BSE Sensex is at 14490.83 up by 442 points or 3.15%. The NSE Nifty is at 4329.75 up 2.75%. Three banks Corporation Bank, Union Bank of India and HDFC Bank turned up first and SEBI has givent he nod for the new IPO money management system
CNX IT is up 2.49% Bank Nifty is up 5.75%. Both BPCL and SBI are now up over 6.3% each. Punjab National Bank, ICICI Bank, Reliance Infra, Tata Communications, National Alumnium, HDFC Bank, BHEL and Tata Steel are the other gainers.
SEBI works for the interest of the investors and the latest example to support this is the new system the regulator has approved for manging the investors IPO money that is locked till the shares are alloted. The new system, termed as the Applications Supported by Blocked Amount (ASBA) asked banks to do a self certification about the implementation of its proposed scheme.
Three banks Corporation Bank, Union Bank of India and HDFC Bank turned up first and SEBI has givent he nod for the new IPO money management system, according to the business press today.
With this scheme in place, investors need not have to worry that their funds are locked IPO issuer till allotment. Further, refund process also goes off.
1 U.S. dollar = 43.5445 Indian Rupees
1 U.S. dollar = 108.8850 Japanese Yens
1 U.S. dollar = 0.6784 Euros
1 Ounce Gold = $836.70
1 Barrel Crude Oil = $116.98
August 29th, 2008
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