Posts filed under 'Banks & NBFC'
The Indian stock markets have undone yesterday losses reaffirming that U-course (reversal of trend) was not immediate but a little distance ahead. The news that FIIs have pumped in 10,000 crores has boosted the morale as Sensex have been reporting the best results since September 2010.
The SENSEX closed at 17193.55 gaining 330.25 (1.96%) points while the NIFTY closed at 5199.25 jumping up 111.95 (2.20%). The CNX Midcap closed at 7100.55 adding 160.80 (2.32%) points while the BSE Smallcap closed at 6463.30 adding 89.71 (1.41%) points. Hence, the market gains of the day are across the board.
Media reports say that Fidelity is considering an exit from the Mutual Fund business in India. Earlier similar news (or rumours) are out that Bharti wants to come out of its Bharti AXA AMC. These news, experts believe, are a thumbs down to the morale of the Indian mutual fund market that has been witness some sea changes in the recent past.
ICICI Bank has beat street estimates with some good Q3 numbers. The bank’s net is up 20% to Rs 1,728 cr. ICICI Bank is up at Rs. 902.15 gaining Rs. 49.95 (5.86%) with a volume of 10.27m shares traded today.
Government will infuse up to Rs 7,900 crore via preferential allotment share issue into SBI. SBI is up at Rs. 2061.60 gaining 76.35 (3.85%) with a volume of 2.98m shares traded.
Tata Global Beverages enters into JV with Starbucks group to operate Starbucks outlet in India and there by entering into the highly competitive high-end retail coffee drinks business. Tata Global Beverages closed at Rs. 107.75 gaining Rs. 9.85 (10.06%) with a volume of 17.92m shares traded.
January 31st, 2012
Positive sentiment in the global markets, particularly because of the good numbers from the Chinese markets and news that there is fresh inflow of foreign money invested in Indian markets has made stocks to have a run today.
The SENSEX was comfortable in jumping having ticked 16466.00 point by closing time today adding 276.60 points (1.71%). NIFTY is more close to the 5k mark after it closed at 4967.30 points today, adding 93.40 (1.92%) in session today. The CNX Midcap closed at 6725.30 gaining 78.25 (1.18%) while BSE Smallcap ticked 6258.45 gaining 66.42 (1.07%).
While the overall market sentiment is positive, those stocks which brought in some piece of positive news have jumped even more.
Maruti Suzuki for instance said that it raised prices of most vehicle models by Rs 2,400-17,000 due to high input costs & currency. And the script zoomed a whopping 10% in a single day! The script closed at Rs. 1109.95 gaining Rs. 105.30 (10.48%).
HCL Tech announced its numbers today. Its Q2 cons net went up 15.4% to Rs 573 cr and revenues rose 13% to Rs 5245 cr QoQ. The script closed at Rs. 425.40 jumping up Rs. 19.45 (4.79%) with a volume of 4.79m shares traded.
Positive sentiment continued in PSU counters, particular in SBI. SBI said it will get Rs 6,000-8,000 cr capital infusion by March. The stock closed at Rs. 1844.00 gaining Rs. 27.60 (1.52%) amidst a volume of 2.27m shares traded.
January 17th, 2012
KR Choksey Integrated Financial Solutions in its post-results analysis report on ICICI Bank has given a BUY call to the script. They say that the results are in-line with expectations and offer a favorable risk-reward.”At Rs 886, the stock is trading at 15x FY13 earnings and 1.3x FY12 core book, favorable risk reward in our view. We reiterate our BUY rating on the stock with target price of Rs 1162.”
Nirmal Bang on Q2 FY12 Result Update on Dena Bank has given a BUY call on the script. Dena Bank’s performance for Q2FY12 was above our estimates. The bank reported a net profit of Rs.193.6 crs in Q2FY12 resulting in a growth of 20.5% on a YoY basis and a QoQ increase of 15.2%. The bank witnessed marginal increase in gross NPAs resulting from shift to system based NPA recognition system. Dena Bank is currently trading at a very attractive valuation amongst the banking business space. At CMP, the stock is trading at 0.77x and 0.65x FY12E and FY13E Adj BVPS respectively. We maintain our BUY rating on the stock with a target price of Rs 116.
November 3rd, 2011
Closing prices as of 11 Oct 2011
SENSEX 16536.47 -20.76 (-0.13%) NIFTY 4974.35 -5.25 (-0.11%) CNX Midcap 6997.75 10.85 (0.16%) BSE Smallcap 6802.09 15.13 (0.22%).
Top gainers: Tata Motors, NTPC, Sesa Goa, SAIL, Sun Pharma, Bharti Airtel (up over 3% each), Hindalco, Jindal Steel and PNB (up over 2% each)
Top losers: Infosys (down over 3%), HCL Tech, TCS, ONGC and Wipro (down over 2% each)
Trouble at Maruti’s Manesar plant continues with the strike entering into the 5th day. The strike by workers at Suzuki Powertrain India (SPIL) and Suzuki Motorcycle India in support of their colleagues at Maruti’s Manesar plant also continued becoming to appear like a nightmare for Maruti. Maruti Suzuki India (BSE: 532500; NSE: MARUTI; ISIN: INE585B01010) closed marginally in the green at Rs. 1074.75 up Rs. 1.55 (0.14%).
Tata Coffee (BSE: 532301; NSE: TATACOFFEE; ISIN: INE493A01019) which zoomed 10+% yesterday after news of JV with Starbucks to open coffee outlets cooled off a little bit today. The script ended at Rs. 888.20 down Rs. 2.15 (-0.24%) on the BSE.
A small union of Dhanlaxmi Bank, AIBOC Kerala State Union is holding a dharna against Dhanlaxmi Bank. The Union says the bank is playing risky with public money invested in the bank. Dhanlaxmi Bank stock shaked a bit and tested the 52-week low but later cooled when the management came out and said that all is well with the bank. The script closed at Rs. 64.60 losing Rs. 6.90 (-9.65%) amidst a volume of 36.71m shares.
Infosys (BSE: 500209; NSE: INFY; ISIN: INE009A01021) was under pressure today ahead of its quarterly results announcement tomorrow. Kotak earlier said it feels the Infosys Management would give a downward revision of its $ revenue targets considering the situation in the west. Infosys is down Rs. 82.10 or 3.17% and closed at Rs. 2509.20.
October 11th, 2011
The Indian stock markets witnessed a volatile session today. The markets had an upward bias till noon but changed course post the opening of the European markets. A last minute recovery attempt too got foiled leaving no way but to close in the red.
Earlier, yesterday, a last hour recovery has helped the US markets (on Oct 4) to report a positive closing. The Dow closed at 10,808.71 points and is up 1.44%. The NASDAQ and S&P500 closed up 2.95% and 2.25% respectively indicating a not so gloomy situation. Shares of Apple sided down after the Wall Street reacted to the market reactions that the new iPhone isn’t that successful. Earlier (Oct 4) bled heavily. The FTSE 100, DAX and CAC 40 are all over 2.5% down.
The Asian markets that opened this morning (Oct 5) too witnessed volatile sessions. The European markets however opened (for Oct 5) in the green.
The SENSEX dipped down by 72.45 points and closed at 15792.41 down 0.46%. The NIFTY closed trade at 4751.30 losing 20.85 points or 0.44%. The CNX Midcap closed at 6823.50 losing 53.30 points or 0.78% in trade today while the BSE Smallcap is marginally in the red at 6644.90 or down 60.03 (0.9%).
Top losers of the day include SBI, Hindalco (down over 3% each), BHEL, Kotak Mahindra, ICICI Bank, Jindal Steel, HDFC Bank, Rel Capital and Maruti Suzuki (down over 2% each).
Leading gainers of the day include Jaiprakash Asso (up 4%), DLF and Dr Reddys Labs (up 2% each), Sun Pharma, Reliance Comm, Tata Power, Reliance Power, IDFC and ITC (up 1% each).
EPC company Punj Lloyd (BSE: 532693; NSE: PUNJLLOYD; ISIN: INE701B01021) is in news today for getting a contract from Qatar Co. for which Punj will set up 8,000 tn/yr polysilicon plant in Qatar. PL was always good at getting orders but its problems are mostly on the execution side. The stock has corrected heavily in the last 2 years or so. The script closed at Rs. 52.95 today gaining Rs. 0.55 (1.05%) with a volume of 4.34m shares traded.
Tata Chemicals (BSE: 500770; NSE: TATACHEM; ISIN: INE092A01019) is in news today that Reliance Industries will suspend gas supply to 4 fertiliser plants in Gujarat starting Thursday. The companies that will be affected are IFFCO, KRIBHCO, Shyam Fertilisers, Tata Chem. Tata Chemicals closed at Rs. 295.00 losing Rs. 6.60 (-2.19%) with a volume of 575.36k shares traded.
Rolta corrected 9.17% today after news came out that the promoters pledge stands at 5% from 4.5% earlier. The script closed at Rs. 70.30 down Rs. 7.10.
Moody’s has reaffirmed the C- rating for ICICI Bank. The script closed at Rs. 779.25 down 2.71%.
Credit Suisse has given a NEUTRAL rating to ICICI Bank in its report dated 30 Sep 2011. They profitability of the bank is likely to show some pressure starting Q2. The stock has a target of Rs. 934.
October 5th, 2011
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