Posts filed under 'Banks & NBFC'
The following security of Dewan Housing Finance Corporation Ltd shall be listed and admitted to dealings on the Exchange w.e.f. March 14, 2008. Trading shall be in the Normal Market Segment – Compulsory Demat (Rolling Settlement) for all investors.
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Sr. No.
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Symbol
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Security Description
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Series
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ISIN Code
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1
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DEWANHOUS
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1% Redeemable Non Convertible Preference shares of Rs. 10/- each.
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P3
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INE202B04032
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March 12th, 2008
NSE Press Release
The media had reports that Future Capital Holdings Limited is in talks with Centrum Capital to acquire 10% stake.
The Exchange, in order to verify the accuracy or otherwise of the information reported in the media and to inform the market place so that the interest of the investors is safeguarded, had written to the officials of the company.
Reply is awaited from Future Capital Holdings Limited.
March 11th, 2008
Private sector banks, particularly Kotak Mahindra Bank, are in news that RBI is reviewing the conducting a scrutiny / review to check the equity exposure of the banks and their possible impact on their earnings. Needless to say, the banking stocks of most private banks has an impact. While the stock of KMB came back into the green, leaders ICICI Bank and HDFC Bank are in the red.
Bank Nifty is at 7232.25 compared to previous closure of 7272.50 and is down -0.55%. Kotak Mahindra Bank stock is trading at Rs. 600.00, touched a high of 622.00 and low of 581.60.
March 11th, 2008
The media had reports that ICICI Bank Ltd has lost $264 million till Jan 31, 2008 due to subprime crisis.
The Exchange, in order to verify the accuracy or otherwise of the information reported in the media and to inform the market place so that the interest of the investors is safeguarded, had written to the officials of the company.
ICICI Bank Ltd has vide its letter inter-alia stated, “The bank has no material direct or indirect exposure to US sub-prime credit. The widening of credit spreads in the international markets have resulted in a negative mark-to-market impact on the credit derivatives and fixed income investment portfolios of the Bank and its overseas banking subsidiaries, while there has been no significant deterioration in actual credit quality of the underlying investments. ICICI Bank and its overseas banking subsidiaries have an aggregate exposure of USD 2.2 billion in credit derivatives. As of January 31, 2008, the mark-to-market negative on this portfolio due to movement of credit spreads was about US$ 155 million of which USD 88 million had been provided for in the financial statements of the bank and its subsidiaries for the nine months ended December 31, 2007. In addition, ICICI Bank and its overseas banking subsidiaries have fixed income investment portfolios which have a mark-to-market negative due to widening of credit spreads. As of January 31, 2008 this negative was about US $108 million of which US $ 101 million had been accounted for in the financial statements as of December 31, 2007. This includes mark-to-market on the available for sale portfolio which has been accounted for in the shareholders’ equity. It may be noted that unrealized gains on ICICI Bank’s other investment portfolio has not been considered in above.”
March 4th, 2008
Dena Bank is an interesting mid-cap PSU Banking stock. The bank, like its peers, is down following the news of the bank agricultural loan waivers announced in the recent Indian Budget. Looking at the share holding pattern, 51.19% of shares are held by the Government, 23.67% by Non-Institutions and 15.15% by FII (as of December 31, 2007)
The 52-week high for the script is Rs. 98.25 and 52-week low is Rs. 28.10. The script is trading at Rs. 61 – Rs. 63 levels this morning.
The BSE Sectoral Index Bankex is up 0.20% while Bank Nifty is up 0.32% today. Its other peer banks include Allahabad Bank, Andhra Bank, Bank of Baroda, Bank of India, Bank of Maharashtra, Canara Bank, Central Bank, Corporation Bank, IDBI, Indian Bank amongst others
March 4th, 2008
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