Posts filed under 'Banks & NBFC'
ICICI Bank (BSE: 532174; NSE: ICICIBANK; ISIN: INE090A01013) is amongst its other banking peers to have seen new heights in the recent bull run.
ICICI Bank has hit a new 52-week high on trades on October 4, 2010 when it touched Rs. 1169.75 on the BSE during intra-day.
The script opened at Rs. 1140 touched a new high of 1169.75 and low of 1140 before closing at 1157.75.
Brokerage Recommendation
Choksey, speaking to a business media outlet on Sep 29, 2010 has said that ICICI Bank can see a 25-305 kind of appreciation.
While a section of market experts feel that there is still some upward gap left for select banking stocks, some others feel the banking stocks are bubbling and it is time to book profits.
News
ICICI Bank, on September 30, 2010 has said that it is seeing a 18% loan growth during 2010/11 and 20-22% growth in FY2012.
The recent Supreme Court verdict that the assignment of debt between banks (aka sale of Non-Performing Assets) has come as a good news for the banks.
October 5th, 2010
The Banking and Financial Services sector is undoubtedly the most bullish sector in the recent stock market rally. While valuations of most of the stocks are expensive, there are indeed few pockets left. We take a look at some of the recent stock recommendations from some brokerage houses and what their picks are from this segment.
Mahindra & Mahindra Financial Services - Midcap Pick - Religare - 1-Oct-10 - - CMP: 642
Axis Bank - Buy - IIFL India Private Clients - 1-Oct-10 - Target: 1575 - CMP: 1540
ICICI Bank - Preferred Pick - Kotak Securities - Private Client Research - 1-Oct-10 - -
Bank of Baroda - Preferred Pick - Kotak Securities - Private Client Research - 1-Oct-10 - -
Union Bank of India - Preferred Pick - Kotak Securities - Private Client Research - 1-Oct-10 - -
Andhra Bank - Preferred Pick - Kotak Securities - Private Client Research - 1-Oct-10 - -
Axis Bank - Preferred Pick - Kotak Securities - Private Client Research - 1-Oct-10 - -
J&K Bank - Preferred Pick - Kotak Securities - Private Client Research - 1-Oct-10 - -
India Infoline - Preferred Pick - Kotak Securities - Private Client Research - 1-Oct-10 - -
IDFC - Preferred Pick - Kotak Securities - Private Client Research - 1-Oct-10 - -
SBI - Buy - Nomura - 27-Sep-10 - Target: 3765 - CMP: 3181
Shriram Transport Finance - Downgraded to Hold - Citi - 27-Sep-10 - Target: 830 - CMP: 759.9
October 2nd, 2010
On the BSE
The Bombay Stock Exchange Sensex has closed the day gaining a mere 22.79 points testing the 17K level once again. The Sensex closed at 16,994.49 compared to the previous close of 16,971.70. The BSE Midcap and Smallcap indices closed the day gaining 41.56 points and 69.32 points respectively.
All others, sans the Consumer Durables and PSU sectoral indices, closed in the green. Reality stocks are once again the gaining sector on the BSE. The Reality Sectoral Index gained 60.28 points today.
On the NSE
The NSE Nifty closed the day at 5088.70 gaining 0.17% in trade today. The CNX IT gained 0.16%.
Amongst NSE gainers today are Hero Honda, DLF, Suzlon, Ambuja Cement, ABB, Jindal Steel, GAIL, Sun Phara, Bharti Airtel and JP Associates. Amongst the losers are Tata Motors, Axis Bank, Wipro, Unitech, Ranbaxy, Hindalco, SAIL, HCL Technologies, BHEL and Power Grid.
Analyst Stock Recommendations – SREI Infrastructure Finance Ltd (BSE: 523756; NSE: SREINTFIN; ISIN: INE872A01014 )
Firstcall Research in its research report dated March 4, 2010 is giving a BUY call on the script. The script is currently trading at Rs. 74.85 levels and has a Market Cap of 8704.31 mn. It has an EPS of Rs. 7.06, a P/E (x) of 10.60; P/BV(x) of 0.77. The target price given for the script is Rs.90.00
Friday, March 05, 2010 18:24:11 PM
March 5th, 2010
Key announcements :
Hikes CRR by 75bps to 5.75% of NDTL effective 50bps from Feb’13 2010 and 25 bps from Feb 27,2010
SLR, reverse repo, repo rate kept unchanged
Ups end Mar-2010 WPI inflation estimate to 8.5% from 6.5% in October policy
FY10 GDP growth projection increased to7.5% from 6.0%
Cuts FY10 non food credit growth projection to 16% from 18% Oct policy
Cuts FY10 money supply growth estimate to 16.5% vs 17% earlier
Aggregate deposits likely to grow 18% FY10 in the system
Impact Analysis :
We believe CRR hike of 75 bps, without tinkering other key policy rates, on immediate basis is a step to curb the excess liquidity in the system as the banking system are depositing over Rs.1 lakh crore on a daily basis under LAF window. The hike will suck away excess liquidity of Rs.36000 crore from the system which will help curb some inflationary expectations though we believe food inflation can’t be contained via CRR hike directly since it is purely a supply side phenomenon.
We prefer banks like SBI (which has ample liquidity of Rs.75000 crore to combat the hike), OBC (still available at <1x ABV), Bank of Baroda (Excellent results with strong asset quality). Among private sector we remain bullish on Axis Bank and HDFC Bank.
Media Contact: Saksham Maheshwari, IPO & Transactions Group, Adfactors PR Pvt Ltd, Shalaka, Maharshi Karve Marg, Cooperage, Mumbai 400021. Tel: +91 22 2281 3565, Fax: +91 22 2281 3569, Mob:+91 9930990927, Email: saksham.maheshwari@adfactorspr.com, saksham1985@gmail.com
January 29th, 2010
India-First Life Insurance formed by Bank of Baroda (44% stake), Andhra Bank (30%) and Legal and General (26%) is planning to a business of Rs. 200 crore by the end of March 2010. First Life has applied for license to the Insurance Regulatory and Development Authority (IRDA) for licenses and is planning to open 50 branches of its own.
India-First Life will start offering its products with the launch of three plans, all three of which as ULIP plans. The plans cater to savings, children and retirement planning.
January 1, 2010
January 2nd, 2010
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