Author: stockviz

Daily News Summary for Jan/24

JSWSTEEL [stockquote]JSWSTEEL[/stockquote]
    JSW Steel to experiment with inferior quality ore

BHARTIARTL [stockquote]BHARTIARTL[/stockquote]
    Bharti Airtel, Idea set stage for call rate hike

HEROMOTOCO [stockquote]HEROMOTOCO[/stockquote]
    Output hit at Hero plant

RCOM [stockquote]RCOM[/stockquote]
    Analysis: RCOM
    RCom net falls 43% on finance costs

TATAMTRDVR [stockquote]TATAMTRDVR[/stockquote]
    JLR likely to see margin fall

EXIDEIND [stockquote]EXIDEIND[/stockquote]
    Exide in full charge at ING Vysya

HAVELLS [stockquote]HAVELLS[/stockquote]
    Havells eyes US as other markets cool

ORISSAMINE [stockquote]ORISSAMINE[/stockquote]
    OMDC retains lease of 3 Orissa mines

ONGC [stockquote]ONGC[/stockquote]
    ONGC shares jump 5% on natural gas price hike hope

COLPAL [stockquote]COLPAL[/stockquote]
    Strike at Colgate-Palmolive Goa unit ends

VIJAYABANK [stockquote]VIJAYABANK[/stockquote]
    Vijaya Bank Q3 net profit rises marginally YoY at Rs 127 cr

MAHABANK [stockquote]MAHABANK[/stockquote]
    Bank of Maharashtra to raise equity capital upto Rs 1062 crore

POWERGRID [stockquote]POWERGRID[/stockquote]
    Jindal Steel wins Rs 500 cr order from Power Grid

SHOPERSTOP [stockquote]SHOPERSTOP[/stockquote]
    Shoppers Stop opens one M.A.C door at Shoppers Stop

GOLDBEES [stockquote]GOLDBEES[/stockquote]
    Gold down Rs 95 on weak global cues
    Gold futures fall on global cues, profit-booking

RALLIS [stockquote]RALLIS[/stockquote]
    Rallis India to hike stake in Zero Waste Agro

PRESTIGE [stockquote]PRESTIGE[/stockquote]
    Prestige fixes IPP price at Rs 160 per share

SUZLON [stockquote]SUZLON[/stockquote]
    Suzlon gets nod for debt revamp

TATACOMM [stockquote]TATACOMM[/stockquote]
    Tata Comm incurs Rs 67 cr liability on structural changes

MARUTI [stockquote]MARUTI[/stockquote]
    Maruti Suzuki mulls India’s first small hybrid car

Categories

Daily News Summary for Dec-13

COALINDIA [stockquote]COALINDIA[/stockquote]

UNITECH [stockquote]UNITECH[/stockquote]

MARUTI [stockquote]MARUTI[/stockquote]

CORPBANK [stockquote]CORPBANK[/stockquote]

RELIANCE [stockquote]RELIANCE[/stockquote]

GOLDBEES [stockquote]GOLDBEES[/stockquote]

CANBK [stockquote]CANBK[/stockquote]

HDFCBANK [stockquote]HDFCBANK[/stockquote]

SATYAMCOMP [stockquote]SATYAMCOMP[/stockquote]

KOUTONS [stockquote]KOUTONS[/stockquote]

TATAMOTORS [stockquote]TATAMOTORS[/stockquote]

KFA [stockquote]KFA[/stockquote]

NATIONALUM [stockquote]NATIONALUM[/stockquote]

ICICIBANK [stockquote]ICICIBANK[/stockquote]

JSWSTEEL [stockquote]JSWSTEEL[/stockquote]

Categories

Indian banks: The pendulum swings again

In May SBI’s new chairman announced dire results, with lower lending margins, provisions for pensions and extra charges taken against its loans. The hit, including forfeited profits, was some $2.5 billion, equivalent to over a tenth of the bank’s equity. Since its capital ratios are too low to support fast growth, SBI needs to raise more equity. That means persuading the government, which does not want its 59% stake diluted, to stump up: not an easy task.

With rates rising and the economy slowing, some fear more bad debts could emerge at the state banks that lent freely during the downturn. Meanwhile the private banks seem perkier, with their share of loans beginning to rise. ICICI’s chief executive, Chanda Kochhar, says that after two years of building more branches to suck in sticky deposits, the bank is “in a happy situation” and ready to start increasing credit again. Aditya Puri, the boss of HDFC Bank, which remains the darling of investors thanks to its metronomic performance, plans to keep expanding quickly, too. Other financial firms with banking licences, such as Kotak Mahindra, have been shifting towards the lending business and away from capital markets where profitability has fallen, partly thanks to a rush of foreign investment banks into India.

Indian banks: The pendulum swings again | The Economist.

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