BSEIndia: All Stock Market News: 09/16/10

Thursday, September 16, 2010

[investwise] Basel III Stokes Bank Stocks

Bank stocks rise in Europe and Asia on the new Basel III agreement. Investors will be watching economic reports for clues on where stocks are headed this week.

The Bank of International Settlements announced Basel III, with new capital requirements for international banking. The BIS will instruct banks to hold tier 1 capital equal to 7 percent of risk-bearing assets. Critics are concerned that the more stringent capital requirements come too late and have too long a lead-in time.

Bank stocks in Europe and Asia were up the Basel III news and the Financial Sector SPDR ETF (XLF) was up 1.4 percent in premarket trading.

Safe Harbor Statement:

Some forward looking statements on projections, estimates, expectations & outlook are included to enable a better comprehension of the Company prospects. Actual results may, however, differ materially from those stated on account of factors such as changes in government regulations, tax regimes, economic developments within India and the countries within which the Company conducts its business, exchange rate and interest rate movements, impact of competing products and their pricing, product demand and supply constraints.

Nothing in this article is, or should be construed as, investment advice.

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[investwise] DCB-QIP To Lower The Aga Khan Foundation Stake, New Investors Get An Entry

The Aga Khan Fund for Economic Development (Akfed) will reduce its stake in Development Credit Bank Ltd (DCB) to 10% from 24.86% in the next three-four years to comply with the nation's rules.

The Reserve Bank of India (RBI) has issued 2 branch licences to DCB, with 3 more awaiting the nod.

Late in 2009 DCB raised Rs81 crore through a qualified institutional placement. This bought down the promoter holding in the bank to 24.86% from 26%. The QIP of Rs 150 cr planned for December 2010, will further reduce the stake of AKFED and allow more institutional investors to move into the stock.

DCB, which operates through 82 branches is seeking to attract about five-seven long-term investors along with our core investor, Akfed, who will continue to supervise the working of the bank.

Some of the existing key investors in DCB are Al Bateen Investment Co. Ltd of the United Arab Emirates, Tata Capital Ltd, DCB Investments Ltd, a special purpose vehicle floated by UK-based asset management company Schroders Plc, Motilal Oswal Securities Ltd and Housing Development Finance Corp. Ltd. In addition there are brokerage houses Edelweiss and Religare alongside mutual fund BNP Paribas, which hold between 1 to 2 per cent of the DCB thereby raising institutional plus promoter interest to nearly 50 per cent of the Equity.

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Nothing in this article is, or should be construed as, investment advice.

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Info Edge India - Fixes Record Date for Bonus Issue
Info Edge (India) Ltd has informed BSE that the Board of Directors vide circulation on September 16, 2010 approved to keep September 28, 2010 as the Record Date for determining the entitlement of bonus allotment in the ratio of 1:1 (i.e. one new equity share held) to the equity Shareholders whose name appear on the Register of Member on the Record Date.

Kilitch Drugs - Fixes Record Date for Dividend
Kilitch Drugs India Ltd has informed BSE that the Company has fixed the Record Date on October 15, 2010 for the purpose of payment of Dividend, subject to the approval of the members of at the ensuing 18th Annual General Meeting scheduled to be held on September 20, 2010.

Kilitch Drugs - Board recommends Dividend
Kilitch Drugs India Ltd has now informed BSE that the Board of Directors at their meeting held on August 10, 2010 had recommended the dividend of Rs. 1/- (10%) on Rs. 10/- per share on 13202122 equity shares of Rs. 10/- each aggregating to Rs. 13202122/- subject to the approval of the members at the forthcoming 18th Annual General Meeting which is scheduled to be held on September 20, 2010.

Octant Inter - Updates on Amalgamation and Demerger
Octant Interactive Technologies Ltd has informed BSE that the Company Petition for the Composite Scheme of Amalgamation M/s. Swarnajyothi Agro & Exports Ltd, M/s. Indrabati Energies Pvt. Ltd. and M/s. Vanishekar Green Energy Pvt. Ltd. with the Company and Demerger of finance business division into M/s. Five X Finance & Investment Ltd. has been admitted by the Respective Hon'ble High Courts at Mumbai and Hyderabad. The Company is ...

Acrow India - Board recommends Dividend
Acrow India Ltd has informed BSE that the Board of Directors of the Company at its meeting held on July 27, 2010, has recommended a Dividend @ 50% i.e. Rs. 5/- per Equity Share of Rs. 10/- each.

Seax Global - Board to consider Stock Split
Seax Global Ventures Ltd has informed BSE that a meeting of the Board of Directors of the Company will be held on September 20, 2010, inter alia, to discuss Stock Split of Shares.

Ravalgaon Sugar - Board recommends Dividend
Ravalgaon Sugar Farm Ltd has informed BSE that the Board of Directors of the Company at its meeting held on July 27, 2010, has recommended a Dividend @ 150% i.e. Rs. 75/- per Equity Share of Rs.50/- each.

Maharashtra Elek - Equity Shareholders approves Scheme of Amalgamation
Maharashtra Elektrosmelt Ltd has informed BSE that Equity Shareholders of the Company at its Court Convened Meeting held on August 25, 2010, approved the Scheme of Amalgamation between Maharashtra Elektrosmelt Ltd and Steel Authority of India Ltd, subject to necessary provisions and approvals.

Tirupati Sarjan - Fixes Record Date for Stock Split & Bonus Issue
Tirupati Sarjan Ltd has informed BSE that September 29, 2010 has been fixed as the Record Date for the purpose of sub-division/stock split of Rs. 10/- per share of the Company into the shares of Rs. 5/- each & issue of Bonus shares in the ratio of 1 bonus share for every 1 equity share held.

[investwise] Stock Tips and NIFTY OUTLOOK FOR 17/09/2010

NIFTY OUTLOOK FOR 17/09/2010

BULLS THINKING ABOUT 6000 AND BEARS RETUN BACK
INTO MARKET. VOLATILE START INCRESING. FII'S
SITTING WITH CASH AND BUYING.. BUYING… AND
BUYING…..

Read the full post.....

INTRADAY LEVEL'S FOR NIFTY COUNTERS for 17SEP2010

Symbol BUY ABV TGT-1 TGT-2 SELL BLW TGT-1 TGT-2

ABB 821.4 828.9 841.1 807.7 800.2 788.1
ACC 972.2 979.1 990.6 959.2 952.3 940.9
AMBUJACEM 136.9 137.6 138.7 135.7 135.0 133.9
AXISBANK 1500.6 1517.7 1545.7 1469.0 1451.9 1424.0

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Technical View on nifty For 17th Sept.

Nifty future today witnessed a high volatile session and in the end made a closing in the red zone. Today it crossed the level of 5900 but was not be able to sustain above it. In the next trading sessions we might see some consolidation in the market. In the downside it may get the immediate short term support close to the level of 5750 to 5760.

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STOCK TIPS

Hold, Berger Paints (India) Ltd. SLRs 94
Buy Mercator Lines Ltd. SL 52.20 – TG 58.80

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[investwise] Search Homes With ICICI Home Search

Gurgaon's million dollar villas will remind you of Spain.

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Nothing in this article is, or should be construed as, investment advice.

--- On Thu, 9/16/10, ROHIT KHOSLA <rohitchandkhosla@yahoo.com> wrote:

From: ROHIT KHOSLA <rohitchandkhosla@yahoo.com>
Subject: Fw: Search Homes With ICICI Home Search
To: "Maverick" <rajivhanda@yahoo.com>
Date: Thursday, September 16, 2010, 10:59 AM

--- On Tue, 14/9/10, ICICI Bank <epromotions@icicibank.com> wrote:

From: ICICI Bank <epromotions@icicibank.com>
Subject: Search Homes With ICICI Home Search
To: ROHITCHANDKHOSLA@yahoo.com
Date: Tuesday, 14 September, 2010, 8:04 PM

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[investwise] Gold Makes A New High-$1280/oz...Ashanti to cover $ 2Bn in Gold Futures

Gold prices hit an intraday high of $1,280 per ounce on Thursday-a new all time high. The biggest factor pushing the metal higher was Anglo Ashanti's announcement that they will cover $ 2 Bn in Forward Sales of Gold, going as far as into Jan 2011. This lends credence to the Street view that Gold was headed even higher, and Anglo Ashanti was being opportunistic in taking off the hedges.

Meanwhile, investors continue to flock to gold as a safe haven investment as uncertainty swirls around the market with regard to the health of the global economy.

And gold bugs aren't the only ones benefiting from the higher gold prices today -- a look at some gold mining stocks today reveals some pockets of strength in an otherwise sideways market. Barrick Gold ( ABX - news - people ) is higher by 0.8%, Kinross Gold ( KGC - news - people ) has gains of 3.5% and Eldorado Gold ( EGO - news - people ) has picked up 1%.

Safe Harbor Statement:

Nothing in this article is, or should be construed as, investment advice.

--- On Thu, 9/16/10, Bhagirath Verma <verma.bhagirath@yahoo.in> wrote:

From: Bhagirath Verma <verma.bhagirath@yahoo.in>
Subject: non receiving of stock reports
To: "rajiv handa" <rajivhanda@yahoo.com>
Date: Thursday, September 16, 2010, 6:34 PM

Dear Sir

Since last few days I am not receiving of your stock rearch report. Kindly add me in your group

With warm regards

Bhagirath Verma

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[investwise] Hold Karnataka Bank with a target of Rs 240-245 on crossing its resistance of Rs 185

Hold Karnataka Bank with a target of Rs 240-245 on crossing its resistance of Rs 185

Nifty may move to 5,950-6,000 level: Bull'sEye traders group

"Mixed global cues and good domestic cues keep market highly volatile but traded in positive zone with strong closing finally. Sensex shut shop at 19,502, up 155 points and Nifty at 5,860, up 65 points from the previous close

Read the full post.....

For 6 Months BUY Hikal Ltd Start Price: 460.00 | Target: 600.00

for 6 Months
BUY Hikal Ltd
Start Price: 460.00 | Target: 600.00

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[investwise] Dev Credit Bank (DCB) Proposes Rs 150 Cr QIP/Return To Profits

Development Credit Bank Proposes Rs 150 cr QIP/ Open 2 new branches in Gujarat/ Indicates return to Profits by Q3FY11

DCB's capital adequacy under Basel II is at 13.8% and most of

the capital is in Tier I. The Board of Directors and the shareholders have approved an issue of shares amounting to Rs 150 crore using the QIP route. This should be concluded in the ensuing quarter.

Quite recently the RBI has granted DCB the license to open two new branches. One in a place called Netrang (Bharuch District), it is a rural

branch and another place called Mandvi (Surat District), it is a semiurban

location. Both are in Gujarat.

This development should be considered positive because it has been quite some time since Reserve Bank of India has given any approval at all for branch licenses.

If DCB continues to perform well, it will be able to obtain a few more licenses from Reserve Bank of India in the coming months to open new branches.

The Q1FY11 performance indicates that DCB should return to profits by end Dec 2010.

Focus on Retail

DCB has targeted growth of about 20% this year, both on deposits and advances. In terms of operating profit the Q1FY11 operating profit was Rs. 22 Crores this quarter as compared to Rs. 19 Crores in the fourth quarter of last year.

DCB's strategy is to grow CASA, focus on Retail Term Deposits, diversify loan portfolio in home loans, SME, Micro SME, Agri, and Mid Corporate

Banking. In line with that strategy during Q1FY11 CASA grew in

absolute term by Rs.149 Crores and the CASA ratio stood at 36.0%.

DCB has strategised to keep CASA above 30% and that is the goal it is pursuing. During the last three consecutive quarters DCB has done better than it's target.

In terms of Retail Term Deposits it continues to grow it's Retail Term Deposits.

Concenterating on Credit To Housing/SME/Micro SMEs

Home loans portfolio have been rising on a month-on-month basis. DCB continues to do well on SME and Micro SME. All in all the Bank has been able to pursue growth in the chosen areas.

The older portfolio of Unsecured Personal Loans, Commercial Vehicles, etc., is being run down, so net of run down the Q1FY11 portfolio growth has been moderate this quarter, but by end of second quarter or by end of third quarter there should be a decent growth in the loan book.

Loan Coverage At 75 % Against RBI mandated 70%

The provisions were at Rs.25 Crores. The provisions for the retail

portfolio especially personal loans have come down and there should be more reduction in this provision in the second / third quarter of this year because it has already provided almost 90% of the NPA in Unsecured Personal Loans.

The coverage ratio that is expected by Reserve Bank of India by September 2010 is 70%. The Q1FY11 coverage ratio was 75.2%.

Safe Harbor Statement:

Nothing in this article is, or should be construed as, investment advice.

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BSEIndia: All Stock Market News

Thursday, September 16, 2010

[investwise] Basel III Stokes Bank Stocks

[investwise] DCB-QIP To Lower The Aga Khan Foundation Stake, New Investors Get An Entry

[investwise] Stock Tips and NIFTY OUTLOOK FOR 17/09/2010

NIFTY OUTLOOK FOR 17/09/2010

INTRADAY LEVEL'S FOR NIFTY COUNTERS for 17SEP2010

Technical View on nifty For 17th Sept.

STOCK TIPS

[investwise] Search Homes With ICICI Home Search

[investwise] Gold Makes A New High-$1280/oz...Ashanti to cover $ 2Bn in Gold Futures

[investwise] Hold Karnataka Bank with a target of Rs 240-245 on crossing its resistance of Rs 185

Hold Karnataka Bank with a target of Rs 240-245 on crossing its resistance of Rs 185

Nifty may move to 5,950-6,000 level: Bull'sEye traders group

For 6 Months BUY Hikal Ltd Start Price: 460.00 | Target: 600.00

[investwise] Dev Credit Bank (DCB) Proposes Rs 150 Cr QIP/Return To Profits

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