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Sector Outlook

Bank Sector Rating: Positive In 3Q 2010, our coverage universe reported positive growth in Net interest income (NII) with decent growth in advances except ICICI Bank. Net interest margins has grown up on back of falling cost of deposit as banks have bolstered their CASA base. We continue to have bullish view on sector since IIP (Index of Industrial production) can surprise on upside which will ignite private capital...

Q3 2009 results and India Inc.

The much-expected RBI rates cuts and the second economic stimulus package has come and gone. Despite the announcements, the markets remained range bound because of the expected Q3 results from the next week. Well, results are not expected to be good in most of the sectors. But there are some sectors, which have shown a positive trend and would post a good performance, providing the balance. Among all sectors, the...

Great Hopes : 2009

What is the difference between a person who starts taking bath if he accidentally falls into a river and a person who says that “O” is the last letter in Zero, instead of the first letter in Opportunity…well, a great difference. The former is Optimist and the latter one is Pessimist. The terrible 2008 has gone and once we bid adieu to the previous year, the coming of New Year holds a bag of new hopes,...

PSU BANKS – USHERS IN SOME QUANTUM OF SOLACE

For a man gasping for air, a whiff of oxygen would bring life back. The RBI is acting like the much needed whiff of oxygen for the beleaguered Indian economy which is gasping for breath and survival. The best way to kick start the slowing economy is by infusing liquidity into the system. RBI has realized this magic mantra and since last week, has been taking steps in that direction. SBI set the ball rolling and was...

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