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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...

Bharat Forge Ltd.

The dollar index has been rising from the last one month and seems to be heading higher. The stock market is inversely correlated to the dollar index. If dollar index starts falling from here, then we can see a good really in the stock market. Bharat Forge, a steel forging and general engineering company, posted good results in Q3 FY10. The net sales rose 14% and the net profit was up at Rs.38 cr. as against Rs.4.3...

Indian Steel Industry

Current Scenario 1. Indian economy growing @ 8 to 9 %, is one of the fastest growing economies in the world. 2. Industrial prodn. showing encouraging trends. Index of industrial production for Capital goods is growing @ 8.4% CAGR and growth in index for consumer durables was @10.5% CAGR during 2005-06. 3. The 10th plan investment in infrastructure has been envisaged at around Rs.880,550 crores. 4. The major sector...

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