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HDFC bank up 54% in the year; JP Morgan says ‘buy’
Posted on 19th September 2017
JP Morgan has raised the target for HDFC bankto Rs 1,975, from the previous target price of Rs 1,720; a near 15% increase. The shares have returned more than 54% since January, as against the BSE Sensex returns of 21.77% in the year.

The shares were trading flat at Rs 1,859.75 on Tuesday morning. The global asset management firm expects that HDFC bank’s earnings will grow at a steady pace, as there’s minimal asset quality risk for the bank. Further, JP Morgan estimates that the EPS will grow at 15% for the next three years.

The private sector lender had reported more than a 20% increase in net profit to Rs 3,893.84 crore for the first quarter of 2017-18 fiscal, as against Rs 3,238.91 crore in the April-June quarter of last fiscal. Total income rose to Rs 22,185.38 crore during the quarter under review, up 14.81% against Rs 19,322.63 crore in the same period last year. Net NPA reported by the bank stood at 0.44% of net advances as on 30 June as against 0.32% reported in the first quarter of the previous fiscal.

Sandip Bhatia, Head – India Equities, Macquarie Capital Securities too is bullish on the scrip. HDFC Bank, YES Bank and ICICI Bank are his bets from the financial services space, as told to ET Now last month. Despite such stellar outperformance by HDFC bank scrip in the year so far, Sandip believes that the Bank’s stock is attractive at these levels. The S&P BSE Bankex is up by 35% since January this year.

Related Companies: HDFC Bank   

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7th pay commission: Good news for Jammu & Kashmir employees
Posted on 24th April 2018
The government of Jammu and Kashmir has decided to implement the recommendations of the seventh pay commission. With this move Jammu and Kasmir has become first state to do so. The J&K employees would get their revised salaries from this month. The J&K government announced the good news from its twitter handle on Tuesday.

Trai vs Bharti Airtel, Idea Cellular: TDSAT stays predatory pricing order
Posted on 24th April 2018
In a relief to old operators, telecom tribunal TDSAT today put an interim stay on reporting requirement of 'segmented offers' and the new definition for ascertaining 'significant market power' for predatory pricing by Trai.

The Telecom Disputes Settlement and Appellate Tribunal (TDSAT) in its interim order today, however, placed a qualifier on the reporting requirements, saying the Telecom Regulatory Authority of India (TRAI) will be entitled to ask for details of segmented discounts or concessions "for analysis" but that "no penalty shall be imposed on that basis" till further orders are given in the ongoing appeals by Bharti Airtel and Idea Cellular.


ICICI Securities IPO under Sebi scanner
Posted on 24th April 2018
Mumbai: The stock market regulator Securities and Exchange Board of India (Sebi) has sought details of a large investment made by ICICI Prudential Mutual Fund in the flop IPO of affiliate ICICI Securities Ltd, two people aware of the matter said.

ICICI Securities had to cut its IPO size to Rs3,520 crore from the original target of Rs4,017 crore because of poor investor interest. Of this, a large chunk was bought by ICICI MF.


RIL surges 4%, adds Rs 22,000 crore in m-cap after Jio beats Airtel, Idea in monthly subscriber addition
Posted on 24th April 2018
Shares of Mukesh Ambani-controlled Reliance Industries Ltd surged nearly 4% on Tuesday emerging as the top gainers on BSE Sensex after Reliance Jio Infocomm Ltd outperformed India’s largest telecom company Bharti Airtel Ltd and Idea Cellular Ltd in monthly subscriber addition in the month of February. According to the data released by the telecom regulator TRAI (Telecom Regulatory Authority of India) on Tuesday, Reliance Jio Infocomm added about 87.4 lakh new subscribers in February.

M&M's tractor business now worth twice as much as automotive division
Posted on 24th April 2018
Mahindra & Mahindra (M&M), the country’s biggest tractor maker, has seen its market cap swelling by over Rs 100 billion since the start of the new financial year, giving it a valuation of Rs 1.03 trillion. The stock hit a new high of Rs 839 on Tuesday, showing a cumulative increase of over 12 per cent since the beginning of April.

The only visible trigger for this price increase is the forecast of a normal monsoon by private forecaster Skymet, as well as the India Meteorological Department (IMD).


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