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nivegulu 9 posts  |  Last Activity: Mar 12, 2015 1:33 PM Member since: Oct 9, 2011
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  • RBI allows Indian banks to reverse provisions on sale of some NPA's. Also, the India Nifty and Bank Nifty will bounce back from these technically oversold levels: Fast(3) K, Slow(3,3,5) K, MACD(close,12,26), RSI(close,14), Percentage Williams(10), and DMI(14) - (all at oversold levels) to ~9100 and ~20500 respectively, within a week's time. Source: Yearly Chart(s) fom Tradecision(tm). These technical indicators / oscillators are all statistically significant with an R^2 above 93 percent in a nonlinear time based (price vs. osc. value, t) regression model for a historical period of 1 year based upon the daily closing price of the indices taken separately and individually for each indicator.

    Sentiment: Strong Buy

  • From Bloomberg TV today night: Indian PSB's (public sector banks) to issue DVR's (shares) if govt. stake is reduced to below 50% (i.e. through imminent divestment) - process of which is already underway.

    Sentiment: Strong Buy

  • Bullish crossover above 0 seen in the MACD, FastK moving bullishly upwards from oversold levels of 20, and RSI moving upwards from 55. These three indicators are the most significant statistically in an MLR time based model for the past year's historical data. Expect ~20400 on the spot Bank Nifty in 2 days or so.

    Sentiment: Strong Buy

  • nivegulu by nivegulu Mar 7, 2015 3:57 AM Flag

    The ECB QE liquidity will start flowing into the euro and asian mkts. on monday where interest rates are decreasing. Also, the FED will not hike sooner than expected because wage growth is stagnant and there is only low quality of job growth. They do not want to make the mistake of the 1930's and tighten sooner than expected, as reported by an analyst on cnbc u.s.a. Apparently this view is supported by Ben Bernanke as well. Moreover all the 31 u.s banks passed the stress test. This bodes well for the Indian Bank index.

    Sentiment: Strong Buy

  • "Reuters | Updated On: February 14, 2015 14:52 (IST).
    Mumbai: India's HDFC Bank Ltd said on Saturday its quarterly net profit grew by a fifth, helped by a surge in corporate and retail credit demand amid hopes of a pick-up in Asia's third-largest economy.
    New Delhi expects the economy to grow an annual 7.4 per cent in the year ending in March, faster than a revised 6.9 per cent a year earlier.
    Banks in India have been hurt by an economic slowdown in the past two years that has weighed on credit growth and led to a spike in bad loans, though private lenders such as HDFC Bank have been relatively less impacted by bad loan problems than their state rivals.
    HDFC Bank's Deputy managing director Paresh Sukthankar said demand for corporate loans should continue to improve in coming quarters as small and mid-sized firms also start investing to boost capacity.
    The second-biggest Indian private sector lender by assets said net profit rose to Rs 2,795 crore ($450.33 million) in its fiscal third quarter to December 31, from Rs 2,326 crore in the same period a year earlier.
    Analysts on average had expected the bank to post a profit of Rs 2,780 crore, according to data compiled by Thomson Reuters.
    The bank's advances grew 17 per cent in the quarter to Rs 3.5 lakh crore, while net non-performing loans as a percentage of net loans was 0.3 per cent, unchanged from the September quarter.
    HDFC Bank, the most-valuable lender in India, this month raised $1.6 billion from stock sales in the United States and India to boost capital ahead of an expected pickup in economic growth that will boost credit demand.
    "We are extremely well capitalised and have enough capital to support growth," Sukthankar said.
    After rising 43 per cent in 2014, HDFC Bank shares have added 12 per cent this year, outperforming the broader market index. The main bank stock index surged nearly 65 per cent last year and is up just over 3 per cent this year.
    ($1 = Rs 62.0658)© Thomson Reuters 2015".

    Sentiment: Strong Buy

  • "Mumbai: India's HDFC Bank Ltd said on Saturday its quarterly net profit grew by a fifth, helped by a surge in corporate and retail credit demand amid hopes of a pick-up in Asia's third-largest economy.
    New Delhi expects the economy to grow an annual 7.4 per cent in the year ending in March, faster than a revised 6.9 per cent a year earlier.
    Banks in India have been hurt by an economic slowdown in the past two years that has weighed on credit growth and led to a spike in bad loans, though private lenders such as HDFC Bank have been relatively less impacted by bad loan problems than their state rivals.
    HDFC Bank's Deputy managing director Paresh Sukthankar said demand for corporate loans should continue to improve in coming quarters as small and mid-sized firms also start investing to boost capacity.
    The second-biggest Indian private sector lender by assets said net profit rose to Rs 2,795 crore ($450.33 million) in its fiscal third quarter to December 31, from Rs 2,326 crore in the same period a year earlier.
    Analysts on average had expected the bank to post a profit of Rs 2,780 crore, according to data compiled by Thomson Reuters.
    The bank's advances grew 17 per cent in the quarter to Rs 3.5 lakh crore, while net non-performing loans as a percentage of net loans was 0.3 per cent, unchanged from the September quarter.
    HDFC Bank, the most-valuable lender in India, this month raised $1.6 billion from stock sales in the United States and India to boost capital ahead of an expected pickup in economic growth that will boost credit demand.
    "We are extremely well capitalised and have enough capital to support growth," Sukthankar said.
    After rising 43 per cent in 2014, HDFC Bank shares have added 12 per cent this year, outperforming the broader market index. The main bank stock index surged nearly 65 per cent last year and is up just over 3 per cent this year.
    ($1 = Rs 62.0658)© Thomson Reuters 2015".

    Sentiment: Strong Buy

  • The Oscillators: {PercentR(10), FastD(3), FastK(3), SlowD(3, 5), SlowK(3, 5)} = {4.415325452, 13.05490947, 8.035251426, 20.7615063, 14.04811245}.
    are all below ~20 which indicates a deeply oversold level (when compared to an overbought level of 80). Expect a pullback upwards of ~300 pts in 5 days or so.

    Sentiment: Strong Buy

  • From yesterday's Business Standard:"Flexibility in loan recast to boost M&As of stressed assets". "Giving a big boost to acquiring stressed assets, Reserve Bank of India (RBI) on Tuesday further eased the rules for loan restructuring to bring in new promoters for stalled projects. In its monetary policy review on Tuesday, RBI said lenders will have more flexibility to extend the date of commencement of commercial operation (DCCO) to facilitate a change in ownership and revival for stalled projects.
    This could be done without changing the asset classification for loans to projects. If the advance is standard, it would be treated in the same way even after recasts that brings a new promoter on board.RBI is also in talks to hammer out a deal with the market regulator to beef up the equity banks can hold if they swap bad debts for shares. Currently, banks cannot be left with a holding of more than 10 per cent after a debt-for-equity swap. That is set to increase to 30 per cent.
    State Bank of India Chairman Arundhati Bhattacharya said the easing of norms in treatment of loans for stalled projects when a new promoter is brought in would change the way stressed accounts are handled. The differential pricing formula for converting loans into equity under the debt recast package will strengthen lenders. Bankers and top corporate executives said RBI’s moves would help to hasten pace of resolving problem cases. The entire effort is to find early closure to problem cases than dragging them.
    R Shankar Raman, chief financial officer, Larsen & Toubro Ltd, said the steps announced reflect RBI’s resolve to tackle the problem of non-performing assets (NPAs) in important sectors like infrastructure. “Flexibility to reset the date of commencement for commercial operations and convert debt into equity at the intrinsic values are very pragmatic steps," he said."...

    Sentiment: Strong Buy

  • The NPA / NPL problems of Banks are now proactively resolved with yesterday's Policy: "RBI allows banks greater flexibility in fighting NPA menace The credit policy today announced some revolutionary steps to give bankers power over their defaulting borrowers. Loans given to stressed companies won't be marked as NPLs and they will be allowed two years of delay in the commencement of their projects provided a new management replaces the non performing old one. The credit policy today announced some revolutionary steps to give bankers power over their defaulting borrowers. Loans given to stressed companies won't be marked as NPLs and they will be allowed two years of delay in the commencement of their projects provided a new management replaces the non performing old one. Reserve Bank of India (RBI) is also looking to waive pricing restrictions when banks convert loans given to stressed companies into equity, reports CNBC-TV18's Manasvi Ghelani.Raghuram Rajan, Governor, RBI, said, "Incase a distinctly new promoter got in, then banks could get some more time to complete the stuck projects with the new promoter."That's a big breather coming in for the banks. The birthday boy may not have treated banks with a cut in key policy rates today but governor Rajan has got a thumbs up from bankers for allowing them to tackle loans that are at the brink of turning bad more flexibly.The RBI basically said that if the date of commencement of a stalled project is pushed back by two years because it is being taken over by a new promoter, then banks won't have to mark the loan as substandard. Under current rules a project that doesn't start on time has to be marked down as bad loan. Bankers say the change in rules is exactly what they have been asking.Arundhati Bhattacharya Chairman, SBI , said, "It is a very big enabler. Banks have also been asking the RBI to give this dispensation mainly because when a good promoter is coming forward to take over a stressed asset that.."

    Sentiment: Strong Buy

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