City-based United Bank of India (UBI) expects credit growth of 20 percent and deposits growth not crossing 22 percent during 2010-11, a senior official said here Saturday.
UBI would keep its advances growth under control till September by staying away from low-yielding loans.
“We are deliberately avoiding low-return loans but hope to seize the opportunity of attaining higher credit growth after September,” bank’s chairman and managing director Bhaskar Sen told reporters at a press meet.
The bank posted a net profit of Rs.107.86 crore for the first quarter (April-June) of the current fiscal (2010-11), up by 53.5 percent.
India’s largest car manufacturer Maruti Suzuki India Limited Saturday registered a 20.23 percent decline in its net profit in the first quarter to Rs.465.4 crore as compared to Rs.583.5 crore in 2009-10.
“The drop in net profit is due to higher commodity prices, increase in royalty and lower ‘other income’. In addition, income from exports to Europe fell due to weakening of the Euro,” the company said in a statement.
The auto giant’s net sales for the first quarter increased by 27 percent to Rs.8,050.7 crore as against Rs.6,340.2 crore in the corresponding period of the previous year.
A benchmark index for Indian equities slipped further amid heavy selling in the last session of trade to close 129 points lower.
Heavyweights State Bank of India and Maruti Suzuki dragged the index down.
The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 18,056.24 points, closed at 18,001.9 points, 129.07 points or 0.71 percent down from its previous close at 18,130.98 points.
At the National Stock Exchange (NSE), the broader 50-share S&P CNX Nifty ended at 5,413.7 points, down 0.65 percent from its previous close at 5,449.1 points.
Broader markets indices also closed in the red, with the BSE midcap index ending 1.04 percent lower and the BSE smallcap index 0.86 percent down.
Auto, realty and banking stocks saw bulk of the selling.
A benchmark index for Indian equities was trading lower Monday afternoon despite positive Asian markets.
The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 18,056.24 points, was ruling at 18,071.5 points, 59.48 points or 0.33 percent down from its previous close at 18,130.98 points.
At the National Stock Exchange(NSE), the broader 50-share S&P CNX Nifty was trading at 5,430.8 points, down 0.34 percent from its previous close at 5,449.1 points.
India’s largest airline group by domestic market share, Jet Airways, logged a net profit of Rs.3.52 crore in the first quarter of this fiscal due to higher seat sales and growth in passenger traffic as against a loss of Rs.22.53 crore in the like period of 2009-10.
The private-sector group, which operates premium international and domestic airline Jet Airways, low-fare domestic airline Jet Airways Konnect and budget carrier Jetlite, came out with the consolidated results for the first quarter Friday.
A benchmark index for Indian equities closed flat in lacklustre trade while the world eagerly waited for the results of the stress test of 91 European banks due later in the day.
The 30-scrip sensitive index (Sensex) of the Bombay stock Exchange (BSE), which opened at 18,132.29 points Friday, closed at 18,130.98 points, 17.83 points or 0.1 percent up from its previous close at 18,113.15 points.
The Sensex gained 0.98 percent during the week. It had closed last week at 17,955.82 points
The Indian economy is set to grow at 8.5 percent this fiscal and 9 percent the next year, even though the recovery globally after the financial crisis will be anaemic, the Prime Minister’s Economic Advisory Council said Thursday.
The council also predicted the annual inflation rate based on wholesale prices, which was estimated at 10.5 percent for June, to fall to around 7-8 percent by December and and further to 6.5 percent by March next year.
“We predict the agriculture sector to grow at 4.5 percent, industrial production at 9.7 percent and services by 8.9 percent this fiscal, for an overall growth of 8.5 percent,” C. Rangarajan, chairman of the council, said.
A benchmark index for Indian equities Friday closed 46 points up in volatile but range-bound trading, with IT firm TCS leading the gainers pack after it announced better than expected results.
The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 17,911.13 points, ended at 17,955.82 points, 46.36 points or 0.26 percent up from its previous close at 17,909.46 points.
The TCS scrip closed 6.16 percent higher at Rs.832.40 following the company’s announcement Thursday that net profit had increased 24 percent to Rs.1,906 crore for the quarter ended June 30.
Sample of Our Call
Sample of Call :
" NSE FUT:
Intraday BUY Reliance Fut at 700 Target 708/714 SL:697
SureStockTips "
Now Like to Explain :
Read above MSG 2 times, clearly mentioned that it is:
1) FUTURE call
2) Its INTRADAY
3) Script Name
4) CMP - Current Market Price
5) Mentioned Clearly Target
6) also Mentioned StopLoss
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Total Transparency in MSG.
Profit Book MSG :
" RELIANCE FUT:
First Target Achieved at 708 in Buy call given at 700.
SureStockTips "
ABOUT :
Hello Visitor / Reader, I welcome you to my personal blog “SureStockTips.blogspot.in.
I am individual advisor from Gandhinagar City, Gujarat. Here I am providing Pure Intraday base or STBT – BTST calls for “A” Group Shares & Index only. I am providing calls on purely Technical Base, for trading purpose only.
No Speculative, No News Base, No Operator Base & even NO FUNDAMENTAL RESEARCH BASE calls, providing here.
Basically Fundamental Research works for Medium Term, Short Term OR Long Term Investment, because for that time period of investment INVESTOR or ADVISOR must have to study particular company’s many Financial prospectus like EPS, Book Value, Profit & Loss, Share Holding Pattern, Assets, Liabilities, Dividend, Business Forecast and many more aspects are to be evaluated when someone is going to invest in particular shares.
But here, as mentioned above, that I am providing purely Intraday Base or STBT-BTST calls, and not for investment but for trading purpose only, hence, NO FUNDAMENTAL RESEARCH NEED or WORKS HERE.
Only Technical Levels relating to market behavior as well as Some Methods work for INTRADAY TRADING for the day trading time of approx. 6 hours (9.15 am to 3.30 pm).
IMPORTANT:
(1) NO INVESTMENT CALLS PROVIDING HERE…
(2) Read Disclaimer as given on bottom of this page before ENTERING ANY TRADE.
DISCLAIMER :
The calls made herein are for just informational purpose and are not recommendations to any person to buy or sell any securities. The views given here is my PERSONAL VIEWS, trading in Stock Market is High Risk activity. The information provided here is based on my knowledge or technical and not recommendations / force to any person to make Buy or Sell Position in any securities.
Author will not be liable for any of your Loss. Members are advised to exercise the tips at their own risk before trade in it.
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Various factors, including personal or corporate Ownership, Change in Government Policies, Declaration of New Steps, Changing Global Scenario, World Stock Markets, Great Events that effect on Domestic Economies, any declaration by RBI etc. may influence or factor into an expert’s stock analysis or opinion.
Author advised to all Persons to apply their own knowledge, Exercise & Mind before take any position, Buy or Sell.
