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Short Term Buy Call For Indian Bank

Short Term Buy Call For Indian BankStock market analyst Anu Jain has maintained 'buy' rating on Indian Bank stock to achieve target of Rs 255 in 1-2 trading sessions.

According to analyst, the investors can buy the stock with stop loss of Rs 234.50.

Today, the stock of the bank opened at Rs 240 on the Bombay Stock Exchange (BSE). Current EPS & P/E ratio stood at 36.18 and 6.62 respectively.

The share price has seen a 52-week high of Rs 239.40 and a low of Rs 120.45 on BSE.


Banks gain profits as the European shares rise initially

Banks gain profits as the European shares rise initiallyThere has been a marginal hike in share prices and they have risen early on today’s trading after a horrible last week. But doubts on the rate of international economy revival following current grim economic data are expected to hit this hike. According to market experts it may limit gains.

The FTS Eurofirst 300 index of top European shares was up by 0.5% at 974.44 points in their last trading. It was 0.1% higher than that of the earlier session and weekly performance since 21st of May.


Karnataka Bank Short Term Buy Call

Karnataka Bank Short Term Buy CallStock market analyst Nitin Murarka of SMC Global has maintained 'buy' rating on Karnataka Bank Ltd stock to achieve a short-term target of Rs 190.

According to analyst, the investors can buy the stock stop loss of Rs 174.

Today, the stock of the bank opened at Rs 175.90 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 188.85 and a low of Rs 111 on BSE. Current EPS & P/E ratio stood at 12.54 and 14.35 respectively.

Karnataka Bank has fixed its eyes on the agricultural segment.


Sell ICICI Bank With Target Of Rs 825

Sell ICICI Bank With Target Of Rs 825Stock market analyst Salil Sharma has maintained 'sell' rating on ICICI Bank stock with target of Rs 825.

According to analyst, the investors can sell the stock with stop loss of Rs 849.

Today, the stock opened at Rs 842 on the Bombay Stock Exchange(BSE). Current EPS & P/E ratio stood at 36.10 and 23.49 respectively.

The share price has seen a 52-week high of Rs 1009.50 and a low of Rs 621.90 on BSE.

ICICI Bank on July 05 announced that its private equity division will establish an infrastructure fund.


Buy Federal Bank With Target Of Rs 350

Buy Federal Bank With Target Of Rs 350Stock market analyst Shardul Kulkarni of Angel Broking is of the view that investors can buy Federal Bank Ltd with target of Rs 350.

According to analyst, the interested investors can buy the stock on dips.

Today, the shares of the company opened at Rs 331.50 on the Bombay Stock Exchange (BSE). The share price has seen a 52-week high of Rs 354.80 and a low of Rs 215.55 on BSE.

Current EPS & P/E ratio stood at 27.17 and 12.16 respectively.

Federal Bank, on June 30, fixed its base rate at 7.75% w. e. f July 01, 2010.


RBI Hikes Key Interest Rates

RBI Hikes Key Interest RatesIndia's central banking institution increased key interest rates by 25 basis points with immediate effect in order to curb increasing inflation, which could make housing and auto loans pricier.

The Reserve Bank of India (RBI) increased the repo rate by 25 basis points to 5.5% and the reverse repo rate by a similar quantum to 4%, as part of its "calibrated exit from the expansionary monetary policy", which was part of the stimulus package by the government at the height of the global financial crisis.


Decision On Merging State Bank of Indore With SBI Expected This Month

Decision On Merging State Bank of Indore With SBI Expected This MonthAccording to SBI chairman Om Prakash Bhatt, the administration's decision on merging State Bank of Indore withState Bank of India (SBI) is projected this month.

SBI chairman Om Prakash Bhatt stated, "We expect to hear from the government on merging State Bank of Indore this month. After that, it would take a month to complete the merger process."

Mr. Bhatt was in Chennai to kick off the Green Channel counter, which facilitates paperless banking.


Hold Kotak Mahindra Bank

Hold Kotak Mahindra BankStock market analyst Avinash Gorakshakar is of the view that investors can hold Kotak Mahindra Bank Ltd stock for 17-18% gains.

According to analyst, the investors can achieve the stock in a period of 12 months.

Today, the shares of the company opened at Rs 755 on the Bombay Stock Exchange (BSE).

Current EPS & P/E ratio stood at 37.55 and 20.48 respectively.

The share price has seen a 52-week high of Rs 878 and a low of Rs 550 on BSE.


Short Term Buy Call For Syndicate Bank

Short Term Buy Call For Syndicate BankStock market analyst Sudarshan Sukhani, has maintained 'buy' rating on Syndicate Bank Ltd stock with short-term target of Rs 105.

According to analyst, the investors can buy the stock with stop loss of Rs 88.

Today, the stock opened at Rs 92 on the Bombay Stock Exchange(BSE).

Current EPS & P/E ratio stood at 15.58 and 5.87 respectively.

The share price has seen a 52-week high of Rs 105.40 and a low of Rs 65.05 on BSE.


SBI Fixes Base Rate At 7.5%

SBI Fixes Base Rate At 7.5%India's biggest lender, State Bank of India (SBI) has announced that it has fixed its base rate for lending at 7.5% annually, which would kick in from July 1.

The base rate is the minimum interest a bank has to charge on its loans.

In February 2010, the central bank had dismantled a former system of determining interest rates -- benchmark prime lending rate -- which was discriminatory to smaller borrowers. According to the BPLR system of finding out lending rates, banking institutions could charge varying interest on different categories of borrowers.


Sell ICICI Bank With Target Of Rs 845

Sell ICICI Bank With Target Of Rs 845Stock market analyst Salil Sharma has maintained 'sell' rating on Larsen & Toubro Ltd stock with target of Rs 845.

According to analyst, the investors can sell the stock with stop loss of Rs 880.

Today, the stock opened at Rs 863 on the Bombay Stock Exchange (BSE). The share price has seen a 52-week high of Rs 1009.50 and a low of Rs 621.90 on BSE.

Current EPS & P/E ratio stood at 36.10 and 23.78 respectively.


Buy Dena Bank For Target Of Rs 115

Buy Dena Bank For Target Of Rs 115Stock market analyst Shardul Kulkarni of Angel Broking is of the view that investors can buy Dena Bank stock with target of Rs 115 within 3-4 months.

According to analyst, the traders can buy the stock stop loss of Rs 92.50.

Mr. Kulkarni added that Dena Bank is a profitable option to reap good returns in the short term.

Today, the shares of the bank opened at Rs 93 on the Bombay Stock Exchange (BSE). Theshare price has seen a 52-week high of Rs 96.40 and a low of Rs 46 on BSE.

Current EPS & P/E ratio stood at 17.82 and 5.22 respectively.


$600M sales order nullified by US Export-Import Bank

$600M sales order nullified by US Export-Import BankAccording to the official reports, the U. S. Export-Import Bank has denied loan guarantees for a coal project in India, putting 1,000 U. S. jobs at risk.

The Milwaukee Journal Sentinel reported on Saturday that the bank's decision has effectively wiped out a $600 million sales order for coal-production equipment produced by Bucyrus International Inc. in 14 U. S. states, including Wisconsin, Illinois, Minnesota and Indiana.


Vijaya Bank Restructures Its JV Pact With PNB

Vijaya Bank Restructures Its JV Pact With PNBVijaya Bank, Punjab National Bank and Principal Financial Group, Mauritius, have restructured their JV Arrangements.

As per the release, a Memorandum of Understanding (MoU) was signed to this effect on June 23.

Under the MoU, PNB would get hold of complete equity stake of Principal and Berger Paints of 26% and 25% respectively in the Insurance Brokering Company and Principal's and UK Paints stake of 26% and 32% in Principal PNB Life Insurance Company.


PNB Plans To Open 200 Branches In FY10

B Plans To Open 200 Branches In FY10Chairman and Managing Director of Punjab National Bank K R Kamath announced that the banking institution was eyeing to clock a total business of Rs 5.5 lakh crore during the existing fiscal (2010-11).

In addition, Mr. Kamath said that the bank will open around 200 divisions in India during the current fiscal.

While addressing a press meet, Mr. Kamath stated that the bank's total business would be scaled up to Rs 5.5 lakh crore in the existing financial year as against Rs 4.35 lakh crore, which was registered during
2009-10.


The member of Bank of England votes for raise in interest rates

The member of Bank of England votes for raise in interest ratesA member of the Monetary Policy Committee (MPC) of Bank of England has called to increase the interest rates for the very first time in next two years. A member named Andrew Sentance has called for a rise in interest rates to 0.75% from 0.5% due to the stubborn inflation.

This was the first call for interest rise in UK by the MPC members since August 2008. The Bank of England has decided not to invest any more money into the economy of UK under its rule of quantitative easing, also called as QE.


Sell YES Bank With Target Of Rs 259

Sell YES Bank With Target Of Rs 259Stock market analyst Mitesh Thacker has maintained 'sell' rating on Yes Bank Ltd stock with target of Rs 259.

According to analyst, the investors can sell the stock with stop loss of Rs 276.50.

Today, the shares of the bank opened at Rs 271 on the Bombay Stock Exchange (BSE). The share price has seen a 52-week high of Rs 299.50 and a low of Rs 126.10 on BSE.

Current EPS & P/E ratio stood at 14.06 and 19.41 respectively.

Rabobank on June 22 sold 11% interest in the private sector banking institution YES Bank for around Rs 980 crore.


World Bank shows its’ commitment to India's development agenda by a $9.3 billion loan

World Bank shows its’ commitment to India's development agenda by a $9.3 billion loanAccording to the reports, the World Bank is committed to supporting India's development agenda as is evident from the record annual lending of 9.3 billion dollars for the current financial year.

The total expected lending this year includes 2.6 billion dollars as interest-free credits from the International Development Association (IDA) and 6.7 billion dollars in the form of long term, low interest loans from International Bank of Reconstruction and Development (IBRD), the World Bank website has revealed.


Buy Dena Bank For Target Of Rs 102

Buy Dena Bank For Target Of Rs 102Stock market analyst Rahul Mohinder is of the view that investors can buy Dena Bank stock with intra-day targets of Rs 97-102.

According to analyst, the traders can buy the stock stop loss of Rs 92.50.

The shares of the bank, on June 23, closed at Rs 94.10 on the Bombay Stock Exchange (BSE). The share price has seen a 52-week high of Rs 95.45 and a low of Rs 46 on BSE.

Current EPS & P/E ratio stood at 17.82 and 5.38 respectively.

The analyst said that Dena Bank is a profitable option.


Buy Dena Bank For Target Of Rs 88

Buy Dena Bank For Target Of Rs 88Stock market analyst Rahul Mohinder is of the view that investors can buy Dena Bank stock with stop loss of Rs 88.

According to analyst, the investors can buy the stock for 10-15% upside in two days.

Today, the shares of the company opened at Rs 92 on the Bombay Stock Exchange (BSE). The share price has seen a 52-week high of Rs 95.45 and a low of Rs 46 on BSE.

Current EPS & P/E ratio stood at 17.82 and 5.22 respectively.

Dena Bank has heightened its focus of on high margin products that comprise advance to SMEs.


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