Five Indian banks among world's top 1000, State-owned State Bank of India holds the first position among the Indian banks and ranked 64th position and ICICI bank ranked 81st among global banks.

Bangalore: After a year of carnage in the global banking industry, five Indian banks figured in the list of the world's top 1,000 banks in 2009, compiled by trade magazine 'The Banker'. State-owned State Bank of India holds the first position among the Indian banks and ranked 64th position and ICICI bank ranked 81st among global banks.

The top five banks in the world are JP Morgan Chase followed by Bank of America, CITI Group, Royal Bank of Scotland and HSBC Holdings by capital strength. Among all these five banks, HSBC is the only bank that has not received any government support.

The other Indian banks in the global first 500 league are Punjab National bank, HDFC Bank and Bank of India at 239, 242 and 263, respectively.

The rankings are based on nine parameters-the strength of their Tier I capital, the size of their assets, their capital adequacy ratio, pre-tax profit, growth in profit and five performance indicators (profits on average capital, return on assets, cost income ratio, Basle capital ratio and percentage of non-performing loans).

'The Banker', a part of the Financial Times group has been carrying the rankings since 1970. According to publication, banks that stuck to the basics, taking deposits and lending in their home markets fared the best.

"In future banks will be run much more conservatively. Regulators will require them to hold more capitals and be less leveraged which will reduce the profits of the industry as a whole but will bring about a safer banking system," said Brian Caplen, Editor, The Banker.

Current account surplus for Q4 FY09, BoP deficit for financial year at USD 20 bn

n  A day after registering positive momentum, bond yields partially erased yesterday's gains as it closed in red for the day. 7.94% 2021, the most liquid bonds, traded in tight range of 4 bps before closing at 7.25% for the day. Though the NDS volumes are in 5-digit, participants are broadly awaiting the release of borrowing program in the union budget on July 6, before initiating any major directional position.

n  Post auction (June 26), 7.94% 2021 has gained popularity among traders as for duration risk similar to 10-year bonds (6.05% 2019) it yielding 24bps high (10-year is currently hovering at 7% mark). 7.94% 2021 managed to attract 38% of the total traded volumes on NDS-OM (INR 120.3 bn).

n  For the first time in 2-months, surplus funds parked with the central bank dipped below the INR 1 tn mark (INR 883 bn) on account of the quarter ending phenomena. Overnight money market also mirrored the trend as total volumes dwindled to INR 441 bn, pushing the average cost northward, to 3.12%.

n  After posting the seventh consecutive quarter of deficit, in the final quarter of FY09 current account posted a positive number of USD 4.75 bn; this is primarily attributed to shrinking oil imports on account of steep drop in crude price in Q4FY09. The number, however, failed to significantly impact the FY09 Balance of Payment (BoP) which posted a deficit of USD 20 bn.

n  Unlike its counterpart (sovereign debt), the non-SLR segment had a busy day; yield across the curve witnessed softening and bidding interest was primarily concentrated in short maturing paper. With 1-year CD plunging to 5.20%, bidding interest shifted in comparatively higher yielding 1.5–3 year maturing paper.

 

[Investors Please Listen] Pan-India jobs survey - buoyant jobs market to support demand for real estate

       Key takeaways from our pan-India jobs survey: Outlook for short term (three months) remains stable; shift of outlook from stable to positive for 1 year

       28% job consultants turned on positive outlook for the short term; significantly up from nil earlier

       Besides IT, all sectors expect an improvement in hiring. This is expected to support demand for residential real estate 

       A stabilizing job market in the near term and a robust outlook beyond that, are expected to keep real estate market buoyant

       Overall observations

—  69% respondents believe the number of unemployed has increased over the past 1 year

—  57% respondents believe the number of unemployed has been stable over the past 3 months

—  72% respondents believe the pace of recruitment has decreased in the past 1 year

—  There are mixed views over recruitment over the past 3 months

—  71% respondents expect hiring to stabilize over the next 3 months

—  53% respondents expect the situation to improve over the next 1 year

 

Edelweiss Asset Management Limited

.

 

 

 

--~--~---------~--~----~------------~-------~--~----~
Safe Harbor:
The information contained and provided on this Website provides Investment advice for the education of investors. The posts are an information service only. Recommendations, opinions or suggestions are given with the understanding that readers acting on this information assume all risks involved. We do not assume any responsibility or liability resulting from the use of such information, judgment and opinions for Trading or Investment purposes.

You received this message because you are subscribed to the Google Groups "Investors Please Listen !" group.
To post to this group, send email to investorspleaselisten@googlegroups.com
To unsubscribe from this group, send email to
investorspleaselisten+unsubscribe@googlegroups.com For more options, visit this group at http://groups.google.com/group/investorspleaselisten?hl=en
-~----------~----~----~----~------~----~------~--~---

[Investors Please Listen] Current account turns surplus for Q4FY09 at USD4.7bn

India's current account turned surplus at USD4.7bn for Q4FY09 higher than our expectation of USD2bn. Although optically numbers were better than expected, we believe that the numbers were weak as they were driven by differential between the trade deficit numbers reported by DGCI&S and RBI. The weakness could be seen in invisibles where services grew by just 2% and private remittances declined by sharp 28%.

--~--~---------~--~----~------------~-------~--~----~
Safe Harbor:
The information contained and provided on this Website provides Investment advice for the education of investors. The posts are an information service only. Recommendations, opinions or suggestions are given with the understanding that readers acting on this information assume all risks involved. We do not assume any responsibility or liability resulting from the use of such information, judgment and opinions for Trading or Investment purposes.

You received this message because you are subscribed to the Google Groups "Investors Please Listen !" group.
To post to this group, send email to investorspleaselisten@googlegroups.com
To unsubscribe from this group, send email to
investorspleaselisten+unsubscribe@googlegroups.com For more options, visit this group at http://groups.google.com/group/investorspleaselisten?hl=en
-~----------~----~----~----~------~----~------~--~---

Lupin Pharma Ltd Companyn Update ; Building branded portfolio in the US ; BUY ; Target : Rs980

Lupin acquired the worldwide marketing rights for the intra-nasal steroid (INS), AllerNase Nasal Spray (triamcinolone acetonide) from Collegium Pharmaceutical, Inc. Lupin expects to launch this molecule in the US by Q3FY10E and later on, in the other parts of the world. While we have not built in any upside in our numbers and will wait for more clarity from the management, we are very positive on the development. We believe that this tie-up will enable Lupin to further strengthen their franchise in the branded generic segment. This will also put to rest the concerns of Suprax going generic and sustainability of its pediatric franchise. Moreover, it indicates that the company is committed towards building a front end in the US market.

With more visibility on its US business, we upgrade our rating on the stock from Accumulate to Buy with a target price of Rs980. (13x rolling one year forward EPS of Rs75.4). We have assigned a 20% discount to Lupin from comparable peers to arrive at our target price because of the ongoing FDA issue at Mandideep (contributes 8% to revenues and 12% to profits). While we remain confident of Lupin's ability to stride through the US FDA issue, the warning letter could weigh negatively on the stock valuations until the issue is resolved. Negative outcome of ongoing FDA issue remains a key risk to our call.