| 1 | NICKEL 1ST TARGET ACHIEVED | 03/09/2015 | 13:24:03 |
Nse trader, mcx traders, ncdex traader ,stock futer trader ,options trading
Thursday, 3 September 2015
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Federal Bank's bottom line was impacted largely by two events i) One big corporate account slipped (Rs. 134Cr) and ii) Treasury provision Rs. 49Cr. The Bank reported PAT of Rs. 141Cr vs Rs. 220Cr same time last year. It reported a NII growth of 7.2% YoY which stood at Rs. 605Cr vs Rs. 564Cr in Q1 FY15 where as profit prior to provisioning was up 4.5% YoY at Rs. 367Cr. Provisions for the quarter were higher at Rs. 153Cr vs Rs. 40Cr QoQ and Rs. 22Cr YoY. The bank's SME and retail book will continue to drive the growth; further aided by corporate book. We believe Federal Bank is best placed to improve its return ratios with margin improvement, CASA traction and growth in core fee income as the levers going forward. At CMP, the stock is trading at 1.22x and 1.11x FY16E and FY17E P/Adj BVPS and 10.19x and 9.23x FY16E and FY17E P/E respectively. We upgrade the stock to BUY with a target price of Rs. 75 (1.4x FY17E ABV); an upside of 26% from current levels.
HCL Tech wins digital deal with Manchester United;Shares gain
By Shweta Shenoi
MUMBAI, SEP 3 (TickerNews Service): HCL Technologies Ltd, India's third biggest software maker, rose Thursday after it said it has won a contract with Manchester United, the third richest football club in the world.
Under this deal, HCL and Manchester United will work together to explore and unveil a number of digital initiatives to transform the experience of the club's 659 million global followers, the company said in a statement to the stock exchanges today.
"This partnership is unique and creates value not just for Manchester United and its fans, but also for all forward-looking organisations across the world," Anant Gupta, President & CEO, HCL Technologies said in the statement.
Within the lab, HCL and Manchester United will explore revolutionary ways in which the club uses technology to create a unified fan experience for supporters, and in the process set a new engagement benchmark in the world of sport.
At 10:55AM, shares of HCL Technologies rose 0.7% to Rs 956 on the Mumbai stock exchange.
Kanpur Pulses Opened Higher in Physical Market
At Kanpur market , Chana Desi started the day strong at Rs. 5225 per quintal, higher by 0.48 per cent from previous dayn#39;s price level. Chana Dal Local started at Rs. 5750 per quintal, unchanged against previous close. Masur Kanpur at Kanpur market started weak at Rs. 7225 per quintal, lower by 0.34 per cent as against previous day. Masur Bareily at Kanpur market began weak at Rs. 7400 per quintal, lower by 0.67 per cent against previous day. Malkadal Dal at Kanpur market began weak at Rs. 8425 per quintal, lower by 0.3 per cent as against previous day. Pulses in Kanpur Market (Prices in Rs. per quintal) Market Commodity/Variety Price Change Absolute Kanpur Chana Desi 5225 +25 Kanpur Chana Dal Local 5750 0 Kanpur Masur Kanpur 7225 -25 Kanpur Masur Bareily 7400 -50 Kanpur Malkadal Dal 8425 -25 nnbsp;
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