We take Punjab National Bank (PNB) out from Under Review and assign an Accumulate rating since (1) growth remains an issue for the bank even though (2) asset quality issues are largely behind the bank.
The stock has been fuelled by outstanding Q1 numbers. Microfinance in today's world has great potential and is possibly one of the next great innovation hub. Ujjivan could turn out to be a POWER ELITE Stock during the course of time.
Our provision coverage ratio is already 64-65%. So, most of the things have already been taken care of, Ramesh Singh, ED, Dena Bank, tells ET Now, while discussing the mega merger between Bank of Baroda, Vijaya Bank and Dena Bank.
Another major step as part of ongoing banking reforms; to pave way for further consolidation! In yet another unexpected move, the Indian government announced the amalgamation of three public sector lenders – Bank of Baroda, Dena Bank and Vijaya Bank.
With the Indian economy gaining momentum, the management expects the consumer durable industry to sustain its healthy growth rate. The size of the industry is likely to double in the next five years from the current level of Rs400bn (share of urban market is 65%).
This is neither an offer nor a solicitation to purchase or sell securities. The information and views contained on this site are believed to be reliable, but no responsibility (or liability) is accepted for errors of fact or opinion. Writers and contributors may be trading in, or have positions in the securities mentioned in their articles. Neither IndiaNotes nor any of the contributors accepts any liability arising out of use of the above information/article. Reproduction in whole or in part without written permission is prohibited.