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Andhra Bank
What IMF chief has to say on US Banks...
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Leave it.Tracked by: 0 Boarder
Here in India bank strikes are over. Let us have look for what happens in big banks in the west. A view of IMF chief is given in Bus.Std. Here it is for the information of employees and public.:
"Wednesday, August 20, 2008
'Large US banks may fail amid recession'
“The worst is yet to come in the US,” says IMF's former chief economist. The US housing slump has triggered more than $500 billion of credit market losses for banks globally
Singapore: Credit market turmoil has driven the US into a recession and may topple some of the nation’s biggest banks, said Kenneth Rogoff, former chief economist at the International Monetary Fund.
“The worst is yet to come in the US,” Rogoff said in an interview in Singapore today. “The financial sector needs to shrink; I don't think simply having a couple of medium-sized banks and a couple of small banks going under is going to do the job.”
The worst is yet to come is the caution as the world banking industry is interdependent.
v.krishnamoorthy...
Free Intraday Tips for Trading
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To prathikshah83
GLOBAL MARKETS WEEKAHEAD - Worry spreads to emerging markets--Reuters
The two day intermittant strike by bank employees on 18th and 20th will add to the misery of the traders.The NIFTY index will be certainly coming down the line to 3800 and no investor can have worth while trading .
Those who have DP and Trading account with banks may be hard hit, even if the market remain open. Now we can not put the blame on crude oil or FIIs and we have to carry the cross ourselves.
So it would be advisable to to avoid taking any cue from any one and follow your own pattern of trading for a week atleast.
V.Krishnamoorthy...
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Free Intraday Tips for Trading
Posted by :
pratikshah83
guys check this blog it give really very good intraday tip, on short and long side. and most important its free
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Can we expect, bullish trend of BANKEX ?
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Add.....
Some may hope the share to touch Rs.80 to Rs.100. If he wins,we shall sell. If that is possible for his reasons, I am sure I have my valid reasons for my target of Rs.50 to Rs.45 for buying. For the next six months only speculators will play a role. Only exchange of views for or against can come for this forum.
v.krishnamoorthy
P.S.
As my continuous posting repeated ly not allowed as it contained a word '.n'I posted this mail in three parts....
In reply to:
Can we expect, bullish trend of BANKEX ?
Posted by : Leave it.
add......
Like this you can have your own reasoning and target to buy and to get-out. You are not going to lose anything if you can wait for the wind to blow for your favour. See even the major IPOs have lost the date of opening. I refer to Relinfra. The market conditions are not healthy. There is no reasons for selling with panic.
v.krishnamoorthy
Can we expect, bullish trend of BANKEX ?
Posted by : Leave it.Tracked by: 0 Boarder
add......
Like this you can have your own reasoning and target to buy and to get-out. You are not going to lose anything if you can wait for the wind to blow for your favour. See even the major IPOs have lost the date of opening. I refer to Relinfra. The market conditions are not healthy. There is no reasons for selling with panic.
v.krishnamoorthy...
In reply to:
Can we expect, bullish trend of BANKEX ?
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To dabbeeru
Andhrs Bank has lost the ground at CMP.It is good buy to go for buying Andhra Bank at the rate or below Rs.50.00.You can accumulate lots of 25 shares at a fall of 5% from the current rate. There is nothing for 9 more months, for any positive news. Negative news are,oil pirce, inflation, bank strike, SBI act amendment, Elections are all there to pull down the index.If you give a discount of 5% for all these five factors, it should shed, say,Rs.15 rupees. So I am a buyer personally from Rs.50 onwards. ie.50 shares for every Rs.3.00 fall. This rate is better to IOB and Indian bank. The price will also give a better yield of 4%(taxfree) than the SB.rate of interest of 3.50 (taxable). So I prefer Andhra Bank, Vijaya bank.
v.krishnamoorthy
Can we expect, bullish trend of BANKEX ?
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To dabbeeru
Andhrs Bank has lost the ground at CMP.It is good buy to go for buying Andhra Bank at the rate or below Rs.50.00.You can accumulate lots of 25 shares at a fall of 5% from the current rate. There is nothing for 9 more months, for any positive news. Negative news are,oil pirce, inflation, bank strike, SBI act amendment, Elections are all there to pull down the index.If you give a discount of 5% for all these five factors, it should shed, say,Rs.15 rupees. So I am a buyer personally from Rs.50 onwards. ie.50 shares for every Rs.3.00 fall. This rate is better to IOB and Indian bank. The price will also give a better yield of 4%(taxfree) than the SB.rate of interest of 3.50 (taxable). So I prefer Andhra Bank, Vijaya bank.
v.krishnamoorthy...
In reply to:
Can we expect, bullish trend of BANKEX ?
Posted by : dabbeeru
Now b\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\'coz the inflation at its peak, expected to come down in couple of months. Should this be an oppurtunity to purchase bank scrips ?
Can we expect, bullish trend of BANKEX ?
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pl. also note that all Banks have been informed by the Indian Banks' Association (IBA) that the All India Bank Employees' Association (AIBEA) have served a Notice of Strike on August 20, 2008 throughout the country in support of some of their demands. A section of Bank's employees may take part in the proposed strike on the said day, if the strike materialises. In view of this, it is likely that the normal functioning of the Bank's Branches and services may get affected.
Their demands are not known. Perhaps they know what is in store for their strike call and Banking industry in the proposed bill.
v.Krishnamoorthy. ...
In reply to:
Can we expect, bullish trend of BANKEX ?
Posted by : Leave it.
To dabbeeru
For the next few weeks I do not expect any significant change. Perhaps when the banking amendment act bill is introduced, there will be more violent activity in the PSU bank scrips.
However,those who are keen to average their prices, can buy small lots of 10 to 25 shares at every fall,for there will be no particular news about this scrip.
v.krishnamoorthy
Can we expect, bullish trend of BANKEX ?
Posted by : Leave it.Tracked by: 0 Boarder
To dabbeeru
For the next few weeks I do not expect any significant change. Perhaps when the banking amendment act bill is introduced, there will be more violent activity in the PSU bank scrips.
However,those who are keen to average their prices, can buy small lots of 10 to 25 shares at every fall,for there will be no particular news about this scrip.
v.krishnamoorthy...
In reply to:
Can we expect, bullish trend of BANKEX ?
Posted by : dabbeeru
Now b\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\'coz the inflation at its peak, expected to come down in couple of months. Should this be an oppurtunity to purchase bank scrips ?
Can we expect, bullish trend of BANKEX ?
Posted by : dabbeeruTracked by: 0 Boarder
Now b\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\'coz the inflation at its peak, expected to come down in couple of months. Should this be an oppurtunity to purchase bank scrips ?...
Possible uptrend for this scrip today?
Posted by : Leave it.Tracked by: 0 Boarder
Dear Sir,
As the U S markets have sent strong positive signals,during the last week end, traders, should be prepared for a huge rise in opening of the Indian market today morning. People used to go on short should be careful. I expect a good jump inthe indices. Let us hope for the best and pray for a profitable trade for all.
V.Krishnamoorthy
...
movement i PSU shares--CMPs
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It is a pleasure to see some movement and interest of our investors in the scrip like Andra bank. If a 15 to 20 percent rise is seen it advisable to book the profit for 50 % of the holding, as anything can take place when the contemplated banking bill is introduced. I just share my point of view and it is for the holders to take their own decisions.
v.krishnamoorthy...
NSE Announcements on Andhra Bank
Posted by : MMB MessengerTracked by: 0 Boarder
Andhra Bank has informed the Exchange that :"The Government of India, Ministry of Finance, Department of Financial Services, New Delhi, vide Gazette Notification F.No.9/1/2008-BO.1 dated 2nd August, 2008, in exercise of the powers conferred by clause (a) of sub-section (3) of Section 9 of the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970/1980, read with sub-clause (1) of clause 3, and sub clause (1) of Clause 8 of the Nationalised Banks (Management and Miscellaneous Provisions) Scheme, 1970/1980, in consultation with Reserve Bank of India has appointed Shri R S Reddy, Executive Director of Union Bank of India as Chairman and Managing Director of Andhra Bank, from the date of his taking charge of the post and upto 31st August 2010, i.e. date of his attaining the age of superannuation or until further orders, whichever is earlier. We further inform that Shri R S Reddy, has assumed charge as Chairman & Managing Director, Andhra Bank on 02.08.2008."...
NSE Announcements on Andhra Bank
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Andhra Bank has informed the Exchange that "Dr. K. Ramakrishnan, Chairman & Managing Director of the Bank, demitted the office on 31st July, 2008, on superannuation"....
BSE Announcements on Andhra Bank
Posted by : MMB MessengerTracked by: 0 Boarder
Andhra Bank has informed BSE that the Government of India, Ministry of Finance, Department of Financial Services, New Delhi, vide Gazette Notification dated August 02, 2008, in exercise of the powers conferred by clause (a) of sub-section (3) of Section 9 of the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970/1980, read with sub-clause (1) of clause 3, and sub clause (1) of Clause 8 of the Nationalized Banks (Management and Miscellaneous Provisions) Scheme, 1970/1980, in consultation with Reserve Bank of India has appointed Shri. R S Reddy, Executive Director of Union Bank of India as Chairman and Managing Director of Andhra Bank, from the date of his taking charge of the post and upto August 31, 2010, i.e. date of his attaining the age of superannuation or until further orders, whichever is earlier.
Further the Bank has informed that, Shri. R S Reddy, has assumed charge as Chairman & Managing Director, of the Bank on August 02, 2008....
BSE Announcements on Andhra Bank
Posted by : MMB MessengerTracked by: 0 Boarder
Andhra Bank has informed BSE that Dr. K Ramakrishnan, Chairman & Managing Director of the Bank, demitted the Office on July 31, 2008, on superannuation....
wiil Andhra Bank raise lending rates?
Posted by : chief_kamaniTracked by: 0 Boarder
Leave it/v.krishnamoorthy-How does it matter to a 70 year old,retired Insurance Agent living in NJ???
...
In reply to:
wiil Andhra Bank raise lending rates?
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The PSU bank-- Punjab National Bank announced hiking their PLRs by one percentage point.
Private lender Axis Bank Wednesday raised its prime lending rate (PLR) by 50 basis points .
All these are after the Reserve Bank of India (RBI) outlined strict measures to fight inflation by tightening liquidity.
The new rates would be effective from July 30.
Will Andhra Bank follow suit?
v.krishnamoorthy
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