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BSE Announcements on Oriental Bank
Posted by :
MMB MessengerOriental Bank of Commerce (OBC) has informed BSE that the auditors have conducted the limited review of the unaudited financial results for the quarter ended September 30, 2009....
Buy OBC
Posted by : rajkishore420
When you have bought Madhucon at 119 and now it is quoting 139 you are at profit. Still I am betting on Madhucon. I hope it will easily touch 160-170 shortly. But you should book profit at the level unless you have the capacity to take further risk.
In the real estate space, due to poor results and consequent market correction, most of the stocks have shed 20 percent to their recent high. This is a short term phenomena. With 3-6 months period, this price will hardly be found. So it is better to stay invested and buy at low. One thing I suppose to mention is that Parsvnath looks extremely postitive to me in the short span. I have kept a target of 160 by the end of this year. You see what happened in Orbit.
Same is with Godavari. You should have taken at least some at 128-130 level. We have to wait. Regarding NMDC it is rising on account of divestment news. I do not play on this and as such has no comments to offer....
BSE Announcements on Oriental Bank
Posted by : MMB MessengerOriental Bank of Commerce (OBC) has informed BSE that there has been a change in Statutory Central Auditors of the Bank for 2009-2010 audit and three auditors namely M/s. S P Marwaha & Co., M/s. Manian & Rao and M/s. Tej Raj & Pal have replaced M/s. Umamaheswara Rao & Co, Hingorani M & Co. and M/s. Suresh Chandra & Associates. ...
Buy OBC
Posted by :
ambarish
Hi Raj,
Can you throw some light on Omaxe, Godavari Power and Madhucon? I`m stuck in Omaxe at 126, Godavari Power at 171 and Madhucon at 119. Also how about Bajaj Hind.,Essar Oil and NMDC? In CNBC Awaaz tonite, Sudarshan Sukhani gave a target of 1000, yes 1000, of NMDC in short term -say 3 months.
Waiting for your inputs.
Thanx...
Ambarish....
Buy OBC
Posted by : rajkishore420Short term target 275....
NSE Announcements on Oriental Bank
Posted by : MMB MessengerOriental Bank of Commerce has informed the Exchange that the auditors have conducted the limited review for the un-audited financial results for the quarter and half year ended September 30, 2009. A copy of the same shall be available on the NSE website (http://www.nseindia.com) under: Corporates > Latest Announcements and on the Extranet Server (/Common/Corporate Announcements). ...
OBC continues to fly high
Posted by : hardip singh
The gradual improvement in the quality of loans over the last 5 years has brought down the Net NPAs to 0.66% (0.86%). Despite the payment of its highest dividend of Rs.7.30, its EPS continues to rise to Rs.10.81 (Rs.9.46) and the current annualised EPS works out to Rs.38.96. the Price to Book Value of 0.96 and PE of 6.31 against the Banking sector PE of 9.39 makes it a better PSB.
It has shown a significant improvement in the Retail Banking segment with a revenue of 782.08 crore (66.07 crore) and 1509.10 crore (1334.75 crore) for Q2FY10 and 1st half year ended 30th September, 2009 respectively. Undoubtedly, net profit of 41.17 crore (10.73 crore) on Retail Banking makes just a small proportion to its overall net profit of 270.80 crore (236.89 crore) for the Q2FY10. What is significant is the margins of net profit on the Retail Banking, which was a major casuality during FY09. Total income of 2800.90 crore (2361 crore) and 5597 crore (4520.21 crore) for the Q@FY10 and HYE 30th September, 2009 respectively, as against the full year income of 9927.79 crore of FY09 provides the trends of gradual expansion of its business.
The overall net profit of 528.21 crore (457.41 crore) for the HYE 30th September, 2009 as against the full year net profit of 905.42 crore for FY09 is a good indicator of the expected rise during the next 2 quarters.
Its healthy reserves of 6201.81 crore have been further supplemented by the net profit of 528.21 crore for HYE 30Tth September, 2009. Its healthy `Return on Assets` and `Return on Net Worth` with a Book Value of Rs.257.54, makes it a good BUY....
OBC would be investors choice hereinafter
Posted by :
harshad mehtaOrient Bank made all time high of 381 during 2003-04. Now will make big all time new high in coming peridos .Good buy for investment at every correction target 500...
NSE Announcements on Oriental Bank
Posted by : MMB MessengerOriental Bank of Commerce has informed the Exchange regarding the standalone Results for the quarter ended on 30-SEP-2009 as follows: Interest earned of Rs. 249583 lacs for the quarter ending on 30-SEP-2009 against Rs. 215183 lacs for the quarter ending on 30-SEP-2008. Interest expended of Rs. 193479 lacs for the quarter ending on 30-SEP-2009 against Rs. 163018 lacs for the quarter ending on 30-SEP-2008. Net Profit / (Loss) of Rs. 27080 lacs for the quarter ending on 30-SEP-2009 against Rs. 23689 lacs for the quarter ending on 30-SEP-2008....
NSE Announcements on Oriental Bank
Posted by : MMB MessengerOriental Bank of Commerce has informed the Exchange regarding the standalone Results for the half year ended on 30-SEP-2009 as follows: Interest earned of Rs. 490004 lacs for the half year ending on 30-SEP-2009 against Rs. 410555 lacs for the half year ending on 30-SEP-2008. Interest expended of Rs. 385484 lacs for the half year ending on 30-SEP-2009 against Rs. 313719 lacs for the half year ending on 30-SEP-2008. Net Profit / (Loss) of Rs. 52821 lacs for the half year ending on 30-SEP-2009 against Rs. 45741 lacs for the half year ending on 30-SEP-2008....
BSE Announcements on Oriental Bank
Posted by : MMB Messenger
Oriental Bank of Commerce (OBC) has announced the following Unaudited results for the quarter ended September 30, 2009:
The Bank has posted a net profit of Rs 2708.00 million for the quarter ended September 30, 2009 as compared to Rs 2368.90 million for the quarter ended September 30, 2008. Total Income has increased from Rs 23610.00 million for the quarter ended September 30, 2008 to Rs 28009.00 million for the quarter ended September 30, 2009. ...
OBC Q2 Numbers Out
Posted by : pms.swastika
OBC Q2 Numbers Out:
Net Profit at Rs. 271.00 Cr Vs Rs. 237.00 Cr (+14.35%) (YoY)
NII at Rs. 561.00 Cr Vs Rs. 519.00 Cr (+8.09%) (YoY)
Regards
Swastika PMS...
OBC would be investors choice hereinafter
Posted by :
MahipalThanks for the information......
OBC would be investors choice hereinafter
Posted by : hardip singh
This scrip has completely overcome the GTB merger adverse impact and is continuing its upward journey. Its NPAs were the biggest casuality, for which it had to make quite high provisioning impacting its financials for 4 years in a row upto FY08. However, now it is altogether a different story, as OBC had merely 0.65% NPAs of net advances in FY09.
The comparison of the last 5 financial years reflects FY09 credited with the highest indicators Viz. CAR 12.98% (current CAR 12.93%), closing cash & cash equivalents of Rs.12225.14 crore, Total income on capital employed of 9.58%, credit deposit ratio of 69.83% and dividend payout ratio of 23.63%.
Its Book Value of Rs.257.74 and EPS of Rs.37.61 brings its P/BV to 1.05, despite 13% rise in its scrip value against the 4% gain made by Nifty during the week ended 16th October, 2009. The Price to Book Value of the major performing PSBs like SBI, PNB, BOI is more than 2 as compared to 1.05 in respect of OBC. Its PE of 7.19 is better than the Banking sector PE of 9.97 and further improvement can be expected.
The results being declared on 26th October, 2009 for Q2FY10 are expected to be much better than Q1FY10, in view of the gradual improvement in our domestic economy. The increase in industrial production and arrest of fall in the residential property market are increasing its lendings, rather than depending merely on the treasury income, as experienced during FY09. A net profit of Rs.257.41 crore for Q1FY10 has already been added to its reserves of 6201.81 crore for FY09. Net profit for Q2FY10 would further add to this kitty and investors may be awarded with handsome dividend during FY10 again.
Investors would do well to HOLD this scrip for longterm and ACCUMULATE on each decline. It should be touching its past glory of pre-GTB merger soon....
can i hold or exit...??
Posted by : Mahipalthank u...
