We maintain our positive bias on the ICICI Bank

Below is the views from Saday Sinha, Banking Analyst, Kotak Securities on ICICI Bank results:
 
“ICICI Bank’s Q1FY14 numbers are largely in line with our expectations. Core performance was healthy (NII growth at 19.7% YoY) on back of NIM improvement (26bps YoY) along with healthy loan growth (12.3% YoY). At the same time, PAT came marginally higher than our e

Expert views - RBI holds rates to support rupee, outlook dovish

MUMBAI  - The RBI left interest rates unchanged on Tuesday as it supports a battered rupee but said it will roll back recent liquidity tightening measures when stability returns to the currency market, enabling it to resume supporting growth.

As expected, the Reserve Bank of India left its policy repo rate at 7.25 percent but took a dovish tone as it cu

Markets will now focus on the RBI policy

Below is the perspective on markets from Dipen Shah, Head of Private Client Group Research, Kotak Securities:
 
“Markets ended weak on Friday on subdued global cues and continuing concerns over interest rates and rupee. Below expectation results from a few companies also marred sentiments. For the week, Nifty ended the week down 2.3%. Mid cap stocks were at the rec

ITCs revenues came in below our expectations

Below is the views from Ritwik Rai, FMCG Analyst, Kotak Securities on ITC results:
 
“ITC’s revenues came in below our expectations, primarily on account of weaker sales growth in the cigarette and other FMCG segments. Cigarette volume likely de-grew more than 2% in the quarter, which led to a negative surprise. Net sales growth of cigarettes, at 7.1% (versus

Goldman sees gold above $1,400 this year; bearish on many --metals

NEW YORK  - Goldman Sachsis sticking to its average forecast of $1,413 for an ounce of gold this year as it does not see sharp reductions in U.S. Federal Reserve stimulus, after fears of such cuts drove bullion prices to near three-year lows recently.

In a note issued on Wednesday, Goldman said it also expected gold to average $1,165 an ounce in 2014 as

Markets Sold Off Sharply On The Back Of Fresh RBI Measures

Below is the perspective on markets from Sanjeev Zarbade, Vice President- Private Client Group Research, Kotak Securities:
 
“Markets sold off sharply on the back of fresh RBI measures. In the late evening yesterday, RBI announced fresh steps to suck liquidity in the banking system, with an objective to stabilise INR from further speculative selling pressure. RBI h

Consumers more confident globally, India slips to No. Three-- in survey

By Susan Fenton

LONDON - Global consumer confidence rose in the second quarter with more optimistic perceptions about jobs, personal finances and spending intentions in the United States, China and Japan, a survey shows.

Indonesia remained the most bullish consumer market, followed by the Philippines, which pushed India into third place, acc

Indian diaspora seen demanding big risk premium to support rupee

By Swati Pandey and Nishant Kumar

MUMBAI/HONG KONG  - India's multi-million-strong diaspora is patriotic up to a point. In fact their patriotism may amount to 5 or 6 percentage points of annual investment returns when it comes to providing the hard currency needed to revive the rupee.

After announcing short-term measures this month

L&T Numbers Disappointing, On A Long Term Basis, Continue To Be Positive On The Company

Below is the views from Sanjeev Zarbade, Vice President- Private Client Group Research, Kotak Securities on L&T results:
 
“L&T numbers are lower than our expectations. L&T reported Revenue of Rs 125.5 bn vs our estimates of Rs 133.9 bn, registering a growth of 5% yoy. EBITDA margins for the Q1FY14 works out to 8.5% vs our estimate of 9.0%. Adjusted net

Economy to recover slowly as RBI defends rupee-- Reuters Poll

By Yati Himatsingka

BANGALORE- A recovery in developed markets later this year will boost India's flagging economy, but growth will be lacklustre at best as the RBI refrains from cutting interest rates in order to keep a battered rupee currency from falling further.

The latest Reuters poll of over 30 analysts showed Asia's third larg

Rupee falls could constrain India's ratings:-- Moody's

Market Eye - Moody's Investors Service says rupee depreciation will exacerbate inflationary and fiscal pressures, with both factors potentially constraining the country's sovereign rating.

India's recent measures to prop up the rupee may limit exchange rate volatility to some degree but a sustained reversal in the rupee's would require a sign

Macquarie cuts India 2013/14 GDP forecast to 5.3 pct

MUMBAI - Macquarie cut India's economic growth forecast for the fiscal year ending in March 2014 to 5.3 percent from 6.2 percent, citing negative factors including the rupee fall, capital outflows, political uncertainty and a slowdown in new projects.

Macquarie added the Reserve Bank of India's recent measures to drain liquidity from the financial sy

Fitch-- Removal of FDI limit positive for telecom Companies

SINGAPORE/SYDNEY - The government's decision to remove the foreign direct investment (FDI) limit in the telecom sector will help reduce leverage and strengthen balance sheets in the medium term, Fitch Ratings says. The move could encourage foreign investors - who have previously been put off by FDI rules - to look again at the sector, and allow existing foreign investors

We Maintain Neutral View On The HDFC Bank

Below is the pasted below views on HDFC Bank Q1 results by Rikesh Parikh VP – Equities, Motilal Oswal Securities Ltd
 
“HDFC Bank has maintained its NIM margin, however increase in GNPA & NNPA during the quarter would be viewed negatively. We maintain neutral view on the stock

HDFC Bank reported yet another quarter of 30% + Pat growth. HD

RBI action threatens lenders' short-term funding - -analysts

Market Eye - Financial companies that are dependant on short-term wholesale funding will be most impacted by the RBI's measures to curb liquidity, analysts say.

Among private banks, Barclays highlights Yes Bank  and IndusInd Bank as most reliant on short-term wholesale funding, while non-banking financial companies such as IDFC are also vulnerable.<

Morgan Stanley turns 'cautious' on-- financial services

Market Eye - Morgan Stanley has changed its view on India's financial services stocks to "cautious" from "in-line", citing the Reserve Bank of India's decision to raise two short-term rates in order to tighten liquidity.

"Our in-line view on the sector was premised on stabilising growth and rates," Morgan Stanley said in

BofA-ML cuts India's FY14 GDP forecast to 5.5 pct

MUMBAI  - Bank of America-Merrill Lynch cut India's fiscal year 2013/14 growth forecast to 5.5 percent of the gross domestic product from 5.8 percent after the central bank took steps to curb rupee liquidity, it said in a note on Tuesday.

The Reserve Bank of India announced measures late on Monday to curb the rupee's decline by tightening liquid

BofA-Merrill says Sensex to remain range--bound

Market Eye - Bank of America-Merrill Lynch expects the BSE Sensex to remain range-bound with limited upside of 5 percent until regional elections in mid-November and given the prospect of "sluggish" GDP and earnings growth.

Still, the bank recommends investors be ready to buy on dips at BSE levels of 19,000-19,300 points.

The bank

Views on Infosys Q1 Result - Motilal Oswal Securities Ltd

Below is the views on INFY Q1 results by Gautam Sinha Roy, VP, Equities Motilal Oswal Sec 

Infosys reported USD revenue growth of 2.7% QoQ, while maintaining its FY14 revenue guidance of 6%-10% growth. CQGR of 1.5% for the remaining quarters is required to achieve the upper end of the guidance. Volume growth in IT services stood at 4.1% while blended pricing saw a decline of

Views on Infosys results: Dipen Shah, Head of PCG Research, Kotak Securities Ltd.

Below is the views from Dipen Shah, Head of Private Client Group Research, Kotak Securities on Infosys results:
 
“The 4.1% volume growth and 3.4% constant currency growth were the highlights of the quarter. The better-than-expected revenue growth resulted in margins also coming in slightly ahead of expectations. The company has also increased the guidance on a con

Expert Views: Infosys retains its dollar revenue guidance

MUMBAI  - Software services exporter Infosys Ltd <INFY.NS> met expectations on Friday with a 3.7 percent year-on-year increase in quarterly net profit as contract wins and foreign exchange gains boosted earnings, lifting its shares 10 percent in pre-open trade.

Consolidated net profit for the fiscal first quarter ended June 30 rose to 23.74 billio

PREVIEW --June headline inflation seen higher, driven by a weaker rupee

BANGALORE - India's headline inflation probably picked up again in June as a weaker rupee pushed up manufacturing and fuel costs but it was still within the Reserve Bank of India's comfort level, according to a Reuters poll.

Wholesale prices, India's key inflation measure, rose an annual 4.90 percent last month, the poll of 25 economists showed.<

Fund managers- keep faith in debt, gold-- Reuters poll

By Himank Sharma

MUMBAI  - Fund managers in India continue to prefer domestic debt and gold, expecting markets to recover from their recent sell-offs and to prove sturdier investments than stocks, according to a Reuters poll.

Debt funds have attracted 497.06 billion rupees this year, more than six times the amount invested in such funds

May factory output seen at 3-month low of 1.6 percent

BANGALORE - Factory production growth probably eased to a three-month low in May dampened by weak infrastructure sector output, as weak global demand and consumption weigh on a recovery in Asia's third-largest economy, a Reuters poll found.

The median forecast of 23 economists showed output at factories, mines and utilities grew an annual 1.6 percent in