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HDFC Bank (Rs 644). Hold Price Target Rs. 710. Concentration Risk on Liability Side.
The bank appears to have a high concentration of deposits from ultra high net worth individuals (UHNIs). There are indications that the concentration is on the rise, with the bank focusing on getting a major share of deposits from this premium category.

January 28 , 2014. | Nirmal Bang Institutional Equities. View

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India Strategy: Clouded Horizon. Lower Growth, Subdued Investment Climate Likely.
Attacking costpush inflation through higher interest rates may worsen the situation as there is no assurance that growth would automatically bounce back. As a result, India may be poised for an extended period of lower inflation accompanied by subdued growth and investment.

June 9, 2011. | Nirmal Bang Institutional Equities. View

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Indian Economy. GDP Growth at What Cost.
If reforms in India have to have widespread social support thereby ensuring the survival and continuity of the reform process, significant investment in agriculture and expenditure in social welfare by both the central and state governments is required.

March 10, 2006. | Karvy Stock Broking View

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Defence Industry-gunning for growth; Astra Microwave, Premier Explosives, Zen Technologies & Avantel.

June 20, 2006. | Karvy Stock Broking View

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State Bank of India (Rs232). Buy Price Target Rs 335.
Consolidation makes SBI an even more formidable player in the Indian banking industry, dwarfing its nearest rivals in size, distribution and financial muscle.

August 8, 2002 | SG Securities View

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Indian Banks: Corporate Governance - Miles to Go.
Compliance with the formal corporate governance code will be incorporated in FY2001 annual reports. investors should not be dismayed by the lack of a corporate governance structure or conversely, lower their guard at elaborate corporate governance norms. Our report reveals that substance (eg, the importance of truly independent directors) is more important than form (compliance with the corporate governance code).

April 11, 2001 | UBS Warburg Securities View

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Bank of Baroda (Rs41) Buy Price Target Rs 80.
The bank is planning several initiatives that will transform it into a vibrant, technologically advanced institution, responding quickly to customer needs.

September 18, 2000 | ASK Raymond James View

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HDFC Bank (Rs248) Buy. Profits Tucked Away For a Rainy Day.
HDFC Bank has used ingenious ways to understate its profits under Indian provisioning rules for FY2000. Apparently the year ended with the bank being flush with profits and, therefore, management decided to use some of its FY2000 profits for future contingencies

May 3, 2000 | ASK Raymond James View

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State Bank of India (Rs245). Buy. A question of leadership. Post this report and the subsequent media coverage, the Indian government changed the selection policy of appointment of SBI chairman solely on the basis of seniority.

February 3, 2000.| ASK Raymond James View

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Banking: New CEO New Accounts.
Forecasts for financial institutions have to take into account the coming of a new chief executive officer (CEO). Some new CEOs have presented shocking results in their first year. Robust profits of previous years have suddenly evaporated, replaced by marginal profitability or even losses.

June 15, 1999 | ASK Raymond James View

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ICICI (Rs 54). Sell.
ICICI has included Rs3.5bn of twenty year preference share in its tier-I capital in FY1998 and H1FY1999 in violation of the Reserve Bank of India (RBI) guidelines on capital adequacy.

January 7, 1999 | ASK Raymond James View

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