Icici Bank Report

ICICI BANK ABOUT ICICI BANK ICICI jargon is Indias second-largest bevel with complete additions of Rs. 4,736. 47 million (US$ 93 billion) at sue 31, 2012 and advance after levy Rs. 64. 65 billion (US$ 1,271 million) for the category finish mollycoddlech 31, 2012. The brink has a network of 2,766 branches and 9,363 ATMs in India, and has a presence in 19 countries, including India.ICICI curse calls a large-minded range of swearing products and fiscal ser vice to collective and retail customers through a variety of preservation channels and through its specialised subsidiaries in the aras of investment funds banking, life and non-life insurance, venture capital and asset management. ICICI imprecate started as a wholly owned ancillary of ICICI restrain, an Indian m hotshottary institution, in 1994. Four eld later, when the bon ton crackinged ICICI cashboxs sh ars to the public, ICICIs sh arholding was reduced to 46%.In the year 2000, ICICI swan offered made an comeliness offering in the lick of ADRs on the forward-looking York Stock trade (NYSE), thereby becoming the starting Indian company and the first bank or financial institution from non-Japan Asia to be listed on the NYSE. In the adjoining year, it acquired the buzzword of Madura limited in an entirely- memory amalgamation. Later in the year and the conterminous fiscal year, the bank made secondary commercialise gross revenue enhancement to institutional investors.With a change in the corpo aim structure and the budding competition in the Indian positing industry, the management of both ICICI and ICICI swan were of the flavor that a merger in the midst of the two entities would prove to be an es moveial step. It was in 2001 that the Boards of Directors of ICICI and ICICI deposit empennageonic the amalgamation of ICICI and two of its wholly-owned retail finance subsidiaries, ICICI in-person financial operate Limited and ICICI crown serve Limited, with IC ICI Bank.In the follo come alongg year, the merger was sanctioned by its shareholders, the lavishly Court of Gujarat at Ahmedabad as well as the game Court of Judicature at Mumbai and the substitute Bank of India. ICICI Bank has its equity shares listed in India on Bombay Stock Exchange and the National Stock Exchange of India Limited. Overseas, its Ameri abide Depositary Receipts (ADRs) are listed on the New York Stock Exchange (NYSE). As of December 31, 2008, ICICI is Indias second-largest bank, ostentation an asset determine of Rs. 3,744. 10 billion and increase after taxation Rs. 30. 14 billion, for the nine months, that eradicateed on December 31, 2008. BRANCHESOFATMSICICI Bank has a wide network both in Indian and abroad. In India alone, the bank has 1,420 branches and about 4,644 ATMs. Talking about irrelevant countries, ICICI Bank has made its presence felt in 18 countries United soils, Singapore, Bahrain, Hong Kong, Sri Lanka, Qatar and Dubai International Financ e midpoint and representative offices in United Arab Emi rank, China, South Africa, Bangladesh, Thailand, Malaysia and Indonesia. The Bank proudly holds its subsidiaries in the United Kingdom, Russia and Canada out of which, the UK supplementary has established branches in Belgium and Germany. Products Personal Banking * Deposits * Loans Cards * enthronizations * indemnification * Demat Services * Wealth centering NRI Banking * Money transfer * Bank Accounts * Investments * Property Solutions * indemnification * Loans Business Banking * incorporated plunder Banking * capital Management * Trade Services * FXOnline * SME Services * Online taskes * Custodial Services Board Members * Mr. K. V. Kamath,- death chair * Mr. Sridar Iyengar * Dr. Swati Piramal * Mr. Homi R. Khusrokhan * Mr. Arvind Kumar * Mr. M. S. Ramachandran Dr. Tushaar Shah Mr. V. Sridar Ms. Chanda Kochhar, Managing Director & CEO Mr. N. S. Kannan, Executive Director & chief financial officer Mr. K. Ramkumar, Executive Director Mr. Rajiv Sabharwal,Executive Director Head seat ICICI Bank 9th Floor, South Towers ICICI Towers solidifyingra Kurla Complex Bandra (E) Mumbai Phone 91-022-653 7914 Website www. icicibank. com hit the books ANALYSIS Strengths of ICICI Bank * ICICI is the second largest bank in hurt of total assets and marketplace share * amount of money assets of ICICI is Rs. 4062. 34 Billion and recorded a swiftness limit profit after tax of Rs. 51. 51 billion and located in 19 countries * One of the study strength of ICICI bank according to financial analysts is its unanimous and transparent balance sheet * ICICI bank has first m over advantage in many of the banking and financial suffices.ICICI bank is the first bank in India to confront complete unsettled banking solutions and jewelry card * The bank has PAN India presence of about 2,567 branches and 8003 ATMs * ICICI bank is the first bank in India to truss life style benefits to banking function for exclusive purchases and tie-ups with outgo brands in the industry such as Nakshatra, Asmi, Ddamas etc * ICICI bank has the longest working hours and additive services offering at ATMs which attracts customers * market and advertising strategies of ICICI have good reach equivalenced to opposite banks in India Weaknesses ofICICI Bank Customer support of ICICI office is non performing well in terms of resolving complaints * There are lot of consumer complaints filed against ICICI * The ICICI bank has the some stringent policies in terms of retrieve the debts and loans, and credit payments. They employ third party chest of d peeleders to handle recovery management * There are in like manner complaints of customer assault and ab role man recovering and the credit payment reminders are sent even before the deadlines which annoys the customers * The bank service charges are comparatively higher(prenominal)er The employees of ICICI are bank in maximum stress beca apply of the aggressive policies of the management to win ahead in the race. This whitethorn result in little productivity in future age Opportunities ofICICI Bank * Banking arena is judge to grow at a rate of 17% in the coterminous three age * The concept of saving in banks and investing in financial products is increase in clownish areas as more(prenominal) than than 62% component part of Indias population is still in rural areas. As per 2010 data in TOI, the total twist b-schools in India are more than 1500. This can fix regular offer up of trained human position in financial products and banking services * Within next four years ICICI bank is planning to un buttoned 1500 new branches * Small and non performing banks can be acquired by ICICI beca design of its financial strength * ICICI bank is evaluate to have 20% credit growth in the coming years. * ICICI bank has the minimum amount of non performing assets panics ofICICI Bank RBI allowed foreign banks to invest up to 74% in Indian banking * giving medication sector banks are in urge of modernizing the capacities to ensure the customers switch to new age banks are minimized * HDFC is the study(ip) competitor for ICICI, and former(a) upcoming banks like AXIS, HSBC chew the fat a major threat * In rural areas the micro financing groups hold a major share * Though customer acquisition is high on one side, the unsatisfied customers are increasing and make them to switch to separate banks. PORTERS FIVE FORCE ANALYSIS Bargaining big businessman of Suppliers * Inputs have little impact on embody When inputs are not a big divisor of cost, suppliers of those inputs have less bargain power. Low cost inputs positively affectICICI Bank. Bargaining Power of Customers * titanic function of customers * When there are large numbers of customers, no one customer tends to have bargaining leverage. Limited bargaining leverage helpsICICI Bank. Intensity of active Rivalry * Low storage costs (ICICI Bank) * Governmen t limits competition (ICICI Bank) * Large industry size (ICICI Bank) Threat of Substitutes New Aspirants in Banking sector like AV Birla, Tata Group,IFCI etc. Threat of New Competitors * Strong dispersal network required (ICICI Bank) * risque capital requirements (ICICI Bank) * High sunk costs limit competition (ICICI Bank) * pains requires economies of scale (ICICI Bank) * Geographic factors limit competition (ICICI Bank) * High learning curve (ICICI Bank) SUBSIDIARIES COMPANIES At March 31, 2012, ICICI Bank had 17 subsidiaries as listed in the following disconcert DOMESTIC SUBSIDIARIES * ICICI Securities Primary Dealership Limited * ICICI prudent asset Management caller-up Limited ICICI prudential Trust Limited * ICICI securities Ltd. * ICICI Venture gold Management Company Limited * ICICI Prudential Life insurance policy Company Limited * ICICI Prudential Pension bills Management Company Limited * ICICI Lombard General Insurance Company Limited * ICICI Home Finance Comp any Limited * ICICI Investment Management Company Limited * ICICI Trusteeship Service Limited INTERNATIONAL SUBSIDIARIES * ICICI Bank UK PLC * ICICI Securities Inc. * ICICI International Ltd. * ICICI Bank Eurasis Ltd. Liability Company. * ICICI Securities Holdings, Inc * ICICI Bank Canada monetary HIGHLIGHTSAs required by United States securities regulations, ICICI Bank Limited (NYSE IBN) filed its annual say in invent 20-F for the year ended March 31, 2012 (FY2012) on July 31, 2012. The skeletal system 20-F annual report includes the Banks merge financial line of reasonings under Indian mainly accepted method of accounting principles and a reconciliation of consolidated profit after tax and net worth under Indian generally accepted accounting principles to net income and ocellusholders equity under US GAAP, approved by the Audit Committee of the Board. The consolidated profit after tax for FY2012 under Indian GAAP was Rs. 7,643 crore (US$ 1,502 million) and the net income under US GAAP was Rs. ,998 crore (US$ 1,375 million). Stockholders equity as per US GAAP was 63,872 crore (US$ 12. 55 billion) at March 31, 2012 compared to the consolidated net worth as per Indian GAAP of 61,277 crore (US$ 12. 04 billion) ICICI BANK Key Financial balances of ICICI Bank Mar12 Mar11 Mar 10 Mar 09 Mar 08 investment military rating proportionalitys Face Value 10. 00 10. 00 10. 00 10. 00 10. 00 Dividend Per contend 16. 50 14. 00 12. 00 11. 00 11. 00 run attain Per percent (Rs) 76. 15 64. 08 49. 80 48. 58 51. 29 win operate Profit Per Share (Rs) 346. 19 281. 04 293. 74 343. 9 354. 71 bleak Reserves Per Share (Rs) 376. 49 358. 12 356. 94 351. 04 346. 21 Bonus in Equity upper-case letter Profitability proportions matter to Spread 4. 44 4. 01 5. 66 3. 66 3. 51 Ad skilfuled Cash Margin(%) 17. 45 17. 52 13. 64 11. 45 11. 81 Net Profit Margin 16. 14 15. 91 12. 17 9. 74 10. 51 transcend on keen-sighted Term Fund(%) 52. 09 42. 97 44. 72 56. 72 62. 3 4 Return on Net Worth(%) 10. 70 9. 35 7. 79 7. 58 8. 94 Ad fairished Return on Net Worth(%) 10. 70 9. 27 7. 53 7. 55 8. 80 Return on Assets Excluding Revaluations 524. 01 478. 31 463. 01 444. 94 417. 4 Return on Assets Including Revaluations 524. 01 478. 31 463. 01 444. 94 417. 64 Management Efficiency ratios stakes Income / original Funds 9. 07 8. 41 8. 82 9. 82 10. 60 Net Interest Income / amount of money Funds 3. 89 4. 01 4. 08 3. 99 4. 29 Non Interest Income / Total Funds 0. 03 0. 08 0. 08 0. 02 Interest Expended / Total Funds 5. 18 4. 41 4. 74 5. 83 6. 31 Operating Expense / Total Funds 1. 89 2. 09 2. 59 2. 60 2. 76 Profit Before provide / Total Funds 1. 91 1. 77 1. 41 1. 30 1. 40 Net Profit / Total Funds 1. 47 1. 34 1. 08 0. 96 1. 12 Loans Turnover 0. 8 0. 17 0. 17 0. 18 0. 20 Total Income / Capital Employed(%) 9. 10 8. 41 8. 90 9. 90 10. 62 Interest Expended / Capital Employed(%) 5. 18 4. 41 4. 74 5. 83 6. 31 Total Assets Turnover Ratios 0. 09 0. 08 0. 09 0. 10 0. 1 1 Asset Turnover Ratio 0. 09 3. 55 4. 60 5. 14 5. 61 Profit And sacking Account Ratios Interest Expended / Interest Earned 68. 00 65. 29 68. 44 73. 09 76. 28 early(a) Income / Total Income 0. 37 0. 02 0. 92 0. 86 0. 17 Operating Expense / Total Income 20. 77 24. 81 29. 05 26. 22 26. 00 Selling Distribution comp formulate Composition 0. 73 0. 94 0. 72 1. 4 4. 43 Balance Sheet Ratios Capital adequacy Ratio 18. 52 19. 54 19. 41 15. 53 13. 97 Advances / Loans Funds(%) 65. 30 64. 96 58. 57 69. 86 72. 67 Debt Coverage Ratios Credit Deposit Ratio 92. 23 87. 81 90. 04 91. 44 84. 99 Investment Deposit Ratio 61. 16 59. 77 53. 28 46. 35 42. 68 Cash Deposit Ratio 8. 60 11. 32 10. 72 10. 14 10. 12 Total Debt to Owners Fund 4. 23 4. 10 3. 91 4. 42 5. 27 Financial Charges Coverage Ratio 0. 39 0. 44 0. 33 0. 25 1. 25 Financial Charges Coverage Ratio Post Tax 1. 31 1. 34 1. 26 1. 20 1. 20 Leverage Ratios Current Ratio 0. 13 0. 11 0. 14 0. 13 0. 11 Quick Ratio 16. 71 15. 86 14. 70 5. 94 6. 42 Cash Flow Indicator Ratios Dividend Payout Ratio Net Profit 32. 82 35. 23 37. 31 36. 60 33. 12 Dividend Payout Ratio Cash Profit 30. 36 31. 76 32. 33 31. 00 29. 08 Earning Retention Ratio 67. 19 64. 49 61. 40 63. 23 66. 35 Cash Earning Retention Ratio 69. 65 68. 01 66. 70 68. 87 70. 51 AdjustedCash Flow Times 36. 54 39. 77 44. 79 49. 41 52. 34 Mar 12 Mar 11 Mar 10 Mar 09 Mar 08 Earnings Per Share 56. 09 44. 73 36. 10 33. 76 37. 7 sacred scripture Value 524. 01 478. 31 463. 01 444. 94 417. 64 semenMoneycontrol. com ANALYSIS AND INTERPRETATION CURRENT proportion conduct OF PROFIT AND LOSS ACCOUNT Meaning It is a financial statement, which shows net profit & loss of a company for a specified period. The accounting year fashion calendar year 12 months or less or more then 12 months. Parts of the Profit and Loss Account The Profit & Loss Account aims to monitor profit. It has three parts. 1) The craft Account. This records the money in (revenue) an d out (costs) of the business as a result of the business trading ie get and shiting.This might be barter foring raw stuff and nonsenses and selling finished goods it might be barter foring goods whole bargain and selling them retail. The figure at the end of this section is the Gross Profit . 2) The Profit and Loss Account. This starts with the Gross Profit and adds to it any further costs and revenues, including overheads. These further costs and revenues are from any other activities not directly cogitate to trading. An example is income authorized from investments. 3) The Appropriation Account. This shows how the profit is appropriated or divided between the three uses mentioned above. HORIZONTAL ANALYSISWhen an analyst compares financial information for two or more years for a single company, the process is referred to as plain digest, since the analyst is reading across the page to compare any single line item, such as gross sales revenues. In addition to canvass do llar amounts, the analyst computes percentage changes from year to year for all financial statement balances, such as cash and inventory. Alternatively, in comparing financial statements for a number of years, the analyst may prefer to use a variation of level analysis called trend analysis. VERTICAL ANALYSISWhen use upright analysis, the analyst calculates each item on a single financial statement as a percentage of a total. The term vertical analysis applies because each years figures are listed vertically on a financial statement. The total use by the analyst on the income statement is net sales revenue, while on the balance sheet it is total assets. This approach to financial statement analysis, also cognize as component percentages, produces parking lot-size financial statements. Price/sale ratio roughly Price to Sales Ratio(P/S) The expenditure to sales ratio (PS ratio) is calculated by dividing storage determine by the revenue per share.It is most usable for comparin g companies within a sector or industry because normal values for this ratio transfer from industry to industry. In general, low value to sales ratios are more appealing because they suggest that a company is undervalued. P/E ratio About Price to Earnings Ratio The legal injury to gelt ratio (PE Ratio) is the bar of the share toll coitus to the annual net income earned by the rigid per share. PE ratio shows current investor exact for a company share. A high PE ratio generally indicates increase take in because investors anticipate earnings growth in the future.The PE ratio has units of years, which can be interpreted as the number of years of earnings to pay hold purchase price. PRICE/BOOK VALUE RATIO About Price to Book Ratio The price to book value is a financial ratio use to compare a companys book value to its current market price. Book value is an accounting term denoting the portion of the company held by the shareholders at accounting value (not market value). In o ther words, book value is the companys total tangible assets less its total liabilities. DCF METHOD beta(? ) The Beta (? of a personal line of credit or portfolio is a number describing the correlated unpredictability of an asset in relation to the irritability of the bench mark that said asset is being compared to. This benchmark is generally the general financial market and is often estimated via the use of representative indices, such as the SP 500. An asset has a genus Beta of cipher if its moves are not correlated with the benchmarks moves. A positive genus Beta means that the asset generally follows the benchmark, in the nose out that the asset tends to move up when the benchmark moves up, and the asset tends to move down when the benchmark moves down.A negative beta means that the asset generally moves opposite the benchmark the asset tends to move up when the benchmark moves down, and the asset tends to move down when the benchmark moves up. It nibs the part of the assets statistical variance that cannot be removed by the variegation provided by the portfolio of many risky assets, because of the correlation of its returns with the returns of the other assets that are in the portfolio. Beta can be estimated for individual companies using regression analysis against a telephone circuit market index. The locution for the beta of an asset within a portfolio is here ra measures the rate of return of the asset, rp measures the rate of return of the portfolio, cov(ra,rp) is the covariance between the rates of return. The portfolio of interest in the CAPM formulation is the market portfolio that contains all risky assets, and so the rp terms in the formula are replaced by rm, the rate of return of the market. Beta is also referred to as financial elasticity or correlated sex act volatility, and can be referred to as a measure of the sensitivity of the assets returns to market returns, its non-diversifiable risk, its magisterial risk, or market ri sk.The market itself is considered to have a Beta of 1. Using regression analysis, the beta of the old-hat is calculated. If the beta of the stock is greater than 1, this means the stocks prices are more volatile than the market, and vice verse. For example, if a stock has a beta of 1. 2, this means that a 1% change in the market index testament bring about a 1. 2% change in the stocks price. Stocks with high beta are considered to be more risky compared to the ones with low beta. Bollinger Bands Bollinger Bandsis atechnical analysistool invented byJohn Bollinger in the 1980s, and a term mark by him in 2011.Having evolved from the concept of trading bands, Bollinger Bands and the related indicators%band bandwidthcan be used to measure the highness or lowness of the price relative to previous trades. Bollinger Bands consist of * anN-period locomote fairish (MA) * an upper band atKtimes anN-period streamer deviationabove the moving average (MA+K? ) * a lower band atKtimes anN-perio d cadence deviation below the moving average (MA? K? ) Typical values forNandKare 20 and 2, respectively.The default extract for the average is a simplemoving average, but other types of averages can be employed as needed. Exponential moving averagesare a common second choice. Usually the same period is used for both the middle band and the calculation of standard deviation. INTERPRETATION The use of Bollinger Bands varies widely among traders. Some traders debase when price touches the lower Bollinger Band and exit when price touches the moving average in the center of the bands. Other traders buy when price breaks above the upper Bollinger Band or sell when price falls below the lower Bollinger Band.Moreover, the use of Bollinger Bands is not confined to stock tradersoptionstraders, most notablyimplied volatility traders, often sell options when Bollinger Bands are historically furthest apart or buy options when the Bollinger Bands are historically be quiet together, in both instances, call foring volatility to revert back towards the average historical volatility level for the stock. When the bands lie compressed together a period of lowvolatilityin stock price is indicated. When they are far apart a period of high volatility in price is indicated.When the bands have only a slight slope and lie approximately double for an extended time the price of a stock go forth be found to oscillate up and down between the bands as though in a channel. Traders are often inclined to use Bollinger Bands with other indicators to see if there is confirmation. In particular, the use of an oscillator like Bollinger Bands will often be join with a non-oscillator indicator likegraph patternsor atrendline if these indicators confirm the recommendation of the Bollinger Bands, the trader will have greater evidence that what the bands forecast is correct.Monte carlo make-believe Risk analysis is part of every stopping point we make. We are constantly faced with uncertai nty, ambiguity, and variability. And even though we have unprecedented access to information, we cant accurately predict the future. Monte Carlo simulation (also know as the Monte Carlo Method) lets you see all the workable outcomes of your decisivenesss and assess the impact of risk, allowing for better decision do under uncertainty. Monte Carlo simulation is a computerized numeric proficiency that allows people to account for risk in quantitative analysis and decision making.The technique is used by professionals in such widely disparate fields as finance, project management, energy, manufacturing, engineering, research and development, insurance, oil & gas, transportation, and the environment. Monte Carlo simulation furnishes the decision-maker with a range of credibly outcomes and the probabilities they will occur for any choice of action.. It shows the fundamental possibilitiesthe outcomes of going for broke and for the most conservative decisionalong with all possible c onsequences for middle-of-the-road decisions.The technique was first used by scientists working on the atom bomb it was named for Monte Carlo, the Monaco resort townsfolk renowned for its casinos. Since its introduction in World state of war II, Monte Carlo simulation has been used to model a variety of physical and conceptual systems. ICICI BANK CHARTS The annotated map above shows a stock that opened with a gap up. Before the open, the number of buy outranks exceeded the number of sell launchs and the price was raised to attract more sellers. Demand was brisk from the start. The intraday high reflects the strength of demand (buyers). The intraday low reflects the availability of supply (sellers).The close represents the net price agreed upon by the buyers and the sellers. In this case, the close is well below the high and much close at hand(predicate) to the low. This tells that even though demand (buyers) was strong during the day, supply (sellers) ultimately prevailed and forced the price back down. nonetheless after this selling pressure, the close remained above the open. By looking at price action over an extended period of time, we can see the engagement between supply and demand unfold. In its most basic form, higher prices reflect increased demand and lower prices reflect increased supply. InterpretationThe Rate-of-Change (ROC) indicator, which is also referred to as simply Momentum, is a pure impetus oscillatorthat measures the percent change in price from one period to the next. The ROC calculation compares the current price with the price n periods ago. The plot forms an oscillator that fluctuates above and below the zero line as the Rate-of-Change moves from positive to negative. As a momentum oscillator, ROC signals include centerline crossovers, divergences and overbought-oversold readings. Divergences fail to forecast reversals more often than not so this denomination will forgo a discussion on divergences.Even though centerline cro ssovers are prone to whipsaw, peculiarly short-run, these crossovers can be used to identify the overall trend. Identifying overbought or oversold extremes comes natural to the Rate-of-Change oscillator. Standard deviation chart that measures the amount of variability or scatter around an average. Standard deviation is also a measure of volatility. Generally speaking, dispersion is the difference between the unquestionable value and the average value. The larger this dispersion or variability is, the higher the standard deviation. The smaller this dispersion or variability is, the lower the standard deviation.Chartists can use the Standard Deviation to measure expected risk and determine the significance of certain price movements. BRIEF ABOUT PORTFOLIO Annexure News Analysis Regarding Portfolio * Bajaj corporation Nirmal Bang is bullish on Bajaj corporation and has recommended buy rating on the stock with a gull of Rs 228 in its October 9, 2012 research report. We have upgra ded our FY13E and FY14E earnings estimates for Bajaj Corp (BCL) by 6. 4% and 3. 7%, respectively, factoring in higher gross margins. Consequently, we have increased our stone pit price on the stock to Rs228 (from Rs220 earlier) and retained grease ones palms rating on it. * DABUR INDIA LTD..AnandRathi has come out with its report on consumer sector. The research firm recommends buy on ITC, Nestle India, Colgate, GSK Consumer, Emami, Pidilite, Agro Tech Foods, Bajaj Corp. , angelical Lingerie, Zydus Wellness, and Tilaknagar Industries. Dabur, Marico as Hold, and have Sell on HUL, Asiatic Paints, Britannia, and VST Industries. Consumer companies are expected to report 17% revenue growth, led by higher volumes and prices. We expect stalls EBITDA margins, despite rise in raw material costs (up 7-8%) and reduced weights. With tax rates likely to rise 50-150bps, we expect net profit to increase only 15% yoy.Revenues on the riseWe expect sector revenues to grow 17%, led by volume and price. Offtake from the Canteen Stores Department, comprising 8% of sales, would be subdued. However, rupee depreciation of 10-12% will benefit companies with more than 15% in exports (Asian Paints, Marico, Dabur). * Bharti Airtel Top telecom carrierBharti Airtelwill bid in an upcoming auctioneer of mobile phone airwaves, said a company source, who declined to be named as the matter is not public yet. The airwaves auction is the result of a Supreme Court order to revoke permits issued in a scandal-tainted sale in 2008.Bharti Airtel is not affected by that court order but it could be looking to buy additional spectrum. Friday is the deadline for companies to submit their application to participate in the auction, which is schedule to start on November 12. ICICI BANK SBI,HDFC BankandICICI Bankare the take up bets, says Sudarshan Sukhani, s2analytics. com. Jaiprakash Associates, they had set a aspire of about Rs 100, much lower when it was Rs 80-81. It is almost there. So now for p eople who hold positions there are the potential of more gains, but at Rs 95 I do not know if a trader can actually buy. The targets are just in front of us.Perhaps the stocks will consolidate. Perhaps it could go up and it may not. He further added, The risk-reward is no longer in favor of a short-term trader. For actually people who still hold them I think there is more upside. The Bank not bad(predicate)itself becomes a buying opportunity as we just entered the last half an hour of trading. The Nifty is clear above the 5700 level. I had explained earlier that we do not need a level on the Bank Nifty. If the Nifty is trading above 5700 we can buy the Nifty as well as the Bank Nifty and we should, at least the aggressive traders should. The CNX-IT can be left alone.Which are the best stocks in the Bank Nifty to go along with? It is State Bank of India, HDFC Bank and ICICI Bank. OBSERVATION ICICI Bank- Key fundamental principle Market Cap (Rs Cr. ) 118,375 EPS TTM (Rs)64. 19 P/ E Ratio (x)15. 91 Face Value (Rs)10. 00 latest Div. (%)165. 00 Div. Yield (%)1. 60 Book Value / sh. (Rs) 523. 79 P/B Ratio (x)1. 96 mop up There are many online services which offer tools that enable us to choose investments plus those which offer relatively affordable trade margins. These options are essentially for everyone though experienced traders could be well midazolam with them.To evaluate a good online trading service we need to look at the several factors. Issues to do with fees plus commissions for doing business can quickly rise up. Comprehensive services should be able to provide extended markets in addition to investment services including other retirement options. Since purchasing and selling at online stock trading is nerve racking, overall best services provide instant messaging as well as phone support. Bibliography www. Moneycontrol. com www. Bseindia. com www. Nseindia. com www. Wikipedia. com ANNEXURE - As per maiden NOV 2012-