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  #121  
Old 19th July 2013, 01:50 PM
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Default ICICI Bank



ICICI Bank becoming attractive at sub 1000 levels...last 2 days closing at 980 & 984...the last time it closed below 1000 was in early April...
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  #122  
Old 19th July 2013, 11:17 PM
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Quote:
Originally Posted by Paramita Bannerjee View Post
ICICI Bank becoming attractive at sub 1000 levels...last 2 days closing at 980 & 984...the last time it closed below 1000 was in early April...
How is it attractive?

PE is still above 30.

Can you please share why you think its attractive?
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  #123  
Old 20th July 2013, 05:42 PM
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Originally Posted by Atiker View Post
PE is still above 30.
According to moneycontrol.com, the PE is just 13.
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  #124  
Old 20th July 2013, 06:54 PM
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Quote:
Originally Posted by Alchemist View Post
According to moneycontrol.com, the PE is just 13.
Even that is based on standalone numbers. Consolidated EPS for FY13 was around 83. Based on that PE is around 11.5.

These is a case for investing in private banks if they go lower. What do you feel Alchemist?
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  #125  
Old 20th July 2013, 07:10 PM
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Quote:
Originally Posted by Paramita Bannerjee View Post
ICICI Bank becoming attractive at sub 1000 levels...last 2 days closing at 980 & 984...the last time it closed below 1000 was in early April...
Yes, but provided you have a 2 year+ horizon. For short term bounce backs smaller banks may be better.

Quote:
Originally Posted by Atiker View Post
How is it attractive?

PE is still above 30.

Can you please share why you think its attractive?

Quote:
Originally Posted by Alchemist View Post
According to moneycontrol.com, the PE is just 13.
Quote:
Originally Posted by $$Money$$ View Post
Even that is based on standalone numbers. Consolidated EPS for FY13 was around 83. Based on that PE is around 11.5.

These is a case for investing in private banks if they go lower. What do you feel Alchemist?
P/E is meaningless for Banks anyways, two ratios which are most relevant for Banks are Price/Book and Return on Assets.

ICICI with a P/B of 1.6 sure looks attractive.

https://www.edelweiss.in/company/ICI...sion/5418.html

Both ICICI and HDFC Bank is not only a play on their banking forays but consolidated book holding Bank+ Insurance(General +Life) + Mutual Fund AMC+ Securities.

However, asset quality is still a concern for ICICI or AXIS and hence they get priced in much lower than a HDFC.

For short term bounce back, IndusInd or Yes Bank can be better bets as they have corrected significantly.
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  #126  
Old 20th July 2013, 11:19 PM
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Yes you are right. But P/E is composed of P/B and ROE. So it is not totally meaningless.

Yes Bank has been talking about raising capital. If the price keeps falling it might make it difficult for it to do so. Need to look more into IndusInd.

Axis Bank which raised capital recently at 1500 may be better position and at lower levels asset quality concerns would be priced in. Already below 10 PE and also at P/B of 1.6.

But if Yes Bank falls significantly it might be a great buy with its superior growth and higher ROE.

Also banking being such a homogenous business, the best approach might be buy a basket of good private banks unless one becomes ridiculously undervalued due to temporary issues.
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  #127  
Old 21st July 2013, 02:56 PM
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Quote:
Originally Posted by $$Money$$ View Post
Yes you are right. But P/E is composed of P/B and ROE. So it is not totally meaningless.
P/E being Market Cap/PAT,
P/B being Market Cap/Networth,
ROE being PAT/Networth

So in effect, P/B = P/E * ROE, so in effect focusing on P/B automatically takes into care the price as well as RoE.

Again RoE = RoA * Leverage. Hence, focusing on RoA helps us to eliminate comparatively higher leverage and focus on true returns.

Also apart from the theory part, Banks need to maintain higher capital adequacy ratios, thus the networth guides us to what extent the future profit growth is sustainable without diluting further equity.

For example: A bank quoting a very high P/B arising from a low P/E and very high RoE jacked up by extreme leverage is a dangerous bet and should be avoided.
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  #128  
Old 22nd July 2013, 12:02 AM
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Technically, it's best to stay away from banks for a while. The Bank Nifty is sitting on a very important support level which has been holding for the past 3 days. Once it cracks, the Bank Nifty will enter an intermediate term downtrend.



Interestingly, ICICI's major support levels have been broken. Nevertheless, if the BN's support holds, it will put up ICICI from the free fall.
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  #129  
Old 22nd July 2013, 08:20 AM
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Quote:
Originally Posted by Prudent_Investor View Post

For short term bounce back, IndusInd or Yes Bank can be better bets as they have corrected significantly.
What do you think about HDFC (note: not HDFC Bank)? This also corrected from its 52 week high value.
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  #130  
Old 24th July 2013, 09:54 AM
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Originally Posted by arcus View Post
Technically, it's best to stay away from banks for a while. The Bank Nifty is sitting on a very important support level which has been holding for the past 3 days. Once it cracks, the Bank Nifty will enter an intermediate term downtrend.
So has the support been broken?

What is your next target?
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  #131  
Old 24th July 2013, 10:56 AM
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Originally Posted by Alchemist View Post
So has the support been broken?

What is your next target?
Yup. Let's see today's close though.

As it enters an intermediate term downtrend, I am not sure of the ultimate targets but the next immediate swing support should be around 9800 (technical support) -10,000 (psychological support).
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  #132  
Old 25th July 2013, 12:06 AM
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Originally Posted by Alchemist View Post
So has the support been broken?

What is your next target?
This question doesn't suits you? You are a chart guru. How come you are not checking your charts?
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  #133  
Old 25th July 2013, 08:45 AM
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Originally Posted by man4urheart View Post
This question doesn't suits you? You are a chart guru. How come you are not checking your charts?
I am no guru and am often wrong, so getting a second opinion is always better.

Besides that Chartnexus has only 3 years of data and that makes taking medium and long term views a bit difficult, especially while trying to find long term supports for falling stocks and indices.
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  #134  
Old 9th September 2014, 05:43 PM
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Today ICICI Board looks like approved 5 for 1 stock split.
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  #135  
Old 1st August 2016, 01:27 PM
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There is something fundamentally wrong in icici's dna.

It has consistently performed worse than hdfc, corporate should be smart enough to learn from what the winners are doing.

ICICI is not a family or an individual owned company. They don't have a dearth of money to hire the top talent.
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