IFCI LTD: Next Targets: Rs.44.5-49
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The sentiments in the shares of IFCI Ltd has turned Mildly Bullish, again based on current futures contract, which closed last at around Rs.42.6.
Moreover, the Reserve Bank of India (RBI) is scheduled to announce annual monetary policy for 2012-13 on April 17, 2012. Many of the Bankers expect the central bank to cut cash reserve ratio (CRR) to ease the tight liquidity situation and boost growth.
CRR is the portion of deposit that banks are required to keep in cash with the Reserve Bank.
Last month, RBI had slashed CRR from 5.5% to 4.75%. With this, the central bank had infused Rs.48,000 crore into the economy. At the Banking and Finance Conference, bankers have unanimously called for a CRR cut. D Sarkar, the CMD of Union Bank is expecting a CRR cut of 25 to 50 bps, while SBI chairman Pratip Chaudhuri sees a cut of 75 bps. MD Mallya, CMD of BOB also expects a CRR cut on April 17.
Lot of marketmen (including FIIs) offlate, have been betting on emerging market central banks cutting rates to try and kick-start slowing growth even as inflation, long a worry for many, remains at elevated levels. The yield curves of bonds, have already steepened anticipating looser monetary policy in the coming days. In the recent past Brazil, for example, cut borrowing costs to their lowest level in almost two years in March, while China has reduced banks' reserve ratio on several occasions. "What it really tells you is that a lot of emerging market central banks perceive the cost of a slowdown to be much higher than the cost of elevated inflation, at least in the short run", Kay Haigh, ex-head of Emerging Market Trading at Deutsche Bank and now running Avantium Investment Management, said.
Last month, RBI had slashed CRR from 5.5% to 4.75%. With this, the central bank had infused Rs.48,000 crore into the economy. At the Banking and Finance Conference, bankers have unanimously called for a CRR cut. D Sarkar, the CMD of Union Bank is expecting a CRR cut of 25 to 50 bps, while SBI chairman Pratip Chaudhuri sees a cut of 75 bps. MD Mallya, CMD of BOB also expects a CRR cut on April 17.
Lot of marketmen (including FIIs) offlate, have been betting on emerging market central banks cutting rates to try and kick-start slowing growth even as inflation, long a worry for many, remains at elevated levels. The yield curves of bonds, have already steepened anticipating looser monetary policy in the coming days. In the recent past Brazil, for example, cut borrowing costs to their lowest level in almost two years in March, while China has reduced banks' reserve ratio on several occasions. "What it really tells you is that a lot of emerging market central banks perceive the cost of a slowdown to be much higher than the cost of elevated inflation, at least in the short run", Kay Haigh, ex-head of Emerging Market Trading at Deutsche Bank and now running Avantium Investment Management, said.
IFCI Limited is engaged in project financing, infrastructure development, debt and equity underwriting and syndication, venture capital, stock broking and merchant banking, factoring, asset reconstruction, tourism finance, micro finance, corporate and infrastructure advisory, technical consultancy and management education. Financial products include Short-term Loans, Long-term Loans, Lease Financing and structured products: acquisition finance, pre-initial public offering (IPO) investment, IPO finance and promoter funding. The Company is a Nodal Agency for monitoring of Sugar Development Fund (SDF) loans for projects related to modernization and expansion, co-generation of power and production of alcohol/ethanol in the private sector. Its corporate advisory services include corporate advisory and infrastructure services, infrastructure advisory, monitoring agency for public issues, restructuring advisory services and bid process management.
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