Discrimination faced by Mumbaikars...

If the housing societies in Mumbai (Bombay) are only meant for families (married couples), then the government of Maharashtra should make marriage compulsory in the state/city.
Or else the government should tell its citizens where will Unmarried, Divorcees, Bachelors, Spinsters live in the city of skyscrapers or is Bombay only for those who have families.
This is one of the greatest mental blocks of Mumbaikars, who otherwise want to bask in the FALSE HALO of Cosmopolitanism.
This disease (of not giving apartments to Bachelors, Muslims, etc on rent) is specially prevalent in housing societies where the Gujaratis, Marathis and North Indians (to some extent) abound; while the rest of the population is more or less okay with the concept.
The government of Maharashtra should take this matter seriously and devise laws to eradicate this malice ASAP, so that BOMBAY (and its suburbs) becomes free of discrimination based on Marital Status, Religion, etc. Or else the Honourable Supreme Court of India should step in, and give directions to the state or central governments -- so that the fundamental rights of its citizens enshrined in the constitution of India is not violated.

Wednesday, November 06, 2013

Allahabad Bank Ltd
Recommendation: Hold
Price target: Rs.109
Current market price: Rs.94 
Allahabad Bank reported a net profit of Rs275.8 crore for Q2FY2014. The same was higher than our estimate largely due to higher recoveries from the written-off accounts (Rs468 crore vs Rs127 crore in Q2FY2013) leading to a 130.4% year-on-year (Y-o-Y) growth in the non-interest income.  

Allahabad Bank’s results were better than expected though the concerns on the NIM and asset quality persist. In view of the higher non-interest income growth in Q2FY2014, we have revised our estimates and expect the bank’s earnings to grow at a compounded annual growth rate (CAGR) of 18.1% YoY. We also revise the price target to Rs109 (0.75x FY2015 adjusted book value). Though the valuation seems attractive at 0.65x FY2015 book value, but the subdued return ratios (return on asset [RoA ]of 0.6%), the equity dilution due to the capital infusion by the government and the volatility in the asset quality remain concerns. We maintain our Hold rating on the stock. 

Courtesy: Smart Investor