Presidential Elections: Support Dr.Meira Kumar

Bihar and Jharkhand governments have no choice but to support Dr.Meira Kumar. As defeat of "Bihar ki Beti" will invariably bring Shame to the Biharis and Jharkhandis (or erstwhile unified Bihar). Do you think that, people of Bihar will leave Nitish Kumar Scott - free, if Dr.Meira Kumar loses ? So, Nitish Kumar has very little option left but to support, Dr.Meira Kumar.

Moreover, if Nitish Kumar wants to fall in the BJP's well calculated electoral TRAP no one can save him in the next election.

Also, I am surprised to see Mr.Navin Pattanayak, so easily chewing the RSS bait. Orissa is a state, where there is large chunk of Tribal Christian voters loyal to the BJD (Biju Janata Dal). I am still to fathom, BJD's sudden electoral gamble of siding with the RSS and the BJP; when Mr.Pattanayak has been maintaining distance from them since some time.

Besides, the election of Dr.Meira Kumar, who is educated, experienced and very sober, might also correct some of the historical mistakes of not making her father, the Prime Minister of India.

Also, I don't think all the Muslim and Christian MPs and MLAs from the TDP and TRS will ever support a RSS backed Candidate, who acted against Dalit Christian and Muslin reservations. Therefore, invariably cross voting will take place, which might give the underdog, Ms.Kumar, a win. Support Dr.Meira Kumar, give a conscience vote and make her the 2nd Female President of India.

All the best to Dr.Meira Kumar.....👍✌

Friday, November 08, 2013

UCO Bank Q2 net up 4-fold on strong retail banking revenues
[Editor: The rally in the BANK STOCKS could continue, as the next logical thing the RBI could do is either to put a status-quo on the Repo Rates or go in for a 25 basis points cut. Today the correction is seen mainly in the large caps, but Realty / Construction and Bank indices are not doing too bad. Most of Bank Stocks like Allahabad Bank Ltd (Rs.91.70), Bank of India Ltd (Rs.21.50), Dena Bank Ltd (Rs.60), Uninon Bank Ltd (Rs.128.40), etc are up marginally while UCO Bank Ltd (Rs.75) is now up around 5.7%]
UCO Bank Q2 net up 4-fold on strong retail banking revenuesPublic sector lender UCO Bank  surprised the street with second quarter net profit rising a whopping 3.85 times year-on-year to Rs 400 crore, driven by strong retail banking operations and MAT credit, despite higher provisions. 

Net interest income of the bank grew 55 percent to Rs 1,569.4 crore in three-month period ended September 2013 from Rs 1,013 crore in a year-ago quarter. 

Revenues from its retail banking operations jumped 48.7 percent Y-o-Y to Rs 1,554 crore while corporate/wholesale banking operations segment fell 14 percent Y-o-Y to Rs 1,990.6 crore in the quarter gone by. 

"The bank has recognised minimum alternate tax credit to the extent of Rs 90.09 crore for the quarter and Rs 237.51 crore for the period of six-month ended September 2013," according to its filing to the exchanges. 

Gross non-performing advances (NPAs) climbed 26 basis points sequentially (up 44 bps on yearly basis) to 5.32 percent while  net NPAs declined 2 bps Q-o-Q (but up 19 bps Y-o-Y) to 3.13 percent during second quarter. 

Provisions and contingencies rose 2.3 percent Q-o-Q (up 27 percent Y-o-Y) to Rs 758.7 crore in the quarter ended September 2013. Other income more than halved to Rs 209.2 crore during second quarter from Rs 462 crore in first quarter FY14. Other income in a year ago period was Rs 213 crore. During the same period, capital adequacy ratio (as per Basel III norms) declined sequentially to 12.31 percent from 12.80 percent. At 11:59 hours IST, the stock was trading at Rs 75.65, up 6.55 percent amid hefty volumes on the BSE.