MEMBER'S LOGINX
| Invalid Username / Password | ||||||||
| Invalid Captcha | ||||||||
|
||||||||
| Sign Up | Forgot Password? | ||||||||
India's Third Giant Leap
This Could be One of the Biggest Opportunities for Investors
- Home
- Todays Market
- Indian Stock Market News January 13, 2010
SBI tops up growth plans Wed, 13 Jan 01:30 pm
Indian markets continued to languish in the red in the last two hours of trade. Currently stocks in the IT and media space are trading higher while stocks in all the remaining indices are trading in the red. The realty sector is the top loser with heavyweights pulling down the index.
The BSE-Sensex and the NSE-Nifty are currently trading under the dotted line by around 98 points and 33 points respectively. The BSE-Midcap Index is trading in the red after falling by 50 points. In the last two hours the BSE-Smallcap index also slipped into the red and is lower by about 14 points. The rupee is trading at 45.63 to the US dollar.
As per a leading daily, India's largest lender SBI is aiming to grow at 25% over the next few years. To achieve this strategy, the bank has major hiring plans this year. The bank plans to recruit more than 27,000 people this year. Of this 20,000 – 22,000 people will be in the clerical post while 5,500 people will be at probationary officer level. Besides this the bank plans to go for lateral hires at middle management level. As part of its rural strategy, the bank aims to deploy around 2,000 probationary officers at its rural branches. The bank plans to open 1,000 branches this year bringing its total branches to 13,000 while it plans to scale up its ATM network to 25,000. While the higher loan growth may be achievable in the medium term, SBI's cost efficiency may be impacted.
According to a press release, telecom major Bharti Airtel will be buying a 70% stake in Warid Telecom. This company is the fourth largest telecom company in Bangladesh with a subscriber base of 2.9 m. Bharti will be making an investment of Rs 13.7 bn in the company for the stake. This capital infusion is expected to be used for funding network expansion and introduction of innovative products and services. The acquisition will be partly through the issue of fresh shares and partly through the acquisition of existing shares of the current promoters, the Abu Dhabi group. The Abu Dhabi group will continue to hold the remaining 30% stake in Warid Telecom. This acquisition is seen as a part of Bharti's strategy of expanding its international operations. However, we do not expect this acquisition to have a significant impact on Bharti's performance in the near term.
For information on how to pick stocks that have the potential to deliver big returns, download our special report now!
Read the latest Market Commentary
Indian Share Market Update: Top Gainers and Losers
Equitymaster requests your view! Post a comment on "SBI tops up growth plans". Click here!
1 Responses to "SBI tops up growth plans"
ABOUT EQUITYMASTER
Since 1996, Equitymaster has been the source for honest and credible opinions on investing in India. With solid research and in-depth analysis Equitymaster is dedicated towards making its readers- smarter, more confident and richer every day. Here's why hundreds of thousands of readers spread across more than 70 countries Trust Equitymaster.
PREMIUM PRODUCTS
QUICK LINKS
POPULAR TOPICS
- Multibagger Penny Stocks
- Basics of Value Investing
- Benjamin Graham
- How to Invest in Gold
- How to Invest in Silver
- Best Stocks to Buy Today
- Best Small-cap Stocks to Buy
- Best Bluechip Stocks to Buy
- Guide to Penny Stocks
- How to Invest in the Share Market
- Warren Buffett - The Value Investor
- Pick the Best Multibagger Stocks
TRENDING TOPICS
Copyright © Equitymaster Research Private Limited (formerly Equitymaster Agora Research Private Limited).
Whitelist | Refer | Terms | Privacy | Contact | About | Sitemap
Equitymaster Research Private Limited (formerly Equitymaster Agora Research Private Limited) (Research Analyst)
SEBI (Research Analysts) Regulations 2014, Registration No. INH000000537.
103, Regent Chambers, Above Status Restaurant, Nariman Point, Mumbai - 400 021. India.
Telephone: +91-22-61434055. Email: info@equitymaster.com. Website: www.equitymaster.com.
CIN:U74999MH2007PTC175407
Name of the Compliance & Grievance Officer: Ms Sonal Ramachandran
Telephone: +91-22-61434003 | Email: compliance@equitymaster.com
LEGAL DISCLAIMER:
Investment in securities market are subject to market risks. Read all the related documents carefully before investing.
Registration granted by SEBI and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors.
All rights reserved. Any act of copying, reproducing or distributing this newsletter whether wholly or in part, for any purpose without the permission of Equitymaster is strictly prohibited and shall be deemed to be copyright infringement.
Equitymaster Research Private Limited (formerly Equitymaster Agora Research Private Limited) (Research Analyst) bearing Registration No. INH000000537 (hereinafter referred as 'Equitymaster') is an independent equity research Company. Equitymaster is not an Investment Adviser. Information herein should be regarded as a resource only and should be used at one's own risk. This is not an offer to sell or solicitation to buy any securities and Equitymaster will not be liable for any losses incurred or investment(s) made or decisions taken/or not taken based on the information provided herein. Information contained herein does not constitute investment advice or a personal recommendation or take into account the particular investment objectives, financial situations, or needs of individual subscribers. Before acting on any recommendation, subscribers should consider whether it is suitable for their particular circumstances and, if necessary, seek an independent professional advice. This is not directed for access or use by anyone in a country, especially, USA, Canada or the European Union countries, where such use or access is unlawful or which may subject Equitymaster or its affiliates to any registration or licensing requirement. All content and information is provided on an 'As Is' basis by Equitymaster. Information herein is believed to be reliable but Equitymaster does not warrant its completeness or accuracy and expressly disclaims all warranties and conditions of any kind, whether express or implied. Equitymaster may hold shares in the company/ies discussed herein. As a condition to accessing Equitymaster content and website, you agree to our Terms and Conditions of Use, available here. The performance data quoted represents past performance and does not guarantee future results.
anjanasaha
Jan 13, 2010plese send me SBI tops up growth plans".