In the previous fortnight, the Indian bourses witnessed strong FII inflows mainly on the back of profit-booking in base metals like copper, zinc and nickel. These funds found their way into India and the Philippines, among other emerging nations, giving a fillip to the stock markets, and are likely to continue, going forward.
Also, after the recent hike in interest rates by the Reserve Bank of India in its monetary policy review, the upside now seems to be capped at the current rate.
The Nifty benchmark index has support at the 5,800 level and at the 5,750 level, thereafter. The markets look good at current levels for investors and traders alike.
Market participants can consider stocks like Axis Bank (LTP: Rs 1,409.05), Bank of India (LTP: Rs 479.90), Orchid Chemicals & Pharmaceuticals (LTP: Rs 317.30), Bharat Forge (LTP: Rs 355.35), Federal-Mogul Goetze (India) (LTP: Rs 212.05) and Mcleod Russel India (LTP: Rs 262.35) as they look attractive at the current levels.
Sectorally speaking, cement looks good and market participants can look at Prism Cement (LTP: Rs 54.10), Grasim Industries (LTP: Rs 2,529.90) and ACC (LTP: Rs 1,091.95) from investment as well as trading perspectives.
The fourth quarter company results, which are also the year-end financial results for 2010-11, are likely to be the highlight of the coming month. The streets are expecting a mixed bag of results for the quarter. However, banking could be a positive surprise.
On the global level, rising crude oil prices could be a cause of concern in the next fortnight.
http://www.moneycontrol.com/news/marketoutlook/alliswellmarketatcurrentlevelsnirmalbang_535187.html
Sunday, April 10, 2011
ICICI Bank and Intuit launch “Money Manager”
ICICI Bank Ltd, India's largest private sector Bank and Intuit, a leading
global developer of business and personal finance management solutions, today
announced the launch of "Money Manager". It is an on-line personal finance
management solution which helps banking customers understand their spending
habits and organize their finances by providing them with details of all their ICICI Bank
accounts on a single platform.
This web-based solution, available through ICICI Bank's website, delivers the flexibility
to focus on specific details such as earnings, savings, spends and loans. "Money
Manager" makes it easy for customers to quickly and easily categorize their expenses
and set and track a realistic budget to achieve their financial goals.
Mr Rajiv Sabharwal, Executive Director, ICICI Bank Ltd, said, "Our Bank has always
focused on innovation in technology for customer empowerment. Internet Banking is
core to our technology prowess and we constantly innovate to provide path-breaking
solutions for our customers on-line." "Money Manager" is a unique personal finance
management solution which will give customers convenience of aggregating their
accounts and providing output required for managing expenses."
"Money Manager is the latest in a line of Intuit offerings that improve people's
financial lives so profoundly that they cannot imagine going back to the old way of
doing things," said Mr Alex Lintner, President, Global Business Division, Intuit Inc.
"Money Manager is unique to India and was specifically built for the market, while
leveraging the insights and learning's from our Quicken and Mint products. As a result
Intuit and ICICI Bank can deliver a world-class offering that addresses the unique
needs of banking customers."
With "Money Manager", ICICI Bank net banking customers can:
• Aggregate all their ICICI Bank Accounts (Savings Account, Credit Cards,
Loans, DEMAT etc.) automatically on one screen
• It will automatically segregate transactions across different income or
expense categories
• Set their monthly budget and monitor the performance of investments
• Get custom alerts on their balances, transactions and bill payments
About ICICI Bank:
ICICI Bank Limited (NYSE:IBN) is India's largest private sector bank and the second
largest bank in the country, with consolidated total assets of over $115 billion at
December 31, 2010. ICICI Bank's subsidiaries include India's leading private sector
insurance companies and among its largest securities brokerage firms, mutual funds
and private equity firms. ICICI Bank's presence currently spans across 19 countries,
including India.
About Intuit Inc.:
Intuit Inc. is a leading provider of business and financial management solutions for
small and mid-sized businesses; financial institutions, including banks and credit
unions; consumers and accounting professionals. Its flagship products and services,
including QuickBooks®, Quicken® and TurboTax®, simplify small business
management and payroll processing, personal finance, and tax preparation and filing.
ProSeries® and Lacerte® are Intuit's leading tax preparation offerings for professional
accountants. Intuit Financial Services helps banks and credit unions grow by
providing on-demand solutions and services that make it easier for consumers and
businesses to manage their money.
Founded in 1983, Intuit had annual revenue of $3.5 billion in its fiscal year 2010. The
company has approximately 7,700 employees with major offices in the United States,
Canada, the United Kingdom, India and other locations. More information can be
found at www.intuit.com.
Except for the historical information contained herein, statements in this release, which contain words or
phrases such as 'will', 'would', etc., and similar expressions or variations of such expressions may
constitute 'forward-looking statements'. These forward-looking statements involve a number of risks,
uncertainties and other factors that could cause actual results to differ materially from those suggested
by the forward-looking statements. These risks and uncertainties include, but are not limited to our
ability to obtain statutory and regulatory approvals and to successfully implement our strategy, future
levels of non-performing loans, our growth and expansion in business, the adequacy of our allowance
for credit losses, technological implementation and changes, the actual growth in demand for banking
products and services, investment income, cash flow projections, our exposure to market risks as well
as other risks detailed in the reports filed by us with the United States Securities and Exchange
Commission. ICICI Bank undertakes no obligation to update forward-looking statements to reflect events
or circumstances after the date thereof.
global developer of business and personal finance management solutions, today
announced the launch of "Money Manager". It is an on-line personal finance
management solution which helps banking customers understand their spending
habits and organize their finances by providing them with details of all their ICICI Bank
accounts on a single platform.
This web-based solution, available through ICICI Bank's website, delivers the flexibility
to focus on specific details such as earnings, savings, spends and loans. "Money
Manager" makes it easy for customers to quickly and easily categorize their expenses
and set and track a realistic budget to achieve their financial goals.
Mr Rajiv Sabharwal, Executive Director, ICICI Bank Ltd, said, "Our Bank has always
focused on innovation in technology for customer empowerment. Internet Banking is
core to our technology prowess and we constantly innovate to provide path-breaking
solutions for our customers on-line." "Money Manager" is a unique personal finance
management solution which will give customers convenience of aggregating their
accounts and providing output required for managing expenses."
"Money Manager is the latest in a line of Intuit offerings that improve people's
financial lives so profoundly that they cannot imagine going back to the old way of
doing things," said Mr Alex Lintner, President, Global Business Division, Intuit Inc.
"Money Manager is unique to India and was specifically built for the market, while
leveraging the insights and learning's from our Quicken and Mint products. As a result
Intuit and ICICI Bank can deliver a world-class offering that addresses the unique
needs of banking customers."
With "Money Manager", ICICI Bank net banking customers can:
• Aggregate all their ICICI Bank Accounts (Savings Account, Credit Cards,
Loans, DEMAT etc.) automatically on one screen
• It will automatically segregate transactions across different income or
expense categories
• Set their monthly budget and monitor the performance of investments
• Get custom alerts on their balances, transactions and bill payments
About ICICI Bank:
ICICI Bank Limited (NYSE:IBN) is India's largest private sector bank and the second
largest bank in the country, with consolidated total assets of over $115 billion at
December 31, 2010. ICICI Bank's subsidiaries include India's leading private sector
insurance companies and among its largest securities brokerage firms, mutual funds
and private equity firms. ICICI Bank's presence currently spans across 19 countries,
including India.
About Intuit Inc.:
Intuit Inc. is a leading provider of business and financial management solutions for
small and mid-sized businesses; financial institutions, including banks and credit
unions; consumers and accounting professionals. Its flagship products and services,
including QuickBooks®, Quicken® and TurboTax®, simplify small business
management and payroll processing, personal finance, and tax preparation and filing.
ProSeries® and Lacerte® are Intuit's leading tax preparation offerings for professional
accountants. Intuit Financial Services helps banks and credit unions grow by
providing on-demand solutions and services that make it easier for consumers and
businesses to manage their money.
Founded in 1983, Intuit had annual revenue of $3.5 billion in its fiscal year 2010. The
company has approximately 7,700 employees with major offices in the United States,
Canada, the United Kingdom, India and other locations. More information can be
found at www.intuit.com.
Except for the historical information contained herein, statements in this release, which contain words or
phrases such as 'will', 'would', etc., and similar expressions or variations of such expressions may
constitute 'forward-looking statements'. These forward-looking statements involve a number of risks,
uncertainties and other factors that could cause actual results to differ materially from those suggested
by the forward-looking statements. These risks and uncertainties include, but are not limited to our
ability to obtain statutory and regulatory approvals and to successfully implement our strategy, future
levels of non-performing loans, our growth and expansion in business, the adequacy of our allowance
for credit losses, technological implementation and changes, the actual growth in demand for banking
products and services, investment income, cash flow projections, our exposure to market risks as well
as other risks detailed in the reports filed by us with the United States Securities and Exchange
Commission. ICICI Bank undertakes no obligation to update forward-looking statements to reflect events
or circumstances after the date thereof.
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