State Bank of India results are also out today and Diageo’s $1.5-2B opurchase of United Spirits for a stake of 52% from 18% of Vijay Mallya’s personal holdings and UB group holdings in the company has also held out. Some may think twice about lending a hand to Telecom plays from Bharti to Idea as subscribers numbers dwindle again and a new one time fee upon us but I suspect most have been able to see the upcoming uptick in pricing for calls given the healthy consumer spend growth and a good festive season. ITC and IDFC will lead while ICICI Bank keeps the trend but Banknifty relies more on SBI today.
Net Interest Margins at Chinese Banks are trending from 3 to 2% in the next three years leaving Indian NIMS among the highest in stable mmature markets except for some African nations which could not compete on the volme of credit. Thus there is an eminent segueway for DIIs and FIIs to be understanding about falling NIMS at PSE banks from PNB and BOB to SBI today hoowever further increases in NPA rates from near 3% levels are going to be inexcusable and unexpected for the market
Emirates and Etihad should be signing up Indian partners soon in the aviation story
Another 3 months should see 6000 levels on the Nifty and 20,000 on the Sensex just before the budget blues overturn Asia’s applecart (most markets should accede to fund out flows in favor of LAtAM and Indian shores)