ICICI Bank Gains as BofAML Maintains Bullish Stance

Sharemasterindia.com:
Shares in ICICI Bank gained nearly 2 per cent to a day high of rupee“>Rs. 1,604 on Monday. Bank of America Merrill Lynch (BofAML) maintains buy on the stock with a target price of Rs. 2,000 per share. The target implies an upside of over 25 per cent from its current level.
The brokerage says profitability of ICICI Bank has improved sharply over past 5 years and under a best case scenario the can double in three to four years. ICICI Bank stocks to re-rate as return on equity rises from 14 per cent to 18 per cent by FY18, adds BofAML.
As of 9.39 a.m. the shares in ICICI Bank traded 1.7 per cent higher at Rs. 1,600 apiece, outperforming the Nifty which was up 0.25 per cent.

Japan’s SoftBank to Invest $10 Billion in India; Snapdeal to Get $627 Million

New Delhi|(Sharemasterindia.com): Japanese telecom giant SoftBank has pledged an investment of $10 billion (rupee“>Rs. 61,000 crore) in India’s IT, communications and e-commerce sector, including $627 million (Rs. 3,825 crore) in Indian online retailer Snapdeal.
This is one of the biggest investment commitments from a Japanese firm after Prime Minister Narendra Modi’s visit to that country.
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Bharti Infratel Gains on Better Q2 Earnings

Shares in Bharti Infratel Ltd gained 2.2 per cent on Tuesday. The company reported a 68 per cent increase in September quarter net profit.
The company reported a healthy operational performance, with continued strong tenancy ratio improvement, JPMorgan said in a note.
Core return metrics, such as return on equity and return on capital employed continue to show an upward trend, it added.

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Coal India, Bharti Infratel, Hotel Leela in Focus Today

Sharemasterindia.com:
The Nifty is likely to open lower on Monday as indicated by futures trade on Singapore Stock Exchange and lower Asian markets. Foreign investors have sold stocks worth rupee“>Rs. 7 crore on Friday. However domestic investors were net buyers to the tune of Rs. 237 crore. Markets are likely to be volatile this week leading to expiry of derivative contracts on Thursday.
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