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ICICI Bank has cut floating retail loan and benchmark advance rates by 50 basis points, which will come into effect from tomorrow. The cut in rates applies to existing borrowers. However, there will be no cut in deposit rates. There won t be any pressure on the margins post the rate cut, said Chanda Kochhar, MD and CEO, ICICI Bank.
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CLSA has assigned an ‘outperform’ rating to fast-moving consumer goods firm HUL, citing attractive valuations as the key reason. HUL’s 2 6 percentage points market share loss across categories is worrisome. However, our analysis highlights that the share loss has been largely restricted to the lower end.
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If you are undecided on the market trend, neither convinced by fundamental or technical arguments, here is something else to chew on. Santa Barbara based stock market
astrologer Mahendra Sharma, a self styled Nostradamus of Wall Street, expects the market to re enter a 5 year bullish phase from end August onwards.
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