Stocks - Q : Quality | V : Valuation | PT : Price Trend
Funds - P : Performance | Q : Quality
Funds - P : Performance | Q : Quality
Bank of Rajasthan (BoR) promoter has decided to merge the bank with ICICI Bank. Both the bank boards have given an in-principle nod to the merger and have reached an indicative pricing with the promoters on a swap ratio of 118:25 (BoR:ICICI). The indicative price of Rs 188 according to the share swap would be a steep jump compared with the current market price.
The swap ratio is subject to due diligence which ICICI Bank has started from Tuesday. Acquisition would help ICICI bank to instantly build the current account and savings account relationships which typically takes 3 years. CASA (Current Account and Savings Account) is really going to be driven by branch network. The deal will give ICICI Bank another 500 branches and some of it are in locations where the bank is not present. This deal will help in improving its presence in north
The deal prices the market capitalisation per branch in the range of around Rs 6.5 crore, which is similar to other old private sector banks. Given ICICI Bank’s market capitalisation of Rs 99,125 crore, the bank will have to dilute its equity by less than 3%. ICICI Bank will propose a share-swap transaction with BoR.
The Tayals, promoters of BoR are believed to be under pressure to sell the old private bank amid regulatory action by Sebi and RBI. RBI has recently slapped a fine on BoR for a string of violations including deletion of records in the IT system, shady property deals and irregularities in a particular corporate group account. Sebi, on the other hand, has put a question mark on the shareholding of BoR. Though BoR promoters say they hold a 28.60% stake in the bank, Sebi has put the promoter shareholding at 55.01%. In March, Sebi had banned 100 entities allegedly holding BoR shares on behalf of the promoters from all stock market activities. Under the circumstances, Tayals may have to sort out the issues with Sebi to execute the deal with ICICI. crackcrack
| Company Name | CMP |
|---|---|
| HDFC Bank | 1910.35 |
| ICICI Bank | 1404.55 |
| Axis Bank | 1165.30 |
| Kotak Mahindra Bank | 2203.00 |
| Indusind Bank | 822.25 |
| View more.. | |
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MoneyWorks4Me rates and ranks mutual funds based on the following data-driven system:
Funds ranking in screeners: Performance Consistency and Quality are two parameters used for ranking funds for SIP. The ranking as follows GG, GO, GR, OG, OO, OR, RG, RO and RR.
With the same color-coded funds, the one with the higher Average 3-year rolling returns (over 5 to 10 years), the number that appears in the Performance tag, ranks higher.
Here is the summary:
The third tag Upside Potential is not relevant for SIP. It is relevant for lumpsum investments in Mutual Funds.
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