Banking shares reversed gears to trade in green zone after disappointing IIP dated validated hopes of twin cuts in the repo rate and the cash reserve ratio at the RBI’s upcoming monetary policy review meeting on June 18, 2012. India's annual industrial output growth measured by index of industrial production (IIP), showed a negligible growth of 0.1% for the month of April 2012 versus a contraction of (-) 3.5% in March, but remained way below the street expectation of 1.8%.
Canara Bank is currently trading at Rs 428.85, up by 11.20 points or 2.68% from its previous closing of Rs 417.65 on the BSE. The scrip opened at Rs 417.65 and has touched a high and low of Rs 430.00 and Rs 415.30 respectively. So far 26880 shares were traded on the counter.
IDBI Bank is currently trading at Rs 92.15, up by 1.50 points or 1.65% from its previous closing of Rs. 90.65 on the BSE. The scrip opened at Rs 89.95 and has touched a high and low of Rs 92.85 and Rs 89.50 respectively. So far 280588 shares were traded on the counter.
Federal Bank is currently trading at Rs 431.50, up by 6.15 points or 1.45% from its previous closing of Rs 425.35 on the BSE. The scrip opened at Rs 425.25 and has touched a high and low of Rs 432.85 and Rs 421.00 respectively. So far 3946 shares were traded on the counter.
Union Bank of India is currently trading at Rs 208.00, up by 2.90 points or 1.41% from its previous closing of Rs 205.10 on the BSE. The scrip opened at Rs 204.05 and has touched a high and low of Rs 208.50 and Rs 203.55 respectively. So far 48222 shares were traded on the counter.
| Company Name | CMP |
|---|---|
| SBI | 812.50 |
| Bank Of Baroda | 240.30 |
| Canara Bank | 99.65 |
| PNB | 100.70 |
| Union Bank Of India | 116.60 |
| View more.. | |
MoneyWorks4Me rating and ranking of funds for SIP is available to subscribers only. Moneyworks4Me is not a rating and ranking agency, however it is required that users have a way of selecting funds and building a Portfolio. The method used by it are described below to enable users to understand the logic behind the rating and ranking Subscriber will find more details on this in the various content made available from time to time. In case you need more please write to besafe@moneyworks4Me.com
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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