Stock will ROAR ,Any Moment -Any time

IcIcI Bank

Hum Hain Naa !

Jump of Rs.250 on card !!!

ICICI Bank obtained the FIPB approval for selling upto 24 per cent in its financial services company to foreign investors. The proposed Finco (still subject to RBI approval) would be the holding company for its Life Insurance, General Insurance and Asset Managament businesses.

Finco approval positive for valuationsIBank had earlier proposed the sale of 5.9 per cent stake in Finco to a few investors (subject to approvals) for Rs 26.5 bn. This valued the Finco at US $ 11bn and the 3 businesses at $ 15 bn. The Life Insurance business is valued at around $ 11.5 bn; General Insurance at $ 2.5 bn and Asset management at $ 1 bn. This is equivalent to Rs 408 per share of IBank. The valuation provides benchmark for the valuation of subsidiaries in future.

IBank PO Rs 1225Adjusting for the value of subsidiaries, IBank trades at 1.09 FY09E adjusted book value. We believe that in fact IBank could trade upto 1.8XFY09E book given rising value of subsidiaries; forecast net profit growth of 35 per cent in FY09, net NPLs at <1.2>

The concerns on the CDO and Yen exposures are overdone. Impact of CDO exposure ( $ 1.5 bn) on bank's earnings is 3 to 3.5 per cent of its earnings offset by the leverage on its Treasury stock. Further IBank has no exposure to the US sub-prime markets and all its Yen borrowings are fully hedged.

Regards

Jinvani Advisors

PRECIOUS METALS

Dated :09th July'07

Break and close below $ 646.....will take to 634-630 level.

Weekly Chart indicates will face hurdle @ $ 658.50...crossover will take to 669,672.50 level.

(More details to our Subscribers )

MCX Traders.......Weekly chart indicates....above 8655 will take to 8683.........crossover will take to 8768,8796.

(Dont PANIC @ Lower levels )

:SILVER:
(Our lower target was achieved......and from 16656 it had taken U-turn......Now ,What to do ?? )

-Details to our Subscribers -

ALUMINUM :
Our lower tgt achieved.....!!
Now last hurdle exist at 114...crossover will take to 120 level.

COPPER-MCX
Now have a eye on 321 level...crossover will take to 332-336 level.
(Triangle breakout indicates price of Rs.343 )

NICKEL
Details to our Subscribers !!
Told to Go short @ 1953 level.........Yes it had broken H& S formation...and see it kissed and crashed to 1953 level

ZINC :
Details to our Subscribers !!