Oriental Bank of Commerce

OBC looking set to start a 400 metre race towards higher levels

Posted by : hardip singh
Price when posted : BSE: Rs 157.10 ( 1.88 % ), NSE: Rs. 157.25 ( 2.14 % )

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Once the inflation is under control and the interest rates stabalise, OBC shall certainly recover. The share is trading at a cosiderable discount to its Book Value Viz.Rs.230.50 and it is the right time to invest in this PSB.
Consequent to the merger of GTB, the provisioning mandated to be spread to 5 years has been completed in 4 years. The PSB has thus cleared its books of accounts of GTB liabilities by 31-03-2008 and saved on corporate tax liabilities for the previous year 2007-08.
This PSB has no exposure to the sub-prime crisis of the USA. The inflation is on the decline and the bank has no liquidity crunch. Under the present circumstances, even if RBI decides to increase CRR, OBC`s cash flow is comfortable. FM has categorically stated that the Indian Banking system is quite safe and isolated from the external factors. However, the slump in the Real Estate and Automobile sales shall certainly affect the credit off-take during next few quarters adversely and the fall in the interest income is expected. Long-term investors with a target of over one year should accumulate this stock at the current rates....

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NSE Announcements on Oriental Bank

Posted by : MMB Messenger
Price when posted : [Oriental Bank - BSE:Rs. 171.90 NSE:Rs. 171.15 when posted]

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Oriental Bank Of Commerce has informed the Exchange that: "As provided in Section 9(3) (i) of the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1980, Oriental Bank is entitled to have three directors representing the shareholders of the Bank, on the Board of the Bank. Accordingly the Bank invited nominations from the shareholders. On the last date viz 13 September, 2008, the bank received nominations from four candidates. After conducting Due Diligence check as per RBI Notification dated 01.11.2007 and after conducting a scrutiny of nominations as per Oriental Bank (Shares and Meetings) Regulations, 1998, the Bank found that the three candidates who had submitted valid nominations are eligible to become directors and accordingly they were elected as directors representing the shareholders of the Bank and deemed to assume office from 16th September 2008. They will hold office for a period of three years from the date of assumption that is till 15th September 2011. The name of the Directors are as follows: (1) Sh. C.K. Sabharwal (2) Sh. T. Valliappan (3) Sh. Umesh Kumar Khaitan"....

BSE Announcements on Oriental Bank

Posted by : MMB Messenger
Price when posted : [Oriental Bank - BSE:Rs. 171.90 NSE:Rs. 171.15 when posted]

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Oriental Bank of Commerce (OBC) has informed BSE that the Bank is entitled to have three directors representing the shareholders of the Bank, on the Board of the Bank.

Accordingly the Bank invited nominations from the shareholders. On the last date viz September 13, 2008, the Bank received nominations from four candidates....

Hold

Posted by : vkk43
Price when posted : BSE: Rs 173.00 ( -4.76 % ), NSE: Rs. 172.95 ( -4.76 % )

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Hold this share at current market rate....

NSE Announcements on Oriental Bank

Posted by : MMB Messenger
Price when posted : [Oriental Bank - BSE:Rs. 181.65 NSE:Rs. 181.60 when posted]

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Oriental Bank Of Commerce has informed the Exchange that "The three Shareholder Directors of the Bank namely Sh. U. K. Khaitan, Sh. C. K. Sabharwal and Dr. Abha Chaturvedi have vacated their offices on 6th September 2008 on completion of their tenure in pursuance of Clause 9 of the Nationalised Banks (Management And Miscellaneous Provisions) Scheme"....