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Oriental Bank of Commerce (OBC) posted a net loss of Rs 99.44 crore for the quarter ended March 31, 2008 as compared to profit of Rs 54.86 crore shown during the same quarter in 2007. Total revenue, however, has increased to Rs 2,071.01 crore for the quarter from Rs 1,577.29 crore in the year ago period. For the year ended March 2008, the bank made a net profit of Rs 353.22 crore as compared to Rs 580.81 crore in previous fiscal. Total revenue has increased to Rs 7,454.84 crore from Rs 5,652.91 crore during last year.

BoB net up 52% to Rs 501 cr (Business Standard 31th June 2008) Bank of Baroda has posted a 52.2 per cent growth in net profit for the third quarter ended December 2007 at Rs 501.5 crore on jump in income from sale of investments including equity, recoveries from written-off accounts, commissions and interest income. Total income during the quarter rose to Rs 3,620.18 crore from Rs 2,668.11 crore in the year-ago period. Interest income rose by 28.60 per cent to Rs 3002.19 crore. Interest expenditure was up by 40.6 per cent to Rs 2,004.72 crore. During the December quarter, the net interest income rose by 9.8 per cent to Rs 997.47 crore from Rs 908.21 crore. More Costly bulk deposits drag down OBC profit by 24% (Business Standard 31th June 2008) Hit by high cost deposits, Oriental Bank of Commerce’s (OBC) net profit dipped by 24 per cent to Rs 138 crore for the third quarter ended December 31, 2007, compared with Rs 182 crore in the same quarter of the previous financial year. “The dip...

Pick these stocks this Jan: Modern Shares (Source CNBC-TV18, Moneycontrol.com 3rd Jan 2008)Speaking to CNBC-TV18, Anil Manghnani of Modern Shares & Stock Brokers said that 6,200 on the Nifty and 20,500 on the Sensex have been a little bit of barrier levels. “I think if we can start trading above that on a consistent basis, then the next logical target for both the Sensex and the Nifty would be about 21,200 on the Sensex and about 6,465 on the Nifty,” he said.His colleague, Neppolian Pillai is optimistic about Oriental Bank of Commerce. “I feel if you can buy this stock anywhere from Rs 305 to roughly about Rs 270, you should get a price back upto around Rs 363-380. Modern Shares View SECTORAL INDICES BSE Target Support Auto 5991-6299 5368-5557 Healthcare 4493-5225 4020-4182 IT 4571-4637 4199-4365 Metal 20640-20787 18743-19323 Oil 14090-14258 12107-12613 FMC...

3 PSU banks mull rights issue (Business Standard 11th Dec 2007)Union Bank of India, Dena Bank, Oriental Bank of Commerce, the state-run lenders with the government stake below 55 per cent, will be considering rights issues to raise capital for meeting the Basel-II norms and support business growth. The government has given clearance for State Bank of India’s (SBI) proposed Rs 17,000 crore rights issue by agreeing to invest Rs 10,000 crore to maintain its stake at the current level of 59.73 per cent.