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Tuesday, September 22, 2009

HDFC a good bet, says K Ramchandran

Ramchandran told CNBC-TV18, "The banking sector has had its run and perhaps we are at the very fag end of that run, so any stock at this point to enter would be with froth with risk but having said that I would throw my lot with some other financial sector but not exactly bank. Something like Housing Development Finance Corporation, HDFC, which has not really participated so much and it is still somewhat below the all time highs, so therefore HDFC could be a good bet and it has done very well today. But I think it is something, which will hold even in a falling market.

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Economic Event Calendar

GMT+5:30 Event Vol. Actual Consensus Previous
Wednesday, Jun 11
18:00 Consumer Price Index ex Food & Energy (MoM) 3 0.1% 0.3% 0.2%
18:00 Building Permits (MoM) 1 -6.6% 2.2% -5.3% Revised from -4.1%
20:00 EIA Crude Oil Stocks Change 1 -3.644M 0.100M -4.304M
22:30 10-Year Note Auction 1 4.421% 4.342%
23:30 Monthly Budget Statement 2 $-316B $-325B $258B
Thursday, Jun 12
04:15 Electronic Card Retail Sales (YoY) 1 -0.3% -0.3%
04:15 Electronic Card Retail Sales (MoM) 1 0%
04:31 RICS Housing Price Balance 1 -3% -3%
06:30 Consumer Inflation Expectations 2 4.1%
11:30 Industrial Production (MoM) 2 -0.5% -0.7%
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