Printer Friendly

Zacks.com Announces That Vivian Lewis Highlights The Following Stock: ICICI.

CHICAGO -- Vivian Lewis discusses a potentially significant economic event for India's rupee. Discover how this may impact ICICI (NYSE:IBN). Vivian Lewis is the editor of the Global Investing newsletter. Click here for the full story exclusively on Zacks.com: http://at.zacks.com/?id=84

Highlights from the April 10 Featured Expert column by Vivian Lewis include:

ICICI shining

Reserve Bank of India, its central bank, will get by end-July a comprehensive framework, including timing, for "fuller" rupee capital convertibility. This could be the most significant economic event since liberalization began in 1991. A similar commission was set up in 1997 but abandoned plans for convertibility in 2000, after the 1997-98 Asian financial crisis. It opted instead to take small, calibrated steps to ease restrictions on currency movements while preserving exchange controls.

If accompanied by easing of rules limiting foreign bank investments in Indian banks to 5%, the reform could hurt ICICI (NYSE: IBN) by increasing competition. However, a greater volume of capital flows would probably help its bottom line. Fear of the unknown has hurt the share.

The rupee cannot currently be converted freely on the capital account to acquire assets overseas like shares or real estate. Prior approval is required to move capital outside India. The limit for overseas corporate borrowings for 2006-7 was set at $15 billion, up 25% from 2005-6. Full convertibility would give companies more access to foreign debt markets and cut delays in forex trades, enhance foreign private investor access to Indian capital markets, and could allow foreign banks to buy more than 5% of Indian banks, the current ceiling.

The rupee today is only convertible for specific current account purposes like trade related expenses, corporate interest payments on overseas debt, and business travel. Also, firms may invest overseas an amount equal to their net worth. Individuals can invest up to $25,000 per year in overseas securities.

Read Vivian Lewis' complete commentary on the stock above and check out other stocks by clicking: http://at.zacks.com/?id=85

About Zacks Featured Experts

Successful investing requires professional advice from knowledgeable experts who can help investors achieve their financial goals in good markets and improve their portfolios, especially in bad ones. That is why Zacks Investment Research has assembled the best investment experts in the business to offer their powerful advisory newsletters on all the major investment topics: Stocks, Mutual Funds, Bonds, Options, Futures etc.

Additional recommendations from Zacks.com Featured Experts are highlighted in the free investment newsletter, Profit from the Pros. Each issue highlights several Featured Experts in this free e-mail newsletter. Register for a free subscription to "Profit from the Pros" at: http://at.zacks.com/?id=86

About Zacks

Zacks.com is a property of Zacks Investment Research, Inc., which was formed in 1978 by Leonard Zacks. As a PhD in mathematics Len knew he could find patterns in stock market data that would lead to superior investment results. Amongst his many accomplishments was the formation of his proprietary stock picking system; the Zacks Rank, which continues to outperform the market by nearly a 3 to 1 margin. The best way to unlock the profitable stock recommendations and market insights of Zacks Investment Research is through our free daily email newsletter; Profit from the Pros. In short, it's your steady flow of Profitable ideas GUARANTEED to be worth your time! Register for your free subscription to Profit from the Pros at http://at.zacks.com/?id=87

Zacks Investment Research is under common control with affiliated entities (including a broker-dealer and an investment adviser), which may engage in transactions involving the foregoing securities for the clients of such affiliates.

Disclaimer: Past performance does not guarantee future results. Investors should always research companies and securities before making any investments. Nothing herein should be construed as an offer or solicitation to buy or sell any security.
COPYRIGHT 2006 Business Wire
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2006, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

Article Details
Printer friendly Cite/link Email Feedback
Publication:Business Wire
Date:Apr 27, 2006
Words:645
Previous Article:Advanced Cell Technology Announces Collaboration with Xgene Corporation to Assess Its Dermal Cell Technologies in Human Skin Models.
Next Article:SGI Chosen as Top Ten Independent Global Distributor.
Topics:


Related Articles
Global Investing.
Zacks.com Announces That Vivian Lewis Highlights the Following Stocks: Suez, Norsk, Amdocs, Magic Software, and Novogen.
Zacks.com announces that Vivian Lewis highlights the following stocks: Sanofi, Yara, Cia. Vale do Rio Doce, and ICICI Bank.
Zacks.com Announces That Vivian Lewis Highlights the Following Stocks: ICICI, Companhia Vale do Rio Doce and Teva Pharmaceutical Industries.
Zacks.com Announces That Vivian Lewis Highlights the Following Stocks: Sanofi, Teva, Schlumberger Limited, Norsk Hydro and Banco De Chile.
Zacks.com Announces That Vivian Lewis Highlights the Following Stocks: Teva, Companhia Vale do Rio Doce, Tenaris, ICICI and SGL.
Zacks.com announces that Gregory Spear highlights the following stocks: Apple and Google.
Zacks.com announces that Richard Moroney highlights the following stocks: Disney, Gannett and Intel.
Zacks.com Announces That Vivian Lewis Highlights the Following Stocks: Companhia Vale do Rio Doce, Tenaris, ICICI, Naspers and Orix.
Zacks.com Announces That Vivian Lewis Highlights the Following Stock: Bancolombia.

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters