ICICI Bank Limited (ADR) (IBN)

mrunal007 (< 20) Submitted: 7/09/07 10:05 AM

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its a growth stock...Indian middle class is growing more than china and what do they do with that money? CREDIT CARDS, NEW CARS, HOUSES.

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skunkaroo (< 20) Submitted: 9/06/07 12:44 PM

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China is way, way ahead of India, they don't even consider India as competitor. China's current growth rate is 11-12 percent while India's is 8-9 percent. So anyone who thinks that India is growing faster than China obviously is just talking out of their ass.

Having said that, I am very bullish on on this one. Their track record for the last few year is very good and they seem to be ambitious.

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njmiles03 (< 20) Submitted: 10/05/07 5:50 PM

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It could very well be that China's economy is growing faster than India's, while India's middle class is growing faster than China's; it's all about how the growth is spread amongst the population. Ultimately, the thing to look at is the relative consumer utilization of credit cards, home loans, etc. in each country (and compared to consumer utilization in other EM countries).

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skunkaroo (< 20) Submitted: 10/09/07 1:36 PM

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I think that this Indian middle class thing is really overdone. People always throw around numbers like 300 million, and say that's the same as the population of U.S. How much does an Indian have to make to be in the middle class?
$4000 -$7000. That type of figure would put you way below the poverty line in the US. Even the Chinese middle class which no one talks of makes around $11,000 to $20,000. The Indian middle class would be considered factory worker class in China.

Just look at all the tiny cars the middle class ownes in India. The buicks, volswagons that are so common in China would be considered luxury cars in India

Having said all that I am very bullish on IBN.

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