UTI back to No 1

The period October 11 to November 7 was a good one for the banking sector on the Cirrus Image Index. Cirrus, a corporate image monitor from agencyfaqs! which tracks over 1,100 companies, ranks the top 100 companies in terms of image on the Cirrus 100 listing.

The banking sector performed rather well this past month, with most banks clocking a good second quarter performance. The Union Bank Of India, whose second quarter soared, was the biggest gainer on Cirrus 100 during this period. Additional events that got coverage like the launch of its Lifeguard scheme, and a pact with Standard Chartered ensured that Union Bank gained 13 ranks to reach No 70.

A smart rise in second quarter net profit also boosted HDFC Bank 10 ranks up the ladder (to No 76) and helped IDBI Bank gain eight spots (to No 77). ICICI Bank (up four ranks to No 23), State Bank Of India (up two places to No 22) and Punjab National Bank (gained one rank to No 55) also experienced modest increases on the index.

The exceptions were Citibank and Standard Chartered, both of whom did rather badly on Cirrus 100. Citibank fell six ranks to No 95, while Standard Chartered fared worse, falling 15 ranks to No 94.

Meanwhile, in the never ending battle among the top companies to become No 1 on the Cirrus Image Index, the Unit Trust of India edged Maruti off the top spot. The auto giant fell three places to No 4 while UTI jumped three places to No 1. Infosys Technologies and Reliance Industries sat pretty at No 2 and No 3 respectively.

There were seven new entrants this month on Cirrus 100. LML, Sahara India Media, Jet Airways, Doordarshan, United Breweries, Reliance Infocomm and Asian Paints all made their way into Cirrus 100 during this period. LML in fact, jumped straight in at No 80, reflecting a significant increase in its image points.

Among the other gainers on Cirrus 100 this month were Idea Cellular, ESPN-STAR, SAIL, DaimlerChrysler and TVS Motors while Ford, Pepsi, Nokia, Hewlett Packard and Dr Reddys were amongst those that lost heavily on image points.

To view the Cirrus 100 click here . © 2002 agencyfaqs!

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