Barclays said Indian equities have had a strong first half.
Technically, USD/INR remains well below its 200-day moving average after first breaching that trend level on Thursday for the first time since May 2013, adding to the optimism on the rupee.
This has been a season for corporate scandal.
It believes that RBI will continue with liquidity infusion through CRR cuts and open market operations. Rate cut may happen only in January
In its report 'Global Top Picks', Barclays expects the current bull market in global equities to continue, generating a total return of 9 per cent in 2015.
Bouyed by Indian growth trajectories, Barclays plc on Tuesday said it would infuse $70 million in the country for a period of two years from 2006 to foray into the corporate banking business.
Barclays Finance, the non-banking finance arm of Barclays Corporate in India, plans to close the majority of its branches here, as part of the lender's plan to scale down retail operations in the country.
This comes within two months of China announcing an investment of $3 billion from its trillion-dollar forex kitty for a 10 per cent stake in the US-based global private equity giant Blackstone.
Barclays Plc, UK's third-largest bank by assets, plans to enter the emerging credit card market in India.
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According to the research note, the jump in volatility following the tightening of liquidity by the RBI on July 15 is likely to move lower and current levels could prove an attractive entry point into the market.
Standard Chartered Bank appears to lead the race to acquire Barclays Bank's credit card business in India, six months after the British lender decided to sell it, three people familiar with the development said.
The brokerage firm cautioned that there is a possibility of further downside risks to growth, especially in the near term as RBI's policy interest rate cuts in recent months has not been translated into reduction in bank lending rates.
According to sources familiar with the developments, Barclays may review several options, including the sale of its credit card operations in India.
The average wholesale price inflation for FY14 will come at 5.3 per cent, while the consumer price inflation will average under 9 per cent, which would be a five-year low, the brokerage said.
The British banking major would pay penalties of 290 million pounds as part of settlement agreement with the UK's Financial Services Authority and the US Department of Justice.
Adani Green Energy Ltd, the renewable energy arm of billionaire Gautam Adani's conglomerate, plans to raise $409 million through US dollar-denominated bonds to repay a debt obligation falling this year. In a regulatory filing, the company said the bond will have a door-to-door tenor of 18 years. The proceeds will be used to redeem the $500 million 6.25 per cent senior secured notes due 2024, it said adding these notes were issued on June 10, 2019.
In the world's biggest-ever financial services takeover, the United Kingdom's third largest bank Barclays will buy out Dutch rival ABN Amro Holding for $91 billion (Euro 67 billion), creating the world's fifth largest bank.
Stating that the current economic scenario is similar to 1991-92 crisis, foreign brokerage Barclays said credit growth of banks will slow down to 10-11 percent levels.
RBI Governor Subbarao has recently indicated that it cannot ignore inflationary signals.
Kotak Mahindra Bank has acquired the non-performing portfolio of Barclays Bank's credit card business in India. The deal, experts said, gives momentum to the sale of stressed loan market in the country which has been having a dry run following stringent regulatory norms introduced in 2007.
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Steps announced by new RBI Governor Raghuram Rajan could attract $10 billion of forex inflows in the next three months and this could be a material near-term positive for the rupee, which has lost 20 per cent since January, the London-based banking and financial services company said.
The Hinduja group is learnt to be looking at alternative means of financing, including private credit, to fund its Rs 9,661 crore all-cash offer to acquire Reliance Capital. The regulator, Insurance Regulatory & Development Authority of India (Irdai), had earlier rejected the collateral offered by the group to raise funds. The Hinduja group was in talks with Barclays, JPMorgan, Cerberus Capital Management and Apollo Global Management to raise up to $850 million.
Barclays' assessment of 35 major cities on various socio-economic parameters suggests that mass transit rail systems should be a high priority in 12 cities with bus rapid transit systems acting as feeder services.
Despite the possibility of the economy bottoming out, the investment cycle could remain weak for another couple of years and earnings downgrades should continue.
British bank Barclays Plc could jump into the league of top three foreign banks in India from 13 at present if it succeeds in merging its Dutch rival ABN Amro with itself in a deal that could create a combined entity worth $160 billion.
Financial services major Barclays Plc on Tuesday posted a robust profit of 6.87 billion pounds ($10.77 billion) for the three months ended December 31, 2009, driven by the sale of its Global Investors unit.
The total number of staff to be cut has not been finalised but could be as high as 90 people, the sources said, declining to be identified because the matter is confidential.
According to sources familiar with the developments, the bank may sell more than Rs 3,000-crore (Rs 30-billion) worth of retail assets in India comprising mortgage loans, personal loans and loans to small businesses.
Reserve Bank of India (RBI) Governor Shaktikanta Das had stumped the market in the previous two policies - in August and in October - first with action and then with words. In August, it was the introduction of an incremental cash reserve ratio (I-CRR) to take out excess liquidity, which took the markets by surprise. In October, there was no action. Rather, what is known as "open mouth operation", Das' comment that the central bank might conduct open market operations (OMOs) by selling bonds tempered the euphoria in the bond markets after JP Morgan's inclusion of India in its Emerging Market Bond Index.
Seeks to cut 1.7 billion pounds in annual costs and improve standards.
PCB chairman Najam Sethi has informed ICC that Pakistan will not play at the Narendra Modi Stadium unless it's a WC knockout game.
The US owners of Premier British League Football team Liverpool are looking to sell the club and have appointed Barclays Capital to find a buyer, a source familiar with the matter said on Sunday. American businessmen Tom Hicks and George Gillett are facing a demand to repay 100 million pounds ($153 million) of the club's 237 million pounds debt to its lenders, Royal Bank of Scotland and US bank Wachovia, in July.
Housing Development Finance Corporation Ltd has sold its 50 per cent stake in Intelenet Global Services Ltd, a business process outsourcing company, to Barclays Bank Plc for Rs 164 crore (Rs 1.64 billion).
The deal, which will be signed this week, will see Standard Chartered Bank adding 170,000 cards to its existing portfolio of 1.1 million cards. The foreign lender will also become the fifth largest card issuer in the country after HDFC Bank, ICICI Bank, Citibank and State Bank of India.
Standard Chartered's India strategy will focus on wealth management while credit card will remain core to its business though will avoid competition with the country's private banks, said a senior executive of the British lender. "Our focus on wealth management and affluent clients are central to our existence. "We are strong in these areas and we want to grow in these areas.
The general elections in April/May 2024 are expected to add volatility to the Indian markets, keeping investors on their toes.
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