Better supply management and check on hoarding should be able to prevent food price spikes
We have a great team and they are quality people with decades of experience. Everyone would like to retain them, says Hemendra Kothari, Chairman, DSP Merrill Lynch.
Merrill Lynch jumps to first from 7th last year in a smaller market; says its focus is larger deals and clients.
Beleaguered investment banking major Merrill Lynch's losses widened to $5.15 billion for the third quarter ended September 26, 2008, as write-downs to the tune of $9.5 billion took a heavy toll on the bottom line.
BofA Merrill also upgrades its price objectives for private banks, retaining ICICI Bank Ltd as its top pick, and HDFC Bank Ltd and Axis Bank Ltd as its 'preferred' names.
It can be recalled that the market saw a massive 15.9 per cent sell-off in May 2004 after the surprise defeat of the NDA and a 15 per cent sensex rally after the emphatic re-election of the United Progressive Alliance in May 2009.
BofAML said the market impact of the budget has been reducing since most reforms, such as the recent rail fare and freight increase, don't wait for the budget.
UBS Wealth Management Americas, Bank of America's Merrill Lynch and Morgan Stanley all employ several retired Olympic athletes.
According to a research note by Bank of America Merrill Lynch, while foreign institutional investors' holding in Sensex has gone up to the highest level in last eight years, while LIC and domestic MFs were net sellers.
According to the report, the December inflation will likely continue to peak off to 7.3 per cent.
In a repeat of the previous year's results, the US bank came ahead of rivals Goldman Sachs, Deutsche Bank, Bank of America Merrill Lynch and Citi, which all tied for second place, according to industry analytics firm Coalition.
Analysts believe that new companies getting into banking space will look at acquiring old private banks. Following this view, there has been a significant rally in banking stocks.
Banks' loans are set to grow at the slowest pace in a decade this financial year, as companies continue to shy away from borrowing in the current uncertain macro-economic environment.
The price range and size are yet to be determined, according to the term sheet, which also did not specify the timeframe.
Ashishkumar Chauhan says that the exchange is seeking a valuation of about $1 billion.
Bank of America Merrill Lynch, Citigroup, Credit Suisse, Goldman Sachs International, JP Morgan Securities, Morgan Stanley, Nomura and UBS have confirmed their commitment to the FSA Rule and the supporting Code on remuneration practices. These were published in August and would come into force on January 1, 2010 (and cover payments for performance year 2009).
Despite all the negative news, markets may not see a major correction or appreciation from the current levels.
The Treasury has already pledged the first-half of the mega $700-billion bailout package. On Thursday, the Senate passed the request by President George Bush to release the second-half of the rescue plan. The request was made by Bush on behalf of President-elect Barack Obama.
Beleaguered investment bank Merrill Lynch has paid more than $10 million in cash and stock to its eleven top executives last year, says a media report.
Even as most of the 50,000-odd employees at Satyam Computer Services remain concerned about job and pay cuts, 250 to 300 employees working on the Merrill Lynch project have accepted an offer from Bank of America (BofA), the bank that bought the sub-prime meltdown-hit investment bank in September last year.
Earlier, in September the Federal Reserve had given a formal approval to the Bank of America for acquiring troubled financial services firm Merrill Lynch. The US banking giant further said, "The reductions are designed to eliminate redundancies created as a result of the merger with Merrill Lynch and to reflect the current recessionary environment."
According to the global investment banking major, RBI will increasingly switch to supporting growth from exclusively fighting inflation.
BofA-ML global fund manager study says investors 11% underweight on Indian stocks in November, down from about 5% in the previous month.
The American investment bank also upgraded the stocks of both these companies to 'buy' from 'underperform', saying improving industry trends such as signs of ticket price hikes and reduced capacity will improve profitability.
The Finance Minister promised a 0.6 per cent reduction in the fiscal deficit every year to bring the deficit to 3 per cent by 2016-17 without raising tax rates.
These investments will be targeted at petrochemicals, exploration and production and telecom businesses.
According to a research report by Bank of America Merrill Lynch, there has been a sea change in interest in India post the reforms announced last week that included allowing foreign direct investment in multi-brand retail and the civil aviation sector.
A rate cut by the Reserve Bank is likely to help the rupee, which today hit a record low of 57.54 versus dollar, says a Bank of America Merrill Lynch (BofA-ML) report.
The meeting with foreign investors assumes significance as the government is undertaking host of reform initiatives to attract investment.
The ugly underbelly of the policies of economic liberalisation followed over the last two decades has been crony capitalism at its worst.
The rupee on Tuesday fell to a two-month low of 54.78 against the US dollar.
While RBI is likely to cut repo rate by 25 basis points on Wednesday, the government is also expected to push reform initiatives like increasing FDI limit in insurance sector in the Budget session, it added.
Rising risk levels in emerging markets and the recovery of the global market is prompting investors to shift their investments to developed markets.
According to the global investment banking major, the RBI will continue to gradually shift its focus to reviving growth from exclusively fighting inflation since 2010 and is likely to cut rates in June by 25bp, and by 50bp in March 2014 quarter.
The brokerage expects single-digit returns from the Bombay Stock Exchange's Sensex with year-end target of 18,000. The Sensex has fallen almost 8 per cent in the last seven trading sessions because of global liquidity tightening.
Investors more overweight on India compared to other emerging markets says Bank of America Merrill Lynch.
The report further said that confidence is improving, while risk aversion is falling and has upgraded industrial production to neutral from negative.
Fiscal cliff top concern and emerging markets a preferred region for investing, findings suggest.
Inflation is likely to peak at 8.7 per cent by end-March and the Reserve Bank is likely to begin tightening its monetary policy from its January policy review itself, a report by Bank of America Merrill Lynch (BofAML) has said.
Expectes RBI Governor to announce 0.25 per cent rate cut.
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