UBS stepping in to save Credit Suisse with a $3.2-billion acquisition has provided the beleaguered Swiss bank's India employees a glimmer of hope. The surprise deal - engineered by the Swiss government - has triggered optimism of fewer job losses at Credit Suisse's India unit and better synergies at key verticals, such as wealth management and investment banking. "UBS is a much stronger hand. Coming within its fold will give Credit Suisse's wealth management and investment banking divisions a good home.
The Sensex is likely to rule between 13,200 and 14,400 points and the rupee may touch Rs 54-55 by June next, Credit Suisse India has said in a report.
These unicorns, or startups valued at over USD 1 billion, are across industries, beyond technology and tech-enabled sectors as well, like pharmaceuticals, and consumer goods, Credit Suisse India equity strategist Neelkanth Mishra told reporters in Mumbai.
Leading global brokerage Credit Suisse India said the Sensex, which is now trading at 15 per cent premium over the 2009 levels, will add another nine per cent in 2011.
As per financial service major Credit Suisse's India market strategy report, a host of companies, including Aditya Bira Nuvo, Bajaj Hindusthan, Adani Power, are planning to tap the capital markets in the coming months through various routes, including private placement and preferential allotments. The report advised investors, who are confident of the political outcome and global rally, to pick from the list of companies about to finish funding.
The total household wealth in India during this period rose 1.7 per cent to $246 billion.
Such businesses outperform non-family firms by 3% in first six months of CY20, says Credit Suisse report.
Experts say the market is more bullish on the BJP as it will ensure continuity in policymaking.
The next key battle the market will watch out for will be in Congress-ruled Karnataka
India's banks are propping up too many weak producers.
'While GST and demonetisation are likely to cause disruption for longer than the market currently expects, they can have meaningful positive impact over the medium-term.'
Optimism about a stable govt at the Centre, a demand revival and falling oil prices buoyed the markets.
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