The rise in the toasted category of high networth individuals in the country is getting affected in the 'high inflation, slow growth' scenario being witnessed at present, a top official of Merrill Lynch Wealth Management said in Mumbai on Thursday.
ICICI Pru's IPO is being managed by 10 investment banks, including Bank of America Merrill Lynch and ICICI Securities
These investments will be targeted at petrochemicals, exploration and production and telecom businesses.
Fiscal cliff top concern and emerging markets a preferred region for investing, findings suggest.
The rupee on Tuesday fell to a two-month low of 54.78 against the US dollar.
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.
According to a research report by Bank of America Merrill Lynch, despite better rains the growth forecast for this fiscal is likely to be around 5.6 per cent.
According to BofA-ML, the rupee volatility raises near term risk to inflation and to a rate cut this month.
DSP Merrill Lynch Ltd said Caterpillar Commercial SA along with its holding company Caterpillar Inc offered to acquire up to 19,779, 914 shares, or 62.25% of the paid up equity share capital, of Hindustan Powerplus Ltd.
Foreign institutional investors have offloaded shares worth nearly Rs 3,000 crore (Rs 30 billion) in 23 Indian companies, such as mortgage lender HDFC and Bombay Dyeing, among others, so far in 2011.
According to the financial services major, FY13 Sensex EPS has been downgraded from Rs 1,510 to Rs 1,175, and FY14 Sensex EPS is likely to be downgraded to below Rs 1,300.
Goldman cut India's growth estimates to 6.6 per cent from 7.2 per cent for the fiscal year ending March 2013, while BofA revised its forecast to 6.5 per cent from 6.8 per cent.
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.
Expectes RBI Governor to announce 0.25 per cent rate cut.
However, the American brokerage said it continues to expect the Reserve Bank to cut policy rates by 25 bps on January 29.
The report also said that the domestic currency was likely to trade weak in the near future.
Rising risk levels in emerging markets and the recovery of the global market is prompting investors to shift their investments to developed markets.
A deal with Gamesa seen valuing firm at $3 billion.
The number of dollar-millionaires in India surged to a record high of 1.53 lakh (153,000) in 2010, making the country's high net worth individual (HNI) population 12th largest across the globe, as per a global study.
According to BofA-ML, lead indicators still point to six months of pain and it is not until the March quarter that growth is expected to recover to 6.5 per cent levels.
Home prices in Mumbai are headed for a sharp correction, while others may remain stagnant due to rising unsold stock, says a report from Bank of India Merrill Lynch.
After the crunch period of 2009, the private banking industry, which caters to high net worth individuals, is once again in growth mode.
Global financial majors, who until recently viewed India as a safe investment decision, are having second thoughts.
The investment banking major has hiked its FY'14 CAD forecast to 4.3 per cent of GDP from 3.8 per cent with slowing global recovery likely to delay export turnaround.
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).
Value deals are available at Rs 2-10 lakh, giving investors an opportunity to make some good buys.
Among the Gulf countries, only the UAE saw a slump in its millionaires' club, a decline attributed to the collapse of Dubai's real estate market, which eroded house prices by more than 60 per cent.
With the financial turmoil ravaging economies globally, four out of five investors feel the world will continue to be gripped by recession over the coming year, despite the injection of billions of dollars by various governments, says a survey.
DE Shaw, a global private equity (PE) and hedge fund company, is close to acquiring a 14.2 per cent stake in New Delhi Television (NDTV) for Rs 70 crore (Rs 700 million).
With private consumption growing 3.6 per cent versus 18.1 per cent for government in April-September 2009, and investment growth falling to around half, any decision on phasing out has to be taken carefully.
Attorney general Andrew M Cuomo has also sued BofA's former CFO Joseph L Price. "Bank of America's management intentionally failed to disclose massive losses at Merrill so that shareholders would vote to approve the merger.
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.
According to global financial service provider Merrill Lynch's survey of fund managers for November, investors have remained heavily overweight on the emerging market equities and continue to favour the global technology, energy, materials and industrial sectors.
Fraud-hit IT outsourcing company Satyam Computer Services Limited (rebranded as Mahindra Satyam) is getting itself back on track, and inching closer towards acquiring the multi-million multi-year contracts it lost from Telstra and Merrill Lynch, according to a source close to the development.
Days before B Ramalinga Raju admitted to fraud, a handful of financial services companies, including DSP Merrill Lynch, IL&FS Financial Services and Deutsche Bank's non-banking finance company, sold Satyam Computer Services shares pledged with them.
A net 75 per cent of the fund managers surveyed in August across the globe believe the world economy would strengthen in the coming 12 months -- the highest reading since November 2003. The reading has significantly increased from 63 per cent in July, the report said. The August survey revealed that investors were matching their sentiment with action, by investing in equity market.
Emerging Asia - China, India, Indonesia and Thailand - is fast becoming the main engine of growth in the Asia-Pacific region.
Hemendra Kothari, the former chairman of DSP Merrill Lynch, is set to acquire Ambuja Cements' stake in ING Vysya Life Insurance for around Rs 190 crore.
Reliance Industries is expected to report a 24 per cent drop in its net profit for the June 2012 quarter as compared to its profit in June 2011.
It's one Forbes list where none would want to figure, but Ramalinga Raju, founder-chairman Satyam Computers (now Mahindra Satyam), has managed the feat of being among the world's 10 most outrageous CEOs.
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