Reliance Industries share price climbed almost 2 percent in early trade on December 5 after Goldman Sachs raised the target price of the stock to Rs 1,850.The global financial firm reiterated a buy rating on the stock, raising the target price to Rs 1,850 from Rs 1,635.Goldman Sachs also raised an earnings estimate of the company for FY21 and FY22 and said that the growth and free cash flow are accelerating.Close Foreign brokerage firm CLSA too has a buy recommendation on the stock and raised the target price to Rs 2,010 from Rs 1,710. related news Rate-sensitive stocks trade mixed after RBI keep interest rates unchanged ICICI Bank share price hits record high; analysts say Rs 600 is imminent Lemon Tree share price jump 5% after CLSA recommends a buy CLSA said Jio announced up to 35 percent hike in tariff which still remains at a discount despite a big hike."Despite this hike, Jio is at a 7-20 percent discount to its competition. Tariff hike will boost its EBITDA by … [Read more...] about Reliance Industries share price climbs 2% after foreign brokerages raise target
Nov 2013 calendar
Describing itself as a 'deeply-entrenched domestic bank' in India, global banking giant Citi's Indian arm says it sees a tremendous opportunity for itself from the government's 'Make in India' campaign.Many global multinational clients of Citibank have evinced interest in having a larger footprint in India and to invest more here, which gives it a significant opportunity to participate in the government's Make in India programme, Citi India CEO Pramit Jhaveri said."I believe there is a tremendous opportunity for a bank like ours to contribute meaningfully to the 'Make in India' philosophy as articulated by Prime Minister Narendra Modi," Jhaveri told PTI in an interview here.Close "Many of our global multinational clients, from around 50 countries, are our clients in India. India is now amongst the most strategically important markets for these clients, which was clearly not the case 6-7 years ago and this is a major change. related news Dharmendra Pradhan hopes coming Budget … [Read more...] about Citi a ‘deeply-entrenched domestic bank’ in India: CEO
It's the start of FY20 and complications in massive debt resolution plans after the Supreme Court scrapped the central bank's circular out of the blue, and a lack of liquidity guidance from the policy review ahead of elections have thrown lenders into a tizzy. If this is a preview of things to come in future, banks are set for a roller-coaster ride this year.As for customers, the wait for lower monthly loan installments just got longer while big ticket mergers in the banking space may need some adjustments on their part as well.Lenders to Jet Airways invite bids for stake saleClose The State Bank of India (SBI)-led consortium, on April 6, invited Expression of Interest (EoI) from prospective parties for acquiring a majority shareholding in the debt-burdened Jet Airways. related news Won't hesitate to prevent collapse of any large NBFC, says RBI's Shaktikanta Das Why RBI's status quo was in the offing Top 5 reasons why Sensex fell after RBI leaves rates unchanged The window … [Read more...] about Banking sector weekly wrap: Jet Airways on sale; RBI’s woes over stressed assets and big ticket bank mergers
SBI Capital Markets is said to have shortlisted four prospective bidders for the stake sale in Jet Airways as a part of the debt resolution process. These include TPG Capital, Indigo Partners, Etihad Airways and NIIF. The qualified bidders are expected to submit their binding bids latest by May 10. It is a crucial process for Jet Airways that is battling a number of issues on multiple fronts to stay operational.Here's a quick look at the bidders that are hoping to revive the troubled airline:TPG CapitalThe 27-year-old US-based private equity firm has investments in a wide range of sectors from industrials and financial services to healthcare, technology and real estate. Interestingly, it's first ever major investment was in then-bankrupt Continental Airlines in 1993. The Texas-headquartered airline, in 2013, merged into United Airlines. In 1994, the PE firm created an Asia-dedicated fund-TPG Capital Asia, which is now being led by Puneet Bhatia in India. The firm marked its presence in … [Read more...] about Jet Airways stake sale: Who are the bidders?
Cadila Healthcare on December 5 said it has filed the New Drug Application (NDA) of Saroglitazar Mg with the Drug Controller General of India (DCGI)."Saroglitazar Magnesium was launched in India in September 2013, for the treatment of hypertriglyceridemia and diabetic dyslipidemia in patients with type-2 diabetes not controlled by statins," the company said in an exchange filing.If the latest NDA is approved, Saroglitazar Mg could become the first medicine indicated for the treatment of Non-alcoholic Steatohepatitis (NASH).Close NASH is a progressive disease of the liver and a significant unmet medical need. It involves liver inflammation and damage caused by a build-up of fat in the liver. related news Govt approves allocation of 5 coal blocks, to generate Rs 17,136 cr revenue CIC issues show-cause notice to RBI for casual approach to its notice Japan government approves economic stimulus package to combat overseas risks Currently, there is no treatment available for … [Read more...] about Cadila Healthcare files NDA with DCGI for liver disease drug Saroglitazar Mg