Banking
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Reliance MF cuts exposure to engg, metal, const sectors
Reliance Mutual Fund has reduced exposure to Engineering Capital Goods, Metals Mining and Cement Construction sectors while has increased to Banking Financial Services, Pharmaceuticals and Utilities sectors.
BoA-Merrill merger wins shareholder OK
Shareholders on Friday approved Bank of America Corp’s takeover of Merrill, a transaction fraught with risk but one that will create a banking gint.
Citi sells German retail banking biz
Troubled banking giant Citigroup on Friday said it has completed the sale of its German retail banking business to European banking group Credit Mutuel-CIC for euro 5.2 billion ($ 6.6 billion) in an all cash deal.
Mkts weak; rate sensitives gain on rate cut hopes
The bulls tried to pull the markets back into the green but failed. Both indices are still trading weak, amid volatility. Selling continues in technology, capital goods, power, metal, and FMCG stocks. Reliance Industries and Bharti Airtel are also seeing major cuts. However, banking, cement, realty, auto stocks are supporting the markets.
Julius Baer CEO dies unexpectedly
Alex Widmer, the chief executive of Bank Julius Baer and a well respected figure in Swiss private banking, has died unexpectedly at the age of 52
Nifty hovering around 2800; cap goods, power, banks gain
The benchmark indices are trading higher with some volatility. Buying is seen in banking, telecom, realty, capital goods, and power stocks. However, selling continues in technology and FMCG stocks. Oil stocks are up, but are a bit volatile. Midcap and smallcap stocks are on buyers\’ radar.
Falling crude price to add pressure on RIL, Cairn
Flows at FII desk was banking driven and permission based buying was seen in SBI and OBC. Falling crude price will add pressure on stocks like RIL and Cairn, as Merrill Lynch cut target by 15% for RIL.
Yamaha to roll out scooter next year
Yamaha Motor India Sales Private Ltd plans to launch its first scooter next year. Since inception, the company was banking only on motorcycles despite the fact that gearless scooters account for about 15 per cent of twowheelers sold in India.
Award for YES Bank
YES Bank has been recognized as the ‘Most Innovative Bank in India’ at the New Economy First Annual Banking and Finance Awards 2008. The awards function was held in London.The bank’s Managing Director and CEO, Mr Rana
Yamaha to roll out scooter next year
Chennai, Dec 4 Yamaha Motor India Sales Private Ltd plans to launch its first scooter next year. Since inception, the company was banking only on motorcycles despite the fact that gearless scooters account for about 15 per cent of two-wheelers