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Helping Indian Industrialists, Mr. Prime Minister
Posted by :
sambalaPrice when posted : BSE: Rs 160.05 ( 1.27 % ), NSE: Rs. 159.70 ( 1.59 % )
Tracked by: 0 Boarder
Citi shows door to 37 senior execs
MUMBAI: Citigroup is giving sleepless nights to its employees. A day after the US bank said that its worldwide job cuts would have little impact here, Citi India has sacked around 37 officials, mostly senior executives.
Once regarded as the smartest player in retail banking, Citi has handed pink slips to a string of veterans in the retail team. Investment bank, treasury and global transaction business are some of the other divisions where people have been asked to go.
The bank has given a three-month notice and a month’s salary for every completed year of service as compensation to these employees. It’s happening at a time when Citi India chief Sanjay Nayar has quit to join the private equity firm KKR, and Mark Robinson, an expat, is stepping into his shoes.
But these job losses could look insignificant compared to a possible shakeout that could be in store. According to the US media, the bank is looking at options, including selling parts of the company or a merger with another firm, after its stock fell 50% this week.
According to Mr Nayar, who is the CEO for Citi South Asia, the number would still be “minimal for India”. “The number of people who will be laid off for poor performance would be lower than last year’s. We are also hiring around 45 students from IIMs and other institutes this year,” he said.
However, what has rattled Citi India officials is the exit of senior officials, particularly in retail banking. “Many of them are in the rank of vice-presidents and above,” said an official.
It’s learnt that another 25 officials would be asked to leave in the next quarter. Also, Citi Financial, the group’s non-banking finance arm in India, may go for a downsizing exercise in the coming months. The subsidiary has pruned its workforce by 600 so far this year.
Some of the other MNC banks planning to trim their India operations are Morgan Stanley and Barclays. Morgan laid off more than 10 people in India in the past few days and is believed to have shut down its structured finance business here.
“The firm is resizing its cost base and headcount to match current opportunities in the marketplace,” said a Morgan Stanley spokesperson.
Barclays has put on hold roll out of auto loans business. Its personal loan disbursements have dipped from a peak of Rs 400 crore a month to a little over Rs 100 crore.
Barclays GRCB MD (India & Indian Ocean) Samir Bhatia said: “We would like to highlight that Barclays GRCB piloted a small project on auto loans, but has chosen not to explore this segment currently. Also, we have tightened our criteria on our credit card business as per the current market conditions.”
...
In reply to:
Helping Indian Industrialists, Mr. Prime Minister
Posted by : sambala
Citigroup chief blames rumours for stock slide
Vikram Pandit, Citigroup’s chief executive, today blamed the bank’s plunging share price on "rumour mongering" and reiterated that its capital position is "very strong".
However, he failed to halt the stock’s decline amid the growing expectation of a government bailout that would dilute investors’ ownership.
Helping Indian Industrialists, Mr. Prime Minister
Posted by : sambalaPrice when posted : BSE: Rs 160.05 ( 1.27 % ), NSE: Rs. 159.70 ( 1.59 % )
Tracked by: 0 Boarder
Citigroup chief blames rumours for stock slide
Vikram Pandit, Citigroup’s chief executive, today blamed the bank’s plunging share price on "rumour mongering" and reiterated that its capital position is "very strong".
However, he failed to halt the stock’s decline amid the growing expectation of a government bailout that would dilute investors’ ownership.
...
In reply to:
Helping Indian Industrialists, Mr. Prime Minister
Posted by : sambala
Citigroup Inc
52 Week High: 35.290
(12/11/2007)
52 Week Low: 3.050
(11/21/2008)
Citigroup says commercial real estate bigger issue now for banks
(Reuters) - Commercial real estate is becoming a bigger issue for U.S. banks after the Treasury decided that funds under the Troubled Asset Relief Program will not be used to buy troubled assets, Citigroup said.
Banks experiencing the highest delinquency/nonaccrual loan levels are Fifth Third Bancorp, Huntington Bancshares, National City, and Regions Financial, analyst Keith Horowitz wrote in a note to clients.
"Despite weakening fundamentals, we believe lack of major commercial real estate over supply, as seen in the late `80s and early `90`s will help prevent the current credit cycle from being as severe as then," Horowitz, however, said.
Horowitz also said though lack of commercial mortgage backed securities issuance puts pressures on the banks, he does not see the size of CMBS maturing as unmanageable.
Helping Indian Industrialists, Mr. Prime Minister
Posted by : sambalaPrice when posted : BSE: Rs 160.05 ( 1.27 % ), NSE: Rs. 159.70 ( 1.59 % )
Tracked by: 0 Boarder
Citigroup Inc
52 Week High: 35.290
(12/11/2007)
52 Week Low: 3.050
(11/21/2008)
Citigroup says commercial real estate bigger issue now for banks
(Reuters) - Commercial real estate is becoming a bigger issue for U.S. banks after the Treasury decided that funds under the Troubled Asset Relief Program will not be used to buy troubled assets, Citigroup said.
Banks experiencing the highest delinquency/nonaccrual loan levels are Fifth Third Bancorp, Huntington Bancshares, National City, and Regions Financial, analyst Keith Horowitz wrote in a note to clients.
"Despite weakening fundamentals, we believe lack of major commercial real estate over supply, as seen in the late `80s and early `90`s will help prevent the current credit cycle from being as severe as then," Horowitz, however, said.
Horowitz also said though lack of commercial mortgage backed securities issuance puts pressures on the banks, he does not see the size of CMBS maturing as unmanageable.
...
In reply to:
Helping Indian Industrialists, Mr. Prime Minister
Posted by : sambala
Nationalisation helped us weather meltdown: Sonia
Congress president Sonia Gandhi took a potshot at those who had mocked Indira Gandhi’s decision to nationalise banks in 1969. She said that the late prime minister’s prudence and wisdom in doing so has now saved the country`s banking system from the adverse effects of global meltdown.
``If you allow me the liberty of showing what is to you the proverbial ``red flag to the bull’’, Let me take you back to Indira Gandhi’s much reviled bank nationalization of 40 years ago. Every passing day bears out the wisdom of that decision. Public sector financial institutions have given our economy the stability and resilience we are now witnessing in the face of the economic slowdown,’’ she told the Hindustan Times Leadership Summit on Friday.
Speaking on the subject of ``Ambitions for a New Century’’ Sonia underlined this would have to await awhile as the country grapples with the latest crisis to come upon it after zooming oil prices and proliferating food shortages.
``While nationalizing banks, Indira Gandhi had said that the banking system only benefits a select few and not the common man. This went against the concept of a welfare state.’’ recalled veteran Congressman Bishm Narain Singh who later joined her cabinet. He added that her decision stands vindicated today with the UK opting for bank nationalization.
Even as in her speech, Gandhi virtually unveiled her party’s Lok Sabha manifesto with her emphasis on protecting vulnerable sections through ``collaborative partnership’’ of sectors, peoples and institutions, by referring to Indira Gandhi’s vision she also sought to counter the Left`s claim of saving the country’s banking system by blocking the UPA’s banking reforms. Gandhi however did not name the Communists or the BJP. Nor did Prime Minister Manmohan Singh whose denunciation earlier of ``competitive’’ politics, ``divisive’’ agenda and ``extremist’’ ideologies left little doubt who he was alluding to.
Providing the party`s foil to the government’s perspective, Gandhi focussed on best to mitigate the effects of the latest crisis. She ruled out a return to the era of controls but maintained that things also cannot be allowed to spin out of control. Her prognosis: liberalization will continue but it will be tempered by sensible--and not heavy handed regulation---to ensure social justice and protect the vulnerable who are victims of the crisis through no fault of theirs.
``Collaboration is imperative because we are all in this together,’’ she said, referring to the problems of small enterprises and unorganized labour looking for a safety net. She also wanted public systems to be ``more efficient and responsive’’ while focusing on the Congress’s pro-poor commitment reflected in initiatives like the rural employment guarantee and mid day meal schemes.
Gandhi’s ill-health may have allowed her to only make a speech---and not take questions this time--but it did not douse her sense of humour.
``Let us surprise Professor Amartya Sen by giving up our favourite trait of being ` unendingly argumentative’ and for a change, let us be ``effectively collaborative,’’ she said as the audience of prominent personalities cheered.
Tracked by: 0 Boarder
spqu123,waw what an analysis?
my dear friend,ppl may skip food but not the mdicine but in medical parlence,winter is considered a healthy season
Apart,as for as the promoters are concerned,they have cheated the investors n will be doing so under the cover of this co
whats the object of the co?trading in their own shares or bujlding the health of the co?They are using cos funds to accumulate the shares n sell high
such promoters should be exposed n brought to the books....
In reply to:
spgu123
you will definitely see that in the next quarter the results are in profit. & even market fell badly it is around 9 RS. - 10 Rs. & promoters are known that this is the right time to buy because they sell it step by step at 29 Rs., 18 Rs., 14 rs. Now the stock is very much below the book value. Now there is selling volume is very low & promoters are accumulating stock. again till next two quarter the stock will move to 35 Rs. & they again sell it this stock & brings around at Rs. 20. they will get around 6 times return on invested amount. Now there is no healthy season as peoples are become savers. as no money in hand to expense the quality of foods. & in such scenario the spending on medical will get increase. so buy this stock now. buy... buy... buy.
After BPO arm Now to offload stake in Polaris
Posted by : rvk41Price when posted : BSE: Rs 38.00 ( -0.52 % ), NSE: Rs. 37.80 ( -0.66 % )
Tracked by: 0 Boarder
Dear investor11,
Now I got some more to share with you,
"""Polaris Software Lab said Citigroup (Citi), which has 43% in the IT company (Polaris Software Lab), cannot sell its holdings unilaterally, reports Economic Times.
Responding to reports that Citi was in discussions with some companies to dilute its stake in Polaris, The company (Polaris Software Lab) said that Citigroup is a strategic investor in Polaris. As per their agreement, Citi cannot take decisions to dilute its investment without the prior approval of Polaris` management.
The company denied to disclose whether the promoters of the company, who own 29.15% stake, have the ``first right of refusal`` to say `no` if Citigroup decides to dilute its stake.
In normal cases, promoters include the right of refusal clause while signing joint venture agreements with other firms. However, such clauses cannot be made applicable in the case a person or a company buys shares from secondary market"""
With regards,
rvk41
...
In reply to:
After BPO arm Now to offload stake in Polaris
Posted by : investor11
Polaris management has denied report of its stake sell by citi group
if citi group sells the stake and as you have mentioned there are takers than it would be good for co as citi group is in trouble
Helping Indian Industrialists, Mr. Prime Minister
Posted by : sambalaPrice when posted : BSE: Rs 160.05 ( 1.27 % ), NSE: Rs. 159.70 ( 1.59 % )
Tracked by: 0 Boarder
Nationalisation helped us weather meltdown: Sonia
Congress president Sonia Gandhi took a potshot at those who had mocked Indira Gandhi’s decision to nationalise banks in 1969. She said that the late prime minister’s prudence and wisdom in doing so has now saved the country`s banking system from the adverse effects of global meltdown.
``If you allow me the liberty of showing what is to you the proverbial ``red flag to the bull’’, Let me take you back to Indira Gandhi’s much reviled bank nationalization of 40 years ago. Every passing day bears out the wisdom of that decision. Public sector financial institutions have given our economy the stability and resilience we are now witnessing in the face of the economic slowdown,’’ she told the Hindustan Times Leadership Summit on Friday.
Speaking on the subject of ``Ambitions for a New Century’’ Sonia underlined this would have to await awhile as the country grapples with the latest crisis to come upon it after zooming oil prices and proliferating food shortages.
``While nationalizing banks, Indira Gandhi had said that the banking system only benefits a select few and not the common man. This went against the concept of a welfare state.’’ recalled veteran Congressman Bishm Narain Singh who later joined her cabinet. He added that her decision stands vindicated today with the UK opting for bank nationalization.
Even as in her speech, Gandhi virtually unveiled her party’s Lok Sabha manifesto with her emphasis on protecting vulnerable sections through ``collaborative partnership’’ of sectors, peoples and institutions, by referring to Indira Gandhi’s vision she also sought to counter the Left`s claim of saving the country’s banking system by blocking the UPA’s banking reforms. Gandhi however did not name the Communists or the BJP. Nor did Prime Minister Manmohan Singh whose denunciation earlier of ``competitive’’ politics, ``divisive’’ agenda and ``extremist’’ ideologies left little doubt who he was alluding to.
Providing the party`s foil to the government’s perspective, Gandhi focussed on best to mitigate the effects of the latest crisis. She ruled out a return to the era of controls but maintained that things also cannot be allowed to spin out of control. Her prognosis: liberalization will continue but it will be tempered by sensible--and not heavy handed regulation---to ensure social justice and protect the vulnerable who are victims of the crisis through no fault of theirs.
``Collaboration is imperative because we are all in this together,’’ she said, referring to the problems of small enterprises and unorganized labour looking for a safety net. She also wanted public systems to be ``more efficient and responsive’’ while focusing on the Congress’s pro-poor commitment reflected in initiatives like the rural employment guarantee and mid day meal schemes.
Gandhi’s ill-health may have allowed her to only make a speech---and not take questions this time--but it did not douse her sense of humour.
``Let us surprise Professor Amartya Sen by giving up our favourite trait of being ` unendingly argumentative’ and for a change, let us be ``effectively collaborative,’’ she said as the audience of prominent personalities cheered.
...
In reply to:
Helping Indian Industrialists, Mr. Prime Minister
Posted by : sambala
It would probably be better from a macro-economic point of view to allow the rouble to float freely," said one senior Russian government official, speaking on condition of anonymity.
"But if we do, there is a risk that it will overshoot, fall as much as 50 percent and trigger a run on banks."
COMPANIES` WOES MOUNT
Problems continue to mount for key Russian companies. Used to years of steadily rising sales and often heavily in debt, they are facing a sudden collapse in demand.
In a latest sign of trouble, electricity generators have seen a sudden rise in unpaid bills from corporate customers.
For the past three weeks, 13 percent of industrial users have not paid their bills, compared to about 8 percent before the onset of the crisis, industry regulator Dmitry Ponomaryov said on Wednesday.
The latest Russian giant to hit the buffers is potash miner Uralkali, whose products are used to make fertilizer.
Its shares, already weak after the government reopened an investigation into a mine accident, crashed after it announced plans to slash production. The stock is now 96 percent down on its June peak, on a par with Russia`s distressed property developers who are sitting on thousands of unsold flats.
As layoffs mount, the economic pain is posing a growing threat to the dual leadership of Medvedev and Putin.
An opinion poll published this week by the independent Levada Center showed the proportion of Russians who think the government is doing a good job handling the crisis had almost halved from 13 percent in October to 7 percent in November.
Those saying it is performing badly rose from 27 percent to 33 percent.
In this environment, even the better-placed of the country`s famed billionaire oligarchs are feeling the heat.
One of Russia`s five richest men, speaking on condition of anonymity, said many businessmen in Russia simply wanted "to be alive, the longer the better."
"This crisis is hitting everybody, big business and small business," he said. "...but Russians are really fighters. They will fight to the end."
Is NFCL a victim operators?
Posted by : fieryblasterPrice when posted : BSE: Rs 14.15 ( 0.71 % ), NSE: Rs. 14.15 ( 1.07 % )
Tracked by: 0 Boarder
hi alok,
Only stocks with tremendous growth potential will give immense profits and nagarjuna is one of that kind.If you look at the future expansion plans of nfcl,cuddalore refinery is being built and will be ready in 3 years.NFCL has more than 50% stake in that and all the share holders will get 2 of the shares of the refinery for every one share held by us.So right there ,there is tremendous value.Other than that once reliance gas comes up,i will allso benefit nfcl.I sincerely believe it is a future blue chip like infy,mrf etc......
In reply to:
Is NFCL a victim operators?
Posted by :
alokvarshney52
I always talk with the facts. Pl. click on "deatiled comapny information" link given just below the bse/nse price in the messageboard of Nagarjuna Fert on this site only. You will find the PE at 29.10 as of today`s closing price. You can check from various business newspapers also and from other websites also. If I am incorrect, then pl. let me know. Your views and suggestions are always welcome, friend. For your kind information, I never traded in this scrip, but I am keeping a watch on all Fertliser stock`s movement for last 5 years. By the way I invested a lot of times in Deepak fertiliser in last 5 years and earned a lot. Still today, this is my fancy stock. It is just trading at a PE of 3. it gives healthy dividend of Rs. 3 (30%) every year.
After BPO arm Now to offload stake in Polaris
Posted by : rvk41Price when posted : BSE: Rs 38.00 ( -0.52 % ), NSE: Rs. 37.80 ( -0.66 % )
Tracked by: 0 Boarder
Dear,
The latest development in CITIGROUP is posted below for yor own inference,with regards
rvk41
""With the stocks of Citigroup dipping a record 26 per cent in a single day on Thursday, its top executives are now look at various options including auctioning off its various wings or even outright sale of the company, the Wall Street Journal said on Friday.
The financial giant, considered a symbol of globalisation, the Citigroup is headed by Indian American Vikram Pandit. This week alone, its stock prices have dropped by 50 per cent, forcing it explore measures that would have been unthinkable a few weeks ago.
Early this week, Pandit had announced to cut as many as 53,000 jobs and drastically reduce its expenditure next year.
Saudi Arabia`s Prince Alwaleed Bin Talal Bin Abdulaziz Alsaud has announced he would pump in more money in Citigroup by increase his holdings to five percent in the company, which has more than 200 million customers in over 100 countries.
But none of these measures seems to have worked as investors continue to dump its stocks in the market, resulting in the worst-ever drop in its scrip.
Besides the option of auctioning parts of its businesses, The Journal said in a front page article: "Citigroup executives also are weighing the possibility of selling the company or merging with a rival. Some analysts have pointed to Morgan Stanley and Goldman Sachs Inc as a potential suitor."
Citigroup top executives are scheduled to formally meet today, the newspaper said, adding that Pandit himself is expected to discuss the situation with senior managers""
...
In reply to:
After BPO arm Now to offload stake in Polaris
Posted by : investor11
Polaris management has denied report of its stake sell by citi group
if citi group sells the stake and as you have mentioned there are takers than it would be good for co as citi group is in trouble
Strong growth in economy slowdown
Posted by :
chhitijjainPrice when posted : BSE: Rs 249.40 ( 4.22 % ), NSE: Rs. 248.75 ( 4.17 % )
Tracked by: 0 Boarder
i do not beleive in rumours and talking. i beleive on my work and tis stock will cross 300 marks soonly and gives nice returns in long term. One more thing doesn`t compare stock market with guarantee.
fools starts revo....
In reply to:
Strong growth in economy slowdown
Posted by : ramc23
Hi Chhitijjain,
Market doesn`t accept and see any fundamentals of any company at the present juncture. The major trend is down, hence, nobody knows what is the level of bottom; some stock broking firms gives target of index 6000, and if it touches, why not 5000 or 4000, and in that eventuality where Everonn will stand? Even for long term, why to burn fingers now instead of getting crossed and sit! When it touched a low of 125 on 27th oct., what is the guarantee that thestock doesn`t test the new low again in the coming days, though today it substantially moved from low of 195 to 253 with huge volumes. In ordinary days, this type of behaviour of the stock will be Yes, buy only but now?
Fools enter where angels fear to tread!
Ram
Buy GVK Power says Sukhani
Posted by : sayabaPrice when posted : BSE: Rs 14.67 ( 13.28 % ), NSE: Rs. 14.70 ( 13.51 % )
Tracked by: 0 Boarder
The reason behind creating terror in the mind of investors is to get investors in panic, so that all will start selling blindly, which will result in fall in share prices more quickly. By doing this, those analysts who have gone short will benefit tremendously. This is the reason why analysts create terror in the hearts of investors. Therefore, one should be cautious before taking any (buy/sell) decision....
In reply to:
Buy GVK Power says Sukhani
Posted by : panni
every analyst says that ig fall is yet to come, why they fill terror in the hearts of investors,if fall is to come that will come,
Buy GVK Power says Sukhani
Posted by : sayabaPrice when posted : BSE: Rs 14.67 ( 13.28 % ), NSE: Rs. 14.70 ( 13.51 % )
Tracked by: 0 Boarder
Yes, you are right if one goes blindly to one`s opinion. But, I am of the opinion that the action of buying in GVK Power will be beneficial to the investors. Because, momentum in this stock is good and many good/excellent news in GVK Power are in the market. One can think of seven deep sea blocks recently awarded to GVK Power for oil and gas exploration, power generations and infrastructure business. All these will create tremendous sales and profits to the company in the days to come. The current market price is good for entering in this stock for good capital appreciation in short/medium/long term. So, one can think over it before jumping blindly !! Thanks....
In reply to:
Buy GVK Power says Sukhani
Posted by : blackshirt12
Following the words of any expert blindly may lead you to the path of self destruction..
Buy this one an ideal candidate to generate wealth
Posted by : psgsPrice when posted : BSE: Rs 1156.25 ( 0.52 % ), NSE: Rs. 1157.40 ( 0.76 % )
Tracked by: 2 Boarders
thanks punit for the info.
i will buy more monsanto now :) out of the dividend :)...
In reply to:
Buy this one an ideal candidate to generate wealth
Posted by : punit1255
Dividend received. Swamyjee and PVN Rao
unitech at 20
Posted by : shareviewsPrice when posted : BSE: Rs 31.85 ( -9.39 % ), NSE: Rs. 32.00 ( -8.57 % )
Tracked by: 0 Boarder
No stock can be classified as good or bad at the moment, but the market as a whole should look good, for that it may take some time, much longer than all of us expect. So let our money remain in our pocket, thats what a I feel. ...
In reply to:
unitech at 20
Posted by : gandabaccha
at any upmove which is expected after reserve bank announce rate cut ,exit this stock and buy some other good stock to cover up your loss.
GANDABACCHA
Tracked by: 0 Boarder
sell it @ 750 levels in just 2 days time........
get ready for fireworks
watch out for news on this stock...
In reply to:
anyone there
Posted by : avshaji1
Can any analist comment on this script. why this script is almost 52 week heigh. where is india bull,cheif.
tata steel will sink below Rs.125/-
Posted by : rk_singalPrice when posted : BSE: Rs 160.05 ( 1.27 % ), NSE: Rs. 159.70 ( 1.59 % )
Tracked by: 0 Boarder
If company maintains dividend of 12 per share at least, it`s price comes, minimum of 216. But market has it`s own rationale, so it can go to any direction, whatsoever, temporaroly....
In reply to:
tata steel will sink below Rs.125/-
Posted by : Guest
Yes FMCG and Pharma best in any times. But everyone knows it and so all FMCG and Pharma continue to trade at high price.
